We are excited to announce that we've joined the U.S. class 2021-2 of the German Accelerator program! The program, run by the German Federal Ministry for Economic Affairs and Energy (BMWi), helps German-based startups enter new markets, in particular the U.S. We've been selected from many applicants and are joining an exclusive group of 9 startups who are also launching in North America.
We are very excited to be welcomed into this prestigious program, whose portfolio companies have raised more than $4.9 billion to date. We want to bring innovation to the Trade Finance space in the U.S. (fueled by our $60m facility from Silicon Valley Bank) and are glad to get a helping hand from those who have done it so successfully in the past.
German Accelerator provides high growth startups (like MODIFI!) with advice and support to help them reach their full potential when entering a new market. With a wealth of experience and connections, they help startups navigate local ecosystems, set priorities and reach goals. For us, the opportunity comes not only from the unique knowledge base but also the strong global network that can help us enter the new market. We hope that through the workshops and initiatives we can add rocket fuel to our U.S. venture.