FinovateSpring 2015 Best of Show winner Alpha Payments Cloud is one of two early-stage payments companies that Wells Fargo chose to participate in the spring 2016 class of its semi-annual startup accelerator.
During the six-month program, the Singapore-based startup receives an investment ranging from $50,000 to $500,000 and mentorship to help refine its AlphaHub solution that lets banks, merchants, and payment service providers access any payment type or solution provider via a set of APIs. Additionally, the accelerator will help test AlphaHub and guide them through the process of bringing it to market. While the amount of the investment Alpha Payments Cloud received is undisclosed, the company’s valuation stands at $100 million.
About Alpha Payments Cloud’s participation, CEO Oliver Rajic says, “Working with Wells Fargo allows us to learn from one of the world’s most significant and experienced banks and managed service providers (MSPs) and draw upon its deep knowledge pool to continue to evolve our solution and stay ahead of the game.”
EyeVerify, a FinovateEurope 2016 Best of Show winner, is a Wells Fargo Accelerator success story. The Kansas City-based company is a graduate of Wells Fargo Accelerator’s inaugural class of 2014. Earlier this year, the banking giant announced it will deploy EyeVerify’s biometric authentication technology to corporate clients with commercial bank accounts.
Alpha Payments Cloud most recently took the stage at FinovateEurope 2016 in London where it demonstrated how banks, merchants and payment service providers can access more than 250 third-party solutions with the AlphaHub API. In February, the company partnered with Sentenial’s Nuapay to add SEPA Direct Debit functionality to the AlphaHub solutions library.