Finovate Alumni News

On Finovate.com

  •  Luxoft Acquires UNAFORTIS to Broaden Client Base within Financial Services.
  • EVRY Announces Five-Year, $18.7 Million Deal with Finland’s Aktia Bank.
  • OurCrowd Opens Office in Spain, Lays Down Roots with Strategic Partnership.

Around the web

  • Trulioo launches its Global Business Verification service.
  • Diebold partnership with Transguard to expand service and technology offerings in the UAE.
  • Ethiopia’s Cooperative Bank of Oromia goes live with core banking solution from Temenos.
  • Pindrop Security leverages machine learning and a “customer consortium of shared fraudsters” to introduce Pindrop Protect 4.0.
  • Quovo unveils new account authentication solution, Autoverified Micro-deposits.
  • Xero partners with UK fintech Curve to automate expense management.
  • Zopa searches for new borrowers through Saffron Building Society loan partnership.
  • Sberbank, Russia’s Largest Bank, Announces Payment Solution.
  • DefenseStorm Renews SOC 2 Compliance.

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 Alums Earn Spots in European Fintech 100

Powered by collaborative Belgian innovation platform, B-Hive, and Dutch financial consulting firm, Alex van Groningen BV, the European Fintech Awards & Conference recognize fintech innovators working in a variety of areas ranging from the Blockchain/Bitcoin and Financial Inclusion to InsurTech and Payments.

The awards consist of a European Fintech 100 and a Top Three which will be selected from among the top three startups in each of the conference’s nine categories during a pitch contest at the end of September. Here are the Finovate alum finalists who will compete for top honors in their respective categories this fall.

Dorsum (FinovateEurope 2017)

  • Category: Innovative Banking Software
  • Founded in 1996
  • Headquartered in Budapest, Hungary
  • Róbert Kő is CEO and Founder

Meniga (FinovateEurope 2017)

  • Category: PFM / Robo Advisory
  • Founded in 2009
  • Headquartered in London, U.K.
  • Won Finovate Best of Show three times
  • Georg Ludviksson is CEO

Revolut (FinovateEurope 2015)

  • Category: Challenger Banks
  • Founded in 2013
  • Headquartered in London, U.K.
  • Nikolay Storonsky is CEO and founder

TWINO (FinovateEurope 2016)

  • Category: Alternative Finance
  • Founded in 2015
  • Headquartered in Riga, Latvia
  • Jevgenijs Kazanins is CEO

Below are the Finovate alums that have been named to the European Fintech 100.

 

 

 

 

See the full European Fintech 100 list.

Interested in fintech in Europe and the U.K.? Finovate brings its new, expanded format to London in February. With live demos on Days One and Two, and a diverse range of keynotes, panel discussions, and round tables with fintech professionals on Days Three and Four, FinovateEurope 2017 is an event you won’t want to miss. Visit our FinovateEurope page today to learn more and to take advantage of huge early-registration savings.

12 Alums Earn Their Place on Inc. 5000 List

Inc. released its lists of the fastest-growing 5,000 private companies in the U.S. and Europe this week. Eight Finovate alums made the U.S. list and four earned spots on the Europe list. To qualify*, companies were required to be privately-owned and independent.

Inc. 5,000 U.S.

Overall in the U.S., financial services companies saw a 151% growth rate, while IT services experienced 112% growth, security 171% growth, and software grew 134%. Out of the 5,000 companies listed in 28 industries, here are the eight Finovate alums that earned their place on the list:

Alkami Technology

  • Rank: 176
  • 2016 revenue: $11.9 million
  • 3-year growth: 24x
  • Founded: 2009
  • Employees: 192
  • Ranked number 11 in top software companies, number 8 in top Dallas companies, and number 13 in top Texas companies.

Alkami debuted under the name iThryv at FinovateSpring 2009 in San Francisco.

nCino

  • Rank: 361
  • 2016 revenue: $26.1 million
  • 3-year growth: 12.2x
  • Founded: 2012
  • Employees: 273
  • Ranked number 24 in top software companies and number 10 in top North Carolina companies.

nCino debuted its bank operating system at FinovateEurope 2017 in London.

Tango Card

  • Rank: 373
  • 2016 revenue: $10.6 million
  • 3-year growth: 11.6x
  • Founded: 2009
  • Employees: 57
  • Ranked number six in top Seattle companies and number six in top Washington companies.

Tango Card debuted its Rewards as a Service API at FinovateFall 2016 in New York.

Kabbage

  • Rank: 449
  • 2016 revenue: $172 million
  • 3-year growth: 9.8x
  • Founded: 2009
  • Employees: 325
  • Ranked number 24 in top financial services companies, number 14 in top Atlanta companies, and number 16 in top Georgia companies.

