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Alumni News-- August 29, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgHeckyl to provide real-time news and data analytics courtesy of new partnership with Marketware International.
  • Diebold brings deposit automation and cash recycling services to consumers and FIs in Brazil. See Diebold at FinovateFall in September.
  • Dwolla makes MassPay official, offers a simpler experience with increased stability, improved reporting, and increased transactions per batch.
  • PYMNTS talks with SumUp CEO Daniel Klein, to understand how it views innovation in the mPOS space.
  • PayPal launches tool, PayPal Demo, to help developers show merchants the difference between different PayPal payment options.
  • CNBC's National Business Report interviews Scott Goldman, CEO of TextPower.
    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.

    Alumni News-- August 25, 2014

    • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSan Antonio Federal Credit Union to integrate Geezeo PFM technology.
    • On Deck partners with Worldpay to provide access to financing for small and medium-sized merchants.
    • PaymentsSource features Dynamics ePlate among its list of "7 unusual emerging payments technologies."
    • Top Image Systems announces patent for full page mobile image processing.
    • The New York Times profiles Financial Guard, Motif, Betterment, FutureAdvisor, Jemstep, SigFig and Wealthfront .
    • InStream Solutions launches comparison tool.
    • Moven expands internationally, signs deal with New Zealand-based Westpac.
    • HuffPo profiles Prosper, Lending Club, and Kabbage in column on the rise of online lending.
    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.
    Inc50002014

    Inc. Magazine recently released the 2014 Inc. 5000 list that ranks the fastest growing privately-held companies in America. We combed the top 1,000 for Finovate alums and two made the cut. Many more are listed among the remaining 4,000 companies.

    Before taking a closer look at the two fast-growing companies, here are some stats on the financial services sector as a whole ranked against the other 24 industry categories:

      • Revenue: It ranked 5 of 25 in 2013 revenue, with a total of $17.2 billion
      • Growth rate: It ranked 19 of 25 in growth over the course of 2010 to 2013, with a rate of 112%
      • Job creation: It ranked 12 of 25 in the number of jobs the industry created from 2010 to 2013

    Here are the two Finovate alums that made the top 1000:

    LendingClubLogo.jpg
    Lending Club, a peer-to-peer lending platform
    Rank: 248
    Founded: 2007
    Headquarters: San Francisco, CA
    3-year revenue growth: 18x
    LendingClubHomepage2

    OnDeckLogo
    OnDeck, offers alternative loans to small and medium sized businesses
    Rank: 726
    Founded: 2007
    Headquarters: New York City, NY
    3-year revenue growth: 6.3x
    OnDeckHomepage2

    Alumni News-- August 19, 2014

    • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgLivePlan launches its Black Widow update to enhance performance monitoring.
    • Bank Innovation looks at GoBank's decision to shorten holding periods for mobile check deposits.
    • NICE Systems earns 2014 Star Performer award from Speech Technology magazine.
    • Top Image Systems partners with Allied Payment Networks to implement MobiPAY.
    • Time features ReadyForZero as 1 of 50 Best Websites for 2014.
    • Hiveage compares OnDeck, Kabbage, PayPal Working Capital, & CAN Capital Come see OnDeck at FinDEVr.
    • Quisk awarded US patent for enabling consumer activated security for a mobile payment system.
    • The Rude Baguette interviews Yseop CEO, John Rauscher.
    • New partnership brings Geezeo's PFM solution to MEA's native mobile banking platform. See Geezeo at FinovateFall 2014 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 Alumni News-- June 2, 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.jpgTop Image Systems partners with K2 to blend capture and mobile imaging technology with BPM.
    • On Deck reports $3.4 billion, $22K job impact on economy courtesy of its small business lending platform.
    • Eurasian Bank to deploy mobile banking technology developed by Monitise Create.
    • MasterCard launches MasterPass in Singapore.
    • Forbes features Xero, looks at why it will keep growing.
    • Finextra considers how The FCA plans to foster UK fintech innovation companies like Monitise, TransferWise, and Nutmeg
    • Apple opens TouchID to third parties, shows TouchID login example using Mint app in iOS 8 demo.

    • Dashlane reaches two million users milestone.

    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.
    ondeck_logo_new.jpg

    The only thing keeping pace with the investment interest in alternative lenders from Prosper to Kabbage may be the growing partnership interest from banks.

