The FinTech Innovation Lab London has returned for its second year running

The Innotribe Startup Challenge is now in its fourth year

Swift’s Innotribe innovation spin-out has named the European semi-finalists for its 2014 Startup Challenge, which seeks to find the most innovative start-up companies in financial services.

The 15 companies chosen from the 280 entrants are in two categories: early stage start-ups, and “growth-stage innovators”. The boundary between the two is that those in the former category are less than three years old or  have less than $1 million in revenue or investment.

The 2014 European start-ups are

  • Bitbond.net, which offers peer-to-peer lending denominated in Bitcoin
  • BondIT, a provider of algorithmic software for bond-based investment management
  • ClauseMatch, a trade negotiation website
  • CurrencyTransfer, a website that promises FX payments that are up to 90% cheaper than its rivals
  • Ensygnia, a mobile payments company that promises ‘from looking to buying in less than 10 seconds
  • moneymeets, a German online tool that lets users manage their own investment strategies and brokerage accounts
  • Sedicii, a company focused on protecting customers’ online identity by never storing or sending passwords
  • SilverOak, an online crowd lending community that aims to empower small businesses in emerging markets through access to loans
  • TransferGo, a website that claims to transfer money up to 10 times cheaper than banks
  • Xuvasi, which focuses on technology and marketing innovation

The growth-stage candidates are:

  • Karma Platform, which allows users to turn spreadsheets into business applications
  • Mambu, a cloud banking platform which provides the technology for loans and deposits to companies seeking to increase financial inclusion
  • MatchMove, a Singapore-based online shopping service that offers users a wallet in which they can keep various virtual cards that unlock various promotions and rewards
  • MidVision, which provides assistance to firms rolling out applications
  • SlimPay, an online payment service

“We are very impressed with the record number and quality of the 280 applications submitted for this year’s Innotribe Startup Challenge,” said Fabian Vandenreydt, head of markets management, Innotribe and the Swift Institute. “Our judges have selected a variety of companies showcasing numerous opportunities for the financial services industry. We look forward to seeing these companies in action at the different showcases, pitching with enthusiasm and passion.”

The European leg of the competition will take place in London on 1 May at Level 39 in Canary Wharf as part of the Finextra Future Money event. The semi-finalists will pitch their ideas to a panel of angel investors, venture capitalists and decision makers. The winner will receive a $50,000 cash prize and a place at the finale at Sibos in Boston in October, where they will face off against the top entrants from New York and Singapore.

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