FOR IMMEDIATE RELEASE
DoubleNet Pay Wins First TAG FinTech CapVenture Innovation Award of $50,000
ATLANTA (December 23, 2014) – TAG FinTech, a financial technology industry special interest group of Technology Association of Georgia (TAG) announced that DoubleNet Pay is the winner of the first annual TAG FinTech CapVenture Innovation Award. DoubleNet Pay received a $50,000 cash grant to help the company grow. The TAG FinTech CapVenture Innovation Award was made possible by the collective efforts of Elavon, Fiserv, Habif, Arogeti & Wynne, LLP, Invest Atlanta, PayScape, Sysnet Global Solutions, TAG and TAG FinTech, TSYS and TTV Capital.
“We congratulate DoubleNet Pay and all of the companies that participated in this program,” said TAG President/CEO Tino Mantella. “TAG has always recognized Georgia’s strong FinTech industry, and we are pleased to be a part of helping in its continued growth and success.”
“I am quite pleased with this first FinTech Innovation program,” said Sean Banks, TAG FinTech chairman and partner at TTV Capital. “All of the companies that participated performed admirably. I look forward to expanding the award in 2015 to continue to stimulate entrepreneurship in Georgia around FinTech.”
“Atlanta’s technology infrastructure, thriving FinTech community and organizations like TAG provide valuable resources for companies like DoubleNet Pay so they can deliver innovative technology solutions that advance the industry,” said Dr. Eloisa Klementich, Managing Director of Business Development at Invest Atlanta.
This was the first year of the Innovation Award program which targets startup businesses focused on delivering innovative technology solutions to the financial services market (FinTech) in Georgia. The grant is awarded to the startup that is judged to have the most innovative technology-based solution that can have a positive impact on the FinTech market. This year’s program was run in conjunction with TAG’s CapVenture program.
CapVenture is designed to equip early stage company executives with the tools and knowledge needed for a smarter and more productive capitalization of their business. The program enables participants to further develop their business plan, making them more attractive to customers and investors.
Additionally, the grant winner will also be eligible for a $50,000 loan from Invest Atlanta, providing a potential of $100,000 of non-diluting seed capital to the successful applicant.
About DoubleNet Pay
DoubleNet Pay is an actionable financial wellness solution that complements traditional financial benefits packages. The patent-pending software tracks and pays bills and sets money aside for savings goals automatically from each paycheck giving employees a clear view of what's left for spending and helping to reduce late fees and overdraft charges.
DoubleNet Pay is in the final phases of integrating with one of the top global payroll providers. This partnership is expected to debut in the marketplace in early 2015.
About TAG FinTech
TAG FinTech's mission is to build recognition of Georgia as the hub of choice for the world's leading financial technology providers (a counterpart to Silicon Valley for technology or Hartford for insurance) with the goal of accelerating the accumulation of capital by its members.
We will accomplish this by fostering a business environment conducive to the ongoing success of the community's companies, employees, service providers, educational institutions, entrepreneurs and investors, helping them create, build, and maintain innovative financial services that meet their customers' growing needs.
To continue expanding the hub, FinTech will empower a collaborative culture that attracts and retains innovation, jobs, partnerships, and capital, and where successful entrepreneurs can reinvest in the local ecosystem to help sustain the space.
About The Technology Association of Georgia (TAG)
TAG is the leading technology industry association in the state, serving more than 26,000 members through regional chapters in Metro Atlanta, Athens, Augusta, Columbus, Macon/Middle Georgia, and Savannah. TAG’s mission is to educate, promote, and unite Georgia’s technology community to foster an innovative and connected marketplace that stimulates and enhances a tech-based economy.
The association provides networking and educational programs; celebrates Georgia’s technology leaders and companies; and advocates for legislative action that enhances the state’s economic climate for technology. TAG hosts over 200 events each year and serves as an umbrella organization for 34 professional societies. Additionally, the TAG Education Collaborative (TAG’s charitable arm) focuses on helping science, technology, engineering and math (STEM) education initiatives thrive.
For more information visit the TAG website at www.tagonline.org. To learn about the TAG-Ed Collaborative visit http://www.tagedonline.org/.
About Invest Atlanta
Invest Atlanta is the official economic development authority for the City of Atlanta. Its purpose is to strengthen Atlanta’s economy and global competitiveness in order to create increased opportunity and prosperity for the people of Atlanta.
Chaired by the Mayor of Atlanta, and governed by a nine-member board of directors, Invest Atlanta’s programs and initiatives focus on developing and fostering public/private partnerships to create jobs, grow the economy, revitalize neighborhoods, attract investment, spur innovation and encourage entrepreneurship. To achieve these goals, Invest Atlanta leverages the benefits of bond financing, revolving loan funds, housing financing, tax increment financing and tax credits.
DoubleNet Pay’s Brian Cosgray, Cody Laird, Bret Levy. Photo courtesy of: TAG.