FIntech startups hold a lot of value in the financial ecosystem. Entrepreneurs drive innovation, whereas banks seem to struggle with the concept of change. LendIt, a global conference series dedicated to online lending, partnered with Capital One. As a result, both entities will co-host PitchIt @ Lendit, an annual fintech startup competition.
A New Annual Online Lending Startup Competition
More annual Fintech conferences is never a bad thing. Particularly one that focuses on online lending, as it is an emerging industry. Within the online lending sector, there is still plenty of room for innovation and change. During the annual PitchIt @ LendIt conference, eight startups will be eligible to pitch their case.
Every participating startup will receive coaching for their pitch. Presenting a case in front of an expert panel should not be taken lightly. For a lot of startups, there is only one option to make a first impression. The startup that is elected the winner will be mentored by experts through a personalised plan. Capital One Growth Labs will take care of this process.
Capital One Chief Marketing Officer Amy Lenander told the media:
“We’re thrilled to be partnering with PitchIt @Lendit Europe. Our Growth Labs programme has shown us the power that comes from pairing fresh ideas and technology from start-ups with the scale of our customer base and ability to trial those thoughts. I can’t wait to see the ideas and insights in consumer lending from PitchIt and hope that our mentoring will create value for the winner.”
There are specific requirements for participants, Fintechist understands. Startups must have raised less than £4m in funding, which will not be a hurdle for most companies. Moreover, two full-time founders must be registered with the company. Plus, a working prototype focusing on customer interaction is mandatory. Last but not least, the startup must have been established between 2014 and 2016.
Header image courtesy of Shutterstock