Startup accelerator gener8tor, Allianz Life Insurance Co. of North America and Securian Financial Group Inc. announced the sixth cohort for their Insurance & Wealth Accelerator (formerly the OnRamp Insurance Accelerator).
Founded in 2019, the gener8tor Insurance & Wealth Accelerator is a hybrid, three-month accelerator for high-growth insurance tech and fintech startups. Each of the startups selected will receive a $100,000 investment, office space in Minnesota's Twin Cities and access to gener8tor, Allianz Life and Securian Financial's global network of mentors and investors.
The program focuses on growth and scaling impact, along with building network connections to mentors, industry experts and investors.
The startups selected for the 2024 cohort include:
- FutureMoney, which developed an investing app designed for parents and is based in Boston.
- Multimodal, which created software that automates complex middle- and back-office workflows in financial services, such as underwriting, claims processing and loan origination. Based in New York, the company launched in mid-2023 and has over $1 million in annual recurring revenue.
- Sora Finance, which is an AI-driven debt management software for financial advisers that's based in San Francisco. Since launching in 2023, Sora has over $600,000 in annual recurring revenue and partnered with 500-plus advisory firms.
- OneEleven Financial Wellness, which developed a financial wellness app that's provided as a benefit for employees and university students. The company is based in New York.
- Waterlily, which is an AI-integrated eldercare financial planning startup based in San Francisco. Since launching in March 2024, Waterlily has deployed programs with Prudential and two other top 40 carriers.
Gener8tor is based in Madison; Allianz is in Golden Valley, Minnesota; and Securian is in St. Paul, Minnesota.
The Insurance & Wealth Accelerator program will host a showcase next summer at the gener8tor Insurance & Wealth Conference. It is currently accepting applications for the next cohort.
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