Market Overview

Fintech Europe Selects Eight Startups for its Fourth Batch

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FRANKFURT, Germany, Sept. 12, 2019 /PRNewswire/ -- Fintech Europe, Plug and Play's fintech-focused innovation platform based out of Frankfurt, Germany, announced today the eight startups selected for its fourth batch. The platform has grown its partner base to 11 Financial Institutions since its inception in May 2018. Together with Deutsche Bank, TechQuartier, BNP Paribas, Nets Group, UniCredit, Aareal Bank, Abanca, Danske Bank, DZ Bank, Elo, and Finablr, it runs two 12-week innovation programs a year.

Plug and Play Logo (PRNewsfoto/Plug and Play)

After screening applications from all over the world and intensive weeks of reviewing preselected startups with the partners, the final group of eight startups have been accepted into Fintech Europe. The program aims at facilitating pilots, POCs, and business development opportunities for the participating startups and financial institutions.

"This new class of startups are changing the landscape of Financial Services from new ways to evaluate customers credit scores using artificial intelligence and Machine Learning to KYC/AML for business customers," says Fernando Zornig, Program Director of Plug and Play's Fintech Europe program. "As we're seeing a lot of regulatory changes in Europe over the next few months, I am confident that these solutions will help our corporate partners adapt to these changes faster."

Throughout the duration of the program, startups will be introduced to Plug and Play's corporate partners and will have the chance to execute pilot projects and investment opportunities with these companies. There is no cost for the startups to be in the program and they will remain part of the ecosystem even after graduation.

The eight companies are as follows:

Apiax

Apiax transforms complex regulations into digital compliance rules, which are constantly up-to-date and verified, accessible via an API.

CashDirector 

CashDirector SA is a technology company providing SMEs and banks with a Digital CFO integrated with on-line banking, helping with SMEs manage cash flow and accessing financing.

Credit Kudos

Credit Kudos is a credit bureau that uses financial behaviour to measure creditworthiness.

Elucidate 

Elucidate is the industry's first data-driven financial crime risk ratings agency. The Elucidate FinCrime Index ("EFI") utilises modeling and machine learning to digitise and quantify FinCrime risk, enabling proactive management of exposure levels and clear pricing of FinCrime risk.

kompany

kompany® is the global RegTech platform for audit-proof Business KYC, AML and UBO verification.

Uhura Solutions

An AI platform that reads and understands contracts and agreements just as humans do.

Mostly AI 

Mostly AI offers a Synthetic Data Engine that can be used to unlock data assets that are otherwise locked away for privacy reasons.

Responsive

Hybrid wealth solution that increases advisor productivity with better, faster decisions.

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since our inception in 2006, our programs have expanded worldwide to include a presence in over 25 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 300 official corporate partners, we have created the ultimate startup Protected ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal. For more information, visit www.plugandplaytechcenter.com.

Plug and Play Contact

Fintech Europe Team

frankfurt@pnptc.com

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SOURCE Plug and Play

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