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It is hard to believe that it is almost time for FinovateSpring 2014.

There's still plenty of time for you to get your tickets to our upcoming event in San Jose, California on April 29 and 30. Our final Sneak Peek preview post is up, all the companies who were prepping under the radar are now out of stealth, and we can't wait for you to see what this year's spring crop of fintech entrepreneurs and innovators has in store.

Before we do, however, let's take a moment to take a look back at last year's FinovateSpring alums. As we scrolled through blog archives, several themes jumped out: the appetite for startups remains as passionate as ever, with three of our Spring 2013 alums being acquired by such financial sector potentates as Intuit and PayPal. And venture capitalists continue to see innovation in this space as a more than worthwhile investment, with 20 separate fundings for Spring 2013 alums

We've grouped the achievements into four categories: Exits, Fundings, Awards, and Acquisitions. Enjoy!



EXITS

  • Jack Henry buys Banno for undisclosed sum
  • The rumors are true: eBay's PayPal acquires Braintree for $800 million in cash
  • Intuit buys tax planning/preparation specialist GoodApril
  • TaxAct acquires Balance Financial
FUNDINGS

  • CardFlight secures $1.6 million in seed funding from ff Venture Capital
  • Encap earns seven-figure investment from ProVenture Seed
  • EyeVerify earns $2.3 million in Series A funding
  • Jemstep raises $4.5 million in Series A round
  • Kabbage brings in $270 million in debt financing to provide small businesses with funding of their own
  • Kabbage brings in $75 MIllion in debt financing
  • Leaf raises $20 million from Heartland Payment Systems
  • Alternative lender LendUp raises $14 million in new funding
  • D3 Banking creator Lodo Software Brings in $3 million
  • Narrative Science secures $11.5 million in Series C funding
  • OpenCoin wins investment from Google Ventures, IDG Capital Partners
  • P2BInvestor raises $1.2 million in Series A round
  • PayNearMe leverages Family Dollar Partnership; raises $20 million
  • PayNearMe raises $10 million in Series D funding, launches Express Merchant Onboarding Option
  • Prestadero raises 5 million pesos ($400,000 USD) in first round of funding
  • Quantopian raises $6.7 million in Series A round
  • Realty Mogul raises $9 million in round led by Canaan Partners
  • SeedInvest raises $2 million in crowdfunded investment campaign
  • SeedInvest Raises $1 million in round Led by Jumpstart New Jersey Angel Network
  • Zooz Closes $2 million Series A round Led by XSeed Capital
AWARDS

ACQUISITONS

  • OpenCoin acquires SimpleHoney
  • Kofax acquires data integration software provider Kapow Technologies
  • NICE to acquire Causata to enhance customer experience management

Finovate Alumni News-- April 3, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTop Image Systems wins awards for innovations in crowdsourcing and mobile imaging.
  • Insuritas E-InsuranceAISLE Platform generated more than 2 million product impressions in March. The technology is deployed in more than 50 banks and credit unions, supporting more than $1.5 million in product sales. See them demo at FinvoateSpring.
  • Misys trade and supply chain finance processing platform embraced by National Australia Bank (NAB).
  • Nostrum Group announces opening of new office in London.
  • Kantox integrates AU10TIX B.O.S solution to auto-classify, authenticate and extract data from of images of customers ID documents.
  • Compliance Week looks at how Actiance helps banks stay compliant with social media.
  • The Australian looks at PayPal's Braintree.
  • BancVue launches new youth spending app, PiggyBot.
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.
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  • Fiserv to adopt Visa's debit EMV solution to offer issuers, acquirers and merchants an approach for debit EMV adoption.
  • Tyfone appoints former UBS managing director Nizar Jamal as Chief Technology Officer.
  • PaymentsSource: Virtual Piggy's Oink partners with European Games Group.
  • App Shopper features BudgetTracker's iOS mobile app.
  • Realty Mogul crowdfunders top $100 million worth of real estate investment.
  • VentureBeat takes a look at mobile payment success stories including PaySimple, Braintree, and PayPal.
  • TD Bank enhances online money movement services with addition of Popmoney and TransferNow from Fiserv.
  • DoubleBeam powers new mobile app for Foodland Super Market.
  • Nostrum Group reports revenue gains of more than 80% to £7 million. for FY 2013.
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.
  • Finovate-F-Logo.jpgActiance partners with Shoutlet to integrate Shoutlet's social marketing capabilities with Actiance Socialite.
  • PayPal's Braintree to waive the first $50k of processing fees for startups building on its platform through its new Ignition program.
  • On Deck raises $77 million in funding round led by Tiger Capital.
  • Mechanics Bank's Bradley Leimer takes a look at the lessons from BBVA's acquisition of Simple.
  • Simple, Moven, and Numbrs are listed in American Banker's feature "6 Apps That Are Making Bankers Jealous."
  • Recode reviews Loop. Check out its new payment tech at FinovateSpring next month.
  • The Tally's Financial News Fintech Focus column features Kensho.
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.

