Revolut Pulls in $4.8 Million

Screen Shot 2016-02-05 at 6.06.43 PM

London-based Revolut launched in 2014 under the premise that people should not be charged for spending and transferring their own money in a different currency. This week, the startup closed a $4.8 million round of funding.

The round was led by Balderton Capital. Index Ventures, Point Nine Capital, Seedcamp, and Venrex Investment Management also contributed.

Combined with the startup’s previous investments, this round brings its total funding to $7.6 million.

In January Revolut launched version 2.0 of its personal money cloud. Its redesigned app is focused on offering transparency while maintaining an intuitive user experience.

The company’s CEO & founder Nikolay Storonsky, and CTO Vlad Yatsenko debuted Revolut at FinovateEurope 2015 in London.

Fintech Fundings: 21 Companies Raise $260 Million Week Ending Feb 5

money_treePrivate capital continued to flow into the fintech sector this week with 21 companies raising $257 million. The total included at least $85 million in debt. One Finovate alum raised new cash; London’s Revolut brought in $4.8 million for its global funds transfer app.

Just five weeks into the new year, fintech companies have raised $4.25 billion in equity and debt worldwide, more than three times the $1.3 billion in the same period last year. And the number of deals is up 70% (125 compared to 74 in 2015).

Here are the fintech deals by size from 30 Jan to 5 Feb 2016:

Credibly 
Small business alt-lender 
Latest round: $70 million Debt
Total raised: $70 million
HQ: Troy, Michigan
Tags: SMB, small biz loans, credit, lending, commercial lending, capital
Source: Crunchbase

Blockstream
Sidechain technology
Latest round: $55 million Series A
Total raised: $76 million
HQ: Montreal, Quebec, Canada
Tags:SMB, consumer, enterprise, blockchain, cryptocurrency, security, ledger, bitcoin
Source: Crunchbase

Spotcap
Alt-lender for small businesses (Rocket Internet)
Latest round: $35 million Series B
Total raised: $56.1 million
HQ: Berlin, Germany
Tags: SMB, credit, underwriting, loans, lending, peer-to-peer, marketplace
Source: Crunchbase

Lamudi
Real estate platform for emerging markets
Latest round: $31.4 million
Total raised: $56.4 million
HQ: Berlin, Germany
Tags: Consumer, mortgage, home buying, property search, investing
Source: Crunchbase

Sonovate
Contract financing and management services for professional recruitment firms
Latest round: $16.5 million Debt
Total raised: $22 million (includes $16.5 million debt)
HQ: London, England, UK
Tags: SMB, credit, receivables financing, management
Source: Crunchbase

Digital Asset
Distributed ledger technology for financial services
Latest round: $10 million
Total raised: $60 million
HQ: New York City
Tags: Enterprise, blockchain, bitcoin, crypto-currency, database, securities trading, custody
FI investors: JP Morgan, BNP Paribas, ABN AMRO, Santander, PNC, Citigroup, Goldman Sachs
Source: Crunchbase

Receipt Bank
Receipt extraction technology
Latest round: $10 million
Total raised: $10 million
HQ: London, England, UK
Tags: Consumer, SMB, accounting, personal financial management, PFM, spending, payments
Source: Crunchbase

Simplex
Credit card acquiring for bitcoin exchanges & wallets
Latest round: $7 million Series A
Total raised: $8 million
HQ: Israel
Tags: B2B, SMB, payments, security, acquiring, credit/debit cards
Source: Coindesk, Crunchbase

Bitcoin Group
Blockchain technology
Latest round: $4.9 million IPO
Total raised: Unknown
HQ: Victoria, Australia
Tags: Consumer, SMB, blockchain, bitcoin, crypto-currency, mining
Source: FT Partners

Revolut
Global person-to-person payments app
Latest round: $4.8 million
Total raised: $7.6 million
HQ: London, England, UK
Tags: Consumer, payments, P2P, remittances, fx, peer-to-peer, mobile, Finovate alum
Source: Crunchbase

OOO Fit (PayQR)
Mobile payments
Latest round: $3.9 million Seed
Total raised: $5.4 million
HQ: Moscow, Russia
Tags: Consumer, payments, mobile, QR codes
Source: Crunchbase

Quantescent
Trading tools
Latest round: $3.5 million Angel
Total raised: $3.5 million
HQ: Saint Helena, California
Tags: Consumer, traders, advisors, investing, stock trading
Source: Crunchbase

