Core to Name Most Disruptive Financial Service for Emerging Middle
Class at EMERGE Forum
Blossom improves the experience for investing, managing, and cashing
out of digital currencies like Bitcoin. Blossom's Bitcoin by Mobile
service allows people interested in digital currency to buy Bitcoin in
seconds, without entering any personal financial details, by charging
the purchase to their mobile phone bill.
Dealstruck is the only peer-to-peer lending platform for
small-to-midsize businesses that offers asset-based term loans and
working capital lines of credit, often at a lower interest rate than
competitors. The company leverages flexible underwriting features to
help borrowers reach funding goals quickly and easily, as well as
allowing investors the freedom to choose specific investments.
Entrepreneurial Finance Lab (EFL) applies psychometrics to credit
scoring in emerging markets. Unlike other credit innovations that
leverage non-traditional data sources like social networks and call
detail records, EFL's methodology requires only an introductory
reading level, not a computer or a mobile phone. Today EFL operates
across Latin America, Africa, and South Asia.
Moneyworks helps consumers deal with debt and optimize their overall
financial health by managing money on their behalf. The product
automatically pays all of a user’s bills and debts, so that the user
can focus on controlling discretionary spending. The product is
distributed through channel partners engaging financially distressed
users including Credit Counselors, Employee Assistance Programs, and
Student Debt organizations.
LOS ANGELES--(BUSINESS WIRE)--
Innovation Capital (Core) today introduced the four finalists for
the fourth annual Core Innovators Challenge, the nation’s largest and
most prestigious competition for technologies serving the Emerging
Middle Class. These entrepreneurs will compete to be named the most
promising new idea for this market at EMERGE:
The Forum on Consumer Financial Services Innovation hosted by the
Center for Financial Services Innovation (CFSI) and SourceMedia in Los
Angeles, June 4-6, 2014.
Finalists were selected from a diverse group of applications, and will
compete in a live demo format for $10,000 in prize money before an
audience of hundreds of financial services industry executives,
investors, and practitioners that will vote for the best new innovation.
“Core is committed to finding and funding the innovators building
successful, scalable solutions that meet the financial needs of the
Emerging Middle Class,” said Arjan SchÜtte, founder and managing partner
of Core. “The Innovators Challenge is a unique way to actively uncover
the most compelling of these new ideas and then introduce them to the
leaders of the financial services community. We are excited about the
quality of this year’s class and look forward to the competition.”
The fourth annual Core Innovators Challenge finalists are:
The 80 million underserved Americans that earn more than one trillion
dollars in annual income make up the Emerging Middle Class. Core is an
Impact Alignment venture fund investing in entrepreneurs that serve the
Emerging Middle Class by applying free-market solutions to the world’s
most demanding social challenges.
To learn more about or attend EMERGE for the Core Innovators Challenge
sponsored by Mastercard, please visit: http://www.americanbanker.com/conferences/cfsi/.
For more information about Core, please visit: http://www.corevc.com.
About EMERGE: The Forum on Consumer Financial Services Innovation:
EMERGE brings together over 700 leaders and innovators transforming the
financial services industry—bank and credit union executives, federal
and state policymakers, technology entrepreneurs, nonprofit providers,
consumer advocates, retailers, and investors. Through case studies,
interactive sessions, and tracks organized around specific consumer
behaviors, the EMERGE agenda brings consumer data and stories to
life. With a proven history of building new connections and spotlighting
the most innovative trends, attendees get the latest information and the
cutting-edge strategies they need to build profitable solutions that
actively contribute to the financial health of consumers. To register,
visit http://www.americanbanker.com/conferences/cfsi/ and
join the conversation at #EMERGECFSI.
About Core Innovation Capital:
Core Innovation Capital is a leading investor in financial technologies
serving the Emerging Middle Class, the 80 million Americans that
generate over $1 trillion in annual income and spend more than $89
billion in fees and interest on financial services. Core partners with
proven entrepreneurs and invests in disruptive financial technologies
that measurably improve the lives of the Emerging Middle Class. The Core
Impact Alignment investment thesis leverages social impact to create
above-market financial return. For more information about Core
Innovation Capital, visit www.corevc.com or
Source: Core Innovation Capital