Finovate Alumni News-- December 20, 2013

  • Thumbnail image for Finovate-F-Logo.jpgTipRanks, Narrative Science, Spreedly, and Fiserv earn "True Innovators Awards" in Bank Innovation's 2013 GonzoBanker column.
  • Jos White of Notion Capital talks about credit card fraud and his firm's investment in Trustev.
  • Braintree CEO Bill Ready discusses the future of online payments on Bloomberg TV.
  • Nordea, SEB, and Swedbank announce plans to offer MasterPass-powered digital wallets courtesy of MasterCard.
  • FIS launches e-learning suite to help FIs comply with new CFPB regulations.
  • Business ETC takes a look at growing interest in Irish start-up, Trustev.
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.
  • Finovate-F-Logo.jpgDel-One Federal Credit Union to offer PFM powered by Geezeo.
  • GigaOm reports: Braintree's cross-app payment service Venmo Touch comes to the U.K.
  • BBVA blog features Philippe Gelis, founder and CEO of Kantox.
  • Bank Innovation calls CardFlight "a dongle with a difference."
  • The Financial Brand takes a look at mobile photo account opening via Mitek.
  • Motif Investing CEO talks about motif building in an interview with NBC.
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.
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After weeks of rumors, there's no doubt you've heard of PayPal's plan to acquire payments gateway, Braintree. This week, it pulled the trigger and dished out $800 million in cash for Chicago-based Braintree.

According to PayPal CEO, David Marcus, this acquisition will help Braintree grow much faster than a normal, startup pace. In his blog post announcing the deal, Marcus states:

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"Our resources will enable them to push the boundaries of innovation with ambition and confidence for consumers, merchants and developers around the world."

Braintree's payment gateway, which launched in 2007, can handle 130 different currencies in more than 40 countries. It will continue operating as it normally does, servicing companies such as AirBnB, OpenTable, and Uber.

Braintree last demoed at FinovateSpring earlier this year where it showed off its recently acquired Venmo touch technology.

Finovate Alumni News-- September 26, 2013

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  • Updated Google Wallet app lets users store loyalty cards.
  • MasterCard teams up with National Bank of Egypt, Egyptian Banks Company, and Fawry to launch m-wallet in Egypt.
  • EBay's PayPal acquires Braintree in $800M cash deal.
  • The Boston Business Journal features peerTransfer.
  • miiCard presents trends from the innovators at FinovateFall.
  • Lendio raises $4.5 million for small business loan-matching Service.
  • TechCrunch reports: SecondMarket launches a Bitcoin investment trust for accredited investors.
  • Billhighway adds Boys & Girls Club of Troy as client.
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.

Finovate Alumni News-- September 24, 2013

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  • Capital Access Network listed among Information Week's top U.S. technology innovators in 2013.
  • FIS announces analytics programs for customers.
  • Swipely now managing $1 bil in annual sales, 1 yr. after entering payments market & launched Swipely Partner Network.
  • Cachet Financial Solutions announces Select Mobile Lending, a new mobile app.
  • MasterCard and Entrepreneurial Finance Labs join forces to promote SMB growth in developing nations.
  • TechCrunch reports PayPal, Stripe, & Braintree partner with Facebook to autofill billing info in mobile commerce apps.
  • ERN partners with FICO to embed FICO's marketing solutions within its real-time Big Data analytics platform Looop.
  • Mountaineer Gas joins doxo to simplify bill delivery, payment, and record keeping for its 220,000 customers.
  • Digital Insight announces new CEO, John O'Malley.
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.
  • Finovate-F-Logo.jpgFiserv launches Predictive Scores tool that models customer behavior. Come see Fiserv at FinovateFall next week.
  • First Federal Savings Bank implements PFM through MoneyDesktop. Check out MoneyDesktop's new solution at FinovateFall in NYC.
  • PayPal Updates iOS And Android Apps With The Ability To Order Ahead, Pay Restaurant Bills, Access Bill Me Later And More.
  • Woodinville Water District Achieves Significant Increase in Paperless Water Bills in the First 90 Days of doxo Implementation.
  • Members Choice CU To Offer PFM Powered By Geezeo.
  • Braintree adds new layer of fraud protection for merchants.
  • Finovate alumni driving growth in online investment advisory industry.
  • Forbes features article on Narrative Science's Quill. Come see them at FinovateFall next week.

