Julie Muhn (@julieschicktanz), Author at Finovate

Alumni News– July 14, 2014

By Julie Muhn (@julieschicktanz) Posted on July 14, 2014
Categories: ACI Worldwide, BehavioSec, Klarna, Loop, MasterCard, Nutmeg

FinDEVr is Building Momentum – Will you be a part of it?

Webster Bank to deploy online banking platform from ACI Worldwide.

MasterCard’s e-commerce enabler MasterPass launches in Poland.

Nerdwallet takes a close look at LoopPay.

CNBC interviews Nutmeg CEO Nick Hungerford.

Wall Street Journal features Klarna and its plans for expansion.

WSJ features BehavioSec. Get a closer look at BehavioSec at the very first FinDEVr.

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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Personal Capital’s Financial Management App Now Available on Android Wear

By Julie Muhn (@julieschicktanz) Posted on July 11, 2014
Categories: Personal Capital

Thanks to Personal Capital, when it comes to finance and investing, you can take it with you.

Personal Capital announced yesterday that its finance management app is now available on Android’s smart watch, Android Wear.

Personal Capital Chief Product Officer Jim Del Favero called wearable devices “the next evolution of mobile.” When users have Personal Capital on their Android Wear device, they can access a full suite of PFM functionality with them wherever they go.

The free app is available for download in the Google Play Store. Features include:

YouIndex: end of the day notification feature that compares your portfolio (your “YouIndex”) to the S&P 500 and other stock market indices
Advice and Alerts: personalized notifications for goal-tracking
Actionable Information: an omni-channel experience that allows users to access the app on more than one device

Part of a growing ecosystem of alternative investment management services, Personal Capital differs from so-called “robo-advisors” by not just relying on algorithms to make investment decisions. Technology plays a role, of course. Personal Capital CEO Bill Harris said in a June interview with CNBC that automated tools helped “discipline” the investment process, and refers to his company as “technology-assisted.” But in combining technology with what he calls “sophisticated and customized management” Personal Capital brings a wealth management model that has worked for high net worth individuals to a broader, “mass affluent” market.

Personal Capital is headquartered in Redwood City, California, and was founded in 2009. The company last demoed at the FinovateSpring conference in San Jose earlier this year. See a video of the company on stage here.

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Alumni News– July 11, 2014

By Julie Muhn (@julieschicktanz) Posted on July 11, 2014
Categories: ayondo, Monitise Americas, SecureKey, Taulia

Taulia launches Early Payment Quick Start Initiative to facilitate early payment financing for small businesses.

SecureKey teams up with Oberthur Technologies to offer new, device-based online authentication solutions.

Guest column by Monitise in Forbes says Turkey is fertile ground for technology innovation.

Germany-based ayondo opens office in Singapore.

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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Cachet Financial Solutions Prices IPO, Seeks to Raise More than $7 Million

By Julie Muhn (@julieschicktanz) Posted on July 10, 2014
Categories: Cachet Financial Solutions

Guess who quietly just went public?

Cachet Financial Solutions announced the pricing of its initial public offering this week. The remote deposit capture (RDC) and mobile wallet solution provider will trade on the OTCBB under the ticker, ~~CHTF~~ CAFN (see update below). Four and a half million shares priced initially at $1.50 have been made available to the public.

Update: Cachet Financial Solutions changes their ticker symbol to CAFN.

Late in trading on Thursday, shares were up more than 1%.

The goal of the offering is to raise as much as $7.7 million (if an over-allotment option is fully exercised; closer to $6.7 million). Northland Capital Markets is the book-running manager for the IPO, with The Benchmark Company and MLV & Co. serving as co-managers.

Cachet’s SEC filings provide some insights into the company’s finances – at least as of this spring. Cachet Financial Solutions’ revenues of more than $476,000 for the three months ending March 31, 2014 were up more than 145% from the same period a year ago. A comparison of Cachet’s net losses between the two periods reflects similar improvement, with the company trimming its losses by more than 53%. As of March 31, Cachet had more than $91,000 in cash and cash equivalents.

Known for its RDC and mobile money management solutions, Cachet Financial Solutions is a cloud-based, software-as-a-service innovator. With recent deployments at Navy Federal Credit Union, FirstView LLC, and The Bancorp Bank in just the past month, Cachet Financial is taking advantage of the growing interest among banks and FIs to provide better experiences for their customs via technology.

Founded in 2010 and headquartered in Minneapolis, Minnesota, Cachet Financial Solutions demoed its technology at FinovateFall 2012 in New York. See a video of the company on stage here.