    Earlier this week we reported on the deal between Lending Club and Union Bank. Today we learn that BBVA Compass will be working with OnDeck to develop better ways to provide loans to its small business clients.

    Specifically, BBVA Compass will be relying on OnDeck's OnDeck Score. This technology allows banks and financial institutions to review thousands of relevant data points, including social data points, to help determine a would-be borrower's suitability for a given loan.

    This new initiative is a big deal for OnDeck, and represents the first such collaboration with a bank the size of BBVA Compass. Founded in 2007 and led by CEO Noah Breslow, OnDeck made headlines a month ago when it announced a $77 million funding round led by Tiger Capital. The company specializes in combining loan underwriting analysis with the merchant's own business data to determine a potential borrower's creditworthiness faster than traditional lenders.

    The average loan from OnDeck is $40,000, and loans can run as high as $250,000. Terms range from as little as three months to two years. The company demoed its technology at FinovateSpring 2012.
    • Finovate-F-Logo.jpgiFactor and Striata partner to offer robust push ebill solution to utilities.
    • Kingdom Trust and Bancbox partner to streamline the crowdfunding and P2P lending platform experience for the IRA investor.
    • Alternative lending pays up: Kabbage raises $50 million, Prosper pulls in $70 million.
    • Actiance extends Socialite to include Google+ & YouTube.
    • VentureBeat looks at the rise of P2P lending of many Finovate alums and predicts $1 trillion in loans by 2025.
    • App Annie now lets app developers track ads, app store optimization.
    • TradeHero launches a Chinese version, bringing the stock market game to traders in China.
    • Lend Academy speculates Prosper now valued $600 million, up from a $100 million valuation around eight months ago.
    • Personal Capital reaches 500,000+ registered users. Now is tracking over $70+ billion in & is managing $500 million in assets for clients.
    • Credit Sesame offers Target customers free ID protection, credit monitoring and credit scores without deadlines.
    • Jack Henry Banking's Core Director processing platform deployed by Oklahoma State Bank and The Bank of Clovis in New Mexico.
    • BBVA Compass teams up with On Deck Capital to better score small business borrowers.
    • WSJ Personal Technology column recommends Dashlane as the "best way to manage online passwords.
    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.
    FinovateFundingIMG.jpg

    Want some context on the torrid pace of fintech financing in the first three months of 2014?

    Consider this: a year ago, fourteen Finovate alums raised a total of more than $150 million in the first quarter of 2013.

    A year later, we have just nine alums raising more than twice as much in the month of March alone.

    March Madness, indeed.

    Q1 of 2014 saw 23 Finovate alums walk away with just under $600 million in capital. The biggest haul of the quarter came courtesy of Klarna, which raised more than $125 million. 

    But there were plenty of similarly impressive fundraisings, including the $85 million raised by Credit Karma, and the $77 million and $75 million secured by OnDeck and Tradeshift, respectively.

    Total raised = More than $592 million

    January -- $91 million raised by seven companies
    February -- $139 million raised by seven companies
    March -- $362 million raised by nine companies

    Note: Funding prior to becoming a Finovate alum not included. Questions? Comments? Email us at David@finovate.com or Julie@finovate.com

    Finovate Alumni News -- March 25, 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.jpgEleven Finovate alums win awards at PYMNTS Innovation Project 2014.
    • Bazaarvoice announces partnership with Spredfast.
    • TechCrunch: Wealthfront, OnDeck, Lending Club, Credit Karma, Betterment, and Kapitall "come of age."
    • CMS Wire reviews Backbase's customer experience platform.
    • Top Image Systems' eFLOW to process the digital census of a country in EMEA in a deal worth more than $1 million.
    • Place2Give releases GIVE-API to provide access to its database of charities as well as its payment processing tech.
    • SmartAsset raises $5.2 million in series A funding. Come see their live demo at FinovateSpring next month in San Jose.
    • Netherlands Queen Maxima visits Entrepreneurial Finance Lab (EFL) to see its psychometric credit scoring methodology in action.
    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.jpgArxan Technologies wins in the Products and Services Excellence category of the Infosecurity Global Excellence Awards.
    • OnDeck's CEO Noah Breslow appears on CNBC Squawk Box.
    • Mitek opens mobile imaging platform to developers.
    • Klarna raises £90 million to finance acquisition of Sofort.
    • Collision features Realty Mogul in its selection of "10 Top Startups with Powerful New Ideas."
    • OnDeck tops $1 billion in small business loans.
    • CBS News features Dynamics' Hidden card, interviews CEO Jeff Mullen.
    • Yale microfinance program to deploy Mambu platform.
    • FPPad Bits and Bytes features Guide Financial in its latest video review.
    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 ondeck_logo_new.jpg

    Talk about paying it forward. Alternative small business lender OnDeck announced today that it has raised $77 million from a team of investors led by Tiger Global Management.

