World-leading global accelerator Startupbootcamp(SBC) Australia hosted their first FinTech Demo Day at the Forum Melbourne today. After 87 days of hard work, the 10 startups chosen for the accelerator program pitched to a room of 350+ partners, mentors, investors, industry experts, and guests.
This year’s Demo Day showcased teams from around the world, including Australia, UK, Hong Kong, India, Singapore, Myanmar, Taiwan, and the United States. Selected from almost 900 applications from 59 countries, the teams chosen for the program are the epitome of innovation and disruption in the FinTech sector; they reflect the new Australian financial horizon.
Two of the teams are considered scaleups, with valuations over $10M AUD even prior to beginning the program, and 90% of the teams are incorporated outside of Australia but are looking to expand here. All 10 startups are focused on addressing themes under the umbrella of financial inclusion, such as customer centricity, open banking, and asset & wealth management.
Guests experienced a full day with a welcome from FinTech Minister Senator Jane Hume, in which she shared her experience working with startups and their role in the FinTech industry post-Royal Commission. We also heard from SBC corporate partners, including Jonathan Davey of NAB, Dwayne Crombie of Bupa, as well as upcoming fintech trends from Rebecca Schot-Guppy of FinTech Australia, and Chris Holtby of the UK Department for International Trade.
Along with the pitches, the startups shared some exciting announcements. For instance, the cohort signed 20+ pilots throughout the program.
Trevor Townsend, CEO of Startupbootcamp Australia, said: “With all companies postrevenue and showcasing significant traction even before entering the program while disrupting the fintech sector across numerous verticals, this cohort has impressed us from beginning to end. We are all excited to see these teams launch their businesses and continue working with some of the most influential corporates in Australia.”
Brian Collins, Managing Director, FinTech Australia said, “With this cohort Melbourne hastruly showed why it is one of the most effective fintech ecosystems on the globe. With the support of our corporate partners and mentors these 10 companies were able to get over 20 signed commercial agreements in only 3 months, with many of the teams exploring investment to scale their teams even further. It is a testament to the powerful community the companies were able to engage with from day one.”
Jonathan Davey, NAB Executive General Manager, Digital & Innovationsaid: “The DemoDay clearly demonstrated the exceptional talent being fostered here locally, with an impressive group of both startups and scale-ups involved. We’re looking forward to seeing how these teams develop further following the StartupBootcamp program.”
Throughout the three-month program, the teams were supported by corporate partners, including NAB, Bupa, AustralianSuper, Capgemini, Deloitte, DiUS, YBF Ventures, KHQ Lawyers, Pitcher Partners, Stripe, Amazon Web Services, and the Victorian and Australian Governments. The startups were able to leverage the relationship between partners and SBC to achieve innovation in corporate-startup collaboration. Along with the assistance of the partners throughout the program, Demo Day was sponsored by the UK Department for International Trade.
The 10 teams presented at SBC Australia’s first FinTech Demo Day:
- ChintaMoney (India): a mobile application that allows users to implement bucketing methodology (the same methodology as the Barefoot Investor) to plan & save for goals and earn discounts on spending, bringing them closer to financial well-being.
- Emotics(Hong Kong): a regtech company that drives positive employee conduct through behavioural change with a suite of analytics for online compliance training to ensure employee engagement and optimise training content.
- Fractal(UK): is an API based payments and insights platform for financial institutions who service Small-Medium-Enterprises.
- Infovera(United States): an online marketplace that gives business owners an industry benchmark score and recommendations to increase the value of their company.
- Insurevite(Singapore): a solution that enables insurers to revolutionise their customer experience through social messaging apps.
- Pencil.(Australia): a SaaS platform for wholesale suppliers and distributors. It’s the easiest way for new accounts to apply for trade credit and the fastest way for suppliers to get paid.
- Trading Valley(Taiwan): an investing intelligence engine that combines machine learning technology and a quantitative model for delivering a next-gen wealth management experience.
- Youthful Savings(United States): a learning marketplace that empowers the next generation with financial wellness, entrepreneurship training and enrichment education.
- Zigway (Myanmar): makes bulk buying of essential goods and services affordable for low-income families through their monthly subscription box.
- Zscore(India): a machine learning-based platform that increases the usability of data by automating manual tasks.