Tag: accelerators

The Fintech 5 with Kristen Castell — Managing Director of the Center for Accelerating Financial Equity (CAFE)

Posted on by Jim Smith

The Fintech 5 is a series of blog posts consisting of questions and answers designed to help you get to know the people in the Fintech Sandbox community.

Kristen Castell is the Managing Director of Delaware-based CAFE, a non-profit org with a flagship fintech accelerator program dedicated to improving financial outcomes for low- to moderate-income individuals. In this role, she has built an ecosystem of fintech founders, banks, investors, academia, industry leaders and a program to support the growth of extraordinary fintech companies.

CAFE is one of our Accelerator Partners and several Data Access Residents have participated in this accelerator program.

Kristen has a background as an executive at large financial services firms like JPMorgan and BlackRock, and also as a fintech entrepreneur. She is also a board member and advisor for many non-profit organizations and for-profit fintech companies, including the MicroDreams Foundation (microfinance) and Blended (co-parenting expenses fintech).

Kristen Castell Managing Director Center for Accelerating Financial Equity (CAFE)
Kristen Castell

#1. Kristen, tell us about your mission at CAFE.

We launched CAFE two years ago with a big vision and mission to be the “center for excellence” for the US in helping to grow mission-driven technologies that improve LMI (low-to-moderate income) people’s lives. Financial wellness is declining across the country for so many people – and by supporting even one company with new innovations in this area we can have a multiplier effect to help thousands and millions of people’s lives. I’m passionate about social impact and how we can bring all the players in the financial industry together, which is good for business, and also has a positive impact to make the system work better for all. CAFE was launched out of the Fintech Innovation Hub in Delaware and works across the US through offering our programs and working with the large community of partners we are building.

#2. What does the CAFE accelerator program offer and who is it designed for?

When CAFE launched, we created a unique accelerator program to help mission-driven fintech companies that have a product in market, some early financial institution customers, and are ready to scale. Our two month program is held twice a year for two months to support six companies at a time. This is an equity-free program that introduces the founders to relationships with investors, financial institution customers, academia, regulators and other industry leaders which is invaluable to their growth. Our next program has opened applications now (until Aug 15th) at www.ftcafe.org/apply and we also plan to launch additional programs and partnerships this Fall 2025.

#3. You moderated a panel for us at Boston Fintech Week in 2024 called “Why I’m Optimistic: What is on the horizon for technology & innovation in financial services.” How would you answer that question today?

This was one of my favorite panel discussions that I’ve led at any conference because of the spirit of the question being “optimistic” and focused on some of the exciting new innovations in the industry and things going right instead of all our concerns (also valid). In my role at CAFE, I get to work with so many people across the financial services industry in a variety of roles that care about our mission of technology + humanity and how we can build innovations that help people’s lives. I see how the fintech founders I work with are collaborative and support each other rather than competitive. It makes me optimistic that there are so many people that “care” and now using technology to create real solutions to problems and building a future that works better for people.

#4. If you could change one thing about the fintech ecosystem, what would it be?

The belief that making money and being focused on helping people is mutually exclusive. In fact, I believe the best way for a fintech or financial services organization to be successful is to focus on the long-term value for their people (employees, customers, suppliers, etc.) and then how that is financial material to long-term profitability. While CAFE is a nonprofit org, we are not a “charity” – when we work with large banks and other organizations we speak to the business contacts that are interested in the technology companies we work with because they could be additive to their business is servicing customers in new ways or obtaining new customers. We also work with the foundations and impact-focused groups that want a scalable way to have a positive impact on LMI people’s lives.

#5. What is the best career or life advice you have received?

“Ask for it.” When I worked at BlackRock, I volunteered as a leader of the Women’s Network and we created a program for employees (especially just starting their careers) on how important it is to ask for opportunities and how to do it. In corporate (and really in every aspect of life), it is important to share about what you are interested in and ask for what you want – so that way the other party has better clarity and can help you get there. It’s these little bold moves and asks that make a difference.

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Meet Level2 — A Demo Day 11 Presenting Startup

Posted on by Jim Smith

This year, Fintech Sandbox Demo Day will take place on April 28. The presentations will be virtual and the event, as always, is free. Demo Days are exciting because we get to showcase startups that are on the very cutting edge of innovation and you get to see what they’re up to before they’re discovered.

Over the next few weeks, we’ll highlight this year’s presenting entrepreneurs. Today, we’re talking to Andrew Grevett, Co-founder and CEO of London-based Level2, a fully visual, no-code, systematic trading strategy creation platform built for active traders.

Andrew Grevett, Co-founder and CEO of London-based Level2, a fully visual, no-code, systematic trading strategy creation platform built for active traders.

Andrew, tell us a bit about Level2. What problems are you solving and what makes your solution unique?

