Quantopian Launches Live Trading from its Browser-Based Algoritmic Platform

Thumbnail image for QuantopianLogo.jpgThis post is part of our live coverage of FinovateSpring 2013.

Quantitative traders and investors! Start your algorithms! Quantopian Live Trading has landed.
“Quantopian Live Trading allows quants to trade on their algorithms directly from the Quantopian platform using only their browsers. Native to the cloud, Quantopian Live Trading combines historical data, algorithm simulation, external and live market data, brokerage integration, and algorithm development into a seamless, browser-only workflow.
Algorithms can go from historical backtesting to simulated real-time trading to live trading with the click of a button.”
Product Launched: May 2013
HQ Location: Boston, MA
Company Founded: June 2011
Metrics: $2.1 million in funding; 6 employees
Twitter: @quantopian
Presenting John Fawcett (CEO & Founder) and Jean Bredeche (CTO & Founder)

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TrustEgg Helps Parents (and Family and Friends) Save and Invest for Kids

Thumbnail image for TrustEggLogo.jpgThis post is part of our live coverage of FinovateSpring 2013.

Reminding us that preparing for a child’s future is a critical part of parenting, here’s TrustEgg with some ideas on planning for the financial side of that future:
“TrustEgg is the simple way to save for a child’s future. TrustEgg enables parents to create a Trust for their child in minutes for free. Parents can invite family and friends to make contributions. The Trust Fund is invested with Vanguard and earns a market rate of return until the child turns 18.”
Product Launched: February 14, 2013
HQ Location: San Diego, CA
Company Founded: January 1, 2011
Website: trustegg.com
Twittter: @trustegg
Presenting Jeffrey Brice (CEO) and John Zdanowski (CFO & COO)

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Leaf Unveils LeafPresenter to Broaden Small Business Payment Processing Options

Thumbnail image for LeafLogo.jpgThis post is part of our live coverage of FinovateSpring 2013.

Next to the stage is Leaf, presenting the second generation of its LeafPresenter tablet:
“Out-of-the-box, the LeafPresenter tablet lets small business owners create a virtual version of their store: catalogs, items, customers, employees, and inventory. The device can be set up in minutes and is designed to be handheld or stationary in its base, so merchants can immediately begin accepting payments, analyzing business performance, and engaging with their customers.
By supporting numerous payment technologies, the LeafPresenter gives merchants the power to work with the credit card processor, gift card provider, or next generation payment option of their choice, including PayPal, LevelUp, and various digital wallets.”
Product Launched: May 2013
HQ Location: Cambridge, MA
Company Founded: January 2011
Metrics: $4 million in funding raised; 20 employees; 100+ businesses using Leaf
Website: leaf.me
Twitter: @LeafYourLife
Presenting Aron Schwarzkopf (CEO)

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EyeVerify’s Eyeprints Provide Mobile Biometric Identity Verification

Thumbnail image for EyeVerifyLogo.jpgThis post is part of our live coverage of FinovateSpring 2013.

Starting off the show here in San Francisco is EyeVerify with a unique approach to eye-oriented identity authentication.
“EyeVerify has commercialized a software-only, biometric method for verifying the identity of mobile users called ‘Eyeprints’. The Eyeprint Verification System is based on the unique vein patterns in the whites of your eyes, and has fingerprint-level accuracy. Eyeprints require only the existing camera in a smartphone, so the system is not dependent on expensive fingerprint or iris scanning hardware.”
Product Launched: April 2013
HQ Location: Kansas City, Kansas
Company Founded: January 2012
Website: EyeVerify.com
Twitter: @EyeVerify
Presenting Toby Rush (CEO) and Chris Barnett (EVP Global Sales & Marketing)

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TransferWise Secures $6 Million in Series A Funding

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– May 13, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgHeckyl Technologies named fastest growing enterprise startup in Indian brokerage industry.
  • InvestorPlace interviews Flint Mobile CEO and co-founder, Greg Goldfarb.
  • EyeVerify raises $2.3 million in Series A round. See them demo at FinovateSpring in San Francisco this week.
  • Advanced Trading takes a look at Quantopian and the rise of the new quants. Meet them at FinovateSpring.
  • FIS to provide core banking, back-office processing support to UK-based Sainsbury’s 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.

If You’re Going to San Francisco … Join Us for FinovateSpring 2013

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Before every Finovate event, we try to provide a sense of the areas in which our presenting companies, large and small, are innovating.

Our Themes Word Cloud for FinovateSpring 2013 includes some familiar topics, as well as a number of new themes that have moved to the front of the pack this year.

FS2013 Word Cloud v7b.jpgIn addition to presenting some of the most interesting innovations in fintech, FinovateSpring is a great opportunity for industry professionals to meet, network, and get to know one another. 

The fact that titles like “Director”, “CEO,” and “SVP” (senior vice president) are so prominent in our Titles Word Cloud is a testament to the role Finovate plays in helping both fledgling startups and established innovators introduce their technologies to the public.

Version2TitleWordCloudV3.jpgFinovateSpring 2013 is the largest Finovate yet, besting last year’s record-setting event. Be sure to follow us here at Finovate.com and on Twitter (@Finovate) Tuesday and Wednesday for our all-day coverage, live from San Francisco. Also, download the latest edition of the FinovateSpring 2013 mobile app, available for free on iPhone, iPad, and Android devices.

Lastly, if you’d like to take a look at who’s presenting when, please visit our Demo Schedule page for more information.

See you in the City by the Bay.

AuthenticID Available to US Bankcard Services Members

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US Bankcard Services has announced that the identity authentication services of AuthenticID will be available to its merchants.

