Income& Presents PRIMOTM as Finalists of the High-Profile PitchIt Competition @ LendIt USA 2016

SAN FRANCISCO, CA – Income&, a marketplace investment platform based in San Francisco, presented as finalists at the high-profile PitchIt @ LendIt USA 2016 that took place on April 11-12 in San Francisco, CA. After over 90 companies entered for the chance to present at the competition, Income& was one of just eight to be selected as a finalist.

LendIt, the largest conference series in the industry, opened its doors to over 3,500 attendees including investors, businesses and service providers from over 20 countries to LendIt USA 2016 to meet, network and do business. PitchIt provides a stage for startups in the lending space to showcase their products and services in front of a live audience and an elite panel of judges on the conference’s main stage. The 2016 panel included: Frank Rotman, QED Investors; David Weiden, Khosla Ventures; Nick Shalek, Ribbit Capital; and Chris Bishko, Omidyar Technology Ventures.

Led by CEO Brad Walker and a team of accomplished financial services and technology veterans, Income& is the innovator behind the PRIMOTM or Prime-Rated Individual Mortgage-backed Obligation, a low-risk, superior-yielding fixed income product backed by high-quality, prime-rated mortgages. Unlike traditional fixed-income options, PRIMOs™ seek yields of 6% or better and a level of transparency and customization that has never before existed.

Using Income&’s next-generation platform, a portfolio of PRIMOs™ can be selected in one simple click or customized based on preferences for geography, risk, or desired yield. With the invention of the PRIMO™, Registered Investment Advisors (RIAs) and accredited investors will have access to something previously available only to hedge funds and investment banks.

In December 2015, Income& announced its success in raising $2.9 million in combined seed funding and capital committed to support company operations. In March 2016, Income& made the final round in SXSW’s marquee startup competition in the Payment and FinTech category.

Each PitchIt finalist was matched with a mentor to advise the company in preparing their presentation, refining their pitch and providing ongoing support. Michael Gilroy, an Early Stage Venture Investor at Canaan Partners, a prestigious global venture capital firm, chose to mentor Income&.

Speaking at the conference, Michael Gilroy said, “At Canaan Partners, we closely follow trends in marketplace lending and investing. Remarkably, the retail space is currently a massively untapped capital source. At LendIt, Income& presented an exciting fixed income product focused on this channel. I was excited to come on board as their mentor.”

“Investors measure the quality of early-stage startups by the strength of their team and the Income& team is a real differentiator,” Gilroy added.

Income& CEO Brad Walker said, “As an online investment marketplace, it is an honor for Income& to present at PitchIt @ LendIt, the highest-profile event for a startup in this space. With ten thousand baby boomers turning 65 every day, millions of Americans are desperate for the safety of a low-risk, fixed-income product with superior returns. By presenting at this extraordinary event, our solution to this growing need was recognized.”

“We would like to thank LendIt for the incredible opportunity to present our breakthrough financial product and platform to the esteemed panel of judges, and all of our industry peers.” Walker added.

PitchIt @ LendIt was open to all high-growth startups developing lending-related innovation, founded between 2014 and 2016.

Commenting on the competition, Chair of PitchIt @ LendIt 2016, Kiran Lingam said: “This year we received over 90 really impressive applications, making it particularly challenging for the judges to narrow it down to the final eight.

“Income’s model immediately stood out. We were delighted to have them as a finalist at PitchIt 2016 and I am excited to watch the launch of their compelling product,” Lingam added.

Author: Dylan Jones

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