Finovate Alumni News

On Finovate.com

  • nCino Partners with Secure Trust Bank.
  • Onfido to Secure Drivers for India’s Largest Rideshare Company.
  • Dynasty Financial Partners Teams Up with Cash Management Innovator MaxMyInterest.
  • Continuity to Provide Compliance Tech for Affinity FCU.

Around the web

  • CREALOGIX to implement its mobile application platform for VZ Depotbank.
  • Trulioo extends its identity and business verification service to the Philippines.
  • OutSystems named Leader in Gartner’s Magic Quadrant for Mobile App Development Platforms for the second year in a row.
  • MBT Bank to deploy SilverLake System from Jack Henry & Associates.
  • Fairstone Financial converts consumer loan portfolio to Fiserv’s LoanServ real-time servicing platform.
  • Temenos taps Alexandre Menage as new Head of Sales for Africa.
  • Lendio announces 90% YoY quarterly revenue growth.
  • Blackhawk Network’s CashStar wins PayTech award for Best E-Commerce Initiative.

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.

CashStar Launches Digital Gifting Program with Belk Department Store

If you’ve been waiting to send a digital gift card for southern clothing styles, you’re in luck today. Digital gifting and incentives platform CashStar has teamed up with Belk, a North Carolina-based department store.

The agreement is two-fold. First, CashStar will offer Belk shoppers a personalized digital gift card experience with its CashStar Consumer platform. This platform enables Belk to offer a branded gift card experience for the purchaser and the recipient. Additionally, end clients can tailor their gift by selecting a design and adding a personalized message.

CashStar will also leverage its CashStar Product eGifting to help shoppers digitally send physical gifts. Product eGifting enables Belk shoppers to gift a product from Belk’s ecommerce site without knowing specific details such as the recipient’s preferred size, color and shipping address. Once the recipient receives an email with the gift information, they can personalize the gift or opt to receive an eGift card instead.

Founded in 2007, CashStar serves major brands such as SEPHORA, Starbucks, The Home Depot, Uber, and Walmart. At FinovateFall 2011, the company’s co-founder David Stone debuted a geolocation-based iPhone app that enables consumers to walk into a store and redeem credit card loyalty points in real-time in the form of a mobile gift card. Before it was acquired by Blackhawk Network for $175 million in October, CashStar had raised a total of $44 million.

Finovate Alumni News

On Finovate.com

  • Bluefin Buddies Up: Decryptx P2PE Network Grows to 50+ Connected Partners
  • Fiserv Teams with TransUnion to Enhance Automotive Loan Origination System
  • Azimo Brings Faster Money Transfers to Nigeria
  • eToro to Build Blockchain-Based Social Trading Products in Partnership with CoinDash
  • CashStar Launches Digital Gifting Program with Belk Department Store

Around the web

  • Mark Saltzman Interviews Flybits Founder & CEO on TD for Me (video).
  • API Evangelist features Streamdata.io.
  • LearnVest CEO Alexa von Tobel featured on NPR podcast How I Built This.
  • MapD unveils latest release featuring new geo heatmap , custom aliases, faster SQL sorts and more

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

Finovate Alumni News

On Finovate.com

  • NuCypher Raises $4.3 Million from Token Sale and VC Funds
  • Simility Adds PayPal as Strategic Investor in Latest $17.5 Million Fundraising

Around the web:

  • INETCO adds centralized switch application performance monitoring capabilities within the INETCO Insight software platform.
  • CFCU Community Credit Union Selects nCino to Boost Operational Efficiencies.
  • Blackhawk’s CashStar powers the launch of enhanced consumer gift card ecommerce program for Chico’s FAS
  • Tuition.io to power Student Loan Debt Reduction benefit to their Educational Assistance Program for MidWestOne Financial Group.
  • VentureBurn lists Entersekt as 1 of 8 12 South African startups to watch in 2018.
  • Vanguard turns to Symbiont smart contracts to simplify index data sharing process.

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

  • HooYu to Provide Verification Services for U.K. Challenger Bank Countingup.
  • Following J.P. Morgan Chase Acquisition, WePay to Power Payments for Volusion.

Around the web

  • Temenos named a leader in global retail core banking by Gartner for eighth year in a row.
  • Bloomberg looks at the blockchain-based digital identity solutions from SecureKey.
  • CBInsight features Expensify among its 4 Mobile Apps Every Executive Should Download Now.
  • CII Industrial Innovation Awards 2017 recognizes Wipro as one of India’s most innovative companies.
  • Zinnov Zones 2017 features Persistent Systems in the “leadership zone” for enterprise software and consumer software for the fifth consecutive year.
  • Blackhawk’s CashStar wins a 2017 Emerging Payments Award.
  • Capgemini names Backbase Growth Partner of the Year.
  • Neustar moves its website from Neustar.biz to Home.Neustar.
  • Lendio opens new Lendio franchise in Nashville, Tennessee

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.

