Author: Julie Muhn (@julieschicktanz)

BankersLab Closes on Undisclosed Amount in Angel Funding Round

BankersLab Closes on Undisclosed Amount in Angel Funding Round
By Julie Muhn (@julieschicktanz) Posted on
Categories: BankersLab, Funding

BankersLabHomepage

BankersLab, the company that refers to its training products as Flight Simulators for Bankers, announced today it closed a round of angel funding. The company has previously relied on its bootstrapped funds.

The amount of funding is undisclosed, but the San Francisco-based company hinted of its investor base, which includes financial and tech sector executives from the U.S., Germany and Singapore.

The San Francisco-based company plans to use the funding to accelerate development of PortfolioQuest, an SaaS-based simulation training product it will demo live at FinovateEurope 2016 in London.

BankersLab was founded in 2011. It has since offered training in acquisition, underwriting, collections, and account management to retail banking and fintech industry participants across 35 countries. The PortfolioQuest game, a spinoff of its original game series, enhances portfolio management skills by offering a single-player simulation game that allows participants to measure their performance against their colleagues and the fintech community at large.

BankersLab last demoed ScoringLab at FinovateAsia 2012.

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CAN Capital’s CAN Connect APIs Now Offer iPayment Merchants Access to Funds

CAN Capital’s CAN Connect APIs Now Offer iPayment Merchants Access to Funds
By Julie Muhn (@julieschicktanz) Posted on
Categories: CAN Capital

CANCAPhomepage

On the heels of OnDeck’s announcement last week that it is partnering with JPMorgan Chase to offer small-business loans, CAN Capital announced today its partnership with iPayment, provider of payment solutions and processing services. As part of the partnership, CAN Capital will offer iPayment’s 150,000 merchant customers access to working capital.

Without ever leaving the iPayment platform, merchants can apply for $2,500 to $150,000 in funds to grow their business.

The integration is made possible through CAN Capital’s CAN Connect platform, a suite of APIs that leverages iPayment’s existing merchant data to simplify the application process and prequalify them for financing.

Since launching in 1998, CAN Capital has furnished small businesses with $5.5 billion in working capital. The company last demoed at FinovateFall 2013 where it debuted Mobile Funder, a tool for sales reps to remotely prequalify businesses and submit applications for a variety of finance products.

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SocietyOne Offering Car Loans to Uber Drivers in Australia

SocietyOne Offering Car Loans to Uber Drivers in Australia
By Julie Muhn (@julieschicktanz) Posted on
Categories: SocietyOne

SocietyOneHomepage3

 

Australia-based P2P lending platform SocietyOne today announced it is partnering with Uber to offer its drivers car loans. This comes at a time of high growth for Uber Australia which has seen its UberX platform grow from 0 to 20,000 drivers in the past 18 months.

Uber, which operates in nine cities across Australia and New Zealand, requires drivers to have a car no older than 10 years. However, some drivers have difficulty obtaining a traditional loan because ride-sharing jobs may be perceived as unstable.

SocietyOne charges drivers an upfront fee of $250 to take out a car loan, which ranges from $5,000 to $35,000 at an interest rate of 6.5% to 12.6% which is competitive with rates from traditional banks.

Launched in 2011, the company now employs 75 in Australia and New Zealand and has extended $60 million in personal loans this year. It is experiencing 10% growth in loan originations month-over-month.

SocietyOne debuted its ClearMatch technology at FinovateAsia 2012 in Singapore.

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Prosper’s BillGuard Unlocks Premium Features for All Users

Prosper’s BillGuard Unlocks Premium Features for All Users
By Julie Muhn (@julieschicktanz) Posted on
Categories: BillGuard, Prosper

BillGuardHomepage

Fresh on the heels of being acquired by Prosper in October, the expense-management and fraud-tracking application BillGuard made some of its most popular premium features available for free, including:

  • Unlimited card monitoring (previously limited to one credit or debit card)
  • Free tracking of TransUnion credit scores

Prior to today’s announcement, BillGuard offered three versions: freemium, BillGuard Pro, and BillGuard Ultimate. The company is paring down to two services by retiring its Pro service. All Pro users will be upgraded to Ultimate at no additional cost.

