Author: David Penn

Affinity Solutions Raises More than $21 Million

By David Penn Posted on
Categories: Affinity Solutions

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With its latest round of funding, Affinity Solutions’ total financing tops $40 million.

This latest funding round was led by Massachusetts-based private equity firm, Chestnut Hill Ventures. The firm specializes in the commercial marketing and financial services industries, and provided more than $14 million in equity financing for Affinity Solutions a year ago.

Affinity Solutions says that the $21 million will go towards helping the company bring its marketing platform to market. Affinity Solutions currently has partnerships with more than 4,000 financial institutions, and more than 25,000 brick and mortar retail outlets.
This latest round of funding was a big jump up from the company’s most recent capital-raising effort: $6.75 million raised in February via a combined equity/convertible securities offering.
All told, Affinity Solutions’ fundraising over the past year:
  • $14.5 million in equity financing – June 2012
  • $6.75 million in equity/convertible financing – February 2013
  • $21+ million in funding – June 2013
Headquartered in New York, Affinity Solutions presented its technology at FinovateSpring in San Francisco in 2012. See the company in action here.

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Finovate Alumni News– June 10, 2013

By David Penn Posted on
Categories: EZBOB, FutureAdvisor, Google, Holvi, Intellaegis, Lending Club, MicroStrategy, Mortgagebot, OneID, Personal Capital, Realty Mogul, TradeKing, Wealthfront
  • FinovateLOGO.jpgThe Oakland Tribune’s Inside Bay Area profiles OneID founder and CTO Steve Kirsch.
  • EZBOB adds variable lengths, longer periods, lower interest, and loyalty discounts on its loans.
  • Realty Mogul co-founder and CEO Jilliene Helman talks crowdfunding and real estate investing.
  • MicroStrategy business intelligence solution, MicroStrategy Express named a finalist at 2013 American Business Awards.
  • Newfination interviews Jilliene Helman, co-founder and CEO of Realty Mogul.
  • SF Gate blog looks at Personal Capital, Wealthfront, and FutureAdvisor.
  • Newfination interviews Kristoffer Lawson, Holvi CEO, on replacing your bank with Holvi.
  • Mortgagebot launches MortgageMarvel site to help consumers shop for mortgages.
  • CNET interviews Lending Club CEO Renaud Laplanche on recent funding and future growth.
  • Bloomberg BusinessWeek takes a look at the business of Google Wallet.
  • Money Under 30 reviews TradeKing.
  • Intellaegis’s masterQueue technology helps catch wanted fugitive.
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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Kofax Launches Analytics for Capture Business Intelligence Solution

By David Penn Posted on
Categories: Kofax

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Kofax Analytics for Capture is designed to provide business intelligence analytics for users of its signature document processing solutions Kofax Capture and Kofax Transformation Modules.

The new technology provides dashboards that streamline operations, as well as data on system performance, accuracy, and productivity. The goal is to avoid reliance on IT professionals for activities such as report-building and modifying database queries.

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Analytics for Capture provides:
  • The ability to review and filter documents and batches to avoid or eliminate bottlenecks.
  • Functionality to examine productivity statistics at the batch, document, and page level over a variety of timeframes.
  • Options to research and compare accuracy metrics at field level to improve the quality of the capture process.
Kofax has more than 20,000 customers in industries ranging from banking to healthcare, and have more than 800 partners in more than 75 countries. The company demoed its capture technology as part of the FinovateSpring show last month, earning positive reviews from Filene Research, among others. Filene included Kofax in its column on “Promising Products from Finovate.”
See Kofax’s presentation here.

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Dynamics Launches “Everything Else is Just Plastic” TV Ad

By David Penn Posted on
Categories: Dynamics

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Double the value and 12 new rewards?

That’s the news out of Dynamics, which has made significant upgrades and enhancements to its ePlate intelligent payment card. 

The company has launched its first television ad, in partnership with Visa, touting the changes, which include a “no annual fee” version of the ePlate Visa card, and rewards ranging from private jet flights to race car driving lessons.
Dynamics launched ePlate in the UK during FinovateEurope 2013. ePlate cards include a programmable magnetic stripe that limits fraud by rewriting itself with each new transaction. Additionally, users can access the Dynamics system to program the card to respond to preferred offers, rewards, and other incentives.
The generousity of the rewards available to ePlate cardholders is meant to represent a sharp distinction with industry norms. Dynamics CEO and founder, Jeff Mullen, said in a release that while traditional cards often provided rewards of 1% of each purchase back, “the ePlate card (provides) new rewards as high as 50% or more.”

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Finovate Alumni News– June 6, 2013

By David Penn Posted on
Categories: Backbase, BankersLab, Braintree, CurrencyFair, Dashlane, Fuze Network, LendUp, Mitek, Narrative Science, Personal Capital, Stokr, TIO Networks, TSYS
  • FinovateLOGO.jpgCentral Intelligence Agency takes an actionable interest in Narrative Science.
  • IT operations management company Boundary touts its relationship with CurrencyFair.
  • Backbase CEO and co-founder Jouk Pleiter warns that bank customers are “no longer content to do the groundwork.”
  • Mercator Advisory Group analyst takes a look at TSYS’s proposed acquisition of NetSpend.
  • Mitek, LendUp, & Fuze Network dubbed runners up in 3rd Annual Core Innovators Mega Challenge.
  • TIO Networks announces strategic relationship with Aio Wireless.
  • Stockr wins Vator Splash LA startup competition, crowned most exciting company.
  • BankersLab launches Bank-it: Credit Edition.
  • Personal Capital to establish a Denver office and hire 100 financial advisers.
  • Business Insider interviews Braintree CEO, Bill Ready.

<div 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.