Toronto-based Chexy and Carbonhound among the group of startups chosen.
Eight startups have been chosen for the fourth edition of the Prosperity Accelerator. The four-month program is focused on startups with products that are designed to improve the financial prosperity of consumers.
“Startups that graduate from accelerator programs have a 23% higher survival rate.”
– David Marquis, Intuit
The program will pair an expert at Intuit with each startup to help mentor them on approaches to customer-driven innovation. The startups will also have access to additional experts from Intuit and the broader industry who will mentor in areas such as product design and development, partnerships, marketing, sales, engineering, and venture capital.
The startups chosen for the accelerator are: Carbonhound, NetNow, Requity Homes, Spruce, Chexy, goPeer, LenderBidding and Parachute.
Carbonhound is a carbon management software platform for small and mid-sized enterprises to measure, reduce, verify, and market their carbon emissions. The startup “helps democratize” access to carbon management tools, making them easier to use and providing access to affordable expertise.
Netnow helps users grow their B2B business online by providing flexible payment terms to their customers. It has raised $355,000 CAD in two rounds of pre-seed funding to date, according to CrunchBase.
Requity Homes offers an alternative path to homeownership for aspiring home buyers who are not mortgage-ready in Canada. Through its rent-to-own program, aspiring home buyers can rent a home with the option to purchase later. It raised $1.2 million CAD in April 2022 to bring its rent-to-own model to Western Canada.
Spruce is an AI-powered loan origination and decisioning software that can collect, analyze, underwrite, and monitor small business data. Users can connect the financial software they already use to Spruce with over 100 apps in its catalogue.
Chexy is a payments platform that allows tenants to earn rewards and build credit on rent, leading to potential homeownership. It raised $302,000 CAD in pre-seed funding in April 2022, according to CrunchBase.
goPeer is a peer-to-peer lending platform that provides low-interest loans to borrowers, while generating interest for investors from excess capital. It has raised $1.3 million CAD in funding to date, with its most recent pre-seed round totaling $1.25 million CAD in July 2021, according to CrunchBase.
LenderBidding is a licensed platform that offers salaried agents for consumers who seek to borrow from a private lender. Its platform places user’s files in front of over 45 of the biggest licensed private lenders in Canada.
Parachute offers loans and supports consumers to improve their financial wellness through debt management, financial literacy education, and savings strategies. The startup can give users a loan of up to $25,000 based on approved credit.
Intuit and Highline Beta launched the Prosperity Accelerator in 2020 in response to the financial hardships businesses were facing during the COVID-19 pandemic. Previous participants in the accelerator include Homewise, Stamped and Emma.
“Startups that graduate from accelerator programs have a 23% higher survival rate than their counterparts,” claimed David Marquis, vice president and Canada country manager at Intuit. “We’re excited to connect and create with this promising group of innovators at our new Toronto site, and help these entrepreneurs to realize their startup’s growth potential.”
Feature courtesy Pexels. Photo by KindelMedia.