TaxAct Acquires Balance Financial

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Last week, in a deal projected to benefit customers, partners, and employees, TaxAct acquired Balance Financial.

According to Devin Miller, Balance Financial CEO, TaxAct’s extensive resources will assist the Bellevue-based startup in further expanding its brand. The deal will help both TaxAct and Balance Financial enhance solutions for each of their customer bases.

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Balance Financial will continue to operate under the same name, in the same location, and with the same staff.

To learn more about Balance Financial, watch its demo from FinovateSpring 2013.

ERN Global Raises Additional $1 Million in Seed Funding, Sets Sights on Asia Market

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After the flood of funding announcements last week,* ERN Global, creator of Looop targeted offers solution, just reported that it raised an additional $1 million in seed funding.

This latest installment, which comes from unnamed private investors, brings the company’s total funding to $5.6 million. The London-based company plans to use the funding to bolster its expansion efforts into the Asia market.

It also announced that it has added Brian Thom, ex-American Express Head of Global Marketing, as president of its Asia division.

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To learn more about ERN, check out its demo video from FinovateEurope 2013.

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*Last week on the Finovate blog, we covered 5 funding announcements: 1) Azimo 2) Leaf 3) Quantopian 4) CardFlight 5) Jemstep.

Finovate Alumni News– October 7, 2013

  • Finovate-F-Logo.jpgHydrantID selects Authentify’s Services to Strengthen Online SSL Certificate Delivery.
  • The Dexterity Ventures’ Place2Give team describes its time at FinovateFall 2013.
  • EBG Podcast interviews Taulia about dynamic discounting and common misunderstandings.
  • BellaDati launches version 2.7.5.3 with extended social networking capabilities, HANA platform connector, & 15 new stat functions.
  • Nous Infosystems signed with Kony’s partner program as a strategic reseller and implementation partner.
  • Affinity Solutions joins CardLinx Association as launch member.
  • Support for its PaySecure International solution growing in Indian e-commerce market, says Acculynk.
  • FIS launches first cloud-based, real-time, core banking utility for Central and Eastern European mid-tier banks.
  • Arroweye Solutions announces launch of EMV (Europay/MasterCard/Visa) On-Demand.
  • Prepaid Resources forms wholly-owned subsidiary, Trefoil Technology, LLC.
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– October 4, 2013

  • Finovate-F-Logo.jpgDel-One Federal Credit Union to offer PFM powered by Geezeo.
  • GigaOm reports: Braintree’s cross-app payment service Venmo Touch comes to the U.K.
  • BBVA blog features Philippe Gelis, founder and CEO of Kantox.
  • Bank Innovation calls CardFlight “a dongle with a difference.”
  • The Financial Brand takes a look at mobile photo account opening via Mitek.
  • Motif Investing CEO talks about motif building in an interview with NBC.
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.

Fintech Accelerator SixThirty Unveils Inaugural Class of Four Startups

Earlier this week, a new fintech accelerator emerged out of the Silicon Prairie. St. Louis-based SixThirty announced its inaugural class of four fintech startups, selected from a pool of 100 applicants, that will take part in the 16-week incubator program that starts next Monday.

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This fall, SixThirty will invest a total of $400k in four participating startups:

Hedgeable, Matthew Kane and Michael Kane

Hedgeable is a next generation Vanguard, providing low cost, risk managed investment products in response to the Financial Crisis.
 
MiiCard, James Varga
Through a patented process, miiCard leverages access to online financial accounts to verify an individual’s identity beyond a photo ID through a simple process that occurs completely online in five to ten minutes.
See miiCard’s FinovateFall 2013 demo.
Upside, Tom Kimberly and Juney Ham
Upside uses innovative financial science and beautiful UI to provide goal-based investment management to mass affluent young professionals.
XYverify, Elliot Klein

XYverify enables consumers, merchants and financial institutions to reduce costs and prevent fraud via a mobile authentication platform.

Along with each receiving $100k, the companies will have access to mentorship and connections to top financial services firms. Four more companies will be selected for the Spring program. The application window for that program will open in mid-December.