In today’s announcement, Prosper also hinted at its future plans for BillGuard:

In the months ahead, we will be releasing our initial BillGuard-Prosper product integrations which will take BillGuard to a whole new level of financial control and well-being. We can’t wait to share it with you.

San Francisco-based BillGuard, which launched in 2011, has helped its 1.4 million users flag more than $70 million in unauthorized charges.

BillGuard last presented at FinovateSpring 2012 where it debuted BillGuard FI. Prosper presented at FinovateSpring 2009 as well as the inaugural Finovate in 2007.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Arxan Technologies, Bento for Business, BillGuard, DocuSign, Equifax, eWise, Expensify, EyeVerify, InComm, Insuritas, Jack Henry, Ledger, ProfitStars, Prosper, Spotcap, Tradier, TransferTo, Zopa

On Finovate.com

  • “Prosper’s BillGuard Unlocks Premium Features for All Users.
  • “Zopa Partners with Equifax, Boosting its Risk-profiling Capabilities”

Around the web

  • Ledger launches developer edition of hardware wallet.
  • Jack Henry’s ProfitStars now has 20+ institutions that have implemented Gladiator Hosted Network Solutions.
  • RTN FCU to power its insurance agency with Insuritas.
  • InComm plans Atlanta expansion, will add 200 employees.
  • TransferTo joins with Continental Money to bring remittance services to Kenya.
  • Bankless Times features Bento for Business and its solution for helping small businesses control employee spending.
  • Marx Noctor of Arxan explains the importance of protecting apps “down to the source code” in CBR Online.
  • Business2Community features Expensify and DocuSign in its list of nine apps to help you run your business on the go. See DocuSign at FinovateEurope 2016 in London.
  • Adelaide Now profiles small-business lender Spotcap. Join Spotcap in London for FinovateEurope 2016.
  • Mobile ID World looks at the reception to EyeVerify’s mobile app.
  • Tradier reaches milestone: 100 financial services firms are now directly integrated with Tradier’s brokerage platform.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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Lighter Capital Closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups

Lighter Capital Closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Lighter Capital

Lightercaphomepage

Lighter Capital made a two-fold funding announcement last week. First, the Seattle-based company closed $9 million in Series B funding. Investors include:

  • Voyager Capital
  • Summit Capital
  • Individual investors, including Lighter Capital’s Chairman, Jeff Seely

Lighter Capital plans to use the funds to advance its platform and double its 23-person team. Today’s $9 million installment, combined with the company’s $6 million Series A round, brings its total funding to $15 million.

In addition to this, Lighter Capital raised $100 million to furnish 500 tech startups with capital. The funds, which come from Community Investment Management, will help Lighter Capital increase its investment cap from $1 million to $2 million.

Lighter Capital was founded in 2010. This year, it has increased investment funding to an average of six businesses per month. In total, the company has provided funds to 75 small businesses, including Finovate alum, Cloud Lending.

BJ Lackland is CEO of Lighter Capital, which debuted its Revenue Loan at FinovateSpring 2011 and last demoed at FinovateFall 2013.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Arroweye Solutions, BehavioSec, Bento for Business, BioCatch, Comarch, Dealstruck, Dwolla, FIS, Kantox, Klarna, Lendio, Lighter Capital, Markit, Open Bank Project, TESOBE, Zopa

On Finovate.com

  • “Lighter Capital closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups”
  • “Dwolla Helps Seamless Deploy its Mobile Wallet in the United States”

