Several Atlanta financial technology startups are set to receive a major boost to their operations through a new initiative called the “Pinnacle Atlanta Innovation Accelerator.”
The Pinnacle Atlanta Innovation Accelerator is a 12-week program that is investing $500,000 into five local “fintech” companies ($100,000 each), along with providing mentorship/coaching opportunities for each respective owner.
The first cohort announced for the program, selected from over 80 applicants, includes finance-focused brands that were started by “under-resourced founders” in the Metro Atlanta area, according to a press release.
Among the companies taking part in the inaugural initiative include Billseye (mobile billing app for service professionals), Blended (financial platform for divorced and single-parent families), Guala (social point-of-sale and merchant wallet for micro-sellers), LUXE AI (AI system for maximizing credit card rewards) and Pagarva (multilingual point-of-sale platform for immigrant-owned businesses).
Taking place at The PEER Center, the program will wrap up with a public showcase event in January, where the participating founders will get the chance to pitch their business ideas to various investors and community leaders.
Leading the Pinnacle Atlanta Innovation Accelerator is Keena Pierre, a startup ecosystem builder and operator who is “passionate about democratizing access to capital and opportunity.”
“I’m beyond excited to kick off this inaugural program with five dynamic Atlanta based fintech companies,” said Pierre. “Atlanta is Fintech! With over 70% of US payment transactions going through Atlanta, we are ‘Transaction Alley.’ We’re building more than an accelerator; we’re building a pipeline for fintech innovation in Atlanta and beyond.”
The initiative was established by gener8tor, a company that specializes in running accelerator programs, and Pinnacle Financial Partners, an Atlanta-headquartered bank holding firm for Pinnacle Bank.
Pinnacle says that it helped launch the accelerator program as a way to invest in the “people and ideas that are shaping the future of financial services” in the city.
“Pinnacle is proud to support this program as a way to fuel homegrown innovation and uplift the communities we serve,” said Susan Godbee, financial advisor at Pinnacle Financial Partners.
