On Finovate.com

• Volkswagen Finance Arm Invests in AutoGravity

• CASHOFF Earns Spot in Inaugural Innotribe Startup Challenge Russia

Around the web

• Xero launches new e-invoicing solution for SMEs, Xero Connect.

• Boku extends direct carrier billing relationship with Microsoft.

• American Banker looks at Klarna and the rise of “high-tech, low-effort” online lending.

• Xero rolls out automated Stripe reconciliation to match transactions to the Stripe statement line.

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.