FinovateSpring Sneak Peek: CUneXus

A look at the companies demoing live at FinovateSpring on May 8 through 11, 2018 in Santa Clara, California. Register today and save your spot.

The CUneXus lending and marketing automation platform completely eliminates the loan application, providing Perpetual Approval and instant, integrated loan activation at every banking touchpoint.

Features

  • Ground-up rebuild of the award-winning CUneXus 1-Click lending automation platform
  • Improved user interfaces, APIs, and third-party integrations
  • Faster implementation times and SaaS scalability

Why it’s great
CUneXus’ technology is leveraged by over 75 U.S. financial institutions to provide a truly unparalleled digital borrowing experience, and now averages over $6 million in new loan requests daily.

Presenters

Dave Buerger, Founder and Chief Executive Officer 
LinkedIn

 

 

John Reich, Founder and Chief Technology Officer 
LinkedIn

Finovate Alumni News

On Finovate.com

  • Kabbage Confirms: Orchard Acquisition Adds to Data Science Capabilities.

Around the web

  • Five payment originators from EU and Asia to take advantage of Ripple’s xVIA API to transfer money via RippleNet.
  • Klarna announces its integration with Magento Commerce as a Core Bundled Extension.
  • Avaloq acquires 10% stake in Swiss cryptocurrency firm Metaco.
  • Banesco USA picks nCino’s Bank Operating System to enhance its commercial lending process.
  • Symphony Software Foundation rebrands as FINOS, expands charter, adds new corporate members.
  • Kashoo receives a 5 Star Rating From FitSmallBusiness.
  • Jumio achieves record-breaking sales in Q1 2018, a 400% increase YoY.
  • Lending Club responds to the FCC’s complaint.
  • Alight Solutions leverages Personal Capital’s digital wealth management tools to launch WealthSpark.
  • Apple Bank selects Continuity for Compliance Change Management.

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 Look at CUneXus’ Strong Growth in 2017

Lending automation company CUneXus published some impressive growth stats today. Here’s a quick overview of a few of the California-based company’s success metrics:

  • Grew from 45 FI clients to 72 over the course of one year, from 2016 to 2017, a 60% year-over-year increase
  • Reaches more than 6.5 million potential end consumers across the U.S.
  • Averaging more than $6 million in new loan requests per day
  • Generated more than 140,000 loans totaling more than $2.5 billion with its 1-click borrowing solution

“These extraordinary end of year results reflect the excitement and momentum CUneXus generated in 2017, when we expanded our product line, announced new distribution channels and partnerships, and added dozens of new bank and credit union customers,” said CUneXus CEO Dave Buerger.

Among CUneXus’ clients are Credit Human, First American Bank, Digital Federal Credit Union, Redstone Federal Credit Union, Arizona Federal Credit Union, and CAP COM Federal Credit Union. These and other FI clients have reported that CUneXus has helped contribute to their own success, including:

  • Loan processing times cut in half
  • A 110% increase in pre-approved lending activity
  • A 135% spike in funded loan amounts

According to Buerger, the company has more product announcements, client deals, and partnerships in store. And, he added, “We’re on track to surpass $5 billion in loans by year-end 2018.”

CUneXus, which has been recognized as one of 20 startups to watch in 2017 by American Banker’s Fintech Forward, was launched to help lenders boost their loan volume by delivering a personalized customer experience clients have begun to expect. The company’s cplXpress platform delivers a “perpetual loan approval” that gives users the ability to borrow in a single click.

At FinovateSpring 2016, CUneXus debuted AutoXpress, a solution that enables pre-approved customers to shop car inventories at local dealerships from within their bank or credit union’s mobile app– all at pre-negotiated prices. The shopping experience, which is made possible through a partnership with Edmonds.com, enables users to shop for and submit a purchase request for vehicles remotely, without price haggling or going through a loan application process. Last summer CUneXus announced it teamed up with MeridianLink to power one-click loans for its clients.

Finovate Alumni News

On Finovate.com

  • A Look at CUneXus’ Strong Growth in 2017.
  • Avaloq to Power Private Banking for KASIKORNBANK.

