Ben Franklin Tech Partners just announced the eight startups participating in its inaugural fintech accelerator program and the list of companies gives us a strong sense how quickly Philly’s fintech space is growing. As we reported in February, the new accelerator program is the region’s first support program for tech companies in the financial services space, and it’ll run in partnership with the D.C.-based investment firm Village Capital.
The 12-week program will kick off soon on April 24 and by the end, the eight companies will determine which two startups in the group should be rewarded $25,000 in investment capital. Participants will receive mentorship from industry experts including SEI, Wells Fargo, Vanguard, InstaMed and Safeguard Scientifics. And over the course of the program, they’ll focus on learning how to grow their businesses through Village Capital’s investment readiness curriculum.
The eight companies come from all parts of the financial services spectrum and nearly all of them are based in the Philadelphia region. A number of the companies also offer financial services solutions for big problems in education, real estate, philanthropy and health care. “With the blend of both impact-focused and transaction-based fintech concepts, it’s an impressive range of companies, and a great indicator of the depth of opportunity in our region,” said Ben Franklin president and CEO RoseAnn B. Rosenthal in a statement.
Here’s who landed a seat in the accelerator’s inaugural class:
- Asset-Map: a platform that creates interactive visuals blending design thinking and personal finance to deepen client conversation.
- Bright Idea Energy: a service that pays for and installs LEDs for free, and shares the savings with its partners.
- College Affordability: producers of EFC PLUS; software that helps families and financial advisors navigate the various college financial decisions from saving for college to student loan repayment.
- Factury: a trading and settlement network with applications for the secondary loan market, connecting lenders with institutional investors.
- FinPay: a platform to provide patients with financing solutions at point-of-care so they are able to afford the healthcare they need, and deliver a 5-Star patient financial experience that mirrors the high quality clinical care they receive from their doctor.
- FixList: a real estate data analysis company that offers tools and services to help lenders, developers, and community groups make smart, impactful investments in the built environment.
- NeedsList: a platform that helps individuals find effective ways to meet refugee needs from anywhere in the world, while supporting local economies and grassroots innovation.
- PeopleJoy: a new employee benefit program that attracts and keeps millennial talent using student loan repayment assistance; for CEOs and business leaders struggling to address a talent shortage.
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