UK fintech start-ups Swave and Trade It win backing from Citi
Businesses awarded $25,000 each after pitching at global Citi Mobile Challenge to panel of executives from Citi, IBM and Uber
Financial services firm Citi has awarded London-based app Swave and Bristol-based Trade It as winners of its Citi Mobile Challenge; a global competition to find new technology and innovation that will transform banking and business.
Swave, an app that encourages users to monitor spending, and trading platform Trade It will now each receive $25,000 to develop their businesses and bring their solutions to market.
Two start-ups from Africa and America were also announced as winners of the competition; Kentucky supply chain solution Umati Capital and Kenyan textbook subscription app Kytabu.
The winners were chosen after pitching to top executives from Citi, IBM, Uber and Mastercard and were shortlisted from 77 start-ups across 18 countries with events in London, Warsaw, Jerusalem and Nairobi.
Citi’s Heather Cox commented:“We invited technology developers to reimagine digital banking and they went far beyond.
“They presented solutions that could transform financial services and fuel progress in other industries like transportation and education. These developers are truly inspiring.”