Finovate Alums Among Top Investment Targets for Top European Banks

Earlier this year, CB Insights took a look at where fifteen of the top European banks were spending their investment dollars. The result is an interesting portrait of an industry appears very committed to three areas of fintech in particular: blockchain, financial services software, and Regtech. Of the 15 banks represented in CB Insights’ survey, all but one had invested in R3, the blockchain consortium, with ten banks investing in financial services software companies, and eight banks funding Regtech firms.

Also noteworthy is the presence of ten Finovate/FinDEVr alums among the investments. Symphony Software Foundation, an alum of our developer’s conference, FinDEVr, was the alum with the most support from among the 15 European banks. Santander was the bank with the broadest support among our alum community, backing six out of the 11 alums listed.

Kabbage (FinovateSpring 2015)

  • Founded in 2009
  • Headquartered in Atlanta, Georgia
  • Total Capital Raised: $488 million
  • Top European banks: Santander, ING

Personetics (FinovateFall 2016)

  • Founded in 2010
  • Headquartered in Tel Aviv, Israel
  • Total Capital Raised: $18 million
  • Top European bank: Santander

Prosper (FinovateSpring 2009)

  • Founded in 2006
  • Headquartered in San Francisco, California
  • Total Capital Raised: $355 million
  • Top European bank: Credit Suisse

Ripple (as OpenCoin, FinovateSpring 2013)

  • Founded in 2012
  • Headquartered in San Francisco, California
  • Total Capital Raised: $93.6 million
  • Top European bank: Santander

SaveUp (FinovateSpring 2014)

  • Founded in 2011
  • Headquartered in San Francisco, California
  • Total Capital Raised: $7 million
  • Top European bank: BBVA

SigFig (FinovateFall 2011)

  • Founded in 2007
  • Headquartered in San Francisco, California
  • Total Capital Raised: $60 million
  • Top European banks: Santander, UBS

Socure (FinvoateFall 2015)

  • Founded in 2012
  • Headquartered in New York, New York
  • Total Capital Raised: $29.4 million
  • Top European bank: Santander

SumUp (FinovateEurope 2013)

  • Founded in 2011
  • Headquartered in Dublin, Ireland
  • Total Capital Raised: $44.3 million
  • Top European bank: BBVA

Symphony Software Foundation (FinDEVr New York 2017)

  • Founded in 2014
  • Headquartered in Palo Alto, California
  • Total Capital Raised: $229 million
  • Top European banks: BPCE/Natixis, UBS, Deutsche Bank, Societe Generale, BNP Paribas, Credit Suisse

Tradeshift (FinovateEurope 2012)

  • Founded in 2010
  • Headquartered in San Francisco, California
  • Total Capital Raised: $182 million
  • Top European banks: Santander, HSBC

Tyfone (FinovateSpring 2008)

  • Founded in 2004
  • Headquartered in Portland, Oregon
  • Total Capital Raised: $13.4 million
  • Top European bank: Deutsche Bank

The analysis focused on fintech investments from 2012 through June 2017, and includes investments made by the venture arms of the banks shown.

SaveUp Purchased by Chicago-area Entrepreneur Paul J. Burt

SaveUp_homepage

SaveUp has officially been sold to Chicago-based entrepreneur Paul J. Burt.

SaveUp helps millennials and Gen Y consumers improve their personal finances through a combination of behavioral economics and gamification. Founded in April 2011 by the late Priya Haji and Sammy Shreibati, the company demonstrated its technology at FinovateSpring 2012 and again at FinovateSpring 2014, where it won Best of Show honors.

As part of the deal, SaveUp has been relocated from Silicon Valley to Lake Forest, Illinois. The purchase was made in December 31, 2014, and closed on April 8, 2015. Terms were not disclosed. SaveUp had raised $7 million in funding as of July 2012.

SaveUp_PaulJBurtPaul J. Burt is the founder and CEO of Westlake Financial Group, an employee benefits company for mid- to large-sized companies. The firm has more than 50 employees, and serves more than 150 corporate and healthcare clients around the country.

Burt is also the founder of an incubator program, Entanglement, also based in Lake Forest. Entanglement provides a forum for local students and community members interested in new technologies. He founded Cera Solutions in 2013, which developed a mobile employee-benefit onboarding solution.

SaveUp is free and available on both iOS and Android, as well as online at SaveUp.com. To use the platform, users link their credit, student loan, savings, and other accounts, and then earn points for every dollar they spend toward either reducing debt or growing savings. Points can then be used to play games and enter contests to win prizes, as well as compete for a $2 million jackpot.