By making systematic trading simple and accessible, we’re helping traders take advantage of automation without the steep learning curve. What sets Level2 apart is that it’s the only fully visual solution out there. We’ve transformed traditional technical analysis and automated trading into something intuitive, so anyone—regardless of coding expertise or technical experience—can confidently use it to enhance their trading.

What is your company’s origin story?

Level2 started from a personal realisation that there was a significant gap in the tools available to retail traders. After years of experience as a trader and also working with technology, I noticed a clear divide between the sophisticated tools used by institutional traders and what was available to everyday retail traders. The goal behind Level2 was to bridge the gap between analysis and execution, making these same powerful tools intuitive, accessible, and empowering for everyone. I wanted to create a platform that would help people feel confident using automation, fundamentally changing how people trade financial markets in future.

How significant is the active trader market?

In recent years, the retail trading market has experienced substantial growth. A big driver behind this surge has been the rise of online broker platforms that have made trading more accessible to a younger, tech-savvy generation. With the growing popularity of these platforms and increased community-driven social trading, the active trader market is only expected to expand further.

Can you describe what it’s been like to be part of the Fintech Sandbox community?

It’s given us access to a network of like-minded innovators and industry experts, all focused on pushing the boundaries of what’s possible in fintech. The data resources and support provided through Fintech Sandbox have been invaluable in helping us refine the MVP, get product market fit and scale.

Why is data access important to your startup?

Accurate and timely data is the foundation of any trading strategy, and so it’s essential for us to deliver this to our users so they can take full advantage of our platform’s capabilities. With high-quality, real-time data, we ensure that traders can make informed decisions quickly and confidently.

What milestones has Level2 achieved so far?

The initial version of our trading application is live, and we’ve already signed contracts and started work on prototype testing with our first three partners in the USA and APAC.

What trends in fintech are you most excited about?

The rise of the active trader is a major trend reshaping the retail trading landscape, and it’s one we’re particularly excited about. As more traders move towards short-term, data-driven trading, the demand for advanced tools and automation grows. This trend will have a significant impact on the way brokers engage with their audience and it will create huge opportunities for innovation and growth in the retail trading space.

How does Level2 think about latency?

Our infrastructure is designed to optimise speed, ensuring that traders can act quickly on market opportunities, automating their trades and managing their risks in almost real-time. By focusing on low-latency solutions, we help traders stay ahead in a competitive and fast paced environment.

You’ve participated in both Y Combinator and Techstars. Can you compare and contrast?

Both programs contributed to our growth but in different ways—YC education taught us to scale quickly, while Techstars helped us focus on the details and build a solid foundation, with practical, day-to-day guidance that helped us refine our operations and strategy.

What’s next for Level2?

The next step for Level2 is to continue innovating and refining our platform to meet the growing demand for intuitive,  automated trading solutions. I think as today’s traders become much more tech-savvy and community-driven, Level2 is perfectly positioned to empower a new emerging generation. We’re focused on delivering even more advanced automation features centered around our visual theme, enhancing the end-to-end user experience, and building deeper connections within trading communities to support smarter, more efficient technical trading.

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To hear more about Level2 and 4 other exciting fintech startups, be sure to register for Fintech Sandbox Demo Day 11!

 

The Fintech 5 with Dan Israel — Managing Director, Global Insurance Accelerator

Posted on by Jim Smith

The Fintech 5 is a series of blog posts consisting of questions and answers designed to help you get to know the people in the Fintech Sandbox community.

At Fintech Sandbox, we work closely with a select group of startup accelerators to complement their offerings with our financial data and infrastructure support. One of these is the Global Insurance Accelerator (“GIA”) which offers an immersive, 100-day accelerator program, with both in-person and virtual components, to startups that are building disruptive products and technologies for the insurance industry.

As Managing Director of one of the world’s top accelerators dedicated to insurance innovation, Dan Israel is responsible for identifying the startups capable of bringing fresh ideas to the ecosystem. The 2025 GIA cohort began work on January 8th.

Like Fintech Sandbox, the GIA is now over 10 years old. Based in Des Moines, Iowa (long known as an insurance hub in the U.S.), the GIA has attracted founders from five continents and invested over $3 million in early-stage companies.

Dan Israel, Managing Director of the Global Insurance Accelerator

#1. Dan, what do you look for in accelerator applicants?

When we review applicants, we’re looking for not only a company which is solving a real problem, but also a really great founding team. In fact, often times I’m looking at the founding team first. The drive for the solution, idea, and company has to come from the founders and if the founding team isn’t in it for the long haul, the idea almost certainly won’t work. We’re also looking for coachability and a desire to be mentored.  Our program is mentor based – if that’s not something that a founder is looking for, they won’t find success in our program.