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.
  • Finovate-F-Logo.jpgYseop selected as a finalist for the category of "Social, CRM and Loyalty" for the DMA Innovation Awards.
  • Finextra reports: Virtual Piggy integrates with social game giant Habbo Hotel.
  • TechCrunch reports: Braintree launches a new service called Marketplace, an API designed for mobile marketplace operators.
  • The Sleeter Group reviews Kashoo, Xero, and others.
  • The Guardian Money features social lending service Zopa.
  • Transaction processing driving revenue growth for Jack Henry & Associates.
  • Pymnts.com interviews Daniel DeMeo, CEO at Capital Access Network, on the rise of commercial lending.
  • Snarketing 2.0 highlights Credit Karma, FlexScore, and Moven in a column on why the financial services industry needs a "FinScore".
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.
  • Finovate-F-Logo.jpgThe Economist mentions Holvi as a financial company facing regulation that prevents it from lending.
  • HelloWallet unveils research department.
  • Fast Company lists Braintree as 1 of 10 companies with "developer cred".
  • Google Wallet to end NFC functionality for storing gift and loyalty cards by the end of the month.
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.

Finovate Alumni News-- August 5, 2013

  • FinovateLOGO.jpgZopa featured in a Scottish Express column on P2P lending in the United Kingdom.
  • MasterCard and Visa to bring standardized chip-and-pin technology to the U.S.
  • Azimo, Zopa, and Lending Club are among the Finovate alumns highlighted in an Economist column on "changing finance for the better."
  • VentureBeat lists BillGuard as 1 of 20 fastest growing mobile startups.
  • Slate lists reasons why everyone should download and use Braintree's Venmo app.
  • Digital Trends chats with Basil Anan, CoverHound CEO on insurance rates trends. Check out CoverHound's new tech at FinovateFall in NYC next month.
  • Braintree listed by Pando Daily as one of Chicago's "new class of anti-Groupons".
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.
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Payment processing company Braintree recently announced it is now processing $10 billion in payments annually. 

This is $2 billion (20%) more than the Massachusetts-based company reported in April of this year and it is 2x more than what it was processing 6 months ago. According to Pando Daily, 25% of this growth comes from international merchants.

Braintree also recently added Swedish game developer Mojang to its list of clients, which includes:

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To learn more about Braintree, watch its FinovateSpring 2013 demo.

  • SumUp to participate in the Visa Ready program to prepare their mobile acceptance software and hardware tested and approved for use by Visa.
  • Linkable Networks partners with 4INFO, a mobile ad tech company, to provide consumers with access to card-linked offers via mobile devices.
  • Metaforic releases Metaforic WhiteBox, a secure cryptography solution for Mobile Financial, Conditional Access, BYOD and Embedded Communications and payments.
  • Merchant Customer Exchange chooses FIS to power real-time, mobile commerce payment network.
  • Finovate alum Braintree highlighted in coverage of MobileBeat 2013.
  • Financial Post takes a look at "do-it-yourself hedge fund site" Quantopian.
  • Allied Payment Network and Malauzai Software team up to provide PicturePay as stand-alone mobile bill pay solution.
  • Dashlane and Narrative Science graduate from FinTech Innovation Lab after participating in "Demo Day".
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.
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Courtesy of collaboration with Braintree, banking with Simple just got simpler.

The partnership between the global payments company and the online mobile banking innovator will give Simple's customers access to Venmo Touch. Adding this feature to their mobile app allows Simple to provide one-touch purchasing throughout Venmo's app network ranging from Uber, Hotel Tonight, and Wrapp.

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The partnership represents the first time Braintree has offered direct banking integration for Venmo Touch. Braintree processes more than $10 billion annually (more than $2 billion alone on mobile) in transactions from more than 40 countries around the world. 

The company acquired Venmo a little under a year ago for more than $26 million. A few months later, Braintree announced that it had raised $35 million in funding.

For its part Simple has onboarded more than 35,000 users as of June, with six times that number reportedly on waiting lists to use the still-in-beta service. The company provides a mobile payment solution, linked with their own FDIC-insured bank (The Bancorp Bank), that organizes all of a consumer's various accounts into a single, Simple bank card. 

