TribalScale has announced two new leaders of the Financial Services vertical of its Venture Studio.
TribalScale launched the Venture Studios program in February 2018, looking to raise $100 million for the co-creation of startups in the blockchain, AI, and voice space over the next five years.
The financial services program is the first to officially launch, and will be led by Peter Aceto, former president and CEO of Tangerine as executive-in-residence; and Farid Kassam, principal at Akeelee, as entrepreneur-in-residence. Kassam will oversee the ideation and development of the technology.
“These two key hires bring decades of experience leading successful corporations and startups,” said Kirstine Stewart, President and CRO of TribalScale. “We are excited to see what their guidance and expertise will bring to our Financial Services studio participants.”
The company will also launch Venture Studio verticals in media, entertainment, and retail; travel and hospitality; and automotive.
Aceto was a founding member of Tangerine, formerly ING Direct, which acted as ING Group’s direct banking business. Aceto has also acted as chief sales and marketing officer, chief risk officer, and chief lending officer at ING direct in the US.
“Throughout my years serving at the executive table, I’ve seen first-hand how a lack of corporate innovation can alter a company’s success overnight. I’ve made it my mission to bring entrepreneurs, institutions and companies together to bring innovative ideas to life,” said Aceto. “TribalScale Venture Studios is providing that same opportunity and creates a holistic approach to innovation. I’m excited to roll up my sleeves and work with the Financial Services companies in this program.”
Kassam, who has 20 years of experience in building startups, will work with the Venture Studios team on due diligence of potential ideas and companies, and provide guidance on product commercialization, business strategy, financing, sales, and marketing.
Venture Studios is currently accepting applications from entrepreneurs at the idea stage and seed stage.