Finovate - Conferences Showcasing the Future of Financial & Banking Technology
FinovateFallFinovateAsiaFinovateEuropeFinovateSpring

Blog

TopicsTopics   TopicsArchives  

Recently in SoMoLend Category

Four Finovate alumni were featured in the latest publication from Online Banking Report (OBR).

Bolstr

  • Thumbnail image for BolstrLogo.jpgDebt-based / Crowdlending
  • Headquartered in New York, New York
  • Presented at FinovateFall 2012
  • Demo Video

P2Binvestor

  • Thumbnail image for P2BiLogo.jpgReceivables-based / Crowdfactoring
  • Headquartered in Louisville, Colorado
  • Presented at FinovateSpring 2013
  • Demo Video


  • Thumbnail image for RealtyMogulLogo.jpgDebt-based / Crowdlending
  • Headquartered in Los Angeles, California
  • Presented at FinovateSpring 2013
  • Demo Video


  • Thumbnail image for SoMoLendLogo.jpgDebt-based / Crowdlending
  • Headquartered in Cincinnati, Ohio
  • Presented at FinovateSpring 2012
  • Demo Video

The report is an in-depth look at the emerging trends in crowdfunding and features a look at 18 up-and-coming platforms. OBR Subscribers can access the report here. It can also be purchased for US$495 here.

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThe Wall Street Journal takes a look at "bitcoin startups" including OpenCoin. Come meet them at FinovateSpring in San Francisco.
  • Currensee announces launch of Trade Leaders managed fund.
  • US Bankcard Services now providing AuthenticID service to its merchants.  See AuthenticID demo at FinovateSpring next week.
  • Check Point introduces 600 Series security appliances for SMBs.
  • Forbes lists SoMoLend as 1 of 10 top crowdfunding sites for fundraising.
  • Investor Junkie reviews Jemstep. Come see what's new at Jemstep at FinovateSpring next week.
  • MoneyDesktop honored with Bronze award in the Telly Awards, which recognize the finest video, film, & web commercials. See them demo at FinovateSpring.
  • Business Insider names BillGuard as 1 of the 20 hottest startups from Israel.
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 15, 2013

Thumbnail image for Finovate-F-Logo.jpg
  • INTJ Capital compares and contrasts Quantopian and QuantConnect. Join Quantopian in San Francisco for FinovateSpring.
  • MicroStrategy launches mobile app Usher, e-wallet for digital I.Ds, keys. See them demo at FinovateSpring in May.
  • Paybefore takes a look at the TSYS's acquisition of NetSpend and ponders "prepaid's end game."
  • Monitise Group Strategy Director Richard Johnson talks about trends in mobile money.
  • BancVue chooses MicroStrategy platform for business analytics.
  • CPA Practice Advisor takes a look at the new, updated iPad app from Kashoo.
  • This is Money blog looks at Zopa's growth.
  • Yodlee awarded 50th patent for financial gadgets.
  • SoMoLend travels nationwide to teach small businesses & investors about crowdfunding.
  • Austin Business Journal considers BancVue's inverted sales pitch.
  • Newfination hosts SoMoLend CEO, Candace Klein, who explains how the platform's  crowdfunding capability.
  • Intelligent HQ interviews The Currency Cloud's CEO, Michael Laven.
  • Pando Daily profiles crowdfunding pioneers like SeedInvest and SoMoLend. Join SeedInvest in May for FinovateSpring.
  • The Next Web interviews TipRanks's CEO and co-founder Uri Gruenbaun.
  • Chevron teams up with WattzOn to launch The Capacity Project for sustainable growth.
  • Refundo launches free iPhone app. Check out Refundo's live demo at 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-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.jpgInvestors Business Daily interviews Barry Silbert, SecondMarket CEO, who says the stock market is broken.
  • Xero opening new LA office for Southern California team.
  • Bank Innovation reports: Fiserv Tops 1 Million Mobile Deposit Capture Users, 7 Million Mobile Users.
  • Radio New Zealand reports: Xero to launch fully into U.S. market in July.
  • Candace Klein, SoMoLend CEO, discusses the hardship that the SEC's delay of the JOBS Act has caused.
  • Yodlee receives 2013 Honorable Mention in Industry Partner category for the Barlow Research Associates' Monarch Innovation Awards.
  • Virtual Piggy integrates with Oracle ATG Web Commerce, expands reach of network to more than 390,000 brands.
  • Mitek's Mobile Deposit solution receives top award for Overall Most Innovative from Barlow Research Associates.
  • Management Today interviews Zopa CEO, Giles Andrews.
  • TechCrunch looks at Realty Mogul and its recent win at the Founder Showcase pitch competition. See them in action at FinovateSpring in May.
  • GreenDot and UniRush launch reloadable prepaid Visa card. Join GreenDot for FinovateSpring in San Francisco.
  • Allied Payment Network bill payment technology integrates with CSPI's Aurora online banking platform.
  • Zooz announces partnership with ChronoPay. Join Zooz in San Francisco for FinovateSpring in May.
  • Identity Theft 911 CEO to lead discussion on social media and insurer risk at upcoming NAMIC seminar.
  • Roadtrip Nation interviews Dan Reed of Bazaarvoice.
  • Money Street Smart reviews TradeKing.
  • Hard Assets Alliance features an interview with Gold Bullion International CEO Steven Feldman.
  • Newfination interviews Taavet Hinrikus of TransferWise.
  • Engine talks about rewarding risk-takers with GoodApril founder Benny Joseph.
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-- March 26, 2013

