Meet 9 international startups that have been selected for Wise Guys Fintech 3 accelerator program that has just started in Vilnius, Lithuania. During the application process, more than 200 startups applied, there was substantial interest also from Lithuanians. Program is run in strategic partnership with Swedbank, OP Lab (OPBank), Google Developers Launchpad and Sorainen, as well as ROCKIT as community partners.
Acceleration program will run from October 2019 till February 2020 at several Swedbank office locations in Vilnius. Selected startups will receive up to 50K EUR initial investment with follow-on possibility, modern office space and intense mentorship driven program. It will have two tracks: a longer program for startups that need to fine tune their product-market fit, and a shorter and more intense program to startups with monthly recurring revenue above 5K EUR.
Here is the list of selected startups:
Pre product-market fit
Costs (Ukraine) – helps you to control and manage your Cash flow in a way that leads you to your Goals.
Evoestate (Lithuania) – is real estate crowdfunding aggregator, which provides investment opportunities from over 15 platforms and makes cross-border investments hassle-free.
Haslle (Luxembourg) – Company payments and benefits management solution that enables teams to spend and be rewarded for saving money real time.
Loki (Turkey) – A cloud-based secure network platform that can be managed without any technical knowledge.
MANU (Lithuania) – develops behavioral AI funnel to help lender find quality borrowers early and save on loan origination.
Patentbot (Ukraine) – is a bot that helps to protect intellectual property online and reduces the entire process of filing documents.
Post product-market fit
Investory (Austria) – an investor relation management platform for startups, investors and accelerators.
Lexyom (Lebanon) – an online marketplace aiming to simplify the legal experience through automation.
Ondato (Lithuania) – brings you a completely customized KYC process built according to the best practices on the market.
“Having run two B2B Fintech focused programs already, we see that one of the biggest challenges early stage Fintech startups face is the access to banks and other large enterprises that could become their first clients or help co-creating the perfect product. Building such relationships takes time and trust. Second challenge no doubt is everything related to regulations and licencing. We see strategic partnership with the largest banks in the region, Google and law firm Sorainen as an important shortcut for our startups. And we believe that this network of support will work both ways, as corporates can learn a lot from startups about lean approach and perseverance,”says Cristobal Alonso, El Patron aka Global CEO at Startup Wise Guys.
Partnership with these companies is widespread throughout the acceleration program, starting from participation at the final phase of the selection and finishing with potential pilot projects after the program. Swedbank has been supporting Wise Guys Fintech programs since their inception. The first two programs were run in Riga and hosted at Swedbank Latvia HQ co-working DoBe, and Swedbank will be a strategic partner for the third program as well.
Both Swedbank and OP Bank will provide international mentors and potential pilot projects with the best fit new businesses from the accelerator. On top of mentoring during Regulatory Week, law firm Sorainen will also provide free-of-charge initial support in Fintech licencing. As part of Google Developers Launchpad startups will be eligible for Google Cloud and Firebase credits, as well as additional product related help and mentoring.
While these benefits are solely for startups participating at the Wise Guys Fintech program, there will be regular events open to the ecosystem and organised together with ROCKIT – SWG + ROCKIT Masterclass.
Wise Guys Fintech 3 is the third Fintech focused program run by Startup Wise Guys accelerator and the second accelerator program run in Lithuania as a part of the „Financial instrument „Accelerator fund”, financed by European Regional Development Fund (ERDF)”. First program for B2B SaaS startups was successfully completed in June, 2019 by 12 startups.