Upswot

Upswot provides on Lender’s premises the loan onboarding product for SME and Self-employed (SE), with automated underwriting (in less than 60 seconds), and continuous credit re-assessment, based on the data from public registries and cloud business systems SME & SE use.

In addition, our technology saves a lot of time for SME & SE by automating reporting to the Lender after the loan is approved. The reports which Upswot also analyzes in less than a minute.

Ready to use product 20+ pilots in North America, CEE, South America.

Global market. Our clients: Banks, credit bureaus, factoring and leasing companies, insurance companies and other Lenders.

Traditional data sources don’t provide a 360-degree overview of SMB needs. Banks need insights into SMBs business, preferences, risks, and issues to:
- Reduce spam and send relevant sales offers
- Increase supportiveness of the front-line managers
- Improve cross-sell, up-sell, and loyalty rates

Multi-channel insight-based marketing automation powered by alternative data.
Upswot segments SMBs according to their priorities to offer targeted, timely offers for the right products.
Upswot provides ongoing tracking of all crucial, positive, and negative events SMB face in real-time based on alternative data sources(ERP, accounting, CRM, WEB analytics, eWallets, and eCommerce systems that SMBs already use). We track their issues, needs, and preferences to help Lenders & Carriers/Insurers cross-sell more, better, and in a highly automated way.

Indirect competitors - Criskco, Kabbage, Square, Funding Circle

Middleware technologies that mainly analyze transactional banking information using screen scrapping methods. Several other are limited to social media and smartphone data only. Thus, they are mainly focused on retail banking – on consumers, while we are focused on SME.
Upswot never screenscrapes the data. We use APIs only.
Criskco provides access to 5 accountancy systems, while we support more than 40 and not only accountancy systems
They work with the data directly and on own premises which is pretty dangerous for the banks as long as they are managing private and extremely important financial data. Actually, SME share the data with Criskco, which is not convenient from the privacy and security point of view both for the banks and SME
.
Upswot processes all the data only on banking premises. SME shares the data with the bank directly and the only bank has access to this data. We analyze, manage, monitor the data only on banking premises. Thus, we don’t need to apply for licenses, we are not responsible for data security and in result have much fewer expenses comparing with others
Nordigen, Kontomatik
They work with banking (transactional) data only (which is screenscraped), while Upswot provides an option to get eCommerce, eWallets, Analytics services, Shipping, CRM, ERP, wearables, and accountancy cloud systems, used by SME
Even more important is our continuous monitoring system focused on non-traditional sources of data. It works under the principles of trigger + action which makes it easy and convenient to use in our banking-friendly way
Furthermore, all the competitors above don’t offer:
• Triggers and action module
• Marketing automation
• Red flags approach
• Business systems (only 5 by Criskco)
We create the platform and ready-to-use, in-a-box banking services that allow to automate the gathering of the data from traditional sources in GDPR compliant way, structure the data, analyze the data, track the changes in the data and automate marketing on the top of this data
Competitors are offering, mainly, middleware approach, which in multiple cases can’t be used by banks, because of security, reliability and law restrictions
We offer ready-to-use, in-a-box services, and platforms, with adjusted business logic and process, based on our own technology and SDKs for various platforms that are used by our clients. Though, our clients can change it and easily adjust to own needs. Banks can even use us for any other purposes which demand the integration of third-party services
Upswot allows choosing both Thin and Rich clients that can help to create the whole new app for any platform and offers the choice for our clients’ developers which technology to use.

The price of one license per server is10K Euro per month in CEE.
$35K/server + 0,5% from the amout of product in North America.
And one new model is coming.

Saas

We need investment to grow the team and scale up.

10 % of company

Ukraine 2018 - Capital Vilage.
January - April 2019 - Poland Prize by Starter Inkubator Gdansk.
Fabruary - Augst 2019 - StartUp Chilie
June - November 2019 - RBL_Start by Alior Bank
July 2019 - present time - Berkeley Skydeck
September-November 2019 - DIFC Fintech Hive

Best 12 Polish Startups at Luxembourg–Poland FinTech & RegTech Business Conference -
https://www.siliconluxembourg.lu/12-polish-startups-to-pitch-at-luxembourg-poland-fintech-regtech-business-conference/
Poland Prize Grant by Starter Inkubator - 2019
StartUp Chilie Grant - 2019
UC Hasting grant winners