A new startup accelerator welcomes the future of financial technology (FinTech) – and it's not in Silicon Valley or Silicon Alley.
SixThirty, a St. Louis-based accelerator program that invests in FinTech startups, has announced the names of the four companies that will take part in its inaugural class.
The 16-week accelerator program will provide selected FinTech startups with $100,000 in funding, hands-on training, mentoring and networking opportunities with the top financial services companies in the region. [Read related article: Business Incubators and Accelerators: Here's the Big Difference]
“The four companies in our first class are the future of FinTech,” said Jim McKelvey, SixThirty managing partner and Square co-founder. “Thanks to SixThirty, they’ll have all the right opportunities to connect to St. Louis’ huge network of financial services companies and professionals. That will give them a big advantage and make growth that much easier.”
Of the 100 applications the program received, 70 percent of which were from outside the St. Louis region, the following four companies were chosen to take part in SixThirty's first accelerator class:
- Hedgeable, founded by Matthew Kane and Michael Kane, a next-generation investment management firm that provides low-cost, risk-managed investment products in response to the financial crisis.
- MiiCard, founded by James Varga, an Identity-as-a-Solution (IDaaS) provider that verifies identities online using a patented process to leverage the trust between individuals and their financial institutions.
- Upside, founded by Tom Kimberly and Juney Ham, a goal-based investment management platform that uses financial science to help young professionals and families reach their financial goals.
- XYverify, founded by Elliot Klein, a mobile payment authentication solutions provider that protects consumers, merchants and financial institutions from the risks and costs of identity theft and fraud.
SixThirty selects eight financial-based technology startups each year, four for the fall class and four in the spring. SixThirty is backed by the St. Louis Regional Chamber and venture capital firm Cultivation Capital.