Simple also announced today a new partnership with Dropbox. The arrangement will allow Simple users to add PDFs and images from their Dropbox accounts to their transactions.

Braintree demonstrated its Venmo Touch solution as part of the FinovateSpring 2013 show in San Francisco back in May. See the company's demo here.
  • Finovate-F-Logo.jpgBraintree opening office in Sydney, Australia, that will cater to developers and startups.
  • Monitise named winner in the Inspire Wales Awards.
  • Pindrop Security raises $11 million led by Andreessen Horowitz and Citi Ventures.
  • Metaforic wins American Technology Award for Cyber Security.
  • New Business interviews CurrencyFair founders on saving money when making foreign currency transactions.
  • Biz Report's Mobile Marketing column features 3 tips to improve location-based campaigns in an interview with Locaid CEO, Rip Gerber.
  • INTJ Capital takes a look at QuantConnect's announcement that it has added historical FX and US equity tick data.
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.

Finovate Alumni News-- June 6, 2013

  • FinovateLOGO.jpgCentral Intelligence Agency takes an actionable interest in Narrative Science.
  • IT operations management company Boundary touts its relationship with CurrencyFair.
  • Backbase CEO and co-founder Jouk Pleiter warns that bank customers are "no longer content to do the groundwork."
  • Mercator Advisory Group analyst takes a look at TSYS's proposed acquisition of NetSpend.
  • Mitek, LendUp, & Fuze Network dubbed runners up in 3rd Annual Core Innovators Mega Challenge.
  • TIO Networks announces strategic relationship with Aio Wireless.
  • Stockr wins Vator Splash LA startup competition, crowned most exciting company.
  • BankersLab launches Bank-it: Credit Edition.
  • Personal Capital to establish a Denver office and hire 100 financial advisers.
  • Business Insider interviews Braintree CEO, Bill Ready.
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.

Finovate Alumni News-- May 21, 2013

  • FinovateLOGO.jpgBirdback teams up with Braintree for 3-day payments hackathon.
  • Indiana Members CU chooses Jack Henry & Associates' Symitar for in-house core processing.
  • Keynote DeviceAnywhere adds mobile scripting, UI enhancements.
  • VoiceTrust moves operational headquarters to Canada, opening offices in Toronto and Montreal.
  • Figlo expands partnership with Yellowtail Consulting to enable stronger focus on South Africa.
  • Wipit partners with Sprint/ Boost Mobile to bring mobile payment capability to cash-preferred consumers.
  • Virtual Piggy signs first UK partners, Toy Galaxy and Toadstool.
  • eToro granted UK financial regulation approval from the Financial Conduct Authority (FCA).
  • Tyfone releases Connected Smart Card solution to allow FIs to enhance user ID info used to access sensitive data.
  • Tradeshift partners with Invoiceware International to deliver compliant e-invoice validation in Latin America.
  • BillGuard to integrate with Google Wallet for transaction monitoring.
  • SigFig Portfolio adds support for Windows Phone.
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.
This is a part of our live coverage of FinovateSpring 2013.

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Next, Braintree showcased how its Venmo Touch saves consumers time:  

"Venmo Touch eliminates the need to constantly re-type your credit card information when making purchases on your mobile device. It provides a connective layer across all the apps on your phone, designed to make every payment in a new app as easy as buying a song in iTunes. 

The next time you enter your card details in one of the apps in our network, just check "Save card with Venmo." When you use other in-network apps on the same device, you will see the option to use the saved card to pay with just a single touch."

Product Launch: January 2013

HQ: Chicago, IL
Founded: 2007
Metrics: Braintree has raised $70M through a series A from Accel Partners and a series B led by NEA (New Enterprise Associates) with contributions from Accel, RRE Venture, and Greycroft. We process $6B in transaction annually, $2B of which is on mobile, from over 4,000 different merchants. All of this is powered by a team of only 120-150 employees.
Twitter: @braintree

Presenting Andrew Kortina (Co-Founder, Venmo)

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  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBraintree's Bryan Johnson provides columnist James Altucher with an example of "how to go from $0 to $1,000,000 in two years." See Braintree demo at FinovateSpring in San Francisco.
  • TransactionAge takes a look at Klarna as an alternative to Google Wallet.
  • Digital Mailer's My Virtual StrongBox deployed by Redstone Federal Credit Union.
  • Investment News features Finect, a social network for financial advisors. Join them in San Francisco for FinovateSpring.
  • miiCard partners with Bitcoin Exchange Platform, Tradehill.
  • Innovation Agency updates Innovation Café to support formal judging process and integrated rewards payment process.
  • TIO Networks announces partnership with mobile app developer iFactor Consulting.
  • Bloomberg Businessweek reports: On Deck Capital Targets Businesses Banks Won't Touch.
  • David Barrett, Expensify CEO, interviewed on SkyNews to talk about Bitcoin. Come check out what's new at Expensify at FinovateSpring next week.
  • Best Vendor profiles Gremln. See them in action at FinovateSpring in San Francisco.
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.

