Fin+Tech, an Italy-based acceleration program supporting startups in the Fintech and Insurtech space, has completed the selection of the 16 start-ups that will join the first cycle of the program, according to a public statement.
The accelerator is part of the CDP National Accelerators Network, which operates throughout the country aiming to boost the growth of promising young firms.
Fin+Tech is described as the outcome of an initiative launched by CDP Venture Capital in collaboration with Digital Magics, Startupbootcamp, Fintech District, Nexi and Credem.
Fin+Tech reports that more than 300 applications were submitted, of which approximately 50% came from outside of Italy.
The Fin+Tech said that selected start-ups will have the opportunity to access the program, benefiting from an initial investment of €48,500 as well as a 4-month acceleration period with the support of a network of mentors, industry leaders as well as the venture capital world.
Start-ups who show the most promising opportunities for growth will be eligible for a follow-on investment of up to €300,000.
The institutional partner of the initiative is Consob as well as many other corporate partners including: Anima Sgr, Banca CF+, Banca Mediolanum, BNL Gruppo BNP Paribas, BNP Paribas Cardif, Compass, Credem, Excellence Consulting, Net Insurance, Nexi, Reale Group. In addition, CRIF and Base Digitale.
Technical partners include: Studio Legale Ferrari Pedeferri Boni (FPB), ItaliaFintech, Italian Insurtech Association, and Swiss Insurtech Hub.
The three-year Fin+Tech program expects to accelerate 16 start-ups per year for a total of 48 start-ups in 3 years and aims to create a strong ecosystem at the national level able to increasingly attract startups and international investors.
The accepted firms are as follows:
- Cents, a social impact platform that combines the experience of giving with every purchase, connecting people, companies, and financial institutions to the Third Sector.
- Earnext SA, a full wealth management platform aimed at financial advisors.
- Exain, blockchain-based platform for tokenization and asset management.
- Flowbe designed and engineered TENet (Trusted Exchange Network): the first interoperability platform that allows companies/operators/users to interact within specific processes in a natively digital and certified way.
- Icashly, digital banking mobile app aimed at simplifying and improving people’s financial aspects: pay, save, invest, and learn.
- Ooki, app for financial well-being, allows users to optimize their level of credit risk through open banking.
- Politically, a platform that focused on fundraising for political campaigns aiming to create transparent and digital donations.
- SplittyPay, a platform offering innovative payment solutions.
- Aptus.ai, a solution that grants banking regulations accessible in machine readable format by applying proprietary artificial intelligence technologies to automate impact analysis in a multi-language, cross-country context.
- Coyzy, mobile personal safety and violence prevention application based on crowd-sourcing concept, with support from local communities.
- Delega, cloud-based fintech SAAS whose mission is to fully digitize the bank power of attorney process for mid- to large-sized companies.
- Fairsich, provides IoT solutions and software to assess a driver’s level of risk in real time, enabling dynamic pricing models in mobility.
- Insurance4Music, the first broker entirely dedicated to the music world, which, through a digital platform, offers different insurance solutions, from insurance on musical instruments to event policies.
- Agree.Live, simplifies the process of remote sales of financial products, allowing banks and insurance companies to meet customers and prospects in video meetings, share documents and/or contracts with them and receive them digitally signed.
- Open-Source Modelling, develops and delivers actuarial and/or risk models through open-source solutions.
- TrueScreen, an app that allows to certify photos, videos, screenshots, documents, and audio recordings, guaranteeing with extreme probative value that any content generated by smartphone or tablet is authentic and unchangeable.