We saw a little bit of everything last week here in North Texas. New startups are launching, existing startups are expanding, and all of it means big growth for the Dallas-Fort Worth tech scene. Keep on reading to learn more. This is the Built In Dallas weekly refresh.
A new fintech startup has emerged from stealth. Dubbed the “Shopify of banking,” Deposits.com is on a mission to bring financial literacy and wellness tools to its customers. Its launch was made possible thanks to its recent partnership with MX, a financial data startup out of Utah that recently raised $300 million. The deal will allow Deposits.com to offer “financial enrichment” tools to its community bank and credit union customers, which means clients can quickly launch their own financial products that are compliant and capable of competing with larger financial institutions. The startup was co-founded by Joseph Akintolayo, a veteran in the DFW fintech scene, and is already on its way to a seed round, which will mainly be used to grow its team. [Dallas Innovates]
ACCELQ is doubling down in Dallas. The software testing automation startup is coming off a year of massive growth. In 2021 it released the 5.0 version of its product, which included features like ACCELQ Mobile, Virtualization and ACCELQ Cloud Labs; it also plans to release ACCELQ Live soon. To keep up, ACCELQ wants to double its 120-person team, which means doubling its Dallas office space by 2023. The company says it will hire about 50 new people here over the next six to eight quarters, focusing mainly on sales and customer success roles. [Built In Dallas]
DFW Tech Quote of the Week
Techstars is bringing a new accelerator to Fort Worth. Although this is Techstars’ first accelerator in the DFW area, the organization has had a presence in Texas for nearly a decade, and has invested more than $1 billion in the state’s tech scene. The new 13-week-long program will focus on physical health tech innovation, allowing 10 early-stage companies to build new solutions related to areas like rehabilitation, physical therapy, performance and exercise. Participants will also receive mentorship, entrepreneurial content, access to Techstars’ vast network of business professionals and up to $120,000 in funding. Applications for the new accelerator will be accepted through May 11, and the program is expected to begin September 12. [Built In Dallas]
MyTelemedicine is now Lyric Health. The seven-year-old telehealth startup is based in McKinney, and currently serves a network of about 750 physicians, psychologists, psychiatrists and dermatologists. Now, it has rebranded its service arm to Lyric Health in an effort to better serve patients and clinicians, providing them with fully integrated tools to help with everything from diagnosis to treatment. MyTelemedicine will remain the name for the technology stack that powers Lyric Health. The company also has plans to create at least 40 new tech and executive jobs here in the Dallas region over the next three years thanks to a grant from the McKinney Economic Development Corp.’s Innovation Fund. [North Texas Inno]