  • Thumbnail image for Finovate-F-Logo.jpgTransferWise featured in HuffPost Students United Kingdom.
  • EZBOB investor John Garfield profiled in The Telegraph.
  • Money.co.uk compares money transfers through Azimo.
  • Fiserv partners with Romania-based Eutron Invest to provide Cash and Logistics solution portfolio to the Romanian market.
  • Forbes looks at the "best of the best" debt crowdfunders including Lending Club, Prosper, Zopa, SoMoLend, Rebirth Financial.
  • SecureKey announced availability of its cloud-based briidge.net identity and authentication platform.
  • ID Analytics introduces fraud detection solutions for online retailers.
  • The Globe and Mail lists Expensify as 1 of 5 apps that take the bumps out of business travel.
  • Petter Made, co-founder and COO of SumUp, talks about the advantages of Dublin as a base for business.
  • Credit Union Times reports: Fiserv launches SpotPay.
  • Finextra reports G&D and PayPal team on pre-paid mobile top-ups in Brazil.
  • Practical eCommerce takes a look at Klarna Invoice for OSC programs.
  • CSI's globalVCard wins top entrepreneurial prize at 2013 Innovation Project.
  • Newfination interviews CurrencyFair's Brett Meyers.
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.
  • American Banker reports: Union Bank signs up for Fiserv's Bill Pay.
  • Bolstr featured on MSNBC's Your Business.
  • Backbase gives a glimpse of the Digital Marketing Module it showed at FinovateEurope.
  • Triple Pundit looks at how the SEC is holding SoMoLend and other debt/equity crowdfunding platforms hostage.
  • CIO lists Expensify as 1 of 3 apps to help at tax time.
  • BellaDati releases updates to its platform.
  • Med Gadget interviews Diversinet CEO, Dr. Hon Pak.
  • Finextra reports Geezeo signs 1st United Services Credit Union.
  • CashStar announces availability of tablet gifting.
  • Android, iOS updates now provide card-to-card payments with Pageonce.
  • Dough Roller blog names PocketSmith one of the best calendar-based personal finance apps.
  • Continuity Control to partner with cbanc Network to provide regulatory briefing via RegAdvisor.
  • Koolspan and DeviceFidelity team up to build TrustSleeve, bringing microSD-based voice encryption to the iPhone.
  • Locaid and Life360 join forces to help parents stay in touch with their kids.
  • The Financial Brand highlights 50 of the most spectacular website designs in banking: Simple (formerly BankSimple), Standard Chartered, Mint, & Moven. See Netbanker's take on the list here.
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.
SoMoLendLogo.jpg

Debt-based crowdfunding platform SoMoLend announced today that it has completed its Seed round of funding, totaling over $2 million.

A recent $400,000 investment from Virginia-based QED Investors finished off the Seed round. Prior investments contributing to the total amount include:

    • $1.2 million in May of 2012
    • $310k in September 2011

The Cincinnati-based startup plans to use the funding to expand marketing, develop fundraising tools, and enhance the platform by adding social networking features.

To learn more about SoMoLend, watch its FinovateSpring 2012 demo.

Finovate Alumni News-- March 4, 2013

Thumbnail image for Finovate-F-Logo.jpg
  • Online Broker Review takes a look at the TradeKing iPhone app.
  • Ayondo's investing and trading app TradeHub available on the iPhone.
  • Entrepreneur interviews Candance Klein, CEO of SoMoLend.
  • Brr Media interviews Kiboo founder and CEO Lisa Halpern.
  • TechCrunch chats with Simple CEO and co-founder Josh Reich to find out why Simple is better than your bank.
  • Lend Academy reports: Lending Club Issues $120 Million in New Loans in February.
  • American Banker reports: Bank of Zachary Selects Andera's Account Opening System.
  • Check Point positioned as leader for 16th consecutive year in 2013 Gartner Magic Quadrant for Enterprise Network Firewall.
  • The WSJ reports: SecondMarket to Launch Student-Loan Securities Platform.
  • Blippy for iPad available at the iTunes App store.
  • Comarch announced as a sponsor of Loyalty Expo 2013 in Orlando, Florida.
  • Prepaid Resources announces partnership with IDology.
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 19, 2013

