5 startups reach the final of FinTech, a track of GenerationS

A DemoDay of the FinTech track was completed in Moscow. The track is part of RVC’s GenerationS, the largest start-up accelerator in Russia and Eastern Europe.  The jury members, representatives of banks and venture funds, selected five best startups in the field of financial technologies which will take part in the GenerationS final and compete for the prize fund worth RUB 16 M.


The track was won by the Alexei Tolstik's team with the MandarinBank project - a payment service for buying services using online installments on favorable terms and with the highest approval rate. The runner-up was Alexei Chalenko with the project 7Seconds - a service for instant loans and installments in online and offline stores. A Ukrainian team led by Cyril Kosolapov came third with the Robin project. The team has developed a voice biometric identification system offering a high accuracy of user verification.

Jury’s special attention was also paid to the project by Sergey Isaev called DataFabric - a system to verify contractors according to customer specific needs which helps create intelligent information systems as well as Ruslan Safarov's project – automated service Fincase, which is a value scoring system that calculates market value of goods, services and transactions.

"We are looking for technologies to be implemented in banks’ operation activities and start-ups that will become part of our innovative ecosystem and offer solutions to be used by the entire group of companies through one structure. I can name three of four very interesting projects for potential contacts and subsequent work," said Mikhail Petrov, a specialist at VTB Bank's Digital Transformation Department.
"I expected to see mostly early-stage projects, i.e. seed and pre-seed projects, but it turned out that almost everyone of them earns money! The current list of projects was a pleasant surprise for me: usually a demo day singles out only 1-2 projects out of 10, but here I have seen as many as 5 promising teams. We will stay in touch with some projects in order to consider investing there in the future, "commented Konstantin Gnyp from Runa Capital Foundation.
"Most of the projects presented have worked out opportunities for cooperation primarily with corporations rather than with venture investors. Projects that will help us come to the understanding, with which we are ready to maintain communication in the future and, if this is of interest for us, ensure due diligence and start the investment process," said Olga Shikhantsova from Target Global Fund.

The face-to-face accelerator of the FinTech track featured 20 projects in the field of financial technologies, services and e-commerce from Moscow, St. Petersburg, Kazan, Samara, Yekaterinburg as well as from Ukraine, Georgia and Kazakhstan. During the competition the participants worked jointly with experts and track supervisors on new business models, conducted comparison competitive studies and worked out financial project plans. During pitch sessions the startups were assessed by representatives from Otkrytiye Bank, Raiffeisenbank, VTB Bank, iTech Capital and Da Vinci Capital investment companies, Target Global venture company, KPMG consulting company, Samara Region Venture Fund and Runa Capital fund


REFERENCE INFORMATION


ABOUT GENERATIONS 

GenerationS - the largest start-up accelerator in Russia and Eastern Europe, the federal platform for the development of  corporate acceleration tools. It has been held by RVC since 2013. More than 20 Russian and international corporations, in whose interests the selection and acceleration of startups is carried out, become every year Industrial partners of GenerationS. As a result of the multi-stage examination, the GenerationS participants receive ample opportunities for business development and investment promotion and get access to resources and infrastructure of accelerator partners. In 2017, 3470 applications from 13 countries were submitted for participation in GenerationS. The prize fund of the GenerationS final in 2018 will amount to RUB 16 million. 
www.generation-startup.ru

ABOUT RVC 

RVC is the Russian government’s fund of funds and the development institute of national venture industry. The RVC’s main objectives are to stimulate the growth of national venture investment industry and to function as a Project Office for the National Technology Initiative (NTI). RVC’s authorized capital amounts to more than RUB 30 bln. RVC’s capital is owned in full by the Russian Federation represented by the Federal Agency for State Property Management (Rosimuschestvo). The total number of funds established by RVC JSC has reached 26 with their total size of 35.5 billion rubles. The share of RVC JSC is 22.6 billion rubles. The number of innovative companies approved for investment by RVC funds reached 218. The total volume of funds approved for investment is 17.9 billion rubles. 
www.rvc.ru

PRESS SERVICE OF GENERATIONS: 

Tel.: +7 (925) 421-25-70 
E-mail: press@generation-startup.ru

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