Beyond that, we’re looking to see that the company is solving a real problem facing insurance and financial services. In order to find long-term success, many of the companies who come through our program will look to partner with incumbent participants. If the founders aren’t solving a real problem or have a solution in search of a problem, it makes finding and engaging those partners incredibly difficult. The more closely aligned their solutions are to problems facing the trends of the industry today, the better opportunity for long-term prospects, and an increased likelihood of growth and success for the applicant both in our program and beyond.

#2. What stands out to you about your 2025 cohort?

 I think what stands out this year is what has made the GIA unique for all the years that we’ve been in operations – the varied ideas and types of insurance that these founders are looking to touch. From health, to claim settlement, sports, and more, I continue to be impressed by the breadth of the ideas and problems that are being solved. I think one of the most unique things about our program is that while our cohort represents our Investors and Sponsors, they also represent some of the biggest trends facing the Insurance and Financial Services Industries today. Our Investors and Sponsors have a large role in helping to determine who becomes a part of our program and that has really paid dividends in ensuring that the founders have mentors and support available to grow and drive change.

Now that our program has started, I am also so excited about how well this group has come together as a cohort already. A big part of our program revolves around companies from different backgrounds and parts of this industry joining together on a shared journey. I’ve loved watching the founders from this group share stories and knowledge about their own journeys, their conversations with potential mentors, their struggles, and successes. These relationships will help to shape how these companies grow and its incredibly fulfilling to watch these interactions even early on in our process.

#3. What should we know about the relationship between the GIA and Drake University and the University of Iowa?

 Part of the magic of the GIA is the utilization of our diverse group of partners, which includes these two impressive universities close to home. Our long-standing partnership with Drake University has allowed us to bring in Interns each Spring who work with our founders on real projects for their companies. This provides the interns with an opportunity to see a different side of insurance while giving the founders access to incredibly smart and talented students who are about to enter the insurance field.

More recently, we’ve cultivated a partnership with the University of Iowa where we’ve worked with the John Papajohn Entrepreneurial Center and Tippie College of Business to build out a co-branded course that our founders participate in as a core part of their 100-day experience. It takes portions of the very successful Venture School and Entrepreneurial Center curriculum and combines it with the Insurance and Financial Services specific knowledge to build an incredible foundation for their first days in our program and throughout their experience. These unique partnerships allow for cross collaboration opportunities for students, faculty, professionals, and founders to see all aspects of this industry and to push it forward together in new and exciting ways!

#4. What role does mentorship play in the GIA program?

 Mentorship is truly the heart and soul of what we do at the GIA. Our mentors represent all different aspects of the industry – from incumbent participants (actuaries, claims leaders, senior executives, etc.), to founders, investors, lawyers, academics, and more. From our very beginning, our mentors have been the fuel that has accelerated the growth in our organization as well as the founders who have participated in our program. A key part of the value proposition for our investors and sponsors is the ability to gain prioritized access to our mentor program for their employees leading to enhanced employee engagement and growth as change agents.

Today, our mentor pool includes approximately 130 mentors, representing 65 different companies from in and around the entire industry. During the first three weeks of the 100-Day Program, each company is able to meet with roughly 75 of these potential mentors to determine fit and compatibility. Through a mutual matching process, each cohort company is ultimately matched with between 8–10 mentors that will work with them to help solve the 3–5 biggest challenges facing their companies. These relationships drive the deep insights, needed company pivots, potential partnerships, talent development, and growth opportunities that are required for the ideas and companies to grow. Our mentor program is distinct to the GIA and we are immensely proud of this world renowned and recognized program built over the last decade.

#5. If you could change one thing about the insurtech ecosystem, what would it be?

I’d love to make it easier for incumbent participants and founders/startups to partner together. Given the ever-evolving market conditions facing this industry, its more vital than ever that new ideas, innovations, and partnerships can be found. Firms like Fintech Sandbox and the GIA can play a role in helping to cultivate these new and innovative partnerships, and help to remove the barriers which can exist between market participants, and in my view, encourage willingness to try out new ideas and solutions. Hopefully this would lead to incumbents understanding that sometimes “No, this didn’t work” is a good answer, as knowledge was gained regardless. There is no shortage of amazing solutions and founders, the key is making sure that those who are solving real solutions and problems are able to find the right partners to bring those solutions to the market to improve the overall ecosystem.

Bonus question! What’s the most interesting thing you’ve read recently?

After a number of recommendations, I finally read Atomic Habits by James Clear and I appreciated his take on focusing on 1% improvements rather than always the end-game goal. Given the work that we do at the GIA, we’re often looking ahead to what’s possible and the “end-game” so this take and focus was refreshing and thought-provoking.

Also, I have annually read The Alchemist by Paulo Coelho.  This was a recommendation from a mentor as a way to stay grounded and think about what matters and focusing on enjoying the journey along the way.

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