Techcelerator selected 11 startups for the NEXT FinTech acceleration program, rolled out with the support of the European Fund for Southeast Europe in Luxembourg and partners GapMinder VC, Google for Startups, Seedblink, TechAngels, RoFintech Association, and Stripe.
In the pre-selection phase, 33 startups with projects targeting this market segment applied. The companies in the program that will benefit from intensive mentoring and potential funding are:
- 22Trust Venture – B2B product dedicated to retail banks that allows them to offer dynamic prices, using AI technology in their lending activities;
- AlphaBlock Technologies introduces the Alphabot, a smart chatbot application that helps capital market investors implement investment strategies with a passive level of risk, but with active levels of performance;
- ENSO business – a web platform that redefines the way companies connect and interact with their suppliers;
- Finpathic – digital financial advisor which analyzes the user’s financial data, by using an extended financial database, and suggests the optimal investment portfolio;
- Investory Toy Factory uses game-based learning to help children understand finance;
- KidsFinance is a product for parents and children that promotes financial education and comes with with an associated prepaid card for children;
- Leaseman – the platform for renting and managing the available commercial spaces;
- OptimRent -the first platform for real estate owners and tenants that aims to automate the processes involved in property management;
- SSIF GOLDRING – solution for easy financial control of investments in pension funds;
- TimedFx – platform that offers the best exchange rates for companies which use several currencies in their business, thus helping them to minimize foreign exchange losses;
- ZoomReport – platform that provides users with integrated, geographically located public data, and helps them analyze local socio-demographic and economic environments for business decisions.
Over the previous four rounds of acceleration, Techcelerator has provided support to nine other FinTech startups that are currently enjoying success in the local and regional market: # 1 – ialoc, Uhura solutions; # 2 – Beez, BAAM, Stockberry; # 3 – Confidas, Prokuria; # 4 – Credia, Data Against Data.
“We have selected 11 teams that develop products for which we see significant potential for the FinTech core area, but also its adjacent areas, such as the PropTech market or the financial education market. We will work together with the best mentors to improve the product and market strategies of the startups. Our goal is to attract as many relevant partners as possible to facilitate the start of pilot projects and the raising of investment rounds”, said Cristina Țoncu, Director of the Techcelerator program.
The acceleration program, taking place online until the end of January 2021, will include four intensive mentoring modules: sales & matchmaking with financial institutions in the region, product marketing, transition strategies to the international market and investments readiness. These will be delivered by experts and investors in the area of FinTech and business development. The program will end with a Demo Day event, in which startups can highlight their progress and attract funds from investors.
The 11 startups will also be able to access Google Cloud credits, Stripe credits, HubSpot accounts for startups, software products from Freshworks, etc., with a total package value of over 150,000 euros.
NEXT FINTECH startups will be introduced to investor partners GapMinder VC, TechAngels, SeedBlink and have the chance to access a round of financing up to 200,000 euros.