Two Startup Acquisitions Within 30 Hours For Plug and Play FinTech

Vault Investment and Qumram participated at the Plug and Play accelerator program

News provided by

Nov 13, 2017, 10:00 ET

SUNNYVALE, Calif., Nov. 13, 2017 /PRNewswire/ -- Within 30 hours, two of Plug and Play FinTech's batch startups were acquired: Vault by Acorns and Qumram by Dynatrace.

Vault, a developer of retirement fund investment services, was acquired by Acorns, a micro-investment service that automatically invests small amounts from its customers' bank accounts into investment funds. Vault was previously a batch startup of Plug and Play that went through the 12-week accelerator program in Sunnyvale, California.

"I moved down to California from Portland for the duration of the Plug and Play program and it was priceless. We built a very strong network, in addition to generating two strong leads from top U.S. banks," said Randy Fernando, co-founder and CEO of Vault. "Plug and Play also facilitated speaking engagements at the likes of TechCrunch Disrupt, which gave me even more exposure. There was a lot of momentum that came from the Plug and Play program."

Qumram, a startup that captures 100% of all digital interactions on client sites, is one of the most recent graduates from the Plug and Play FinTech accelerator program and generated two POCs from world leading banks. "The journey has been fantastic; the amount of contacts and opportunities we were able to get was really great," said Mathias Wegmueller, co-founder of Qumram. "Plug and Play gave us the confidence to partner with the right customers that showed we have a valuable product."

"We are so excited for both the Vault and Qumram teams in their respective acquisitions over the past couple of days," said Scott Robinson, founder and VP of Plug and Play FinTech. "These teams hustled day in and day out while they participated in our program and we are very lucky to have shared a chapter in their journey." Plug and Play FinTech positions startups for success by connecting them to leading financial institutions.

"When startups join Plug and Play, it's not a marketing activity - it's real work and you should have a person fully dedicated to the 12-week program because then you'll get great value out of it," said Mathias Wegmueller, co-founder of Qumram.

To learn more about Plug and Play FinTech's accelerator program, please visit www.plugandplaytechcenter.com/corporations/fintech/ or contact Ashlene Ramadan at [email protected].

About Plug and Play
Plug and Play is a global innovation platform. We connect startups to corporations and invest in over 150 companies every year. Since inception in 2006, our programs have expanded worldwide to include a presence in 22 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 180 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 365 networking events per year. Companies in our community have raised over $6 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com

SOURCE Plug and Play