The companies will spend three months of mentorship, “structured deal review, pilots, investments, and even acquisitions” with Plug and Play Fintech’s “ecosystem” of corporate partners. Companies are chosen by members of the Plug and Play venture team, as well as VC and corporate judges. The 23 startups will pitch their technologies to investors and industry professionals at Plug and Play’s EXPO in May.
Scott Robinson, founder and director of Plug and Play FinTech, pointed to its new corporate sponsors as a key to the program’s continued success. “This unprecedented level of support will result in new levels of innovation from our startups.”
See a list of all 23 companies.
DoubleNet Pay helps people better manage their finances by focusing on cash flow, or what the company calls “the problem of having ‘too much month’ at the end of the money.” The company’s technology tracks expenses and due dates, and schedules payments around payday cycles so that users know exactly how much discretionary spending they really have. Founded in 2013 and headquartered in Atlanta, Georgia, DoubleNet Pay was highlighted in Human Resource Executive Online last fall in a look at workplace wellness. The company, led by co-founders Brian Cosgray and Cody Laird, demonstrated its platform at FinovateSpring 2015. Check out our Finovate Debut feature from last August.
Token also made its Finovate debut at FinovateSpring 2015 (read our debut profile of Token), and followed up with an appearance at FinDEVr 2015 in San Francisco later in the year. The company offers an end-to-end, secure payment system that uses digital signatures to authorize transactions instead of both “shared secrets” like passwords and account numbers, as well as traditional tokenization. Launched in 2015, Token was a winner at Innotribe 2015 New York last summer (along with fellow alums, SizeUp and Pendo Systems), and was a finalist in the BBVA Open Talent competition in August. The company is based in Palo Alto, California.
Update: An earlier version stated the duration of the program at three weeks.