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Alumni News– July 10, 2014

By Julie Muhn (@julieschicktanz) Posted on July 10, 2014
Categories: Betterment, Braintree, Cachet Financial Solutions, DoubleBeam, Doxo, Finect, Fiserv, Holvi, Loop, Oink, Personal Capital, Ripple, Segmint, Wealthfront

Optimal Payments announces partnership with Oink.

Braintree releases v.zero SDK, featuring support for Pay with PayPal.

Bank Innovation highlights leaders at Ripple, LoopPay, Finect, and Fiserv in its list of 30 key innovators in fintech.

Segmint named a Preferred Vendor of MAGNET Global Network.

Holvi preps to launch into Irish marketplace.

doxo named one of Washington State’s 100 Best Companies to Work For 2014 by Seattle Business magazine.

Think Advisor features the different approaches of 3 robo-advisors: Betterment, Personal Capital, and Wealthfront.

Cachet Financial Solutions prices Initial Public Offering.

DoubleBeam’s GoPago POS system is enabling Slyde, a mobile commerce beacon-enabled shopping app.

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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Alumni News– July 8, 2014

By Julie Muhn (@julieschicktanz) Posted on July 8, 2014
Categories: ACI Worldwide, Insuritas, Lending Club, P2BInvestor, Prestadero, ReadyForZero, StrategyCorps, Top Image Systems

Top Image Systems signs agreement to acquire cloud-based banking solutions provider, EGistics.

Prestadero raises more than $670K in series B funding round.

ACI Worldwide to bring electronic billpay to Southern Auto Finance Company (SAFCo).

P2Binvestor crowdlends $2 million line of credit to fellow Finovate alum.

Mike Branton of StrategyCorps discusses the “three big threes of checking” in CB Insight.

Lending Club facilitates $1 billion of loans in Q2 2014, which brings it to a total of $5 billion since its inception.

ReadyForZero announces two new resource centers: Get Out of Debt and Auto Loan Resources.

First American Credit Union hires Insuritas to launch insurance agency to build non-cyclical fee income.

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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Prestadero Raises More than $670K in Series B Funding Round

By Julie Muhn (@julieschicktanz) Posted on July 7, 2014
Categories: Prestadero

A week after we published our quarterly alumni funding roundup for Q2 2014, it looks like Q3 is already off to a nice start on the funding front.

At the beginning of the month we shared news of Moven’s $8 million funding. And the strides Yodlee is making toward an IPO sooner than later made headlines soon after.

And now today we can add Prestadero to the list of Finovate alums that find themselves in a money-raising mood. The peer-to-peer lender finished its second round of funding by raising $677,000 (8.8 million Mexican pesos).

The investment more than doubles the company’s previous total of $400,000 – raised almost a year ago to the week – taking Prestadero’s total capital to more than $1.7 million (more than 13.8 million Mexican pesos).

Specific investors in this round were not disclosed, but the company referred to the contributors in a statement as “international leaders in the financial services sector in Mexico and abroad.”

Prestadero will use the additional capital to add new functionality to its platform, and to accelerate growth.

Stats:

Founded in 2011
Headquartered in Mexico City, Mexico
Provides unsecured personal loans ranging from 10,000 to 250,000 Mexican pesos
Offers approved borrowers rates ranging from 8.9% to 28.9% annually
Offered lenders net annualized returns of 15%

Gerardo Obregón is CEO.

Prestadero demoed its technology at FinovateSpring 2013 in San Francisco. See a video of the company on stage here.

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Alumni News– July 7, 2014

By Julie Muhn (@julieschicktanz) Posted on July 7, 2014
Categories: Bill.com, Billhighway, Expensify, Loop, Narrative Science, Open Bank Project, Tradeshift, ZenPayroll, Zighra

American Banker features Tradeshift in a column on startups innovating in the small business bill pay space.

Credit Union Broadcast interviews Greg Ewald, VP of Marketing for Loop.

Zighra partners with Toyuma to launch a Kickstarter project to launch PassZweipe, a password manager app.

Billhighway to provide automated donation processing for The Michigan Humane Society.

Open Bank Project organizing Hack/Make The Bank hackathon in Berlin. Check out more builder tools at FinDEVr this Fall.

Bill.com, ZenPayroll, and Expensify earn spots Sqrl blog’s list of 39 apps you didn’t know could grow your business.

Narrative Science’s Kris Hammond is featured in Business Insider’s Technology section.

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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Alumni News– July 3, 2014

By Julie Muhn (@julieschicktanz) Posted on July 3, 2014
Categories: Braintree, CurrencyTransfer, eToro, MicroStrategy, Misys, TIBCO Software, Tradeshift, Wealthfront, WePay

Misys launches new, modular core banking solution, FusionBanking Essence.