  • Thumbnail image for Finovate-F-Logo.jpgRescuecom highlights TransferWise as low cost, currency conversion option.
  • Acculynk's Payzur brings person-to-person payments to consumers on PULSE debit/ATM network.
  • Compass Plus helps Russian-based FI SwitchMaster reach processing benchmark.
  • ekmPowershop announces partnership with EZBOB.
  • American Banker reports: Planwise to Participate in Yodlee's Incubator Program.
  • BillHighway hires new CFO.
  • Arroweye Solutions reports 40% growth due to 175% uptick in open loop card production, added 27 new clients in 2012.
  • Bill.com to provide Frantopia with accounting services.
  • Prosper unveils new protection for lenders.
  • The Next Web reports: Tradeshift adds support for accounting services Sage and Kashflow, helping businesses get paid.
  • Forbes considers how SoMoLend provides capital to small businesses.
  • VentureBeat reports SecondMarket is partnering with CircleUp to allow investors to invest in up-and-coming consumer product businesses.
  • Thomaston Savings Bank selects Q2ebanking's full suite of ebanking solutions.
  • HiddenLevers launches portfolio stress testing app to help advisors generate leads.
  • Fiserv awarded Best-in-Class rating in 2012 Anti-Money Laundering Technology Review.
  • Gifting app Wrapp selects Braintree to power payments.
  • Pageonce adds person-to-person payment functionality to mobile app.
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-- January 7, 2013

Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg
  • ACI Worldwide launches ACI Money Transfer System 5.0.
  • Suncorp Bank chooses FIS to manage ATM and POS transactions
  • 500Friends to integrate LoyaltyPlus platform with Bazaarvoice.
  • Financial Edge Community CU partners with SaveUp.
  • Mitek issued new patent for "Methods for Mobile Image Capture and Processing of Documents".
  • The Financial Brand checks out the "Simple" way of banking.
  • The New York Times looks at SoMoLend's take on crowdfunding, seeking out institutions to serve as lenders.
  • New York Times looks at Enloop's hassle free business plan writing service.
  • The Telegraph highlights TransferWise as a cost-saving option for overseas money transfers.
  • Luxembourg's Nordea Bank picks Temenos to standardize IT infrastructure.
  • GMC Software Technology helps Gala Bingo move to "third generation" bingo tickets.
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 Finovate-F-Logo.jpgHere is a list of all the funding Finovate alumni received over the course of 2012.  

After an impressive 2011, where more than $423 million was raised, 2012 was even better, with more than $450 raised.

A few stand-out metrics for the year:

  • A total of 44 companies received funding, some more than once in 2012
  • Combined, more than $450 million was raised
  • The best quarter for raising capital was the first quarter when more than $150 was raised
  • The biggest funding month this year was March, with more than $68 million raised by three companies
Here is a month-by-month breakdown of funding received.

January -- $25 million raised by 3 companies
Currensee: $2 million -- blog post
Finsphere: $11.3 million -- blog post
HelloWallet: $12 million -- blog post

February -- $57 million raised by 5 companies
Capital Access Network: $30 million -- blog post
Dwolla: $5 million -- blog post
Jemstep: $6 million -- blog post
Kabbage: undisclosed -- blog post
Xero: $16.6 million -- blog post

March -- $68 million raised by 3 companies
Boku: $35 million -- blog post
eToro: $15 million -- blog post
ThreatMetrix: $18 million -- blog post

April -- $2.5 million raised by 1 company
miiCard: $2.5 million -- blog post

May -- $55.5 million raised by 5 companies
Kony: $15 million - blog post
Pindrop Security: $1 million -- blog post
SecureKey: $30 million -- blog post
SoMoLend: $1.17 million -- blog post
Yodlee: $8.3 million -- blog post

June -- More than $62 million raised by 8 companies
Affinity Solutions: $14.5 million -- blog post
Arroweye Solutions: $3 million -- blog post
Cartera Commerce: $12.2 million -- blog post
Credit Sesame: $12 million -- blog post
Doughmain: undisclosed -- blog post
Lending Club: $15 million -- blog post
Nutmeg: $5.3 million -- blog post
Planwise: $200,000 -- blog post

July -- $6 million raised by 2 companies
Continuity Control: $1 million -- press release
SaveUp: $5 million -- blog post

August -- More than $49 million raised by 6 companies*
DemystData: undisclosed -- blog post
FutureAdvisor: $5 million -- blog post
FreeMonee: $34 million -- blog post
The Currency Cloud: $3.1 million -- blog post
CashStar: $5 million -- blog post
Continuity Control: $2.25 million -- blog post

