Startup Wise Guys (SWG), the renowned European B2B startup accelerator and early-stage investor launches a new accelerator in Romania together with the European Bank for Reconstruction and Development (EBRD) and TaiwanBusiness, the Technical Cooperation Fund of EBRD. The program is fintech-focused and will allow up to ten selected startups to receive a €90K pre-seed investment with the opportunity for a follow-on. The Startup Wise Guys Fintech program in Bucharest will start on July 11, 2022.
The goal of the new accelerator is to broaden innovations in financial verticals such as proptech, insurtech, analytics, regtech and cybersecurity. By entering Romania, Startup Wise Guys continues its focus on impact investing in emerging markets, EBRD builds on its mission of supporting new development in CEE. The 5-month program will be shaped in a hybrid format with online and offline modules, while the selected startups will be mentored by the SWG team, fintech experts, and EBRD staff. Interested startups can apply before June 9, 2022.
“Having invested in close to 50 fintech startups, we have witnessed amazing talent from the region and the impact these startups can make to the digital economy. We chose Romania for our fifth fintech program because it is a country we believe is poised for hypergrowth in the startup space in the coming decade. We are doing this in a new partnership with EBRD after a successful collaboration in the last fintech program in Vilnius, Lithuania,” Cristobal Alonso, Global CEO at Startup Wise Guys, highlights in the press release.
Is the Startup Wise Guys Fintech program for me?
All the programs of Startup Wise Guys, including the Romanian fintech program, are meant for B2B startups. On some occasions, B2B2C companies are also accepted, but purely customer-oriented startups would not be considered. In addition, to be eligible, the startups need to have a working MVP, at least 2 co-founders, and some form of initial customer traction, or revenue metrics.
The program does not have any geographical focus but currently does not accept applications from Russia and Belarus-based companies. In addition, teams who haven’t established their companies yet would be considered but will be required to establish a company if they get selected for the program. All participants are expected to make a full-time commitment.
Participating teams will be supported in four main focus areas: Company building, Sales and marketing, Fundraising and Pitching, and Product building. They will engage in an intensive collaboration with almost 100 mentors at workshops, one-on-one sessions, and sprint weeks. Founders will also have a dedicated time for implementation throughout the program and will be supported with a €90K convertible investment (65K cash + 25K program) with a €250K follow-on possibility.
The team behind Startup Wise Guys Fintech
The program in Bucharest will be run by the Spanish insurtech expert Juan Alonso-Villalobos and the Romanian startup founder and business development expert Razvan Suta. They will be supported by several fintech entrepreneurs-in-residence, including the serial investor and founder Omer Unsal and the Latvian fintech expert Jevgenijs Kazanins. Moreover, the startups will be supported by SWG’s network of over 250 mentors, among which Johan Lorenzen, Former CEO of Holvi, Mārcis Goģis, Head of Product at Mintos, and Remco Veenenberg Founder of Budapest AI.