Blackhawk Network Acquires CashStar in $175 Million Deal

With Blackhawk Networks’ $175 million acquisition of fellow Finovate alum CashStar, we may soon learn just how good digital gifting is going to get.

Talbott Roche, CEO and president of Blackhawk Network, said the deal “strategically enhances Blackhawk’s ability to provide the right digital solutions to our partners to meet the changing needs of business customers and consumers.” She added that the acquisition made Blackhawk “a leading provider in the fast growing, first-party digital (gift card) market.” CEO and president of CashStar Ben Kaplan added that the combination of CashStar’s platform and Blackhawk’s “product breadth and global reach” would deliver “more powerful capabilities and new revenue opportunities for our clients and partners.” The acquisition will make CashStar a part of Blackhawk’s digital and incentives business, with Kaplan remaining on board to manage the business.

The acquisition is an all-cash deal which Blackhawk CFO Jerry Ulrich said would be “at least earnings neutral in fiscal 2017 and meaningfully accretive after synergies in 2018.” Ulrich also anticipates the acquisition will “generate positive cash flow in 2018” as well as boost topline growth.

CashStar’s platform gives retailers the ability to market, sell, and distribute both plastic and digital gift cards. The company offers a Commerce platform for merchants and an Exchange platform for gift card distributors and loyalty program managers. Founded in 2007 and headquartered in Portland, Maine, CashStar demonstrated its Digital Gifting and Incentives platform at FinovateFall 2011. The company added real-time card activation, security improvements, and streamlined ordering in its last platform upgrade in July, and in May, CashStar’s Velocity B2B division helped global prestige retailer Sephora to introduce a B2B gift card program.

This spring, the company partnered with discount gift card marketplace Raise in a deal that will give the Chicago-based startup access to more than 250 merchants and 40 payment processors. CashStar had raised $44 million in funding previous to this week’s acquisition, most recently completing a $15 million Series D in 2015. The company’s customers include Starbucks, The Home Depot, and Uber.

Headquartered in Pleasanton, California, Blackhawk Network demonstrated its GoWallet solution at FinovateFall 2012. Last month, the company partnered with fellow Finovate alum PayNearMe, giving the cash transaction network access to Blackhawk’s retail partners. In May, the San Francisco Business Times recognized Blackhawk’s Roche with its Inspire Award as part of its annual “Most Influential Women in Business” initiative. Also honored by the Times was the company’s Chief Marketing Officer, Teri Llach. Blackhawk Network trades on the NASDAQ exchange under the ticker “HAWK” and has a market capitalization of $2.5 billion.

Finovate Alumni News

On Finovate.com

  • Avoka Reports Record Growth for Second Consecutive Year.
  • Blackhawk Network Acquires CashStar in $175 Million Deal.
  • Temenos to Power Cloud-Based Lifecycle Management Suite for Baxter Credit Union

Around the web

  • Jumio partners with Plynk to bring instant verification to Europe’s first money messaging app.
  • Alaska USA FCU chooses Ignite platform from banking solutions provider Jwaala.
  • Ondot Systems joins Symitar Vendor Integration Program (VIP).
  • Tavant Selected by Newfi Lending To Provide Next-Generation Digital Platform.
  • Plaid delivers bank account integration to enterprise developers.
  • Personal Capital Reaches $5 Billion in Assets Under Management.
  • PayPal launches Mastercard– it’s first cashback credit card offering.

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

  • You Know It’s Gonna Be Alright: Revolut Raises $66 Million Series B.
  • Finicity Inks Data Sharing Deal with JPMorgan Chase.
  • Fintech 71 Accelerator Application Deadline Less Than One Week Away.

Around the web

  • Forrester names Backbase a leader in digital banking solutions.
  • Alpha Payments Cloud earns Fin5ive Payments Award at BankTech Asia.
  • Let’s Talk Payments interviews SecureKey CIO Andre Boysen.
  • Finland-based Aktia goes live with T24 core banking system from Temenos.
  • FICO enables identification of fourth party risks with new Security Score upgrade.
  • iSignthis subsidiary iSignthis eMoney teams up with Worldline to provide Paydentity services in EU.
  • CashStar adds real-time card activation, improved security, and streamlined ordering in new platform upgrade.
  • Dream Payments opens Centre of Excellence in Moncton, New Brunswick.

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

  • Polly Portfolio Unveils Bespoke Custom Investing Platform for Financial Advisers”
  • “Top Direct-to-Consumer Wealth Tech Plays”

Around the web

  • CashStar announces digital gift card agreements with online marketplace OpenSky and Marcus Theatres.
  • Nasdaq.com profiles Moven, “the future of banking.”
  • Charlotte Business Journal names Passport among its Fast 50 award winners for its more than 475% revenue growth from 2013 to 2015.
  • Inc. lists Xero, Gusto, and PayPal among 8 business apps that will crush it in 2017.

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

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 that had to have raised at least $5 million. The survey also excluded 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.