Intuit, Highline Unveil 2023 Cohort of Joint FinTech Accelerator
Toronto-based Chexy and Carbonhound among the group of startups selected.
Intuit has unveiled the 2023 cohort of the Prosperity Accelerator that it is running alongside Highline Beta.
Eight startups have been selected for the fourth edition of the Prosperity Accelerator. The four-month program is focused on startups with products designed to improve consumers’ financial well-being.
“Startups that graduate from accelerator programs have a 23% higher survival rate.”
-David Marquis, Intuit
The program will pair an Intuit expert with each startup to help guide them on approaches to customer-driven innovation. The startups will also have access to more experts from Intuit and the wider industry who will provide guidance in areas such as product design and development, partnerships, marketing, sales, engineering and venture capital.
The startups selected for the accelerator are: Carbonhound, NetNow, Requity Homes, Spruce, Chexy, goPeer, LenderBidding and Parachute.
Carbonhound is a carbon management software platform for SMEs to measure, reduce, verify and market their carbon emissions. The startup “helps democratize” access to carbon management tools, making them easier to use and providing access to affordable expertise.
Netnow helps users grow their B2B business online by offering flexible payment terms to their customers. It has raised $355,000 CAD in two rounds of pre-seed funding to date, according to CrunchBase.
Requity Homes offers an alternative path to home ownership for aspiring home buyers who are not mortgage ready in Canada. Through its rent-to-own program, aspiring home buyers can rent a home with the option to buy later. It raised $1.2 million CAD in April 2022 to bring its rent-to-own model to Western Canada.
Spruce is an AI-powered loan origination and decisioning software that can collect, analyze, underwrite and monitor small business data. Users can connect the financial software they already use to Spruce with over 100 apps in its catalog.
Chexy is a payment platform that allows renters to earn rewards and build credit on rent, leading to potential home ownership. It raised $302,000 CAD in pre-seed funding in April 2022, according to CrunchBase.
goPeer is a peer-to-peer lending platform that provides low-interest loans to borrowers, while generating interest for investors from excess capital. It has raised $1.3 million CAD in funding to date, with the most recent pre-seed round totaling $1.25 million CAD in July 2021, according to CrunchBase.
LenderBidding is a licensed platform that provides paid agents for consumers seeking to borrow from a private lender. The platform places the user’s files in front of over 45 of the largest licensed private lenders in Canada.
Parachute offers loans and supports consumers to improve their financial well-being through debt management, financial literacy education and savings strategies. The startup can provide users with a loan of up to $25,000 based on approved credit.
Intuit and Highline Beta launched the Prosperity Accelerator in 2020 in response to the financial difficulties businesses faced during the COVID-19 pandemic. Previous participants in the accelerator include Homewise, Stamped and Emma.
“Startups that graduate from accelerator programs have a 23% higher survival rate than their peers,” claimed David Marquis, vice president and Canada country manager at Intuit. “We are excited to connect and create with this promising group of innovators at our new Toronto site, and help these entrepreneurs realize their startup’s growth potential.”
Feature courtesy of Pexels. Photo by KindelMedia.
