Finovate Alumni News

On Finovate.com

  • “Xero Launches its New Android Touch App”
  • “Lending Club Reports Growth in Revenues, Originations for Q2 2015″
  • “CashStar Raises Captal: New Investment Boosts Total to $50 Million”

Around the web

  • Star Tribune column on robo-advisors features blooom.
  • ACI Worldwide and Computop partner to provide payments and anti-fraud solution.
  • Yodlee adds four companies to its International Acceleration Program. Join Yodlee at FinDEVr 2015 in San Francisco in October.
  • BankNXT’s look at fintech in Singapore features Dragon Wealth.
  • Let’s Talk Payments highlights Azimo, Currency Cloud, peerTransfer, TransferWise, and Ripple in its list of “remittance startups to watch for.”
  • CurrencyFair signs on with global payment network, Earthport.
  • LendUp deploys TaskRouter from Twilio to improve its call-center customer service. See Twilio at FinDEVr 2015 in San Francisco.
  • The Globe and Mail highlights Financeit in a look at financing options for small businesses.

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

  • “Dashlane Integrates Samsung Biometric Technology in Android App Upgrade”
  • “Revolut Launches to Public, Announces $2.3 Million in Funding”

Around the web

  • PYMNTS looks at OnDeck’s record-breaking quarter.
  • Red Herring names Kabbage a Top 100 Private Company.
  • Geezeo to power BankMobile’s PFM.
  • Alpha Payments Cloud using Snapcard to enable AlphaHub users to accept Bitcoin payments.
  • PrivatBank to offer remittance services courtesy of TransferWise.
  • StockViews earns a spot in the 2015 Startupbootcamp FinTech London cohort.
  • ING Bank Slaski launches ING Business for Apple Watch app powered by Comarch Mobile Banking.
  • Caltech Letter interviews Financeit CEO Michael Garrity.
  • The Indian Express profiles the biometric authentication technology of EyeVerify.
  • Aragon Research names eSignLive by Silanis Technology as a “Hot Vendor” in digital transaction management (DTM).
  • peerTransfer petitions Chinese government to open office in Shanghai.
  • The Independent looks at the IPO plans of Fenergo in light of the company’s recent funding.
  • Investment News highlights Vanguard, Wealthfront, and Betterment in a look at how much money is being managed by robo-advisors.
  • Spreedly surpasses $1 billion in annual payment volume. Come see Spreedly at FinDEVr, 6/7 October in San Francisco.
  • Expensify integrates with Workato to connect it with more than 50 business apps.
  • CheckPoint’s ZoneAlarm Launches Windows 10 Compatible Antivirus Software for Consumers.
  • The Mifos Initiative joins The Open Source Initiative, a global nonprofit that promotes and protects open source software, development and communities. Check out Mifos at FinDEVr 2015 in San Francisco, 6/7 October.
  • Stuart Frankel of Narrative Science earns a spot on Crain’s Chicago Business Tech 50.
  • USA Today column on personal finance for millennials features Kai Stinchcombe, CEO and co-founder of True Link.
  • Business Insider includes Lending Club and Coinbase in its list of the seven hottest startups in Silicon Valley.
  • Blooom and Future Advisor are profiled in a Forbes column on making the most out of your 401(k).

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

  • “Finovate Debuts: Dream Payments Solves Your Payment-acceptance Nightmare”
  • “Bill.com Unveils its iOS App for Small Business Owners”
  • “Malauzai Software Raises $11 Million in Venture Funding”

Around the web

  • Bloomberg: Barclays’s Michael Rake to Become WorldPay Chairman in September. See WorldPay at FinDEVr this October.
  • PaySimple introduces BookSimple, its cloud-based scheduling software.
  • Check Point partners with Vmware partner to bolster security in data centers.
  • Boston Business Journal: peerTransfer to open office in Shanghai, China, this year.
  • Bank Innovation reviews Narrative Science and its plans to enter the robot-advisor market.
  • Let’s Talk Payments interviews Ron Suber, Prosper President.
  • Credit Union Times features Rippleshot CEO and co-founder Canh Tran in its column on fraud detection for CUs.
  • Sang Lee, CEO of DarcMatter, quoted in RIA Biz column on robo-advisors.
  • PYMTNs.com profiles Kreditech as the company pursues Series C investment.
  • Belvoir FCU launches Belvoir Buck$ loyalty program courtesy of partnership with Larky.