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNewfination interviews Adhil Shetty, founder and CEO of BankBazaar.
  • Pymnts.com features TipRanks Financial Accountability Engine. Join TipRans in San Francisco for FinovateSpring.
  • Klarna co-founder Niklas Adalberth talks about hyper growth in Europe.
  • InvestmentNews columnist takes a look at Finect. See them demo at FinovateSpring in May.
  • Yodlee forms partnership with London fintech incubator Level39.
  • Virtual Piggy wins The National Parenting Center's 2013 Seal of Approval under the Websites category. See it demo live at FinovateSpring.
  • Signifyd receives the Merchant Risk Council's 2013 Emerging Technology Award in the startup company category. Come see it demo live at FinovateSpring.
  • Engadget reports: PayPal and Discover expand partnership, will reach 2 million stores by year-end.
  • PandoDaily looks at Xero's stealth period.
  • Billhighway partners with the Automation Alley Fund organization.
  • Braintree hires Google Wallet co-creator & former Square employee Rob von Behren as lead software engineer.
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.
  • Webmasterchecks drops PayPal and makes Dwolla its exclusive payment service provider.
  • Mobile World Live considers Braintree's offline strategy. Come to FinovateSpring to check out its live demo.
  • Kony Solutions talks to banks about selling shares in a public offering as early as this year.
  • Xero releases updates that facilitate payroll reporting.
  • Chicago Tribune takes a look at TipRanks. Join TipRanks in San Francisco in May for FinovateSpring.
  • Alliance Data Retail Services reports on its geofence pilot program with Locaid.
  • EyeVerify wins third eyeprint patent for its mobile security technology. See them demo at FinovateSpring.
  • ACI Worldwide announces latest version of ACI Issuer, a cost-savings solution for card-issuing and account management.
  • Actiance partners with Symantec to provide integrated compliance, eDiscovery and archiving for social business.
  • BrightScope brings Nerd's Eye View publisher Michael Kitces to its advisory board.
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.
  • Finovate-F-Logo.jpgAG Beat features Entrepreneurial Finance Lab.
  • BSCG, Mitek, and Yodlee selected as Monarch B2B Innovation Award Winners.
  • Lodo Software appoints Matthew Lawlor, former founder & CEO of Online Resources, to board of directors.
  • South African Logistics Company implements Kofax Software to Automate HR. Watch Kofax demo live at FinovateSpring.
  • Business Credit Radio features Sue Heilbronner, PaySimple's Chief Growth Officer.
  • American Banker highlights Plastyc's unique approach to serving prepaid card users. Watch Plastyc's demo at FinovateSpring.
  • Mati Greenspan, senior investment consultant at eToro, explains how eToro will soon support Bitcoin.
  • American Banker looks at Braintree's multi-merchant approach. Come see Braintree demo at FinovateSpring.
  • Live Science considers how Narrative Science automates journalism and report generation. See Narrative Science's live demo at FinovateSpring.
  • Quantopian announces algorithm development competition.  The company will demo at FinovaeSpring in May.
  • Bank Innovation reports: Intuit will continue to support FinanceWorks.
  • Reuters takes a look at TipRanks. See them demo at FinovateSpring.
  • eDeposit announces major new features in upgrade of mobile app.
  • TradeHero a winner at Echelon Singapore Satellite pitch competition.
  • INTJ Capital gives kudos to Quantopian's decision to provide for external data sets. Join Quantopian in San Francisco for FinovateSpring in May.
  • American Banker interviews Green Dot CEO and founder Steven Streit. See Green Dot demo at FinovateSpring.
  • Realty Mogul is among the companies highlighted in Upstart Business Journal column on crowd funding. See them demo at FinovateSpring.
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.
  • Finovate-F-Logo.jpgYodlee launches first phase of new Developer Portal.
  • VentureBeat looks at how PayPal's new credit alternative for merchants simplifies financing.
  • TechCrunch reviews Braintree's Venmo Touch. Come see its live demo at FinovateSpring.
  • Yandex announces redesign of homepage that's 50% faster than the previous one. Check out Yandex and FinovateSpring.
  • Prosper works with the Securities Division of WA's Dept of Finance to allow Washington residents to lend once again.
  • Life360 deploys Locaid to provide customers with free location lookups via smartphone.
  • Dignity Folklorist reviews Pageonce for iPhone.
  • Business2Community features Wallaby 2.0 for Android.
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.
BraintreeLogo.jpg

Last week, online payments solutions company Braintree announced the beta launch of Venmo Payouts. This new service provides small businesses with an API to help them pay multiple independent contractors. 

