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Alumni News-- August 27, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMonitise announces digital commerce and resourcing alliance with IBM.
  • ThinkAdvisor takes a look at the deal between the San Francisco 49ers football team and Wealthfront.
  • The Globe and Mail profiles David Lloyd and IntelliResponse as part of its Innovators at Work contest.
  • Fortune magazine column discusses Ripple and the "Internet of value exchange."
  • ValueWalk: FutureAdvisor can be used as a free tool to rate your own investment decisions or a low-cost asset management service.
  • Chicago Tribune's Blue Sky Innovation visits Bolstr for video interview.
  • Bill.com CEO and co-founder Rene Lacerte writes about the "new sharing economy" for Inc.com.
  • CashStar announces spot in Inc 500|5000 for a second year in a row.
  • EyeVerify opens new offices to accommodate recent growth.
  • Locaid partners with Danal to leverage location services in fight against financial fraud.
  • Wallaby Financial named finalist in Samsung Gear App Challenge 2014.
  • ZDNet: Xero continues march into U.S., launches partner marketplace.
  • The Independent looks at how BehavioSec uses behavioral biometrics.
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 18, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSilanis Technology releases e-signature solutions for Salesforce and Microsoft Dynamics CRM. See Silanis at FinovateFall 2014 in New York.
  • Michael Grillo of ACI Worldwide talks about the role of mobile devices in fighting payments fraud.
  • Klarna announces appointment of Jon Kamaluddin to its Board of Directors.
  • SumUp earns double-digit million dollar investment led by Life.SREDA
  • Xero's Customer Experience team wins Bronze Stevie Award in 2014 International Business Award. Check out Xero's presentation at FinDEVr in San Francisco this October.
  • TechCrunch: Coinbase acquires blockchain explorer, Blockr.io.
  • Silicon Angle: Why Cardlytics ditched sample data for its real-time analytics tactics.
  • EE Times reviews the similarities and differences between Ripple and bitcoin.
  • Forbes column on "the other sharing economy" profiles Expensify
  • Investors.com checks in with Betterment on strategies for meeting retirement financial challenges.
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 13, 2014

  • Finovate-F-Logo.jpgNetbanker features 2012- 2013 fintech graduates from Y Combinator:  TrueLink Financial, Coinbase, and LendUp.
  • Netbanker features 2009- 2012 fintech graduates from Y Combinator: ZenPayroll, SmartAsset, TrustEgg, FutureAdvisor, ReadyForZero, and WePay.
  • American Banker considers how Diebold is leading the way on the branch of the future.
  • peerTransfer surpasses 500 clients, while processing over $1 billion in international payments.
  • Heartland Payment Systems buys out remaining shareholders of tablet software and hardware startup, Leaf.
  • ACI Worldwide announces completion of ReD acquisition.
  • Lending Club mentioned in HBR Blog's look at how new lending technology can help small businesses.
  • Silanis Technology partners with loan management software specialist Calyx Software. See Silanis at FinovateFall 2014 in September.
  • planwise teams up with Informa Research Services to launch plug-and-play search tool of real estate agents and brokerages.
  • NextAdvisor column in HuffPo highlights LendUp as alternative loan option for the underbanked.
  • Pandai announces joint cooperation with China and Hollard to leverage their experience in the loan insurance market.
  • Xero and Square partner to sync Square transactions and give a business a view of their finances. See Xero present at FinDEVr. 
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 5, 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.jpgMasterCard's Ajay Banga sees MasterPass in 14 markets by year's end.
  • Fox Business interviews BillGuard founder and CEO Yaron Samid live from Tel Aviv.
  • BBVA Compass and Zenmonics to design and test a tablet-based sales app. See Zenmonics at FinovateFall 2014 in New York.
  • Thailand's Kasikornbank selects core banking technology from FIS.
  • Los Angeles Times Business section features Oink.
  • Financial Samurai reviews FutureAdvisor, comparing the company to Wealthfront and Betterment.
  • MarketInvoice partners with Xero to speed financing for small businesses.
  • Blackhawk Network to bring eGift options to Barclays' Pingit mobile banking 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.

