Ten start-ups power up for FIS fintech accelerator
FIS and the Arkansas-based entrepreneur support organisation Venture Center have revealed the ten start-ups for their 2017 VC Fintech Accelerator, now in its second year.
The 2017 programme received 295 applications from across the US and 39 other countries. The selected companies (all American, bar one) will participate in a 12-week programme designed to accelerate the development of their financial innovations. Each firm will receive mentoring and training from FIS and the Venture Center as well as an undisclosed monetary investment.
Gary Norcross, FIS president and CEO, says the programme is a “great example of how we are harnessing the spirit of entrepreneurship with the power of applied innovation to bring breakthrough products and services to our clients”.
The ten start-ups are:
- Alpharank – San Francisco – builds APIs for customer transactions;
- Alto IRA – Tennessee – maps transaction data for predictive social graph data;
- Bond.ai – New York City – provides an SMS bot for financial services;
- eGiftify – Arkansas – online instant gifting solution;
- Hedge Hog – Detroit – lending platform secured by borrower collateral;
- Plinqit – Texas – micro-savings platform;
- Omnetrium – Chicago – retail banking tech platform for accounts and deposits;
- Quotanda – Mexico City – marketplace for student financing;
- WalletFi – North Carolina – manages recurring payments from one card to another;
- Xplanr – New York City – offers regulatory compliance programmes.
The 2017 programme will culminate with a demo day on 26 July at the Clinton Presidential Library in Little Rock, Arkansas.
Following the 2016 programme, six companies were selected to join the “exclusive” FIS HiPo Network, and two companies relocated their headquarters to Little Rock.
The Venture Center says in its first two and a half years, its member companies have created more than 280 jobs, generated $12 million in revenue and have raised a combined $19 million in capital.