MicroStrategy, TIBCO listed among 16 most significant business intelligence software vendors in new Forrester report.

The New York Times Business Day interviews Adam Nash, CEO of Weathfront.

Wired Money startup pitch competition features Finvoate alums CurrencyTransfer and eToro.

Facebook chooses Braintree as sole payments provider for its FbStart program.

Wepay launches new website.

Tradeshift makes CPO Rising’s 2014 Hot Tech Prospect list.

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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Emida Launches New Smartphone Android POS App

By Julie Muhn (@julieschicktanz) Posted on July 2, 2014
Categories: Emida

Just in time for the second half of 2014, Emida’s Android POS app is ready for launch.

Traci Jones, VP of Global Product Development said, “We know through our 20 years of experience that we excel in prepaid technology simply because we understand the needs of our partners, worldwide.”

The new Android app is optimized for both Android smartphones and tablets, and provides much of the same functionality as Emida’s POS terminals. The app is available to all of Emida’s U.S. partners.

Emida maintains an international network that allows carriers, service providers, merchants, retailers and others to offer prepaid products to their customers via standard POS terminals. These prepaid products and services range from wireless and long distance, to bill pay and lottery, to stored value card and international top-up.

Take a look at a handful of Emida metrics:

Headquartered in Foothill Ranch, California
Operates in 37 countries worldwide
Supports network with more than 54,000 retail points
Network annual dollar payment volume of more than $1.5 billion
Network processes more than 240 million annual payment transactions

David Kirtman is CEO.

Emida demoed its technology as part of the FinovateFall 2012 conference in New York. See the company in action here.

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Seeking to Raise $75 Million, Yodlee Files for its Initial Public Offering

By Julie Muhn (@julieschicktanz) Posted on July 2, 2014
Categories: Yodlee

Earlier this year, we were thrilled to announce the first company to go public as a Finovate alum, Q2.

This week we learn that another alum, Yodlee, is taking the IPO plunge, as well.

With a goal of raising $75 million, Yodlee has filed its S-1 with the Securities and Exchange Commission, indicating its intention to become a public entity.

According to The Silicon Valley Business Journal, Yodlee plans to list on the Nasdaq stock exchange under the ticker symbol, YDLE.

Yodlee is one of the engines powering a variety of digital and mobile technologies in the fintech space, from digital wallets to PFM solutions. The company’s account aggregation abilities and vast collection of transactional data from consumers and businesses are widely sought after by startups and established companies alike.

A few metrics about Yodlee shared in the S-1:

More than 750 organizations in more than 10 countries use Yodlee’s platform
More than half of the 15 largest banks in the United States are Yodlee customers
More than 100 million end users reached by Yodlee technology via the company’s network of partners
More than 15 million paid users as of the March 31, 2014
Revenues in 2013 grew 21% to more than $70 million
Revenues during the first three months of 2014 grew 34% to more than $19 million
Net loss of $1.2 million for the year ended December 31, 2013
EBITDA of $4.7 million for the year ended December 31, 2013
EBITDA of $885,000 for the three months ending March 31, 2014

Yodlee is a three time Best of Show winner, having taken home trophies after demos at Finovate 2009, FinovateFall 2013, and FinovateAsia 2013. Founded in 1999 and headquartered in Redwood City, California, Yodlee recently announced partnerships with Startupbootcamp, 25fifteen, and Entrepreneurial Spark. Anil Arora is Yodlee’s president and CEO.

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Alumni News– July 2, 2014

By Julie Muhn (@julieschicktanz) Posted on July 2, 2014
Categories: Emida, Market Prophit, Q2, SafetyPay, Yodlee

SafetyPay announces partnership with Alpha Payments Cloud.

Reuters Insider interviews Igor Gonta, CEO of Market Prophit.

Q2 partners with Easy Solutions to bring multi-factor authentication to FIs.

Emida launches smartphone POS app.

Yodlee files for initial public offering; seeks to raise $75 million.

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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Finovate Blog

Author: Julie Muhn (@julieschicktanz)

Alumni News– July 14, 2014

Personal Capital’s Financial Management App Now Available on Android Wear

Alumni News– July 11, 2014

Cachet Financial Solutions Prices IPO, Seeks to Raise More than $7 Million

Alumni News– July 10, 2014

Alumni News– July 8, 2014

Prestadero Raises More than $670K in Series B Funding Round

Alumni News– July 7, 2014

Alumni News– July 3, 2014

Emida Launches New Smartphone Android POS App

Seeking to Raise $75 Million, Yodlee Files for its Initial Public Offering

Alumni News– July 2, 2014

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