September -- More than $59 million raised by 5 companies
Banno: $2 million -- press release
Betterment: $10 million -- press release
Edo Interactive: $15 million -- press release
Fuze Network: $2.5 million -- press release
Kabbage: $30 million -- blog post

October -- $37 million raised by 2 companies
The Currency Cloud: $1.9 million -- blog post
Braintree: $35 million -- blog post

November -- More than $23 raised by 4 companies
ActivePath: $10 million -- blog post
Jingit: $7 million -- blog post
Bazaarvoice: $6.7 million -- blog post
Xero: $49 million -- blog post

December -- More than $16 million raised by 4 companies
Waspit: $3 million -- blog post
Controlabill: $570,000 (A$600,000) -- blog post
Zopa: undisclosed -- blog post
ShopKeep POS: $10 million - blog post
Clover Networks: $3.3 million - blog post

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

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.

Finovate Alumni News-- December 21, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCompare Broker reviews the new mobile app from TradeKing.
  • MyBankTracker reviews how BillGuard protects from unwanted charges.
  • San Francisco Business Times reports: Giftly lets givers put 'heart' into gift cards.
  • Capital Access Network relocates Headquarters to NYC, adds Scott Blum as CMO.
  • Fiserv partners with TOPS Software to improve payment processing for property managers.
  • The Washington Post looks at SoMoLend's community-focused lending.
  • Forbes names Lending Club one of the top five fintech companies of 2012.
  • Chicago donut chain "Glazed and Infused" now using ShopKeep POS software.
  • Wired.co.uk names Holvi startup of the week.
  • Credit Sesame unveils free credit monitoring service.
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 Finovate-F-Logo.jpg
  • Cardlytics platform deployed by America FCU to provide targeted rewards to its members.
  • Vermilian's bancapp technology to power EECU's mobile banking and marketing smartphone app.
  • Dwolla promotes its platform by giving $10 in waived transaction fees for every friend you refer through the end of the year.
  • Xconomy looks at what SoMoLend discussed at the recent New York Enterprise Technology meetup.
  • Bank Innovation takes a look at what PayPal's P2P for Financial Institutions means for the payments world.
  • AppShopper highlights a new app from Billhighway, Give, now available for the iPhone.
  • Netbanker looks at how Simple makes banking interesting.
  • Merger mechanics continue as Zecco accounts move to TradeKing.
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 Finovate-F-Logo.jpg
  • Mitek to power US Bank's mobile photo bill pay; launching early 2013.
  • Fiserv reaches milestone, delivers 2 billionth e-bill.
  • The Financial Brand looks at Knab's online bank that runs on Figlo's platform.
  • The city of Cincinnati partners with SoMoLend to support small businesses.
  • Forbes ranks Keynote Systems "one of the best 100 companies in America."
  • US Airways implements MasterCard PayPass for in-flight purchases.
  • Keynote Systems DeviceAnywhere now integrated with HP's QuickTest Professional.
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 Finovate-F-Logo.jpgAmerican Banker looks at how UMB is implementing Dynamics' ePlate card technology.
  • peerTransfer rolls out international payment solution to the K-12 (kindergarten through twelfth grade) education market.
  • InComm Canada launches No-Fee Vanilla Prepaid Product Line.
  • The CUNA Technology Council presents MoneyDesktop with Best of Show Award at the 17th Annual CUNA Technology Council Conference.
  • Cachet Financial Solutions powers Simple's Remote Deposit Capture.
  • STL Beacon reports SoMoLend blazes new funding path in St. Louis through loans.
  • Expensify launches new feature: Commercial Card Reconciliation.
  • Desert News reports Virtual Piggy helps parents control children's online spending.
  • VentureBeat reports Equifax buying CSC's credit-services biz for $1B in cash.
  • Banno partners with ProfitStars to offer remote deposit, integrated bill pay.
  • Thomson Reuters upgrades user interface, functionality for FX Matching 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.
  • Billcom adds open APIs to banking platform.
  • Blackhawk Network Announces New Financial Service Products in Canada.
  • Startup Central looks at Heckyl, Clari5 and BankBazaar at FinovateAsia.
  • VentureBeat considers SecondMarket's partnership with Angellist.
  • M.O. interviews Constancio Larguia, CEO & founder of Weemba.
  • SiliconBeat looks at Personal Capital's 401(k) product.
  • Kabbage Becomes Exclusive Funding Provider for Bonanza Sellers.
  • American Banker reports: Bill.com Ties Cash-Flow Tools to Banks' Small Business Software.
  • Finextra reports UBank gathers transaction data for spending comparison site.
  • ShopKeep POS announces entry into the quick serve market with full kitchen printing capabilities.
  • Mashable lists SimpleTuition, ReadyForZero, and Tuition.io as tools to help minimize student loan debt.
  • Capital Access Network moves Headquarters to NYC.
  • Crowdfund Insider reports SoMoLend Announces New York Expansion.
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 Finovate-F-Logo.jpgDiversinet upgrades mobile health security platform.
  • Forbes reports: FreeMonee Makes Gift Incentives Pay.
  • Killer Startups interviews Nick Hungerford, Nutmeg CEO.