Thumzap
Mobile payments for teens
Latest round: $3 million Seed
Total raised: $3 million
HQ: Wilmington, Deleware
Tags: Consumer, parental controls, payments, mobile, youth market
Source: Crunchbase

Instant Financial
Real-time payroll platform 
Latest round: $1.2 million Seed
Total raised: $1.2 million
HQ: Vancouver, British Columbia, Canada
Tags: Consumer, employer, SMB, human resources, payments, benefits
Source: Crunchbase

Property Moose
Real estate crowdfunding platform
Latest round: $630,000
Total raised: $1.5 million
HQ: London, England, UK
Tags: Consumer, credit, mortgage, underwriting, loans, lending, peer-to-peer, marketplace, crowdfunding, property
Source: Crunchbase

DisputeBills
Consumer healthcare bill & debt management
Latest round: $400,000 Seed
Total raised: $400,000
HQ: Chicago, Illinois
Tags: Consumer, credit, healthcare, debt management, bills, billpay, health insurance
Source: Crunchbase

Birch
Personal finance tool for maximizing credit card rewards
Latest round: $100,000 Seed
Total raised: $100,000
HQ: Gainesville, Florida
Tags: Consumer, spending, personal financial management, PFM, rewards, loyalty
Source: Crunchbase

Moneytis
Money transfer comparison site
Latest round: $55,000
Total raised: $55,000
HQ: San Francisco, California
Tags: Consumer, remittances, P2P transfers, fx, person-to-person
Source: Crunchbase

Invertions Plus
Investment tools
Latest round: $10,000 Seed
Total raised: $10,000
HQ: Spain
Tags: Consumer, advisors, investing, trading
Source: Crunchbase

Kraken
Bitcoin exchange
Latest round: Undisclosed Series B
Total raised: $5 million (prior to the Series B)
HQ: Emeryville, California
Tags: Consumer, SMB, blockchain, bitcoin, crypto-currency, payments
Source: FT Partners

Skuchain
Distributed ledger technology
Latest round: Not disclosed
Total raised: Unknown
HQ: Mountain View, California
Tags: SMB, consumer, enterprise, blockchain, cryptocurrency, security, ledger, trade finance
Source: Crunchbase

—–
Image licensed from 123rf.com

Advisor Software Launches Robo-Advisor Platform, ASI Digital Advisor

ASI_Digital_Adviso_homepage_Feb2016

Advisor Software introduced its new, white-label, robo-advisor platform, ASI Digital Advisor, this week. The technology, announced at the TD Ameritrade National LINC conference in Florida, makes it easier for wealth managers and financial advisors to begin providing their clients with automated digital investment advice.

“By building our application in a modular fashion using APIs,” explained company VP of Product Management Kevin Kraus, “we were able to develop a digital advice solution that is the most flexible and scalable on the market today.”

AdvisorSoftware_FinDEVrSF2015_stage

Pictured: Advisor Software VP of Product Management Kevin Kraus and VP of Engineering Archana Rao demonstrating their Wealth Management Cloud at FinDEVr San Francisco 2015.

ASI Digital Advisor gives wealth managers the ability to generate model portfolios, build risk- and goal-based portfolios, and automate processes such as client onboarding and rebalancing – all with a responsive design to a state-of-the-art user experience.

Chairman and CEO of Advisor Software, Andrew Rudd said that the new technology was a standard-setter in terms of “usability, scalability, and flexibility in the digital advice space.”

“Competitive platforms often ask advisors to make too many compromises,” Rudd said. “With our solution, advisors can easily modernize the user experience for their clients without having to alter the way they do business.”

Advisor Software’s new solution arrives just a few weeks after the company announced major hires at the position of Chief Technology Officer and Vice President of Sales. David Cooper, a former senior executive at Fiserv and Greendot, will take the helm as CTO, and Tom Flint, co-founder of Tiburon Wealth Management, will become Advisor Software’s next VP of Sales.

Founded in June 1995 and headquartered in Walnut Creek, California, Advisor Software demonstrated its Wealth Management Cloud platform at FinovateFall 2015. In its FinDEVr debut a month later, Advisor Software showed how the more than 100 APIs on its platform help developers build and deploy a wide variety of wealth management apps.

