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Recently in Kabbage Category

  • Finovate-F-Logo.jpgTuition.io brings in funding, surpasses $1 billion in loans under management.
  • eWeek talks to Pindrop Security about scams during tax season.
  • PYMNTS.com chats with miiCard CEO James Varga about identity theft.
  • Financial Samurai interviews FutureAdvisor CEO, Bo Lu.
  • Lending Club raises $115 million in debt and equity; acquires Springstone Financial.
  • Kabbage blog features Expensify in its list of the 10 best mobile apps 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.
Thumbnail image for FinovateSpring2014ButtonLogo.jpg

It is hard to believe that it is almost time for FinovateSpring 2014.

There's still plenty of time for you to get your tickets to our upcoming event in San Jose, California on April 29 and 30. Our final Sneak Peek preview post is up, all the companies who were prepping under the radar are now out of stealth, and we can't wait for you to see what this year's spring crop of fintech entrepreneurs and innovators has in store.

Before we do, however, let's take a moment to take a look back at last year's FinovateSpring alums. As we scrolled through blog archives, several themes jumped out: the appetite for startups remains as passionate as ever, with three of our Spring 2013 alums being acquired by such financial sector potentates as Intuit and PayPal. And venture capitalists continue to see innovation in this space as a more than worthwhile investment, with 20 separate fundings for Spring 2013 alums

We've grouped the achievements into four categories: Exits, Fundings, Awards, and Acquisitions. Enjoy!



EXITS

  • Jack Henry buys Banno for undisclosed sum
  • The rumors are true: eBay's PayPal acquires Braintree for $800 million in cash
  • Intuit buys tax planning/preparation specialist GoodApril
  • TaxAct acquires Balance Financial
FUNDINGS

  • CardFlight secures $1.6 million in seed funding from ff Venture Capital
  • Encap earns seven-figure investment from ProVenture Seed
  • EyeVerify earns $2.3 million in Series A funding
  • Jemstep raises $4.5 million in Series A round
  • Kabbage brings in $270 million in debt financing to provide small businesses with funding of their own
  • Kabbage brings in $75 MIllion in debt financing
  • Leaf raises $20 million from Heartland Payment Systems
  • Alternative lender LendUp raises $14 million in new funding
  • D3 Banking creator Lodo Software Brings in $3 million
  • Narrative Science secures $11.5 million in Series C funding
  • OpenCoin wins investment from Google Ventures, IDG Capital Partners
  • P2BInvestor raises $1.2 million in Series A round
  • PayNearMe leverages Family Dollar Partnership; raises $20 million
  • PayNearMe raises $10 million in Series D funding, launches Express Merchant Onboarding Option
  • Prestadero raises 5 million pesos ($400,000 USD) in first round of funding
  • Quantopian raises $6.7 million in Series A round
  • Realty Mogul raises $9 million in round led by Canaan Partners
  • SeedInvest raises $2 million in crowdfunded investment campaign
  • SeedInvest Raises $1 million in round Led by Jumpstart New Jersey Angel Network
  • Zooz Closes $2 million Series A round Led by XSeed Capital
AWARDS

ACQUISITONS

  • OpenCoin acquires SimpleHoney
  • Kofax acquires data integration software provider Kapow Technologies
  • NICE to acquire Causata to enhance customer experience management

Finovate Alumni News-- April 11, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFinovateSpring 2014 Sneak Peek: Part 6 is now up.
  • Jumio partners with IdentityMind to provide anti-money-laundering Bitcoin compliance for exchanges.
  • FIS launches GenNOW to make it easier for mobile and prepaid card users to access their funds from FIs.
  • Aon Hewitt and HelloWallet partner to help employers bring financial wellness to their workforce.
  • PayPal partners with Samsung to enable users to pay with their fingerprint, launches app for smartwatches.
  • Blackhawk Network recognized for Best Prepaid Innovation at Innovation Project 2014 conference awards.
  • CU Times looks at Citizens Business Bank's success with Guardian Analytics' fraud prevention tools.
  • App Developer Magazine looks at Lighter Capital's RevenueLoan.
  • Birdback and Affiliate Window bring the ease of online offers to offline retailers based in Europe.
  • Betterment's mobile app makes mobile PIN login available for users.
  • Bill.com wins Monarch Innovation Award in Innovative Industry Partner category.
  • BizJournals profiles Kabbage co-founder and COO, Kathryn Petralia.
  • American Express Open Forum takes a look at ZenPayroll. See them demo at FinovateSpring in San Jose.
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.
KabbageLogo.jpg

Further highlighting Forbes' point that the traditional banker is dead, small business financing company Kabbage announced today it received a revolving, 3-year line of debt financing, totaling $270 million.

The funds, which were provided by Guggenheim Securities, will be used to supply small businesses with working capital, both in the U.S. and internationally.

This new installment comes a year after the Atlanta-based company received $75 million in debt financing from Victory Park Capital and Thomvest Ventures.

Kabbage has seen an increasing demand for small business financing, both for web-based businesses and brick-and-mortar stores. The Wall Street Journal commented on its growth, reporting:

"In the last 15 or so months, default rates have dropped by more than 50%.... while Kabbage's business has grown five-fold. The company aims to provide $1 billion in credit to businesses next year."

Rob Frohwein, CEO, hinted that growth has been so dramatic that the company expects to pull in more financing soon. In an interview with TechCrunch, Frohwein comments on the funding, stating:

"Yes, this is a large facility, but looking at our growth rate, it's something that we will need to look at again in a reasonably short period of time, believe it or not."

To learn more about Kabbage, check out its live demo from FinovateSpring 2013 where it debuted its QuickBooks Financing Platform.

