Author: David Penn

TIBCO Introduces New CTO and COO

TIBCO Introduces New CTO and COO
By David Penn Posted on
Categories: TIBCO Software

Big moves at the top for TIBCO. The company’s CTO Matt Quinn will transition to a new role as TIBCO’s Chief Operating Officer as the firm taps Nelson Petracek as its new Chief Technology Officer. In a press release, the company contextualized the move as part of its effort to “ramp up” its TIBCO Connected Intelligence Cloud, which Quinn will oversee.

“Our customer-first mindset is one of the many reasons I’m proud to be part of the TIBCO team,” Quinn said. “When customers choose TIBCO, I want to ensure that they receive a high-performing service that propels the growth of their businesses. I am excited to continue expanding and innovating to meet every customer need.”

Quinn joined TIBCO as a developer in 1997, became CTO in 2010 and was appointed EVP in 2014, which gave him responsibility for product engineering and support. He was educated at RMIT University, earning a Bachelor degree in Computer Science and a Masters in Applied Technology, IT.

An 11-year TIBCO veteran, Petracek transitions to CTO after leading the Strategic Enablement Group, which pursued innovative technologies such as low-code applications, the blockchain, and natural language processing. Petracek came to TIBCO from Informatica Corporation’s Emerging Technologies business unit where he served as Senior Director. He has a degree in Computational Science from the University of Saskatchewan. TIBCO CEO Murray Rode praised Petracek for his “deep, technical knowledge and broad customer relationships.”

“I’m honored to be part of such a forward-thinking company,” Petracek said. “Working at the forefront of technology innovation and serving the dual needs of our corporate strategy and customer advocacy, I’m excited to help craft TIBCO’s technology strategy as we continue to build valuable tools for businesses.”

Ranked #1 in Dresner Advisory Services 2018 Location Intelligence Market Study and named a leader in Enterprise Data Virtualization by Forrester Research, TIBCO announced a partnership with Singapore Polytechnic in January to support local engineering SMEs. An active acquirer, TIBCO purchased Cisco’s data visualization business and acquired data science and social collaboration platform Alpine Data last fall. TIBCO itself was acquired by Vista Equity Partners in 2013, one year after the company made its Finovate debut at FinovateAsia 2013. At the conference, TIBCO demonstrated its Innovative Payment Solutions technology which enables merchants and banks to gain analytic insights from customer transactions without requiring the customer to provide any other significant, personal financial information.

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Fintech News from the Middle East and North Africa (MENA)

Fintech News from the Middle East and North Africa (MENA)
By David Penn Posted on
Categories: FinovateMiddleEast 2018

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As Finovate prepares for its first conference in the Middle East, here’s a round up of recent fintech news and need-to-knows from the MENA region. Learn more about how to join us in Dubai in February for FinovateMiddleEast.

  • Saudi Arabia’s central bank inks deal with Ripple to use distributed ledger technology to settle payments.
  • Dubai Multi Commodities Centre (DMCC) reports that gold trader Regal RA DMCC is the first company in MENA to gain a licence to trade cryptocurrencies.
  • Honeywell launches Middle East industrial cybersecurity center.

MENA Fintech Fact – International Data Corporation reports that  MENA spending on blockchain technology will grow to $80 million this year compared to $39 million in 2017. By 2021, regional blockchain spending is expected to reach $307 million.

  • Monami Tech introduces digital payment service, Lendme.
  • Forbes Middle East profiles MadfooatCom founder Nasser Saleh.
  • Monetary Authority of Singapore and Central Bank of Egypt forge fintech partnership.

Thought Leadership – Global Finance Magazine looks back on investment in MENA startups in 2017, including the $37 million raised by fintechs PayTabs, Emirati Souqalmal, and Wahed Invest.

  • ComputerWorld highlights OneGram in a review of government-sponsored blockchain cryptocurrencies.
  • UAE Securities and Commodities Authority partners with PwC to design regulatory framework for UAE capital markets-oriented regtech.
  • Entrepreneur Middle East features Egyptian fintech Moneyfellows.