Around the web

  • IdentityMind joins DataBroker DAO alliance.
  • NuData Security CEO Michel Giasson Named One of the Top 100 Influencers in Identity by One World Identity.
  • Guardian Analytics Announces AML Evidence Lake 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.

Spring Forward: FinovateSpring 2016 Alums Top $200 Million in Funding

FinovateSpring2016_scene

With FinovateSpring 2017 coming next month, we thought we’d take a look back at how the alums from our last spring conference a year ago have fared on the fundraising front.

And after a quick review, it seems that investors continue to be interested in the innovations of Finovate alumni. In fact, even without the $1.8 billion Golden Gate Capital spent on its acquisition of Neustar late last year ($2.9 million with debt included), the alums from FinovateSpring 2016 have had an impressive year of fundraising. While the specific funding amounts for a number of alums were not officially disclosed, our review shows more than $200 million raised by 20 FinovateSpring 2016 alums over the past year alone.

Among the bigger deals of the past year, the $72 million raised by OurCrowd stands out. OurCrowd, a crowd investing platform for venture capital, was founded in 2013 and is headquartered in Jerusalem, Israel. With a growing network of more than 17,000 investors, OurCrowd has raised $400 million on its platform, providing funding for 110 companies. Also noteworthy was the $29 million raised by FinDEVr/Finovate alum NYMBUS in two separate fundings in August and February. NYMBUS is an innovator in developing advanced, cloud-based core banking systems. Known as a “bank in a box” NYMBUS technology gives smaller banks and credit unions the ability to compete with larger FIs when it comes to providing customers with the latest digital banking services.

So to help get you ready for FinovateSpring 2017, here’s a list of the investments scored by alums from last year’s conference. And remember you can see live demos from all 20 of our fundraising FinovateSpring 2016 alums in our Video Archives.

February 2017

  • FinDEVr New York Alum NYMBUS Announces $16 Million in New Funding
  • Qumram’s Regtech Offering Lands $1.49 Million
  • Empyr Raises $3 Million in Funding

January 2017

  • ForwardLane Raises $1.1 Million in New Funding
  • Earnix Receives $13.5 Million in Growth Capital from New and Existing Investors

December 2016

  • Cyberfend Acquired by Akamai Technologies for Undisclosed Amount

November 2016

  • Sezzle Raises Seed Funding Ahead of Shopify Debut ($1.85 million)
  • Neustar Acquired by Golden Gate Capital for $1.8 Billion (including debt $2.9B)

October 2016

  • ThreatMetrix Picks Up $30 Million in Growth Capital from Silicon Valley Bank (debt financing)

September 2016

  • OurCrowd Pulls In $72 Million
  • WealthForge to Raise $2.5 Million in New Convertible Note Offering
  • OneVisage Earns Seed Funding in Round Led by Polytech Ecosystem Ventures (amount undisclosed)

August 2016

  • CUneXus Closes $5 Million Series A
  • Automobile Title Lending Platform Finova Financial Raises $52.5 Million
  • NYMBUS Raises $12 Million in Round Led by Vensure Enterprises

July 2016

  • Linqto Announces New Venture Funding from Keiretsu Capital (amount undisclosed)

June 2016

  • NICE Funding! CallVU Raises $3 Million
  • Civic Announces New Debt Financing from Blockchain Capital (amount undisclosed)
  • savedroid AG Completes €1 ($1.1 USD) Million Seed Round; Announces Beta Launch
  • Cyberfend Earns Undisclosed Non-Equity Assistance from MasterCard Start Path Global Program.
  • BanQu Secures $100,000 in Financing (convertible note)

Are you a FinovateSpring 2016 alums whose funding we missed? Send us an email research@finovate.com and we’ll be happy to make the update.

Finovate Alumni News

On Finovate.com

  • AutoGravity Earns Multi-Million Euro Investment from Daimler.
  • Roostify to Power Self-Serve Mortgage Platform for Chase Bank.

On FinDEVr.com

  • Payoneer Launches Cross-Border, Mass Payment APIs

Around the web

  • Northern California’s Kaiperm Diablo FCU to deploy core banking technology from NYMBUS.
  • Shopkeep integrates its POS technology with First Data’s Clover platform in extension of current partnership.
  • Arxan launches Arxan Application Protection for JavaScript to protect JavaScript-based applications.
  • CuBroadcast interviews CUneXus CEO Dave Buerger.

