June 14, 2018

Paygilant advances in VentureClash '18

PHOTO | Steve Laschever
PHOTO | Steve Laschever
Connecticut Innovations CIO Dave Wurzer (left) and CEO Matt McCooe.

Paygilant, an Israeli startup that provides fraud protection for mobile payments, has advanced to the next round of Connecticut Innovations' $5 million VentureClash 2018 challenge.

Connecticut Innovations (CI), the state's quasi-public technology-development promoter, announced Thursday Paygilant's selection as the recipient of an early-decision award for the competition open to early-stage tech companies engaged in digital health, financial technology, insurance technology, and the Internet of Things.

The inaugural award allows four-year-old Paygilant to move directly to the semi-final round of the challenge, CI said.
"Our solution helps organizations control risk, minimize friction and reduce fraud with their mobile channels," Paygilant CEO Ziv Cohen said.

To be considered, candidates had to submit their first-round application by the April 15 early-decision deadline. Applicants also met all other criteria for the competition. The early-decision award winners also gain access to the second-round application weeks before all other applicants.

"This year, we launched the early-decision award to highlight a company that we identify early in the process to show real potential," said CI CEO Matt McCooe. "After taking a closer look at Paygilant, we're thrilled to have them in the competition, and we look forward to learning more about them throughout the process."

The applications deadline for the first round of VentureClash 2018, previously set for June 8, has been extended until June 22.

CLARIFICATION: An earlier post did not reflect the extended deadline for VentureClash 2018.

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