FinTech Tops the 500 Startups Accelerator 2016 Batch

January 28, 2016     By : Sofia

500 Startups, a leading global venture capital seed fund and startup accelerator managing $200 million in assets and having invested in 1300+ technology startups, has announced the new batch of startups that will join its accelerator program this year.

Batch 16 consists of 53 startups. 500 Startups aims to support diversity among participants by having all types of startups with founders from all over the globe. According to the official website, 26% of Batch 16 have at least one female founder and 32% are from outside Silicon Valley or the US. This year signifies the first time an accelerator company from Nigeria joining the 500 Startups team along with startups from Brazil, India, Sweden, China, Estonia, Russia, Indonesia, Canada, Ireland, Israel, the UK, Serbia, Argentina, Spain, Poland, Australia, Ecuador and Indonesia.

Batch 16 has five major industry themes: FinTech, Digital Health, ViceTech, HR/Workforce Development and SportsTech. A majority of the Batch 16 companies are later-stage seed companies making between $10,000 and $100,000 per month in revenue. As has been the case with recent batches in the 500 Startups accelerator, they will focus on distribution and fundraising.

Here is the list of FinTech startups admitted to Batch 16:

– Albert provides financial advice for free.

– ArrowPass is an NFC-based secure gate control and cashless closed-loop payment solution for events.

Bglamor is an international trading platform that specializes in buying popular items for women.

– Finova Financial is a socially responsible technology-based lender that is transforming the traditional $5.3-billion US title lending market.

– Float is a mobile app and an online tool that provides easy access to high-quality credit

– iBillionaire tracks what Warren Buffett, Carl Icahn, Bill Ackman and other financial titans are buying and selling.

– M-vendr is a UK-based technology company that—through its mobile POS apps, prepaid value distribution and payment aggregation solutions—is revolutionizing the way prepaid voucher products, payments and financial services, are delivered to customers across the globe.

– Qwil provides on-demand pay for the on-demand worker.

– Rize automates the saving process for millennials through technology and behavioral science.

– Romit is like PayPal for underserved customers and industries.

– Simplifund is a San Francisco-based financial enterprise software company, which provides access to and facilitates the distribution of alternative investments.

– tagMonkey is a platform to make RFID and IoT simple to use and develop for.

– YouStake is the first fully integrated sports-staking and sponsorship platform that allows the masses to invest in skilled sports players for entry in live events.

Among HealthTech startups are YoDerm (on-demand acne consultations from online dermatologists), Neutun (wearable software for chronic conditions), Cognuse (a comprehensive rehabilitation platform for chronic care) and Angel Sensor (wearable sensor and open-source platform for mobile health developers).

Other startups include Ader, Worthix, WorkGenius, Voyajoy, UpCraft Club, Transtutors, Ticktate, Tackl, Riide, Resource, RapidAPI, Qualio, Podozi, Pilotly, Phenom, OpenSponsorship, nurseVersity, Mentimeter, Mars Reel, ManyChat, MaestroConference, Ingu Solutions, Indemand, iGrow, HandStack, FoxType, Faception, Easy Ten, Buildcon, AmpleMeal, Arka, Bigfinite, BottlesTonight, WorkAmerica and BrewPublik.

500 Startups has actively been investing in financial services startups such as Credit Karma, WePay, Simple (acquired by BBVA), ReadyForZero, FeeFighters (acquired by Groupon), Recurly, CoinPip etc. They have also invested in eight bitcoin-related startups to date and they plan to invest in another 10–20 per year going forward. Sources also reveal that their demo day will take place in mid-May at Levi’s Stadium (home of the San Francisco 49ers football team) in Santa Clara, California.

Stay Fresh on FinTech. Get our Daily Insights.

Sofia

Sofia is a contributing writer for LTP based in New York. She is a market research professional skilled in data analysis and visualization. Sofia has an extensive experience in consumer behavior studies and marketing analytics. She is passionate about disruptive startups with innovative business models that are having a powerful impact on the industries.

If you have any suggestions or questions for the author, please email us at follow@letstalkpayments.com