44 Alums Populate CB Insights’ Fintech 250 List

This week, CB Insights unveiled its Fintech 250 list. The research outfit selected 250 emerging, private companies in 17 sub-sectors of fintech that are changing the face of financial services. The roster includes 44 Finovate and FinDEVr alums that were selected using CB Insights’ data-driven process that analyzes company momentum, market participation, funds raised, and investor quality.

The list is in alphabetical order.

Algomi

AutoGravity

Avalara

Behalf

Betterment

Blend

Chain

Coinbase

Credit Karma

Currencycloud

CurrencyFair

Fenergo

Financeit

Gusto (formerly ZenPayroll)

Juvo

Kabbage

Kensho

Kreditech

Klarna

LendUp

Moneytree

PayNearMe

Payoneer

Personal Capital

Plaid

Quantopian

Quovo

Revolut

Ripple Labs

Roostify

Signifyd

SocietyOne

Socure

Tink

Token

Tradeshift

Transferwise

TrueAccord

Trulioo

VATBox

Wealthfront

Xignite

Zooz

Zopa

European Alums Shine in FinTechCity’s FinTech50 2017

Less than a week before FinDEVr London 2017, we’ve learned that fifteen of the companies selected by FinTechCity for this year’s FinTech50, a list of top European fintechs, are alums of Finovate and FinDEVr conferences. This is up from last year, when 13 alums who made the list. last year’s list. Six of the companies on the 2017 roster are making repeat appearances: BehavioSec, Fenergo, Kantox, Mambu, Meniga, and Revolut.

Eight of the alums in the FinTech50 are headquartered in the U.K., three hail from Germany, two from Switzerland and one each from Ireland and Sweden. The judges for the FinTech50 are a panel consisting of 60 financial services professionals from banking, payments, venture capital, and public policy-making, among other relevant fields.

2017 marks the fifth year that FinTechCity has produced its roster of the most innovative fintech companies headquartered in the U.K. and Europe. The list is designed to focus on the technology innovations each company has developed rather than the amount of money the companies have made from their technologies.  In a statement at the FinTechCity website, the organization explains the sole criteria for inclusion in the FinTech50 as “the potential to become a game-changer or the competitive staying power to continue being one.”

Here are our winning alums for 2017.

Check out the full 2017 roster. FinTechCity also honored ten fintech startups in an honorable mention category, Hot Ten 2017. Ten companies have also been recognized as the founding members of the FinTech50 Hall of Fame, including Finovate/FinDEVr alums Currencycloud, eToro, Klarna, Nutmeg, TransferWise, and Zopa. Founded by Julie Lake (CEO) and Nicky Cotter, FinTechCity will also unveil the inaugural FinTech50 Asia later this year.

Algomi Acquires AllianceBernstein’s ALFA’s Fixed Income Liquidity and Analytics Tool


In a deal announced this week, Algomi, a company that offers tools for buy-side and sell-side trading in fixed income securities, has acquired ALFA (Automated Liquidity Filtering & Analytics) from AllianceBernstein. The acquisition includes the IP and technology behind ALFA as well as the brand name. As a part of the acquisition, AllianceBernstein is taking an undisclosed, minority stake in Algomi, as well as a seat on the company’s Board.

Originally developed as an in-house liquidity tool, ALFA is now called Algomi ALFA. The solution provides cross-market information on liquidity and trading to give the buy-side a real-time view of the entire bond market. Algomi, which AllianceBernstein selected via a competitive process to take over ALFA, will become the sole marketer of Algomi ALFA, which will be sold to buy-side fund managers.

At FinovateFall 2014, Algomi debuted Honeycomb, a buy-side GUI that helps investors see which dealer is best to facilitate illiquid block trades without disturbing the market. Founded in 2012, Algomi has 140 employees with offices in London, New York, and Hong Kong. Earlier this year, the company received a $10 million investment from Euronext, boosting its funding to more than $10 million after Thomson Reuters CEO Tom Glocer invested an undisclosed amount of capital in a 2016 round.

