Helsinki Fintech Farm has been awarding domestic fintech companies to highlight and credit the groundbreaking work in the local fintech industry since 2018.
The winner of the year 2023’s award was selected at the finals, hosted by Siili Solutions, on January 25th.
The competition was intense, with five finalists – Enable Banking, iconicchain, Narvi, Sortter, and Ukko.fi – each delivering a compelling 5-minute pitch to a jury of esteemed industry professionals:
Mikko Ayub, Board Professional and seasoned banking executive
Harry Brade, Investor and Board Professional
Juha Volotinen, CIO at Municipality Finance
The jury was paying especially attention to the following aspects:
MISSION – How is the company reshaping the financial industry?
SCALABILITY – What’s the current growth rate and potential of the company?
IMPACT – What’s the impact of the company on society and the environment?
This year’s competition was particularly challenging due to the distinct and high-caliber nature of each finalist. Every company excelled in its own unique area, making them difficult to compare.
After the pitches, the jury faced the difficult task of deciding the winner. After much deliberation, the jury decided to focus on three candidates, Enable Banking, iconicchain, and Narvi, as the other two finalists – Sortter and Ukko.fi are more established and extremely successful in their respective markets.
Ultimately, iconicchain emerged as the winner. This AI-powered solution for automating regulated processes in the financial sector was recognized for its strong growth potential and existing impact in Central and Eastern Europe, with ambitions to expand into the US market in the coming years.
”The choice was not easy as all finalists were very interesting and well pitched. However, Iconicchain’s promise to bring automation to regulated processes is touching one of the very core challenges of the industry, we felt,” commented Mikko Ayub from the jury.
iconicchain at a glance:
Solution: AI-powered Automation of Securities Life-cycle
Employee count: 30
Total funding: 1.1M€
Latest round: 1M€ (2021)
Revenue 22: 1.3M€
Revenue growth 21-22: 95%
Profit 22: -269K€