The API removes checks from the payment process, enabling small businesses to pay their contractors via email or a phone number. In turn, the contractors receive payment in their account by the following day.

It's priced at 25 cents per payment, but it lessens small businesses' accounting headaches and helps contractors get paid more quickly.

Braintree acquired New York-based Venmo for $26 million in August of last year.

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Additionally, the Chicago-based company announced a partnership with TaxCloud, a tax management service for online retailers. This partnership will provide Braintree merchants a free way to collect and manage sales tax online.

Braintree demoed at FinovateSpring 2011 and will be on the FinovateSpring stage next month in San Francisco. 

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PYMNTS.com, a website owned by Business Wire and Market Platform Dynamics, recently published the winners of the 2013 Innovator Awards.

Three Finovate alums were selected as overall Best in Show winners:

First place: Pangea Payments
  • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
  • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
Second placeWaspit 
  • Description: Combining mobile payments with social media channels to empower and inform the user in everyday purchases.
  • Finovate demo: FinovateFall 2012
Third placeLeaf
  • Description: Small business payments solution
  • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15

In addition, five Finovate alums took home Gold awards, five won Silver awards, and seven were awarded in the Bronze category. Here is a summary of all of the winners:

Gold

    • Category: Most innovative
    • Innovation: PayPal POS Initiatives that leverage its worldwide digital wallet accountholder base.
    • Finovate demo: FinovateEurope 2012
    • Category: Best credit
    • Innovation: The consumer's advocate for demystifying credit with a range of tools and information resources to help them monitor and manage their financial health.
    • Finovate demo: FinovateStartup 2009
    • Category: Best B2B innovation
    • Innovation: Online working capital for small businesses.
    • Finovate demo: FinovateEurope 2013
    • Category: Best SMB innovation
    • Innovation: Small business payment platform integrated with Quickbooks.
    • Finovate demo: Finovate 2009
    • Category: Best innovation via ACH
    • Innovation: Cash flow management, accounts payable/ receivable management platform
    • Finovate demo: FinovateSpring 2011
Silver
    • Category: Most invisible
    • Innovation: Platform-as-a-Service that powers POS 2.0 commerce solutions.
    • Finovate demo: FinovateSpring 2012
    • Category: Best credit
    • Innovation: Offers consumers "more time to pay" their bills on time to help avoid late fees, overdraft charges, service termination and high cost loans.
    • Finovate demo: FinovateSpring 2011
    • Category: Best cash
    • Innovation: Enables consumers to shop online and pay with cash easily for a wide range of goods.
    • Finovate demo: FinovateSpring 2011
    • Category: Best SMB innovation
    • Innovation: Cloud-based, small business platform that integrates invoicing and payment acceptance in one system.
    • Finovate demo: FinovateSpring 2012
    • Category: Best comeback
    • Innovation: Alternative business financing that helps businesses tap into the capital it needs to run the business.
    • Finovate demo: FinovateEurope 2011
Bronze
    • Category: Most disruptive
    • Innovation: Mobile checkout service that enables one touch payments across multiple applications.
    • Finovate demo: FinovateSpring 2011
    • Category: Best technology
    • Innovation: OneID lets people sign in without usernames and passwords, yet delivers authentication solutions with non-repudiation, keeping both people and businesses safe from today's biggest identity and personal information threats.
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
    • Category: Best newcomer
    • Innovation: Aggregates financial account information and allows users to manage their money in one place, online or with a mobile device.
    • Finovate demo: FinovateSpring 2012
    • Category: Best credit
    • Innovation: Brings together investors with creditworthy borrowers to reduce the cost and complexity of traditional lending.
    • Finovate demo: Finovate Startup 2009
    • Category: Best debit
    • Innovation: Reinventing personal banking with modern online and mobile experiences, no surprise fees, and great customer service.
    • Finovate demo: FinovateFall 2011
    • Category: Best prepaid
    • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
    • Category: Best check
    • Innovation: Mitek's patented mobile imaging technology allows users to remotely deposit checks from anywhere, at anytime by snapping a picture with their camera-equipped smartphone or tablet, and has become the "gold standard" for mobile check deposit.
    • Finovate demo: FinovateSpring 2012
  • Finovate-F-Logo.jpgBella Dati opens office in Singapore.
  • Business solutions company Neopost USA to use Striata as its electronic document delivery partner.
  • Mitek facilitates more than $40 billion in check deposits.
  • GigaOM reports Braintree's recent move overseas helps double its payments volume to $8B.
  • Blackhawk Network files for IPO of up to $200 million.
  • miiCard 1 of 50 listed on the 2013 FinTech 50 Watchlist, a list companies in Europe that are redefining financial services.
  • Kashoo to partner with InfoStreet's SkyDesktop.
  • Consumers.com asks whether Klarna will become a "major player" in online payments.
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.