Finovate Alumni News

On Finovate.com

  • Market Earlybird Helps Market Professionals Identify Trading Opportunities First.
  • Additiv Lands $25.5 Million Investment
  • Algomi Acquires AllianceBernstein’s ALFA’s Fixed Income Liquidity and Analytics Tool

Around the web

  • Kony partners with KMC controls to bridge mobile apps and IoT
  • Clover now enables Android Pay’s Smart Tap
  • TickSmith releases a Python API for the new generation of financial data scientists
  • ID.me wins Trailblazer Award at 1st Annual K(NO)W Nodes Awards Show
  • Finextra: Google and PayPal partner for mobile shopping by fingerprint
  • ProfitStars introduces Automated Website Governance Solution
  • FinovateAsia Best of Show winner Finn.ai earns spot in Payments Canada’s pitch competition, Dragon’s Den.
  • OutSystems adds Tom Schodort and Bill Macaitis to its board of directors.

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

On Finovate.com

  • Coinbase Launches Open Source Ethereum Wallet to Promote Financial Inclusion.

Around the web

  • Expensify partners with TravelPerk to make business travel easier.
  • Bento for Business welcomes Lou Friedmann as Chief Revenue Officer.
  • Featurespace’s ARIC platform to power fraud prevention for GoHenry.
  • BBVA and Ripple complete blockchain cross-border money transfer pilot.
  •  Larky to power location-based perks platform for Sharetec’s CU clients.
  • Icon Solutions enhances Instant Payments Framework (IPF) to connect to The Clearing House for US Real-Time Payments.
  • Walletron helps Transactis grow its electronic billing and payments service, BillerIQ.
  • NICE Actimize unveils new, cloud-based, fraud analytics optimization technology, ActimizeWatch.
  • Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.
  • IBS Sales League recognizes Temenos as “number one best-selling digital and channels solution” worldwide.
  • Algomi teams up with OpenFin to deploy software updates faster.

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.

Euronext Invests $10 Million in Algomi; Expands Joint Venture Agreement

Algomi_homepage_March2017

Fixed income technology innovator and FinovateFall alum Algomi raised $10 million in funding today. The capital from Euronext is the company’s most recent investment since a 2016 infusion of an undisclosed amount from former Thomson Reuters CEO and current Algomi strategic advisor, Tom Glocer. Euronext’s minority stake in the company comes with governance rights and a included a decision to globally expand a 10-year joint venture agreement between the two companies announced back in November.

“This long term commitment to Algomi by Euronext cements our position in the market,” Algomi CEO and co-founder Stu Taylor said. “We are particularly excited by the access to the Euronext network of global regulated exchange and the liquidity opportunities this will provide our clients.” Underscoring the crucial challenge of liquidity when it comes to the fixed income markets, Taylor added, “(this) will allow us to bring Algomi’s unique bond information network to new parts of the credit market, something which has been very positively received by our existing bank clients.”

Algomi_stage_FF2014

Pictured: Algomi CEO Stu Taylor demonstrating Honeycomb at FinovateFall 2014.

Algomi specializes in technologies that optimize fixed income trading between sales professionals, traders, and clients. The company’s solutions collect and organize data points inside the FIs credit trading system and uses custom algorithms to drive the most appropriate fixed income trading opportunities to the most appropriate sales professional in order to facilitate the optimal, risk-free transaction. The company calls its buyside interface, Honeycomb, “smart marketing” that raises client marketing to the level of the highest quality online retailing.

Euronext sees the combination of Algomi’s technology and its own position as a leading exchange as a boon for both companies. Stephane Boujnah, Euronext CEO, cited the diversification of revenues and expansion into markets outside of Europe as upsides of a partnership he called “central to our fixed income ambitions and our wider FICC diversification plans as part of our ‘Agility for Growth’ plan.” Euronext’s Head of Fixed Income, Rates and FX, Paul Humphrey will join Algomi’s board of directors as part of the investment.