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

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.

Finovate Alumni News

On Finovate.com

Around the web

  • After being acquired by Prosper in January, American Healthcare Lending has changed its name to Prosper Healthcare Lending.
  • Early Warning’s Authentify xFA wins Gold for Authentication Product of the Year at Info Security’s 2015 Global Excellence Awards.
  • Lighter Capital closes twice as many deals in Q1 of 2015 than it did in all of 2014.
  • On Deck expands small business lending in Canada.
  • Trunomi adds new chief architect, Kartik Venkatesh.
  • Tradier teams up with Apex Clearing Corporation to bring brokerage solutions to digital RIAs.
  • peerTransfer adds 56 new schools to its client base in Q1 2015, bringing its total to 650+ educational providers worldwide.
  • VentureBeat: PayPal brings its One Touch payments to the web.
  • Credit Karma wins gold medal in the Financial Services/Banking division at the 2015 Edison Awards.
  • UST Global and Kony launch new mobile app for Blue Cross of Idaho members.

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

  • D3 Banking unveils its new mobile app.
  • American Banker takes a look at itBit and its plan to become a trust company in New York State. See itBit at FinovateSpring 2015.
  • PYMNTS.com’s roundup of the “Mobile Wallet Wars” features LoopPay.
  • Everett Blog previews version 3.0 of Encap’s smart authentication solution.
  • Financial-SpreadBetting.com interviews Sarah Brylewski, managing director at Ayondo.
  • BioCatch and Mistral Mobile win spots on Red Herring 2015 Top 100 Europe. See Mistral Mobile at FinovateSpring 2015 in San Jose.
  • TradeHero releases version 3.1.0 of its Android app.
  • DRAFT featured at LaunchingNext. See DRAFT’s Finovate debut at FinovateSpring in San Jose next month.
  • NICE Systems partners with Capgemini to deliver a new Robotics Automation Hub.
  • Washington Business Journal interviews Blake Hall, CEO of ID.me.
  • peerTransfer to provide its international tuition payments service at another 56 educational institutions.
  • TechCrunch’s guest column on “industry convergence” in financial services highlights Telenor Banka.

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.

AlwaysOn’s OnFinance Top 100 Features 30 Finovate Alums

AlwaysOn_homepage

More than a quarter of the companies recognized in AlwaysOn’s first OnFinance Top 100 roster are Finovate alums.

The OnFinance Top 100 is designed to recognize the Top 100 private companies in fintech. The list was chosen by the AlwaysOn editorial team, along with several venture capital firms and industry experts. The criteria included degree of innovation, market potential, commercialization, stakeholder value, and “media buzz.”

The list is divided into six categories, and Finovate alums are well represented in each. Category winners will be announced at Always On’s event at the NASDAQ OMX in New York City at the end of April 2015.

Banking and corporate finance

Big data and analytics

Capital markets and investing

Digital currencies

Payment platforms

Personal finance management

Headquartered in Menlo Park, California, AlwaysOn was founded in 2003 by Tony Perkins, founder and editor of Red Herring magazine. The company serves as a networking and social media platform for technology professionals in variety of fields, and has a membership of more than 5,000.