Alumni News-- August 1, 2014

  • Finovate-F-Logo.jpgStartup Daily: Startups leverage Xero's API as part of their growth hacking strategy. Check out Xero's API up close at FinDEVr in San Francisco September 30 - October 1.
  • Expensify grows from 24 employees in January to 45 employees in July.
  • Cachet Financial Solutions receives allowance for patent that covers aspects of its RDC platform to deposit bank checks using their Apple desktop, laptop or mobile device.
  • PlayMoolah's WhyMoolah launches Act 2 to enable gamers who completed Act 1 to play out their lives from age 35 to 55.
  • ZipZap raises $1.1 million in new funding.
  • Your Mark on the World interviews AdaPia d'Errico, Chief Marketing Officer for Patch of Land. See Patch of Land demo at FinovateFall 2014 in New York.
  • defi Solutions CEO Stephanie Alsbrooks talks loan origination in Non-Prime Times.
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-- July 29, 2014

Finovate-F-Logo.jpg
  • Concur partners with Uber to allow Concur users to link their accounts and automatically send Uber receipts to their expense reports.
  • The Financial Brand looks at opportunity for banks and credit unions in the Loop Visa partnership. 
  • Open Bank Project making its API available during hackathon in September.
  • TechCrunch explores Pellucid Analytics' take on PowerPoint pitch books.
  • Seed Me! Thinknum raises $1 million in seed funding round.
  • Feature on robo-advisors highlights seven alums: Betterment, Financial Guard, FutureAdvisor, Jemstep, Personal Capital, SigFig, and Wealthfront.
  • Macwelt reviews banking app Numbrs.
  • Bank Systems & Technology points to Moven as a nontraditional financial service provider "gunning" for banks.
  • Xero partners with MarketInvoice to bring faster funding to UK 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.

Alumni News-- July 24, 2014

  • C. Hoare & Co. choose TSYS's Prime 4 card management solution.
  • Pymnts interviews Vib Prasad, Group Head of MasterCard's MasterPass about digital wallets.
  • CSI globalVCard launches B2B payment system called globalVCard travel, designed to alleviate many of the corporate travel industry's biggest pain points
  • FreeAgent integrates with PayPal Here to make it easier for UK small businesses to get paid faster.
  • Xero confirms it's planning on filing for a U.S. initial public offering in 2015.
  • Actiance expands on its support of Microsoft Office 365 Exchange Online, to help manage risks of Office 365 Lync Online.
  • LoopPay earns investment from Visa.
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-- July 16, 2016

  • Finovate-F-Logo.jpgpeerTransfer and Nelnet expand partnership, enhancing international payment options for educational institutions.
  • Xero MD Chris Ridd featured on Qantas radio. Check out Xero at FinDEVr, the first event for fintech developers.
  • Micronotes releases Mobile-SMS to automate the referral process through the mobile SMS channel to drive more sales.
  • Lendio launches program for brokers that helps more SMBs find financing by giving brokers and ISOs access to Lendio's lending options.
  • New app from The Members Group alerts Google Glass wearers if a Dwolla-accepting merchant is nearby.
  • mBank deploys authentication technology from HID Global.
  • Jack Henry launches jhaEnterprise Workflow solution.
  • Coinbase integration brings bitcoin payments to Shopify merchants.
  • Zooz raises $12 million in round led by Blumberg Capital.
  • MasterCard's MasterPass to enable in-app payments by August.
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.
  • Xero and ASB launch business to bank payments.
  • Bancbox and Kingdom Trust Company partner to streamline the crowdfunding and P2P lending platform for the IRA investor.
  • Actiance tops Forrester's social risk and compliance product list.
  • Strands hires new CEO, Erik Brieva.
  • Dealstruck and Entrepreneurial Finance Lab named finalists in Core Innovators Challenge.
  • FIS announces launch of FIS Instant Card to accelerate FI's ability to provide new or replacement cards.
  • Chris Skinner highlights the relationship between SmartyPig and ICICI Bank in a feature on Banking-as-a-Service.
  • ZDnet takes a look at ShopKeep POS, including its recent $25 million investment form Thayer Street Partners.
  • The Motley Fools calls Loop, the invention that "will change the way you pay for everything."
  • The Rock Trading Ltd. partners with Jumio for real-time ID verification services.
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 Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCheck out our Twitter highlights of FinovateSpring 2014 - from the opening demo to Best of Show.

