LATVIA – THE NEW HOME FOR GLOBAL FINTECH
FINTECH FACTOR – A THRILLING COMPETITION
Imagine a thrilling competition that resembles the excitement and suspense of a popular talent show, like X-Factor, but is designed exclusively for fintech companies.
At Fintech Factor, early-stage fintech companies get a unique chance to shine. It is a platform with industry experts, investors, and banks eagerly awaiting groundbreaking ideas.
Present your innovation, receive valuable insights, and fine-tune your offering for maximum impact. Compete for incredible prizes, engage with investors, and forge valuable partnerships. Step onto the stage and demonstrate why your fintech solution deserves the spotlight.
WHY TO PARTICIPATE?
This is your opportunity to receive advice and immediate feedback from the fintech regulator on the licensing process and the available regulatory support. You will also receive mentoring and advice from investors and experienced fintech business owners.
Each participant is also competing to get on the main stage to pitch their innovative idea in front of the Fintech Forum audience and get valuable prizes. The rewards for the two best Fintech Factor participant pitches are a capital injection provided by an investor and a basket of fintech related services provided by supporters: KPMG, Rusanovs & Partneri, The Connector.
One of the Fintech Factor participants will receive a Sympathy prize from Huntli.io: free onboarding and 12 months of complimentary transaction monitoring and risk management with the Huntli.io system.
WHO CAN PARTICIPATE?
Fintech companies registered in Latvia, Lithuania, Estonia, or even wider Europe can apply. We welcome early stage fintechs in areas like payments and e-money, crypto, crowdfunding, lending, regtechs, etc.
APPLICATIONS ARE NOW CLOSED.
FINTECH FACTOR TIMELINE
02.08.–25.09.2023
The application period for the participation in the Fintech Factor.
29.09.2023
The evaluation of applications and the nomination for the participation in the Fintech Factor.
09.10.2023
A pitch training session from 16:00 to 18:00 for the Fintech Factor participants led by Marine Krasovska, Head of the Financial Technology Supervision Department at Latvijas Banka, Zane Kampa, Ventures Analyst at Change Ventures, and Armands Broks, Founder and CEO of Twino, to help polish their pitch before the competition. Venue: Pērses iela 2, Rīga.
10.10.2023
On the Forum date the Fintech Factor participants one by one will meet the panel of experts who are also the jury of the competition:
Gary Palmer, President, CEO & Chairman of Payall
Armands Broks, Founder and CEO of Twino
Renāts Lokoments, Strategic Partner at Venture Faculty.
The time limit is 15 minutes for each participant (5 minutes for the pitch, 10 minutes for the feedback and consultation session).
The jury selects two finalists who will have the opportunity to pitch on the main stage in front of the Fintech Forum audience and get valuable prizes:
1. a real capital injection (a money prize of 10 000 euro) provided by an investor Gary Palmer for the best pitch
2. a basket of fintech related services provided by supporters: KPMG Baltics SIA – a gift card of ten hours of tax and legal consulting (2nd place in the competition); ZAB “Rusanovs&Partneri” – a gift card of two hours of AML consulting (2nd place in the Competition); The Connector – a gift card of two hours consulting (2nd place in the Competition); Crystal Blockchain B.V. – a six-month subscription to Crystal Blockchain’s platform.
One more special prize will be provided by Huntli – free onboarding and 12 months of complementary transaction monitoring and risk management with Huntli.io system (sympathy prize) for the Fintech Factor participant who will be announced separately by Huntli during the awards ceremony.
Prizes for the 1st and 2st places are paid/are given to the company. Latvijas Banka is not responsible for the agreement between the investor and supporters and the winner of the competition regarding the issue of prizes. The contacts of finalists will be given to investor and supporters regarding the issue of prizes.
PARTNERS
SUPPORTERS