Finovate Alumni News

Around the web:

  • Blackhawk Network acquires NimbleCommerce, a digital commerce platform and network.
  • Wipro wins seven-year, IT infrastructure contract with international insurer, RSA.
  • Visa unveils its new Visa Developer Program, giving developers API-based access to many of Visa’s payment technologies.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Fintech Fundings: 29 Companies Raise $350 Million Week Ending Jan 29; Full Month Tops $4 Billion

Money_circuitFor the third time in that past four weeks a fintech funding record has fallen. This week it was number of companies, beating the total funded two weeks ago by one. As you may recall, last week we set the new mark (by a large margin) for the highest weekly dollar total with $2.7 billion.

All told, last week 29 fintech companies worldwide brought in $352 million including Finovate alum, PinDrop Security, which added $75 million for its voice biometrics tools to fight fraud.

In January, fintech companies raised $4 billion in equity and debt worldwide, almost four times the $780 million raised during January 2015. And the number of deals is up 70% (104 compared to 61 in 2015).

Here are the fintech deals by size from 23 Jan to 29 Jan 2016:

Nexara Holdings
Mortgage startup with two brands: NewFI & Bluestream Lending
Latest round: $100 million Series
Total raised: $100 million
HQ: Emeryville, California
Tags: Consumer, credit, mortgage, underwriting
Source: Crunchbase

Pindrop Security
Anti-fraud technology for financial institutions and others
Latest round: $75 million Series C
Total raised: $122 million
HQ: Atlanta, Georgia
Tags: Enterprise, SMB, fraud, voice biometrics, security, Finovate alum
Source: Finovate

Cadre
Real estate investing platform
Latest round: $50 million Series B
Total raised: $68.3 million
HQ: New York City
Tags: Consumer, advisors, real estate, mortgage, investing, wealth management
Source: FT Partners

Bayut
UAE real estate portal
Latest round: $20 million Series C
Total raised: $29 Million
HQ: Dubai, UAE
Tags: Consumer, home buying, renting, mortgage, real estate
Source: Crunchbase

College Ave Student Loans
Student loan lender
Latest round: $20 million
Total raised: $40 million
HQ: Milwaukee, Wisconsin
Tags: Consumer, credit, youth market, underwriting, lending, loans, FirstTrust Bank (loan originator)
Source: Crunchbase

The Zebra
Car insurance price comparison
Latest round: $17 million Series A
Total raised: $23.03 million
HQ: Austin, Texas
Tags: Consumer, insurance, automobile insurance, price comparison, lead gen, discovery, quotes
Source: Crunchbase

PitchBook
Investment information
Latest round: $10 million Series B
Total raised: Unkown
HQ: Seattle, Washington
Tags: SMB, advisors, enterprise, investing, trading, wealth management
Source: FT Partners

Sprinklebit
Social investing platform
Latest round: $10 million Series A
Total raised: $13.7 million
HQ: New York City
Tags: Consumer, investing, trading, social media
Source: Crunchbase

Sonovate
Contract financing and management services for professional recruitment firms
Latest round: $7.1 Million Series
Total raised: Unknown
HQ: London, England, UK
Tags: SMB, credit, receivables financing, management
Source: FT Partners

Bench
Online bookkeeping service
Latest round: $6.75 million Series
Total raised: $23.5 Million
HQ: Vancouver, British Columbia, Canada
Tags: SMB, bookkeeping, accounting, invoicing
Source: Crunchbase

Wave Accounting
Online accounting & invoicing
Latest round: $6.3 million
Total raised: $6.3 million
HQ: Toronto, Ontario, Canada
Tags: SMB, bookkeeping, accounting, invoicing
Source: Crunchbase

Cumulus Funding
Consumer alt-lender
Latest round: $5.9 million Series
Total raised: $6.75 million
HQ: Chicago, Illinois
Tags: Consumer, credit, underwriting, loans, lending
Source: FT Partners

Kurtosys
Client reporting and information management for financial services
Latest round: $5.2 million Series
Total raised: $25.6 million
HQ: London, England, UK
Tags: Enterprise, advisors, wealth management, hosting
Source: FT Partners

Smartika
Social lending platform
Latest round: $4.9 million
Total raised: $4.9 million
HQ: Milan, Italy
Tags: Consumer, credit, person-to-person, marketplace lender, underwriting, investing
Source: Crunchbase

Vestorly
Content management for financial services
Latest round: $4.1 million Series A
Total raised: $4.1 million
HQ: New York City
Tags: Enterprise, content, investing
Source: FT Partners