Finovate Alumni News

On Finovate.com

  • AlwaysOn’s OnFinance Top 100 Features 30 Finovate Alums
  • SaveUp Purchased by Chicago-Area Entrepreneur Paul J. Burt

Around the Web

  • Turk Ekonomi Bankasi (TEB) launches digital banking service developed by Monitise.
  • Dragon Wealth earns spot in Startupbootcamp FinTEch’s inaugural Singapore program.
  • Ayeyarwady Bank (AYA Bank) to deploy Bankworld ATM platform from CR2.
  • Virtual Piggy hires Viant Capital to provide financial advice on strategic options.
  • MasterCard presents its PFM “in-reach” benefits-platform to help issuers engage millennials.
  • iQuantifi teams up with MTSU Jones College of Business to produce inaugural Millennial Money Mindset Survey.
  • Motif updates its iPhone app to enable search-and-browse capability of motif catalogues directly from the app.
  • FreeAgent launches first iOS app to help manage invoices and expenses on the go.
  • PYMNTS features predictions from Blackhawk Network, Bluefin Payments, CashStar, Experian, FIS, Fiserv, and SimplyTapp.
  • Xero Denver named Top Workplace by Denver Post.
  • American Banker examines how Malauzai is helping small banks get a head start on Apple Watch.
  • PayPal confirms bitcoin acceptance option in SEC filing.

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.

SaveUp CEO Priya Haji Passes Away at 44

SaveUp_hires_logo_FS2014

Finovate joins the fintech community in expressing our sadness at the passing of Priya Haji, CEO and founder of SaveUp. We extend our deepest condolences to her family, friends, and colleagues.

SaveUp co-founder and CFO Sammy Shreibati praised Priya as a “wonderful leader, innovator, and friend” in a statement confirming the news.

Priya_Haji_FS2014b
A socially-conscious entrepreneur from an early age, Priya founded a free health clinic while she was still in high school. In addition to earning degrees from Stanford University (BA) and University of California Berkeley (MBA) – and before founding SaveUp – Priya launched a company called World of Good. 
World of Good, acquired by eBay in 2010, is a fair trade and sustainable products marketplace for women artisans in the developing world.
A crowdfunding campaign at Fundly has been established to help provide support to her 11-month old daughter and two-year old son. Finovate has contributed to this fund.

FinovateSpring 2014: Lights! Camera! Demo Videos!

movie_clapperboard

The demo videos from FinovateSpring 2014 are now available in our Video Archive. Check them out here.

Here’s your chance to relive FinovateSpring 2014 in its new home in what was a very sunny San Jose. Every single video from the two-day event is here, arranged alphabetically from Artivest to Zumigo

You’ll see and hear every presenter, every screen capture, every device display (from mobile payment fobs to smart watches and Google Glass), and every innovation that our 67 presenting companies had to share.
And if you’ll be checking out our presenters for the first time, then sit back and enjoy our unique, demo-only format in action.
This is also a great opportunity to see (or see again) just what it took to win the hearts and minds of our audience of more than 1,200 fintech professionals who voted for Best of Show. As a reminder, our FinovateSpring 2014 Best of Show winners are below. Click on the company logo to see the award-winning demo.
EyeVerify_stageshot_BoS
Thumbnail image for EyeVerifyLogo.jpg
Loop_stageshot_BoS
Thumbnail image for Thumbnail image for Loop_logo.jpg
Interactions_stageshot_BoS
Thumbnail image for InteractionsLogo.jpg
Motif_stageshot_BoS
Thumbnail image for motiflogo.jpg
Ondot_stageshot_BoS
Ondot_hi_res_FS2014
PrivatBank_stageshot_BoS
Privatbank_hi_res_FS2014
SaveUp_stageshot_BoS
SaveUp_hires_logo_FS2014
Stockpile_stageshot_BoS
Stockpile_lores_logo_FS2014

Best of Show Winners from FinovateSpring 2014

Thumbnail image for FinovateSpring2014ButtonLogo.jpg

Our record-breaking audience has spent a hot two days in San Jose watching 68 demos covering the best in fintech.

After watching the 68 demoing companies show off their newest innovations on stage in front of the sold out auditorium, the crowd voted for their 3 favorite demos at the end of each day. The eight companies with the highest number of votes were crowned winners.

Here they are in alphabetical order:

Thumbnail image for EyeVerifyLogo.jpgEyeVerify, for its Eyeprint Verification technology that enables mobile biometric authentication

Thumbnail image for Loop_logo.jpg

Loop, for its smart mobile wallet system accepted at virtually every retail POS terminal without making changes to the existing POS system

Thumbnail image for InteractionsLogo.jpg

Interactions, for its voice-activated self-service solution for mobile and phone interactions 

Thumbnail image for motiflogo.jpg

Motif Investing, for its Advisor Platform that streamlines the way advisors build, monitor, and rebalance investment portfolios
OndotLogo

Ondot Systems, for its CardControl technology that allows users to remotely control their credit and debit cards via their smartphone

Privatbank_hi_res_FS2014

PrivatBank, for topless, contactless smartphone-enabled Android ATM technology

SaveUpLogo

SaveUp, for its Gen Y/Millennial-oriented solution that combines gamification with personal finance

stockpile_hi_res_FS2014

Stockpile, for their “give the gift of stock” solution that helps people invest in the brands they love  

As always, thanks for your continued support. See you next year at FinovateSpring 2015!
All of the demo videos will be available on Finovate.com in two weeks.

