29 September 2021, Auckland, New Zealand
Wych Money, an AI-powered financial personal assistant which takes the effort out of managing personal finances, was accepted into Newchip’s global accelerator program. Designed to provide all the skills and tools founders need to rapidly fund, build and scale their companies, past accelerator cohorts averaged more than 17.5 times the average funding amount. The equity-free, fully digital accelerator has helped over 1,000 founders from 35 countries raise over $300 million in funding.
“Newchip evaluates a vast number of companies from across the globe, selecting a small percentage to join our accelerator,” says Armando Vera Carvajal, Vice President of Product at Newchip. “This strict selection process makes us an ideal partner for investors looking for promising start-ups. Fintech companies like Wych can scale quickly with proper funding and guidance. We are excited for Wych and believe they will do well at Newchip.”
Wych's AI-powered assistant predicts upcoming expenses, finds savings, and helps achieve goals. Wych’s focus on automation lets us take the stress out of achieving financial success.
“Being accepted into the Newchip Accelerator is exciting, we look forward to connecting with US based investors and partners to build on the growing interest in AI and the open data economy” says Dermot Butterfield, CEO at Wych. “COVID has impacted so many people’s lives and plans, we believe that we can make a measurable impact on our customers' financial lives, helping them get back on track after this troubling time.”
About Newchip
Newchip is an online, global startup accelerator, led by a world-class team of entrepreneurs and investors. It was designed to provide founders with the tools needed to rapidly fund, build, and scale. Since its inception in 2019, the equity-free, remote accelerator has helped over 1,000 founders from 35+ countries raise over $300 million in funding. It has three distinct six-month accelerator programs based on company stage: Pre-Seed, Seed, and Series A. Its vast network of global investors, strategic partners, and mentors guide companies from team building and prototype development to securing high-profile VC investment, corporate partnerships, and everything in-between.