Gig economy fintech Trezeo wins NDRC’s autumn 2017 Investor Day

24 Oct 2017

From left: Garrett Cassidy, CEO of Trezeo; Flavien Charlon, CTO at Trezeo; Ben Hurley, CEO at NDRC; and David Tighe, head of enterprise and innovation, BOI. Image: Shane O’Neill/SON Photographic

This feisty fintech has what it takes to stabilise the gig economy world.

11 start-ups took to the field, but one emerged victorious.

Trezeo, a fintech digital start-up that could make a world of difference for gig economy workers, was named overall winner at the NDRC Investor Day for autumn 2017. The company will now receive €30,000 in follow-on investment from NDRC.

‘Trezeo has an outstanding solution and stood out to all of the judges as having serious potential for growth in international markets’

Trezeo, led by CEO Garrett Cassidy and CTO Flavien Charlon, has developed a platform that provides financial stability for self-employed workers in the gig economy by turning unpredictable income streams into reliable and regular payments, with no interest or hidden fees involved. Subscribers pay a subscription fee for the service.

The company is launching a pilot in the UK in November and is raising funding to launch its full product in 2019. Trezeo recently won the Payments Dragons’ Den competition at PayExpo Europe in London.

“Trezeo has an outstanding solution and stood out to all of the judges as having serious potential for growth in international markets,” said Ben Hurley, CEO of NDRC.

“This finishing investment will be coupled with intense supports from NDRC in areas, including investor relations both here and abroad, helping to build the business further.

“Overall, the pipeline of emerging indigenous tech companies remains strong, and investor interest is high in NDRC companies, which is a key metric for us.”

Latest cohort exhibits diverse ideas, real solutions and domain expertise

The audience vote went to Izzy Wheels, a start-up led by sisters Ailbhe and Izzy Keane, which provides a collection of stylish wheel covers for wheelchairs, transforming a medical device into a piece of fashion and self-expression.

The nine other companies were: EquiRatings, DwellDown, Medit, Horus, Stride, TravaPlan, Sroomm, Melosity and Profile 90.

As well as Hurley, the judges for the latest NDRC Investor Day, which is run in partnership with sponsor Bank of Ireland (BOI), were: Nicola McClafferty, Draper Esprit; Steve Collins, Frontline Ventures; and David Bowles, Delta Partners.

Gary Leyden, NDRC’s commercial director, commended the various start-ups on the fact that so many of them had already established commercial traction and had taken the approach of having a solution to real-world problems rather than just ideas.

“It was a diverse cohort that also demonstrated deep domain expertise,” he said.

David Tighe, head of enterprise and innovation at BOI, said: “Today is further evidence of the exciting talent that is present in the Irish tech start-up ecosystem, and supporting early-stage entrepreneurs in Ireland is pivotal to supporting business growth.”

To date, NDRC companies have generated more than 1,600 jobs directly and indirectly worldwide, with 1,350 of those based here in Ireland. 34 NDRC start-ups have also opened operations outside of Ireland.

NDRC’s portfolio of companies includes Tandem, SilverCloud Health, NewsWhip, Boxever and Nuritas.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years