Finovate Alumni News-- March 19, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgPing Identity announces partnership with Courion.
  • Desert Schools FCU to deploy mobile banking platform from Monitise.
  • Blue Cross and Blue Shield of Kansas City to use virtual agent technology from IntelliResponse to respond to Affordable Care Act queries. See IntelliResponse demo at FinovateSpring in April.
  • ID Analytics launches new versions of its Transaction Protector and Transaction Advanced Intelligence products for eCommerce.
  • Upstart Business Journal looks at how Kathryn Petralia and Kabbage are rewriting the lending rules.
  • BlinkMobile Interactive signs first NZ Council deal.
  • Southern Alpha calls iQuantifi "a budget platform we actually like to use."
  • Payment Source features Jason Richelson, founder of ShopKeep POS.
  • Bill Harris, Personal Capital CEO & former PayPal CEO discusses the future of PayPal on Bloomberg TV. See Harris demo Personal Capital's latest development at FinovateSpring next month.
  • TradeKing earns four-stars in Barron's online broker rankings for eighth consecutive year.
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.
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Fresh off their Finovate debut, Irish-based real-time ID verification innovator Trustev is the latest winner in the SXSW Accelerator awards in the Enterprise and Big Data category.

"It couldn't have come at a better time,"Trustev CEO Pat Phelan said in an interview with News At One. "I'm just moving to the U.S. to head up the U.S. launch of the business."

Trustev_homepage_2.jpg

More than 1,000 companies applied for this year's SXSW Accelerator. Forty-eight were selected to compete for 18 spots in the competition's final round.

This year marks the sixth year of the event, held in Austin, Texas as part of the annual SXSW Music Film Interactive. Previous Accelerator participants include Klout (2009) and Siri (2010), as well as Finovate alums Kabbage (2011), OneID, and Toopher (both 2012).

Trustev_Twitter_SXSW.jpg
A specialist in online fraud detection, Trustev serves more than 100 customers in five countries, and has raised more than $3.5 million in seed and angel funding. The company recently announced a partnership with Datameer, a big data analytics firm, that will help them further enhance the capabilities of their fraud detection system.

Trustev was named Europe's Top Technology Startup by the EU Commission, and was recognized as one of the Hottest Global Startups by Forbes magazine. See the company in action in their video from FinovateEurope in February here.

Finovate Alumni News-- February 27, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMountain America CU chooses ProfitStars' ImageCenter and Enterprise Payment Solutions.
  • TSYS renews payments agreement with Commerce Bank.
  • ProfitStars announces partnership with OnDeck to deploy LendingNetwork platform.
  • Wealthfront's automated investment advisory service goes mobile with new app.
  • Arroweye's 2013 performance reveals 25% growth & 60%+ increase in open loop card fulfillment compared to 2012.
  • SpendMatters covers Tradeshift's and Taulia's divergent yet converging cases and value propositions.
  • Tradeshift raises $75 million, plans to open office in Tokyo.
  • Andera upgrades software to enable mobile applicants take photos of their driver's licenses during the application process to populate data fields automatically.
  • Kabbage now extending more than $1 million per day in funding to small businesses.
  • Kony and AirPlug partner to deliver enterprise-grade mobile solution to mobile network operators.
  • CashStar wins Digiday Retail Award for achievement in online retail marketing and advertising.
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-F-Logo.jpgKabbage expands platform to serve all SMBs: online, brick-and-mortar, and services businesses.
  • Spend Matters interviews Taulia's Markus Ament on its discounting philosophy, e-invoicing, and ERP.
  • Gartner recognizes Backbase CXP as being at the forefront of UX design and mobile development support.
  • Washington Federal picks Fiserv's DNA account processing platform.
  • Digital Mailer adds eight new financial institutions to its My Virtual Strongbox service.
  • Experian launches real-time data sharing service for UK credit providers.
  • Genesis Financial chooses ACI Worldwide to power multichannel call center and eLockbox payment options.
  • LegacyTexas Bank of Plano to work with Digital Insight to deploy online and mobile banking solutions. See Digital Insight demo at FinovateEurope next week.
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.
  • DailyFinance looks at Kabbage's "war" on banking.
  • Blackhawk Network powering Mobile Money by T-Mobile.
  • Credit Sesame launches mobile credit dashboard for easy credit and financial monitoring.
  • Actiance launches Alcatraz, a cloud-based archive that combines a focus on context with the traditional requirements of an email archive.
  • New York Bankers Association endorses Gremln.
  • Service2Media unveils version 4.4 of M2Active mobile app development platform.
  • Ping Identity CEO Andre Durand featured in Xconomy column on University of Colorado at Boulder's New Venture Challenge program.
  • Be sure to check out the latest installment of our FinovateEurope 2014 Sneak Peek series.
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-F-Logo.jpgPersonal Capital "zips past the $350 million mark," reports growth rates of +10% month-over-month.
  • Inc. features Kabbage's growth & how it has extended $200+ mil in funding to SMBs in just 2.5 years of operations.
  • FINalternatives looks at P2P lending growth and evolution, including Lending Club and Prosper.
  • Ovum research report highlights ACI Worldwide's leadership in payment switching industry.
  • MarketWatch features Better ATM Services in report on the next generation of ATMs.
  • CSI globalVCard named a finalist in two categories in 2014 Stevie Awards.
  • RTE News takes a look at Irish fintech startups including CurrencyFair and Trustev. Watch Trustev demo its technology at FinovateEurope 2014.
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.
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Last year, Forbes selected four Finovate alums for its "America's Most Promising Companies" roster.

This year, Forbes picked five.