    The total funding for OnDeck now stands at $180 million, with an additional $300 million in debt financing.

    Said OnDeck Chief Executive Noah Breslow about the process, "The market, the sector, and the company all lined up. Lending is the last sector to be disrupted."


    OnDeck_homepage_3.jpg
    Also participating in the round were a sextet of existing investors:
    • First Round Capital
    • Google Ventures
    • Institutional Venture Partners
    • Peter Thiel
    • SAP Ventures
    • RRE Ventures
    The funding comes as OnDeck reports that it will reach an all-time high of $1 billion in loans to small businesses by the middle of this month. Breslow says that he believes the company will  double its revenues in 2014, and insists there are no IPOs plans in the immediate future. The new funding will help OnDeck build upon its marketing efforts, grow internationally, and begin to explore  opportunities beyond its current loan product.

    OnDeck_homepage_2.jpg
    Here are a handful of interesting metrics for OnDeck:
    • Average loan size: $40,000
    • Maximum loan size: $250,000
    • Loan duration: 3-24 months
    • Growth in 2013: 150%
    • Revenues in 2013: $65 million
    • Employees: 240
    • Provided loans to businesses in 725 different industries
    OnDeck is ranked #11 in Forbes "America's Most Promising Companies list for 2014" (moving up dramatically from its #94 spot in 2013). The company is based in New York City, New York, and was founded in 2007. OnDeck demoed their technology at FinovateSpring in 2012. See them in action here.
    • Finovate-F-Logo.jpgActiance partners with Shoutlet to integrate Shoutlet's social marketing capabilities with Actiance Socialite.
    • PayPal's Braintree to waive the first $50k of processing fees for startups building on its platform through its new Ignition program.
    • On Deck raises $77 million in funding round led by Tiger Capital.
    • Mechanics Bank's Bradley Leimer takes a look at the lessons from BBVA's acquisition of Simple.
    • Simple, Moven, and Numbrs are listed in American Banker's feature "6 Apps That Are Making Bankers Jealous."
    • Recode reviews Loop. Check out its new payment tech at FinovateSpring next month.
    • The Tally's Financial News Fintech Focus column features Kensho.
    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-- 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.
    Thumbnail image for Finovate-F-Logo.jpg

    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
    FinovateFundingIMG.jpg
    Cheers to a new year! After ringing in 2014, we wanted take a look back at the capital raised by Finovate alumni in 2013. It was quite a year, with alums pulling in $825 million, $365 million more than in 2012 for an increase of about 80%.

    2013 funding summary:
      • 62 companies raised $825 million
      • Q4 had the most capital, with a total of $294 million raised by 17 companies (more than half by Xero, which landed $150 million). 
      • October was the busiest month, with $177 million raised (mostly Xero's $150 million)
      • May was second highest with $91 million raised by 7 companies
    2012 comparison
    Last year Finovate alums took in almost twice as much as 2012, when 44 Finovate alums collectively raised $460 million. The chart below shows the quarter-by-quarter comparison for both years.

    2013YearEndTable.jpg
    Quarter 1 -- blog post
    More than $155 million raised by 14 companies

    January -- $57 million raised by 6 companies
    February -- $56 million raised by 5 companies
    March -- $42 million raised by 4 companies

    Quarter 2 -- blog post
    More than $205 million raised by 15 companies

    June -- $81.7 million raised by 6 companies
    May -- $91.5 million raised by 7 companies
    April -- $32 million raised by 2 companies

    Quarter 3 -- blog post
    More than $171 million raised by 22 companies

    July -- More than $63 million raised by 8 companies
    August -- More than $26 million raised by 6 companies
    September -- $82 million raised by 9 companies

    Quarter 4
    More than $294 million raised by 17 companies

    October-- $177 raised by 6 companies
    November -- More than $87 million raised by 7 companies
    December -- More than $30 million raised by 6 companies


    Note: Funding that companies received before they first appeared at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

