The California-based incubator has accepted 23 new fintech startups, including those based on the blockchain technology, for its latest batch of program.
The startup acceleratorPlug and Play has just added 23 new startups to participate in its third part of the program. During a 12-week period, the partners of the initiative will work together with startups and take part in deal reviews, investments, acquisitions and mentor sessions.
The fintech program is supported by such corporate partners as BNP Paribas, Assurant, Deutsche Bank, Banco Original, Santander, Bank of the West, Capital One, JCB, Credit Suisse, Deloitte, Finstar Labs, USAA, Intuit, MUFG, Sumitomo, U.S. Bank and TD Bank.
“With our latest additions of globally leading financial institutional partners, our ecosystem continues to scale with opportunities for growth on behalf of our startups both in Silicon Valley and in markets across the world,” said the founder of Plug and Play FinTech, Scott Robinson. “This unprecedented level of support will result in new levels of innovation from our startups.”
The list of startups, taking part in the third batch of the program, also includes five blockchain companies.
Abra
The startup offers the blockchain-based platform for storing and sending the virtual currency via a digital wallet on your smartphone. Abra has raised $14 million in funding from such major investors as Pantera Capital, American Express, Digital Currency Group and others.
BlockSeer
The data science startup is focused on blockchain analytics and forensics. BlockSeer intends to offer tools for visualizing transactions realized in the bitcoin network. Its analysis instruments have been used by financial organizations and law enforcement, such as The Internal Revenue Service (IRS), The Federal Bureau of Investigation (FBI) and the Secret Service.
BlockNotary
The app, built on the bitcoin blockchain, allows users to store the digital fingerprint of their mobile data in the distributed ledger, thus minimizing the possibility of copyright infringement. Besides, the company developed Video Interview, a blockchain know-your-customer solution that was created to help companies reduce risks and ensure pleasant customer experience.
Skuchain
The startup has developed patent-awaiting innovative solutions aimed at improving the current supply chain and trade finance. Skuchain has also elaborated ‘Brackets’ (Blockchain-based Release of funds that Are Conditionally Key-signed and Triggered by Signals), what means a smart lock with digital keys that allow automatically transfer money when the agreements are met.
Token
Token creates software that is targeted at reducing risks of dealing with third party intermediaries, which can access a bank’s infrastructure. It develops paradigms, protocols, secure identity system and the architecture for the next generation of payments. The startup lets app developers to use a simple and secure API for transferring funds and allowing banks issue the cryptocurrency.
Plug and Play FinTech platform helps early stage startups and entrepreneurs to develop and launch their ideas by offering mentorship, acceleration and financial assistance. The global network of advisors and mentors helps participants to prepare their products before bringing them to the market. The incubator accepts applications from startups within the banking, payments, authentication and security sectors.
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