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Mambu Teams Up with Softtek to Launch Banking Platform as a Service

Mambu Teams Up with Softtek to Launch Banking Platform as a Service
By David Penn Posted on
Categories: Mambu

Just one month after signing a deal with fellow Finovate alum Kreditech that will support the Germany-based lender’s entry to the Indian market, Mambu is back in the headlines with a partnership with Mexican systems integrator Softtek. Via the agreement, Softtek will launch a banking platform as a service (BPaaS) solution that will give the firm the ability to deliver a variety of SaaS and local apps and technologies from multiple vendors from a singular, cloud-based, API-enabled platform – powered by Mambu.

“New entrants are using digital technology to meet changing customer expectations as well as reach the large underbanked sector,” MD for Mambu Americas, Edgardo Torres-Caballero explained. “To succeed, competitors must emulate the operating models of these disruptors and develop the flexibility and speed to market necessary to meet market demands.”

“BPaaS is the optimal model to meet this objective,” Torres-Caballero said.

Noting that the collaboration will give clients “the best of both companies,” Softtek Mexico CEO Carlos Funes said, “Powered by the global leading SaaS banking engine Mambu, which provides advanced capabilities and the agility demanded by the financial sector, we have combined this with Softtek’s experience and knowledge of this industry in Mexico in order to provide a complete offering which will help accelerate the transition of our customers to the digital economy without disrupting their existing business.” The company’s VP of Financial Sector, Jose Luis Sanchez added that there were “more than 3,000” FIs in Mexico that could “potentially benefit” from this partnership.

“With a 100% digital platform that is flexible, scalable, and agile, it will enable these institutions to provide innovative cloud-first banking services and credit to its customers in the consumer and corporate market,” Sanchez said.

Mambu demonstrated its cloud-based banking engine at FinovateAsia 2013. The company ended 2017 announcing a partnership with Argentina-based fintech Wenance, which will use Mambu’s technology to fuel its expansion into Latin America. In October, ABM Amro’s New10 choose Mambu’s SaaS engine to power its line of SME lending products in the Netherlands, and in September, German challenger bank N26 reported that it too would deploy Mambu’s platform to support current accounts, overdraft, and loan products.

With more than $13 million in funding, Mambu includes Acton Capital Partners and CommerzVentures among its investors. Eugene Danilkis is co-founder and CEO.

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Q2 Announces New Partnership with Acorns

Q2 Announces New Partnership with Acorns
By David Penn Posted on
Categories: Q2ebanking

 

Cloud-based digital banking solutions provider Q2 Holdings has entered into a new collaboration with financial services platform, Acorns. Via the multiyear partnership, Acorns will take advantage of the Q2 Open portfolio, a suite of open-API financial services solutions originally unveiled by Q2 last year that give developers the ability to build customer-facing financial products and experiences.

Matt Flake, Q2 CEO, said it was important for both incumbent FIs and newer firms to get access to the right technology in order to build the financial solutions that clients demand. “We believe many fintech companies and traditional FIs share the goal of strengthening their communities, and we’re excited to provide them a common set of technology they can use to deliver on their respective missions,” Flake said.

Among the APIs available via Q2 Open are Q2 Debit, which enables the building of checking account functionality within apps, Q2 Save, which enables building savings account functionality into apps, Q2 Ledger, which adds ledgering functionality for FBO (“for the benefit of”) accounts; and Q2 Biller Direct, which brings bill presentment, aggregation, and billpay functionality to apps. Among the fintechs already using Q2 Open include fellow Finovate alum, Qapital, whose CEO George Friedman said the solution “enable(d) our team of creators, designers, and developers to rapidly deliver new features in our app – allowing us to build a product that our customers really love.”

Founded in 2004, Q2 demonstrated its Q2 CardSwap solution at FinovateFall 2017. CardSwap helps financial service providers earn interchange revenue by enabling account holders to use their bank card for digital subscription services such as Netflix, Amazon, and Uber. The technology can be integrated into existing front-end platforms or companies can leverage their internal engineering talent and the APIs within Q2 Banking’s Open API portfolio to build their own CardSwap front end.

Last year, Q2 was named to the Deloitte Technology Fast 500 for a second year in a row in 2017 and earned a finalist spot in the NAFCU Services 2017 Innovation Awards. Also in 2017, Q2 Holdings added financial services and technology veteran Christine Petersen as Chief Revenue Officer last year and unveiled its new targeting and messaging platform, Q2 Smart. Headquartered in Austin, Texas, Q2 trades on the New York Stock Exchange under the ticker “QTWO.” The company has a market capitalization of $1.8 billion.

