These 11 fintech startups are all set to shape up the industry in Europe

Village Capital helps entrepreneurs make their vision turn to reality with its program. Now, the accelerator has announced 11 early-stage fintech startups will take part in its investment-readiness program, Finance Forward Europe. It is a part of Finance Forward, which is a multi-year global coalition led by PayPal and MetLife Foundation.

Fintechs taking part in Finance Forward Europe program

The Finance Forward Europe program uses tech to help low-income individuals and families manage their finances, save for the short-term and long-term and build wealth. During the COVID-19 crisis that has taken a toll on the financial health of Europeans, both small businesses and low-income groups are greatly impacted.

Of the 80 applications sent by entrepreneurs across the region with selected companies from the UK, Germany, Ireland, Croatia, Spain, and Denmark, 11 startups have been chosen to participate. What’s interesting is that five of these chosen startups are led or founded by female entrepreneurs. And, the participating startups will get intensive feedback from peers and mentors at virtual workshops. These startups will be able to establish connections with potential customers, investors, and industry experts.

Below are the 11 fintech startups taking part in the cohort to improve the financial health in Europe.

Picture credits: Creditstretcher

CreditStretcher (Denmark)

Founder/s: Christian Thisted, Jacob Pedersen, Lars Andersen
Founded year: 2018
Funding: €690k

CreditStretcher is building a solution, which enables SMEs to grow by providing fair access to credit via upfront financing on invoices. It also extends interest-free credit to the buyer by 60 days. With this solution, it is no longer necessary to compromise the credit. CreditStretcher is a customer-centric company enabling people and businesses all over the world to realise their full potential via technological and innovative financial solutions.

Picture credits: Elifinity

Elifinity (UK)

Founder/s: Maysam Rizvi
Founded year: 2018
Funding: NA

Elifinity solves the problem of financial vulnerability with its AI-driven platform. It connects with an individual’s data in a secure way to predict existing and upcoming financial challenges. It is an app, which lets individuals take control of their finances and create a better tomorrow. The company helps banks minimise losses on tough or loss-making accounts. Also, it improves customer engagement.

Picture credits: Finclude

Finclude (Ireland)

Founder/s: Ioanna Stanegloudi, Yiannis Giokas
Founded year: 2018
Funding: NA

Dublin-based fintech Finclude provides a pan-European creditworthiness and affordability score, which lets financial institutions and individuals assess the financial standing of a user by utilising transactional behaviour analysis and machine learning. The company offers financial well-being services that empower EU citizens with fair access to credit. Also, it will expand the retail credit markets for financial institutions. The fintech platform is secure, fully automated and ensures privacy as well.

Picture credits: Finmarie

FinMarie (Germany)

Founder/s: Karolina Decker, Caroline Bell
Founded year: 2017
Funding: NA

Berlin-based FinMarie empowers women to achieve financial independence. It does this by one-stop financial advice and a cost-effective investment solution, which provides an online investment platform using robo-advisor tools. Also, this startup educates them about money and investing through one on one advice sessions and corporate workshops. The mission of this firm is to support clients with financial and wealth management projects and help them find solutions that are right for their personal situations.

Picture credits: Libeen

Libeen (Spain)

Founder/s: José Manuel Cartes González
Founded year: 2019
Funding: NA

Libeen, a Madrid-based fintech startup enables individuals irrespective of income level or savings to access affordable homeownership via a simple, smart and flexible rent-to-buy lease format. Its #SmartHousing model makes homeownership affordable thereby letting them use the monthly rent to buy fully furnished and renovated house in the centre of the city. The company believes that everyone should buy a home sans sacrificing their finances or giving up what they like.

Picture credits: PiP iT

PiP iT (Ireland)

Founder/s: Ollie Walsh
Founded year: 2014
Funding: €1 million

PiP iT lets migrants living in Europe to send cross-border payments in cash to pay the bills of their family members more affordably and control how the money is being spent. It is a Digital Cash Collection platform, which enables loading cash into e-wallets, paying e-bills with cash, and paying in cash for online orders. By enabling cash payments, customers can avoid fraud or identity theft and need no credit card or bank account. Also, businesses benefit as they get easy and secure payments.

Picture credits: Portabl

Portabl (England)

Founder/s: Mike Minett
Founded year: 2018
Funding: NA

Portabl is building a smart financial services SaaS platform that provides flexible insurance, benefits, and financial packages. These will address systemic bias issues that freelance and gig-economy workers face all over the world. With real-time data and machine learning, it is possible to understand and present optimum levels of cover and benefits that suit them. Portabl also rewards users for the good behaviours by minimising their monthly subscription fee.

Picture credits: StudentFinance

Student Finance (Spain)

Founder/s: Mariano Kostelec, Marta Palmeiro, Sergio Pereia, Miguel Santo Amaro
Founded year: 2019
Funding: NA

Spanish startup Student Finance is a fintech and edtech company, which focuses on helping partner schools financing students’ education via Income Share Agreements (ISA). This will help increase educational opportunity and empower people to access high-impact careers. It lets users unlock their potential via digital skills. It brings about a transformation in the education industry by assessing the skills that are needed in today’s world to make education easily accessible and more affordable.

Picture credits: TellJo

TellJO (UK)

Founder/s: Dominic Maxwell, Rob Harlow
Founded year: 2017
Funding: NA

TellJO‘s customer wellbeing assessment empowers social landlords, utilities and financial institutions to better understand and serve vulnerable customers. It is a digital assessment tool that helps prevent payment arrears and minimise financial exclusion by helping customers assess their vulnerability levels and financial capability. TellJo works with the mission to help as many people struggling with the difficulties that come along in their life.

Picture credits: Vested

Vested (UK)

Founder/s: Kimberley Abbott
Founded year: NA
Funding: NA

Vested is a London-based fintech startup, which provides an impact investing platform, which uses a proprietary algorithm to assess and track the impact of an investment. This way, Vested lets people invest their money in companies and assets with the biggest positive impact on society. Vested provides simple, comparable and embedded metrics for your existing assets and platforms to help you and your clients make better investment decisions aligned with values and goals.

Picture credits: Worig

Worig (Croatia)

Founder/s: Deni Ćosić, Nino Cosic
Founded year: 2019
Funding: €60k

Worig builds a solution for tenants to simplify access to the housing market by removing the high costs and risks associated with renting a new home. Its solution helps build trust between landlords and tenants by providing secure downpayment options as well as verifiable credit score with its tenant scoring system. It also lets homeowners check if the tenant is employed or has an income source and know if the person is reliable.

Main image picture credits: FinMarie

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