AuthenticID’s solution uses scanners with built-in barcode and magnetic stripe readers. With access to most international and North American government identity document issuers, the company’s software is able to compare a scanned ID to the ID in its document library.

The process is quick and works with driver’s licenses, green cards, and other types of government issued-identification.

US Bankcard Services was founded in 1996 by Chris Chang, who currently serves as president. The company is headquartered in City of Industry, California. Here are some additional metrics on US Bankcard Services:

  • Serves more than 10,000 merchant accounts
  • Has processed more than $11 billion
  • Offers a 95% approval rate within 24 hours
  • Has more than 100 employees

AuthenticID will be presenting its technology as part of FinovateSpring, May 14 and 15 in San Francisco. To learn more about the event, visit our FinovateSpring page here.

Finovate Alumni News– May 9, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgForbes.com takes a look at the competition between Square and Flint Mobile.
  • Compass Plus presents instant card issuance in debut appearance at CARTES America conference.
  • SAGE SA names Amir Suleman as Head of Sales for Middle East.
  • Striata receives PCI compliance for its Grade 1 infrastructure in the UK.
  • New Europe Online interviews eToro’s Head of Product Marketing, Alon Levitan, about how eToro is changing online trading.
  • Good.is features SaveUp’s Priya Haji.
  • PEHub interviews Drew Sievers, who led mFoundry to an acquisition by FIS.
  • Fraternity and Sorority Political Action Committee leverages Billhighway Give to Reach Fundraising Goals.
  • Perfectsen selected as a semi-finalist for the Innotribe Startup Challenge 2013.
  • OneID wins 2013 North America Frost & Sullivan Award for New Product Innovation. Come see their presentation at FinovateSpring next week.
  • Locaid earns extended relationship with LaaS company Timesheet Mobile. See Locaid demo at FinovateSpring in San Francisco.
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 8, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThe Wall Street Journal takes a look at “bitcoin startups” including OpenCoin. Come meet them at FinovateSpring in San Francisco.
  • Currensee announces launch of Trade Leaders managed fund.
  • US Bankcard Services now providing AuthenticID service to its merchants.  See AuthenticID demo at FinovateSpring next week.
  • Check Point introduces 600 Series security appliances for SMBs.
  • Forbes lists SoMoLend as 1 of 10 top crowdfunding sites for fundraising.
  • Investor Junkie reviews Jemstep. Come see what’s new at Jemstep at FinovateSpring next week.
  • MoneyDesktop honored with Bronze award in the Telly Awards, which recognize the finest video, film, & web commercials. See them demo at FinovateSpring.
  • Business Insider names BillGuard as 1 of the 20 hottest startups from Israel.
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.

Kashoo Tops 100,000 Users and 50,000 iPad App Downloads

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Cloud accounting company Kashoo has announced surpassing a pair of major milestones: more than 100,000 registered users and more than 50,000 iPad app downloads.

News of these milestones, especially with regard to the number of iPad app downloads, comes in the wake of the company’s upgrade to its iPad accounting app last month (read our coverage of that announcement here).

In statements accompanying the announcement, Kashoo CEO Jim Secord suggested that strong sales of the iPad itself should be viewed as a positive for their accounting app. The thinking? More people using iPads = more mobile small businesses using iPads = more mobile small businesses with iPads using Kashoo to handle their accounting needs. Apple sold more than 19 million iPads in the previous (second) quarter, according to this report.

Kashoo is funded by private investment from FBC. FBC is the largest, small business tax preparation and planning company in Canada  Kashoo is based in Vancouver, British Columbia, and demoed its technology in October 2010 as part of FinovateFall. Watch them in action here.

Pageonce Rebrands as Check

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The company formerly known as Pageonce has changed its name to Check. See for yourself at their new online home, check.me.

Why Check? According to COO Steve Schultz, the name change long had been a work in progress for the company, and includes at least three elements they believe will help consumers and potential partners better understand the brand and the business.

On its face “Check” reminds consumers that the service still represents an alternative to paper checks, arguably part of the original mission of Pageonce. Beyond this, the company appreciates how the name “Check” also reflects the idea of “checking off” tasks that have been accomplished, as well as the importance of keeping one’s finances simple and “in check.”

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The evolution of Pageonce to Check is a testament to the evolution of a company that began with an innovative data aggregation tool. Said Schultz in a phone conversation last week, “The company is very different now and has grown to be one of the few companies to provide a digital wallet that includes personal finance management, bill pay, and mobile.”

All of this is geared toward helping the company take better advantage of the $4 trillion bill payment market. “We will continue to focus on innovation in payments,” he added, noting that their peer-to-peer payment feature, PayAnyone, continues to grow since its launch three months ago. The company is especially pleased at the high collection rates (i.e., the rate at which people pick up the money sent to them). Said Schultz, “it is one thing to send people money. People have to actually go and get it.”

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“Fortunately, because our average ticket is $400-500, most people have enough incentive to collect the money.”

What else is coming from Check in 2013? Expedited bill pay is one of the features many customers have been longing for. Here, Schultz says that the feature is a “natural fit for us” and is something consumers can expect from Check later this year.

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Check is also working more directly with billers. Although formal announcements are still at least a month away, Check will be serving as the mobile payment channel for a number of billers in the near future.

“We found that some billers have no mobile channel, or have tried to build their own,” said Schultz. “Others have tried to develop a specific payment app.”

“What we found is that customers want a simple solution. This will allow bill payment without the traditional PFM linking. Give Check your account number and they’ll be able to do the rest.”

As Pageonce, the company demoed its technology as part of FinovateSpring 2010. See them in action here.