Plug and Play’s newest innovation platform Fintech Europe has selected its initial nine startups for its program.
Fintech Europe will be based out of Germany, and will work alongside its founding partners Deutsche Bank and TechQuartier. This platform will be a ‘multi-corporate’ FinTech program and will run two 12-week accelerators a year.
One of the companies to join the inaugural cohort is online payments platform OptioPay. The Berlin-based company converts payments into higher value gift cards, offering these for a selection of different payout types. Gift cards are offered for refunds, salaries, returns, bonuses, corporate gifts, claim settlements and reimbursements, among others.
Fintech Europe screened more than 200 applications and boiled them down to just nine startups. Fintech Europe will facilitate pilots, POCs, and business development opportunities for those participating.
During the program, startups will be introduced to Plug and Play’s corporate partners and be given the chance to work with other companies to evaluate pilots and investment opportunities.
Plug and Play managing director EMEA Omeed Mehrinfar said, “Based on the success of our stage-agnostic and multi-corporate innovation platforms in California, we are proud to extend this model to Europe, providing proximity to many of our existing and prospective corporate partners in the financial sector.
“In the last few months, we launched our FinTech program and partnered with six leading financial institutions. This is a great start to our journey and we look forward to launching a successful program alongside our corporate partners,”
The remaining companies in the cohort are augmented customer service solution Alcméon, financial risk and forecasting platform AlgoDynamix, data detection service DreamQuark, direct lending solution for banks Giromatch, payment and loyalty card provider Handcheque, API integration developer OpenLegacy, personal inventory company Valoo, and audio-transcript service Voxo.
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