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In the first quarter of 2014, 23 Finovate alums raised more than $592 million

And as the second quarter draws to a close, it's clear that a comparable cohort of alums have kept the pace.

Over the course April, May, and June, 28 alums raised significant amounts of capital ranging from Gremln's $100,000 to the $65 million raised by Lending Club. The quarterly total of $594 million is almost exactly the same as the previous quarter.

And given that some amounts are undisclosed (I'm talking about you, Holvi, RevolutionCredit, and Tuition.io), we're confident that Finovate alums have notched their second $600 million fund-raising quarter in a row.

How does this compare with the less recent past? Very well, indeed. 

In the second quarter of 2013, 15 alums raised more than $200 million. This was a major improvement on the second quarter from 2012, which featured 14 companies raising more than $120 million. 

Total raised for Q2 2014 = $594 million

April -- $217 million raised by 11 companies
May --  $226 million raised by 11 companies
June -- $151 million raised by six companies

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

Alumni News-- June 23, 2014

  • CEOs and founders from eToro, BehavioSec, TransferWise, The Currency Cloud, and Nutmeg earn spots on FN's 40 fintech leaders list.
  • Bill Harris, Personal Capital CEO, featured on CNBC to Personal Capital and how it differs from robo-advisors.
  • Investment News looks at the humans behind FutureAdvisor's robo-advisors.
  • Betterment adds municipal bonds asset class to make client's non-IRA portfolios more efficient.
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-- June 18, 2014

  • Finovate-F-Logo.jpgThreatMetrix integrates with Ping Identity's PingFederate ID bridge to provide contextual employee authentication.
  • Kony brings in $50 Million in Financing Led by SoftBank Capital.
  • Eight Finovate alums earn spots on CNBC's Disruptor 50 list: Motif Investing, TransferWise, Personal Capital, Wealthfront, Lending Club, Coinbase, Bill.com, and Betterment.
  • Umpqua Bank announces plans to transition to a scalable core solution from FIS.
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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Hats off to eight Finovate alumni for winning spots on CNBC's Disruptor 50.

2014 marks the second year of CNBC's Disruptor 50 list. The selection credits companies for being "forward-thinking" and working to discover untapped markets en route to becoming "billion-dollar businesses." Read more about CNBC's selection methodology here.

CNBC's David Spiegel wrote: 
"All of these companies entered traditional sectors and turned them upside down ... It's the power of a company to displace the established incumbents in its own industry, prompting a ripple effect throughout its economic ecosystem."

See CNBCs inaugural Disruptor 50 here. The 2013 list included alums boku, CircleUp, Lending Club, and Wealthfront.
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Many fintech startups have an impressive array of informed investors backing them up. But not every fintech startup can cite the support of a knight.

Along with Peter Thiel's Valar Ventures, Index Ventures, and addition investors, Sir Richard Branson has thrown his financial support behind TransferWise, the P2P money transfer specialist. Branson's investment, along with that of his fellow investors, means that TransferWise now sits with $33 million in total funding.

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Branson said in a statement, "Financial services such as foreign exchange have been ripe for disruption for decades, and it's great to see TransferWise bring transparency to the market."

According to reporting in TechCrunch, TransferWise plans to put the capital to use adding talent and intensifying marketing efforts. Said TransferWise CEO Taavet Hinrikus, "We're going to use this money to lead the charge against hidden bank fees and expose the problem to a wider audience."

The company has backed up this talk with a tough (Hinrikus calls it "cheeky") ad campaign that directly takes on the idea of bad bank behavior when it comes to hidden charges and fees. The ad has been somewhat controversial in the U.K., to say the very least.

TransferWise was recently in the news announcing that it had surpassed £1 billion in cumulative total volume of cash transferred across the border since May 2013. The company provides P2P money transfer services in more than 175 countries. TransferWise's reliance on P2P technology is one of the company's biggest edges on its competition, helping lower costs and provide money transfers to consumers that are less expensive than similar services offered by banks.

Founded in March 2010, TransferWise was most recently on the Finovate stage as part of our conference in London in 2013. See a demo of the company's technology at work here.

