In the past 5 years, FIS’s accelerator has helped 57 startups find product/market fit in the difficult-to-get-started fintech world. They have produced 11 Finovate award winners including 7 Best of Show winners.
Here are 10 members of the 2020 cohort which was conducted remotely. Two were selected for additional recognition:
- TrustStamp was selected by the virtual audience (via Zoom poll) as Best of Show
- SequreTek was selected MVP by the FIS folks. The MVP company will automatically receive a slot to present at Finovate next year.
Cirrus Secure
Description: Secure document portal for lenders
HQ: Denver, CO
Founded: 2014
Sample Clients
– Zions Bank
– NBH Bank
– Bank of the West (BNP Paribas)
– Byline Bank
– ConnectOne Bank
Award: MVP of the FIS 2020 Fintech Accelerator
Founder: David Brooks, CEO
Dasceq
Description: Platform for improving the collections process and customer experience
HQ: Dallas, Texas
Founded: 2017
Metrics (last 3 years):
– increase agent efficiency 10% to 45%
– collect 3% to 10% more money
– power 2,700 collection agents
– collected $31M delinquent payments
– created 125 consumer profiles across 100 variables
– captured 7 billion proprietary data points
Founder: Abhishek Goel, CEO
LeapXL
Description: No-code application development program for financial institutions
HQ: Little Rock, Arkansas
Founder: Marla Johnson, CEO
Mall IQ
Description: Location-based mobile engagement system
HQ: San Francisco + Instanbul
Founded: 2015
Raised: $1.5M
Founders:
– Batu Sat, CEO
– Ferit Ozan Akgul, CTO
Metrics
– 10 million monthly active users
– 5 billion monthly location calls
Sequretek
Description: Cybersecurity for financial institutions
Business model: Enterprise SAS
HQ: Mumbai + Woodbridge, NJ
Funding: $5M
Metrics
– 350 employees including 150 researchers and developers
– 80+ customers in USA, EU, and India
– 50% CAGR past 5 years
Founders
– Anand Naik, CEO
– Pankit Desai, CEO
Silot
Description: White-labeled merchant services app
Business model: Distributed via banks to merchants
HQ: Singapore
Raised: $11.7M
Founded: 2017
Founder: Andy Li, CEO
Stratyfy
Description: Helps lenders improve risk-based decision-making across their organization
Business model: Enterprise
HQ: NYC
Raised: $1.8M
Sample customers:
– LendKey
– Aflac
– CreditSpring
Founder: Laura Kornhauser, CEO
Surfly
Description: Co-browsing, document sharing and video chat for digital customer service
Business model: Enterprise sales
HQ: Amsterdam
Funding: $3.8M
Founded: 2012
Founder: Nicholas Piel, CEO
Metrics: Grew from 9 to 30 people in past 7 months
TrustStamp
Description: Biometric authentication system to reduce fraud while protecting user privacy.
HQ: Atlanta, Georgia
Raised: $15.5M
Key customers:
– Synchrony
– Mastercard
– Bloomberg
– Equifax
– Naea PropertyMark
– Vital
Key investor: Mastercard
Metrics: $2.1M revenue in 2019
Award: Audience choice for Best of Show, FIS 2020 Accelerator Demo Day
Founder: Andrew Gowasack, President
XpenseOne (aka Obloco)
Description: Automated expense/card management solutions for SMB customers.
Business model: B2B2SMB
Target customers: SMBs with 5 to 50 expense account users
Wholesale pricing: $15/mo per business (unlimited users per business)
HQ: Spokane, WA
Founded: 2014
Founder: Jim Schlosser, CEO