Lending Club is back, the veteran of last year's list climbing from a #12 ranking in 2013 to a #5 in 2014. Also returning is On Deck Capital, which soared from a #94 ranking last year to an #11 ranking this year.

When you look at the other alums to make the 2014 roster, it is clear that success in the lending  and capital-raising businesses are what bring in the votes over at Forbes. In addition to Lending Club and On Deck Capital, there is Kabbage coming in at #37. 

Thumbnail image for Thumbnail image for LendingClubLogo.jpg
Rank: #5
Revenue: $98 million
Employees: 379

ondeck_logo_new.jpg
Rank: #11
Revenue: $65 million
Employees: 240

Thumbnail image for KabbageLogo.jpg
Rank: #37
Revenue: $17 million
Employees: 80

Thumbnail image for CashStar.jpg
Rank: #81
Revenue: $16 million
Employees: 88

Thumbnail image for QuantopianLogo.jpg
Rank: #98
Revenue: $0
Employees: 12

Finovate Alumni News-- January 9, 2014

  • Thumbnail image for Finovate-F-Logo.jpgGartner's Web Access Management Marketscope Report gives Ping Identity a positive rating.
  • Moven, LendUp, Kabbage, and Xero are featured in a Wall Street Journal article on alternative lenders and social media.
  • CAN Capital raises $33 million from Meritech Capital, Accel Partners.
  • PenFed is now offering Mortgage Harmony's One Click rate reset protection.
  • Lighter Capital closes 39th financing with Influence Technologies.
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.
Thumbnail image for KabbageLogo.jpg

Kabbage is the latest company to decide that it really is hip to be Square, after all.

The SME online lender announced that it will now use transactional data from companies that use Square to process payments as a tool for helping allocate capital and make loans.

The use of Square data for underwriting purposes is novel, according to Kabbage. Company co-founder and CEO Rob Frohwein credits the platform's "flexibility and power" in describing Kabbage's ability to "leverage the broadest range of business data sources ... to (make) funding simple and accessible to small business everywhere."


kabbage_homepage.jpg
Kabbage is a pioneer in the field of online small business lending. The Atlanta-based company specializes in analyzing data from actual business activity, from shipping data and seller channels to social media. This enables the lender to know more about their potential borrower than is often discovered using traditional credit modeling methods. A partnership with Intuit provides "under 7 minute" funding decisions for customers who use QuickBoooks.

Kabbage was most recently in the headlines with news of its partnership with Xero. The deal allows Kabbage to use small business accounting data as part of the basis for underwriting decisions. The company also announced earlier this year that it had integrated with Stripe to make it easier for companies that process online payments to apply for financing.

Kabbage demoed its technology as part of the FinovateSpring show in San Francisco this spring. See the company in action here.

Finovate Alumni News-- December 4, 2013

  • BBVA Compass announces launch of BBVA Research iPad app.
  • Bank Innovation column on fintech in Israel features TipRanks and Payoneer.
  • Emida launches Handset and SIM Programs.
  • BancVue and other Credit Unions Help U-Haul Refinance Corporate Debt.
  • Prosper's daily average loan originations grew almost 10% in November over October.
  • The Next Web reports: PayPal launches a digital gift store, featuring Apple as its sole launch partner.
  • City of Gig Harbor Launches on doxo; More than 5% of Residents Go Paperless in the First 90 Days.
  • Forbes: Kabbage Now Uses Square Data to Provide SMB Funding.
  • Mint is now available on Windows 8.1 and Windows Phone 8.
  • btcQuick Bitcoin Exchange working with miiCard to mitigate fraud.
  • EyeVerify interviewed on The Kansas City Power Lunch radio program.
  • IntelliResponse wins bronze in Best in Biz Awards' Most Innovative Product of the Year category for 2013.
  • Intuit to purchase document startup company, Docstoc.
  • American Banker features Zaydoon Munir, founder of RevolutionCredit.
  • ACI Worldwide adds new executives, open new South American HQ in Sao Paolo, Brazil.
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.
  • Kabbage launches iPhone app out of test market.
  • PC Mag includes Dashlane on list of the 50 best free iPhone apps of 2013.
  • Financeit brings in $13 million in series A funding.
  • TSYS Director of Innovation Chris Colson talks about the launch of their Idea Center.
  • Intuit launches Apps.com, a small business app store, and an updated QuickBooks Online API.
  • FIS to power Bharatiya Mahila Bank Ltd., the first women-focused public sector bank in India.
  • Fiserv wins top honors at Mobile Money Global and Mobile Excellence Awards with Popmoney P2P payments service.
  • TechCrunch reports that Google Wallet customers will soon have the option of physical, prepaid Wallet cards.
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-F-Logo.jpgPayPal partners with Revel systems for its physical POS device.
  • TechCrunch interviews Ping Identity Founder, Chairman, and CEO Andre Durand.
  • Comarch launches mobile business banking solution in the U.K.
  • Looking for an app to manage your money? USA Today suggests solutions from three Finovate alumni: Manilla, Mint, and Check.
  • StreetFight features Leaf among its list of 5 mobile payment platforms with integrated marketing solutions.
  • Encap announces partnership with ForgeRock to bring multifactor intelligent authentication to OpenAM.
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-F-Logo.jpgValidSoft releases latest addition to the VALid suite of telecommunication based security products, Zero Latency Correlation.
  • Kabbage partners with Xero to provide SMBs capital based on their online accounting data.
  • Faces of Innovation features Wade Arnold, Banno CEO.
  • FIS Global signs agreement to market ARM Insight's Prepaid Management Platform.
  • MasterCard announces partnership with Parkeon to provide merchant offers, loyalty services via smart parking terminals.
  • PYMNTS.com interviews ZooZ VP for business development, Noam Inbar.
  • ISO & Agent talks about Moolah LLC's deployment of Leaf's LeafPresenter POS tablets.
  • SmartyPig announces CorePro, the next generation of its savings solution which helps companies integrate savings accounts into their existing solutions.
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.
KabbageLogo.jpg

Two Finovate alums are joining forces to better provide online small businesses with working capital.

