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.

Finovate Alumni News

On Finovate.com

  • Worldline Buys First Data Baltics for $85 Million.
  • Symbiont Announces Strategic Investment from Medici Ventures.

Around the web

  • Benzinga features SuperMoney, LendUp, Credit Sesame, Capsilon, & BeSmartee as companies revolutionizing lending.
  • HuffPost features Jeana Deninger, ‎Chief Operating Officer at CoverHound.
  • BellaDati announces BellaDati IoT Cloud for the exploration of real-time data from Cross Domain Development Kit XDK of Bosch Connected Devices.
  • Symphony Software Foundation now counts more than 50 projects, 100+ contributors, 4 working groups, & 25 members.
  • Roostify helps First Cal Cut Loan Process to 15 Days.

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

  • Caxton Leverages the Blockchain to Provide Faster, Safer, API-Free Connectivity.
  • Trulioo and the RegTech Revolution: How Smaller Teams Tackle the Compliance Challenge.
  • CUneXuscplXpress to Power One-Click Loans for MeridianLink.

Around the web

  • Symphony Software Foundation announces its latest Gold Member, Ipreo.
  • BBVA unveils open API marketplace.
  • Fiserv launches cybersecurity for digital banking solution, SecureNow.
  • Trustly partners with Nordic online fashion retailer, Boozt.com.
  • AutoGravity wins 2017 North American Frost & Sullivan Entrepreneurial Company of the Year Award.
  • Fonetic and Actiance partner for trade reconstruction.
  • IHS Markit launches Outreach360 platform on Counterparty Manager.

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

FDNY17-Logo-RevFinDEVr New York will be here in less than one week! 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

Alumni updates

  • Citi introduces new mobile passcode solution for its Treasury and Trade clients. See Citi at FinDEVr New York next week.
  • Putnam-Greene Financial Corporation to deploy core banking technology from Fiserv. Join Fiserv in New York next week for FinDEVr New York.
  • Capital One Financial Corporation appoints Amy Lenander as UK CEO.
  • Barclaycard adds free Uber ride as reward for loyal cardholders. See Barclaycard next week at FinDEVr New York.
  • OutsideIQ partners with SAP Ariba to help corporations quickly screen vendors for risk and regulatory compliance.
  • FinDEVr alum Capital One joins the chatbot revolution with its new SMS virtual assistant, Eno.
  • Currencycloud Collects $25 Million in New Funding.
  • BBVA Compass unveils BBVA Momentum, a seven-month accelerator for socially-minded entrepreneurs.
  • Kabbage nabs $500M for small business loans.
  • Fidor partners with Van Lanschot to create the first PSD2-inspired Payment Avenue.
  • MX to power digital money management tools for Travis CU.

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

FinDEVr Preview: Symphony Software Foundation

FinDEVr PreviewsFDNY17-Logo-Rev highlight companies presenting new developer tools, platforms, and integrations at FinDEVr New York 2017, March 21 & 22. Tickets are on sale now. Visit our registration page and save your spot today.

With Symphony Software Foundation, you’ll learn how to deliver a compliant, open source bot or integration on Symphony within minutes through the Symphony Software Foundation Open Developer Platform.

Screen Shot 2017-03-15 at 8.42.38 AM

Why it’s a must-see:

Embracing open source is the key to agile development and delivery. See how the open source Symphony framework combined with the Open Developer Platform allows you to build your own integrations in a matter of minutes.


Check out more previews of upcoming FinDEVr New York 2017 presentations and don’t forget to register before it’s too late.

Finovate Alumni News

On Finovate.com

  • SWITCH Lands $400,000 Angel Investment.

On FinDEVr.com

Around the web

  • Customers can now host Actiance Vantage on Microsoft Azure
  • Handpoint launches EMV Tip Adjustment feature for MPOS.
  • Financial Times reports: Starling Bank strikes money transfer deal with TransferWise
  • ShopKeep expands into online ordering and delivery with ChowBOT acquisition.
  • Narrative Science launches Narratives for Business Intelligence API.
  • Strands to power PFM for Kenya’s largest bank, Commercial Bank of Africa.
  • Citi introduces new mobile passcode solution for its Treasury and Trade clients. See Citi at FinDEVr New York next week.
  • BBVA to focus on identity, AI, and “fintech for companies” in ninth installment of its Open Talent innovation competition.
  • Cachet Financial Solutions aims to raise more than $9 million in initial public offering this week.
  • Following its platform limit announced in December, Zopa has set up a waiting list for new prospective investors.
  • Capital One Financial Corporation appoints Amy Lenander as UK CEO.
  • Putnam-Greene Financial Corporation to deploy core banking technology from Fiserv. Join Fiserv in New York next week for FinDEVr New York.
  • PaySwag to power mobile loyalty and instant rewards to the underbanked for Sionic Mobile.

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

  • Lendio Brings the Franchising Model to Small Business Lending.
  • Excited to see Symphony Software Foundation at FinDEVr NY March 21 & 22. Check out our interview with Executive Director, Gabriele Columbro.
  • Scotiabank and AlphaPoint Wrap Up Blockchain Trial.

On FinDEVr.com

  • RSVP for FinDEVr’s International Debut.
  • PwC Brings Blockchain PoC to London’s Specialty Insurers.
  • Shwayhat Steps Up: Greenkey Technologies Announces New CEO.

Around the web

  • Vantiv to provide payment processing for Tyndall FCU ($1.3 billion in assets). See Vantiv at FinDEVr New York this month.
  • Scalable Capital recognized as only European startup on CNBC Upstart 25 roster.
  • Wealthify lowers minimum investment to £1.
  • Mambu goes live in the Americas with new offices in Miami and new regional managing director.
  • Trustly processes more than €3 billion in payments in 2016, announces UK expansion.
  • Fiserv Expands Contact and Servicing Center into Florida.
  • Yandex Money brings bankers onboard.
  • D+H Mortgagebot named HW Tech100 winner.

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 Preview: Symphony Software Foundation

FinDEVr PreviewsFinDEVrSV16-LogoV2(wdate) highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, 18/19 October. Tickets are on sale now. Visit our registration page and save your spot today.

Symphony Software Foundation (SSF) will show how enterprise collaboration has been historically dominated by proprietary platforms, especially in highly regulated industries like FinServ. Learn how SSF is building an open ecosystem that fosters industry-wide collaboration, enabling your firm to stay on top of the FinTech revolution.

screen-shot-2016-10-12-at-10-46-52-am

Why it’s a must-see
Learn how open source in general, and the Symphony Software Foundation specifically, are accelerating growth of the ecosystem around the Symphony Communication Platform, while also delivering innovation faster and at a lower cost.


Check out more of today’s FinDEVr Previews:

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.