  • LearnVest, Mint, and FutureAdvisor featured in Wall Street Journal column on managing your own money.
  • Forbes highlights Demyst.Data, showing how Big Data can be used to determine loan suitability for the underbanked.
  • Xconomy profiles authentication specialist, Jumio. Video of Jumio's FinovateSpring 2014 demo will be available soon at Finovate.com.
  • Kashoo and Xero are among the cloud accounting apps reviewed in a new ebook by the Sleeter Group.
  • American Banker features Ondot Systems' use of debit on/off controls via mobile device.
  • Backbase launches Backbase Engage, an out-of-the-box digital banking solution for FIs.
  • CUneXus proceeds to Innotribe Startup Challenge 2014 Semifinals.
  • Tradeshift extends "App" ecosystem and offers co-investment to encourage development on its platform.
  • Wearable tech company GTX now using Stockr to communicate directly with the investors.
  • Motherboard looks at Zighra's next-gen kinetic ID that will recognize users by how they swipe on their phone.
  • MoneyDesktop named 1 of 8 of Utah's Most Innovative Products.
  • SafetyPay partners with UOL BoaCompra, a leader in monetizing online games for Latin America.
  • VentureBeat looks at a government program that awards grants to companies working on an "Identity Ecosystem," bringing to mind FinovateSpring 2014 alum, ID.me.
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 1, 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.jpgEight companies earned Best of Show awards at FinovateSpring 2014 in San Jose. 
  • Backbase launches Backbase Engage, an omni-channel, out-of-the-box, banking platform.
  • PYMNTS.com interviews the CEO of TSYS acquisition, ProPay.
  • Xero's B2B cloud payment solution now live in Australia thanks to a partnership with ASB Bank.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News-- April 23, 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.jpgNous launches two-month pilot program with Hong Kong hedge fund. Launched at FinovateEurope in February, Nous' Spark Profit has 25,000 registered users in 194 countries.
  • Heritage Bank of Nevada to deploy Fiserv's deposit reclassification solution, ReserveLink.
  • AmeriServ signs real-time account processing agreement with FIS to deploy TrustDesk.
  • TSYS to discontinue operations in Japan after almost 14 years.
  • Billhighway & RallyBound partner to make multi-channel fundraising a reality for nonprofits.
  • Zendesk customer service software partners with Xero.
  • PerformanceIn interviews Linkable Networks CEO, Tom Burgess.
  • Insuritas working with Overstock.com to launch its virtual insurance agency solution. Come see Insuritas at FinovateSpring next week.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Xero Announces 80% YOY Revenue Growth

Thumbnail image for xero.jpg

Fresh off news of its integration with Square, cloud accounting software specialist Xero announced the end of a fiscal year that saw the company grow its revenues by more than 80%.

A few other metrics just released by the company include:

  • NZ$70 million ($60 million USD) in operating revenues
  • NZ$93 million ($80 million USD) in annualized subscriptions
  • NZ$210 million ($180 million USD) in cash on hand to fund growth
  • 284,000 paying customers
  • 758 employees
Xero is the leading accounting software provider in New Zealand, and leads the online market in both Australia and the United Kingdom. In fact, Xero has seen the most significant year-over-year growth in the latter two regions, as well as North America. Metrics on Xero's paying customers by region are below:

  • Australia: 109,000
  • New Zealand: 102,000
  • United Kingdom: 47,000
  • North America: 18,0000
  • The rest of the world: 8,000
And here are numbers on Xero's year-over-year growth in subscription revenue:

  • North America: 154%
  • Australia: 120%
  • United Kingdom: 92%
  • The rest of the world: 86%
  • New Zealand: 48%
Xero demonstrated its technology as part of the show at FinovateSpring 2011. See the company in action here.

