Toronto-based gifting platform Vouchr took home $1 million USD at Connecticut Innovation’s global investment challenge, VentureClash. Held at Yale University on October 20, the FinTech company, which provides a global gift-giving platform for any form of digital money for financial institutions, tied for second place. Of the nine finalists, Vouchr was the only Canadian company.
Winning VentureClash companies are required to establish a presence in Connecticut.
“It is an honour to be one of the big winners of VentureClash. This is a significant milestone for Vouchr as it further validates Vouchr’s market approach and position as an emerging global FinTech leader,” said Rob Balahura, founder and CEO of Vouchr.
Over 300 participants entered the challenge and presented their designs to a panel of venture capitalists and innovation experts – including RBS Bank, Greycroft Partners, and Elm Street Ventures. VentureClash offers $5 million in prize money to early-stage companies in Digital Health, Fintech, InsureTech, and IoT. Winning companies are required to establish a presence in Connecticut, and receive mentoring, customer introductions, grants and services. Past Canadian winners include Toronto’s Dream Payments.
“Vouchr had a unique solution in the market with a clear business model, an excellent growth plan and a fantastic team,” said Matt McCooe, CEO of Connecticut Innovations. “We look forward to helping Vouchr establish their presence in the U.S. and facilitating a soft landing for them in Connecticut.”
Disclosure: BetaKit Editor-in-Chief Douglas Soltys previously worked at Vouchr in 2012.