Around the web

  • PYMNTS records 2015 payment-trend insights from multiple Finovate and FinDEVr alums.
  • Arroweye featured in Credit Union Journal.
  • Kantox brings free and automatic SWIFT messages to its clients.
  • Dealstruck and Lendio release eBook.
  • The Growing Business Awards names Zopa the Growing Business of the Year in the small business category.
  • American Banker highlights how Tesobe’s Open Bank Project is working toward an API-based banking model.
  • Markit and CLS unveil new streamlined process for cross-currency-swaps settlement.
  • Let’s Talk Payments looks at Klarna and its unconventional approach to authentication.
  • FIS closes SunGard acquisition.
  • BioCatch adds Gadi Maier and Howard Edelstein to its board of directors.
  • Comarch implements Field Service Management solution for receivables management specialist, the KRUK Group.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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Nous Closes In On £350,000 Fundraising Goal [Update: Nous Exceeds Original Goal, Raises $750,000]

Nous Closes In On £350,000 Fundraising Goal [Update: Nous Exceeds Original Goal, Raises $750,000]
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Nous.net

NousScreenshot

[Update] Nous has closed the round, exceeding expectations by raising $750,000 from angels and crowdfunding. This is $223,000 more than its original goal of $527,000.

Nous, a startup that builds products for global financial market enthusiasts, announced last week it has raised 88% of its £350,000 ($527,000) goal in its second external round of funding. The London-based company is currently raising funds on SyndicateRoom, a professional angel-crowdfunding site.

The campaign has two weeks remaining. Nous anticipates it will achieve and possibly exceed its goal amount to reach its overfunding limit.

Nous plans to use the funds to launch an ultra-low-risk trading app to serve a demographic overlooked by current financial products.

The founders of Nous bootstrapped the company with $500,000, and raised $605,000 in funding last year.

At FinovateEurope 2014, Nous launched SparkProfit, a financial data service and gamified market-prediction platform that combines human predictions and quantitative finance to better anticipate future market outcomes.

NousPresenting

From left: CEO Justin Short, founder, and Mick Horgan, co-founder, presented the Nous product for global financial markets at FinovateFall 2014.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Azimo, Bleu, CenturyLink, edo Interactive, EverSafe, FIS, Fiserv, Geezeo, Google, Kashoo, On Deck Capital, PaySimple, Personal Capital, Ping Identity, Prosper, RAGE, Stockpile, Stocktwits, TransferTo, Xero

On Finovate.com

  • “StockTwits Offers Brokerage Functionality Powered by Robinhood”
  • “Finovate Debuts: bleu Unveils its Beacon-powered, Point-of-Sale Solution”

Around the web

  • TechCrunch names Stockpile gift card on list of Awesome Gifts For Your Favorite 20-Something.
  • Prosper recognized as 24th fastest-growing company on Deloitte’s Fast 500. San Francisco Business Times places Prosper as number 3 of the Fastest Growing Companies of 2015.
  • Kashoo launches period-locking feature to lock data within prescribed timeframes.
  • Built in Colorado names Google, OnDeck, Ping Identity, Personal Capital, Xero, and PaySimple on list of top 100 tech companies in Colorado.
  • TickSmith’s TickVault platform earns the fast-growing firm an Innovators Award from FIA.
  • CenturyLink and Cogent enter into interconnection agreement.
  • RAGE Frameworks partners with Genpact, leveraging AI to automate financial processes.
  • Los Alamos National Bank chooses FIS as its new core banking provider.
  • National Bonds to deploy AML Risk Manager from Fiserv.
  • Geezeo launches its Life Infused Financial Experiences custom apps.
  • Let’s Talk Payments looks at edo Interactive and its partnership with Visa Europe.
  • Azimo extends its money-transfer service to Nigeria.
  • Fidelity Clearing and Custody teams up with EverSafe to help prevent elder financial abuse.
  • TransferTo joins forces with Continental Money to bring remittance services to Africa.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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StockTwits Offers Brokerage Functionality Powered by Robinhood

StockTwits Offers Brokerage Functionality Powered by Robinhood
By Julie Muhn (@julieschicktanz) Posted on
Categories: Stocktwits

StocktwitsHomepage

StockTwits, a social network for investors and traders, last week announced it has partnered with stock-trading app Robinhood to incorporate brokerage functionality into its iOS app.

