Boosting Fintech success in NZ

Tuesday 26 March 2019

Applications are now open for the programme which helped boost the success of some of New Zealand’s top fintech start-ups, including Sharesies, Hnry and Choice.

Now in its third year, the 2019 Kiwi Fintech Accelerator programme founded by Kiwibank, will be joined by New Zealand’s own international fintech success story, Xero, along with SBS Bank, Centrality, and Centrix – all of which have a proven commitment to growing New Zealand Inc.

The Kiwi Fintech Accelerator was established to provide New Zealand fintech start-ups with pathways and access to global markets. The programme, jointly delivered with Creative HQ, runs for 12 weeks and sees teams work intensively with expert support to innovate, build, launch and expand their business.

Kiwibank’s Fintech Lead, Anand Ranchord, says: “Previous ventures have created great products and through the accelerator programme were able to network and raise funds to accelerate the growth and development of their businesses.

“The diversity of Kiwi FinTech Accelerator sponsors provides amazing opportunities for start-ups to find partnerships to grow. There is access to expertise, tools to build products, as well as go-to-market support – invaluable assets to any start-up business,” Ranchord said.

The fintech sector in New Zealand is accelerating at a rate more than 10 percent faster than the global average, according to insight from Fintech New Zealand. In 2018, growth in New Zealand fintech rose to 48.5 percent, compared to the global average of 31 percent.

Recognising the opportunity to foster further growth, for the first time the 2019 programme will run from multiple sites. In addition to central Wellington, an Auckland contingent will be based out of Xero’s Rewired space and South Island teams will be based in the SBS Bank office in Invercargill.

Nicole Buisson, Xero’s Small Business Director, believes New Zealand can lead the world in financial technology, which will transform the financial services industry and lift the economy.

Highlighting why Xero offers the ideal space to host aspiring businesses looking to expand, Buisson says: “Rewired is an innovation hub for tech and fintech-focussed small businesses, so we saw it fitting to host the first Auckland based Kiwi FinTech Accelerator in our space. Having started as a small business ourselves, we know that it takes a community to develop, collaborate and scale together, which is why we are proud to be partnering with Kiwibank in this venture.”

Applications for the Kiwi FinTech Accelerator close on May 24, with the programme beginning on July 1. A Demo Day, where participants pitch to potential investors and the wider tech community, will take place in early October.

For more information on the 2019 Kiwi FinTech Accelerator, related events, and to apply visit: www.nzfintech.kiwi

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