Dopay
Electronic payroll system 
Latest round: $2.4 million Series A
Total raised: $8.0 million
HQ: London, England, UK
Tags: B2B2C, SMB, payments, payroll, human resources, underbanked, unbanked, Barclays Accelerator
Source: Crunchbase

Insurify
Car insurance comparison site
Latest round: $2 million Seed
Total raised: $2 million
HQ: Cambridge, Massachusetts
Tags: Consumer, insurance, automobile, car insurance, lead gen, price comparison, discovery
Source: Crunchbase

ClaimKit
Insurance claim management
Latest round: $1.8 million
Total raised: $2.36 million
HQ: Overland Park, Kansas
Tags: Enterprise, insurance claim processing
Source: FT Partners

AlgoMerchant
Investment portal
Latest round: $1.3 million Seed
Total raised: $1.3 million
HQ: Singapore
Tags: Consumer, investing, lead gen, wealth management, discovery, advisors
Source: Crunchbase

Jewel Paymentech 
Risk management for payment acquirers 
Latest round: $1 million
Total raised: $1 million
HQ: Singapore
Tags: SMB, enterprise, security, fraud management, acquirers, merchants, payments
Source: Crunchbase

YoPay
Digital payments
Latest round: $550,000 Seed
Total raised: 550,000
HQ: New York City
Tags: SMB, merchants, credit/debit card acquiring, payments
Source: Crunchbase

bitFlyer
Japanese bitcoin exchange
Latest round: $420,000
Total raised: $7.36 million
HQ: Japan
Tags: Consumer, SMB, bitcoin, cryptocurrency, virtual currency, blockchain
Source: Crunchbase

SatoshiPay
Bitcoin nanopayments
Latest round: $390,000
Total raised: $630,000
HQ: London, England, UK
Tags: Consumer, payments, micro-payments, content, virtual currency
Source: Crunchbase

Billecta
Online invoicing 
Latest round: $140,000
Total raised: $140,000
HQ: Sweden
Tags:SMB, bookkeeping, accounting, invoicing
Source: Crunchbase

Finova Financial
Online vehicle-secured lending
Latest round: $125,000 Seed
Total raised: $125,000
HQ: Palm Beach Gardens, Florida
Tags: Consumer, credit, automobile lending, alt-lender, underwriting
Source: Crunchbase

C2FO
Working capital finance
Latest round: Not disclosed
Total raised: $85 million in prior rounds
HQ: Fairway, Kansas
Tags: SMB, enterprise, credit, receivables financing, trade finance, factoring, underwriting, Citibank (investor)
Source: FT Partners

CreditNation
Loan comparison site
Latest round: Not disclosed
Total raised: Unknown
HQ: Delhi, India
Tags: Consumer, credit, lead gen, price comparison, loans, discovery, lending
Source: Crunchbase

Truebill
Recurring payments management
Latest round: Not disclosed
Total raised: Unknown
HQ: San Francisco, California
Tags: Consumer, payments, personal financial management, billpay, recurring bills, PFM, Ycombinator
Source: Crunchbase

True Potential
Wealth management technology
Latest round: Undisclosed Private Equity
Total raised: Unknown
HQ: London, England, UK
Tags: Advisors, consumer, wealth management, investing
Source: Crunchbase

German P2P Bitcoin Lending Innovator Bitbond Launches its API

Bitbond_homepage_Feb2016

Lending and borrowing money using bitcoin just got a lot easier.

P2P bitcoin lending platform, Bitbond, has released its API for investors and developers. Quoted at Usebitcoins.info, company CEO and founder Radoslav Albrecht said the API “reflects Bitbond’s desire to make the lives of investors on our platform as easy as possible.”

Bitbond_stage_FEU2015

Pictured (left to right): Bitbond co-founders Robert Nasiadek (CTO) and Radoslav Albrecht (CEO) demonstrating Bitbond AutoInvest.

Available with complete documentation, the Bitbond API gives investors and developers the ability to “customise and automate” the entire loan process, while providing ready access to Bitbond’s entire loan history data. “This allows investors to analyze data and to craft individual investment strategies based on it,” Albrecht explained. “We are sure that developers and investors alike will get terrific value from the Bitbond API.”

A few Bitbond statistics:

  • More than 23,000 active users in more than 120 countries
  • More than 1,1000 loans originated for a loan volume of more than $340,000
  • Loans available up to $10,000 at rates beginning at 7.7%
  • Terms range from six weeks to five years

Recent headlines for Bitbond include the launch of its bitcoin purchasing power index in November, and the beginning of its bitcoin affiliate program in September. Last summer, Bitbond was recognized as a “rising fintech startup” by Coin Telegraph.

