A former Visa executive is launching an AI-based platform designed to help fintech startups build commercial partnerships with retailers, financial institutions and investors.
Initially focusing on the UK, Findr is attempting to help the majority of fintech startups that fail in their first year because they run out of funding before they can finalise the commercial partnerships they need to survive and thrive.
Founded by the former head of market acceleration and partnerships for Visa Europe, Greg Watts, the matchmaking platform uses AI to help fintechs identify, assess and connect with prospective partners in minutes or hours with just a few clicks.
With the Covid-19 pandemic still raging, Findr argues that it is entering the market at an opportune time because its virtual partnership approach eliminates the requirement for face-to-face interactions.
After signing up, users create a profile with information about their company and the type of partnerships they are looking for. Then, they gain access to a rich, single view of prospective partner profiles and are ‘matched’ if there is common interest or appetite based on specified criteria. Findr users will pay a monthly fee and a fee for each accepted match.
The platform is fuelled by data from Crunchbase - with which Findr has signed a strategic partnership. Over time, profiles will be supplemented with data from additional partners as well as Companies House and The Office for National Statistics.
Several fintechs, retailers, financial institutions and investors are already signed up to begin testing the platform this summer, while Findr says it is seeking its own funding, to the tune of £300,000.
Says Watts: “The industry’s response to Findr has been swift and enthusiastic. The common thread is that we’re fulfilling a vital need. While other organisations provide data insights on potential partners, none deliver a matchmaking capability that significantly reduces the time it takes to sign an agreement and go to market.”