Finovate Alumni News -- March 31, 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.jpgThreatMetrix CTO Andreas Baumhof discusses the need for new authentication strategies for retailers.
  • NBC Chicago interviews Larry Baker, co-founder of Bolstr, on the basics of crowdfunding.
  • Trustly named to 2014 Red Herring Top 100 Europe award.
  • The Real Money Story reviews Jemstep.
  • Top Image Systems and Konica Minolta Spain partner to market eFLOW Invoice and Digital Mailroom business automation projects.
  • Upstart Business Journal looks at how developments from payment startup PayNearMe match up against big players.
  • A look at Xero's new integration with Square.
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, 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.jpgProfitStars' Gladiator ranks #36 in MSPmentor's top 501 managed service providers.
  • Kofax Mobile Capture platform wins "Elegant Implementation" category of Housing-Wire magazine's HW TECH 100.
  • Online TV host Doug Sleeter interviews Xero CEO, Rod Drury.
  • Jumio wins 2014 METAward in "established" category.
  • miiCard bringing its ID verification technology to eMerchantPay.
  • WTOP News asks: is the credit card with keypad from Dynamics is the "card of the future"?
  • MasterCard selects Anna Yip as head of Hong Kong and Macau.
  • Digital Insight to expand online banking portfolio to include shared access and small business payments. Come see Digital Insight demo at FinovateSpring next month.
  • Kraken, the digital currency exchange platform used by Fidor Bank, raises $5 million.
  • ZipZap pauses UK cash-to-bitcoin transfers through its platform.
  • Boku partners with sunhill technologies to enable direct global carrier billing for sunhill's services.
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.jpgLighter Capital provides $1 million in growth funding to 3 tech startups.
  • Check Point collaborates with VMware to provide network security for the private cloud.
  • Monitise now offers mobile alerting software as a standalone product.
  • Moven launches its mobile-first bank to public.
  • ClickZ features Actiance's compliance specialist, Joanna Belbey.
  • SafetyPay and GlobalShopex partner to provide a secure international shipping solution for U.S. ecommerce sites.
  • MacWorld Business lists Kashoo and Xero among their favorite online business accounting apps.
  • Wells Fargo reversal on P2P loan ban for staff is good news for companies like Lending Club and Prosper.
  • Kansas City Star features local biometric security startup, EyeVerify.
  • TradeHero launches Android version of their stock market simulation 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-- February 26, 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.jpgOn Budget wins 2014 Paybefore Award as "One to Watch."
  • United Bank Limited picks VoiceTrust for voice biometrics.
  • InComm partners with Asia-based Money Online to launch POS-activated gift card mall solutions in Southeast Asia.
  • Rezzcard to integrate with InComm's Cashtie to enable Rezzcard cardholders to pay their rent in cash at over 70,000 retail locations.
  • American Banker reports: Western Union to use NICE Customer Analytics. Come see its new tech at FinovateSpring.
  • Xero reaches 100,000 paying customers in Australia.
  • Check out an interview with BRIDGEi2i Director and Co-Founder, Ashish Sharma.
  • Live Gamer customers to get access to MasterCard's MasterPass digital payment service.
  • authenticID enhances ID proofing technology to help combat cloned credit card fraud.
  • Green Dot wins top honors in four categories at 2014 Paybefore awards.
  • Global Banking & Finance Review takes a look at Kalixa Group's American 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.

Finovate Alumni News-- February 18, 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.jpgScotiabank selects Fenergo's regulatory onboarding solution.
  • FIS announces partnership with Microsoft Cybercrime Center.
  • Azimo credits Indian expansion for surge in new cash pick-up points.
  • Betterment, Personal Capital, Wealthfront featured in Boston Globe column on personal wealth.
  • DeviceFidelity unveils RF technology behind its latest stand-alone, NFC microSD card.
  • Find Biometrics interviews Toby Rush, CEO of EyeVerify.
  • Vincent Turner, Planwise CEO, gives a closer look at the Planwise Solid Earth partnership.
  • Forbes examines how CAN Capital reinvents financing for SMBs.
  • City of Prosser launches on doxo to simplify bill pay and add mobile interaction.
  • BillGuard now offering free card monitoring for unlimited number of cards.
  • Taulia triples revenue growth in 2013.
  • BlinkMobile enters Europe, eyes U.S.
  • Xero adds a new chairman, director, and CEO of North America.
  • Matchi hires new CEO, David Milligan.
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.jpgLending Club named #5 on Forbes' Most Promising Companies List.
  • The Wall Street Journal mentions SecondMarket's private shares trading market.
  • Doxo receives 2013 Award for best Software and App from the Seattle Award Program.
  • VentureBeat lists Xero and Expensify as 2 of the best back-office software applications for small businesses.
  • Billhighway Prepaid MasterCard named winner in eighth annual Paybefore Awards.
  • Bank Systems & Technology features Allied Payment Network's Picture Pay mobile bill pay app.
  • FIS wins Frost & Sullivan Customer Value Enhancement award for FIS Mobile Wallet.
  • Credit Card Vault in the Cloud Spreedly Raises $500k.
  • Find Biometrics takes a brief look at 2013 and 2014 with EyeVerify's Director of Marketing, Denise Myers.
  • DeviceFidelity announces availability of its IsisReady NFC cases for iPhone.
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 9, 2014

