Finovate’s European Alums Raised More Than $350 Million in 2015

Finovate’s European Alums Raised More Than $350 Million in 2015

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Nineteen Finovate alums headquartered in Europe raised $350 million in 2015.

From the $16,000 in seed money raised by U.K. startup, StockViews, to the €82 million investment received by Germany’s Kreditech, we’ve counted every euro, pound, and dollar that investors poured into our European alums. And whether the funding represented an initial infusion of capital or was part of a multi-stage Series E round, it is clear that investors are very interested in the fintech innovations of Europe.

Take a look for yourself at the “European Portfolio” from 2015 below, featuring Finovate alums from the United Kingdom, Ireland, Germany, Switzerland, and the Netherlands.

GermanFlagGermany

 

Ireland_FlagIreland

 

Netherlands_FlagThe Netherlands

 

 

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Switzerland

 

 

UK_FlagUnited Kingdom


There’s still time to join us in London for FinovateEurope! Our two-day conference returns to Old Billingsgate Market Hall, February 9 and 10. Get your tickets today and save your spot.

 

 

Finovate Alumni News

On Finovate.com

  • “Kreditech Raises 82 Million in Series C Investment Led by J.C. Flowers”
  • “Ellevest Pulls in $10 Million from Morningstar”

Around the web

  • Ripple Labs and Coinbase are highlighted in this infographic on how banks are using blockchain technology.
  • Let’s Talk Payments takes a look at Aire and its alternative approach to credit scoring.
  • Venmo is featured along with nine other top bill-sharing apps.
  • Emerging Payments Awards selects Hyperwallet as a finalist for the Best Corporate/Government Payments Program award for 2015.
  • Kony to offer enterprise mobility cloud solutions to Etisalat.
  • Forbes: Nordea selects Temenos and Accenture to undertake the first major comprehensive European core-banking replacement in years.
  • ChicagoInno features Morningstar’s HelloWallet’s Best of Show win at FinovateFall.
  • PayPal unveils its chip-card reader in the U.S.
  • Hyperwallet counts down to next week’s FinDEVr developer conference. Come see Hyperwallet at FinDEVr, 6/7 Oct in San Francisco.
  • COO Connect calls Blooom, the future of retail savings.

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.

$680 Million Raised by 29 Alums in Q1 2015

$680 Million Raised by 29 Alums in Q1 2015

cartoonmoneystackThe biggest surprise in our look at first-quarter funding is that the $677 million amassed by 29 Finovate alums was more than 20% of the $3.2 billion invested in the entire worldwide fintech sector.

The $677 million raised was $85 million (+14%) above the same quarter a year ago, and more than triple the first quarter of 2013.

Q1 2015 was also $133 million above the $544 million mark set in the fourth quarter of 2014.

It will be worth watching to see if this record-setting first quarter for Finovate alum fundraising will be a sign of more great things to come for capital-raising in 2015.

Top 10 Overall Investments

  1. Xero: $111 million in February
  2. Coinbase: $75 million in January
  3. Betterment: $60 million in February
  4. TransferWise: $58 million in January
  5. App Annie: $55 million in January
  6. Ayasdi: $55 million in March
  7. Motif Investing: $40 million in January
  8. Ripple Labs: $30 million in January
  9. Bill.com: $50 million in February
  10. Pindrop Security: $35 in February

Previous Quarterly Comparisons

  • Q1 2015: More than $676 million raised by 29 alums
  • Q4 2014: More than $544 million raised by 25 alums
  • Q1 2014: More than $600 million raised by 8 alums
  • Q1 2013: More than $155 million raised by 14 alums

January: More than $275 million raised by 14 alums

February: More than $264 million raised by 8 alums

March: More than $136 million raised by 7 alums

If you are an alum that raised money in the first quarter of 2015, and do not see your company listed, please drop us a note at research@finovate.com. We would love to share the good news! Funding received prior to becoming an alum not included.

Alt Credit Score Startup, Aire, Raises $1.1 Million

Alt Credit Score Startup, Aire, Raises $1.1 Million

AireTeamSmall

London-based Aire.io, the startup that is democratizing credit scores for people with thin or no credit files announced a $1.1 million round of funding today.

While Aire received the new installment in January, it has not been made public until now. The funding comes from existing investor SparkLabs Global Ventures, with additional contributions from:

  • Andrew Mullinger
  • Peter Jackson
  • Tom Glocer

AireHomepage

Aire pulled in its initial Seed round of $300k in the summer of 2014. When added to the second Seed round in today’s announcement, the startup’s funding totals just under $1.5 million.

