Irish fintech start-up Trezeo wins top prize at NDRC Investor Day

Company secures €30,000 in follow-on investment ahead of launch of pilot in UK

Garrett Cassidy, chief executive of Trezeo, Flavian Charlon, chief technology officer at Trezeo, Ben Hurley, chief executive NDRC and David Tighe, head of Enterprise and Innovation in Bank of Ireland

Garrett Cassidy, chief executive of Trezeo, Flavian Charlon, chief technology officer at Trezeo, Ben Hurley, chief executive NDRC and David Tighe, head of Enterprise and Innovation in Bank of Ireland

 

Dublin-based fintech firm Trezeo has secured €30,000 in follow-on investment after beating 10 other start-ups to be named the winner of a competition run by one of Ireland’s most successful early-stage investors.

The company, which was founded by fintech veterans Garrett Cassidy and Flavien Charlon last year, has created a subscriber-based software platform that helps self-employed people to predict income streams.

On Tuesday, it scooped the top prize at the NDRC (National Digital Research Centre) Investor Day in Dublin in a move that provides it with additional funding.

Trezeo is launching a pilot in the UK next month and is currently seeking to raise funds to go live with its full product in 2019.

The company works by providing subscribers with a regular, defined income. It also offers emergency cash for unexpected events and uses data analytics and machine learning to identify, encourage and reward good financial behaviour.

Mr Cassidy has previously worked for Goldman Sachs, Ulster Bank and Irish VC-backed start-up Marrakech. A former programme director at Bank of Ireland, he ran the first fintech accelerator at the NDRC was also European managing director of peer-to-peer payments technology company, Circle. com.

Mr Charlon previously worked at Microsoft and also founded pioneering blockchain technology company Coinprism in 2014. In addition, he is the author of the Blockchain Open Assets protocol, used by Nasdaq.

“Trezeo has an outstanding solution and stood out to all of the judges as having serious potential for growth in international markets,” said Ben Hurley, chief executive of the NDRC, an organisation which has built and invested in 226 companies. The companies have gone on to secure a total of €152 million in follow-on investment between them.

“This finishing investment will be coupled with intense supports from NDRC in areas including investor relations both here and abroad, helping to build the business further,” he added.

In addition to coming first at NDRC Investor Day, Trezeo recently won the Payments Dragons’ Den competition at PayExpo Europe in London.

The other companies competing in the latest investor day come from a wide number of sectors ranging from equestrian sports data management software to online music community platforms.