The founders of WalletFi had a tough decision back in May. After applying to two prominent FinTech accelerators, the Chapel Hill-based team was accepted into both.
A yes to Techstars’ Barclays Accelerator would have meant three months in Cape Town, South Africa for its inaugural program, along with funding and access to the impressive networks of both companies.
Little Rock, Ark., home to the VC FinTech Accelerator, wasn’t quite as sexy a locale, but the 12-week program was sponsored by FIS, the largest FinTech company in the world. It offered funding as well as access to 30 executives from a variety of major banks and FinTech companies who’d signed on as mentors and advisors.
The FIS relationship became the decision point, says CEO and co-founder Alain Glanzman (pictured top left), who came up with WalletFi’s software for easily transferring recurring payments from one credit card to another.
“They have a $30 billion market cap—they are how money gets moved between banks,” he told me at a Launch Chapel Hill celebration Tuesday night.
The decision has been a good one. WalletFi has signed on its first customer and two high profile advisors including the CEO of a publicly-traded bank.
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