CINCINNATI (OCTOBER 30, 2020) – FinTech Frontier has named Honeycomb Credit the winner of its $60,000 Pitch Competition presented by Cintrifuse, Western & Southern Financial Group and Fifth Third Bancorp. Honeycomb Credit is a Pittsburgh-based business that connects and opens growth opportunities for small businesses by crowdsourcing loans.
FinTech Frontier is a future-focused partnership between Cincinnati-based, industry-leading financial services corporations and Fintech-focused entrepreneurs. The Pitch Contest received more than 50 submissions from 18 states and 7 different countries.
“Honeycomb Credit captured the spirit of what FinTech Frontier is building in the Cincinnati region,” said Pete Blackshaw, CEO of Cintrifuse, the Cincinnati start-up catalyst powering FinTech Frontier. “Entrepreneurs around the nation and the globe are learning that the U.S. Midwest, especially Greater Cincinnati, is an ideal location to launch or scale a fintech start-up. Cincinnati’s big banks and insurance companies are eager to partner, and our entrepreneurial ecosystem supports entrepreneurs in all ways possible.”
See video of Honeycomb Credit’s pitch.
Participants in the FinTech Frontier Pitch Competition were asked to address challenges posed by FinTech Frontier founding partners. The pitch competition offered two themes:
- Closing the Gap – Enabling financial security for consumers at every life stage and from every walk of life by expanding access and/or affordability of financial tools.
- Powering Business – From the back office to the front door, FinTech services that empower business and consumer experiences.
“The Fintech Frontier Pitch Competition has been an exciting experience,” said George Cook, Co-Founder & CEO of Honeycomb Credit. “It’s a real thrill to share the virtual stage with such a talented group of FinTech founders, and to see the powerful ways that technology is being used to make the often intimidating world of financial services more affordable, accessible, and fair.”
HoneyComb Credit, although headquartered in Pittsburgh, also mentioned working on establishing itself in the Greater Cincinnati region.
“We have long been interested in the Cincinnati market and the burgeoning small business communities across Southwestern Ohio,” said Cook. “We are delighted that this competition comes immediately before the launch of our first loan crowdfunding campaign in Cincinnati for Red Feather Kitchen!”
Honeycomb Credit took home the $25,000 grand prize, while InsureLife took home second prize ($20,000) and WiPROSPER came in third ($15,000). All finalists were also given 1 free year of membership to Cintrifuse, as well as a free coworking pass for a year.
1) Debtle, based in New Orleans. Debtle’s unique, cloud-based platform enables organizations and individuals to easily and efficiently negotiate, settle and collect bad debt accounts.
2) Earnestly, based in Cincinnati. The simplest way to automate the collection and reconciliation of earnest money payments, agent fees, and commission disbursements.
3) Fleri, based in Columbus. A marketplace to compare and purchase health insurance policies for loved ones back in your home country.
4) Habit Insurance, based in New York City. Habit bridges (re)insurers with last mile distribution partners who have large pre-existing communities and the right context to show information and sell insurance products.
WINNER: 5) Honeycomb Credit
6) InsureLife (2nd Place), based in Raleigh. InsureLife provides an AI-powered Network Orchestration Platform for Insurers that digitally connects their financial services products with consumers and agents so they interact anytime, growing sales in a contactless world.
7) MortgageBite, based in Cincinnati. MortgageBite allows consumers to shop anonymously for the best mortgage rates and fees in their local area through an auction style marketplace.
8) Rente, based in Cincinnati. Digital platform for landlords to more efficiently manage their properties, while simultaneously improving the renter’s experience through credit reporting.
9) WiProsper (3rd Place), based in Cincinnati. Improving community wealth by enabling our community to participate in and benefit from venture ownership
Fintech, or financial technology, is tech-driven innovation that is transforming every aspect of financial services, from consumer-facing experiences to back-office operations.