Startupbootcamp launches FinTech Accelerator at YBF Ventures
Global accelerator powerhouse, Startupbootcamp, has announced the 10 startups set to participate in its 2019 FinTech accelerator. Financial services and technology sector heavyweights, NAB, Bupa, Deloitte, Capgemini Australia, DiUS and Amazon Web Services, are backing the program and will be lending their expertise to the cohort.
Startupbootcamp received 900 applications from startups eager to participate. The majority of applicants had a focus on improving back-office efficiency, with startups concentrating on asset and wealth management, financial inclusion, regtech, financial wellbeing and open banking.
“The global FinTech industry is booming with VC-backed FinTech companies raising US$6.3B in the first three months of 2019 alone. The Asia-Pacific region is the fastest growing and we’ve seen tremendous interest in this program across the financial sector in Australia. The calibre of startup applications is the best and most we’ve ever seen for a first year program.” Trevor Townsend, CEO of Startupbootcamp Australia
Meet The FinTechs
The cohort selected has a truly global reach with teams hailing from India, Hong Kong, Singapore, Taiwan, Myanmar, Australia, the United Kingdom and the United States.
The ten startups selected for the FinTech Accelerator program are:
ZScore Technologies: an AI-powered platform that enables organisations to understand and extract value from their data through advanced data profiling.
Emotics: a RegTech company that analyses user engagement with online compliance training, using a suite of analytics, including facial recognition and facial micro-expression analysis.
ChintaMoney: a mobile app that digitises Jam Jar budgeting, which allows users to split their income into different categories (bills, travel, savings, etc) for better financial health.
InsureVite: a NLP chatbot that includes advanced features, like smart contracts and optical image processing, for applications in industries like insurance, banking, e-commerce, and airlines.
TradingValley: a wealth management solution powered by machine learning that helps users build the right investment portfolio to suit their life needs.
InfoVera: an online marketplace that gives business owners an industry benchmark score and recommendations to increase the value of their company.
Youthful Savings: a learning marketplace that empowers the next generation with the tools of financial education and entrepreneurship necessary to thrive.
Pencil: an application management system that allows businesses to easily submit credit applications digitally by auto collating an accurate ASIC-verified business record for immediate approvals.
ZigWay: a mobile app that helps low income families access nano loans of less than $200 quickly and cheaply.
Fractal: an API suite that provides a data aggregation and intelligence platform where banks and other financial institutions can provide value adding services to SMEs.
Along with coworking space at YBF Ventures, each of the companies will receive $25,000 for living expenses, support from DiUS, KHQ Lawyers and Pitcher Partners and access to Startupbootcamp’s global network.
“As home to Melbourne’s first fintech hub, we’re thrilled that the Startupbootcamp FinTech accelerator is kicking off from within our walls. Driving the fintech ecosystem in Victoria has been YBF’s mission since late 2017 following our partnership announcement with both the Victorian Government and Startupbootcamp. The fintech startups that will work out of our CBD location will be equipped with our premium office space and will have access to our full suite of business offerings including educational events, mentorship, investor connects, a range of advisory services and a host of discounts from software to food.” Farley Blackman, CEO of YBF Ventures
Words by Leahan Shimon
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