MassChallenge FinTech Announces 2021 Cohort 

Boston, MA (December 17, 2020) – MassChallenge FinTech (MCFT) today announced the 30 startups that will join the 2021 cohort. MassChallenge FinTech invites the community to meet the 2021 startups at MassChallenge Verticals Opening Night, a virtual introduction to MassChallenge’s digital health and financial technology cohorts on January 13, 2021. 

“This has been our most competitive and diverse applicant pool to date,” said Devon Sherman, Managing Director of MassChallenge FinTech. “We’re excited by the range of solutions and perspectives this year’s cohort brings – in our experience, this diversity of backgrounds and ideas is what drives true innovation.”

MassChallenge FinTech accelerates outcomes-driven partnerships between startups and enterprises to fuel innovation. From January to June, startups will work 1:1 with one or more partners to tackle specific challenges facing the financial services industry, from alternative data and risk management to small business solutions. MassChallenge’s model facilitates these partnerships to produce meaningful results, all the while helping fintech startups become more enterprise-ready and enterprises become more startup-ready.

“This year‘s MassChallenge program was instrumental in helping us find companies with whom to partner in solving important business issues,” said Jason Guenther, Head of Investment & Operations Technologies at Putnam Investments. “Our partnership with MassChallenge has accelerated our digital journey and enabled us to think differently about how to leverage technology to improve business outcomes.”

The program is supported by a public-private partnership that includes founding partners Massachusetts Mutual Life Insurance Company (MassMutual), Putnam Investments, Fidelity Investments, Citizens Bank, John Hancock, and the Massachusetts Competitive Partnership (MACP); challenge partners AARP, Columbia Threadneedle Investments, City of Boston, Boston Private, KPMG, and BayCoast Bank; gold partners Radius Bank, Commonwealth, Goodwin Procter, and SEI Ventures; and innovation support partners FinTech Sandbox, Brandeis International Business School, Wells Fargo Startup Accelerator, and the Financial Revolutionist. 

MassChallenge FinTech is excited to welcome its latest challenge partner and first community bank partner, BayCoast Bank, which has served the people and businesses of southeastern Massachusetts and Rhode Island since its charter in 1851.

“BayCoast Bank is proud to be partnering with MassChallenge and continuing our commitment to product offerings in the fintech space,” said Dan DeCosta, Senior Vice President & Chief Information Officer. “By leveraging expertise and start-up relationships fostered through the MassChallenge FinTech program, we have the unique opportunity to collaborate with many different fintech providers. The insight gained through this partnership will help the bank adapt to changing technologies in our industry, and in a way that aligns with our core philosophies.”

This year, MassChallenge FinTech’s 10 Challenge partners extended 36 offers to 30 startups from 4 different countries and 11 U.S. states. To date, MassChallenge FinTech has been a key player in the burgeoning Boston fintech ecosystem, serving as a connector and champion for fintech startups from around the world. The program has facilitated more than 150 engagements between startups and enterprises since 2018 and remains committed to advancing fintech through collaboration.

“At MCFT, we believe in the power of partnership,” said Sherman. “Our program seeks to create opportunities for collaboration not only between startups and corporates, but also between startups themselves and across various industries. The ubiquity of fintech necessitates it, and the potential for impact is huge.”


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HomeZada (California)

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MassChallenge FinTech Founding Partners 

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

MassChallenge FinTech Advisory Board

Mike Fanning, MassMutual; Mohammed Dastigir, MassMutual; Sumedh Mehta, Putnam Investments; Sean Belka, Fidelity Investments; Tatyana Zakrevskaya, John Hancock; Peter DeFrancesco, John Hancock; Lamont Young, Citizens Bank; Sarah Biller, Vantage Ventures.

About MassChallenge 

MassChallenge is the global network for innovators. Headquartered in the United States with seven locations worldwide, MassChallenge equips bold entrepreneurs to disrupt the status quo and to create meaningful change. Since launching in 2009, more than 2,400 MassChallenge alumni have raised more than $6.2B in funding, generated more than $3B in revenue, and created more than 157,000 total jobs. Learn more about MassChallenge at