Alumni News-- June 10, 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.jpgFinovate Alums LendingRobot and Wallaby Among 2014 Innotribe New York Winners.
  • TransferWise Announces $25 Million Investment; Support from Sir Richard Branson.
  • Top Image Systems and Cintas Document Management form technology partnership to provide advanced BPO solutions.
  • PayPal President David Marcus leaves for Facebook job.
  • Arxan Technologies will now be sold by IBM as part of its portfolio of security products.
  • Insuritas signs Florida-based Tyndall FCU ($1.1 billion in assets) to provide insurance options to its almost 100,000 members.
  • P2Binvestor reaches $2 million in deals over the past 2 months after providing funding to Colorado-based beverage company.
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.
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In the eleven months since May 2013, TransferWise has seen its cumulative total volume of cash transferred cross-border climb from just over £100 million to £1 billion.

Based in London, TransferWise provides peer-to-peer money transfer services in more than 175 different currencies. The platform works by connecting people looking to transfer money from Country A to Country B, with people looking to make the exact opposite transfer.

TransferWise has raised more than $7 million since its founding in 2010. The lion's share of the capital has come from a Series A round almost a year ago led by PayPal co-founder Peter Thiel's Valar Ventures.

Said TransferWise co-founder Taavet Hinrikus of the newly-reached milestone: "it shows how much people need modern financial services - something where it is modern, fast and cheap."

Speaking of modern, fast and cheap, TransferWise is also announcing the launch of its Android app. Said Hinrikus, "there is much more that money on mobile should mean to people and ways they can be in control."

The latest news from TransferWise shows how the currency transfer business has heated up. Companies like CurrencyFair and Azimo, both Finovate alums also, have announced reaching significant milestones or raising significant VC capital in recent weeks, as well. And now, even more attention is being paid to companies like these as potential partnership with Facebook, should the social networking innovator act on rumors that it is getting into the money transfer game.

TransferWise demoed its technology as part of the FinovateEurope show in 2013. See the company in action here.
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Who knew? More than half of the world's top 10 most innovative companies in finance are Finovate alums.

Don't just take our word for it. Fast Company published its roster of innovation in the financial space as part of their quest to find those companies that are "creating radical new approaches to move cash from one place to another." 

And among such widely-known and talked-about entities as Square and Bitcoin, we find more than a handful of innovators who have used the Finovate stage to help show their technology to the world.

Take a look at the companies below, accompanied by Fast Company's take on just what makes each innovator truly unique.

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Fast Company: "For connecting banks and other clients to frazzled end users when problems arise."



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Fast Company: "For daring to take on the fee-laden credit card establishment."


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Fast Company: "For slashing pesky foreign-exchange costs by creating a transparent peer-to-peer network."



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Fast Company: "For establishing a single login for web users and taking a giant leap toward eradicating the scourge of the Internet: passwords."


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Fast Company: "For luring international customers with a mobile-payment network that lets them purchase with a simple click."





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#10 eToro
Fast Company: "For creating a social network that lets traders emulate those with skin in the game."

Finovate Alumni News-- April 15, 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.jpgTransferWise announces more than $1 billion in P2P transfers.
  • Insuritas picked by Nutmeg State Federal Credit Union to open and manage its turnkey insurance agency. See Insuritas demo at FinovateSpring in San Jose.
  • Streetwise reports: HelloWallet Signs Another Big Deal with Aon Hewitt.
  • CardFlight wins Electronic Transactions Association's 2014 Technology Innovation Award.
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 24, 2014