At FinovateSpring 2015, Kabbage debuted the Kabbage Card. Kathryn Petralia, the company’s President, Chief Operating Officer and Co-Founder, will be featured on our Digital Lending Summit panel on September 13. Register today to save your spot.

Lighter Capital

  • Rank: 634
  • 2016 revenue: $6.4 million
  • 3-year growth: 7.1x
  • Founded: 2010
  • Employees: 36
  • Ranked number 10 in top Seattle companies and number 11 in top Washington companies.

Lighter Capital debuted its Next-Generation Loan Analysis & Monitoring at FinovateFall 2013 in New York.

defi SOLUTIONS

  • Rank: 771
  • 2016 revenue: $11.4 million
  • 3-year growth: 5.9x
  • Founded: 2012
  • Employees: 59

defi SOLUTIONS showcased its loan origination solution at FinovateSpring 2014.

Cardlytics

  • Rank: 1069
  • 2016 revenue: $112.8 million
  • 3-year growth: 4x
  • Founded: 2008
  • Employees: 325

At FinovateFall 2013, Cardlytics showcased its geolocation application.

Payoneer

  • Rank: 1912
  • 2016 revenue: $100 million to $500 million
  • 3-year growth: 2x
  • Founded: 2005
  • Employees: 100 to 249
  • Is a five-time Inc. 5,000 honoree
  • Awarded as a Best Place to Work

Payoneer showcased its Commercial Account at FinovateAsia 2013.

Inc. 5,000 Europe

This is Inc’s third annual ranking of private companies in Europe, based on three-year revenue growth. In its analysis, Inc. ranked Paris, Romania, Sweden, Slovakia, and London as the top five regions with the highest number of fastest growing companies in Europe. Four Finovate alums landed on Inc.’s Europe list this year:

True Potential

  • Rank: 900
  • 2015 revenue: $52.6 million (€44.9 million)
  • 3-year growth: 6.9x
  • Founded 2010
  • Employees: 29

True Potential demonstrated impulseSave at FinovateFall 2014

Zopa

  • Rank: 909
  • 2015 revenue: $32.9 million (€28.1 million)
  • 3-year growth: 6.9x
  • Founded: 2004
  • Employees: 111

Zopa showcased its P2P lending platform at FinovateSpring 2008.

Fidor Bank AG

  • Rank: 4413
  • 2015 revenue: $35.5 million (€30.3 million)
  • 3-year growth: 2x
  • Employees: 148

At FinovateEurope 2011, Fidor Bank demonstrated its Fidor Pay account.

Truphone

  • Rank: 4183
  • 2015 revenue: $42.9 million (€36.6 million)
  • 3-year growth: 2.9x
  • Founded: 2001
  • Employees: 522

Truphone showed off Truphone Mobile Recording at FinovateEurope 2014.


*Other qualifying criteria include

  • Have started earning revenue by March 31st, 2013
  • Had revenue no less than $100,000 in 2013
  • Had revenue no less than $2,000,000 in 2016
  • Revenue in 2016 exceeds revenue in 2013

44 Alums Populate CB Insights’ Fintech 250 List

This week, CB Insights unveiled its Fintech 250 list. The research outfit selected 250 emerging, private companies in 17 sub-sectors of fintech that are changing the face of financial services. The roster includes 44 Finovate and FinDEVr alums that were selected using CB Insights’ data-driven process that analyzes company momentum, market participation, funds raised, and investor quality.

The list is in alphabetical order.

Algomi

AutoGravity

Avalara

Behalf

Betterment

Blend

Chain

Coinbase

Credit Karma

Currencycloud

CurrencyFair

Fenergo

Financeit

Gusto (formerly ZenPayroll)

Juvo

Kabbage

Kensho

Kreditech

Klarna

LendUp

Moneytree

PayNearMe

Payoneer

Personal Capital

Plaid

Quantopian

Quovo

Revolut

Ripple Labs

Roostify

Signifyd

SocietyOne

Socure

Tink

Token

Tradeshift

Transferwise

TrueAccord

Trulioo

VATBox

Wealthfront

Xignite

Zooz

Zopa

Finovate Alumni News

On Finovate.com

  • Scalable Capital Raises $33 Million in BlackRock-Led Series B.

Around the web

  • TSYS reups payments partnership with Tesco Bank.
  • Payoneer expands to the U.K., opening new office in London.
  • Zopa launches IFISA for tax free interest on up to £20,000 of their P2P investments.
  • ACI Worldwide to power Pan-European faster online payments.
  • PYMNTS talks with WePay Co-Founder Rich Aberman.

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

  • Fidor Solutions Brings on former ABN Amro Exec as CIO.
  • European Alums Shine in FinTechCity’s FinTech50 2017 Roster.
  • Klarna Receives Investment from Brightfolk
  • Newchip Helps New Investors Own a Piece of the Startup Economy.

