The 2020 class of Techstars and Western Union Accelerator commenced earlier this week with a cluster of 10 innovative financial firms.
16th July 2020 (San Francisco, CA): Techstars & Western Union Accelerator recently broke the much-awaited announcement regarding the inception of their class of 2020. The aim of bringing together this assemblage of firms is to allow access to advanced and better financial services and tools. By virtue, it presents a better understanding of inclusivity, requirements, and results.
We at Line, a Techstars portfolio company, are absolutely thrilled to be a part of this association! We are looking to lead the financial transformation in a post-COVID world that is destined to append credit cards and credit bureaus, rewiring the ecosystem for a modern inclusive world and are thrilled to be in good company with Techstars and Western Union while doing it. Agreeing with the crux of the program, we want to create a financially inclusive structure for everyone out there via our modern financial network that delivers instant interest-free funds to consumers who are not required to demonstrate credit-history, have steady paychecks or relevant credit-scores to access it. Line is delivered via its iOS and Android apps, through a growing pipeline of merchants as well as their apps to power essential purchases, bills, money transfers, and more. Merchants participating in the Line network don’t pay any transaction or processing fees while enjoying near zero payment failures, faster checkouts, and very high conversion rates.
Being associated with this brainchild of Techstars & Western Union Accelerator has given us an enthralling opportunity to make the market more accessible and inclusive.
“For financial inclusion to come to fruition, a systemic change is required and that begins at the root of it all – the credit scoring systems and networks driving systemic financial inequality. This is why we are creating an inclusive modern financial network of high-trust credit-worthy individuals and service providers sans credit-bureaus, networks, processors, and other intermediaries. A direct line between individuals and service providers, creating a balanced and equitable ecosystem for all”Akshay Krishnaiah, Founder and CEO of Line
The program requires an exhaustive force to execute better equitable systems under its umbrella. Line was amongst the 10 firms that were selected after a comprehensive evaluation of thousands of global applicants by Techstars and Western Union Accelerator for the class of 2020. These fellow companies share innovative and impactful contributions in today’s financial space. We are working our way towards making capital more accessible, refined, and tuned for everyone.
Along with a phenomenal cluster of innovative and edgy companies, Line hopes to forge a path towards global systemic change in a post COVID world.
Line (https://useline.com), a Techstars portfolio company, was founded by Bangalore born entrepreneur Akshay Krishnaiah who previously held product leadership positions at PayPal & eBay and is recognized as a global leader in Platform Innovation with several fintech patents to his name. Akshay spent over a year with the underbanked and under-served community to understand the root cause of their overwhelming financial condition before starting Line. Line recently hired YourStory and Wally Alum Chandan Raj as CTO as well as the world’s leading ethical hacker Anand Prakash as Chief Security Officer. The team is actively hiring globally to join its team of award-winning FinTech experts from PayPal, Ripple, Wally, PhonePe, Trusting Social, etc.