  • TransferWise recognized as "boldest small company" in winning FT's Boldest in Business award for 2014.
  • BBVA follows Simple acquisition with launch of new digital banking unit.
  • Currency Transfer featured in Wired UK as Startup of the Week.
  • BillGuard invites beta testers to try its new Android app.
  • Mail Tribune highlights the importance of Credit Karma and Credit Sesame.
  • Ping Identity purchases Accells Technologies to make mobile devices into a tool for logging you in to all of your cloud-based services in one shot.
  • BellaDati launches the next level of visual data discovery with new release.
  • Matt Turck examines opportunities for Kensho and Quantopian in a Bloomberg-dominated world.
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 24, 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.jpgNICE Systems named to Fast Company's 50 most innovative companies list.
  • American Banker takes a look at BBVA's acquisition of Simple.
  • MasterCard brings in-app payments to MasterPass; acquires m-wallet startup, C-Sam.
  • CNBC Finance hosts Kasasa CEO Gabe Krajicek to discuss the drive to local banks and credit unions.
  • Arxan Technologies partners with IBM to protect mobile apps against attacks.
  • HelloWallet launches Insights app to help HelloWallet users better understand their financial habits.
  • InterAksyon features TransferWise in column about transferring money overseas.
  • Realty Mogul's real estate portfolio surpasses $85 million mark.
  • ExactCPA Tax Solutions introduces its app of the week: Kashoo Accounting.
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.jpgNous makes it to the finals of UK's Million Pound Startup competition. Check them out at FinovateEurope in London.
  • Luminous partners with Jack Henry & Associates. Come see them both at FinovateEurope next week.
  • Pindrop Security achieves record growth in 2013 fueled by rising phone-based fraud.
  • Sun Hearlad features Finovera as a new site to help manage personal finances.
  • In yet another partnership, Refundo partners with Stripe to process payments for tax preparers.
  • CNB Texas launches responsive design website from Banno for greater cross-sell potential.
  • Top-Five U.S. Bank makes million dollar investment in software licenses for Kofax's Mobile Capture. Come see Kofax's live demo at FinovateEurope.
  • VentureBeat lists TransferWise among London's hottest startups.
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 appoints Patrick Kehoe as Chief Marketing Officer.
  • GRANCO Federal Credit Union to offer Geezeo powered PFM.
  • Mitek's Mobile Photo Payments now offered by a large, unnamed cable, telecomm and media companies.
  • Lodo Software changes its name to D3 Technology.
  • miiCard adds former SWIFT CEO Lázaro Campos, previous VP of SecureWorks Richard Lewis, and prior Clydesdale executive Kenny White to its Board of Directors.
  • Zopa secures £15 million from London-based Arrowgrass Capital Partners.
  • Crowdfund Insider looks at SeedInvest and its comment letters to the SEC on crowdfunding and the JOBS Act.
  • LendUp launches educational video series to help combat identity theft.
  • Flint Mobile announces start of partner program for ISOs, MSPs, and ISVs.
  • Financial Times column on online banking and the cloud features Fidor Bank.
  • Your Story features TransferWise and its co-founder Taavet Hinrikus.
  • InComm and H&R Block enable consumers to reload their H&R Block Emerald Card at more than 60k Vanilla Reload locations in the U.S.
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.

The FinTech 50 awards highlight 50 European-based companies to watch over the coming year. The companies are selected by a panel of 15 fintech professionals. This year, 19 of the selected companies are Finovate alums.

Here are the Finovate alums selected, listed in alphabetical order:


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AcceptEmail, for its electronic billing and payment system that allows customers to make payments straight from their email.

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BehavioSec, for its technology that uses behavioral biometrics to verify users, creating a secure environment without extra friction.

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Credit Agricole Apps, for its online app store where financial apps are co-created between clients and developers.

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eToro, for its social trading and investment network


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ETRONIKA, for its full suite of ebanking channels and BANKTRON management platform.

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Fidor Bank, for its innovative online banking community.

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Five Degrees, for its integrated banking platform that extends from back-end systems to client-facing technology.

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FreeAgent, for its SMB-focused online accounting system.

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Help my Cash, for its recommendation engine that informs consumers of their options when choosing and negotiating financial services.

Holvi, for its smart checking account for group activities.

Ixaris, for its innovative global applications based on open-loop prepaid card schemes.
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Klarna, for its e-commerce payment solutions.

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mBank, for its Bank 3.0 approach to online and mobile banking.

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Meniga, for its white-labeled PFM and next-generation online banking solutions.

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Nutmeg, for its online savings and investing service that helps users manage their money.