Around the web

  • PSCU partners with Ethoca to improve CNP fraud loss recoveries for CUs.
  • Zopa opens development centre in Barcelona, Spain ahead of bank launch.
  • HedgeCoVest launches DEPLOY to handle day-to-day operations of separately managed accounts
  • StrategyCorps BaZing rewards-based mobile app has deployed nearly 400k geofences in conjunction with local deals
  • Western Union reveals pilot Coinbase integration.
  • DefenseStorm experiences 100% customer renewal rate for second consecutive year.
  • Moven fintech partnership wins CANSTAR Award for innovation excellence.

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

  • Expensify Exceeds 35,000 Customers.
  • Quisk’s Blockchain Buy-in Boosts Security, Improves Access to Transaction Data.

Around the web

  • Alternative investment intelligence provider Crowdsurfer adds data from P2P innovator, Zopa.
  • Misys introduces FusionCapital Regulatory Reporting to help banks comply with the MiFID II.
  • NuData wins CNP 2017 Customer Choice Award for Best Identity Verification/Authentication Solution
  • Agreement Express opens its new office in the City of London as part of their expansion strategy.
  • Developed in partnership with Moven Enterprise, Westpac New Zealand’s budget-tracking app, CashNav wins CANSTAR 2017 Innovation Excellence Award.
  • Customers of National Australia Bank (NAB) gain direct access to equity crowdfunding platform OurCrowd courtesy of new collaboration.

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.

Zopa Receives $41 Million Investment to Support Challenger Bank Launch

P2P lending pioneer Zopa just picked up $41 million (£32 million) in new funding that will go a long way toward helping the company prepare for the roll-out of its challenger bank later this year. “This investment gives us additional resources to continue our growth, support the launch of our next generation bank, and bring our award-winning products to even more people in the U.K.,” Zopa CEO Jaidev Janardana said. The round was led by Wadhawan Global Capital of India and European venture capital fund, Northzone. Zopa’s total funding stands at more than $111 million.

The investment arrives less than a month after Zopa earned full authorization for P2P lending from the FCA. This authorization was a necessary step for the company to launch its Innovative Finance ISAs, a new investment product with target returns of 6.1% that is scheduled to be available by mid-June. In May, Zopa also previewed Zopa Core, a P2P investment product with target returns of 3.9%. The solution is slated to debut in December and replace some of the company’s other offerings.

One small step toward offering IFISAs is also one giant leap toward Zopa’s goal of building a challenger bank. Last fall Zopa announced plans to launch a challenger bank that would complement the company’s P2P lending business by providing a broader range of financial services products – including FSCS-protected savings accounts and IFISAs. “We believe we are uniquely placed to re-define what people should be able to expect from personal finance products in the 21st century,” Janardana wrote, announcing the news of “next generation bank” at the Zopa blog in November.

Founded in 2007 and headquartered in San Francisco, California, Zopa made its Finovate debut in 2008. Over the past year, the company has enabled more than $1 billion (£800m) in personal loans in the U.K. In January, Zopa became the first P2P lender in Europe to top £2 billion ($2.5 billion) in loans facilitated.

Finovate Alumni News

On Finovate.com

  • KeyBank Acquires HelloWallet from Morningstar.
  • Zopa Receives $41 Million Investment to Support Challenger Bank Launch.

Around the web

  • Scalable Capital wins Financial Innovation of the Year from the Online Personal Wealth Awards.
  • MaxMyInterest introduces 1.31% preferred rate courtesy of new partnership with UFB Direct.
  • SumUp announces availability in more than 1,500 retail locations throughout Europe.
  • Tuition.io Awarded ISO 27001 Certification.
  • Econiq models conversation behaviors of top-performing employees to enrich the omnichannel customer experience for banks and insurers.
  • OANDA teams up with QuantConnect to launch new algo trading portal.

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

  • Xero Partners with Expensify for In-House Expense Management.
  • Kony and Diebold Nixdorf Enter into Strategic Partnership.
  • banqUP Previews its Bank-as-a-Platform Solution for European SMEs
  • Inside BBVA’s Open API Marketplace.

On FinDEVr.com

Around the web

  • PYMNTS.com features The CardLinx Association’s success.
  • Xero expands online-invoice payment options in Xero for Australia.
  • Zopa introduces flexible Innovative Finance ISA.
  • NelsonHall’s ‘Digital Transformation Services NEAT’ report lists NIIT Technologies as an ‘Innovator’.
  • Worldpay tests payments in virtual reality
  • Misys to power corporate banking, treasury and capital management (TCM) and trade finance operations for Amsterdam Trade Bank.

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.