Author: Julie Muhn (@julieschicktanz)

ERN Global Raises $1.6 Million in Seed Funding

By Julie Muhn (@julieschicktanz) Posted on
Categories: ERN

ERNLogoNEW.jpg

Data analytics platform ERN Global announced that it has raised $1.6 million (€1.2 million) in seed funding.

This second round of seed funding, combined with the $2 million that the UK-based company received late last year, brings the company’s total funding up to $3.6 million.

The funding comes from “a number of high net worth individuals” and will be used to further develop ERN’s customized loyalty platform, Looop (pictured below), which it launched at FinovateEurope in February.

ERNLooop.jpg

To learn more about ERN and see Looop in action, watch its FinovateEurope 2013 demo.

Share this:

Send Post Twitter LinkedIn Facebook

Braintree Now Processing $10 Billion in Payments Annually

By Julie Muhn (@julieschicktanz) Posted on
Categories: Braintree

BraintreeLogo2.jpg

Payment processing company Braintree recently announced it is now processing $10 billion in payments annually. 

This is $2 billion (20%) more than the Massachusetts-based company reported in April of this year and it is 2x more than what it was processing 6 months ago. According to Pando Daily, 25% of this growth comes from international merchants.

Braintree also recently added Swedish game developer Mojang to its list of clients, which includes:

BraintreeClients.jpg

To learn more about Braintree, watch its FinovateSpring 2013 demo.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– July 11, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Allied Payment Network, Braintree, Dashlane, FIS, Linkable Networks, Metaforic, Moven, Narrative Science, Quantopian, SumUp
  • Finovate-F-Logo.jpgNetbanker walks through Moven’s invite and application process.
  • SumUp to participate in the Visa Ready program to prepare their mobile acceptance software and hardware tested and approved for use by Visa.
  • Linkable Networks partners with 4INFO, a mobile ad tech company, to provide consumers with access to card-linked offers via mobile devices.
  • Metaforic releases Metaforic WhiteBox, a secure cryptography solution for Mobile Financial, Conditional Access, BYOD and Embedded Communications and payments.
  • Merchant Customer Exchange chooses FIS to power real-time, mobile commerce payment network.
  • Finovate alum Braintree highlighted in coverage of MobileBeat 2013.
  • Financial Post takes a look at “do-it-yourself hedge fund site” Quantopian.
  • Allied Payment Network and Malauzai Software team up to provide PicturePay as stand-alone mobile bill pay solution.
  • Dashlane and Narrative Science graduate from FinTech Innovation Lab after participating in “Demo Day”.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– July 3, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Alkami Technology, BehavioSec, CurrencyFair, EyeVerify, Flint Mobile, Ixaris, Linkable Networks, Yodlee
  • Finovate-F-Logo.jpgSmithsonian Magazine features how BehavioSec authenticates users.
  • NECN.com features Tom Leighton, CEO of Akamai Technologies to talk about how Akamai makes the internet faster and safer for its clients.
  • Ixaris launches Ixaris Payments Server to help banks build their own corporate prepaid programs.
  • Android Police reviews EyeVerify.
  • Tasker Payment Gateways CEO touts alliance with Flint Mobile.
  • CurrencyFair featured in The Independent column on saving money when sending cash overseas.
  • Yodlee expands international reach by partnering with BlueChilli, a Sydney-based technology startup incubator.
  • Linkable Networks wins endorsement from American Bankers Association for its card-linked offer technology.
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.

Share this:

Send Post Twitter LinkedIn Facebook

SigFig Lands $15 Million in Series B Funding From Top Investors

By Julie Muhn (@julieschicktanz) Posted on
Categories: SigFig

SigFigLogo9.11.jpg

SigFig, the platform that helps users manage a total of $75 billion in assets, recently received $15 million in Series B funding.

The round was led by Union Square Ventures and Bain Capital Ventures. Existing investors, DCM and a number of prominent angel investors also contributed.

AccountIMG.jpg

The San Francisco-based company plans to use the funding to scale and improve its services.