  • Thumbnail image for Finovate-F-Logo.jpgGartner's Web Access Management Marketscope Report gives Ping Identity a positive rating.
  • Moven, LendUp, Kabbage, and Xero are featured in a Wall Street Journal article on alternative lenders and social media.
  • CAN Capital raises $33 million from Meritech Capital, Accel Partners.
  • PenFed is now offering Mortgage Harmony's One Click rate reset protection.
  • Lighter Capital closes 39th financing with Influence Technologies.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
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.jpgSwipely expands to new HQ building.
  • Wipro to buy mortgage consultancy firm Opus Capital Markets Consultants.
  • Apex Community FCU to offer Geezeo white label PFM.
  • Forbes highlights Cardlytics' growth and future of card-linked offers.
  • Xero adds 2 Australian banking partners: Greater Building Society and Investec.
  • TechCrunch reports: Blackhawk Network Picks Up Gift Card Startup, Retailo, To Bolster Its Reach In Europe.
  • C-SAM launches MasterPass-powered (MasterCard) digital wallet solution for FIs.
  • Jack Henry Banking wins outsourcing contract with Univest Corporation of Pennsylvania.
  • NCR to buy Digital Insight from Thoma Bravo for $1.65 billion.
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.jpgInComm partners with Utah Transit Authority to launch FAREPAY Card.
  • Xero CEO Rod Drury wins the New Zealand Ernst and Young Entrepreneur of the Year Award.
  • TechCrunch reports: E-Loan Specialist Wonga Buys BillPay, The PayPal Of Germany.
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.
  • ReadyForZero is expanding its online consumer offering to include the VantageScore 3.0 credit score.
  • Pando Daily looks at Tuition.io's current usage numbers and funding status.
  • Finextra reports: Head of Capital One Bank small business lending joins Lending Club.
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.

XeroLogo.jpgXero, a New Zealand-based company that creates cloud-based accounting software, has experienced a large growth spurt lately. Earlier this month, it officially launched in the U.S. and today it announced the largest installment of equity funding we've seen for a Finovate alum thus far.

The $150 million (NZ $180 million) in funding comes from a range of investors and existing shareholders. When combined with last year's $49 million from Peter Thiel and Matrix Partners, and other previous rounds, the company's total funding amounts to $230 million.

In the video below, CEO Rod Drury explains the funding and how it plans to use the cash.


Xero demoed at FinovateSpring 2011 where it debuted its Business Identification product.

  • Finovate-F-Logo.jpgValidSoft releases latest addition to the VALid suite of telecommunication based security products, Zero Latency Correlation.
  • Kabbage partners with Xero to provide SMBs capital based on their online accounting data.
  • Faces of Innovation features Wade Arnold, Banno CEO.
  • FIS Global signs agreement to market ARM Insight's Prepaid Management Platform.
  • MasterCard announces partnership with Parkeon to provide merchant offers, loyalty services via smart parking terminals.
  • PYMNTS.com interviews ZooZ VP for business development, Noam Inbar.
  • ISO & Agent talks about Moolah LLC's deployment of Leaf's LeafPresenter POS tablets.
  • SmartyPig announces CorePro, the next generation of its savings solution which helps companies integrate savings accounts into their existing solutions.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.
KabbageLogo.jpg

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

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

XeroLogo.jpg

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

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

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

Xero showcased its Business Identification method at FinovateSpring 2011.

