Julie Muhn (@julieschicktanz), Author at Finovate

ShopKeep POS Raises $10 Million in Series B Round

By Julie Muhn (@julieschicktanz) Posted on December 6, 2012
Categories: ShopKeep POS

Yesterday, iPad-based POS solution provider ShopKeep POS brought in $10 million in series B funding. It has now raised more than $12 million.

Participating investors include:

Canaan Partners
Tribeca Venture Partners
TTV Capital

The New York-based company plans to use the $10 million to integrate with new partners to create a more robust solution for its SMB users and hire engineering talent to build out the iPad-based POS platform.

ShopKeep POS has experienced an eightfold growth since the beginning of this year, with more than 3,000 SMB retailers using the platform.

To learn more about ShopKeep POS, watch its Best of Show-winning FinovateFall 2012 demo.

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Finovate Alumni News– December 6, 2012

By Julie Muhn (@julieschicktanz) Posted on December 6, 2012
Categories: BehavioSec, CashStar, Entrepreneurial Finance Lab, Lending Club, Personal Capital, Simple

Finextra features Simple (formerly BankSimple).

HID Global and BehavioSec join forces to add new layer of protection to fraud detection system.

Entrepreneurial Finance Lab reflects on FinovateAsia.

Personal Capital working with Pershing Advisor Solutions to make the sign-up process for investment clients even easier.

Lending Club debuts low-interest, fixed-rate personal loan platform to Indiana residents.

CashStar partners with Punchbowl to provide eGift-enabled digital greeting cards.

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 Alumni News– December 5, 2012

By Julie Muhn (@julieschicktanz) Posted on December 5, 2012
Categories: Figlo, Fiserv, Keynote DeviceAnywhere, MasterCard, Mitek, SoMoLend

Mitek to power US Bank’s mobile photo bill pay; launching early 2013.

Fiserv reaches milestone, delivers 2 billionth e-bill.

The Financial Brand looks at Knab’s online bank that runs on Figlo’s platform.

The city of Cincinnati partners with SoMoLend to support small businesses.

Forbes ranks Keynote Systems “one of the best 100 companies in America.”

US Airways implements MasterCard PayPass for in-flight purchases.

Keynote Systems DeviceAnywhere now integrated with HP’s QuickTest Professional.

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 Alumni News– December 4, 2012

By Julie Muhn (@julieschicktanz) Posted on December 4, 2012
Categories: Cachet Financial Solutions, Dynamics, Equifax, Expensify, InComm, MoneyDesktop, peerTransfer, ProfitStars, Prosper, Simple, SoMoLend, Thomson Reuters, Virtual Piggy

American Banker looks at how UMB is implementing Dynamics’ ePlate card technology.

peerTransfer rolls out international payment solution to the K-12 (kindergarten through twelfth grade) education market.

InComm Canada launches No-Fee Vanilla Prepaid Product Line.

The CUNA Technology Council presents MoneyDesktop with Best of Show Award at the 17th Annual CUNA Technology Council Conference.

Cachet Financial Solutions powers Simple’s Remote Deposit Capture.

STL Beacon reports SoMoLend blazes new funding path in St. Louis through loans.

Expensify launches new feature: Commercial Card Reconciliation.

Desert News reports Virtual Piggy helps parents control children’s online spending.

Prosper launches new data enhancements.

VentureBeat reports Equifax buying CSC’s credit-services biz for $1B in cash.

Banno partners with ProfitStars to offer remote deposit, integrated bill pay.

Thomson Reuters upgrades user interface, functionality for FX Matching platform.

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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Xero Raises $49 million from Peter Thiel-Backed Valar Ventures and Matrix Capital Management

By Julie Muhn (@julieschicktanz) Posted on December 3, 2012
Categories: Xero

Cloud-based accounting platformXero announced last week a NZ$82 million (US$67 million) investment from the following two companies:

Matrix Capital Management: NZ$58 million (US$48 million)
Peter Thiel-backed Valar Ventures: NZ$24 million (US$19 million)

Of the total, NZ$60 mil (US$49 mil) was new money and another NZ$22 million (US$18 million) went to purchase shares from Xero’s three largest shareholders. The new investors purchased the shares in order to minimize dilution to existing shareholders.

To learn more about Xero, watch its FinovateSpring 2011 demo.

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Dwolla Launches Guest Checkout and New POS Integrations

By Julie Muhn (@julieschicktanz) Posted on December 3, 2012
Categories: Dwolla, ShopKeep POS

Iowa-based payment platform Dwolla made some key announcements today on its blog.

1.) Guest checkout
Users no longer need a Dwolla account to check out online with Dwolla. Instead, users authorize a one-time transfer from their bank account (via ACH).

Once customers opt to pay as a guest, they are routed to Dwolla’s external payment gateway where it takes 60 to 90 seconds to complete the process (assuming you have your checking account number handy) as follows:

a.) Enter name, Zip code, email address
b.) Enter phone number where a text or voice-authentication code is transmitted
c.) Enter the authentication code
d.) Enter bank account and routing numbers

To finalize the transaction, the consumer completes the normal checkout process back at the merchant.