To learn more about SigFig, watch its FinovateFall 2011 demo.

Share this:

Send Post Twitter LinkedIn Facebook

Intuit Sells Financial Services Arm for $1 Billion

By Julie Muhn (@julieschicktanz) Posted on
Categories: Intuit, Intuit Financial Services

IntuitLogo.jpg

Intuit, creator of TurboTax and Quickbooks, announced today that it will sell Intuit Financial Services (IFS) to Thoma Bravo, a private equity investing firm.

Thoma Bravo will purchase IFS for $1 billion in cash. The deal includes Intuit’s banking, digital payments and mobile banking platforms. It excludes some assets, including OFX connectivity and Mint.com, which now boasts 5 million users.

Intuit purchased IFS in 2007 (it was then known as Digital Insight) for $1.35 billion. Some analysts have pointed to slow revenue growth as a reason for the sale. According to Reuters:

“IFS, which provides banking software to financial institutions, reported a revenue growth of 9 percent for the quarter ended April. In contrast, revenue at Intuit’s small business unit rose 17 percent and that at its consumer tax division increased 14 percent.”

Intuit demoed at Finovate 2009. Mint.com debuted at the very first Finovate in 2007 before it was aquired by Intuit. It last demoed at FinovateSpring 2013 in San Francisco.

Share this:

Send Post Twitter LinkedIn Facebook

FinovateAlumni News– July 2, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: ayondo, Azimo, Blaze Mobile, CommunityLend, Dwolla, Lending Club, Linkable Networks, Monitise, On Deck Capital, OpenCoin, SafetyPay, SecureKey, TradeHero, TSYS
  • Finovate-F-Logo.jpgLending Club’s platform has originated $2 billion in total personal loans, $158 million of loans in June alone.
  • HSBC Bank Oman launches SecureKey for internet banking and upgrades mobile banking app.
  • Adidas to accept SafetyPay for online payments across Latin America.
  • Iowa government will soon accept Dwolla as payment for property and vehicle taxes.
  • The American Bankers Association endorses the card-linked offer technology powered by Linkable Networks.
  • The Next Web reports: Virtual stock market game startup TradeHero aims for $5m funding and 1m users by year-end.
  • Monitise and Telefonica enter mobile money partnership.
  • The Globe and Mail looks at On Deck Capital, Lending Club, and CommunityLend’s FinanceIt as alternative financing.
  • Money Insider column in The Independent features Azimo.
  • Pymnts.com interviews TSYS Director of Acquiring Solutions Product Management, Tedd Huff on payment processing.
  • OpenCoin launches Bitcoin Bridge, an e-commerce enabler for Ripple.
  • CEOCFO Magazine interviews Blaze Mobile CEO Michelle Fisher.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– June 28, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Capital Access Network, CoverHound, GoBank, Kashoo, Lendio, LendUp, OneID, SeedInvest
  • Finovate-F-Logo.jpgCapital Access Network achieves new record of $66 million in monthly volume.
  • CoverHound names Keith Moore Chief Marketing Officer.
  • ProjectionHub and Lendio partner to help small businesses find the right loan.
  • Green Bay Press Gazette features GoBank on the heels of the company’s public launch this week.
  • Kashoo publishes interview with company “Jack of All Trades” Amrik Randhawa.
  • OneID provided to students of Sydney, Australia’s MacQuarie University.
  • Techcrunch takes a look at LendUp’s plan to provide instant online, mobile loans.
  • SeedInvest raises $1 million in round led by the Jumpstart New Jersey Angel Network.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– June 27, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Billhighway, Handpoint, Kony Solutions, MasterCard, OpenCoin, peerTransfer, The Receivables Exchange
  • Big Week for Funding: Kony Solutions, peerTransfer, The Receivables Exchange Raise a Total of $34 Million.
  • Billhighway adds Cole County Residential Services as client.
  • MasterCard unveils Simply Commerce to help merchants accept electronic payments.
  • Newfination interviews Patrick Griffin, head of business development for OpenCoin.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Big Week for Funding: Kony Solutions, peerTransfer, The Receivables Exchange Raise a Total of $34 Million

By Julie Muhn (@julieschicktanz) Posted on
Categories: Kony Solutions, peerTransfer, Receivables Exchange

This week, three Finovate alums announced significant funding, totaling more than $34 million.

