Y Combinator Brings the Fintech In Day 2

  • Philip Ryan
  • August 24, 2016
  • 2

© Can Stock Photo Inc. / adogslifephotoY Combinator President Sam Altman knows fintech — he helped Green Dot build GoBank, after all. So when only two fintech startups made it to the stage yesterday at Day 1 of its Summer Demo Day(s) 2016, we took notice.

But today 10 of the 48 demoing companies are fintech-focused, making 12 of the 92 presenting companies from both days — 13% — fintech. This is consistent with past classes — the Winter class had around 10%, for example, and the Summer 2015 class also had 13%.

Here they are:

Flutterwave offers an API to facilitate payments across Africa. Flutterwave’s system connects to 100 million cards, 135 million bank accounts, and 80 million mobile wallets.

Fellow is another API-driven service. It uses business’s invoices to underwrite and provide working capital.

Meesho is an e-commerce platform for social media in India. E-commerce is a large and growing segment in India. Meesho connects to banks, payments cards and mobile wallets to simplify checkout.

Legalist taps into what TechCrunch calls the hottest new asset class — litigation. Your lawsuit may qualify for financing. Good luck, and sorry.

OneChronos is a new kind of financial exchange that aims to make trading cheaper and better. How? Algorithms. It will also let customers write code and run it in the exchange. Ok, that’s cool.

SmartPath offers financial advice to families. Wealthy families have help already, and traditional PFM has focused on the individual with simple finances who doesn’t need it. SmartPath wants to grab the families that fall in between those two.

Selfycart is a mobile app for self-checkout. Sure, lots of online shopping carts exist – but this is for real stores. Skip the point of sale with Selfycart, at participating stores, of course, rather than just anywhere.

LendSnap knows that having a home is great but getting one sucks. LendSnap digitizes the process to take the pain (i.e. faxes) out of it.

Nova Credit provides credit reports for global borrowers. Why? Because many new arrivals in the U.S. find credit to be extremely difficult if not impossible to obtain because the system relies on domestic credit indicators.

Sway automates bookkeeping to save businesses, and the humans who run, them headaches and money. Sway connects to digital payment rails to keep the funds flowing. The job “bookkeeper” won’t exist in ten year, Sway says.

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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, which makes him quite old. He can be reached at pryan@royalmedia.com.

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