Allevo keyonte at InnovX BCR Day

Allevo exhibited at InnovX BCR Day on February 27th 2020. Ioana Guiman also had a keynote at noon, presenting the main result of the TOSS project, FinTPc, and how it helps SMEs achieve operational efficiency and better financial management. We also touched base on our experience as part of BCR-InnovX accelerator for scale-ups and how this helped Allevo set its growth strategy.

Here’s a recording of the talk:

Magurele Science Park was kind enough to do an inteview with Allevo – in Romanian. Please find it here.

 

Allevo, a success story.

On Feb 24th 2020, Allevo pitched to the board of Banca Comerciala Romana (member of Erste Group). Please find full coverage and the actual footage on our blog.

 

Allevo at BCR

InnovX managed to book one hour of the board of BCR’s time to sit listen to pitches of all 5 scale-ups. The format was a 60″ elevator pitch, in an actual elevator, a 60″ Q&A to the meeting room and 5′ Q&A with the board.

This below is our part, the complete footage is available on BCR’s Facebook page, under videos.

Caption for the pitch:

I am Ioana Guiman, one of the managing partners at Allevo. We are the plumbers of next generation corporate banking infrastructure.

As part of a project co-financed by the European Union, Allevo developed FinTPc. This application automates the processing of financial transactions.

Features include payment initiation and reconciliation between invoices and bank statements. We make use of the open banking setup to automate the communication between banks and corporates.

Allevo proposes a business model where banks distribute FinTPc to mid-sized companies.

This helps companies operate more efficiently and succeed with better financial management. Similar to larger corporates.

So, help me find these banks and their customers.

Today was one of the most amazing days of recent history: we pitched TO THE BOARD OF BCR ! Watch the live transmission here – Ioana Guiman and Mihai Guiman starting at min 46′.

Thank you InnovX, Diana Dumitrescu and Dani Dumitrescu for helping us go through the program and become InnovX alumni in style, in front of the wonderful people at Banca Comerciala Romana (Erste Group).

And kudos to Sorina Bera for being there and fully supporting this initiative through all its ups and downs!

Last, but in no way least, big fat thank you to our wonderful team who helps us go through our daily challenges and helps us succeed! This is very much their success.

 

Suntem LIVE de la Elevator Pitch! Urmareste prezentarile antreprenorilor din grupa scale-ups a Acceleratorului BCR-InnovX!

Suntem LIVE de la Elevator Pitch! Urmareste prezentarile antreprenorilor din grupa scale-ups a Acceleratorului BCR-InnovX!

Posted by BCR on Monday, 24 February 2020

 

InnovX Accelerator

Last week, Start-up.ro was there in Redwood City for Startup Grind Global Conference 2020 and was kind enough to shoot this interview with Ioana Guiman. Please see the interview and article, in Romanian, on their website.

 

Excerpt in English below:

I am Ioana Guiman, one of the partners of Allevo. Allevo is a startup with 20 years of experience, who started by connecting banks to the electronic payments system and by automating financial processes of banks. Then after, we started doing the same thing for corporate treasuries and for companies.

What does Allevo do?

We try to solve one of the issues small companies are confronted with, and Allevo is one of these, around financial processes. The complexity of a business generates very many custom processes. Most of the times, these processes are not automated, they are manual, generate errors and are very time consuming. We basically offer small companies the experience larger corporates have with their financial processes.

What types of customers does Allevo have?

We are happy to account within our customers the biggest banks in Romania. Recent projects of the past year include the project done with Banca Comerciala Romana (n.r. member of Erste Group), with whom we implemented the Instant Payments project. We offered our FinTP-Instant solution, which helped them connect to the Instant Payments service offered by TransFonD and offered their customers instant payments. Other projects we want to implement in the upcoming period are the finalization of a grant that is under implementation. This is the TOSS project, part of which we developed the FinTPc application, which automates financial flows for corporate treasuries and for SMEs. We also won a grant lead by Innovation Norway, which will help us build an application that offers financial services “as a service” to SMEs. And I am very enthused, because this is a beautiful sequel to the TOSS project, which will help manage companies in a different way.

Why did you come to Startup Grind in Silicon Valley?

We came with lots of expectations at Startup Grind. This is a new market for us, it is a very different environment. We came over to create visibility for our company and to conclude partnerships to help us grow. We want to grow. To grow even beyond Europe, where we enjoy good visibility in the banking space, but we want to grow beyond this region.

