INV Fintech, Bank Innovation’s sister accelerator, announced today the three associate members of its sixth cohort of startups.
INV associates undergo a less intensive program than full class members. They do not have regularly scheduled meetings with the INV team and Fiserv, the accelerator’s technology partner. They have access to INV’s mentor network and the wider ecosystem connected to the program. The three associates joining Class 6 today are:
- Lenmo is an intuitive mobile app that allows borrowers to request a small loan — up to $5,000. Investors then bid on borrower loans in Lenmo’s free market. Borrowers will get loans with lower interest rates and investors will get a better return on their investments.
- Odin Money is an alternative financial services company looking to disrupt the existing $300-billion alternative financial services market in the U.S., which primarily caters to the low-income and underbanked consumer.
- Odin aims to provide “prime-like” services to these consumers, all for an accessible, fair, and reasonable fee.
- Ivy Lender provides payment processing and small-business lending to clients in the U.S. and Canada. Ivy has its own in-house CRM that pre-underwrites lending deals by using decision logic & Experian credit pulling. Loans can run up to $75 million.
The associates were selected from the applicant pool for Class 6. They join the six companies already a part of INV’s 6th class.
INV is a global, virtual accelerator, which allows INV to host companies from not just Silicon Valley, but the entire world. The startups will be mentored by INV and its partners, which include Fiserv and U.S. Bank. INV startups also demo at members-only events held in conjunction with Bank Innovation. In 2019, there will be two of these events, one in Seattle and the other in Atlanta.