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IdentityMind Global Raises $10 Million to Fuel Global Growth

IdentityMind Global Raises $10 Million to Fuel Global Growth
By David Penn Posted on
Categories: Funding, IdentityMind Global

In a Series C round led by Benhamou Global Ventures and Eastern Link Capital, IdentityMind Global has secured $10 million in new funding. The investment, which also featured the participation of Hanna Ventures, Overstock.com, and Zanadu Capital Partners, will help support the digital identity specialist’s expansion within international markets and to grow its new business unit designed to provide KYC and AML solutions for ICO and cryptocurrency markets.

“We feel privileged to be working with an elite group of high quality investors who have a proven track record of success,” IdentityMind Global CEO Garrett Gafke said. “The market demand for digital identity-based solutions in today’s global digital economy is booming. IdentityMind, the pioneer in digital identities, with hundreds of customers spanning six continents, is uniquely positioned to meet growing global market demand.”

An alum of Finovate’s developer conference series, FinDEVr, IdentityMind Global is looking specifically to markets in Asia, Latin America, and Europe for expansion. And with regards to the new market of ICOs and cryptocurrencies, the company’s announcement comes only one week after unveiling its new business unit dedicated to providing anti-fraud solutions for ICOs.

Overstock.com CEO and IdentityMind investor Patrick Byrne referenced the rise of ICOs and their needs in the funding announcement. “ICOs and cryptocurrencies are going mainstream and IdentityMind is one of the key players in helping ensure transparency, legitimacy, security and compliance which will only lead to faster and greater marketplace adoption.”

In addition to new opportunities in the emerging ICO and cryptocurrency space, IdentityMind Global has also taken advantage of new trends in regtech more broadly – including the EU’s GDPR – that will increase demand for its AML, KYC, transaction monitoring, sanctions screening, and fraud prevention services. The company cited statistics from Frost & Sullivan that indicated that the global RegTech market could reach $6.45 billion by 2020.

“The ongoing growth of synthetic or stolen identities requires digital identity-based solutions to prevent identity fraud and maintain the integrity of the global digital economy,” Managing Partner for Eastern Link Capital Yodong Hou said. “IdentityMind has been identified as a ‘go to’ partner for those companies needing to implement an effective defense to identity thieves, online fraudsters, and money launderers worldwide.”

IdentityMind Global participated in Finovate’s developers conference in London in 2017, presenting its Entity Link API that helps businesses meet KYC and AML-related risk and compliance requirements. Last month, the company announced a partnership with fellow Finovate alum Mitek, integrating the two fintechs’ digital ID verification capacities. With this investment, the company’s total capital stands at more than $20 million.

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Finovate Alumni News

By David Penn Posted on
Categories: CASHOFF, Coinbase, Finastra, IdentityMind Global, Mambu, NICE Systems, Onfido, Q2, Revolut, Ripple, Roostify

On Finovate.com

  • IdentityMind Global Raises $10 Million to Fuel Global Growth.
  • Coinbase Launches Crypto eCommerce Acceptance.
  • Roostify Lands $25 Million to Disrupt the Mortgage Industry.

Around the web

  • Revolut partners with payment issuer processor GPS ahead of APAC launch.
  • Ripple teams up with Saudi Arabian Monetary Authority (SAMA) to begin cross-border payments pilot program using xCurrent.
  • NICE Actimize brings financial crime, risk and compliance technology to global provider of core banking systems technology.
  • South Africa’s Absa Bank goes live with Finastra’s CLS platform, PAYplus.
  • CASHOFF wins finalist spot in PFM & Robo Advice category of Innovate Finance’s 2018 Pitch360 competition.
  • Microsoft features Onfido. Come see Onfido at FinovateEurope next month!
  • Softtek and Mambu launch banking platform as a 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.

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Bankjoy Brings New Online and Mobile Banking System to SafeAmerica Credit Union

Bankjoy Brings New Online and Mobile Banking System to SafeAmerica Credit Union
By David Penn Posted on
Categories: Bankjoy

SafeAmerica Credit Union’s investment in its partnership with Bankjoy has begun paying big dividends. The 35,000+ member credit union unveiled its online and mobile banking platform last week, successfully enrolling 25% of its active users within the first day of the launch.

