FinTech
25 June 2019

MassChallenge FinTech Announces $200K to Top Startups in Inaugural Program

June 25, 2019 (Boston, MA) - MassChallenge, a global network of zero-equity startup accelerators, tonight awarded $200,000 in cash prizes to the top three FinTech startups from the inaugural cohort of MassChallenge FinTech.

This year's winners include:

$100K DIAMOND WINNER

Diffeo

Diffeo is an AI-powered research assistant that uncovers relationships in disparate data and recommends the best insights next to your work.

$60K PLATINUM WINNER

Surround Insurance

Surround builds technology-powered insurance to protect modern consumers in an uncertain world.

$40K GOLD WINNER

Posh

Posh is a conversational AI platform company out of MIT. Posh powers humanlike bots to automate routine enterprise communications tasks.

The top three startups were selected based on their ability to achieve program goals with their corporate partners, as well as their overall impact and growth. Over the course of the six-month program, 21 enterprise-ready FinTech startups were matched with industry leaders to tackle major challenges in financial services. MassChallenge FinTech has facilitated over 30 impactful FinTech-enterprise partnerships in its first year, with most of the partnerships continuing well beyond the program.

“We are extremely proud of the meaningful partnerships our startups and enterprises have created in our inaugural program,” said Devon Sherman, Program Director of MassChallenge FinTech. “Our startups and partners are moving beyond the infamous pilot purgatory that often kills startup-corporate collaboration and achieving real results in a short amount of time, which really speaks to the power of intentional collaboration.”

The prize winners were announced during the inaugural MassChallenge FinTech Finale, which brought together more than 300 executives, investors, entrepreneurs, and community members from the FinTech ecosystem. Featured speakers included Mike Kennealy, Secretary of Housing and Economic Development for the Commonwealth of Massachusetts; John Barros, Chief of Economic Development for the City of Boston; and Jennifer Lum, Co-Founder of Forge.AI, an entity intelligence company that creates fuel for intelligent machines.

The 2020 MassChallenge FinTech program will kick off during Boston FinTech Week in September 2019. To learn more about upcoming opportunities to partner or engage with MassChallenge FinTech, please visit: https://masschallenge.org/programs-fintech.

MassChallenge FinTech Founding Partners

Massachusetts Mutual Life Insurance Company (MassMutual), Fidelity Investments, Putnam Investments, John Hancock, Citizens Bank, and Massachusetts Competitive Partnership (MACP)

MassChallenge FinTech Challenge Partners

Eastern Bank, AARP, Columbia Threadneedle Investments, Massachusetts Bay Transportation Authority (MBTA), and Walmart

MassChallenge FinTech Additional Strategic Partners

FinTech Sandbox, Wells Fargo Startup Accelerator, Brandeis International Business School, Radius Bank, and The Financial Revolutionist

About MassChallenge 

MassChallenge is a global network of zero-equity startup accelerators. Headquartered in the United States with locations in Boston, Israel, Mexico, Rhode Island, Switzerland, and Texas, MassChallenge is committed to strengthening the global innovation ecosystem by supporting high-potential startups across all industries, from anywhere in the world. To date, more than 2,300 MassChallenge alumni have raised more than $5 billion in funding, generated more than $2.7 billion in revenue, and created more than 136,000 total jobs. Learn more about MassChallenge at masschallenge.org.

Mission

MassChallenge strengthens the global innovation ecosystem by accelerating high-potential startups across all industries, from anywhere in the world.