  • DemystData blogs about what it will show in Singapore at FinovateAsia next week. Come to see its latest tech on Nov. 6.
  • Crowdsourcing.org interviews Candace Klein, CEO of SoMoLend.
  • Business Insider reports: PayNearMe has beaten PayPal to the cash market.
  • ChartIQ integrates With StockTwits Unveiling First-of-Its-Kind Social Stock Charting iPad App.
  • Online mortgage applications continue to soar as Mortgagebot clients' loan volume advances toward 1 million mark.
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 Finovate-F-Logo.jpg
  • TIBCO Software named to Software Magazine's 500 Largest Software Companies in the World.
  • SoMoLend and GATE Global Impact make a deal that will facilitate investing in business expansion and job growth.
  • Goodwill to provide HelloWallet subscription to employees as well as community members with disabilities and unemployed.
  • Metaforic announces partnership with Appthority to reduce mobile app risks and enhance security.
  • Microsoft's new Windows 8-style UI now supported by the KonyOne Platform.
  • MSM Media awards eToro Best Social Media Trading Product for its OpenBook platform.
  • Ping Identity recognized as 1 of 5 high-growth businesses at Denver Startup Week.
  • National Gift Card Corp partners with InComm to offer gaming & music eGift cards for 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 Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgIDentity Theft 911 to offer Humana members ID management & credit monitoring services.
  • ThreatMetrix honored as bronze winner in the 4th annual 2012 Golden Bridge Awards.
  • Euromoney looks at SoMoLend as a funding alternative.
  • ReadyForZero answers questions about debt on Lifehacker.
  • Geezeo opens API to third party developers.
  • Monitise CFO John Brougham retires.
  • TIO transforms bill pay options for growing Hispanic marketplace through partnership with Progreso Financiero.
  • Arroweye Solutions' digital tech powers growth at GiftCard.com.
  • Allied Wallet partners with Swedish e-commerce payment services provider Klarna.
  • Janrain and Bazaarvoice team to enhance social shopping experience via social login.
  • Pageonce and Blackstone Tech Group partner to bring utility companies a mobile payment option for customers.
  • Idaho Central CU launches RDC powered by MShift.
  • MyBankTracker reports Fifth Third Bank Statements Now Available on Manilla.
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 Finovate-F-Logo.jpgReadWriteWeb seeks advice from Candace Klein, SoMoLend CEO, on winning startup competitions.
  • Dwolla wins Startup of the Year, CEO Ben Milne wins Startup Exec of the Year in Silicon Prairie Awards.
  • Xero Touch wins a Mobie Award at the 2012 Australian Mobile Awards.
  • PC World interviews Ping Identity CTO, Patrick Harding.
  • SimpleTuition lands $5 million from Horizon Technology Finance Corp.
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 Finovate-F-Logo.jpgSoMoLend launches small business competition.
  • The Next Web features Raphael Ouzan, BillGuard founder and CTO.
  • The Washington Post looks at HelloWallet's move to D.C.
  • TBA Services Company renews endorsement of Q2ebanking's services.
  • Credit Union Journal reports Franklin Mint FCU Adds Geezeo.
  • Braintree acquires Venmo for $26 mil, ranked 415 on Inc 500 list.
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 Finovate-F-Logo.jpgPayPal, Kabbage top PYMNTS.com's Slate of Innovator Award Winners.
  • Aria Assistance chooses Affinity Solutions to provide legal services.
  • Toy News reports Kids' online payment tool Virtual Piggy grows. Come to FinovateFall to check out Virtual Piggy.
  • Taulia featured on SAP's In the Cloud with Game-Changers to discuss how startups are "changing the game".
  • Gamify For The Win features PlayMoolah. Come see PlayMoolah's live demo at FinovateFall.
  • Forbes explains how Candace Klein, SoMoLend CEO, succeeds at 5 minute pitches.
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 Finovate-F-Logo.jpgCortera launches B2B Purchase Insights solution to enable sales, marketing & finance execs to research & understand customers.
  • American Banker reports: Guardian Analytics Offers Behavior-Based Fraud Prevention. Come to FinovateFall to check out its new technology.
  • miiCard joins Open Identity Exchange to help develop online trust standards.
  • Spa & wellness eGift cards by Spa Week available through CashStar's B2B Partner Network.
  • Verallia North America chooses Taulia to provide dynamic discounting to supplier network.
  • Commercial Business Systems & RC Olmstead partner with MoneyDesktop. Come see MoneyDesktop's live demo at FinovateFall.
  • SoMoLend launches small business competition.
  • Mashable features LearnVest. Check out their live demo at FinovateFall.
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 Finovate-F-Logo.jpgVirtual Piggy adds security service for parental consent of website use.
  • Cincinnati.com reports how SoMoLend helped a local business receive funding.
  • CU Times examines how Northwest FCU is using Digital Mailer's web-based deposit box solution. Come see Digital Mailer at FinovateFall.
  • Barron's looks at TradeKing's post-merger plan.
  • Huffington Post examines how BillGuard uses crowdsourcing.
  • CU Times reports: Kasasa Bids to Go Nationwide.
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 Finovate-F-Logo.jpg