——————————————————————

Notes on methodology:  
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.     
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.    
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”  
4. The eight companies appearing on the highest percentage of submitted ballots were named Best of Show.  
5. Go here for a list of previous Best of Show winners. 

FinovateSpring 2014 Best of Show Winners

Thumbnail image for FinovateSpring2014ButtonLogo.jpg

Our record-breaking audience has spent a hot two days in San Jose watching 68 demos covering the best in fintech.

After watching the 68 demoing companies show off their newest innovations on stage in front of the sold-out auditorium, the crowd voted for their three favorite demos at the end of each day. The eight companies with the highest number of votes were crowned winners.

Here they are in alphabetical order:

Thumbnail image for EyeVerifyLogo.jpgEyeVerify, for its Eyeprint Verification technology that enables mobile biometric authentication

Thumbnail image for Loop_logo.jpg

Loop, for its smart mobile wallet system accepted at virtually every retail POS terminal without making changes to the existing POS system

Thumbnail image for InteractionsLogo.jpg

Interactions, for its voice-activated, self-service solution for mobile and phone interactions 

Thumbnail image for motiflogo.jpg

Motif Investing, for its Advisor Platform that streamlines the way advisors build, monitor, and rebalance investment portfolios
OndotLogo

Ondot Systems, for its CardControl technology that allows users to remotely control their credit and debit cards via their smartphone

Privatbank_hi_res_FS2014

PrivatBank, for topless, contactless smartphone-enabled Android ATM technology

SaveUpLogo

SaveUp, for its Gen Y/Millennial-oriented solution that combines gamification with personal finance

stockpile_hi_res_FS2014

Stockpile, for their “give the gift of stock” solution that helps people invest in the brands they love  

As always, thanks for your continued support. See you next year at FinovateSpring 2015!
All of the demo videos will be available on Finovate.com in two weeks.

——————————————————————

Notes on methodology:  
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.     
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.    
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”  
4. The eight companies appearing on the highest percentage of submitted ballots were named Best of Show.  
5. Go here for a list of previous Best of Show winners. 

SaveUp Debuts its “Gummy Vitamin” of Personal Finance on an iPhone App

SaveUpLogo

This post is part of our live coverage of FinovateSpring 2014.

Second up this afternoon, SaveUp debuted its iPhone app aimed at helping Millennials learn about and engage with their personal finances:
“SaveUp is the first rewards program for saving money and reducing debt with the opportunity to win life-changing prizes and merchant-funded rewards. SaveUp is the “gummy vitamin” of personal finance, generating unprecedented engagement with personal finance among Millennials. 
Six months after signing up, the average user links 6 – 8 accounts, and of these 20% are daily active users and 60% monthly actives. SaveUp users are engaged to learn about new financial products, seek financial guidance from CFPs, access financial education, and make better financial decisions. 
Personalization is based on data. SaveUp is a highly flexible, customizable platform that drives engagement and retention in different financial service verticals. SaveUp is premiering the iPhone app at FinovateSpring 2014.”

Presenting: Priya Haji (CEO & Co-Founder) and Sammy Shreibati (CTO & Co-Founder)

Product Launch: November 1, 2011
Metrics: The average user links 6 – 8 accounts, and of these 20% are daily actives and 60% are monthly active users.
Product distribution strategy: Direct to Consumer (B2C), through financial services channels including: banks, credit unions, digital wallet, prepaid, student loan, and employee wellness
HQ: San Francisco, CA
Founded: April 2011
Website: saveup.com
Twitter: @playsaveup

Finovate Alumni News– October 31, 2013

  • Finovate-F-Logo.jpgIntuit to acquire FullSlate, an online scheduling company.
  • Boku partners with PassportParking, enabling consumers to pay for parking using their mobile number, and billed to carrier billing statement.
  • American Banker comments on the savings strategies of SaveUp, Betterment’s ImpulseSave, and Social Money.
  • FIS study reports: Customer engagement in real-time payments requires mobility and convenience.
  • CurrencyFair featured in prime time on Irish television news.
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.

SaveUp Launches iPhone App to Take Savings Gamification Mobile

saveupLogo.jpg

SaveUp, the system that rewards you for saving money and paying off debt, is making it easier to access its platform. That’s because today, its free iPhone app is available in the Apple app store.

SaveUp’s web-based platform, which is protected by a 4-digit PIN, enables users to:

    • connect their financial accounts
    • track saving and debt repayment progress
    • use their credits to play for prizes on a daily basis
Prizes view
SaveUpmobilePrizes.jpg

View of users’ financial accounts
The San Francisco-based startup connects to more than 19,000 financial institutions.

SaveUpMobileExpenses.jpg

The majority of users log in to track their finances and play for prizes more than once per week.

To learn more about SaveUp, check out its live demo from FinovateSpring 2012.