Techcelerator selected 11 startups for the NEXT FinTech acceleration program, run with the support of the European Fund for Southeast Europe in Luxembourg and partners GapMinder VC, Google for Startups, Seedblink, TechAngels, the RoFintech Association and Stripe.
In the pre-selection phase, 33 startups applied with projects targeting this market segment. 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 proposes the Alphabot product, a smart chatbot application that helps capital market investors to implement investment strategies with a passive level of risk, but with active levels of performance; I detailed more about AlphaBlock in this article on start-up.ro.
ENSO business – web platform that redefines the way companies connect and interact with its suppliers;
Finpathic – digital financial advisor that analyzes the user’s financial data, using an extensive financial database and proposes 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 is associated with a prepaid card for the little ones;
Leaseman – the platform for renting and managing commercial spaces available;
OptimRent – the first platform for real estate owners and tenants that aims to automate the processes involved in property management; I wrote about OptimRent here on start-up.ro.
SSIF GOLDRING – solution for easy financial control of investments in pension funds;
TimedFx – a platform that offers the best exchange rates for companies with business in several currencies, thus helping them to minimize foreign exchange losses;
ZoomReport – a platform that provides users with integrated, geographically located public data, and helps them analyze local socio-demographic and economic environments for business decisions. ZoomReport was also mentioned in this material on start-up.ro.
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 these startups. Our goal is to attract as many relevant partners as possible to facilitate the start of pilot projects and raise investment rounds “, said Cristina Țoncu, director of the Techcelerator program.
The acceleration program, conducted 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 preparation for attracting investments. These will be supported 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.
Apiary Book is looking for an investment of 200,000 euros. 150,000 euros on Seedblink
The 11 startups will also be able to access Google Cloud loans, Stripe loans, HubSpot accounts for startups, Freshworks products, etc., with a total package value of over 150,000 euros.
The startups from the NEXT FINTECH program will be presented to the investment partners GapMinder VC, TechAngels, SeedBlink and have the chance to access a round of financing of up to 200,000 euros.