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The Currency Cloud, for its Cross Border Payments as a Service product that optimizes exchange rates and payment networks for both parties in a currency exchange.

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TransferWise, for its platform that allows expats, foreign exchange students and businesses to move money globally.

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Wonga, for its service that provides small, short term cash advances to UK consumers online.

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Zopa, for its P2P money lending service that allows borrowers and lenders to deal with each other directly.


Finovate Alumni News-- January 21, 2014

  • Thumbnail image for Finovate-F-Logo.jpgFenergo taps Stan De Schepper for SVP, Americas.
  • National Bank of Andrews, AimBank to adopt Temenos T24 core processing platform. See Tememos at FinovateEurope in London.
  • Business Review Europe takes a look at Azimo's expansion into Austria.
  • GMC Software Technology recognized as industry leader in latest Forrester Research Wave report.
  • Technics and Time feature PayPal and TransferWise in list of ways to pay without your wallet.
  • Swipely unveils its "Winter '14" release to extend its service to help restaurant and hospitality customers make smarter decisions.
  • SafetyPay signs agreement with Brazilian firm Privalia.
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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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.

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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.

  • Thumbnail image for Finovate-F-Logo.jpgMoney Under 30 reviews the Moven app.
  • Bloomberg BusinessWeek takes a look at Comarch's report on banking in London's "Tech City".
  • Taavet Hinrikus, co-founder of TransferWise, weighs in on the state of the UK's financial technology industry.
  • ThreatMetrix protected 1 in 4 U.S. e-commerce transactions on Black Friday and Cyber Monday.
  • Cartera Commerce launches American Airlines' Mobile AAdvantage shopping site.
  • The Guardian profiles "robo-advisors" Betterment, LearnVest, FutureAdvisor, Wealthfront, and Jemstep.
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-- November 21, 2013

  • Thumbnail image for Finovate-F-Logo.jpgHPC Wire takes a look at the partnership between Toopher and Texas Advanced Computing Center.
  • Regulators green light IDology plans for New Jersey expansion.
  • Jackson Free Press uses data from Manilla to source column on student loan debt.
  • Michigan-based ECCU introduces a responsive designed website powered by Banno.
  • MyBankTracker reports: SimpleTuition's SmarterBank to Shut Down Due to Low Participation.
  • International Business times considers how Holvi and TransferWise are revolutionizing banking.
  • Tagit powering Maybank P2P m-payment Service in Singapore.
  • BancVue's Kasasa wins Five 2013 MarCom Awards.
  • Betterment CEO Joe Stein talks about the online RIA industry with RIA Biz.
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.jpgCardFlight wins best startup at New Jersey Tech meetup.
  • Firmology interviews Jason Richelson, CEO of ShopKeep POS.
  • Humanitarian organization Oxfram partners with TransferWise to help British Indians avoid fees.
  • InComm launches Cashtie cloud match service.
  • Flint raises $6 million in Series B funding.
  • Taulia was recently announced as a 2013 Bully Award winner.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News-- October 21, 2013

