FinTech
01 June 2021

Breaking into the US FinTech Market: TelosTouch Made Huge Strides with MassChallenge FinTech 

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TelosTouch is the first Augmented Relationships™ platform that elevates client experiences with digital tools to empower financial professionals with easily actionable insights. They are the new standard for financial service providers to communicate, serve and understand clients.

Based out of Toronto, Canada, TelosTouch entered the 2020 MassChallenge FinTech cohort with the aim to expand and adapt their business to US markets. Their time at MassChallenge produced two offers from corporate partners, completion of US regulatory standards, and significant funding and pipeline opportunities. 

“We had tested our company mostly with Canadian businesses for the enterprise sales process, and we were enterprise ready from a Canadian point of view,” said Jad Chehlawi, Founder and CEO of TelosTouch. “We discovered that to expand to the US there were several additional hurdles we needed to jump. MassChallenge made that process much smoother; we were able to work with the enterprise partners which really helped us get ready on that front.”

During their time at the MassChallenge FinTech accelerator, TelosTouch was able to negotiate their first US Master Service Agreement contract and obtained a SOC2 Type 2 Certification. With these achievements, TelosTouch was able to focus on their goals of optimizing their sales process and expanding their pipeline. These goals manifested into two milestones: 

  • A shortened enterprise sales cycle from 1 year to 6 months
  • Completion of 3 enterprise pilot programs (3.8/4 CSAT score) 

“For us, the most valuable component of the program was the relationships that we developed with the corporate partners,” said Chehlawi. “We worked with both Fidelity and Citizens Bank, and also worked very closely with mentors that really helped us finetune our offering and our go-to market strategy. Throughout the whole experience, we felt that the MC team was like a family that supported TelosTouch at each inflection point."

The TelosTouch quick-to-launch tech stack is available as a standalone or as a CRM app. The TelosTouch process delivers KPI-driven use cases with meaningful and measurable impact. Out of the box, TelosTouch comes with a wide portfolio of pre-built and customizable digital experiences.

The work TelosTouch put into their time at the MassChallenge accelerator created substantial progress in their growth and scale.

In the months following their completion of the 2020 cohort, TelosTouch has:

  • Completed 3 enterprise client agreements in H1 2021
  • Closing a series A of $10M in Q3 2021
  • Completed strategic partnerships with Salesforce and Microsoft 

"TelosTouch's team are former Wealth Managers that fully understand the challenges of the industry. Their fast growth from the Canadian market into the US market has been very impressive. How they used startup accelerators like MassChallenge to aid their transition was very smart and now they're seeing big results." - Charles Beyrouthy, Innovation and Venture Capital Expert. 

The future is big and bright for TelosTouch. In addition to the above accomplishments, Chehlawi and his team have received demand from other geographies and verticals. They were among only 10 other fintech startups selected by the Canadian government backed trade missions to enter the Japanese and Brazilian markets. 

Advice to startups from TelosTouch

From Jad Chehlawi:

Our advice is to learn equally from the setbacks and from the wins. The MC ecosystem is here to help and to allow any startup that is solving a worthy problem to grow. We also recommend developing a strong bond with one or two people in the corporate partner organization. These advocates will challenge you and help you navigate the organization. Last, 6 months pass very fast (even more so as we were in a pandemic that is pushing people’s attention in different places). A good practice is to always define next actions with quick wins to keep the momentum alive. 

Learn more about TelosTouch
 

 

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