Finovate Alumni News

  • Business Standard looks at the partnership between TradeHero and OANDA.
  • P2Binvestor reaches $50 million invoices-funded milestone.
  • Ripple Labs adds former State Department policy official, Anja Manuel, as advisor.
  • peerTransfer picks Digital River to provide payment processing.
  • Trustev Wins Most Disruptive Technology Award at SXSW.
  • WattzOn to participate in Georgetown University Energy Prize competition to help communities reduce energy consumption.
  • Toopher raises $200,000 of planned $300k financing round.
  • Fifth Third Bank launches online money movement solution from CashEdge.
  • Finovate Debuts: How Bitbond Leverages Bitcoin to Benefit Borrowers and Lenders.
  • Madrid-based Banco Mare Nostrum implements MicroStrategy as its analytics standard to drive analysis and insight for its employees.
  • American Banker features David Pinski’s move from a bank to a startup, Zumigo.
  • Payment Week interviews Cardlytics on how big data is changing consumer engagement.
  • American Banker: Ripple Labs hires Anja Manuel, a former U.S. State Department official, as company adviser.
  • Ovum names Kony a leader, recognizes it for its comprehensive cloud-based mobile solution.
  • ThreatMetrix enhances TrustDefender Mobile to help businesses meet new payment card industry data security standards.
  • Spring and All: FinovateSpring 2015 Presenters Revealed!

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.

PeerTransfer Secures $22 Million in a Round Led by Bain Capital

Peertransferlogo.jpg

PeerTransfer, a company that makes it easier for international students to pay their tuition bills, should now have an easier time paying its own bills, thanks to a new installment of funding. 

Today, the Boston-based company brought in a $22 million Series D round led by Bain Capital. Previous investors Spark Capital, Devonshire Investors, Accel Partners, and QED Investors also contributed.

The new installment, which almost doubles its previous total, brings peerTransfer’s total raised to $43 million. It plans to use the new capital to expand coverage and penetration at schools in Australia, Asia, Canada, the U.K., and U.S. and advance its payment platform.

Matt Harris, Managing Director at Bain Capital, will join peerTransfer’s board.

peerTransferHomepage.jpg

PeerTransfer enables students from 200+ countries and territories to pay their tuition and room & board using bank transfers and credit and debit cards on its payment platform. It is partnered with 600 schools across 10 countries.

Since launching in 2009, the company has processed over $1 billion in international payments and is adding 50 new clients per quarter. During the first half of the 2014/15 academic year, it doubled year-on-year revenue and reached profitability. Alex Finkelstein, General Partner at Spark Capital states that peerTransfer is poised for even faster growth and expansion.

As for the rest of the academic year, CEO Mike Massaro states that the company is on track to deliver $1 billion in cross-border payments processed for the full year. 

PeerTransfer recently won the 2014 BostInno’s 50 on Fire Award. It demonstrated its international payment solution at FinovateSpring 2011.

Alumni News– January 13, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNavy Federal Credit Union partners with Cachet Financial Solutions to offer Cachet’s Select Mobile Money with the its new GO Prepaid Card.
  • Azimo customers can now send money to the Philippines.
  • Pacific Marine Credit Union hires Insuritas to open and manage turnkey insurance solution.
  • Bezinga profiles “cloud-based virtual advisor” iQuantifi.
  • Deutsche Kreditbank AG and Blackhawk Network’s Retailo introduce digital gift cards to online banking programs.
  • ID Analytics Secures Patent for Identity Manipulation Detection System.
  • Taulia hires new CFO: Rik Thorbecke, former Meltwater Group CFO.
  • Xero introduces expense claim functionality, Receipts, for iOS (Android still in development).
  • TechCrunch: Google Cloud Platform Opens Its Cloud Monitoring Service To All Developers On Its Platform.
  • Let’s Talk Payments reviews multiple Finovate & FinDEVr alums’ payment APIs.
  • Forte’s Checkout Campaign earns Silver for the Best in Biz Marketing Campaign of the Year.
  • AnalytixInsight launches new mobile smart TV content licensing partnership.
  • PeerTransfer Secures $22 Million in a Round Led by Bain Capital.
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.