Finovate Alumni News -- February 19, 2013

  • Thumbnail image for Finovate-F-Logo.jpgRescuecom highlights TransferWise as low cost, currency conversion option.
  • Acculynk's Payzur brings person-to-person payments to consumers on PULSE debit/ATM network.
  • Compass Plus helps Russian-based FI SwitchMaster reach processing benchmark.
  • ekmPowershop announces partnership with EZBOB.
  • American Banker reports: Planwise to Participate in Yodlee's Incubator Program.
  • BillHighway hires new CFO.
  • Arroweye Solutions reports 40% growth due to 175% uptick in open loop card production, added 27 new clients in 2012.
  • Bill.com to provide Frantopia with accounting services.
  • Prosper unveils new protection for lenders.
  • The Next Web reports: Tradeshift adds support for accounting services Sage and Kashflow, helping businesses get paid.
  • Forbes considers how SoMoLend provides capital to small businesses.
  • VentureBeat reports SecondMarket is partnering with CircleUp to allow investors to invest in up-and-coming consumer product businesses.
  • Thomaston Savings Bank selects Q2ebanking's full suite of ebanking solutions.
  • HiddenLevers launches portfolio stress testing app to help advisors generate leads.
  • Fiserv awarded Best-in-Class rating in 2012 Anti-Money Laundering Technology Review.
  • Gifting app Wrapp selects Braintree to power payments.
  • Pageonce adds person-to-person payment functionality to mobile app.
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.
  • Finovate-F-Logo.jpgTechCrunch reports Braintree's New Payments Layer Lets Users Sign Up For Apps Without Re-Entering Their Credit Card Data.
  • Mitek and Allied Payment Network Expand Availability of Mobile Photo Bill Pay.
  • Backbase and iQStore sign partnership agreement for Russian market.
  • Xero integrates with Harvest, a time tracking and invoicing software company.
  • CNBC's Squawk on the Street features BOKU.
  • HID Global partners with BehavioSec to improve fraud detection system.
  • Facebook integration, customer management features added to Flint mobile app.
  • ACI Worldwide to buy Online Resources for more than $120 million.
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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSaveUp begins Stamp Card rewards program. Collect 10 stamps and redeem card for reward.
  • Chargebee blog features Braintree as a payment gateway integration optionin the U.K.
  • Firmology reports on new Dwolla features: Send Money to Non-Dwolla Users and Split Payments for Multiple Facilitators.
  • eToro launches YouTube channel for free trading lessons.
  • The M Report features BankersLab's Banc-it: Scoring Edition app.
  • Dexter Credit Union implements Q2ebanking's full suite of eBanking solutions.
  • Locaid partners with CAMS to provide solutions for mobile gaming industry.
  • Jingit chooses Direct Source as its preferred systems integration partner.
  • Compare Broker reviews the latest developments in the Zecco/TradeKing merger.
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.
Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgHere is a list of all the funding Finovate alumni received over the course of 2012.  

After an impressive 2011, where more than $423 million was raised, 2012 was even better, with more than $450 raised.

A few stand-out metrics for the year:

  • A total of 44 companies received funding, some more than once in 2012
  • Combined, more than $450 million was raised
  • The best quarter for raising capital was the first quarter when more than $150 was raised
  • The biggest funding month this year was March, with more than $68 million raised by three companies
Here is a month-by-month breakdown of funding received.