    • Finovate-F-Logo.jpgBackbase on Track to Expand into UK Market. 
    • Arroweye Solutions launches EMV On-Demand.
    • ICBA Mortgage extends its agreement with D+H Mortgagebot.
    • InComm partners with Jackson Hewitt Tax Service to unveil new GPR card.
    • Digital Insight working with Delta Community CU to offer members digital banking services and solutions.
    • Guardian Analytics announces FraudMAP Connect, real-time collaboration platform & fraud intelligence community.
    • Cachet Financial Solutions launches new mobile money management application and platform, Select Mobile Money.
    • Equifax enhances underwriting decisions for lenders and businesses with release of advanced decisioning attributes.
    • Simple announces new MoneyDrop, instant P2P $$ transfer technology.
    • OnDeck ranked #20 in SellingPower Magazine's 50 Best Companies to Sell For List.
    • Ven partners ValidSoft to secure virtual currency transactions.
    • SecondMarket CEO explains latest Bitcoin move.
    • Tyfone powers P2P m-payments in BVCU m-banking platform.
    • MasterCard joins Fast IDentity Online (FIDO) Alliance in support of innovation in online authentication.
    • Inaugural issue of FIS's digital magazine FIS InMotion now available.
    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.jpgPandoDaily features Planwise's "coming of age" story. 
    • OnDeck closes over $130 million in increased credit facility commitments, 150% 12-month growth surge drives doubling of debt capacity.
    • doxo's new email Import and Organization capability simplifies record keeping for the your key accounts.
    • Azimo picks cross-border payments platform Earthport to help expansion into developing markets.
    • Edo Interactive unveils self-serve portal for edo Marketplace that helps merchants set up card-linked offers on their own.
    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 Thumbnail image for inc5000Logo2.jpg

    Congratulations to six Finovate alums named to the Inc. 5000 list of America's fastest growing companies.

    The list included two Finovate alumni in the top 500: Kony Solutions (#28), and CashStar (#108). Prosper just missed the top 500, ranking #548. Also on the list were OnDeck (#660), Authentify (#2,328), and Capital Access Network (#4,535).

    *

    Rank: #28
    Description: Offers a codebase for developing mobile and multichannel applications
    Thumbnail image for Kony.jpg
    3-year revenue growth: 79x (eg. 7,900%)
    2012 revenue: $51.1 million
    2009 revenue: $648,000
    Employees: 1100
    3-year employee growth: 1003
    Founded: 2007
    Additional honors: #2 Top 100 Software Companies, #4 Top 100 Florida Companies


    Rank: #103
    Description: Hosts and maintains a transaction platform for retailer-branded gift card programs
    3-year revenue growth: 35x
    Thumbnail image for CashStar.jpg
    2012 revenue: $9.7 million
    2009 revenue: $276,000
    Employees: 96
    3-year employee growth: 73
    Founded: 2008
    Additional honors: #6 Top 100 Software Companies, #3 Top 100 Maine Companies


    Rank: #548
    Description: Peer-to-peer lending marketplace
    3-year revenue growth: 9.3x
    prosperlogo1.jpg
    2012 revenue: $6.8 million
    2009 revenue: $732,000
    Employees: 84
    3-year employee growth: 50
    Founded: 2006
    Additional honors: #36 Top 100 Financial Services Companies #97 Top 100 California Companies, #31 San Francisco Metro Area


    Rank: #660
    Description: Small business lender
    3-year revenue growth: 8x
    Thumbnail image for OnDeckLogo.jpg
    2012 revenue: $36.7 million
    2009 revenue: $4.6 million
    Employees: 153
    3-year employee growth: 117
    Founded: 2007
    Additional honors: #41 Top 100 Financial Services Companies, #40 Top 100 New York Companies, #5 New York City Metro Area


    Rank: #2,328
    Description: Delivers automated, multi-factor authentication services
    3-year revenue growth: 2.6x
    Thumbnail image for Authentify.jpg
    2012 revenue: $14 million
    2009 revenue: $5.5 million
    Employees: 37
    3-year employee growth: 13
    Founded: 1999
    Additional honors: #36 Top 100 Security Companies


    Rank: #4,535
    Description: Provides working capital and data services to small businesses
    3-year revenue growth: 49%
    Thumbnail image for CapitalAccessNetworkLogo.jpg
    2012 revenue: $152 million
    2009 revenue: $102 million
    Employees: 425
    3-year employee growth: 144
    Founded: 1998