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.

CUneXus Closes $5 Million Series A

Screen Shot 2016-08-09 at 8.17.25 AM

CUneXus, creator of sales and marketing automation solutions for lenders, quietly closed a $5 million funding round late last week. Two investors contributed to the round; both prefer to remain anonymous.

The California-based company’s total raised is now $7 million. Regarding plans for the funding, CUneXus President and CEO Dave Buerger said, “The use of funds is twofold: (1) aggressive growth and the addition of key personnel, and (2) continuous product development and improvement.”

26921762650_306e7e405d_kDave Buerger, CUneXus president and cofounder, and Darin Chong, cofounder, presented at FinovateSpring 2016.

Since launching in 2011, CUneXus has built a host of solutions for online and mobile lending and cross-selling. At FinovateSpring 2016 the company announced its recent partnership with Edmunds.com and showed off AutoXpress, a vehicle purchasing experience that takes place completely online or on mobile. Prior to that, the company demoed features of its Comprehensive Prescreened Lending (CPL) engine, cplXpress, at FinovateSpring 2014 and 2015. The product suite allows banks to extend perpetual loan-approval status across multiple products to their clients.

Buerger noted that this is just the beginning and says that CUneXus has many exciting projects lined up for release in 2017 and beyond: “As enthusiastic as we are about our current product line, our development roadmap is packed with potential and additional opportunities. We’ve really just scratched the surface.”

Finovate Alumni News

On Finovate.com

  • Holvi and SumUp Join Forces to Serve SMEs and the Self-Employed
  • CUneXus Closes $5 million Series A

Around the web

  • Cybersecurity innovator DefenseStorm adds Libertyville Savings Bank and PrimeRevenue as clients.
  • Prasac, the largest microfinance institution in Cambodia, launches mobile banking services courtesy of TranzWare from Compass Plus.
  • Cachet Financial Services partners with the Central Bank of Kansas City to roll out a reloadable prepaid card program.
  • OutsideIQ Brings Due Diligence Platform DDIQ to New International Markets
  • TSYS EVP and CIO Patricia Watson writes about the importance of strong enterprise architecture in fintech for CIO Review.

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.

Where Are They Now? FinovateSpring Alums Raise More than $326 Million in a Year

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Last week we took a look at what the alums of FinovateSpring 2015 have been up to in the year since they demoed on the Finovate stage. Today, we’re focusing on the funding.

All $326 million of it.

Of the 72 companies that demoed at FinovateSpring 2015 in San Jose last year, 21 of them had raised capital within a year. Kabbage’s raise of $135 million certainly stands out. But the $25 million investment picked up by itBit in May of last year, as well as the $15 million raised by Trulioo and the $12 million raised by Moven were also major contributors to a strong fundraising performance from the Class of FinovateSpring 2015. And this doesn’t even include companies such as Yodlee, which was acquired by Envestnet for $660 million, or Aurora Financial Systems, bought by fellow Finovate alum, Finicity, for an undisclosed sum.

March 2016

January 2016

Dec 2015

October 2015

September 2015

August 2015

  • [M&A] Holy Yodlee! Envestnet to Buy Yodlee for $660 Million – video

July 2015

June 2015

May 2015

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FinovateSpring 2016 is less than a month away. Pick up your tickets today and save your spot at our upcoming spring conference in San Jose, California.

 

FinovateSpring Sneak Peek: CUneXus

CUneXus_homepage_April2016

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

AutoXpress by CUneXus and Edmunds.com eliminates the uncertainties and frustrations of car buying by instantly connecting a preapproved loan to real-time auto dealership inventory.

Features:

  • Seamless online and mobile banking integration
  • Access to real-time inventory at more than 13,000 auto dealerships nationwide
  • Locked-in, up-front pricing on specific vehicles

Why it’s great
An end-to-end, vehicle-purchasing solution inside online and mobile banking. Lender-approved and dealer-guaranteed. No haggling. No loan applications. Auto purchasing made easy—the way it ought to be.

Presenters: President and CEO Dave Buerger, LinkedIn; CTO John Reich, LinkedIn