Five Innovative Women-Led Startups Present New Technologies and Products at BMO and 1871’s Third Annual WMNfintech Program

• BMO & 1871’s WMNfintech is North America’s largest fintech industry program for women-founded and women-led startups
• More than 15 percent of female fintech entrepreneurs across the board North America has participated in WMNfintech

CHICAGO, 15 August 2022 /PRNewswire/ – BMO Financial Group and 1871 today named the five companies to present at its 2022 WMNfintech program, following an immersive 4-week educational programming known as PYROS and fintech-enhanced learning workshops delivered by BMO executives. WMNfintech is North America’s largest nonprofit fintech industry program for women-founded and women-led startups. The program is designed to bridge the gender gap in the startup and technology community by giving more female entrepreneurs the opportunity to bring innovative technologies and products forward.

Since its launch, female-led fintechs in the program have raised more than 29 million dollars in capital and created over 170 jobs. In addition, over 15 percent of all female fintech entrepreneurs have i North America have come through BMO’s doors since 2018 and become a valuable part of our ecosystem. This year, the following five women-led companies were selected to participate in the 2022 cohort of WMNfintech:

Sign-Speak (New York, NY)
Sign-Speak is a real-time AI sign language recognition software that enables the translation of sign language into English and vice versa, enabling businesses everywhere to communicate more effectively with their deaf and hard of hearing customers and employees.
• Yamillet PayanoCEO and co-founder

Xenia (New York, NY)
Xeni solves the massive problem of payments in the travel industry with a Web 3 native accounting system that includes payment and settlement onramp and offramp to reduce payment and settlement costs, reduce fraud and chargebacks, and simplify accounting and account reconciliation.
• Rachel Spectorpresident

Debt (Sheboygan, WI)
Debtle is a cloud-based software that automates, improves and simplifies the negotiation and settlement of overdue invoices through a secure and consumer-friendly platform.
• Stephanie HoskinsCo-founder

Other keys (Memphis, TN)
Second Keys is a real estate software company built by property managers for property managers. It has all the standard features of a property management platform: accounting; collection of rent; maintenance tracking and proprietary AI-powered maintenance; and a cost and return predictor.
• Amber HayesCEO

Grounded technology (New York, NY)
Grounded Technologies helps banks grow. They are a middleware layer that provides regulated balance sheet growth through core deposits and loans as well as banking products with a low code, without a code.
• Danae Vachatafounder and CEO

“We are thrilled to join our long-time partner BMO Financial Group in welcoming the members of our third cohort of WMNfintech, who will showcase their impressive technologies and products,” said Betsy ZieglerCEO of 1871. “These five women-led startups are building extraordinary businesses that will shape the future of the financial sector, and we’re proud to provide the resources, mentorship and support they need to thrive.”

“The WMNfintech program is an incredible opportunity for these women-led fintechs to gain well-deserved exposure with our business leaders and ecosystem partners. It’s a chance to showcase how their technology and products are solving crucial economic challenges,” said Andrew Harrison, Head, US Digital Partnerships, BMO Financial Group. “This year’s group have all discovered innovative ways to deliver value to our commercial clients and help them run their businesses more easily. BMO is excited to support and contribute to the continued success of these exceptional women-founded and women-led startups as we conclude the program’s third year.”

This week’s events begin with a Founder’s Roundtable today, a dinner with program management Wednesday 17 Augustand the opportunity to showcase their insights to BMO leaders and ecosystem partners on Thursday 18 August.

WMNfintech is strongly aligned with BMO’s commitment to an inclusive society and work to eliminate barriers to inclusion. It represents another example of BMO’s Digital First strategy, focused on building a digitally enabled, future-ready bank that drives progress for its customers, unlocks the power of its people and delivers loyalty, growth and efficiency.

BMO is committed to supporting the advancement of women both inside and outside the bank, including through:

• 1.2 million dollars in funding to SheEO – a not-for-profit company that offers financial support to businesses led by women and non-binary people. BMO’s financial commitment will allow SheEO to fund all 2021 venture applicant companies.
• BMO Empower – a series of long-term commitments to promote inclusive economic growth in the United Statespledging 5 billion dollars over the next five years to address important barriers facing minority businesses, communities and families.

Learn more about BMO’s support of women entrepreneurs, its purpose to boldly grow good in business and life, and 1871 by visiting bmoforwomen.com.

About 1871
1871 is Chicago’s technology hub and the #1 ranked private business incubator in the world. It exists to inspire, equip and support early stage, growth scalers and innovators in building extraordinary businesses. Home to ~450 tech startups, ~300 growth stages, and ~1,500 members, 1871 is supported by an entire ecosystem focused on accelerating their growth and creating jobs in the Chicagoland area. The membership experience includes virtual and in-person access to workshops, events, mentorship and more. The nonprofit organization has 350 mentors available to its members, as well as access to more than 100 partner companies, universities, educational programs, accelerators, venture funds and others. Since its inception in 2012, more than 650 alumni companies are still active, have created over 11,000 jobs and have raised more than $1.65 billion in follow-on capital.

About BMO Financial Group
Serving clients for 200 years, BMO is a highly diversified financial services provider – the eighth largest bank, by assets, in North America. With total assets of $1.04 trillion as of April 30, 2022, and a team of diverse and highly engaged employees, BMO offers a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million clients and businesses . business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

¹ 15 percent of all female fintech entrepreneurs in North America have participated in the WMNfintech program according to data collected from Crunchbase on female or female-led Fintechs founded from 2017 to 2022

SOURCE BMO Financial Group