A pair of Canada-based Finovate alums – coconut software and Paytik – Participated in the first cohort of the UK Fintech CTA program. The program lasts eight weeks, mostly online, and includes needs assessment and company analysis, participation in the Innovate Finance Global Summit, virtual market briefings, mentor matching and coaching, and strategic business-to-business (B2B). introduction.
In addition to digital sessions, program participants will be invited to local UK events to help businesses build and grow their market presence and network. This allows you to showcase your value proposition to key market players, investors, and potential customers.
Other Canadian startups joining Coconut Software and PayTic include Symend, OneVest, VoPay, Four Eyes Financial, Octav, and Sibli.
“As we expand our efforts in the UK, we are thrilled to have been selected as part of the first cohort of the UK Fintech CTAs, proudly representing the country’s growing payments landscape,” PayTic said on LinkedIn last week. “Canada Technology Accelerator | Accélerateurs technologiques canadiens provides this recognition and opportunity for expansion!”
PayTic, based in Charlottetown, Prince Edward Island, made its Finovate debut at FinovateSpring last year. The company offers a SaaS solution that manages all critical aspects of program management for card issuers and BIN sponsors from a single interface. PayTic’s technology serves as a central hub within the payments ecosystem, allowing users to automate reconciliation, network report generation, dispute submission, fraud detection, network fee analysis, and powerful business intelligence.
At FinovateSpring, PayTic Founder and CEO Imad Boumahdi and Director of Product Kate Firuz said PayTic’s platform analyzes and optimizes network fees for program activity, saving banks, card issuers, BIN sponsors and fintech companies significant amounts of money. We demonstrated how it can help. This technology allows users to instantly reconcile data across the payments ecosystem, from the program and account level to the transaction level. This allows users to identify exceptions in real time, generate accurate reports, and ensure compliance.
Founded in 2020, PayTic has raised $4 million in funding. Visa Accelerator and Outlierz Ventures are among the company’s investors.
Coconut Software, based in Saskatoon, Saskatchewan, more than 4,000 kilometers west via the Trans-Canada Highway (44 hours if you’re driving), is another Finovate graduate who will join PayTic as part of the UK Fintech CTA program. Founded in 2007, Coconut Software provides a customer engagement platform that helps financial institutions better plan, manage and measure customer, prospect and employee interactions.
Coconut Software made its Finovate debut as part of the special all-digital 2021 FinovateSpring conference. At the event, Senior Solutions Engineer Andre Doucette demonstrated enhancements to the company’s appointment scheduling and lobby management technology. These upgrades enhance the platform’s online queue and lobby management capabilities.
Coconut Software, a 2023 Technology Fast 50 company, counts numerous North American financial institutions as customers, including RBC, Arvest Bank, Vancity, and Rogue Credit Union. The company has raised more than $35 million in funding from investors including Klass Capital and Information Venture Partners. Katherine Regnier is the founder and CEO.
Are you interested in attending a FinovateSpring demo in San Francisco in May? We are delighted to read applications from innovative companies with new solutions ready to showcase. To learn more, visit FinovateSpring hub today.
Photo credit: Mukesh Tanna