    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.jpgNetbanker looks at LendUp and BillGuard as 2 innovators creating services to protect the elderly from spam.
    • Kofax acquires data integration software provider Kapow Technologies.
    • Startup Owl features Lighter Capital and On Deck. Check out Lighter Capital at FinovateFall in NYC.
    • Bill.com's two-factor authentication brings security to SMBs.
    • Thoma Bravo completes billion-dollar acquisition of Intuit Financial Services, re-launched as Digital Insight.
    • Net Element International integrates its Aptito POS payments platform with TSYS.
    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
  • FinovateLOGO.jpg

    For the second quarter of 2013, fifteen Finovate alumni raised more than $200 million. The quarterly total exceeded both that of the previous quarter as well as the same quarter last year.*

    • Q2 2013: 15 companies raised more than $200 million
    • Q1 2013: 15 companies raised more than $155 million -- blog post
    • Q2 2012: 14 companies raised more than $120 million -- blog post

    Here's the Q2 summary for 2013:

    April -- $32 million raised by two companies
    May -- $91.5 million raised by seven companies
    June -- $81.7 million raised by six companies

    _____________________________________________________________________________

    *While the funding over last year has increased, so has the number of Finovate alums. We're tracking more than 100 additional companies this year compared to last year.

    Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

    • Finovate-F-Logo.jpgLending Club's platform has originated $2 billion in total personal loans, $158 million of loans in June alone.
    • HSBC Bank Oman launches SecureKey for internet banking and upgrades mobile banking app.
    • Adidas to accept SafetyPay for online payments across Latin America.
    • Iowa government will soon accept Dwolla as payment for property and vehicle taxes.
    • The American Bankers Association endorses the card-linked offer technology powered by Linkable Networks.
    • The Next Web reports: Virtual stock market game startup TradeHero aims for $5m funding and 1m users by year-end.
    • Monitise and Telefonica enter mobile money partnership.
    • The Globe and Mail looks at On Deck Capital, Lending Club, and CommunityLend's FinanceIt as alternative financing.
    • Money Insider column in The Independent features Azimo.
    • Pymnts.com interviews TSYS Director of Acquiring Solutions Product Management, Tedd Huff on payment processing.
    • OpenCoin launches Bitcoin Bridge, an e-commerce enabler for Ripple.
    • CEOCFO Magazine interviews Blaze Mobile CEO Michelle Fisher.
    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 Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBraintree's Bryan Johnson provides columnist James Altucher with an example of "how to go from $0 to $1,000,000 in two years." See Braintree demo at FinovateSpring in San Francisco.
    • TransactionAge takes a look at Klarna as an alternative to Google Wallet.
    • Digital Mailer's My Virtual StrongBox deployed by Redstone Federal Credit Union.
    • Investment News features Finect, a social network for financial advisors. Join them in San Francisco for FinovateSpring.
    • miiCard partners with Bitcoin Exchange Platform, Tradehill.
    • Innovation Agency updates Innovation Café to support formal judging process and integrated rewards payment process.
    • TIO Networks announces partnership with mobile app developer iFactor Consulting.
    • Bloomberg Businessweek reports: On Deck Capital Targets Businesses Banks Won't Touch.
    • David Barrett, Expensify CEO, interviewed on SkyNews to talk about Bitcoin. Come check out what's new at Expensify at FinovateSpring next week.
    • Best Vendor profiles Gremln. See them in action at FinovateSpring in San Francisco.
    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.

    OnDeckLogo.jpg

    The latest funding for On Deck Capital comes courtesy of PayPal co-founder Peter Thiel, Industry Ventures, and Google Ventures, which led the round. The announcement is the second of its kind this year for On Deck, which raised $42 million in funding from Institutional Venture Partners in February.

    The company's immediate plans for the capital are practical: building products and adding staff. But longer-term On Deck remains focused on playing a growing role in the lending requirements of the five million small businesses in the United States.

    Here are a few metrics from On Deck:

    • Raised $59 million in funding so far in 2013; $100 million to date
    • Increased its repeat customers by 34% in 2012
    • Loaned $400 million since inception
    • Grew distribution partners to 300% to 1,500 nationwide in 2012

    On Deck was founded in 2007, and is headquartered in New York. Their small business loans range from $5,000 to $150,000, with terms extending as long as 18 months. Businesses that have been operating for longer than one year, and have annual revenues of at least $100,000 are eligible.