In which countries are Allevo customers based?

Most of our customers are based in Romania and in Moldova, due to similarities between the two countries. We do have customers in the Netherlands, Kenya and Uganda. Is is easy for us to serve any bank or company based in the European Union, because the legislation, even if not identical, is similar, so the regulation is similar across the EU. We can therefore implement and replicate the processes we automate. Attention, we do not do a robotic type of process automation, which copies the actions of a user without fixing the process and without interpreting what happens beyond the click. We do a semantic automation, which can lead to a standardization of processes.

Why would corporates want to work with startups?

I think we are in the privileged situation where we already have a pool of banking customers, who face a high level of regulation. The requirements are heavy. In the corporate environment, these requirements are more relaxed and offer more flexibility. Corporates are more agile and flexible than banks. And smaller companies are even more agile. The smaller the company, the faster it moves, with the speed of a startup. This is something we also try to do, including with our banking customers. We are the small ones that always push our customers to do, to implement, faster, better.

Why does an 20 year old company get to be part of an acceleration program?

InnovX has been an amazing experience. We initially applied without knowing too much about the program and we viewed it as a learning experience. One of the main questions we got from partners, customers is why would a company that is 20 years old need an acceleration program? Why would you go to a bootcamp? We said that this back to school experience helps us get out of the office, it helps us develop within our own company and allows us to use this accelerator as a sandbox to experiment and create new products. It is very difficult to innovate as long as you manage business as usual. For us, InnovX and the fact that we were kept captive 2 days a week for 3 months at Mindspace was an amazing experience. We had access to a set of very well prepared mentors, a lot of doors have been opened, we met new people – mentors, customers, consultants. I think this is a very good program and it shows that it is done with passion and dedication.

 

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The TOSS – Treasure Open Source Software project is co-financed by the European Regional Development Fund under the Competitiveness Operational Programme 2014-2020, Priority Axis 2 “Information and Communications Technology (ICT) for a competitive digital economy”.

Pentru informatii detaliate despre celelalte programe cofinantate de Uniunea Europeana, va invitam sa vizitati www.fonduri-ue.ro. Continutul acestui material nu reprezinta in mod obligatoriu pozitia oficiala a Uniunii Europene sau a Guvernului Romaniei. Proiect finantat in cadrul POC, Axa prioritara 2, Acțiunea 2.1, Prioritate de investitii 2b. Cod MySMIS: 115724, Nr. Contract Finantare: 101/16.08.2017.

 

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With the support of a grant from Iceland, Liechtenstein and Norway through the EEA and Norwegian Financial Mechanisms 2014-2021, in the frame of the Programme “SMEs Growth Romania”, Allevo kicks-off Thursday, 23 January 2020, the Whizzer project, as per the 2018/115906 contract.

You may well remember Allevo has been talking about being part of the BCR-InnovX business accelerator program for scale-ups. The program ends in style with an elevator pitch in front of the extended board of BCR and Erste Bank. But that happens next week, on Feb 24th. Stay tuned for more!

Feb 11-12th, Allevo participated at Startup Grind Global Conference. InnovX facilitated a stand in the Google for Startups tent and a 1′ pitch in front of the startup and investor community! What a show!

This was an amazing experience. Please find below one of the first stories that covers the event, along with a shoot of the on-stage pitch (apologies for the sound, maybe we’ll have better quality in a bit).

This is a call for partnering with banks to better serve their corporate customers, especially small and medium sized ones. The application I mention is FinTPc, the main result of the TOSS project, a project co-financed by the European Regional Development Fund under the Competitiveness Operational Programme 2014-2020, Priority Axis 2 “Information and Communications Technology (ICT) for a competitive digital economy”.

Outline below:

I am Ioana Guiman, one of the managing geeks at Allevo. We are the plumbers of next generation corporate banking infrastructure. So I figured I might also be dressed as one.

As part of a project co-financed by the European Union, Allevo developed FinTPc. This application automates processing of financial transactions.

Features include payment initiation and reconciliation between invoices and bank statements. We make use of the open banking setup to automate communication between banks and corporates.

Allevo proposes a business model where banks distribute FinTPc to mid-sized companies.

This helps companies operate more efficiently and succeed with better financial management. Similar to larger corporates.

So help me find these banks and their customers.

Startup Grind - InnovX

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