Startups are the latest fad that has taken over the technology industry. They have provided an opportunity to young, aspiring, and talented entrepreneurs everywhere From various segments, financial technology has emerged as a field with numerous and promising potential. For those who are unfamiliar, fintech (or financial technology) refers to anything that deals with and improves how people transact business financially, the best example being digital money. Several startups are merging technology with finance, and finding solutions to some of the every day issues we face. Fintech startups have not only been able to solve common issues, they have also solved several problems for other startups. Let's find out some of the best fintech startups that have emerged recently.
Curve: Keeping All Your Accounts In One Place
Founded and started in London, Curve is a fintech startup created by Shachar Bialick who is also the CEO of this company. It is a platform that allows you to sync all your financial accounts into a single card which you can use however you want to like buying new clothes or paying for groceries. Initially, the Curve card had been available to 100,000 beta users but since their launch, they have added 50,00 more to their user base. Oftentimes, we use a card and realize later that it might not be the right one for the purchase or it might not have enough money or have reached its limit, but with a Curve card, you can actually change the card of purchase within fourteen days. Plus, you can earn 1% instant cashback from selected retailers when you use your Curve card, though it is merely an introductory offer and depends on the type of card that you have availed.
B2B Pay: Receiving Money Without Losing On Conversion And Fees
B2B Pay is a great solution for companies that receive payment from abroad. Most of the time, these companies lose a part of their money to platforms that charge 20% for currency conversion and fees. B2B Pay aims to stop this and make payment between two businesses a lot easier. There are tons of other advantages as well. For example, with B2B Pay, a company can have its own non-resident bank account in Europe, receive money from EU countries within hours, saves 35 euros SWIFT fee, and more!
Lendr: Lending a Hand for your Loaning Needs
So far, home buyers have to go through a lengthy process that involves lenders and borrowers, online information services, digital identity or even professional advice. Lendr works as a one stop shop for all your borrowing issues. If you need a loan, you will just have to go to Lendr, select the kind of loan you need, create an account, and wait for your loan to get approved. Once approved, the user can manage everything through their account. The UK lending market is already excited about Lendr and 35% of it is already working with them.
DOV-E: Using Audio To Transmit Data
Dov-E uses audio to enable wireless payment between two devices. CEO and founder Yehuda Yehudai says that the changes that globalization has brought about should be adapted by banks, too. These changes are slowly removing the lines between borders, services, and organizations. Yehuda also adds that making complex technologies easy to use is trending now. Dov-E has patented technology that makes mobile payment quick and easy. This startup was a finalist in the BBVA Open Talent 2017.
Finimize: Getting Your Finances On Track
Finimize started off as an online financial community with 100,000 members who were willing to learn more about finances. The community was born when founder Max Rofagha realized that millennials want to learn more about how to sort their finances, but they do not know yet. Finimize started sending its members a newsletter every day that has news from the financial world. It has also launched a Finimize My Life - a platform that will help users create a customized financial plan in less than three minutes. The best part is that registration is free!
If you are a startup owner or an individual looking for financial solutions, some of these startups might help. Businesses are always striving to find innovative solutions to their problems. Upcoming startups can provide that, and the great thing is that most of them are free!