Atlanta-based Kabbage announced yesterday that it has partnered with New Zealand-based Xero to use small business' accounting data to underwrite loans.

XeroLogo.jpg

Through this partnership, Xero's customers will be able to receive an answer on an underwriting decision in fewer than 10 minutes.

This is Kabbage's fourth major underwriting and distribution partnership in the past six months. Integrations with Authorize.net, Quickbooks, Stripe have also provided enhanced ways to underwrite small business loans.

Kabbage debuted its Quickbooks financing platform at FinovateSpring earlier this year.

Xero showcased its Business Identification method at FinovateSpring 2011.

  • Finovate-F-Logo.jpgAmerican Banker reports: Cardlytics Announces First U.K. Bank Customer. Come watch Cardlytics' live demo at FinovateFall in NYC next week.
  • IBM partners with Monitise to provide software, technology services and consulting to improve Monitise's core services.
  • NPR's Tell Me More mentions ImpulseSave, Mint, and Manilla as 3 apps to help manage your money.
  • TSYS signs long-term payment processing agreement with Anovia Payments, LLC.
  • Check (formerly Pageonce) secures $24 million in Series C financing round.
  • Information Week highlights Credit Sesame and Kabbage in column on social media and credit worthiness.
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-- August 20, 2013

  • FinovateLOGO.jpgFinovateFall 2013 Sneak Peek Part 3 is up. Get to know more about this year's innovators.
  • Interactions chooses Edward Durkin for Chief Financial Officer. See Interactions demo at FinovateFall in New York.
  • Mercury Payment Systems to support PayPal in-store payments thanks to new collaboration.
  • IDology partners with AssureSign as primary authentication solution for advanced identity verification.
  • Kabbage integrates with Stripe to allow businesses that process online payments to apply for financing.
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.
KabbageLogo.jpg

Provider of working capital for online small businesses, Kabbage, is making it more convenient to access necessary working capital today with the launch of its free iPhone app.

The Atlanta-based startup's online platform can deliver up to $50,000 in a matter of minutes to qualified borrowers. They can use the app to:

  • Access cash
  • View their balance
  • Make transfers to Kabbage
Here's a look at some screenshots:
KabbageApp3.jpg

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To learn more about Kabbage, watch its FinovateSpring 2013 demo.

Finovate Alumni News-- August 8, 2013

  • FinovateLOGO.jpgKofax announces completion of Kapow Technologies acquisition.
  • ACI Worldwide cites role of their Universal Payments Platform in net new bookings growth for 2013 in this week's Q2 report.
  • The New York Times looks at Lending Club, Prosper, Zopa, On Deck, SocietyOne, and Kabbage as significant lending platforms.
  • Finextra reports: PayPal trials new geolocation payment service in London.
  • Leadfusion launches new RESPONSE interface for Premium Financial Tools.
  • Finect Founder Jennifer Openshaw moderates Best Practices in Compliant Social Media webinar. See Finect demo at FinovateFall 2013 in New York.
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-F-Logo.jpgERN raises another $1 million, acquires two UK companies.
  • Expensify announces additional approval modes.
  • TMC selects Interactions' Virtual Assistant applications for a 2013 Speech Technology Excellence Award.
  • The Financial Brand looks at NeoBanks: Moven, Simple, GoBank.
  • Reuters article features Wealthfront as a platform of choice for how millenials manage money.
  • MasterCard partners with United Bank for Africa to provide Nigeria's first personalized debit card.
  • BrightFunds announces that it is now an official contributor to Triple Pundit.
  • The Economist talks with TransferWise co-founder Taavet Hinrikus about technological innovation in Estonia.
  • Kabbage and On Deck Capital both featured in Fit Small Business column on raising money for an existing business.
  • Allied Payment Network partners with Access Softek to provide Picture Pay mobile bill pay technology.
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-F-Logo.jpgKeyBank names ProfitStars software operations strategic partner of the year.
  • Payment Eye interviews Currency Cloud CEO, Mike Laven.
  • Checkpoint Technologies partners with Mobile Labs.
  • Zopa sets record for P2P Lending in UK, amassing a total £20m lent for July.
  • ACI Worldwide again wins SWIFT Certified Application accreditation for its ACI Money Transfer System.
  • Meet the Innovators of FinovateFall 2013.
  • Kabbage announces it's made 80k advances over 2 years, with an advance volume 4X higher than nearest direct competitor.
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.
AOGlobal2503.jpg

This year, 12 Finovate alums were selected among 250 other winners in the AlwaysOn Global 250 awards, and two Finovate alums were identified among 50 other Companies to Watch.

The awards honor the top 250 U.S.-based private tech companies, plus recognize 50 to watch. Some of the underlying themes in this group of 300 innovative companies include mobile technology, cloud-based solutions, and social network integration.

