October 27, 2016
Throughout the three years of dedicated ongoing research in the FinTech space, the LTP team has explored, defined and shaped the global FinTech startup ecosystem unlike anyone else. Eventually, LTP has decided to unveil how the 50+ worldwide FinTech accelerators are boosting the growth of the startups in their programs. For this scope, LTP will be interviewing the startups that have been part of the top notch FinTech accelerators and will share the results with its global audience.
Florin Grosu: Being part of Queen City Fintech Class 4 was an amazing experience for us and our progress was visible from the first days of the program. We have worked with really experienced mentors in the banking industry and are proud that we convinced two of them, a couple of months after graduation, to join our Board of Advisors. The mentors, the Queen City Fintech team, and all the people that we met during the program contributed to significantly improving our story.
FG: The story that we crafted with Queen City Fintech helped us receive an investment from Seedcamp, Europe’s leading pre-seed and seed fund, right after graduating from the accelerator. We have used that investment to grow our team and develop the product. Some of the mentors we worked with in Charlotte continued to help us and made valuable introductions to relevant people at Bank of America and Wells Fargo. They provided constant feedback and guidance on the product development and this allowed us to customize the product so that it now matches the exact needs of the banks. As a result, we were invited to do pilot projects in both the US and the UK with some of the largest clients in the industry and signed our first contracts shortly after. We now have clients in the US and the UK and have recently been accepted into a program in Zurich where we work with the SIX Group, the company that operates Switzerland’s financial market infrastructure, with PwC and Julius Baer to gain access to their network of 140 international banks.
FG: At our current growth rate, we estimate we will be profitable by Q3 of next year, which is when we plan to raise our next round. One of the clients we started the conversation with while in Charlotte is now interested in investing in our company and helping accelerate our growth plans.
Queen City Fintech was the turning point in our evolution and we would strongly recommend it to any early-stage FinTech startup working to disrupt the industry. It is an amazing team and offers access to some of the best mentors we have ever worked with.