FinTech
06 April 2020

How the MassChallenge FinTech Community Is Responding to COVID-19

Written by Luke Lennon

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MassChallenge itself was founded during a time of uncertainty in the global recession of 2008. By working together, investing in entrepreneurs, and continuing to evolve our innovation ecosystems, we can build a stronger future for all.

In our current moment, we are working quickly to connect innovators with the organizations and networks that can help us limit the impact of COVID-19. And we wanted to share what the MassChallenge FinTech community is doing to step up!

Note: This list is ongoing, with many members of the MCFT community doing their part during this time of crisis. 

MCFT19 Alumni

  • AlphaSense launched a Coronavirus Impact Tracker
  • Cake is facilitating end-of-life planning free of charge
  • Catapult has curated a COVID-19 RFI alongside Google and Principal Financial Group to help companies identify internal vendor preparation procedures
  • Fincura is currently offering free access to commercial lenders to help them support more businesses
  • LifeSite is offering LifeSite Plus to all customers through September 2020
  • Pinkaloo is providing workplace giving options to help employees support their communities
  • SizeUp has released a white paper on solutions to help save local businesses and workers

MCFT20 Cohort

  • Boss Insights is offering free lead qualification services for lenders to support SMBs and commercial businesses
  • Cognicor is providing their Smart Bot chatbot solution free of charge through June
  • Stratyfy is offering free 1-month access to help customers understand behavior and risk in crisis
  • Summer is offering free access to tools to help students reduce loan payments
  • Trust & Will is providing online estate planning to medical professionals free of charge

MCFT Partners

  • AARP launched AARP Community Connections to help people support each other through mutual aid
  • Citizens Bank committed $5M to support communities impacted by COVID-19
  • Commonwealth has shared savings and financial security data in light of COVID-19's economic impact
  • Eastern Bank committed $10M to offset COVID-19 impact for individuals and small businesses. Additionally, teaming with Pinkaloo, Governor Charlie Baker, and MA First Lady Lauren Baker, Eastern Bank launched the Massachusetts COVID-19 Relief Fund: https://www.macovid19relieffund.org/
  • John Hancock donated $1M to the Boston Resiliency Fund
  • MassMutual committed $1M to COVID-19 efforts in Western Massachusetts
  • Walmart and the Walmart Foundation committed $25M to organizations on the front lines

We will continue to work with our community to support each other during this time. Together, we will come out stronger than before. If you are an innovator working on relevant solutions to COVID-19, let us know here.

 

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Mission

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