  • Thumbnail image for Finovate-F-Logo.jpgAlvaro Soltero of Leaf takes a look at the future of payments.
  • Forbes.com features an interview with Brett Meyers, CEO of CurrencyFair.
  • MasterCard launches TravelController to improve expense reconciliation.
  • TSYS, PayPal, & PaySimple listed in top 10 multi-currency processing solutions for October.
  • Lendio launches beta version of Lendio for the loan specialist.
  • FORMFREE and Equifax partner to streamline borrower asset checks.
  • Prepaid Resources announces formation of Trefoil Technology.
  • TransferWise tops £1 million ($400,000 USD) mark in international money transfers.
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.
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  • Silicon Prairie lists Banno and Dwolla as 2 Iowa startups to follow on Twitter.
  • Wakefield reports: Bolstr is navigating the legal complexities of crowdfunding.
  • PlayMoolah working with OCBC Bank for the second year running to teach children about saving.
  • FIS announces new prepaid card technology agreement with KeyBank.
  • WebrazziTV interviews miiCard marketing manager Cassie Anderson at Bitcoin London.
  • Finovate alumni Zopa, TransferWise, miiCard, and LICUOS highlighted in Innotribe co-founder Matteo Rizzi column on banking.
  • Invitations for Google Wallet for Gmail start arriving for registered early adopters.
  • All Things D profiles Motif Investing. See them in action at FinovateFall in September.
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.jpgPennsylvania-based First National Community Bank selects a core banking system from Fiserv.
  • Check Point Software launches 13000 Appliance solution set for high-performance data center cyber security.
  • Accounting and advisory firm William Buck and Xero partner to offer clients Xero as accounting solution of choice.
  • StreetFight Magazine features case study of ShopKeep POS use in cupcake bakery.
  • IntelliResponse announces VAR partnership with Australia-based BolderView.
  • SeedInvest CEO Ryan Feit talks with the Street.com about the effect of fund advertising rule changes on crowdfunders.
  • Built in Chicago blogger profiles Pangea Payments and the trillion dollar remittance market.
  • 2013 Payment Hub report names ACI Worldwide "Best in Class" in payments capability.
  • InComm Launches Pre-Top to Expand Availability of Prepaid Solutions.
  • TransferWise featured in American Banker column on the growing online/mobile payments 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.
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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.jpgID Analytics and IdentityMind partner to reduce online fraud and stop merchant account creation fraud.
  • SimpleTuition adds 10 U.S. colleges as partners.
  • United Texas Bank selects Q2ebanking platform to accelerate unified virtual banking for anytime anywhere access.
  • SecureKey and Intel beef up authentication for MasterPass.
  • ShopKeep POS grows To 6.5K+ merchants.
  • Fairwinds Credit Union chooses Intuit for digital banking.
  • Realty Mogul and Entrepreneurial Finance Lab selected as 2 of 5 SWIFT Innotribe finalists of Startup Challenge New York.
  • Bank Innovation features how Entrepreneurial Finance Lab and VoiceTrust can combine psychographics and biometrics to revolutionize financial services.
  • ForexSmash reviews Currensee Social Trader.
  • Kansas City Business Journal profiles EyeVerify founder and CEO Toby Rush.
  • GigaOM Pro Blog takes a look at TransferWise through the lens of traditional Hawala informal money transfer networks.
  • My Money Blog reviews Realty Mogul and the concept of fractional investment property ownership.
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.jpgZopa Safeguard now has 15,000 users and has had £16m lent on platform. Zopa reaches £300m in money lent to borrowers in the UK.
  • Bank Innovation reports: Cardlytics Has 33 Million Active Users at 400 Banks.
  • Inc. Magazine creates infographic of how to select the right crowdfunding platform. Bolstr and SeedInvest among choices.
  • CommunityLend's FinanceIt partners with Pivotal Payments, a credit card payment processing company, to enable merchants to process loans directly at the POS.
  • Capital Access Network opens new facility in Lindora, Costa Rica to support growth.
  • Finect president Jennifer Openshaw talks networking for financial professionals on MarketWatch Radio.
  • Street Fight Mag includes Placecast among its "5 Tools for Point of Interest Geo-Targeting".
  • TransferWise launches GetPaid to make it easier to get compensated when working with international clients and partners.
  • Developer Tech features Keynote Systems' CEO Umang Gupta.
  • Point of Sale highlights Finovate alumni Flint Mobile and PayPal.
  • Social Trading Guru reviews ayondo 3.0.
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.jpgXero and Stripe partner to simplify online payments for small businesses.
  • Bank Innovation reports: Mitek Launches V 2.0 of Mobile Photo Bill Pay solution.
  • Boku teams with PlayJam to bring mobile payments to smart TVs.
  • SimpleTuition partners with College Parents of America to bring student loan and loan comparison insight from SimpleTuition its members.
  • Creditnet.com ranks the Best Personal Finance Software of 2013 (So Far): 1) Personal Capital, 2) Mint.com 3) ReadyForZero.
  • Emida adds Colombia to list of operating countries.
  • Kofax launches Analytics for Capture business intelligence solution.
  • Pymnts.com interviews TransferWise co-founder Kristo Kaarmann.
  • RightStartups takes a look at Betterment as a "new concept in a very traditional industry."
  • Dynamics launches "Everything Else is Just Plastic" TV Ad.
  • TradeBox Media reviews Zooz's retail app plug-in.
  • International Business Times looks at how Arxan's technology is used to protect mobile banking apps from attacks.
  • Newfination interviews Uri Gruenbaum, co-founder and CEO of TipRanks.
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.