Aire’s recently launched Credit API enables lenders to perform a credit check on people who do not have financial history on file with traditional credit bureaus. Its predictive algorithms assign a score to consumers based on self-declared data and other reliable sources, such as LinkedIn.

The startup is a TechStars company, and has received multiple other accolades. Here are the latest:

  • Fintech City: Hottest Ten Fintech of Europe
  • Business Insider: Top 15 Start-ups in Europe
  • DataMonitor Financial: FinTracker Award

Aire launched its Credit API at FinovateEurope 2015 in London. Check out the live demo video.

Finovate Alumni News

On Finovate.com:

  • ID.me Raises $3 Million in New Venture Debt Funding
  • Alt-Credit Score Startup, AireRaises $1.1 Million.

Around the Web:

  • Polish & Slavic Federal Credit Union chooses online banking platform from ACI Worldwide.
  • Finextra’s Future Money Focus interviews Thomas DeLuca, CEO of Advanced Merchant Payments.
  • BBC column on Technology of Business features AzimoCurrency CloudCurrencyFair, and TransferWise in a discussion on the currency transfer business.
  • Forbes.com profiles Singapore-based Fastacash.
  • PYMNTS features ThreatMetrix’s latest whitepaper.
  • Shentel integrates InComm’s CashTie API to facilitate bill pay at retail locations.
  • Financial Planning features FutureAdvisor’s freemium model.
  • Expensify launches new policy editor design.
  • Forbes features OnDeck Capital as one of three lesser-known strategies to secure business financing.
  • Bluefin Payment Systems to power payment processing for Clubworx software platform.
  • Cloud Lending Solutions announces agreement with BDO Solutions to bring its non-bank online lending platform to East Africa.

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.

Aire Launches API to Help Underwrite Risk of Borrowers with Thin Credit

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This post is part of our live coverage of FinovateEurope 2015.
 
Aire demonstrated its Credit API that helps lenders underwrite the risk of borrowers with thin credit files.

Aire is launching its Credit API at FinovateEurope 2015. The API enables lenders to use Aire to perform a credit check when traditional data doesn’t exist in the credit bureaus.

The immediate benefit is the ability to re-score applicants when no data exists on their bureau file. This enables lenders to expand the pool of eligible applicants by removing the no-data problem.

The API can also be used as a credit enhancement amongst other use-cases that we are excited to see companies explore. The signup for the API will also open at FinovateEurope for our partners.

 

Presenters: Cofounders Aneesh Varma and Jon Bundy

 
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Product launch: February 2015
Metrics: Aire is a TechStars company; 7 employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B) through financial institutions and through other fintech companies and platforms

HQ: London, United Kingdom
Founded: January 2014

Website: aire.io
Twitter: @airescore

FinovateEurope 2015 Sneak Peek: Part 7

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FinovateEurope is less than a week away, and we’ve already surpassed last year’s record-breaking attendance. Soon, we’ll be sitting inOld Billingsgate Market Hall in London, enjoying tea while enjoying the first day of live demos at FinovateEurope.

Want to be a part of the largest FinovateEurope crowd ever? Get your ticket soon before it’s sold out.

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In this final post of our Sneak Peek series, we’re featuring Aire, Akamai Technologies, LifePay, MoneyHub, mydesq, Onlinepay.comSedicii, and Taulia. You can see all the posts here:


AireLogo.jpg

Aire is an alternate credit score for people. Our mission is to help thin-file customers who qualify for essential financial products via this new score.

Features

    • Rescore credit rejections to lend to 15%+ more customers
    • Improve overall cost of acquisition
    • Minimal change to existing risk profile

Why it’s great
Aire can help turn a No to a Yes.

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Presenters

Aneesh Varma, Co-founder
Varma is a serial entrepreneur with a prior startup in enterprise retail tech, he started off in consumer finance at JPMorgan. He’s an engineer with a background in predictive algorithms quantitative finance.
LinkedIn

 

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Jon Bundy, Co-founder
With 14 years across financial technology, Bundy has been building risk and data products with an additional expertise in fraud detection and AML as well. He was previously at RBS, Searchspace and Symbian.
LinkedIn

 


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Akamai Technologies is a leading provider of cloud security services, helping banks provide secure, high-performing user experiences on any device, anywhere.

