August 20, 2016
24 startups have been hand-selected for the next batch
SUNNYVALE, CA August 22, 2016 – 24 startups have been selected for the fourth batch of Plug and Play FinTech. These startups will be a part of the 12-week accelerator program designed for financial technology startups. During this time, startups will gain access to Plug and Play’s extensive network of top banks and financial institutions that have been specifically curated to work with them through this platform. Partners to the program include Deloitte, Bank of the West, BanRegio, BNP Paribas, Capital One, Credit Suisse, Deutsche Bank, Finstar Labs, Intuit, JCB, MUFG, Santander, Sumitomo, TD Bank, USAA and U.S. Bank.
We always look forward to reviewing the newest list of applicants to the next Plug and Play FinTech batch – such impressive talent and innovation leveraging the latest technologies to address common industry challenges and/or create new products. This class is no exception. We have had the opportunity to spend time with several of the startups selected, are keen to learn from and mentor each, and are pleased to welcome one of our new alliance partners, Stellar, to this Plug and Play batch as well, said Joe Guastella, Global Financial Services Consulting Leader.
"The program is meant to instill as many opportunities for our startups to engage with decision makers within the industry, said Scott Robinson, Co-Founder & VP of Plug and Play FinTech. We are incredibly excited at this opportunity to work with the leading minds of entrepreneurs and executives in the financial domain."
Plug and Play FinTech sourced over 800 applications and has less than a 3% acceptance rate for this batch.
"The quality of the start-ups and level of engagement from our corporate partners in our FinTech program has been unprecedented. We are thrilled to be working with some of the best FinTech startups in the world before the world knows them, said George Damouny, Principal of Plug and Play Ventures.
The startups for this batch include:Startup Name Description CCOBOX CCOBOX brings payments compliance into the FinTech era. It is an end-to-end solution featuring an intuitive workflow and a modern whole-team dashboard powered by proprietary machine learning algorithms and interactive analytics. CCOBOX's standardized metrics and one-click pre-formatted reports will put companies in a stronger position with regulators, save money and free critical technical resources. Dobot Dobot (The Robot for Your Dough) is the first mobile personal financial advisor for millennials. We provide tools, motivation and actionable strategies designed to help our members build their financial foundations and achieve goals they never thought possible. By combining the core components of financial health – saving, spending, borrowing and investing – into one mobile platform, Dobot provides a holistic financial solution that is deeply aligned with millennials’ daily lives and goals. Eximchain Eximchain is a lending marketplace that provides small to medium-sized import/export businesses with access to affordable trade finance product. Our goal is to increase efficiency and reduce the cost of trade finance. We focus on letters of credit (payment contract) and working capital financing (for importers and exporters). We use technology to automate bank-led manual and paper-based processes. Flowcast Flowcast is an advanced analytics startup for trade finance. We build predictive analytics software for financial institutions that dramatically enhance trade financing. Instrument Capital White-label personalized risk assessment algorithms. Customized asset allocation for each private wealth client. Lenny Lenny is a pioneer mobile lender in the US. The app also poses as a credit score education platform through a recent partnership with FICO. The company uses a peer-to-peer payment solution to offer credit lines targeted toward millennials. Users can cash out their funds to their bank accounts or pay back friends or acquaintances who also uses the app. Netki Netki is a Los Angeles-based financial technology startup. We provide a suite of standards-based naming and identity solutions, which allow developers to build blockchain-based applications that are easy to use, highly interoperable and compliant with existing regulatory requirements. Neurensic Business processes in every industry are shaped by regulatory demands. But compliance teams struggle with processing the vast data of these industries as regulations and criminal threats become more sophisticated. Neurensic uses artificial intelligence to enable a new global standard for regulatory compliance, revealing insights impossible for humans to find alone. nuco Using the best tools, available or in development, along with proprietary intellectual property, nuco is creating the framework for blockchain-enabled enterprise infrastructures. Our customizable modularized blockchain framework will enable any organization, or network of organizations, to leverage distributed systems to achieve efficiency and unlock unused value. Omniscience Omniscience commercializes US intelligence agency AI and distributed data mining research to connect the dots across large, diverse data sources. Financial services companies use Omniscience for risk management, underwriting and sales intelligence. Redrock Biometrics Redrock Biometrics develops PalmID--the first touchless palm print authentication solution. PalmID is a perfect solution for banking and payment. It is 400 times more secure than fingerprints and can work on any device with a camera, from phones to VR/AR to ATMs. Show your palm and you are in, easy and secure. ShoCard ShoCard is a digital identity card platform built on mobile devices and the public blockchain data layer, using public/private key encryption and data hashing to safely store and exchange identity data. ShopInbox ShopInbox is reinventing the credit card experience. It is an intelligent assistant that automatically tracks and claims your credit card benefits (e.g. extended returns, extended warranty, theft protection, price protection, etc.). This transparency also provides financial institutions with new ways to encourage millennials to shift more spend to credit cards, increase retention rates and provide a new acquisition channel to reach this segment. SizeUp SizeUp is big data for small businesses. It provides business intelligence and market research to SME companies so they can make smarter decisions through data. SizeUp is licensed by large enterprises/organizations (such as banks) as a value added service differentiator given to help their business customers succeed and grow. Stellar Development Foundation Stellar.org connects financial institutions, payments systems, and people so that anyone can send money to anyone else quickly, reliably, and at almost no cost. The Stellar network reduces friction and fees for micropayments and remittances to make affordable financial services accessible to the world. Tierion Use the blockchain as a global platform to verify any data, file, or business process. Developer tools & API to anchor data in the blockchain. Tradle Starting with KYC on blockchain, Tradle is building a global trust provisioning network using distributed ledger technology. Winner of KPMG’s 2016 FinTech Challenge and included in The FinTech50 list, Tradle's mission is to provide a core FinTech/RegTech infrastructure for a single digital market in the EU and globally. Trunomi Trunomi revolutionizes data sharing for the financial industry; connecting financial service providers to their customers over a secure consent-based data sharing platform. Its technology enables customers to control and share their identity and personal data with digital rights management. Banks can digitally onboard, Know Your Customer Better (KYCB), personalize services and monetize customer data – all in compliance with global data privacy regulations. Vault Vault is a modern investment platform providing retirement plans for small business. It partners with banks as a direct distribution channel to business clients who need its service. 401(k), IRA, and retirement planning – all on one platform. xPressTap xPressTap has developed a powerfully simple and elegant payment solution to enable consumers to use their NFC phone as their own personal POS device for use online as well as off. Users simply ‘tap’ their contactless card to their NFC phones to instantly pay online or in app emulating a card present" transaction. The company developed a patent pending engine to read and process payment card information including the dynamic cryptogram from EMV contactless cards (as well as e-wallets).
Plug and Play FinTech runs 12-week programs twice per year. Plug and Play’s venture team, VC Partners, and corporate partners select the startups that are accepted into the program. Learn more about the program:http://plugandplaytechcenter.com/FinTech.
See these startups graduate the program and pitch to an audience of top investors and corporate partners at Plug and Play’s EXPO on October 27. Register here: http://bit.ly/oct27expo
About Plug and Play Tech Center:
Plug and Play Tech Center is the world's largest global technology accelerator and venture fund. Since its inception in 2006, its program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 400 startups and 100 corporate partners, it has created the ultimate startup ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in its community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit: http://www.plugandplaytechcenter.com.