Steven Page, VP of Marketing and Digital Banking for SafeAmerica CU said that customer engagement is a priority for the institution, and that Bankjoy’s platform and API integration capabilities would go a long way toward this goal. “(We are) always trying to find an easier way for our members to transact with us,” Page said. “Teaming up with Bankjoy has helped give SafeAmerica that flexibility to be nimble. With the new Bankjoy online banking and mobile app, we can continue to make improvements faster from the feedback we get from our members.”

Chartered in 1953 as a credit union for Safeway employees, SafeAmerica serves the Northern California counties of Alameda, Contra Costa, San Mateo, and Santa Clara, as well as a number of employer groups. It has $430 million in assets.

Bankjoy demonstrated its modern REST-based banking API for developers at FinovateFall 2016. The Mountain View, California-based fintech gives community banks and credit unions the ability to offer an omnichannel banking experience including mobile and online banking, as well as financial goal management. FIs can benefit from Bankjoy’s targeted advertising platform that enables banks and credit unions to send relevant marketing and other communications to their customers and members over all digital channels.

A graduate of the Y Combinator program, Bankjoy inked a deal with Michigan-area Coca-Cola Credit Union last spring. This added to the three credit unions that partnered with the company at the beginning of the year – Indiana’s CommunityWide FCU, Idaho’s Advantage Plus FCU, and Illinois’ One Detroit CU. The company was founded in 2015 by Michael Duncan (CEO).

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Clinc Tops $4.5 Million in Annual Revenue; Hires Helen Yu as Chief Growth Officer

Clinc Tops $4.5 Million in Annual Revenue; Hires Helen Yu as Chief Growth Officer
By David Penn Posted on
Categories: Clinc

Conversational AI platform for banks Clinc topped off a year of “explosive growth” in 2017 by generating more than $4.5 million in annual revenue. The strong revenue numbers come as the Ann Arbor, Michigan-based, Finovate Best of Show winner announces the hiring of technology executive Helen Yu (pictured) as its Chief Growth Officer.

Calling Yu’s talents “hard to find,” Clinc CEO Dr. Jason Mars praised the former Hyperion, Oracle, and Adobe executive’s “tremendous knowledge, extensive experience and track record of transforming organizations.” These, Mars said, would be “an impactful asset to our team as we execute our aggressive growth plans, expand into additional verticals and achieve our mission to revolutionize and redefine experiences through conversational AI.”

Yu comes to Clinc most recently from Marketo, where she served as group vice president. While at the marketing software firm, Yu led the enterprise business from 5% of Marketo’s ARR (annual recurring revenue) to 50% within three and half years before the company was acquired by Vista Equity Partners in an all-cash, $1.79 billion deal. An Athena pioneer, the founder and CEO of the Tigon Advisory Corporation, as well as an advisor for Jebbit and the C-Suite Accelerator program, Yu studied at Cornell University and has a MBA from Loyola University in Chicago.

“The combination of Clinc’s market momentum, technical capabilities and diversified leadership team made this an irresistable opportunity,” Yu said. “There’s a massive opportunity ahead of us and I’m elated to help take Clinc to the next level.” Yu underscored the uniqueness of Clinc’s offering and praised the fintech’s execution, as well. “No one has accelerated from product launch to achieving 15x growth within the same year,” she said.

Founded in 2015, Clinc demonstrated its technology at FinovateFall 2016, earning a Best of Show award for its AI-enabled intelligent financial assistant. In November, the company announced that its technology was live in six countries, including Turkey, where the nation’s largest private bank signed a deal to deploy Clinc’s platform. Also last fall, Clinc announced a partnership with Enacomm to bring its AI chatbot technology to smaller, community banks and credit unions. 2017 also featured a deal with USAA  and the closing of a $6 million Series A round led by Drive Capital that took the company’s total capital to $7.75 million. Dr. Mars participated in our Finovate webinar “How to Make it In the Fintech Industry: 3 Start-Up Success Stories” last year.

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FinovateMiddleEast Sneak Peek: Efigence

FinovateMiddleEast Sneak Peek: Efigence
By David Penn Posted on
Categories: Efigence, FinovateMiddleEast 2018, FinovateMiddleEast 2018 Sneak Peek

A look at the companies demoing live at FinovateMiddleEast on 26 and 27 of February in Dubai, U.A.E. Pick up your tickets today and save your spot.