This quarter's funding of over $120 million closely matches quarter 2 of last year, when Finovate alumni raised approximately $124 million.

Meanwhile, compared to last quarter's $150 million, Finovate alums pulled in around $30 million less this quarter.

Here's the quarter 2 summary for 2012:

April -- $2.5 million raised by 1 company

May -- $55.5 million raised by 5 companies

June -- Over $62 million raised by 8 companies

Note: Funding that companies received before they demonstrated at Finovate was not counted. If you know of any funding that is not on this list and should be, please send the name of the company along with a link to the funding information to julie@netbanker.com and we will add it.

  • SecureKey named eastern Canada's winner of contest hosted by UK Trade & Investment. See its live demo at FinovateFall in September.
  • American Banker reports Park State Bank clients now have access to MoneyDesktop's PFM.
  • Kasasa accounts have brought $55 million in interest to over 306k account holders at credit unions and community banks nationwide.
  • SecureKey wins one of three inaugural Secure Development Awards from Veracode.
  • Mashable reports StockTwits CEO 'Disappointed' With Twitter's Cashtags.
  • Lending Club appoints former Visa & Morgan Stanley Executive, John MacIlwaine as new CTO.
  • Small Business Trends reports Xero makes changes to improve cloud-based accounting software.
  • Check Point Software launches new appliances for Sri Lanka.
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 SoMoLendLogo.jpg

SoMoLend, a platform that connects small business borrowers with investors, today announced a partnership with CircleUp, an equity-based lending platform.

The purpose of the partnership is to help small businesses find a source of capital that is tailored to meet their needs. Because SoMoLend supports micro-loans, while CircleUp facilitates equity investments, businesses will be able to choose from a wider variety of funding options.

The companies will also benefit from sharing information, best practices, and joint education efforts.

To learn more about SoMoLend, watch its FinovateSpring 2012 demo.

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgInfoWorld looks at Keynote DeviceAnywhere's role in mobile app testing.
  • Busniess News Daily describes SoMoLend as a matchmaker for business.
  • TimesUnion reports Keynote DeviceAnywhere and Worksoft Partners form partnership.
  • Wipro wins 10 year contract from Manipal Health Enterprises to implement Hospital Information System.
  • DemystData and Chexar Networks announce the launch of improved scoring models for underbanked consumers.
  • MoneyDesktop now integrated into the Symitar Episys processing platform at Member Driven Technologies.
  • Kashoo launches MVP program to give accountants & bookkeepers what they need to bring their clients to the cloud.
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 Finovate-F-Logo.jpgPersonal Capital updates privacy and security policy.
  • Geezeo signs Westmoreland Community Federal Credit Union.
  • Bobber Interactive adds Scott Rigby, Ph.D, Founder of Immersyve Inc., to its executive team.
  • Mortgagebot launches consumer loan product to automate mortgage & consumer loan origination.
  • Pawtucket Credit Union selects Q2ebanking for ebanking services.
  • Virtual Piggy appoints best-selling author, Stedman Graham, to its board of advisors.
  • MyBankTracker comments on Money Desktop's integration of Deals into a PFM.
  • Mobile Payments Today looks at the CSI globalVCard.
  • Business2Community looks at Linkable Networks' technology.
  • Crain's Chicago Business covers Kabbage's Social Klimbing.
  • Acculynk announces a UX upgrade to their graphical PIN pad.
  • Luup powers National Bank of Abu Dhabi's real-time international account-to-account money transfer service via mobile.
  • Figlo wins Best Demo award.
  • SoMoLend wins Startup 2012 business pitch competition.
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 Finovate-F-Logo.jpgSoMoLend raises $1.17 in Seed Funding.
  • TradeKing and Zecco announce agreement to merge.
  • The Economist names CurrencyFair as an option for transferring money abroad.
  • The Economist looks at how Wonga, Mint, SaveUp, and ReadyForZero use Big Data.
  • Xconomy reports Kony Solutions receives $15 mil in Series C financing.
  • Finextra reports SafetyPay takes e-commerce cash payment service global.
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 SoMoLendLogo.jpg

After finishing up a Best of Show win at FinovateSpring last week, SoMoLend announced yesterday that it has raised a round of $1.17 million in seed funding.

