The DCU FinTech Innovation Center Announces 8 New FinTech Start-ups for Winter 2017 Class

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Center’s newest seed-stage cohorts will work, learn and collaborate in innovation center

“We are very excited about recruiting our largest start-up class to date and deepening the Center’s support of the growing FinTech community here in Boston.” - Vasilios Roussos

The DCU FinTech Innovation Center (the “Center”), the leading sponsor of FinTech startups in Boston, announced today the eight new seed-stage ventures in the Center’s latest Cohort. The Center is the collaborative effort between Digital Federal Credit Union, better known as DCU, and Boston-based coworking network company, Workbar.

The January 2017 Cohort Includes:

  •     Doni, Inc. - Social Goal Saving - Social gifting app for planning, saving and buying together.
  •     Energetic Insurance - InsurTech/CleanTech - Data-driven insurance product for commercial solar projects.
  •     FutureFuel - Student Debt Repayment - Tech jobs marketplace eliminating student debt.
  •     Lara - Personal Finance - Daily money management for Millennials.
  •     LearnLux - Personal Finance - Helping financial institutions acquire, engage, and retain millennial customers.
  •     Perfectosoft - Payment Processing - Helping merchants optimize payment processing.
  •     RateGravity - Residential Mortgages - Redefining how consumers finance their home.
  •     SalesBrief - Marketing Automation - Marketing automation for a frictionless customer journey.

The Center, fully sponsored by DCU and managed by Workbar, accepts seed-stage FinTech startups varying from concept stage to product fit stage and that can benefit from the FinTech ecosystem of mentors, investors, institutions, and value-added service providers that the Center provides. DCU executives set the path in providing mentorship, assistance, and an open platform for working with the startups.

David Chang, Senior Cohort member, former COO of Paypal, and PersonalVC founder, welcomed the new class and stated that, “DCU/Workbar have been terrific partners for us. They recognize the power of startups to innovate and have taken a leadership role to create a welcoming, collaborative space in the heart of downtown Boston. We are lucky to be part of the program."

“The Center is an opportunity to go beyond DCU’s legacy of promoting and adopting innovative banking solutions,” stated David Araujo, DCU’s Vice President of Technology. “The space serves as a platform to help drive the Boston FinTech ecosystem and banking industry forward. In addition, the Center also allows us the ability to work hand in hand with a group of pioneering start-ups who are adopting new technologies and rethinking solutions.”

The Center’s key focus is on providing startups with the support, tools, and opportunities to acquire their first customer(s) and gain market traction. Rather than putting all startups through the same structured program, the Center provides individual resources as each company and entrepreneur requires throughout the year. The latest Cohort marks a shift in programming for the Center, as it moves towards providing one-year of free dedicated office space instead of six-months to Member startups. The shift reinforces the Center’s commitment to supporting the development of FinTech startups in Boston during a crucial stage in their growth. Companies now have the time and resources to develop over a pivotal stage in their development and reach significant milestones while at the Center.

“We are very excited about recruiting our largest cohort to date and deepening the Center’s support of the community,” says Managing Director, Vasilios Roussos, who joined the Center in September of last year to direct its growth and outreach. Roussos, who is also Innovation Centers Head at Workbar states, “People are enthused about a growing FinTech startup center in Boston. With new partners and mentors joining regularly, the Center is connecting even more people, resources and networks to help Members succeed.”

The new class joins five prior Cohort Members who focus on venture capital, real estate, distributed ledgers, and gamified savings. The senior Cohort members include Adjoint, Arx Urban, Good Growth Capital, PersonalVC and Pyggly. Three additional companies graduated the program and will be working out of the Center’s alumni space. These include AlphaPack, Cielo and The Texthood.

Ravi Balasubramanian of AlphaPack says, “The support we received from the DCU FinTech Innovation Center has been critical to the growth of our company. Access to DCU leadership and connections into the Boston FinTech ecosystem strongly boosted our growth trajectory.”

About the DCU FinTech Innovation Center
The DCU FinTech Innovation Center is the leading sponsor of FinTech startups in Boston and is dedicated to fostering FinTech startups and the Boston FinTech community. The Center focuses on helping startups gain initial customer traction and provides seed-stage FinTech startups with one year of free mentorship, workspace, community and a professional network. The Center is fully funded by DCU, is supported by DCU executives and is operated by Workbar.

For additional information, visit http://www.dcufintech.org.

About DCU
DCU is a not-for-profit financial cooperative based in Massachusetts that serves over 500,000 members across all 50 states. DCU offers a full range of financial services to consumers and businesses, including banking, lending, financial management, insurance and realty.

For additional information, visit http://www.dcu.org.

About Workbar
Workbar creates great places to work that bring the ideal office to you – convenient, affordable, and populated by a friendly mix of motivated professionals. Its growing network of high quality coworking spaces offers independent professionals, small businesses, startups, remote teams, and other mobile professionals a mix of comfortable work space, meeting space, and amenities so you can make the most of your work day.

Workbar’s hub-and-spoke network is connecting urban centers to well-placed suburban locations, making coworking more connected, convenient, and local. A robust digital presence and active events calendar supports interaction and community both online and in person; members share tips, ideas, and recommendations, identify the right tools and talent, and are inspired to do great work.

For additional information, visit http://www.workbar.com.

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Vasilios Roussos
@DCUFinTechCtr
since: 10/2014
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