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  • CMS Wire reports: Linkable Networks: Improving the Customer's Path to Purchase.
  • Lighter Capital appoints Jeff Seely to board of directors.
  • Pymnts.com reports: BillGuard Acts As Antivirus For The Disease Of Fraud.
  • Expensify to begin new pricing structure.
  • Global Finance magazine names Taulia the best worldwide invoice discount management solution.
  • Expensify will soon be made available to over 250,000 Citrix enterprise customers.
  • BillFloat extends SmartPay pilot program with Radio Shack partnership.
  • Newfination interviews Mitch Fox, co-founder of GoodApril.
  • Wired's Beyond the Beyond column features OpenCoin in a report from the Bitcoin 2013 business convention.
  • ProfitStar's iPay Solutions named among best places to work in Kentucky.
  • Billhighway adds the Friends of Birmingham Historical Museum & Park as new client.
  • TransferWise wins a spot on Mashable's list of "20 Hot London Startups You Need to Watch."
  • Yodlee and Check (formerly Pageonce) are among the companies highlighted in American Banker column on reimagining PFM for mobile.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
TransferWise_logo3.jpgLed by Valar Ventures, the $6 million in capital represents the first European investment for Peter Thiel's venture fund, and a major boost to the London-based, peer-to-peer money transfer startup.

Also participating in the round were existing investors including SV Angel.

In the two years since inception, TransferWise has raised more than $7 million in capital. The company, headquartered in London's Tech city, was founded by Taavet Hinrikus and Kristo Kaarmann, and serves as an alternative to traditional money transfer services offered by banks and other FIs.

TransferWise supports transfers between major European currencies such as the Euro, British Pound, and Polish Zloty, as well as the Danish, Norwegian, and Swedish Krone. 

At this time, transfers from the U.S. dollar into European currencies are not available through the service, but are expected in the near future. TransferWise is also looking to add another 12 new currencies, as well as launching in France, Germany, Italy, and Spain in 2013.

TransferWise has been referred to as a "simplified PayPal for business banking" and last month won Estonia's "Best E-Service" contest. Hinrikus also made headlines this spring with his project to provide $100 million in fee-free cash transfers to European startups. The company has transferred more than £100 million for its customers since inception, more than half of that amount in the last six months.

TransferWise presented their technology as part of FinovateEurope in February. To see their demo, visit them at our FinovateEurope 2013 video page here.

Finovate Alumni News-- April 26, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSeventy2Minutes reviews TransferWise as a PayPal alternative.
  • Wallaby Financial to participate in Frequent Travel University educational event. See them demo at FinovateSpring.
  • Credit Agricole's social media bank celebrates its second year.
  • Social investment network eToro reaches 50 million trades.
  • Access Softek and Geezeo partner to integrate Access Softek's mobile banking with Geezeo's PFM.
  • Guardian Analytics unveils FraudMAP Wire product to prevent wire tap.
  • San Francisco Business Times names Taulia one of the 2013 Best Places to Work in the Bay Area.
  • VentureBeat reports Bill.com has converted more than 40% of its customers from checks to electronic ACH transactions.
  • American Banker reports: Actiance Updates Social Media Management Software.
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.jpgAdobe and SapientNitro form partnership. Come see Adobe's new tech at FinovateSpring.
  • Forbes lists Zopa as 1 of 10 top P2P lending platforms in Europe. 
  • MicroStrategy unveils upgrade to company's enterprise analytics platform. See them demo at FinovateSpring in May.
  • Bank Systems & Technology takes a look at ACI Worldwide's new Universal Payments Platform.
  • CommunityLend's FinanceIt named 1 of Branham300's Top 25 Up-and-Coming companies.
  • Is TransferWise a "simplified PayPal for business banking"?
  • ACI Worldwide to offer Mobile Bill Pay Suite.
  • Bank Investment Consultant features social media resource Finect. Come meet Finect at FinovateSpring in San Francisco in May.
  • Newser takes a look at Green Dot's new online bank: GoBank. See a demo of GoBank at FinovateSpring.
  • Motherhood Moment interviews TipRanks CEO and co-founder Uri Gruenbaun. See TipRanks in action 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 Alumni News-- April 23, 2013