Finovate Alumni News-- September 24, 2013

Finovate-F-Logo.jpg
  • Capital Access Network listed among Information Week's top U.S. technology innovators in 2013.
  • FIS announces analytics programs for customers.
  • Swipely now managing $1 bil in annual sales, 1 yr. after entering payments market & launched Swipely Partner Network.
  • Cachet Financial Solutions announces Select Mobile Lending, a new mobile app.
  • MasterCard and Entrepreneurial Finance Labs join forces to promote SMB growth in developing nations.
  • TechCrunch reports PayPal, Stripe, & Braintree partner with Facebook to autofill billing info in mobile commerce apps.
  • ERN partners with FICO to embed FICO's marketing solutions within its real-time Big Data analytics platform Looop.
  • Mountaineer Gas joins doxo to simplify bill delivery, payment, and record keeping for its 220,000 customers.
  • Digital Insight announces new CEO, John O'Malley.
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.
  • Finovate-F-Logo.jpgThe Austin business Journal ranks Q2ebanking #29 of Austin-based Largest Private Companies.
  • City National partners with cloud accounting platform Xero.
  • Forrester Research names Ping Identity a leader in Identity and Access Management Suites, Q3 2013 report.
  • Allre and miiCard partner for First Complete Platform to Sell a Home Purely Online.
  • Wipit-powered Boost Mobile Wallet to provide Quick Check Service.
  • WSJ column takes a look at online investment advisors like Wealthfront, Personal Capital, Jemstep, and FutureAdvisor that use algorithms. Meet FutureAdvisor at FinovateFall in New York.
  • Float Money partners with credit reporting agency eCredable to offer consumers interest-free loans. See Float Money at FinovateFall in New York next week.
  • Finovate alums Betterment and LearnVest highlighted in Wall Street Journal column on innovations in the online investment advisory business. Watch LearnVest demo their technology next week 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.
  • Finovate-F-Logo.jpgYseop selected as a finalist for the category of "Social, CRM and Loyalty" for the DMA Innovation Awards.
  • Finextra reports: Virtual Piggy integrates with social game giant Habbo Hotel.
  • TechCrunch reports: Braintree launches a new service called Marketplace, an API designed for mobile marketplace operators.
  • The Sleeter Group reviews Kashoo, Xero, and others.
  • The Guardian Money features social lending service Zopa.
  • Transaction processing driving revenue growth for Jack Henry & Associates.
  • Pymnts.com interviews Daniel DeMeo, CEO at Capital Access Network, on the rise of commercial lending.
  • Snarketing 2.0 highlights Credit Karma, FlexScore, and Moven in a column on why the financial services industry needs a "FinScore".
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.
  • Finovate-F-Logo.jpgSafetyPay pulls in $7 million from International Finance Corp.
  • Xero releases Personal for iPhone, a mobile app for Xero Personal subscribers.
  • B2C looks at Dwolla as a challenger to PayPal.
  • Ad Exchanger lists edo Interactive and Linkable Networks as two card-linked offer providers.
  • Read our latest CEO interview with Oren Levy of Zooz.
  • Mint, Expensify, Ready for Zero, SigFig, and Personal Capital populate US News & World Report's "10 Smartphone Apps to Boost Your Budget" 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.
  • 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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNewfination interviews Adhil Shetty, founder and CEO of BankBazaar.
  • Pymnts.com features TipRanks Financial Accountability Engine. Join TipRans in San Francisco for FinovateSpring.
  • Klarna co-founder Niklas Adalberth talks about hyper growth in Europe.
  • InvestmentNews columnist takes a look at Finect. See them demo at FinovateSpring in May.
  • Yodlee forms partnership with London fintech incubator Level39.
  • Virtual Piggy wins The National Parenting Center's 2013 Seal of Approval under the Websites category. See it demo live at FinovateSpring.
  • Signifyd receives the Merchant Risk Council's 2013 Emerging Technology Award in the startup company category. Come see it demo live at FinovateSpring.
  • Engadget reports: PayPal and Discover expand partnership, will reach 2 million stores by year-end.
  • PandoDaily looks at Xero's stealth period.
  • Billhighway partners with the Automation Alley Fund organization.
  • Braintree hires Google Wallet co-creator & former Square employee Rob von Behren as lead software engineer.
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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