The round was lead by CincyTech and also included:

    • Queen City Angels
    • North Coast Angel Fund
    • Blue Chip Partners
    • Shaker LaunchHouse
    • Eldar Investment LLC
    • Clarion Direct Investment LLC
    • Numerous individual investors 

The newly-launched startup plans to use the cash to complete the alpha version of the software, create market underwriting standards, and work on their capitalization plan.

To learn more about SoMoLend, watch its FinovateSpring 2012 demo, coming soon to Finovate.com

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBill.com integrates with NetSuite to deliver seamless, cloud-based financial management.
  • Inc.well interviews Candace Klein, CEO of SoMoLend, about crowdfunding.
  • Virtual Piggy partners with World Industries.
  • American Banker considers if Dwolla is a threat or opportunity for banks.
  • Soshable covers Klarna, CoverHound, Giftly, ZipZap, BillGuard, Dwolla and Virtual Piggy.
  • The Next Web takes a closer look at the tech that powers LearnVest.
  • BCSG partners with Sage to offer MyBusinessWorks customers the bookkeeping application Sage One Accounts.
  • ValidSoft announces partnership with Spindle to provide advanced payments security solutions to US-based customers.
  • Fast Company names Laura Mather, Founder and Chief Visionary of Silver Tail Systems, as one of the Most Creative People in Business.
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.

Here's a look at press coverage from FinovateSpring 2012 in San Francisco last week. For comprehensive coverage, be sure to check out Erin McCune's live blog on PaymentsViews, which covers all 63 presenting companies:

Press.jpg

2 Minute Finance
2MF @ Finovate Spring 2012 Conference
by Bobby Lee
Link

BillGuard Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Cardlytics Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Concur Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Flint Mobile Demo @ Finovate Spring 2012 Conference (Day 2)
by Bobby Lee

Mitek Systems Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

TIO Networks Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

WattzOn Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Bank Innovation
5 Finovate Demo-ers' News Catching Our Eye
by Mary Wisniewski

4 More Finovate Products We Like
by Mary Wisniewski

Bank Technology News
Best of Finovate Spring Day 1
by Penny Crosman

Best of Finovate Spring Day 2
by Penny Crosman

Dwolla Pitches Fast Fund Transfers, but Bank Participation is Vital
by Sean Sposito

Edo to Harness Payment Data to Spur Consumer Spending
by Victoria Finkle

WattzOn Helps Banks Help Customers Save on Energy Bills
by Sean Sposito

BankersLab Blog
CreditLab Launch: Reactions and Responses

BankNXT
Finovate, Simple, and Re-Imagining Banking Applications
by Bradley Leimer

Live at FinovateSpring 2012- day 1
by Jelmer de Jong

Live at FinovateSpring 2012- day 2
by Jelmer de Jong

BetaKit
CoverHound Debuts Comparison Tool for Auto Insurance 
by Cheronne Thurab 

Business Insider
Finally, a Mobile App That Helps You Save Money: Meet Urge
by Willy Staley

Business2Community
What Does $4.6 Billion in Coupon Savings Have to Do with Savvy Consumers?
by Andre Bourque

C'est pas mon idée!
FinovateSpring 2012: quoi de neuf?
by Patrice Bernard

Currency Marketing Blog
Four Conference in Four Days
by Tim McAlpine

Credit Union Times
MoneyDesktop Named Best of Show at FinovateSpring Conference
by Natasha Chilingerian

Daily Disruption
Flint Mobile Announces Beta Launch at Finovate and Closes $3 Million Round of Financing
by Tim Rygh

The Daily Guardian (BillGuard's blog)
Financial Community Awards BillGuard Best Of Show at Finovate
by Maryanne

DCisions Blog
DCisions at Finovate Spring 2012
by Kritika Ashok

Des Moines Register 
Dwolla offers software for free
by Adam Belz

Des Moines Register Blog
Dwolla, Social Money earn praise at national banking conference
by Marco Santana

Excelsior
Kuspit, el primer Finovate mexicano
by Alicia Salgado

Experian Blog
Business IQ Express... what is the media saying?
by Roslyn Whitehurst 

FamZoo Blog
Finovate Winners
by Bill Dwight

Finextra
Flint taps phone cameras for card payments

SoMoLend closes $1.17 million seed round

Forrester Blog
Finovate Spring 2012: Digital Financial Services Innovation
by Tiffani Montez

FP Pad
[Video Spotlight] inStream Solutions CEO Alex Murguia at FinovateSpring 2012
by Bill Winterberg

[Video Spotlight] iQuantifi CEO Tom White at FinovateSpring 2012
by Bill Winterberg

