Sezzle wins $10,000 from Securian in MN Cup startup competition
Digital payment startup is first recipient of award for technology innovation shaping the future of financial services or life insurance
ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial Group has granted $10,000 to Sezzle, a Minneapolis-based digital payment startup company, as the first winner of a new award for innovation shaping the future of financial services or life insurance through technology. The Securian-sponsored award is part of MN Cup, an annual statewide startup competition organized by the Carlson School of Management at the University of Minnesota.
Sezzle is a next-generation payment platform that enables businesses to reduce payment processing costs and consumers to receive cash back rewards through digital bank-to-bank payments. Initially developed for online transactions, Securian believes Sezzle’s customer-centric design holds potential for any business with recurring customer payments, including life insurers and financial services companies.
“Securian is proud to support MN Cup in fostering innovation and supporting the growth of new, Minnesota-born business ideas,” said Siddharth Gandhi, Securian’s chief strategy and customer engagement officer. “Sezzle is a great example of how financial technology can improve customer experiences and deliver cost benefits and other value to businesses. We commend Sezzle for their innovation and congratulate them on being our first winner.”
“Sezzle is honored to be chosen by Securian as the most innovative company in the Minnesota Cup shaping the future of financial services,” said Charlie Youakim, Sezzle’s chief executive officer. “Securian has a long history of serving the Twin Cities community and of providing much-needed financial solutions to its customers. We hope to follow Securian’s example, by solving problems that exist within financial services today, and by giving back to the local community in the process.”
Sezzle and other startup companies were honored on Thursday, September 22, at the MN Cup Final Awards Reception, held at the McNamara Alumni Center on the University of Minnesota campus.
About Securian Financial Group
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, Securian is the holding company parent of a group of companies that offer a broad range of financial services.
Sezzle is creating a better way for consumers to pay businesses. Sezzle is leveraging new bank authentication technology to gather account information and complete bank-to-bank transactions instantly. Its payment platform allows businesses to simply and securely leverage Sezzle’s payment capabilities to accept digital debit payments, without the transaction fees and pain of accepting traditional card-based payments. Sezzle incentivizes consumers through an enticing cash back rewards program and mobile-based payment experience.
About MN Cup
MN Cup is the largest statewide startup competition in the country and a hub to connect Minnesota’s entrepreneurial ecosystem. Organized by the Carlson School of Management at the University of Minnesota, MN Cup aims to create jobs and grow Minnesota’s innovation footprint.
DOFU 09-2016 69473