London-based AI company Cybertonica Wins EUR 100,000 Venture Capital Award

Jul 11, 2018 · Cybertonica wins €100,000 in venture capital investment from MiddleGame Ventures

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Cybertonica, a fast-growth AI technology offering cross-channel real-time risk and fraud solutions, and fellow UK-based start-up Railsbank, have won offers of €100,000 venture capital investment from MiddleGame Ventures. Both companies were ranked "most ready for investment" by a group of their peers on the final day of the FinTech Europe 2018, a three-month venture development programme for European FinTech and RegTech start-ups.

The programme was led as part of a global collaboration between PayPal and Village Capital, with local support from MiddleGame Ventures and Luxembourg House of Financial Technology.

Twelve early-stage entrepreneurs came together in Berlin and Luxembourg from April to June 2018 for more than 100 hours of workshops and networking. They spent time developing their businesses, meeting with mentors and investors, and participating in Village Capital’s unique peer-selected investment process, in which entrepreneurs are given decision-making power over where to allocate venture capital within their peer group.

Joshua Bower-Saul, CEO and Co-Founder of Cybertonica said:

"Cybertonica were very proud to be included in the list of 12 companies out of over 1,000 reviewed to join in this great process with Village Capital, PayPal and MiddleGame Ventures. We are in a space that has great promise for future partnerships with all of these players and indeed with our co-prize winners Railsbank we have gone from potential business partners to friends. With the new investments and major contracts that Cybertonica has recently won, it is down to our teamwork, market insights and speed of development that makes the difference. With our CTO and Co-Founder Sergey Velts, CCO Alan Nagle and CPO Olaf Hofmann all contributing to this work, our ranking among the top finishing FinTech start-ups was logical, and the work we put in on the workshops process made it inevitable. Kudos to the Village Capital team and well-impressed by their process and methodology. Special thanks to great mentors and specialists from PayPal, LHOFT, PwC and other participants."

Claire Alexandre, Head of EMEA Government Relations of PayPal commented: "The first edition of Village Capital’s FinTech Europe 2018 could not have been more exciting for the PayPal teams in Europe! There were two buzzing cities, three workshops, four partners, 12 start-ups and more than 80 mentors. We are thrilled to have joined these amazing men and women to further the digital agenda for financial services and push the frontiers of technology innovation. A warm thanks to Village Capital, MiddleGame Ventures and Luxembourg House of FinTech for their strong partnership and to the entrepreneurs for their contagious ambition."

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