Chimney Invited to Participate in Plug and Play’s Fintech Accelerator Program
Chimney selected for Plug and Play’s Fintech accelerator, joining the ranks of successful startups that participated in the program, including LendingClub, PayPal and more
NEW YORK, Nov. 7, 2022 – Chimney™, the first embedded finance platform that combines financial health data with property data to help homeowners get the most out of life’s biggest investment, has been selected for the fall cohort at the Plug and Play Fintech accelerator program. Matthew Covi, co-founder and CEO of Chimney, was also invited to speak at Plug and Play on Wednesday, Nov. 16 about using technology to engage homeowners and unlock home equity. Plug and Play is one of the largest global accelerator programs that connects entrepreneurs, the world’s largest corporations, and investors together to drive innovation forward.
Chimney was selected from a list of over 1,000 startups to participate in Plug and Play’s Fintech accelerator, a testament to the program’s ultra-competitive selection process. Since 2006, thousands of startups have participated in Plug and Play’s accelerator programs, including organizations with valuations of $1 billion or more, such as Dropbox, LendingClub, and PayPal. Plug and Play’s fintech ecosystem also consists of hundreds of industry-leading financial organizations, as well as hundreds of venture capital firms.
By participating in the program, Chimney will gain new opportunities to connect with decision-makers at top financial institutions, as well as network with the world’s most innovative fintech startups. Plug and Play’s fintech vertical specifically aims to re-think innovation in financial services by fast-tracking the innovation strategies for the world’s largest financial institutions.
“Plug and Play works with some of the most forward-thinking financial institutions and promising fintechs in the world, so the team at Chimney is proud to join this renowned accelerator program,” said Matthew Covi, co-founder and CEO of Chimney. “Chimney’s technology is already disrupting how consumers, especially homeowners, engage with financial institutions. By joining Plug and Play’s innovation ecosystem, Chimney will help more people live healthier financial lives while deepening relationships with their current financial institution.”
Chimney specializes in helping banks, credit unions, lenders and fintechs engage more customers and members with interactive digital tools, including Chimney’s award-winning financial calculators and its new homeownership platform. Chimney is the first company that combines financial health data with a homeowner’s property data to give homeowners actionable advice about their home value, home equity, borrowing power, and pre-qualified offers – directly embedded within online and mobile banking. Today, Chimney serves more than 70 financial institutions across 30 states, which include several top banks and credit unions by asset size, as well as some of the nation’s largest mortgage lenders. This rapid growth demonstrates consumers’ increased demands for tools and resources that are personalized to their buying journey.
“Chimney was selected for this year’s program based on the company’s unique mission, its go-to-market strategy, the strength of its product offerings, and the visionary leadership of its founders. Our corporate partners immediately saw the value in Chimney’s product suite and invited the team to join our Fintech accelerator program,” said Robbie Coon-Anda, Program Manager, Fintech and Crypto at Plug and Play. “Our goal at Plug and Play is to help industry disruptors, like Chimney, catalyze meaningful change and our accelerator program ensures these promising fintechs are well-equipped to make a positive impact in an increasingly competitive market, both now and in the future.”
Chimney is on a mission to help U.S. homeowners get the most out of life’s biggest investment: their home. With its embedded financial platform, Chimney gives homeowners the personalized guidance and insights they need, when they need it, to make smarter financial decisions. By leveraging open bank data, Chimney’s platform enables financial institutions to engage homeowners with proactive product recommendations and other embedded offers unique to each homeowner’s financial situation. Chimney’s homeownership platform is the latest addition to the company’s product suite, which includes its award-winning financial calculators. Winner of the FinovateSpring 2021 Best of Show, Chimney’s solutions are built for the digital age – designed to engage and win more customers, capture better customer data and move leads faster. That’s why the company is trusted by over 70 of the top financial institutions nationwide, including banks, credit unions and lenders.