Startupbootcamp FinTech picks top 9 LatAm startups to join inaugural Mexico City program

Startupbootcamp FinTech picks top 9 LatAm startups to join inaugural Mexico City program

19-Jun-2017

Mexico City, 19 June 2017Startupbootcamp FinTech, the leading global FinTech accelerator focused on innovation for the financial services industry, announces the 9 FinTech startups chosen to be part of its first program in Latin America, based in Mexico City. The program is run in partnership with Finnovista, the leading champion of FinTech innovation in Latin America.

The cohort was selected after an intense final evaluation over a three-day selection process named Selection Days. The top 17 FinTech startups from the region, chosen from 275 applications,  competed in front of the Startupbootcamp team, representatives of the program’s corporate partners, including  Visa, Fiinlab powered by Gentera, BanRegio, EY Mexico and White & Case, and more than 70 mentors.

The chosen startups predominantly focus on payments, personal and enterprise financial management solutions. The selected teams are from all across Latin America, including Mexico, Colombia, Chile and Ecuador.

“Before launching a program in Latin America, we realised that there is a prevailing need for each region to have its own FinTech centre, which is why we are now in Mexico: the heart of the ecosystem in Latin America”, said Nektarios Liolios, CEO and Co-Founder of Startupbootcamp FinTech.

Nektarios Liolios, Co-founder and CEO Startupbootcamp FinTech & InsurTech

However, Latin America is very different from other FinTech ecosystems, and although the gaps in the access of smartphones and Internet services have been reduced, there is still more to do to service the section of the population and SME’s that does not have access to any financial services.

Liolios adds: “In our selection, we are seeing a response to this need in the products the startups are offering, focusing on payments and enterprise and personal finance management: segments in which we find the most innovation in the region.”

“We want to be a key player in the region’s entrepreneurial ecosystem, and with that aim, we seek to catapult innovative solutions in digital financial services that have an impact on the human and economic development of Latin America, focusing on reducing relevant gaps for the population”, said Eduardo Morelos, Program Director of Startupbootcamp FinTech Mexico City.

Eduardo Morelos, Program Director Startupbootcamp FinTech Mexico City

The nine winners, selected to for 2017 Startupbootcamp FinTech Mexico City Program are:

Dapp (Mexico): payment wallet that tackles the strong problem that exists with card information theft and unrecognized charges. It permits its users to pay other users, pay inside stores or pay in websites, only by scanning technology codes and authorising payments with their fingerprint.

Dinerio (Mexico): The first automated and free personal finance platform in Mexico, capable of linking users’ bank accounts to download and categorise their transactions automatically.

Übank (Chile): Mobile app that helps people save automatically for their financial projects and goals, using saving rules that transform everyday habits and actions into saving opportunities.

Mensajea (Ecuador): Set of technologic tools to automate customer service, sales and marketing.

DILE (Colombia): startup that increases customer acquisition in financial and insurance companies using artificial intelligence and predictive analytics.

Flink (Mexico): online banking solution.

Tesseract (Mexico): company specialised in computer security solutions, providing accessibility to cloud services at low cost.

PayIt (Mexico): an easy way to pay and receive payments from people you know.

Friendly Transfer (Ecuador) as they named themselves, the “Uber” for international money transfers.

Startupbootcamp FinTech will boost the 9 selected startups for three months beginning on July 17, providing them with access to more than 100 mentors, connections to a global network of corporate partners, industry experts and alumni from more than 40 countries.

The teams will be based in Mexico City and will receive 15,000 euros in cash for living expenses.

At the end of the three-month intensive program, the teams will showcase their companies to more than 400 investors and industry experts to raise capital and grow their business at Demo Day (taking place on October).

After graduating from the program, the startups will continue to be supported by the Startupbootcamp Global Alumni growth program, which supports more than 400 startups worldwide.

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