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.

FinDEVr APIntelligence

FDNY17-Logo-RevFinDEVr New York will be here in just three short weeks! Check out company features and take a look at the previews from upcoming presentations. And of course, don’t forget to register today to save!

On FinDEVr.com

  • Barclaycard Brings Payment Functionality to Fashion Accessories.
  • NYMBUS Scores with $16 Million Investment Led by Home Credit Group.

Alumni updates

  • Arxan Technologies completes the Federal Information Processing Standard (FIPS) 140-2 validation process from the National Institute of Standards and Technology (NIST).
  • New APIs from Citi to help clients access network with existing treasury applications.
  • Report highlights Nymbus, as a key digital banking player.
  • The Co-operative Group to leverage ACI Worldwide for cloud-based mobile wallet.
  • Lleida.net wins 20-year European patent for its registered email technology.
  • Thomson Reuters enhances data analytics platform with ultra high-speed processing of real-time and historical data functionality.
  • Entersekt announces original equipment manufacturing agreement with transaction processing specialist, Global Kinetic.
  • BBVA to leverage mobile accounting opening technology from Oracle Communications.
  • FinDEVr veteran Hyperwallet adds former SecureNet Payments EVP, Mark Engels, as Chief Revenue Officer.
  • Best of Show winner AutoGravity forges new partnership with Westlake Financial Services to expand financing options for car shoppers.
  • The Paypers interviews Nicole Mantow, General Manager of EVO Payments, parent company of FinDEVr veteran, EVO Snap.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Finovate Alumni News

On Finovate.com

  • Lights! Camera! Action! Demo Videos from FinovateEurope Now Available.
  • BlueVine Lands $75 Million Line of Credit.

Around the web

  • Yoyo marks 10 millionth transaction milestone.
  • Jack Henry & Associates‘ Symitar division unveils its account opening self-service hub, SymApp.
  • New APIs from Citi to help clients access network with existing treasury applications. See Citi at FinDEVr New York in March.
  • Credit Union of Southern California ($1.2 billion) chooses Fiserv’s Architect digital banking platform.
  • SuiteBox introduces multi-signing of document functionality to its digital workspace technology platform.
  • Ledger releases the Nano S firmware 1.3.
  • Stoneham Bank to leverage Insuritas to launch insurance agency platform to drive fee income.
  • Report highlights Urban FT, Misys, Kony, Backbase, Infosys, Cachet Financial Solutions, and Nymbus, as key digital banking players.

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.

FinDEVr New York Alum NYMBUS Announces $16 Million in New Funding

Nymbus_homepage_February2017

In a round led by Home Credit Group, core banking technology innovator NYMBUS raised $16 million in new capital. The funds build on the $12 million the FinDEVr/Finovate alum raised in the second half of last year, bringing its total capital to $28 million.

NYMBUS executive chairman Scott Killoh pointed to reliance on outmoded legacy core technology as holding back many institutions in the financial services industry. Because of this, he said “tens of thousands of banks and credit unions are not capitalizing on strategic growth opportunities.” The investment from Home Credit Group will help NYMBUS provide FIs with the modular, third-party friendly core banking technology that will enable them to keep pace with the demands of their customers. NYMBUS President David Mitchell called it “helping … implement digital-first strategies in order to drive customer growth and competitive differentiation.”

NYMBUS_stage_FDNY16

Pictured: NYMBUS President David Mitchell during his presentation “NYMBUS: The Next Evolution in Core Processing” at FinDEVr New York.

Founded in 2015 and headquartered in Miami Beach, Florida, NYMBUS presented “The Next Evolution of Core Processing” at FinDEVr New York last year, during which Mitchell explained why the company decided to focus on core processing technology. “If I asked who in this audience has a pager or a Walkman,” Mitchell told the attendees at last year’s event, “not too many people are going to raise their hands. “But community banks right now are on 30-year old, 20-year old technology,” he said. “(It’s) the oldest technology in the world. It’s been lipstick on a pig, mainframes, green screens for 20 or 30 years.”

NYMBUS, in contrast provides an advanced, core processing platform, SmartCore, with a wide variety of APIs, customizable UI, a conversion layer, and an ecosystem of banking apps. The platform keeps all critical banking functions in a single system with a single sign-on and data set. Home Credit International Group Head of Special Projects Miroslav Boublik called NYMBUS “best positioned to stand at the core” of the disruption of the traditional banking model today. “NYMBUS’ technology is both many years ahead of traditional banking system vendors and most viable among emerging (fintech) providers,” Boublik said.

Earlier this month we shared news of the company’s partnership with California’s Kaiperm Diablo FCU to deploy its core banking technology, SmartCore. Kaiperm Diablo’s announcement comes just a few months after Pennsylvania-based CHROME Federal Credit Union reported that it would use SmartCore as part of its goal of transitioning to a digital-first credit union. NYMBUS has also been an active acquirer, buying Sharp BancSystems, KMR, and R.C. Olmstead in the summer of 2016. Also a veteran of Finovate, the company demonstrated its technology at FinovateSpring 2016.

