ST. LOUIS, March 22, 2018 /PRNewswire/ -- SixThirty, a global financial technology (FinTech) venture firm based in St. Louis, today announced that it has reached agreements with, BNY Mellon's Pershing, Detalus, Enterprise Bank & Trust and World Wide Technology to join its roster of premier global financial services and technology partners.
SixThirty invests up to $250,000 (with the potential for follow-on investments) in select late seed-stage B2B FinTech startups that have a working product and are poised for growth. In concert with the investments, SixThirty provides its portfolio companies with an eight-week business development and go-to-market program.
As part of the program, leaders from BNY Mellon's Pershing, Detalus, Enterprise Bank, and World Wide Technology will mentor SixThirty portfolio startups on topics ranging from sales, design, channel partnerships, vendor management due diligence, pricing, and technology, with each serving as a "force multiplier" of exposure. They join a growing group of SixThirty partners including UMB, Reinsurance Group of America (RGA) and State Farm. C-Level executives from these organizations join SixThirty's Investment Committee which evaluates the investment pipeline and selects FinTech startups to invest in.
In partnering with SixThirty, incumbents gain an understanding of emerging technology and business models in the FinTech space, while also having the opportunity to work side-by-side with the selected entrepreneurs for the SixThirty program. By offering mentorship and direction, they help guide SixThirty portfolio companies in their go-to-market strategy.
"We are thrilled to welcome globally recognized financial services leaders to our dynamic and like-minded group of partners at SixThirty," said Atul Kamra, Managing Partner at SixThirty. "As we progress from the era of disruption to the era of collaboration in FinTech, our ability to build an ecosystem that connects startups with established financial services and technology standard-bearers provides entrepreneurs with invaluable and transformative mentorship while allowing our partners to securely experiment with and absorb innovative new technologies."
SixThirty, which has 34 companies in its global portfolio with solutions spanning banking technology, insurance, wealth management, lending, payments, risk, compliance, blockchain, security and fraud, will kickoff its Spring 2018 Business Development Program on April 17, 2018.
SixThirty is a global FinTech venture fund that works with financial technology-based startups and provides them with mentorship and connections to the leading financial services companies in the country. The startups receive up to a $250,000 investment in exchange for a negotiated percentage of equity. SixThirty's portfolio companies receive individualized attention. The commitment of mentors and partners to work in the trenches with founders on their business models and accelerate their commercialization continues to be a differentiator for SixThirty. For more information please visit www.sixthirty.co.
Contact: Netanel Spero, [email protected], 212-279-3115