Market Overview

Queen City Fintech Is Putting Charlotte's Fintech Scene On The Map

Share:

Queen City Fintech is an established accelerator in Charlotte, North Carolina which has grown significantly since its inception five years ago. It is recognized as a leading program by the finance industry, fintech investors and startup companies throughout the world.

The driving force behind Queen City Fintech is Dan Roselli, its co-founder and managing director. Roselli has many years of experience in the finance industry and the startup/venture capital world. With his combination of his passion, creativity, hard work and determination, the accelerator was born and has continued to morph into the esteemed program it is today.

Roselli has strategically chosen Charlotte as Queen City’s location. Charlotte is the 2nd largest banking center in the United States. Roselli speaks with deep affection about Charlotte, stating that the city provides a great advantage through its “inert DNA and strength of marketplace.” With an office located in the heart of the city, access to industry experts plays a pivotal role in the strength of the accelerator. Queen City Fintech boasts a tremendous list of mentors which is far larger than any other fintech accelerator.

Charlotte is in a birth of a technology boom, with Queen City Fintech being the first accelerator of any type to launch in the city. The accelerator chooses 10 to 12 companies twice a year to work intensively out of their office and provides $20,000, industry exposure, and entrepreneurial guidance in exchange for equity in a chosen startup. The program culminates in a demo day, which brings in investors and financial services leaders from Charlotte and throughout the United States to check out fintech product demos. In certain cases, Queen City Fintech will provide follow-up on capital injections.

Roselli has recently announced plans to raise a fintech-focused seed fund designed to provide follow-through on investment to the most successful accelerator graduate companies, as well as other fintech startups in the region.

”Now that the accelerator has an established track record and fintech at large has generated overwhelming support from the business, civic, and entrepreneurial communities, the next step in making Charlotte a competitive fintech hub is adding venture capital to the equation,” says Roselli.

He has developed partnerships with institutions like Bank of America, Wells Fargo, Barings and AIG for that purpose. All of Queen City Fintech’s partners provide capital to help support the accelerator’s day-to-day operations. More importantly, the partners provide mentorship, support and collaborate or partner with Queen City Fintech’s portfolio companies.

The accelerator has become highly competitive. It accepts less than 10% of the companies from each applicant pool, selecting startups from Israel, Brazil, Silicon Valley and New York City. In its selection process, Roselli looks for companies that are on the verge of the “hockey stick inflection point,” the stage set for exponential growth. Generally, companies must have a working product, initial traction and an astute team to be accepted.

Queen City’s initial successes prove that fintech can flourish outside of the world’s financial capitals and fintech hubs. It might only be a matter of time before the fintech world sees an institution acquire a company that’s not headquartered in NYC or San Francisco, but Charlotte.

If you’re looking for cool fintech startups and access to top financial institutions, and are sick of attending stuffy corporate conferences, the Benzinga Global Fintech Awards is the event for you. From its first year in 2015, the competition grew to over 250 applicants and over 500 attendees in 2016.

Connect with us on social media — use the hashtag #bzawards and #Fintech to spread the word!

Posted-In: Fintech Entrepreneurship Startups General

 

Related Articles

View Comments and Join the Discussion!