The partnership allows users to connect their two accounts, giving Robinhood users access to StockTwits’ stock-tracking tools, and offering Robinhood’s free brokerage service to StockTwits’ users. Highlights of the integration include:

  • See stocks on their StockTwits’ watchlist that they own in their Robinhood account

RobinhoodStockTwits2

  • Swipe to trade for free with Robinhood without leaving the StockTwits’ watchlist and trending list

StocktwitsRobinhood3

  • Share Robinhood trades within StockTwits’ community

StockTwitsRobinhood4

While the new trading functionality is not currently available on Android, StockTwits’ CEO Howard Lindzon notes that a solution is in progress and will be available soon.

StockTwits’ Lindzon presented at FinDEVr San Francisco 2014:

http://finovate.wistia.com/medias/mxy40adk50?embedType=api&videoFoam=true&videoWidth=800

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Finovate Debuts: RedCloud Technology Helps Financial Institutions Build Regulatory Compliant Products

Finovate Debuts: RedCloud Technology Helps Financial Institutions Build Regulatory Compliant Products
By Julie Muhn (@julieschicktanz) Posted on
Categories: Finovate Debuts, RedCloud

RedCloudHomepage

The RedCloud 1 Platform by RedCloud Technologies is a transaction engine and processing platform. By leveraging RedCloud 1, financial service providers can offer regulated digital financial services such as domestic payments, remittances, mobile wallets, lending, savings, and insurance.

The RedCloud 1 solution, which can be co-branded or white-labeled, can act as an end-to-end transaction platform or simply form a new front-end interface to existing backend processes. It is designed to help effectively deal with regulatory constraints.

Front-facing platform

The RedCloud 1 platform offers a simple, omnichannel user experience. For example, when using its remittance capabilities to send money internationally, consumers log in with a unique identifier (for example, email address, phone number, or Twitter account), then enter the amount and their PIN. RedCloud processes all transaction types, including cross-border payments and remittances, in real time with no settlement delay.

DynamicEndUserUI

 

Behind the scenes

The RedCloud administration view offers multiple tools, such as a transaction-search capability and a CRM module, that enable service providers to manage the platform.

Dashboard

The analytics suite offers a real-time bank reconciliation view that shows both sides of all transactions. Preconfigured insights are not only useful to service providers, but also to agents and merchant clients, who can use transaction data to drive business strategy.

PreconfigAnalyticsDashboard

The company’s configuration tool has a drag-and-drop WYSIWYG interface which enables non-technical employees to bring new products to market with no need for IT involvement.

selfserviceconfigtool

What’s next

RedCloud is contracting with several organizations across Africa and Asia.

RedCloud founder, Justin Floyd and product manager, Matthew Smith, demoed RedCloud 1 at FinovateFall 2015:

http://finovate.wistia.com/medias/ec4vzxoet0?embedType=api&videoFoam=true&videoWidth=800

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Akimbo Financial, Dealstruck, Deluxe, eToro, FinanceIt, Geezeo, Prudena, RAGE, Strands, Temenos, Venmo

On Finovate.com

  • “Finovate debuts: RedCloud Technology Helps Financial Institutions Build Regulatory Compliant Products”
  • “PRUDENA Launches Online Marketplace for Stock Market Research”

Around the web

  • PYMNTS looks at Akimbo’s next venture, Akimbo Now.
  • Dealstruck crosses the $100m mark.
  • Deluxe Corporation celebrates its 100th birthday by ringing the opening bell at the New York Stock Exchange.
  • PYMNTS interviews Michael Garrity, co-founder and CEO of Financeit.
  • Inside Big Data interviews Dr. Venkat Krinivasan, CEO of RAGE Frameworks.
  • The Financial Brand’s Ron Shevlin takes a look at the future of Venmo.
  • InvestinGoal provides a free eToro base course to help introduce new investors to social trading.
  • Strands brings its PFM solution to Temenos Connect and Mobile Internet Banking.
  • Geezeo builds custom financial event app: Life by Geezeo.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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