SIOUX FALLS, S.D., Feb. 26, 2021 /PRNewswire-PRWeb/ -- Falls Fintech, the fintech accelerator founded by Central Payments in 2019, is excited to announce the five companies that make up its third cohort of fintech startups. The 12 week program kicks off on March 1, 2021. Falls Fintech is a business accelerator program geared towards early-stage fintech companies and concludes with a partnership with Central Payments.
"Our third cohort of entrepreneurs are developing fresh approaches to user experience and technology in order to bring greater transparency and cost savings to financial activities. Our Falls Fintech team is eager to spend time working alongside these companies and help prepare them for market launch," said Nikkee Rhody, Managing Director of Falls Fintech.
This Falls Fintech session will once again have an Entrepreneur in Residence (EIR) who has already overcome many of the challenges of starting a company and can collaborate with other fintech founders. Cohort 3 EIRs are Karen Rios and Corey Beebe, founders of Lifesaver. As the EIRs, Lifesaver will take part in the Falls Fintech curriculum, mentor other cohort participants, and simultaneously integrate with Central Payments for a market launch soon after completion of the spring session.
Trent Sorbe, President and Founder of Central Payments and Co-Founder of Falls Fintech, said "We're delighted about the opportunity to support the next generation of financial services companies and look forward to bringing their innovative products to market at the end of their Falls Fintech experience through Central Payments."
All are welcome to join the virtual watch party to meet and hear from the spring 2021 cohort. Register here:
Thursday, March 3, 3:00pm – 4:00pm CST
The full line-up of impressive participants in cohort 3 are:
CEO: Karen Rios
CTO: Corey Beebe
HQ: New York, NY
Lifesaver is the universal banking platform that prioritizes financial health for consumers and automates cross-selling for banks.
2) Draft Fuel
CEO: Tom Mangan
COO: Alex Cullingford
HQ: Philadelphia, PA
DraftFuel is a bankroll management app that connects to a user's existing bank accounts and credit cards for the purpose of monitoring and rounding-up to save the spare change from their daily purchases. It also allows users to save a fixed percentage of their bank deposits into an app-integrated, re-loadable, pre-paid virtual debit card to connect and play with on their favorite gaming platforms (Ex: Draftkings, Fanduel, BetMGM, etc.).
CEO: Katrin Kaurov
CPO: Aleksandra Medina
HQ: New York, NY
Frich is the first social finance app using gamification and social media elements that empower Gen Z to take control of their social life spending through goal setting with friends.
CEO: Michael Gauthier
HQ: Toronto, CAN
Frugl gives you more confidence in your financial future by empowering you to automatically put away more savings, in ways that work for your lifestyle.
CEO: David Gertner
President: Ben Gertner
HQ: Boston, MA
Slyde is a consumer fintech company saving users time and money on bill and subscription payments. We make it easy to track, manage, and pay recurring bills and subscriptions from a single place while helping users avoid unnecessary fees and take control of their financial lives.
About the Program: Falls Fintech is a custom, 12-week program designed to accelerate market readiness for early-stage financial technology startups. The high-intensity curriculum is delivered by a distinguished group of payments, technology, and banking professionals. In addition to a financial investment of $15,000, at the conclusion of Falls Fintech, successful companies will have completed all the necessary steps to come to market with a bank partnership and access to the payments ecosystem through Central Payments and its Open*CP platform.
About Central Payments and Central Bank of Kansas City
Central Payments is the payments subsidiary of Central Bank of Kansas City (CBKC) and is headquartered in Dell Rapids, South Dakota. Central Payments administers payment card and funds disbursement programs via retail, employer/payroll, and online outlets nationwide through Open*CP Fintech API Marketplace, one of the only true bank-as-a-service payments platforms and the technology responsible for Central Payments' rise to the fastest growing prepaid card issuer since 2015.*
CBKC is a 68-year-old family-owned bank located in the heart of Kansas City, Missouri and one of 135 financial institutions in the country certified by the U.S. Treasury as a Community Development Financial Institution. CBKC and Central Payments share the mission to provide high-quality financial products to consumers of modest means who historically have not enjoyed the benefits of affordable and accessible financial services. "Treat Each Customer's Balance as Though It's All They Have" guides our approach to product design, customer service, and affordability. Visit central-payments.com, fallsfintech.com, or centralbankkc.com for more information. Member FDIC.
- Source: The Nilson Report, 2015 to 2019.
Nikkee Rhody, Falls Fintech, +1 (605)521-7080, [email protected]
Melissa Otten, Central Payments, (605)354-5451, [email protected]
SOURCE Falls Fintech