VIDEO: Payment Processor Paygel Wins First Dutch Hackathon

  • Philip Ryan
  • July 8, 2014
  • 1

PayGelThe payments startup Paygel has won the first Dutch FinTech hackathon, it was announced yesterday. The hackathon, hosted by the Dutch bank Rabobank as well as the startup accelerator UtrechtInc, invited 15 teams to “develop a technical solution for next generation financing” in just 48 hours.

After what we presume was two days of heavy caffeine consumption, the award went to Paygel, which developed a service that provides for “easy, fast and safe” online payments. The app stores a user’s payment credentials for quick retrieval and payment online and on mobile devices. The team won €5,000 and the right to participate in UtrechtInc’s accelerator program.

The people’s choice award went to Fritz, which built a solution to let parents approve children’s online purchases and payments. A special award went to, which allows users to create configurable “bundles” of charities to support automatically each month.

All the teams used APIs from the OpenBank Project, PostNL, OAuth,io, LiquiDYodlee, MyOrder and PayPal.

The five-person panel of judges was Nektarios Liolios, managing director of Startupbootcamp FinTech; Annemarie van de Berg, chairperson of the board of directors of Rabobank Utrecht; Richard Straver, serial FinTech entrepreneur; Tony Bosman, trendwatcher; and Allard Luchsinger, director of Velocity Capital.

Video from the event is below.

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Philip Ryan is Senior Editor of Bank Innovation and Senior Director of INV Fintech. He began covering financial services in 2012 and has more than 15 years' experience in online journalism. He can be reached at

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