Startupbootcamp Fintech unveils inductees for 2016

Exciting and diverse range of fintech business models welcomed into leading accelerator’s development programme

Europe’s leading fintech accelerator, Startupbootcamp FinTech, has unveiled the shortlist of firms that will benefit from its mentorship and global funding network over the next 12 months.

Reflecting the fintech segment as a whole, the young and ambitious offerings chosen for the organisation’s 2016 Fintech Accelerator Programme straddle a wide variety of service types and business models.

Companies on the list include:

1. London-based mobile compliance solutions provider Kyolab – a rare example of regtech moving into the world of handheld devices;
2. Penta Bank, set for launch next year, which aims to provide a host of flexible cash management solutions for French and German SMEs;
3. Business finance specialists Zeroflows – a firm dedicated to helping companies find liquidity in emerging and frontier markets;
4. SME-focused cash management platform Monuva, which enables small businesses not only to see and coordinate multiple accounts from a single location, but offer their clients flexible payment solutions for multiple currencies and countries;
5. Enterprise Bot, an AI-powered customer relations tool for banking call centres, with the capability to reduce costs by 85% and wait time by 90-95%;
6. Peer-to-peer service Trakti, designed to facilitate procurement, sourcing and sales functions via dynamic, personalised and – crucially – blockchain-registered negotiations and contracts; and
7. EuropeOne, a Pan-European mobile bank for citizens who work in a different country from their own, offering easy account opening and financial transactions, multilingual interfaces and a free remittance service.

Launched in 2010, Startupbootcamp has flourished into a worldwide network of accelerator hubs, covering numerous, cutting-edge industries from bases in major world cities, such as Copenhagen, Amsterdam, Singapore, Berlin and London.

Backers signed up to its fintech programme include Lloyds Banking Group, PwC, Route66, MasterCard and Rabobank.

Welcoming the 2016 inductees, Francisco Lorca – MD of Startupbootcamp Fintech London – said: “Over the past six months, we have identified almost 1,000 start-ups, visited financial hubs across four continents and held 18 different recruitment events.

“During this time, we have met some of the world’s most interesting, innovative and promising fintech start-ups. We are optimistic that start-ups will continue to thrive and adapt in changing circumstances, and I am looking forward to working with the entrepreneurs and our partners during our programme this year.”

He added: “We are delighted to see that the Brexit vote has not affected the innovation and enthusiasm found in start-ups.”

Lloyds Banking Group head of fintech Han Veldwijk said: “We are meeting fintechs who are passionate about delivering new and valuable services for customers.

“We’ve experienced great success recently through collaboration with Startupbootcamp’s alumni WoraPay, and hope to identify more opportunities as the programme progresses with the new cohort.”

Meanwhile, Rabobank head of innovation Harrie Vollaard noted that the scheme’s latest round of start-ups “are better than ever aligned with industry opportunities and the challenges the financial industry is facing. The potential is high, and therefore we are looking forward to working together with them”.