January -- $25 million raised by 3 companies
Currensee: $2 million -- blog post
Finsphere: $11.3 million -- blog post
HelloWallet: $12 million -- blog post

February -- $57 million raised by 5 companies
Capital Access Network: $30 million -- blog post
Dwolla: $5 million -- blog post
Jemstep: $6 million -- blog post
Kabbage: undisclosed -- blog post
Xero: $16.6 million -- blog post

March -- $68 million raised by 3 companies
Boku: $35 million -- blog post
eToro: $15 million -- blog post
ThreatMetrix: $18 million -- blog post

April -- $2.5 million raised by 1 company
miiCard: $2.5 million -- blog post

May -- $55.5 million raised by 5 companies
Kony: $15 million - blog post
Pindrop Security: $1 million -- blog post
SecureKey: $30 million -- blog post
SoMoLend: $1.17 million -- blog post
Yodlee: $8.3 million -- blog post

June -- More than $62 million raised by 8 companies
Affinity Solutions: $14.5 million -- blog post
Arroweye Solutions: $3 million -- blog post
Cartera Commerce: $12.2 million -- blog post
Credit Sesame: $12 million -- blog post
Doughmain: undisclosed -- blog post
Lending Club: $15 million -- blog post
Nutmeg: $5.3 million -- blog post
Planwise: $200,000 -- blog post

July -- $6 million raised by 2 companies
Continuity Control: $1 million -- press release
SaveUp: $5 million -- blog post

August -- More than $49 million raised by 6 companies*
DemystData: undisclosed -- blog post
FutureAdvisor: $5 million -- blog post
FreeMonee: $34 million -- blog post
The Currency Cloud: $3.1 million -- blog post
CashStar: $5 million -- blog post
Continuity Control: $2.25 million -- blog post

September -- More than $59 million raised by 5 companies
Banno: $2 million -- press release
Betterment: $10 million -- press release
Edo Interactive: $15 million -- press release
Fuze Network: $2.5 million -- press release
Kabbage: $30 million -- blog post

October -- $37 million raised by 2 companies
The Currency Cloud: $1.9 million -- blog post
Braintree: $35 million -- blog post

November -- More than $23 raised by 4 companies
ActivePath: $10 million -- blog post
Jingit: $7 million -- blog post
Bazaarvoice: $6.7 million -- blog post
Xero: $49 million -- blog post

December -- More than $16 million raised by 4 companies
Waspit: $3 million -- blog post
Controlabill: $570,000 (A$600,000) -- blog post
Zopa: undisclosed -- blog post
ShopKeep POS: $10 million - blog post
Clover Networks: $3.3 million - blog post

*In addition to the companies listed for August, On Deck Capital raised $100 million in credit facility commitments.

Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? E-mail us at Julie@Finovate.com or David@Finovate.com.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgHelloWallet launches new design for web app.
  • TIO Networks signs 5 yr agreement with City Utilities of Springfield to provide financial services.
  • TechCrunch reports Tradeshift Lands Huge Global Client For Its New CloudScan Product.
  • FutureAdvisor wins Bronze in Best in Biz Awards 2012.
  • Finextra reports Artisans' Bank chooses Andera oFlows for online deposits.
  • American Banker reports CFPB to Collaborate with Startups BillGuard, Plastyc and Simple.
  • Ping Identity ranked Number 166 Fastest Growing Company in North America on Deloitte's 2012 Technology Fast 500.
  • Braintree expands to Australia, Providing Sophisticated Payment Tools for Australian Merchants.
  • Kony Solutions opens Brazilian office, announces Itau Unibanco as a client.
  • Allfiled today announced the addition of miiCard verified identities to its personal data service platform.
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.
  • Cortera to open new office in Boston.
  • American Banker reports Mitek Plans Driver's License Authentication, Mobile Pay Software.
  • The Next Web reports Braintree and LightSpeed team up to launch new payment plan for merchants.
  • Finovate takes an in-depth look at Manilla's account management platform.
  • Emida partners with Global Business Services and The Mint Corporation.
  • The Currency Cloud raises $1.9 Million.
  • The WSJ takes LearnVest for a test drive.
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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgReadyForZero unveils ReadyForZero Plus.
  • Informilo names The Currency Cloud one of Europe's top 25 hottest early stage companies.
  • Trading Forex Foundation reviews ayondo. Come see Ayondo's live demo at FinovateAsia on Nov. 6 in Singapore.
  • Braintree Rakes in $35 Million in Series B Funding.
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.
BraintreeLogo.jpg

Yesterday Chicago-based payment platform, Braintreeannounced it raised $35 million in capital.

Contributors to this Series B round include:

    • New Enterprise Associates
    • Accel Partners
    • RRE Ventures
    • Greycroft Partners

The $35 million matches the funds of the Series A round Braintree received in June of last year, bringing its venture funding total to $69 million.

To learn more about Braintree, watch its FinovateSpring 2011 demo.

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