Founded in January 2013 and headquartered in Berlin, Germany, Bitbond demonstrated its AutoInvest feature at FinovateEurope 2015. The company has raised more than $940,000 in funding; its most recent investment was an angel round led by Point Nine Capital in May 2015.


For more developer-friendly news, be sure to visit our sister blog, FinDEVr.com. And remember that Very Early Bird discounts to FinDEVr New York 2016 end this Friday.

Finovate Alumni News

Around the web:

  • Nomis Solutions introduces new version of its Dynamic Pricing solution with behavioral attribute pricing and active recalibration.
  • ReBusiness Online looks at Bazaarvoice and its move into new offices in Austin.
  • Bank Innovation: Dwolla updates its API to facilitate better ACH transactions.
  • Business Insider quotes itBit CEO Chad Cascarilla on banks and the blockchain.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

A Cartographer’s Guide to FinovateEurope

If you’ve already registered for FinovateEurope, you’ve probably already seen the list of 71 presenting companies that will showcase on 9 & 10 of February at the event in London (if you haven’t registered yet, there’s still time).

For a unique view of the demoing companies, take a look at our presenter map that shows where each company is headquartered:

FEU16PresenterMapFinal.small

The 71 presenting companies represent 20 different countries:

  • 17 are North America-based companies bringing their innovations to Europe
  • 11 are based in the U.K.
  • 6 are Swiss the country with the densest concentration of presenters

The event is only a few days away, so it’s time to start planning your trip. Here are a few tips:

  1. Register today. This year will be our largest FinovateEurope audience yet and tickets are going fast
  2. Download our event app (search Finovate in the Bizzabo app) to connect with other attendees, view information about the presenters, and more
  3. Check out our Sneak Peek series for a preview of select demos
  4. For specific questions, visit our FAQ at the bottom of the event site or email europe@finovate.com

FinovateEurope 2016 is sponsored by The Bancorp and KPMG.

FinovateEurope 2016 is partnered with Acuity Market IntelligenceAite Group, Bank Innovators Council, BankersHubBayPay Forum, bob’s guide, Byte Academy, Canadian Trade Commissioner Service, CelentThe Cointelegraph, CrowdReviewsDigital Currency CouncilEmerging Payments AssociationFinancial Services ClubFintech Finance, The Fintech Times, Harrington StarrIDC Financial InsightsMapa Research, Mercator Advisory Group, The New EconomyPayments & Cards Network, PitchBook, Plus Journal, SME Finance Forum, techUK, The PaypersVerdict Financial, and World Finance.

Finovate Alums Are Top Tech Startup Fundraisers in Four States

TheUSofStartups_infographic

An interesting infographic from CB Insights reveals four Finovate/FinDEVr alums to be the most well-funded tech startups in their respective states.

“Using CB Insights data, we analyzed the most well-funded startups by state based on disclosed equity funding,” read the CB Insights blog accompanying the map. The survey did not include debt funding and companies had to have raised at least $5 million. The survey also did not include from Alaska or Hawaii, which had no qualifying startups.

Avalara_FinDEVr2015_logoAvalara (Washington State)

CashStar_Grayscale_Logo_No_TagCashStar (Maine)

edo_Interactive_logoedo Interactive (Tennessee)

 

Kabbage_logoKabbage (Georgia)

For more on funding for Finovate alums, check out our funding year-in-review, Finovate Alums Raise More than $3 Billion in 2015.

FinDEVr APIntelligence

FinDEVrNY16-V2(wdate)We’re taking our FinDEVr developer showcase to New York on March 29 & 30, 2016. Register today and save $200 through Friday.

The latest from FinDEVr San Francisco 2015 presenters:

  • Thinking Capital to power new “Staples Business Loans” program for small businesses in Canada.
  • Markit lands three new customers for its KY3P (Know Your Third Party) platform.
  • LandedCost from Avalara Helps SMEs Navigate International Taxes, Tariffs, and Fees.
  • American Banker: OnDeck Capital Adds Former E-Trade Exec to Board.
  • Mitek Partners with Harland Clarke to Improve RDC Security.

Alumni Updates:

  • Online trading platform Investfly integrates with the Tradier brokerage API.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.