Finovate Alumni News– October 3, 2013

  • Finovate-F-Logo.jpgValidSoft releases latest addition to the VALid suite of telecommunication based security products, Zero Latency Correlation.
  • Kabbage partners with Xero to provide SMBs capital based on their online accounting data.
  • Faces of Innovation features Wade Arnold, Banno CEO.
  • FIS Global signs agreement to market ARM Insight’s Prepaid Management Platform.
  • MasterCard announces partnership with Parkeon to provide merchant offers, loyalty services via smart parking terminals.
  • PYMNTS.com interviews ZooZ VP for business development, Noam Inbar.
  • ISO & Agent talks about Moolah LLC’s deployment of Leaf’s LeafPresenter POS tablets.
  • SmartyPig announces CorePro, the next generation of its savings solution which helps companies integrate savings accounts into their existing solutions.
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.

Online Lender Kabbage Partners with Cloud Accounting Software Provider Xero to Provide SMBs Capital Based on Their Online Accounting Data

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Two Finovate alums are joining forces to better provide online small businesses with working capital.

Atlanta-based Kabbage announced yesterday that it has partnered with New Zealand-based Xero to use small business’ accounting data to underwrite loans.

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Through this partnership, Xero’s customers will be able to receive an answer on an underwriting decision in fewer than 10 minutes.

This is Kabbage’s fourth major underwriting and distribution partnership in the past six months. Integrations with Authorize.net, Quickbooks, Stripe have also provided enhanced ways to underwrite small business loans.

Kabbage debuted its Quickbooks financing platform at FinovateSpring earlier this year.

Xero showcased its Business Identification method at FinovateSpring 2011.

Finovate Alumni News– October 2, 2013

  • Finovate-F-Logo.jpgBillhighway 3-peats with “Metropolitan Detroit Best and Brightest Company to Work For” 2013 win.
  • BehavioSec awarded DARPA Phase 2 contract.
  • Spend Matters interviews Tradeshift CEO, Christian Lanng.
  • ACI Worldwide embraces Experian Decision Analytics decisioning solution.
  • FIS announces partnership with Australian debit card system eftpos to build payments hub.
  • Quantopian raises $6.7 million in Series A round.
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– October 1, 2013

  • Personal Capital to open Denver office.
  • Purchasing Insight reports: Taulia to bolster their presence in Europe.
  • Cardlytics announces new brand identity, including new logo and redesigned website.
  • CurrencyFair wins “Most Insightful & Intriguing Internet Innovation” at IIA Net Visionary Awards.
  • Leaf raises $20 million from Heartland Payment Systems.
  • Bright Funds announces support for PayPal.
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– September 30, 2013

  • Taulia announces its Supplier Assurance Initiative, designed to provide services to customers and suppliers within Xign’s buyer network.
  • Upstart Business Journal features peerTransfer.
  • Azimo announces $1 million seed round for European expansion.
  • ACI Worldwide launches ACI Bill Presentment Services to ease adoption of electronic billing and invoicing.
  • Bank Innovation takes a look at Manila’s AOL Bill Manager.
  • eDeposit announces that it is now a fully licensed money transmitter in all 50 states.
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.

BankersLab and FICO Launch New App in Brazil: Missao Positivo

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BankersLab, the company that gamifies financial learning, unveiled a new app in Brazil in conjunction with FICO today called Missao Positivo (Portuguese for “Mission Positive”).

The goal of the app is to:

    • help players take charge of their financial life
    • create a better understanding of their financial obligations
    • understand how payment behavior affects their credit options

FICO brings 57 years of experience in understanding how a consumer’s behavior impacts their credit risk. The new app helps it bring that knowledge to consumers with insights into how to improve their financial standing.

BankersLab last demoed at FinovateAsia 2012 where it launched ScoringLab. If you’re interested in seeing the lineup of companies for FinovateAsia this year, check it out here.

Finovate Alumni News– September 27, 2013

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      Real estate tech firm Tribus is integrating Planwise’s PFM to help homebuyers evaluate the affordability of listings.

    • MyBankTracker lists Check, Manilla, and Personal Capital as 3 finance apps just as good as Mint.
    • MoneyDesktop marketing video wins 2013 Telly Award.
    • PC World features 11 FinovateFall demo companies. 
    • Singapore-based MyHero earns $10M from Kleiner Perkins and others to enhance TradeHero app.
    • What’s the Next Big Thing in financial services? Ideas from FinovateFall and beyond.
    • American Banker: The cutting edge of online banking, as practiced by a Polish bank (mBank).
    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.