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Ping An Fin + Tech Accelerator Powered by SparkLabs Launches First Batch

A Collaboration Between Ping An Group, SparkLabs Group, and the Futian District Government

Ping An Fin+Tech Accelerator powered by SparkLabs launched its first batch. The program is a collaboration between Ping An Group and SparkLabs Group (http://www.sparklabsgroup.com) under Futian District government’s full support. Ten companies were selected out of over 120 applicants from around the world with applicants ranging from seed stage to Series B companies.

Ping An has invested over US$7.5 billion in FinTech, healthcare, artificial intelligence industries in the past decade; developed over 200 projects in the following areas: financial service, transportation, accommodation and government service with AI capability. With the support of Ping An Group and Ping An Cloud ecosystem, Ping An Fin+Tech Accelerator is focused on finding and partnering with innovative finance plus technology companies from around the globe to drive the technology revolution.

William Chu
William Chu

“We are excited to be partnering with Ping An, and to be working with such a strong group of companies. The average capital raise for the ten companies prior to joining this first batch was US$3.2 million, and more importantly it’s a great group of founders. We designed the program for the innovative companies to fully leverage the resources from Ping An Group and SparkLabs right from the start, and we expect strong traction for every cohort,” stated William Chu, Managing Partner with SparkLabs FinTech.

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The ten companies are as followed:

Funding Xchange
FXE is seizing the power of data made available through open banking, cloud accounting and other sources to enable “one-click” funding applications to banks, alternative lenders and specialist financing providers. Using a cloud-based automated decisioning platform that accesses live transactional data sources, FXE enables the digitalisation and automatic underwriting of funding applications – allowing funders’ to reduce their costs of customer acquisition by up to 70% and accelerating speed of serving small businesses.

Canopy Cloud
Getting a complete and accurate view of a high net-worth individual’s whole wealth is a persistent challenge to the individuals and their wealth managers due to the sheer complexity of their assets diversely held in multiple private banks and beyond. Canopy is a platform that aggregates all assets and provides visualization, reporting, analysis and client communication.

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Velotrade
Velotrade is an online marketplace where SMEs get funding by selling their invoices to investors who earn above market returns with attractive risk/return profiles. All invoices are insured by a leading international insurance company and with the help of a number of partners we offer bank-grade security throughout the KYC and validation procedures.

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The CareVoice
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