Efigence, a company specializing in implementing innovative technologies and designing UX for banks, presents a new features from the EF14 Digital Banking Platform: EF14 Analytics.

Features

  • Real-time analysis both on public and secure sites
  • Conversion of insights into recommendations with sales automation
  • On-premise solution ensures that the bank remains the sole owner of data gathered

Why it’s great
Take control with EF14 Analytics, your one-stop tool to manage all customer data securely and effectively and transform it into real-time recommendations.

Presenters

Andrzej Szewczyk, Vice President and Managing Director 
Szewczyk combines technology knowledge with experience in business management, creating innovative solutions for banks and other financial market players. He has been in the internet industry since 1999.
LinkedIn

 

Marek Lesiak, President and CTO 
A fintech evangelist specializing in innovative product development, Lesiak has almost 20 years of experience in designing web solutions.
LinkedIn

 

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Vera Partners with Canon to Enable Data Security Across Devices and Services

Vera Partners with Canon to Enable Data Security Across Devices and Services
By David Penn Posted on
Categories: Vera

Courtesy of a partnership announced today, next generation data security specialist Vera will secure all information processed by Canon Solutions America’s fleet of multi-function devices, digital imaging tools, and services. Canon will access Vera’s data protection and rights management platform via its Enterprise Solutions business to enable secure data capture, detailed auditing, and data privacy.

“Canon’s products are at the center of how businesses around the world work, and we’re inspired by their philosophy of working together for the common good,” CEO and co-founder of Vera, Ajay Arora said. “By taking a data-centric approach to security, Canon Solutions America is laying the foundation for the most impenetrable walls of the Information Age.”

Left to right: Carlos Fernandes (CEO, Agile Cybersecurity Solutions), Peter Kowalczuk (President, Canon Solutions America), and Ajay Arora (CEO and co-founder, Vera) during the One Canon Event 2018.

Vera’s platform empowers its customers to encrypt, monitor, and manage how digital content is accessed regardless of how or where it is stored. Control over data is maintained whether the data is at rest, in use, or in transit, giving users a unique ability to protect critical information from data breaches and loss. Canon Solutions America will deploy Vera’s technology to secure content and file sharing for both local storage and cloud content; provide dynamic, multi-factor authentication for highly-classified or sensitive data; and ensure compliance with EU regulations with regard to GDPR via a “360-degree audit trail and chain of custody.”

“By partnering with Vera,” Canon Solutions America president Peter Kowalczuk said, “we can ensure security and confidentiality for any information captured by a Canon device, and help secure workflows across a complex organization. Vera’s seamless user experience and powerful platform will make it one of our hallmark solution offerings nationally, and worldwide,” he said.

Vera demonstrated its zero-touch, zero-friction data protection technology at FinovateSpring 2016. Founded in 2014 and headquartered in Palo Alto, California, Vera began the year with a set of new hires, bringing on board its first chief financial officer, Sam Wolff, and adding technical talent in the form of Wesley Yeremenko, who will serve as the company’s SVP for Engineering.

Last fall, the company launched its Vera for Mail solution, which provides enterprise-grade encryption for email as well as the ability to dynamically change access rights in real-time. Vera announced a new partnership with GE in September, protecting the company’s product designs, intellectual property, and proprietary data. Winner of the 2017 CyberSecurity Breakthrough Award, the company has raised $50 million in funding, and includes Hasso Plattner Ventures, Sutter Hill Ventures, and Battery Ventures among its investors.

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UAE Exchange Partners with Ripple

UAE Exchange Partners with Ripple
By David Penn Posted on
Categories: Ripple

Is there anyone who still doubts that governments and financial institutions in the Middle East are committed to taking advantage of distributed ledger technology? If so, the announcement today that the UAE Exchange has joined Ripple’s RippleNet network is a reminder that when it comes to the blockchain: MENA means business.

“Incorporating Ripple’s blockchain technology into our payments systems will bring customers and enhanced, new payments experience,” UAE Exchange Group CEO Promoth Manghat said. “The early adoption of this game-changing technology allows us to offer a competitive service, as it will have an impact on the speed and cost of cross-border transactions. We are proud to deliver the future of payments with Ripple.”

Ripplenet is an enterprise blockchain network that features more than 100 participating banks and FIs. Via the network, members are able to conduct real-time messaging, clearing, and settlement of financial transactions for their banking and payment clients. In joining the network, UAE Exchange becomes the largest payment solutions provider in the Middle East to use Ripple’s technology for real-time, worldwide, payment processing.