Kony.jpgKony: provides mobile app and multi-channel solutions

    • Amount: $18.3 million Series D
    • Investor: Telstra Ventures 
    • Funding purpose: Further expand into the Asia Pacific market, invest further in product development, marketing, sales and operations, and accelerate growth in the U.S.
    • Total Raised: $52.4 million
    • Founded: 2007
    • FinovateFall 2011 demo
KonyHomepage.jpg

Peertransferlogo.jpg

peerTransfer: provides solutions that lessen the cost of international student tuition payments 
peerTransferHomepage.jpg

ReceivablesExchangeLogo.jpg

The Receivables Exchange, an online marketplace for buying and selling accounts receivables
    • Amount: $10 million
    • Investors: Bain Capital Ventures, Redpoint Ventures, Prism Ventureworks, and StarVest Partners
    • Funding purpose: Accelerate distribution of its Corporate Receivables Program, to invest in client-requested technology enhancements, and to plan for international expansion
    • Total Raised: $39.8 million
    • Founded: 2007
    • FinovateFall 2010 demo
ReceivablesExchangehompage.jpg

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– June 26, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Banno, Finect, InComm, IntelliResponse, LendUp, LICUOS, Monitise, Q2ebanking, Realty Mogul, Receivables Exchange, Striata, SumUp
  • Finovate-F-Logo.jpgWalmart names InComm supplier of the year.
  • Crawford Technologies announces new partnership with Striata.
  • American Banker reports: Q2ebanking to Resell Andera Software.
  • SumUp launches plug and play POS tech.
  • Banno names Ben Metz as CTO.
  • Receivable Exchange closes $10M funding round led by current investors.
  • GoBank goes live, mobile banking app available on iOS.
  • Newfination interviews Sasha Orloff, CEO of LendUp.
  • IntelliResponse adds VOICES to virtual agent technology.
  • Lloyds Bank partners with Monitise to develop a suite of mobile card acceptance solutions for micro-merchants, start-ups and small business owners.
  • LICUOS wins Innotribe Startup Disrupt competition at Next Bank Madrid.
  • Realty Mogul tops $2 million raised one month after reaching $1 million raised mark.
  • Finect advises FIs not to panic when it comes to spot checks from FINRA.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– June 24, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Acculynk, Andera, Capital Access Network, Cartera Commerce, Currensee, Entrepreneurial Finance Lab, GoodApril, Intuit, Keynote DeviceAnywhere, Manilla, Realty Mogul, Tagit, TIBCO Software, Zighra, Zooz
  • Finovate-F-Logo.jpgCapital Access Network named one of the top financial services companies of the year at the 11th Annual American Business Awards.
  • American Banker looks to Zigrhra, GoodApril, Realty Mogul, Entrepreneurial Finance Lab for innovation.
  • Lead411 names Cartera Commerce to Hottest Companies in Boston list.
  • TIBCO and Western Union partner to leverage Big Data to anticipate consumer trends and customize customer engagement.
  • Banking2020.com interviews Andera and Intuit on the branch of the future.
  • Tagit to expand in the Philippines by offering mobile-banking application software to banks.
  • Manilla adds email integration feature to personal finance platform.
  • Acculynk announces RuPay debit cardholders in India can make online purchases using the card.
  • Keynote DeviceAnywhere to be acquired by private equity investment firm, Thoma Bravo in a $395 million, all-cash, deal.
  • Adotas column on mobile commerce for SMBs takes a look at Zooz.
  • NordFX and Currensee launch partnership as former joins Trade Leaders Investment Program.
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.

Share this:

Send Post Twitter LinkedIn Facebook