SANTA CLARA, Calif.,
Aug. 10, 2017 /PRNewswire/--
Silicon Valley Bank, the bank of the world's most innovative
companies and their investors, and First Data (NYSE: FDC), a global
leader in commerce-enabling technology, have selected four startups
to participate in Class 6 of Commerce.Innovated., an accelerator
designed to help commerce, payments, and fintech companies grow
their businesses. The four-month virtual program provides
participants with operational mentorship from Silicon Valley Bank,
First Data, and their respective networks.
The four companies selected to participate in the current class
come from across the U.S. and provide a variety of solutions for
businesses and consumers:
- Apostrophe: A healthcare savings-as-a-service startup for
self-insured employers based in Denver
- Blueprint Registry: A peer-to-peer gifting and life event
fundraising platform based in Seattle
- Finix: A payment infrastructure platform enabling real-time
push-to-card disbursements based in San
Francisco
- Headnote: A transaction network for the legal industry based in
San Francisco
"As the category of fintech expands, Commerce.Innovated.
continues to attract various companies that are bringing
differentiated models to market," said Reetika Grewal, Head of
Silicon Valley Bank's Payments Strategy and Solutions Group. "I'm
always impressed by the passion and caliber of the entrepreneurs we
see through the program. We're excited to work closely with Class 6
to support the participants' impressive business
goals."
"At First Data, innovation is at the heart of everything we do.
It's exciting to see the disruptive technology these startups are
working to bring to market, especially when you consider how they
could be shaping the daily consumer experience for the future,"
said Christine Larsen, Executive
Vice President, Chief Operations Officer, First Data. "I'm
delighted to see Class 6 take shape and look forward to watching
their growth as they move through the Commerce.Innovated.
program."
Commerce.Innovated. launched in 2014 and has worked with 24
commerce, payments and fintech-focused startups to date, including
Alloy, AppZen, Apruve, CardFlight, Dash, Domuso, Earny, Float,
Footmarks, Gone, LaunchKey, LiveApp, Local Maven, Nowsta, Pay By
Group, PennyOwl, Slide, SmartGift, SnapUp, Spend Labs,
Splitwise, Standard Treasury, Truebill, and Qwil. Since graduating
from the program, more than half of the companies in the program
have raised funding or been acquired.
Full program details are available
at www.commerceinnovated.com.
About Silicon Valley Bank
For more than 30 years,
Silicon Valley Bank (SVB) has helped innovative companies and their
investors move bold ideas forward, fast. SVB provides targeted
financial services and expertise through its offices in innovation
centers around the world. With commercial, international and
private banking services, SVB helps address the unique needs of
innovators. Learn more at svb.com.
©2017 SVB Financial Group. All rights reserved. SVB, SVB
FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the
chevron device are trademarks of SVB Financial Group, used under
license. Silicon Valley Bank is a member of the FDIC and the
Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial
Group (Nasdaq: SIVB).
About First Data
First Data (NYSE: FDC) is a global
leader in commerce-enabling technology, serving approximately six
million business locations and 4,000 financial institutions in more
than 100 countries around the world. The company's 24,000
owner-associates are dedicated to helping companies, from start-ups
to the world's largest corporations, conduct commerce every day by
securing and processing more than 2,800 transactions per second and
$2.2 trillion per year.
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SOURCE Silicon Valley Bank