    On Deck was among the companies to take part in FinovateSpring 2012. See them in action here.

    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.jpg

    This quarter, both January and Feburary funding exceeded $50 million. Most of February's funding can be attributed to On Deck Capital's $42 million round.

    Over three months, 15 companies raised more than $155 million, This is very similar to last year's first quarter funding* when we saw a total of 11 companies raise more than $150 million.

    Here's the Q1 summary for 2013:

    January -- $57 million raised by 6 companies
    February -- $56 million raised by 5 companies
    March -- $42 million raised by 4 companies

    ___________________________________________________________________

    *While the funding over last year has increased, so has the number of Finovate alums. We're tracking more than 100 additional companies this year compared to last year.

    Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

    • Finovate-F-Logo.jpgExpensify makes Reconciliation and Central Administration features available for American Express corporate cardholders.
    • Micronotes providing series of marketing campaigns for USAlliance FCU to help cross-selling efforts.
    • Palo Alto Software announces launch of EntrepreWorld, a virtual environment to test business plans in a virtual world of avatars. Come see Palo Alto demo its latest technology at FinovateSpring.
    • Consumers CU chooses Andera's oFlows platform for online account opening and lending.
    • Lighter Capital appoints Molly Gregg Otter as Vice President.
    • Bloomberg looks at how Jemstep, SigFig, and FutureAdvisor help manage your portfolio online. See Jemstep's new tech at FinovateSpring.
    • Forbes takes a close up look at London's FinTech Innovation Lab, including participants BehavioSec, Kiboo, and Open Bank Project.
    • Huff Post blog considers Lighter Capital's Revenue Loans as alternative to VC funding.
    • GCN looks at Dwolla's use in government.
    • Huff Post blog considers automated report-writing software company, Narrative Science. See its new tech at FinovateSpring.
    • Y C Universe profiles Trust Egg. See them demo at FinovateSpring in May.
    • MicroStrategy signs technology alliance agreement with MapR.
    • Berry Review takes a look at Pageonce Money and Bills on Blackberry 10.
    • Times of India highlights Klarna's growth in Europe.
    • Incentive Mag previews the launch of CashStar's table gifting solution.
    • Eye Verify announces results from biometric standard, performance and assurance lab survey. Join them in San Francisco for FinovateSpring.
    • IntelliResponse selected by KMWorld as one of "100 Companies that Matter in Knowledge Management" for 2013. Come see them in action at FinovateSpring in May.
    • New York City Mayor Michael Bloomberg officially 'opened the doors' to On Deck Capital's new NYC HQ.
    • Global Payments and edo Interactive launch pilot for card-linked offers network.
    • Boston Business Journal interviews Leaf CEO Aron Schwarzkopf. See Leaf's demo at FinovateSpring in San Francisco.
    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.jpgAmerican Banker asks if Atlanta is a fintech startup Mecca and looks at Kabbage and Cardlytics as examples.
    • Actiance debuts Vantage for Lync Voice to capture VoIP calls for Mircosoft Lync users.
    • BBC News looks at BehavioSec's biometric security.
    • On Deck opens new regional office in Denver, Colorado.
    • IDentity Theft 911's chief privacy officer Eduard Goodman talks smartphone privacy with Forbes.com.
    • TransferWise announces support for peer-to-peer international payments using debit cards.
    • TransWare from Compass Plus helps PrivatBank reach peak transaction processing.
    • Balance Financial launches Digital Office suite to create personalized client portal templates that can be customized.
    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.
    OnDeckLogo.jpg

    Last week small businesses borrowing solutions company, On Deck Capital, announced that it has secured $42 million in funding.

    On Deck's Series D financing round was led by a new investor, Institutional Venture Partners. Existing investors also participated:

      • RRE Ventures
      • SAP Ventures
      • First Round Capital 

    This recent round brings the company's total funding to $96 million.

    The New York-based company also released some stats:

      • Deployed $400 million in loans to date
      • Tripled its distribution partners to 1,500 nationwide
      • From 2008 to 2011, the company saw 12X revenue growth

    In conjunction with this financing, Sandy Miller, IVP General Partner will join On Deck's board of directors.

    On Deck Capital demoed at FinovateSpring 2012.

    Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAccording to Forbes, four of the 100 most promising companies in the United States right now aren't just fintech companies. They are Finovate alumni, as well.

    Of the four, Lending Club is the highest rated, earning the number 12 spot in Forbes's "America's Most Promising Companies" roster. Also making the top 50 was Boku, with alumni On Deck Capital and Swipely helping round out the list.

    Interestingly, Swipely CEO Angus Davis recently made a "most promising" list of his own.  Davis was featured along with more than 20 of his peers in a profile of "America's Most Promising CEOs Under 35" also compiled by Forbes.

    Here's a closer look at the alumni featured.

    • Rank: 12
    • Revenue: $16 million
    • Employees: 125
    • Demo video
    • Rank: 38
    • Revenue: $195 million
    • Employees: 115
    • Demo video
    • Rank: 94
    • Revenue: $37 million
    • Employees: 152
    • Demo video
    • Rank: 95
    • Revenue: $1 million
    • Employees: 36
    • Demo video

    Finovate Alumni News-- December 13, 2012

    • Manilla update means one app is all you need to manage expenses from bills to subscriptions.
    • Just in time for the holidays TradeHero is now available at the Apple app store.
    • Former Treasury Secretary Lawrence Summers to join Lending Club board of directors.
    • CorFire announces strategic integration with PayPal.
    • Speaking of PayPal, you can now fund your account with cash using PayPal's new "PayPal My Cash Card."
    • Credit Sesame launches free credit-monitoring service.
    • Wipro announces the launch of SmartOffers, in partnership with Intuition Intelligence.
    • On Deck Capital adds American Express veteran to head marketing efforts.
    • InComm launches the Paypal My Cash Card.

    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 Thumbnail image for Finovate-F-Logo.jpg

    August was the biggest funding month of the third quarter. Six companies raised more than $49 million, led by FreeMonee, which alone raised $34 million.

    In addition to the eight companies listed below, On Deck Capital raised $100 million in credit facility commitments in late August. 

    Here's the Q3 summary for 2012:

    July -- $6 million raised by 2 companies

    August -- More than $49 million raised by 6 companies

    Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? E-mail us at Julie@Finovate.com or David@Finovate.com.

    • Interactive Investor purchases DCisions, closes InvestorBee service.
    Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg
    • Finextra reports Rabobank Australia and NZ selects ThreatMetrix to secure online channels.
    • InComm & SkyMall Ventures partner to launch electronic gift card program.
    • Opus Research report recognises ValidSoft as leader in voice biometrics.
    • AloStar Bank of Commerce chooses Andera's oFlows for online account opening.
    • TIO adds mobile bill pay app to its suite of services for El Paso Electric.
    • Radian Mortgage Insurance now available through Mortgagebot's loan origination system.
    • E-invoicing Platform features AcceptEmail.
    • Xconomy examines how Giftly will disrupt traditional gift card market.
    • Luup signs partnership with Arab Link, provider of money transfer and exchange services in Abu Dhabi.
    • Crunched lists On Deck in top 25 startups to work for.
    • TechCrunch reports Holvi Plans To Disrupt Traditional Bank Accounts With Simple But Powerful Services.
    • Citi Innovation Lab and SapientNitro honored at National Infocomm Awards in Singapore for next-generation banking experience.
    • ActivePath merges with PowerInbox.
    • Experian expands debt-collection product suite with TrueTrace.
    • DeviceFidelity launches moneto prepaid MasterCard.
    • BlinkMobile announces five more councils to adopt BlinkForms.
    • Klarna earns 2012 Entrepreneur of the Year award from European Tech Tour Association.
    • Money Smart Life reviews Betterment and Kapitall.
    • American Banker reports Betterment deepens finance advice features.
    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.

    On Deck Releases Growth Figures

    Thumbnail image for Thumbnail image for Thumbnail image for OnDeckLogo.jpg

    Online lending platform,On Deck Capital, released growth numbers late last week. Here's a quick summary:

      • Over the past 6 months the number of On Deck distribution partners has increased by 50%
      • The partners in the network reach more than 1 million businesses such as:
    - banks
    - leasing companies 
    - funding advisors
    - accountants
    - payroll firms

      • On Deck has opened offices in: 
    - Atlanta
    - Sarasota
    - Chicago
    - Los Angles
     

    As of this month, the platform has delivered over $300 million to U.S. small businesses.

    To learn more about On Deck, watch its FinovateSpring 2012 demo.

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