DCU FinTech Center Admits June 2017 Cohort Amidst Record Demand

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

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"The diverse mix of problem-solving concepts represented in this year’s cohort is fantastic" - David Araujo

The DCU FinTech Innovation Center (the "Center"), the leading program focused exclusively on powering the next generation of financial technology companies in New England, announced today the 10 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 June 2017 Cohort Includes:

  • Coalesce.Info - Data & Analytics - Speeds-up research and analysis with machine learning.
  • Intelligent Lending Advisers - P2P Lending - Buy side investing in peer to peer loans.
  • IRAengine - Alternative Investments – Enabling pension fund investing in alternative investments.
  • Keel - Investment Platform - Credible investment ideas from verified peer investors.
  • MakeCents - Payments - A mobile solution for cash.
  • Matchupbox - Blockchain - Digital identity as a service for banking and insurance.
  • Skydeo - Data & Analytics - Mobile audience data and insights.
  • Spotme - P2P Lending - Structure, execute and track a personal micro-loan.
  • Tengu - Blockchain - Smart payments platform.
  • Virtual Cove - Data & Analytics - Immersive reality solution for understanding big and/or wide datasets.

The Center accepts seed-stage FinTech startups varying from concept to product fit stage that can benefit from the FinTech ecosystem of mentors, investors, and institutions provided by the Center. DCU executives offer mentorship, assistance, and an open platform for working with the startups. Admitted startups receive one year of free office space at the Center, located in Boston’s financial hub and near the major transportation center South Station. There is neither a cash nor equity payment required from any participating company.

Vasilios Roussos, Managing Director of the Center, remarked, "We are incredibly excited to help foster the continued growth of New England’s FinTech ecosystem. This cohort represents an incredibly strong group of 10 selected from over 60 applications. It has been truly inspiring to see the depth of talent and technology in this ecosystem."

"The diverse mix of problem-solving concepts represented in this year’s cohort is fantastic,” stated David Araujo, DCU's Vice President of Technology. "We look forward to working with the incoming teams to develop, test, market, and scale their products to be ready for future growth in the rapidly-changing world of financial services."

The Center’s earlier cohorts have encountered successes that founders and early employees attribute in part to their participation in the program. RateGravity, a January 2017 cohort member, recently raised $2 million in venture capital while working out of the Center. RateGravity’s CEO, Patrick Boyaggi, stated that, “The Center is a great place to meet and collaborate with other entrepreneurs. DCU has made a real commitment to supporting startups and the Center is playing an integral role in strengthening the Boston FinTech community.”

Founded in June of 2014 and relaunched in the fall of 2016, the Center has been building on its strengths by identifying the most promising financial technology startups, connecting them with world-class enterprise customers and partners, and ultimately helping to prepare them for broader commercial success. The new cohort began recently and applications for the December 2017 Cohort will open in the fall of 2017.

About the DCU FinTech Innovation Center
The DCU FinTech Innovation Center is the leading sponsor of FinTech startups in New England 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 600,000 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 enterprise employees a mix of comfortable work space, meeting space, and amenities.

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

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Vasilios Roussos
@DCUFinTechCtr
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