[Video Spotlight] Sarah Carter of Actiance at FinovateSpring 2012
by Bill Winterberg

Iconowatch
Accelerating Innovation at Finovate 2012
by Hans Eisenbeis

Investment News
Personal Capital launches iPhone app
by Davis Janowski

Lazy Man and Money
What's Hot and What's Not from Finovate 2012

Mercury News
Money Goes Mobile 

Montreal Gazette
Montreal's Wall Street Survivor teaches about investing
by Jason Magder

MyBankTracker
Can FinTech Stop You from 'Showrooming?'
by Willy Staley

MoneyDesktop: How Personalized Deals Shine in PFM Tools
by Simon Zhen

Save Your Wallet, and Maybe the Planet, with WattzOn
by by Willy Staley

On Deck Capital Blog
Photo Journal: Our Finovate Demo

PaymentsNews
Highlights from Finovate Spring 2012 San Francisco 

PaymentsViews
Live Blogging Finovate Spring 2012 San Francisco
by Erin McCune

The Paypers
ZipZap rolls out CashCade payment service

PaySimple Blog
PaySimple at Finovate
by Sarah Jordan

PC World
New Web Apps and Services for Business
by Yardena Arar

QuidLabs
Finovate Best in Show
by Aliisa Rosenthal

SecurityPark.net
BehavioSec voted 'Best of Show' for biometric solution by audience at Finovate Spring, San Francisco

Silicon Prairie News
With upgraded FiSync, Dwolla cuts 3-5 day wait to real-time
by Michael Stacy

Silver Tail Systems Blog
Finovate Spring Demonstrates a Growing Richness in Online Interactions
by Laura Mather

Social Lending Network
Roundup of Social Lending News - May 12, 2012
by Peter Renton

TechCrunch 
Capital One Snags Mobile Savings Startup BankOns, Team Moving To Capital One Labs
by Sarah Perez

Flint: A New Mobile Payment App For Small Businesses Picks Up $3M From Storm, True Ventures
by Ingrid Lunden

How Personal Capital Wants To Bring Money Management Into The Internet Age [TCTV]
by Colleen Taylor

Nearing The 1M User Mark, Expensify Adds 'Trips' Feature To Mobile Apps
by Colleen Taylor

The Anti-Groupon? Edo Launches Real-Time Local Offers Platform, Tied To Your Bank Card For Instant Credits
by Sarah Perez

Tradestreaming
List Of Winners Of Top Fintech Conference, Finovate
by Zack Miller

World News (wn.com)
Instream Solutions Ceo Alex Murguia At Finovatespring 2012

Our fifth annual FinovateSpring in San Francisco concluded a few hours ago. After seeing 63 demos over two packed days, the audience voted for their three favorites each day. The top seven overall were named Best of Show (see notes).

The winners (in alphabetic order):

  • BehavioSec for its new security layer based on user typing/swiping patterns
  • BillGuard for its card charge dispute platform, BillGuard FI
  • Dwolla for its FISync service to enable banks to originate real-time payments
  • iQuantifi for its new financial planning & advice tools
  • MoneyDesktop for its PFM platform and integrated "deals"
  • Personal Capital for its iPhone app and interbank funds transfer
  • SoMoLend for its P2P lending platform

We'll have videos of all 63 demos posted at Finovate.com as fast as possible (probably 2 weeks out).

Thanks to everyone who presented, attended, tweeted, swapped biz cards, schmoozed and helped push fintech forward. You are the greatest! 

----------

Notes on methodology
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.    
2. Attendees were encouraged to note their favorites as the day went on and choose three favorites from just the demos of that day. Ballots were turned in at the end of the last demo session each day.  
3. The exact written instructions given to attendees: "Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed. Note: Ballots with more than three companies circled will not be counted."  
4. The seven companies appearing on the highest percentage of submitted ballots were named Best of Show. 
5. Go here for a list of previous Best of Show winners.

SoMoLendLogo.jpg
Second, SoMoLend launched its P2P lending platform:

"SoMoLend is debuting its peer-to-peer lending experience by which business borrowers can raise capital by securing loans from friends and family, customers, and community supporters. 
Simultaneously, lenders can invest in the industries they care about most in their own neighborhood, fueling local economy and doing well by doing good all while earning a return."

Product Launched: Beta Launch: December 2011; Full Product Launch: May 2012

HQ Location: Cincinnati, OH
Company Founded: May 2011
Metrics: SoMo has over 1,000 borrowers seeking loans on our platform and we have closed on $1.2 million in seed capital. SoMo has 5 full-time employees and 6 contract employees.
Website: somolend.com

Introducing Candace Klein (Founder & CEO) and Eric Elias (Director, Product Development)

IMG_1803.JPG
IMG_1804.JPG

Watch Demos

Click above for video archives of all demos.

 

Twitter


See all Finovate tweets