Here are the 12 Finovate alum winners of the 250 Awards, listed in alphabetical order:

BillFloat

    • Category: B2B Applications- SaaS and Enterprise
    • Headquarters: Lexington, MA
    • Founded: 2005
    • CEO: Tom Beecher
    • Total funding: $21.2 million
    • FinovateFall 2011 demo video
    • Category: Consumer Internet
    • Headquarters: Atlanta, GA
    • Founded: 2009
    • CEO: Rob Frohwein
    • Total funding: $53.7 million (plus $91.7 million in debt funding)
    • FinovateSpring 2013 demo video
    • Category: B2B Applications- SaaS and Enterprise
    • Headquarters: New York, NY
    • Founded: 2007
    • CEO: Noah Breslow
    • Total funding: $102 million
    • FinovateSpring 2012 demo video
    • Category: B2B Applications- SaaS and Enterprise
    • Headquarters: Denver, CO
    • Founded: 2002
    • CEO: Andre Durand
    • Total funding: $78 million
    • FinovateEurope 2012 demo video
Placecast 
    • Category: B2B Applications - Mobile
    • Headquarters: San Francisco, CA
    • Founded: 2005
    • CEO: Alistair Goodman
    • Total funding: $8 million
    • FinovateSpring demo video
    • Category: B2B Applications- SaaS and Enterprise
    • Headquarters: San Jose, CA
    • Founded: 2005
    • CEO: Reed Taussig
    • Total funding: $36.2 million
    • FinovateStartup 2009 demo video
    • Category: Consumer Internet
    • Headquarters: Redwood City, CA
    • Founded: 1999
    • CEO: Anil Arora
    • Total funding: $116 million
    • FinovateFall 2010 demo video
Here are the two listed in the Companies to Watch category:

All companies were selected by industry experts in the following organizations:

  • The AlwaysOn editorial team
  • Morgan Stanley
  • KPMG
  • GSV Capital
  • Greylock
  • Google Ventures
  • New Enterprise Associates
  • Flybridge Capital Partners
  • Accel Ventures
  • Bridge Bank
  • Venrock
  • SV Angel
  • Roth Capital Partners
  • Intel Capital
  • Menlo Ventures
  • Khosla Ventures
  • FirstMark Capital
  • Doll Capital Management
  • Benchmark Capital
  • Cooley
  • GGV Capital
  • Finovate Alumni News-- July 1, 2013

    • FinovateLOGO.jpgCorduro teams up with LendUp to provide loans to help pay for medical expenses.
    • Entrepreneur Handbook reports on EZBOB's 12-month loan for online retailers.
    • CrowdFundBeat features SeedInvest and its new feature, SeedInvest Groups.
    • TSYS announces completion of NetSpend acquisition.
    • Banking Technology takes a look at LICUOS and the company's win of Innotribe Startup Disrupt at Next Bank Madrid.
    • SafetyPay and GlobalCollect partner to advance secure Int'l payment solutions to over 300 million consumers.
    • Navallo.net interviews BillGuard CEO Yaron Samid.
    • SecondMarket expands into Bitcoin.
    • Virtual Piggy teams up with Live Gamer.
    • AG Beat describes why Kabbage and other alternative lenders will remain prevalent.
    • miiCard wins award for Technology Innovation in Financial Services at the 2013 ScotlandIS Digital Technology Awards in Glasgow.
    • BlinkMobile Interactive announces partner agreement with Linktech Solutions.
    • Pymnts.com interviews CSI Enterprises CEO, Keith Stone, on recent updates to the company's globalVcard platform.
    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-- May 28, 2013

    • FinovateLOGO.jpgChris Larsen, CEO and co-founder of OpenCoin, calls Ripple, "HTTP for money" in CoinDesk feature.
    • Credit Union Times: ProfitStars' Director of Strategic Insight Lee Wetherington talks credit unions and big data.
    • Kalixa Group teams with MasterCard to test prepaid card.
    • Barron's Electronic Investor column on Quantopian now available to non-subscribers.
    • Mateo's Tech Travels reviews TransferWise.
    • Business Insider hosts Dwolla CEO Ben Milne in Startup Lab interview.
    • One of the largest financial services corporations in the world invests more than $4.6 million for software, maintenance and professional services with Kofax.
    • American Banker reports: Kabbage's Fresh Idea for Small Business Finance.
    • TIBCO announces launch of Cloud Bus, a subscription-based Integration Platform as a service (iPaaS) offering.
    • BellaDati opening partner network in Russia.
    • IP Commerce closing payment processing service on June 30.
    • M2CASH rebrands as V2PAY, now offers electronic ID verification, virtual loan solutions, virtual cards & virtual merchant services.
    • Billhighway adds Kids Kicking Cancer as client.
    • Comarch to provide reference, market data to SIX Financial Information.
    • Standard Chartered launches VISA Infinite Credit Card with chip and PIN technology.
    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.

    Press.jpg

    Last week's FinovateSpring 2013 received great coverage through blogs, tweets and articles. Here are the highlights:

    Full conference live blogs
    ---------------

    Three contributors risked carpel tunnel to cover all 72 demos. Thanks to Erin McCune and William Mills III and Phillip Ryan for going the extra mile!

    Bank Innovation
    by Phillip Ryan
    FinovateSpring recap and ratings
    Day one morning recap
    Day one afternoon recap
    Day two morning recap
    Day two afternoon recap

    PaymentsViews
    Live Blogging Finovate Spring 2013 San Francisco
    by Erin McCune 

    William Mills blog
    Live Blog: FinovateSpring 2013 San Francisco by William Mills III-DAY ONE
    by William Mills III


    Other coverage
    -----------------------------------------------------------------------------------------------------------
    Affluent Strategies
    What About the Overbanked?
    by JP Nicols

    American Banker
    5 Most Intriguing Companies at Finovate
    by Sean Sposito

    Bank Security Top Focus at Finovate

    Banno Launches Data-Analytics Marketing Feature
    by Sean Sposito

    Crowdfunding Startups Pose New Competition to Commercial Lenders
    by Sean Sposito

    EyeVerify Rolls Out Authentication Service for Mobile Banking
    by Brian Browdie

