tomato pay selected by EIT Digital as one of Europe’s best deep tech scaleups
- tomato pay (formerly known as Fractal) is in the running for the EIT Digital Challenge 2019, Europe’s prestigious competition for Deep Tech scaleups.
- 25 finalists from 12 EU countries will compete on the 6th of November in Brussels
tomato pay has been selected by EIT Digital, a leading European player in innovation and entrepreneurial education, as a finalist in its renowned pan-European competition EIT Digital Challenge. The competition focuses on startups in growth stage, so called scaleups, with deep tech products that leverage sophisticated, hard-to-reproduce digital technologies that fuel the digital transformation.
A total of 279 companies from 33 countries applied in five categories, strategically chosen with respect to major digital trends and European leadership potential: Digital Tech, Digital Industry, Digital Cities, Digital Finance and Digital Wellbeing. In each category, the 5 best companies are invited to an exclusive final event in Brussels on 6 November 2019 to present their technology to an international expert jury of corporates and investors.
tomato pay will compete in the category Digital Finance against four other European deep tech scaleups. In each category, two winners will be awarded and receive a full year support by the EIT Digital Accelerator worth €50,000 to grow their businesses in Europe and beyond. The first prize winners of each category will receive an additional cash prize of €50,000.
The EIT Digital Challenge takes place for the sixth consecutive year. Since its launch in 2014, the competition has received a grand total of 2100 applications from 35 countries. While it initially targeted startups, the EIT Digital Challenge has evolved to become Europe’s flagship competition for deep tech scaleups in digital.
We are very excited to be pitching alongside such an incredible selection of finalists, and attending what will be an enthralling event.
Community has never been as important as it is today, and watching the business and sole trader community struggle throughout the past year has spurred us on to take a more community-led approach to our business.
tomato pay is a simple, QR-code based payments and invoice app powered by Open Banking and built on our tomato pay API platform which offers both AIS and PIS capabilities.
Businesses and sole traders can benefit from our low-cost QR-code payments solution with no hidden fees, which saves them money compared to their current payment systems, gives them instant access to their money as cash settlement happens almost immediately, and access to all of their bank accounts in one place.
Businesses and sole traders can benefit from our quick and easy invoice solution. Invoices can be created within the app, with the option to give discounts and late penalties (pre-built into the app using gamification and behavioural science) and send nudges to remind customers and clients to pay. Plus, as you connect your bank account, payments are embedded within the app - so no need to give your bank details, and receive money owed instantly into your account.
Everyone can support their local communities thrive by paying their neighbourhood businesses in a cashless, hassle-free way.
In the meantime, don't forget to sign up for our developer portal!