BOSTON--(BUSINESS WIRE)--MassChallenge, a global network of zero-equity startup accelerators, will launch its newest vertical accelerator to support and grow startups in the financial technology (FinTech) industry. Headquartered in Boston, MassChallenge FinTech will match later-stage FinTech startups with industry leaders to accelerate the emerging products and services that have the power to transform the financial services ecosystem.

Startups selected for MassChallenge FinTech will participate in a six-month accelerator where they will work closely with a leading partner on a range of activities from co-development and product validation to strategic investment and advisor introductions. At the end of the program, the enterprise-ready startups have the opportunity to win a portion of $250,000 in zero-equity cash prizes.

To lead its newest program, MassChallenge has named Devon Sherman as Program Director of MassChallenge FinTech. Prior to joining MassChallenge, Devon was a global strategist at State Street Corporation in its Boston, New York, and London offices. Devon is a magna cum laude graduate of Harvard University and a graduate of Stanford Graduate School of Business’s Ignite program.

MassChallenge FinTech is supported by a public-private partnership that includes founding partners Massachusetts Mutual Life Insurance Company (MassMutual), Putnam Investments, Fidelity Investments, Citizens Bank, John Hancock, and the Massachusetts Competitive Partnership (MACP). It has been endorsed by Massachusetts Governor Charlie Baker, Boston Mayor Martin J. Walsh, and is partnering closely with FinTech Sandbox. MassChallenge FinTech is now actively seeking additional “challenge” partners, and has received commitment from Eastern Bank.

The MassChallenge FinTech program will run from January 2019 through June 2019. Applications for the first cohort will open in August 2018. For more information about MassChallenge FinTech, visit https://masschallenge.org/programs-fintech and follow MassChallenge FinTech on Facebook (https://www.facebook.com/MassChallengeFT) and Twitter (https://twitter.com/MassChallengeFT).

MassChallenge FinTech Founding Partners
Massachusetts Mutual Life Insurance Company, Putnam Investments, Fidelity Investments, Citizens Bank, John Hancock, and the Massachusetts Competitive Partnership

About MassChallenge

Headquartered in the United States with locations in Boston, Israel, Mexico, Switzerland, Texas, and the UK, MassChallenge is committed to strengthening the global innovation ecosystem by supporting high-potential startups across all industries, from anywhere in the world. To date, more than 1,500 MassChallenge alumni have raised more than $3 billion in funding, generated more than $2 billion in revenue, and created more than 80,000 total jobs. Learn more about MassChallenge at masschallenge.org.