Founded in 2012 and based in London, Algomi demonstrated its technology, Honeycomb, at FinovateFall 2014. The company’s buyside GUI, Honeycomb promotes market efficiency by giving investors visibility into the ability of different dealers to move illiquid block trades without roiling the markets. The company’s co-founder and Chief Technology Officer, Usman Khan was listed as one of the “40 most exciting people in fintech in the U.K.” by Business Insider magazine last August, the same month the company introduced its SaaS, sell-side engine, Synchronicity. Last spring, Algomi teamed up with IPC Systems to support users of its Honeycomb technology. Algomi was named to FinTechCity’s FinTech50 for 2016 and was featured by Tech Tour in its 2016 Growth 50 of the fastest-growing technology companies in Europe.

Finovate Alumni News

On Finovate.com

  • LendUp Lands $100 Million Credit Facility.
  • LikeFolio Begins Licensing Brand-Mapping Database.
  • Euronext Invests $10 Million in Algomi; Expands Joint Venture Agreement.

Around the web

  • Yoyo hires former PayPal GM Simon Moran as first VP of Commercial.
  • Fiserv expands its Florida contact and servicing center by 22%.
  • Trustly partners with UATP to enable online bank payments for airfare.
  • NICE extends real-time authentication across all voice channels.
  • The Asian Review covers Ayondo’s upcoming listing on the Singapore Exchange.
  • Signifyd wins Finance Monthly’s 2017 Fintech Award for Fraud.

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

On Finovate.com

  • “P2P Lender Zopa to Launch Challenger Bank”
  • “Finovate/FinDEVr Alums Featured Among Monitise FINkit Platform Partners”
  • “Veridium Brings Hand Recognition Authentication to Mobile-Only Dutch bank, bunq”

Around the web

  • Co-founder of Markit, Rony Grushka, joins Algomi’s board of directors.
  • FinDEVr alum Quovo launches its account-authentication API.
  • Juvo teams up with Cable & Wireless to provide mobile credit services in the Caribbean.
  • Mastercard partners with Ratnakar Bank to launch Masterpass QR in India.
  • Thomson Reuters unveils its Thomson Reuters Pricing Service Evaluation Score (TRPS) to support pricing transparency.
  • LendingTree acquires credit card comparison and education provider, CompareCards.
  • Pirean wins security innovation of the year at the U.K.’s 2016 IT Industry Awards.
  • SafetyPay to power payment solutions for Payzoff.
  • NatWest deploys BioCatch behavioral biometrics technology.
  • Boku provides direct carrier billing in Japan for Spotify.

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

On Finovate.com

  • Live Safe and Prosper: The Themes of FinovateAsia 2016

Around the web

  • Algomi partners with Euronext to develop corporate bond trading network.
  • Fiserv adds SAS endpoint protection from CrowdStrike to its cyber security suite.
  • Top U.K. mobile wallet Yoyo picked by Caffé Nero for its mobile payment and loyalty rewards program.
  • Avoka unveils new analytics module, Transact Insights, to support digital account opening.
  • New partnership with Swisscom enables Boku to provide carrier biting for users of Spotify.
  • Overbond integrates fixed-income market-data from Thomson Reuters.

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.

7 Alum Leaders Named U.K.’s Coolest People in Fintech

BritishFlagBusiness Insider rounded up the 40 most exciting people in fintech in the United Kingdom. As it turns out, Brexit isn’t enough to shake the fintech scene in the U.K. In fact, according to KPMG, British fintech startups raised $962 million in 2015. Of that amount, London companies raised $743 million.

The list includes these seven leaders from Finovate and FinDEVr alumni:

Taavet Hinrikus, CEO and cofounder of TransferWise

Marta Krupinska, General Manager and cofounder of Azimo

Nikolay Storonsky, CEO and cofounder of Revolut

Giles Andrews, Executive Chairman and cofounder of Zopa

Peter Smith, CEO and cofounder of Blockchain

Usman Khan, CTO and cofounder of Algomi

Nick Hungerford, CEO and founder of Nutmeg

Check out all 40 leaders who made the list. Wonder how Business Insider made its selections? Here’s how the publication described its process:

We looked at who’s done cool and interesting things in the past year, including companies that have raised money or grown rapidly. We’ve also tried to include some of the less obvious names—the people doing great things behind the scenes—as well the faces out front.