Payments Sector Dominates SixThirty's Fall 2015 Fintech Accelerator Class

Beyond just financial and technology centers like London, New York, Singapore and Silicon Valley, many cities and regions are seeing the potential in the fintech sector and opening up initiatives to support fintech startups. Among them include SixThirty, a St. Louis based fintech accelerator that provides support and investment to late seed stage fintech startups.

Announcing their Fall 2015 Cohort, SixThirty has accepted six firms into the program. Startups include Brigade Society, Ensygnia, Fluent, Investment POD, Rippleshot and Bandura. Interestingly, among the startups, only Investment POD, which provides services to the wealth management sector, would be considered a natural fit for St. Louis’s strong focus on asset management firms.

Overall, the six firms have a strong focus in the payment sector. Businesses covered by the startups include point sale technology for merchants, mobile Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term ledgers, and credit card fraud analysis and prevention. As part of their participation, firms receive $100,000 in equity based funding from SixThirty.

Atul Kamra, Managing Partner at SixThirty, commented on the startups: “A record number of companies applied to participate in SixThirty’s Fall 2015 Cohort. The application pool was truly global and, of the over 150 startups that applied, a third were from outside the U.S.”

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