Features

    • Focus on the source of the request
    • Determine the extent to which that source has sent malicious requests in the past
    • Make predictions regarding how much that source can be trusted in the future

Why it’s great
The Akamai Client Reputation service provides financial institutions the ability to forecast intent and protect applications against web attacks.

Presenters

Ory Segal, Director of Threat Research
LinkedIn

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Nick Coleman (pictured), Web Security Specialist

 

 


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LifePay is an mPOS EMV chip-and-pin solution, allowing SMEs to accept payments by plastic cards via smartphones, and get LifePay Stand and overall sales analytics.

Features

    • LifePay-mPOS chip & pin is a start-point of LifePay ecosystem
    • LifePay offers the LifePay Stand solution with a portable printer and cashbox as a next-gen cash register.
    • Merchant’s portal

Why it’s great
LifePay – inspiring Asia


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MoneyHub puts the user at the center of their financial universe and helps them visualize their future. MoneyHub’s Ecosystem will empower people to connect, share data and collaborate with their financial advisers and institutions like never before.

Why it’s great
Your customers are already using MoneyHub, why not see how you can use it with them?

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Presenters

Toby Hughes, CEO MoneyHub
Hughes, Founder and CEO of MoneyHub, is an entrepreneur with more than 10 years of digital marketing and technological innovation experience in financial services.
LinkedIn

 

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Dave Tonge, CTO
Tonge, CTO at MoneyHub, has a strong technical skill-set and entrepreneurial instincts. Dave specializes in innovative business strategy and agile software architecture.
LinkedIn

 


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mydesq is an iPad-based workbench which combines products, clients, accounts and analytics providing wealth managers the information advantage to work smarter.

Features

    • Work from anywhere, anytime
    • Simplify work
    • Increase Sales & Service

Why it’s great
It revolutionizes and simplifies the way wealth managers work.

Presenter

Milan Vora, CEO & Founder
LinkedIn


OnlinepayLogo2.jpg

onlinepay.com is a mobile wallet for students. Share, buy and top up!

Features

    • Share your money with your friends
    • Make purchases directly from your mobile phone
    • Top up your gaming accounts  

Why it’s great
onlinepay.com is a mobile wallet, designed for fun and sharing money, convenient mobile shopping and top up of gaming and trading accounts.

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Presenters

Vladimir Kovalevskiy, Director
Kovalevskiy has in-depth experience in the payment and e-commerce fields in Russia and abroad, including projects related to mobile payments.
LinkedIn

 

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Anfisa Chernaya, Marketing Manager
Chernaya is working in marketing field for last 5 years.
LinkedIn

 


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Sedicii eliminates the exposure (storage and transmission) of private data required to authenticate.

Features

    • Sedicii Payments Card Authentication
    • Sedicii Mobile Authentication
    • Sedicii Contact Centre Authentication

Why it’s great
It is innovative technology for more secure authentication and identity verification.

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Presenters

Rob Leslie, CEO
Leslie’s track record includes part of the original management team to establish/grow Dell Japan to $300M TO in 4 years. Leslie also co-founded PTS Japan, sold in 2000, having achieved $33M valuation in 5 years.
LinkedIn

 

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Richard Coady, Commercial Director
Coady has held senior positions with BT, WBT Systems, Prometric. He will work towards the implementation of the International Sales strategy for the Sedicii portfolio of authentication applications.
LinkedIn

 


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Taulia transforms supply chains, enabling organizations to create a healthy relationship between suppliers and buyers.

Features

    • Sets up a SaaS network between a buyer and all its suppliers with eInvoicing
    • Uses network to offer all suppliers an opportunity to get paid early using third-party finance
    • Preserves buyer capital

Why it’s great
Taulia solves the buyer/supplier payment dilemma.

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Presenters

Matthew Stammers, European Marketing Director
Member of the European management team with responsibility for launching Taulia in Europe. Previously worked for Bottomline Technologies and Capita and holds a Henley MBA.
LinkedIn

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Christophe Juvanon, European Solutions Consulting Director
Key member of Taulia’s European team responsible for understanding customer’s requirements and solution fit. Previously employed by OpenText and DHL. Holds a post-grad degree from Napier University.
LinkedIn


 

That concludes our Sneak Peek series. You can catch all 70+ companies as they demo live at FinovateEurope on February 10 and 11. Pick up your ticket here.

Questions? Check out our FAQ.