Quartet of startups join Wells Fargo accelerator

Edquity, Hurdlr, Redrock Biometrics, and SimSpace have joined the Wells Fargo Startup Accelerator, the company announced at this week’s Money20/20.

The companies receive guidance from Wells Fargo business and technology personnel and are also eligible for funding of up to $500,000.

Steve Ellis

“Since the dawn of the internet as a commercial channel, Wells Fargo and fin-tech firms have been working together to create innovative digital experiences for consumers and businesses,” said Steve Ellis, head of the Wells Fargo Innovation Group. “This program plays an increasingly integral part in helping us explore and implement breakthrough ideas to build a better bank.”

So far 17 startups out of close to 1,600 applicants have joined the program. Interested companies can apply until Dec. 6 at www.wellsfargo.com/accelerator. The four newest companies are:

Edquity is a college financial planning app for high school and college students that helps them learn the short and long-term financial implications of studying at a specific institution, including net cost, debt, potential earnings, and cost of living. They help develop a financial plan that helps them graduate on the road to financial success.

“It’s no secret that we as a society need to do more to ensure our college students are set up for financial success not just in navigating college but also beyond,” Edquity cofounder and CEO David Helene said. “Problems of this magnitude require equally big solutions, and we’re extremely excited to join the Wells Fargo Startup Accelerator to explore ways to scale the impact of our work helping students navigate the numerous financial challenges related to selecting, financing, and surviving college.”

Hurdlr has developed an API and mobile apps which provide financial, tax, and performance insights for “The 1099 Economy,” including consumers, freelancers, independent contractors, and self-employed small business owners. Such people can access the Hurdlr platform to create solutions to improve customer financial performance.

“By joining the Wells Fargo Startup Accelerator, we’ll be testing multiple business cases, looking to provide strategic insights via our API,” Hurdlr CEO Raj Bhaskar said. “We look forward to further demonstrating how Hurdlr’s Profit & Tax Engine might be leveraged by financial institutions and others for the benefit of their customers.”

Redrock Biometrics created PalmID, a palm print-based authentication software that works on any device with a camera.

“Our PalmID is a perfect fit for user authentication in fintech, and we look forward to applying this to additional use cases,” co-founder and CEO Hua Yang said. “The Wells Fargo Startup Accelerator program will provide resources and connections that are critical for us to engage this market.”

SimSpace leverages its founders’ military and defence experience to produce cybersecurity testing, training and risk assessments.

“Our relationship with the Wells Fargo Startup Accelerator significantly enhances our efforts to both radically improve the cybersecurity landscape and to become the trusted source for cybersecurity testing and risk assessments,” co-founder and CEO William Hutchison said. “The program allows us to further refine our state-of-the-art, cyber range capabilities to provide software-based, quantitative insights into how a company can protect its critical assets against an advanced cyber threat.”

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