    GoBank to Go Live on the Fourth of July
    by Sean Sposito

    The Buzz at Finovate: New Security Tech
    by Sean Sposito

    Bank Marketing Strategy
    Musings of a Finovate Virgin
    by Jim Marous

    Bank Systems & Technology
    Digital Marketing Solutions Stand Front and Center at Finovate Spring
    by Jonathan Camhi

    Banking 2020
    FI Spotlight: USAlliance FCU Sees Cross-Selling Success

    Barron's
    Algorithms for the Masses
    by Theresa W. Carey 

    Bloomberg Businessweek
    Kabbage Expands Its Cash Advances to Brick-and-Mortars
    by Patrick Clark

    Celent
    How to give a killer Finovate presentation
    by Dan Latimore

    Credit Union Magazine
    Finovate Unveils Best of Show Winners

    Finovate Highlights Industry's Best and Brightest
    by Steve Rodgers

    Look into the Future of Finance
    by Steve Rodgers

    Scenes from FinovateSpring 2013
    by Steve Rodgers

    Credit Union Times
    5 Things You Don't Know Because You Weren't at Finovate
    by Robert McGarvey

    Onsite Coverage: Finovate Crowns the Winners
    by Robert McGarvey

    Onsite Coverage: New Security Tools Take Finovate Stage in Numbers
    by Robert McGarvey

    Onsite Coverage: No Clear Winners at Finovate Day 2
    by Robert McGarvey

    Threat of the Week: DDoS Back at You
    by Robert McGarvey

    Tomorrow's Ideas Spark Interest But Fail to Excite
    by Robert McGarvey

    Des Moines Register
    Banno launches marketing product for banks
    by Marco Santana

    Ecommerce Bytes
    ZooZ Lets Mobile Shoppers Tap an Ad to Buy
    By Ina Steiner 

    FamZoo blog
    My Finovate Scorecard Winners Plus Snarky Tweet Highlights
    by Bill Dwight

    Spend Money Like a Pop Star...Or Not: FamZoo's FinovateSpring 2013 Demo
    by Bill Dwight

    Filene blog
    Filene Five: Promising Products from Finovate

    The Financial Brand
    7 Reasons to Love GoBank
    by Jim Marous

    Finews.ch
    Neues aus der Finanzwelt der Zukunft

    Finextra
    Banno unveils marketing tool Kernel

    Forrester blog
    FinovateSpring Fling 2013: Another Year of Dazzling Financial Services Delight!
    by Tiffani Montez

    Hotwire blog
    Innovations inspire at Finovate Spring 2013
    by Annette Leach

    IntelliResponse blog
    IntelliResponse Takes Center Stage at Finovate Spring 2013
    by Dwayne Weppler 

    Investment News
    Quantopian launches trading platform pilot program
    by Davis D. Janowski

    Kabbage blog
    Kabbage and Intuit Partner to Fund Small Businesses!

    Lisa LaMagna's Slideshare
    Finovate SF in 60 Seconds
    by Lisa LaMagna

    MainStreet
    Kabbage Expands Small-Business Financing
    by Laurie Kulikowski

    Man in Ranks blog
    I attended Finovate Spring in San Francisco
    by Christopher Perrien

    Intuit
    by Christopher Perrien

    Newfination
    Finovate Spring 2013: Expensify Is At The Forefront Of Innovation In Business Expense Management

    Finovate Spring 2013: On Finovera You Can Store Your Bills, Statements, And Financial Documents

    Finovate Spring 2013: GoBank Is A New Finance Bank That Enables Smart Personal Money Management

    Finovate Spring 2013: GoodApril Helps You With Your Taxes All Year Round

    Finovate Spring 2013: In San Francisco At The Center Of The New Finance World

    Finovate Spring 2013: Kabbage Approves And Lends Money To Small Businesses in 7 Minutes or Less

    Finovate Spring 2013: Leaf.me Is A Multiprocessor Payment Platform For Merchants

    Finovate Spring 2013: Prestadero Is A Mexican Peer To Peer Lending Marketplace

    Finovate Spring 2013: Realty Mogul Is A Crowdfunding Platform For Real Estate Investing

    Finovate Spring 2013: Refundo's App Is For The Under and Unbanked

    Finovate Spring 2013: Start A Trust Fund For Each Of Your Kids At TrustEgg

    Finovate Spring 2013: Virtual Piggy Is A Safe Payments System For Your Kids to Spend their Allowance

    Finovate Spring 2013: Walla.by Is A Full Service Credit Card Advisor

    Newsday
    Banking Up Launches at FinovateSpring, Lets Any Business Offer Customers a Trusted Alternative to Traditional Banking

    PandoDaily
    Finovate: Quantopian debuts live data trading for consumer quants
    by Michael Carney

    Pymnts.com
    A VC's Inside Look At FinovateSpring 2013
    by Dan Rosen

    GoBank Announces Timing of General Availability and National Distribution Relationships at FinovateSpring

    Kabbage Extends Loan Services To Offline SMBs

    TipRanks Wins Best of Show Award at Finovate

    TransCard Congratulates FamZoo, Winner of One of Five 2013 FinovateSpring Best of Show Awards

    The Paypers
    InvoiceASAP, Zebra Technologies partner for mobile invoicing solution

    Refundo blog
    FinovateSpring 2013 Trip - Demo Day
    by Michael de Senna

    SF Gate
    ZooZ Previews "In-Ad Payments"™ at Finovate Spring

    Silicon Prairie
    Onstage at Finovate, Banno unveils ad platform for banks
    by Danny Schreiber

    Watch EyeVerify, Banno demo their wares at bank tech event Finovate
    by Fred Bauters

    TechCrunch
    Mobile Payments Startup ZooZ Debuts In-Ad Payments (Yes, "Ad" Not "App")
    by Sarah Perez

    VentureBeat
    Expensify takes on Freshbooks with invoicing & billing features
    by Sean Ludwig

    Kabbage expands its loans business, now supports Quickbooks
    by Christina Farr

    Y Combinator Blog
    LendUp (YC W12) wins Finovate 2013 Best in Show for consumer loan platform to help the underbanked build credit

    We'll continue to add coverage throughout the next few weeks. If you have FinovateSpring press coverage you would like to add, please email the link to julie@finovate.com.
    This is a part of our live coverage of FinovateSpring 2013.

