Fintech-focused VC firm H2 Ventures has announced the startups taking part in the third intake of its H2 Accelerator program. Receiving $100,000 in seed funding from the firm in exchange for 10 percent equity, the startups will now spend six months working out of Sydney fintech hub Stone & Chalk.
H2 Ventures, founded by Ben and Tony Heap, has invested in 16 fintech startups through the accelerator program over the last two years, including equity crowdfunding platform Equitise, Stockspot, and Simply Wall St.
This third intake of the H2 Accelerator is the first to run since Investec Australia, also an investor in Equitise, acquired a stake in the firm in March for an undisclosed fee. It also comes after Malcolm Turnbull announced an investment partnership between First State Super and H2 Ventures in December last year. The partnership has been an important support for Australian fintech startups with First State Super expecting to deploy around $250 million in technology innovation.
Ben Heap said, “Through the H2 Accelerator, we are in a position to evaluate early stage ventures, and to support entrepreneurs seeking to create new and compelling products, services and business models, and with the support of First State Super we are now in a position to access funding for the best of these new ventures as they grow to become game changing financial services platforms of the future.”
The H2 Accelerator program was the result of Toby Heap parting ways with AWI Ventures in early 2015 to help fill in the gap in the Australian fintech market when it comes to Series A or other rounds of funding.
The five startups taking part in this intake are:
An online auction platform for mortgages, where banks and brokers bid against each other to provide the best deals on home loans.
Edstart is a new lending platform for education. It takes into account specific circumstances to offer customised school fee payment solutions.
SuperAlbert looks to help people better understand their superannuation and how to make the most of it.
Birch Finance tracks and analyses a user’s spending to help them find the best credit card and associated perks.
Tap View looks to provide an easy, frictionless way to pay for content on the internet.
H2 Ventures will be holding its annual fintech expo day at Stone & Chalk in July, with its accelerator cohort to pitch alongside the rest of the firm’s portfolio and other fintech startups.
Image: the H2 team and accelerator cohort. Source: Supplied.