Finovate Alumni News

On Finovate.com

  • Switch Announces Early Access to Online Card Account Management Platform.

On FinDEVr.com

  • Excited to see Softjourn at FinDEVr New York on March 21 & 22. Check out our interview with Project Manager Yuriy Kropelnytsky.
  • NYMBUS Scores with $16 Million Investment Led by Home Credit Group.

Around the web

  • Lleida.net wins 20-year European patent for its registered email technology.
  • Savedroid adds money-saving, AI-based algorithm to its personal finance app.
  • Payworks provides SIX Payment Services with mPOS solution, mCashier.
  • Thomson Reuters enhances data analytics platform with ultra high-speed processing of real-time and historical data functionality.
  • France’s PayPlug to deploy ACI PAY.ON Payments Gateway from ACI Worldwide.
  • Entersekt announces original equipment manufacturing agreement with transaction processing specialist, Global Kinetic.
  • Affinity CU becomes “trusted sign-in” partner in SecureKey Concierge.
  • BBVA to leverage mobile accounting opening technology from Oracle Communications.
  • GMC Software awarded the Xplor Application of the Year Award.
  • Striata named a Visionary in Gartner Magic Quadrant for Customer Communication Software.
  • Signifyd joins Salesforce Partner Program.

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.

FinDEVr APIntelligence

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On FinDEVr.com

  • Payoneer Launches Cross-Border, Mass Payment APIs.

Alumni updates

  • FinDEVr veteran Hyperwallet adds former SecureNet Payments EVP, Mark Engels, as Chief Revenue Officer.
  • Best of Show winner AutoGravity forges new partnership with Westlake Financial Services to expand financing options for car shoppers.
  • The Paypers interviews Nicole Mantow, General Manager of EVO Payments, parent company of FinDEVr veteran, EVO Snap.
  • PayPal Acquires TIO Networks in $230 Million Deal.
  • Thomson Reuters Labs’ latest data science lab opens in Singapore.
  • Bluefin Payment Systems powers payment processing solution for ticketing and ecommerce platform, AudienceView.
  • Mitek to provide AML and KYC compliance technology for European blockchain firm, Nocks.
  • AutoGravity Earns Multi-Million Euro Investment from Daimler.
  • Northern California’s Kaiperm Diablo FCU to deploy core banking technology from NYMBUS.
  • Arxan launches Arxan Application Protection for JavaScript to protect JavaScript-based applications.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

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.

Finovate Alumni News

On Finovate.com

  • Seattle-Based Finagraph Completes $5 Million Financing.

Around the web

  • TSYS inks agreement to process debit transactions for Virgin Money’s U.K. customers.
  • Marcus by Goldman Sachs deploys Infosys Finacle core banking technology.
  • FIS to offer Early Warning’s Zelle Network P2P service as part of real-time payments package.
  • Corezoid achieves Amazon Web Services (AWS) Financial Services Competency status.
  • Cachet Financial Solutions rolls out prepaid mobile-money-platform upgrade.
  • Tradeshift launches two new joint ventures in China to meet demand for supply-chain digitalization.
  • Cortera launches Cortera Decisions, a new automated scorecard platform.
  • Taulia to power supply-chain finance solution for Exostar.
  • CHROME FCU taps NYMBUS for SmartCore digital banking.
  • Ripple hires former CME Group executive Miguel Vias as head of XRP (extended resource planning) markets.

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

  • “The Best of FinovateAsia 2016 in Photos
  • “Sezzle Raises Seed Funding Ahead of Shopify Debut”

Around the web

  • PayNearMe to power cash payments at Oklahoma Turnpike Authority.
  • IBM to launch 4 new data centers in the U.K.
  • NYMBUS partners with QTS Realty Trust to enable financial institutions to move legacy core systems to NYMBUS’s private cloud.
  • Compass Plus enabled processing center Quipu to reach 100% service availability in 2015.
  • PYMNTS.com takes a look at the challenges facing Prosper and its incoming CEO David Kimball.
  • Trustly hires new Head of People Operations, Ulrica Falkenberg.
  • HVAC manufacturer Mestek to offer Student Loan Genius benefit via Prudential.
  • Lighter Capital ranked #4 in Puget Sound Business Journal’s list of fastest-growing private companies in Washington state.

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

Around the web

  • IBS Journal Interviews David Mitchell, NYMBUS president.
  • Startland interviews EyeVerify CEO Toby Rush on hiring plans, global expansion.
  • PayPal and Vodafone partner to facilitate contactless payments in the U.K.
  • GreenKey Technologies begins rollout of new mobile app that will offer hard turrets through existing hardware and infrastructure.
  • nanoPay using Liberty Village as a working lab for its MintChip digital currency.

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.