    KabbageLogo.jpg
    Next, Kabbage took the stage to demo how it uses QuickBooks data to underwrite small business loans:

    "Kabbage has partnered with Intuit to provide simple and easy access to funding for QuickBooks customers. Kabbage is the first company on Intuit's QuickBooks Financing Platform to underwrite customers solely based on QuickBooks data. With Kabbage, customers receive instant approvals; funds can be available within minutes when they use PayPal to receive funding."

    Product Launch: May 2013

    HQ: Atlanta, GA
    Founded: February 2009
    Metrics: $56M in equity funding; $93M in debt funding in two rounds; 95 employees; more than 100,000 accounts
    Website: kabbage.com
    Twitter: @kabbageinc

    Presenting Marc Gorlin (Chairman) and Rich Preece (Director, QuickBooks - Intuit)

    IMG_1835.JPG
    IMG_1837.JPG

    Finovate-F-Logo.jpg
    • Expensify adds corporate card reconciliation for more banks, including Wells BofA, and Citi. See Expensify's demo at FinovateSpring.
    • Forbes interviews Marc Gorlin, co-founder of Kabbage. See Kabbage's new tech next week at FinovateSpring.
    • PayNearMe hires Billy Robbins, former VP of PFM at Wells, as its VP of business development. Come see PayNearMe's demo at Finovate.
    • Kashoo tops 100,000 registered users and more than 50,000 iPad downloads of its cloud accounting app.
    • PaymentsSource interviews CashStar chief marketing officer Gene Cornfield on mobile commerce.
    • Kalixa to become its own company, separating from Bwin.
    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-- April 25, 2013

    • Bank Independent picks Jack Henry Banking's SilverLake technology for enterprise-wide automation.
    • TSYS Merchant Solutions launches Pay in Your Currency multi-currency solution.
    • CommunityLend earns spot on Branham300's Top 25 Up and Coming companies roster.
    • ID Analytics introduces new version of Credit Optics Credit Score for more insight into consumer behavior.
    • Kofax ranked a "Leader" by Forrester Research in The Forrester Wave report.
    • AGBeat features Kabbage. Check them out at FinovateSpring.
    • Kony Solutions announces record year in FY2013, growing 90% YOY. Hires Abhay Parasnis as President and COO.
    • Mobile World Live takes a look at Zooz's recent funding round. Meet Zooz in San Francisco as they demo their technology as part of FinovateSpring.
    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-- April 12, 2013

    Finovate-F-Logo.jpg
    • RIA Biz takes a look at BrightScope's plan to make advisory fees public.
    • DietBet.com crowdfunds more than $300,000 via SeedInvest. Join SeedInvest in San Francisco for FinovateSpring in May.
    • Finovate alumni make a strong showing in GoodApril co-founder's list of tax preparation innovation. Meet GoodApril at FinovateSpring.
    • VentureBeat features Ripple developer OpenCoin. See OpenCoin in action at FinovateSpring in May.
    • DroidBeans reviews Pageonce for Android.
    • Puget Sound Business Journal highlights the role of Realty Mogul in a local real estate deal. Join Realty Mogul at FinovateSpring.
    • PayPal buys Iron Pearl, a startup that helps companies make their products more attractive to customers.
    • Reuters looks at a case study of how FutureAdvisor is used to save for retirement.
    • PYMNTS looks at Kabbage's "secret weapon"
    • New York Times Business Day interviews Sabrina Parsons, Palo Alto Software CEO. Come to FinovateSpring to watch it demo LivePlan.
    • Channelnomics reports: Check Point Launch Makes Small Branch Foray.
    • Dwolla takes top honors at Prometheus Awards in Des Moines.
    • Massolution's Crowdfunding Industry Report places Lending Club and Prosper as leaders in the industry.
    • American Banker considers On Deck Capital's growth.
    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-F-Logo.jpgKabbage brings in $75 million in debt financing.
    • Finextra reports: eToro launches social alerts app.
    • PaymentEye features Virtual Piggy. Come see its live demo at FinovateSpring next month. http://bit.ly/Zaunjl
    • Business Solutions speaks with Jason Richelson, ShopKeep POS CEO, who debunks the myth that cloud POS fails when the internet shuts down. 
    • TechCrunch TV interviews Nick Hungerford, Nutmeg CEO on how he aims to disrupt the financial investment world.
    • Verity CU features FamZoo, makes it available to members. Come see FamZoo's latest development at FinovateSpring.
    • Kashoo releases new version of iPad app.
    • Monitise Executive Vice President Lisa Stanton interviewed by Bdaily.
    • Jack Henry & Associates's Symitar platform to be deployed by Kitsap Credit Union.
    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.
    KabbageLogo.jpg

    Kabbage, a startup that provides working capital to online merchants in the U.S. and U.K., announced today it received $75 million in debt financing.

    Victory Park Capital led the round. Existing investor, Thomvest Ventures, also contributed.

    KabbageFlow.jpg

    According to Crunchbase, from 2010 to 2011 the Atlanta-based startup received almost $17 million in debt financing. 