“We choose to focus on solving inefficiencies in key corridors where payment flows are significant and growing,” Global Head of Infrastructure Innovation for Ripple, Dilip Rao said. “Adding a market leader like UAE Exchange to RippleNet will bring instant, certain, low-cost payments to the millions of retail customers in the UAE who send money abroad.”

Ripple and its technology have been gaining momentum along with the broader growth in interest in the blockchain, cryptocurrencies, and distributed ledger technology. Earlier this month, the company announced that Banco Santander would leverage its technology to offer same day mobile international payments. In January, Ripple launched a trial project with MoneyGram in which the remittance services specialist will use XRP through Ripple’s xRapid service and explore integration with Ripple’s API for businesses, xVia.

Founded in 1980, UAE Exchange has nearly 800 branches in 31 countries – with nearly 150 branches across the seven Emirates and 17 branches in Dubai metro stations. Headquartered in Abu Dhabi, UAE has more than 9,000 employees and more than 15 million customers worldwide using its remittance services.

Making its Finovate debut as OpenCoin at FinovateSpring 2013, Ripple currently has more than 100 customers around the world. The company’s digital asset XRP, available on more than 50 exchanges globally, is used by banks and payment providers to better enter new markets and keep costs low. With offices in San Francisco, New York, London, Singapore, Sydney, Luxembourg, and Mumbai, Ripple has raised more than $90 million in funding, and counts Santander Innoventures, SBI Investment, IDG Capital Partners, and Core Innovation Capital among its investors.

Interested in fintech developments in the Middle East? FinovateMiddleEast comes to Dubai, UAE, February 26 and 27, for two days of keynotes, panel discussions, and live fintech demonstrations. 

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NetGuardians Inks Agreement with FirstOntario Credit Union

NetGuardians Inks Agreement with FirstOntario Credit Union
By David Penn Posted on
Categories: NetGuardians

NetGuardians announced today that FirstOntario Credit Union ($5 billion in assets) has deployed its anti-fraud technology, earning the Swiss fintech its first North American customer. NetGuardians’ solution was integrated into the credit union’s core banking platform – Temenos’ T24 – in just three months, and gives the province’s second largest credit union new tools when it comes to defending its members against cyberfraud.

“FirstOntario has joined a growing number of leading financial service providers around the world choosing NetGuardians’ anti-fraud solution.” Joel Winteregg, NetGuardians’ CEO said. “Our focus on prevention as well as detection means FirstOntario is giving its 115,000+ members the best possible protection.”

“We were impressed by their focus on financial crime mitigation and the well-developed library of relevant fraud controls,” VP for Information Technology at FirstOntario Michael Walsh said. “Together, they give FirstOntario enhanced protection against a wide spectrum of fraud schemes.” Walsh noted that the decision to deploy NetGuardians’ technology came after the CU’s IT and risk team highlighted global cyberfraud trends and recommended FirstOntario take action to improve its defense. In their statement, NetGuardians underscored the financial burden of cyberfraud, quoting a 2016 Cyber Crime Report from Cyber Security Ventures that anticipated cyberfraud costs of $6 trillion by 2021.

Headquartered in Yverdon-les-Bains, NetGuardians demonstrated its technology at FinovateAsia 2016. The company’s FraudGuardian solution uses Big Data, dynamic profiling, pattern-based intelligence, and predictive analytics to monitor and analyze both transaction level activity as well as real-time behaviors across all banking channels. FraudGuardian sends instant alerts when suspicious behavior is detected, giving FIs the ability to take risk mitigation measures as soon as possible.

NetGuardians ended 2017 by forging a new partnership with Masaref Business & Systems Consulting (Masaref-BSC) in a move that will spread the company’s fraud-fighting solutions to FIs in the Middle East. The company teamed up with Swisscom back in November to launch a fraud prevention service, and deployed its fraud fighting technology at Ghana’s Premium Bank last June.

Named to the Chartis RiskTech 100 for 2018 and honored with a spot in the European Fintech 100, NetGuardians has raised more than $14 million (CHF13.5 million) in funding, and includes Freemont Management, Swisscom Ventures, Polytech Ecosystem Ventures, and MoneyTime Ventures among its investors. The company was founded in 2007.

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