Estimated reading time: 2 minute(s)
Last week, Reinsurance Group of America Inc (RGA), announced that its subsidiary, RGAx, LLC, is partnering with FinTech accelerator, SixThirty, on selecting FinTech startups that participate in the program.
“RGA has been a part of the St. Louis business landscape for more than 40 years, and we are proud to invest in our local community,” said Tim Rozar, chief executive officer of RGAx. “With St. Louis as one of the country’s largest financial hubs, and thanks to the investment and support from local groups like SixThirty, we are poised to climb the ranks of the most startup-friendly communities in the country.”
Headquartered in St. Louis with a presence in 26 countries, RGA is a FORTUNE 500 company that provides reinsurance and solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development and financial solutions.
As part of the partnership, RGA’s vice president of innovation for RGAx, Farron Blanc, will join SixThirty’s Investment Committee, helping to review and choose FinTech startups for upcoming cohorts.
“RGA’s open and inclusive attitude to innovation is refreshing”, said Atul Kamra, managing partner of SixThirty. “Their global perspective is a real value add to FinTech entrepreneurs, and we are delighted to welcome them to the SixThirty community.”
SixThirty invests in later seed-stage financial tech-based startups with working products. Previous cohort members include InvestmentPOD, Fluent Funds and New Constructs LLC. Each participating startup receives up to a $100,000 investment in exchange for negotiated equity, as well as mentorships and strategic connections to some of the top financial service companies in the the country. As one of a handful of accelerator programs based in St. Louis, SixThirty is helping to put St. Louis on the map for startups and investors alike.
A Mattermark analysis of funding showed St. Louis currently as the fasted growing startup city in the country, based on the number of investment rounds closed and total deal value produced.
“When our local entrepreneurs succeed, it creates a ripple effect,” says Rozar. “Strengthening the local talent pool, fueling economic growth and job creation, and generating innovative ideas from which we all can benefit.”