    It has also raised more than $53 million in equity funding, including:

    Venture Round, $6.65 million
    Closed: January 2011
    Investors:
    • BlueRun Ventures
    • David Bonderman
    • Warren Stephens
    • UPS Strategic Enterprise Fund
    Series B, $17 million
    Closed: August 2011
    Investors:
    • Mohr Davidow Ventures
    • BlueRun Ventures
    • Warren Stephens
    • UPS Strategic Enterprise Fund
    • Jim McKelvey
    Series C, $30 million
    Closed: September 2012
    Investors:
    • Thomvest Ventures
    • UPS Strategic Enterprise Fund
    • Mohr Davidow Ventures
    • BlueRun Ventures
    • Warren Stephens
    • David Bonderman
    • SV Angel

    According to TechCrunch, Kabbage's new debt funding is due to the massive growth it has seen recently. It has extended more than 60,000 advances, which have quadrupled in volume year-over-year.

    To learn more about Kabbage, watch its FinovateEurope 2013 demo.

    InnovationProjectIMG.jpg

    PYMNTS.com, a website owned by Business Wire and Market Platform Dynamics, recently published the winners of the 2013 Innovator Awards.

    Three Finovate alums were selected as overall Best in Show winners:

    First place: Pangea Payments
    • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
    Second placeWaspit 
    • Description: Combining mobile payments with social media channels to empower and inform the user in everyday purchases.
    • Finovate demo: FinovateFall 2012
    Third placeLeaf
    • Description: Small business payments solution
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15

    In addition, five Finovate alums took home Gold awards, five won Silver awards, and seven were awarded in the Bronze category. Here is a summary of all of the winners:

    Gold

      • Category: Most innovative
      • Innovation: PayPal POS Initiatives that leverage its worldwide digital wallet accountholder base.
      • Finovate demo: FinovateEurope 2012
      • Category: Best credit
      • Innovation: The consumer's advocate for demystifying credit with a range of tools and information resources to help them monitor and manage their financial health.
      • Finovate demo: FinovateStartup 2009
      • Category: Best B2B innovation
      • Innovation: Online working capital for small businesses.
      • Finovate demo: FinovateEurope 2013
      • Category: Best SMB innovation
      • Innovation: Small business payment platform integrated with Quickbooks.
      • Finovate demo: Finovate 2009
      • Category: Best innovation via ACH
      • Innovation: Cash flow management, accounts payable/ receivable management platform
      • Finovate demo: FinovateSpring 2011
    Silver
      • Category: Most invisible
      • Innovation: Platform-as-a-Service that powers POS 2.0 commerce solutions.
      • Finovate demo: FinovateSpring 2012
      • Category: Best credit
      • Innovation: Offers consumers "more time to pay" their bills on time to help avoid late fees, overdraft charges, service termination and high cost loans.
      • Finovate demo: FinovateSpring 2011
      • Category: Best cash
      • Innovation: Enables consumers to shop online and pay with cash easily for a wide range of goods.
      • Finovate demo: FinovateSpring 2011
      • Category: Best SMB innovation
      • Innovation: Cloud-based, small business platform that integrates invoicing and payment acceptance in one system.
      • Finovate demo: FinovateSpring 2012
      • Category: Best comeback
      • Innovation: Alternative business financing that helps businesses tap into the capital it needs to run the business.
      • Finovate demo: FinovateEurope 2011
    Bronze
      • Category: Most disruptive
      • Innovation: Mobile checkout service that enables one touch payments across multiple applications.
      • Finovate demo: FinovateSpring 2011
      • Category: Best technology
      • Innovation: OneID lets people sign in without usernames and passwords, yet delivers authentication solutions with non-repudiation, keeping both people and businesses safe from today's biggest identity and personal information threats.
      • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
      • Category: Best newcomer
      • Innovation: Aggregates financial account information and allows users to manage their money in one place, online or with a mobile device.
      • Finovate demo: FinovateSpring 2012
      • Category: Best credit
      • Innovation: Brings together investors with creditworthy borrowers to reduce the cost and complexity of traditional lending.
      • Finovate demo: Finovate Startup 2009
      • Category: Best debit
      • Innovation: Reinventing personal banking with modern online and mobile experiences, no surprise fees, and great customer service.
      • Finovate demo: FinovateFall 2011
      • Category: Best prepaid
      • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
      • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
      • Category: Best check
      • Innovation: Mitek's patented mobile imaging technology allows users to remotely deposit checks from anywhere, at anytime by snapping a picture with their camera-equipped smartphone or tablet, and has become the "gold standard" for mobile check deposit.
      • Finovate demo: FinovateSpring 2012

    Finovate Alumni News-- March 25, 2013

    Thumbnail image for Finovate-F-Logo.jpg
    • Innovations in gamification help True Office win Computerworld Honors Program award.
    • Aiming for the enterprise: Mobile Payments Today features Corduro.
    • American Banker reports: Randolph-Brooks chooses Andera's online account opening platform.
    • The gamification revolution interviews Michelle Katics, CEO of BankersLab.
    • Kabbage takes home first place for Top B2B Innovation from PYMNTS.com.
    • Virtual Piggy taps into $10Bn Annual Market with epay Partnership.
    • eToro placed on the 2013 FinTech50 Watchlist, a shortlist of 50 companies in Europe that are redefining financial services through technology.
    • Macgasm features Tuition.io as 1 of 5 apps of the week.
    • Tradeshift features Intuit's Eric Dunn to talk about the recent partnership.
    • TechCrunch reports: Yodlee Interactive now powers financial data for 300 apps and businesses; on pace to surpass 500 in 2013.
    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.

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