Fin+Tech announces the first 16 startups selected to join the 2022 acceleration program
Fin+Tech, the acceleration program aimed at startups that develop fintech and insurtech solutions, has completed the selection of the 16 start-ups that will join the first cycle of the program. The initiative is part of the CDP National Accelerators Network, which is operates throughout the country in order to help the growth of new companies focused on markets with the greatest growth potential.
Fin+Tech is the outcome of an initiative launched by CDP Venture Capital in collaboration with Digital Magics, Startupbootcamp, Fintech District, Nexi and Credem as promoters, who make up the overall endowment of 6.2 million euros, working together with corporate partners.
Over 300 applications were submitted, of which approximately 50% came from abroad, demonstrating the relevance of the Italian market in the targeted sectors.
The Fin+Tech acceleration program aims to lay the foundations for supporting the most promising fintech and insurtech start-ups in their growth path by offering those that best perform during the acceleration phase, the opportunity to obtain new financial resources.
The Fin+Tech evaluation committee, made up of the promoters and corporate partners involved, selected 16 start-ups focusing on fintech and insurtech, which will have the opportunity to access the program, benefiting from an initial investment of 48,500 euros as well as a 4-month acceleration period with the support of a network of mentors, industry leaders as well as the venture capital world. Start-ups who show the most promising opportunities for growth will be eligible for follow-on investment of up to 300 thousand euros.
The selection was based on the basis of the innovation of their solution, composition of the team, scalability of the project and market potential. In the fintech field, the start-ups selected tackle the payment systems, lending, certification, and interoperability systems based on blockchain, credit and scoring systems for e commerce, artificial intelligence and open banking, tokenization solutions for financial transactions and robot advisory platforms. In the area of insurtech, the focus has been on systems for the digitalization of online policies, platforms for the automation of insurance transactions, risk management, IoT-based insurance products.
The institutional partner of the initiative is Consob, by working with the group Consob Tech as well as many other important corporate partners including: Anima Sgr, Banca CF+, Banca Mediolanum, BNL Gruppo BNP Paribas, BNP Paribas Cardif, Compass, Credem, Excellence Consulting, Net Insurance, Nexi, Reale Group. In addition, CRIF and Base Digitale joined the initiative, strengthening its potential impact on the market. The valuable contribution of technical partners includes: Studio Legale Ferrari Pedeferri Boni (FPB), ItaliaFintech, Italian Insurtech Association and Swiss Insurtech Hub.
The selected start-ups are:
- Cents, a social impact platform that combines the experience of giving with every purchase, connecting people, companies, and financial institutions to the Third Sector.
- Earnext SA, a full wealth management platform aimed at financial advisors.
- Exain, blockchain-based platform for tokenization and asset management.
- Flowbe designed and engineered TENet (Trusted Exchange Network): the first interoperability platform that allows companies/operators/users to interact within specific processes in a natively digital and certified way.
- Icashly, digital banking mobile app aimed at simplifying and improving people’s financial aspects: pay, save, invest, and learn.
- Ooki, app for financial well-being, allows users to optimize their level of credit risk through open banking.
- Politically, a platform that focused on fundraising for political campaigns aiming to create transparent and digital donations.
- SplittyPay, a platform offering innovative payment solutions.
- Aptus.ai, a solution that grants banking regulations accessible in machine readable format by applying proprietary artificial intelligence technologies to automate impact analysis in a multi language, cross-country context.
- Coyzy, mobile personal safety and violence prevention application based on crowd-sourcing concept, with support from local communities.
- Delega, cloud-based fintech SAAS whose mission is to fully digitize the bank power of attorney process for mid- to large-sized companies.
- Fairsich, provides IoT solutions and software to assess a driver’s level of risk in real time, enabling dynamic pricing models in mobility.
- Insurance4Music, the first broker entirely dedicated to the music world, which, through a digital platform, offers different insurance solutions, from insurance on musical instruments to event policies.
- Agree.Live, simplifies the process of remote sales of financial products, allowing banks and insurance companies to meet customers and prospects in video meetings, share documents and/or contracts with them and receive them digitally signed.
- Open-Source Modelling, develops and delivers actuarial and/or risk models through open-source solutions.
- TrueScreen, an app that allows to certify photos, videos, screenshots, documents, and audio recordings, guaranteeing with extreme probative value that any content generated by smartphone or tablet is authentic and unchangeable.
The three-year Fin+Tech program will accelerate 16 start-ups per year for a total of 48 start-ups in 3 years and aims to create a strong ecosystem at national level able to increasingly attract startups and international investors. For any further information please visit www.finplustech.eu
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