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  • Executive Magazine profiles TransferWise and talks Middle East expansion.
  • Reference Data Review takes a look at Fenergo's efforts to make compliance easier and more efficient.
  • ACI Worldwide announces Universal Payments Platform.
  • TransferWise wins Estonia's "Best E-Service" contest.
  • Joe Brancucci, CEO of GTE Financial joins Mortgage Harmony Advisory Board.
  • Keith Kelly, Mortgage Harmony CEO, awarded a Tech All-Star Award by Mortgage Banking Magazine. Check out Mortgage Harmony's live demo at FinovateSpring.
  • Ping Identity named 2013 Top Workplace by The Denver Post for second consecutive year.
  • SecureKey named Top Growth Company in 2013 Branham300 list of Top 10 Growth Companies.
  • Global Security Services Company selects Kofax to automate accounts payable operations in Latin America. Check out Kofax at FinovateSpring.
  • ProfitStars wins 2013 Payments System Awards from NACHA - the Electronic Payments Association.
  • ACI Worldwide's Architech Mobile Banking provides PFM, integrated bill payment and account-to-account transfers to iOS, Android smartphones.
  • Azimo wins SWIFT Innotribe challenge; advances to finals at Sibos 2013 in Dubai.
  • peerTransfer now serving more than 300 colleges and universities, has partnered with 48 new educational institutions during the first quarter of 2013.
  • Zooz closes $2 million Series A round led by XSeed Capital. See Zooz in action at FinovateSpring in May.
  • GeoComply and Locaid team up to bring geolocation services to mobile and Internet gaming industry. See Locaid demo at FinovateSpring in May.
  • Innov8social interviews Julia Streuli, head of communications for Bright Funds. Join Bright Funds in San Francisco for 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 15, 2013

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  • 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.
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Taavet Hinrikus, co-founder of TransferWise and part of the original team that developed Skype, has a message for European start-ups:

Stop wasting money on international money transfers.

Whether it's paying for goods and services rendered abroad, traveling to attend a conference overseas, or securing capital from international investors, start-ups can burn through a lot of money just dealing with transferring from one currency to another.

Through his new initiative, Hinrikus looks to both raise awareness of the potential cost-savings of services like his TransferWise, as well as make international cash transfers more than a little easier for the first 1,000 start-ups who sign on to his campaign.

Specifically, Hinrikus will give 1,000 EU start-ups vouchers to cover up to $100,000 in international money transfer fees.  What's this worth? For one example, a start-up company that sent €50,000 to a recipient seeking pounds could save almost €250. This is in addition to the savings TransferWise provides users of its service by way of its more competitive, P2P-based exchange rate.

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The savings, Hinrikus hopes, will allow these small companies to focus on growing their businesses, and less on how much money is being wasted on money transfer fees.

Hinrikus's move has attracted the support of technology notables like Peter Thiel, co-founder of PayPal, and Niklas Zennstrom, co-founder of Skype. Sir Richard Branson has also weighed in with his support, referring to the campaign as a "way of making start-ups truly international."

Start-ups interested in participating in the program have until May 10, 2013 to get in touch with TransferWise. More information is available here.

TransferWise supports currency transfers in a number of European currencies such as the Euro, the British Pound, the Polish Zloty, and the Danish, Swedish and Norweigian Krone. Each of these currencies may also be converted into U.S. dollars.

TransferWise was one of the companies that presented their currency transfer technology during FinovateEurope in February 2013. See TransferWise's demo here.

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