Closer to scaling their business and getting financial resources from investors! We are talking about six local tech startups in the financial field, which presented their products at Startup Moldova Demo Day, Fintech edition. Previously, companies participated in an acceleration program, where they validated their ideas and benefited from all the resources to consolidate their startup, but also to obtain financial support. The initiative is part of the vertical Fintech 2021 — a program dedicated to tech startups that develop solutions for financial services, launched by Startup Moldova, which is carried out in partnership with MAIB and Mastercard, with the support of USAID and Sweden, within the TEKWILL project.

The newly established fintech business presented its innovative ideas to foreign investors, but also to representatives of financial companies in the country, which are increasingly involved in promoting and developing the industry. All in order to attract financial funds, but also to establish connections with potential customers and community members. The teams that are looking for financial resources to scale their fintech business are:

• PayA — a smart solution that aims to facilitate financial transactions in any corner of the world, fast and cheap;
• AutoPiața — a one-stop shop for buying/selling a car. The platform can calculate the leasing amounts, the annual maintenance of the vehicle, but also other necessary costs for cars;
• MyID — a solution equivalent to the digital passport, which facilitates obtaining different types of documents from state institutions;
• Scoring4business — an efficient scoring system for the B2B market;
• BillHeap — fast processing of invoices, after data entry, with the help of artificial intelligence;
• DOMO — a tax support platform in the real estate industry;

Ana Chirița, Director of Strategic Projects, ATIC: “In the digital age, IT companies are increasingly open to developing technological solutions that facilitate access to services and products in different fields. We are aware that Fintech is an industry with great development potential, and the startups from Demo Day confirm this. We want to obtain financial resources and thus move the business to another stage of development, including abroad. Thanks to the support offered by our partners, MAIB and Mastercard, we have successfully implemented the stages of mentoring, piloting and testing these digital products. ”

Valeriy Kardash, Manager, Business Development, Mastercard Ukraine and Moldova: “It is a pleasure to be part of this atmosphere full of innovation, where ideas and solutions are born that will benefit society. I wish success to the participants who bring new ideas and added value to the financial industry. It is a pleasure to support these initiatives and to share my experience with the new generation of entrepreneurs.”

Giorgi Shagidze, CEO, MAIB: “We see that the visions and development projects regarding the banking sphere are being expanded, digital elements are being added and physical processes are being improved. Along with my team, I can’t wait to see what interesting and special stories and startups the participants have prepared, so that we can go to the next level together, for which I thank them in advance. ”

Investors interested in Fintech startups

Fintech Demo Day gathered investors both from the country and from abroad. Companies interested in getting to know local startups, developers of IT financial solutions, participated in the event, asked questions to get to know better the new companies created, business development prospects, but also plans to improve products and services created.

Levan Kavtaradze, Investment Director, TMT Investments PLC: “TMT Investments is an investment company that, over 10 years, has provided financial support to about 80 companies around the world. Now is the time to increase investments in the Republic of Moldova as well. Therefore, I am delighted to take part in this event and to know the innovative solutions proposed by local entrepreneurs. My team and I will definitely discover interesting startups and we will have a lot to discuss after the presentations.”

Jakub Stracina, investor, KAYA VC: “I want to thank the organizers for this wonderful idea, to bring together talented, creative and persevering people, who will share the most innovative ideas and solutions for the financial field. I appreciate the effort of the participants to prepare captivating presentations and convincing speeches in order to attract the necessary investments. I am participating in such an event for the second time and I am glad to see that the entrepreneurial ecosystem in Moldova is expanding and registering successes and I hope to create partnerships with many of the participants of the event.”

The FinTech 2021 Vertical Program, supported by MAIB and Mastercard, will end in October, with the Fintech Moldova Conference 2021, which will take place, with the participation of experts, startups and all those associated with the financial industry. The event will discuss industry challenges, consumer needs and the potential of fintech solutions to build new business models through which banks, financial services companies and other market players could provide the best services to customers and business partners.