2.) The “Dwolla Price”
Merchants can encourage consumers to use Dwolla by sharing the interchange savings. In the example below, a $100 unit is sold at the discounted price of $98.75 after the 3% interchange savings is split 50/50 with the customer and then the Dwolla flat 25 cents is added back in.

3.) POS integrations

Dwolla announced POS integrations that have been in use for almost a month now*:

Change and ShopKeep POS can initiate payments with Dwolla instead of using the Dwolla app or mobile wallet partner.

To learn more about Dwolla, watch its FinovateSpring 2012 demo video.

______________________________________________________________

*ShopKeep POS announced its integration at FinovateFall 2012.

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Finovate Alumni News– December 3, 2012

By Julie Muhn (@julieschicktanz) Posted on December 3, 2012
Categories: Andera, Banno, BillFloat, BillGuard, Lighter Capital, Mortgage Harmony, ProfitStars, Sybase 365, UBank, Virtual Piggy

American Banker lists Andera, Banno, BillFloat, BillGuard, Mortgage Harmony, and Lighter Capital as top 10 tech companies to watch in 2013.

ZDNet reports UBank gears up for mobile banking site with beta program.

Frost & Sullivan recognizes Virtual Piggy with the 2012 Global Frost & Sullivan Award for Entrepreneurial Company of the Year.

ProfitStars adds new protections against malware.

Sybase 365 and Globe Telecom partner to launch LTE roaming service with China Mobile.

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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Simple (Formerly BankSimple) Rolls Out Mobile Check Deposit

By Julie Muhn (@julieschicktanz) Posted on November 29, 2012
Categories: Simple

Yesterday, Simple (formerly BankSimple) announced on its blog that it has added a remote deposit capture (RDC) feature.

Customers can use the Simple App on their iPhone to deposit checks. All they need is an endorsed check and their account number, which Simple provides within the app itself.

Depending on how long you’ve been a Simple customer, up to $200 of the check will be deposited into your account the next day. Users can deposit a maximum of $5,000 total, up to 10 checks per week, and 15 checks per 30 days.

There is still no word as to when Simple will roll out an app for Android.

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

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Finovate Alumni News– November 29, 2012

By Julie Muhn (@julieschicktanz) Posted on November 29, 2012
Categories: Bazaarvoice, Corduro, Experian, MatchFund, Metaforic, MiiCard, MoneyDesktop, Monitise, Pageonce, Zopa

Metaforic unveils Latest Software Protection Technology.

Monitise in talks to raise up to 100 million pounds ($160 million USD).

miiCard launches online identity trust challenge for Scotland’s university students.

American Banker looks at My Community FCU’s experience with MoneyDesktop.

Zopa exceeds a quarter of a billion pounds ($400 million USD) in P2P loans.

Forbes reports that Corduro is seeking to raise $10 million in series B funding.

Pageonce adds File Cabinet, Scheduled Payments to improved Money & Bills app.

Epson expands global deployment of Bazaarvoice platform.

Matchfund wins place in Yodlee Interactive Incubator Program.

Experian announces renewed data, analytics deal with Hitachi Capital UK.

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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aSpark, DCisions Both Acquired in Separate Deals

By Julie Muhn (@julieschicktanz) Posted on November 28, 2012
Categories: aSpark, DCisions

Recently, two Finovate alums announced that they had been acquired. We were excited to see two successful exits:

aSpark, an idea-incubation company that generates cloud-based mobile solutions for FIs
Founded: 2011
Acquired by: LiquidHub, provider of management and IT consulting
Finovate demo: FinovateFall 2012

Co-founder and CEO, Raj Patil, and his team will now continue operating under the company name LiquidHub.

DCisions, data analytics company that operates InvestorBee, a consumer-based service that provides investment data
Founded: 2005
Acquired by: Interactive Investor, a guide to UK finance and investing
Finovate demo: FinovateEurope 2012 and FinovateSpring 2012

DCisions will conclude independent data services on December 31, 2012, at which point the FTSE DCisions Index Series and InvestorBee service will stop.

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FinTech Innovation Lab Accepting Applications Through December 19

By Julie Muhn (@julieschicktanz) Posted on November 28, 2012
Categories: Uncategorized

Last week we met with the President and CEO of the FinTech Innovation Lab, Maria Gotsch, to learn more about the program. The Lab is currently accepting applications through December 19.

For those not familiar with the Lab, it is a program that connects early- and growth-stage financial technology companies to a group of 14 leading financial services firms:

Ally Financial

American Express

Bank of America

Barclays

Capital One

Citigroup

Credit Suisse

Deutsche Bank

Goldman Sachs

JPMorgan Chase

Morgan Stanley

New York Life

State Street

UBS

Goals
The program has two main goals:

1. Create a stronger fintech sector in New York City. Because many startups look to the West Coast for their headquarters, the lab aims to keep them in New York.

2. Expose its 14 financial institution partners to cutting edge technology. The Lab facilitates a dialogue between financial institutions and fintech companies, ensuring that their products and services are addressing real needs.

Benefits
Companies find the biggest benefit of the Lab is the feedback and mentoring from senior executives (CTO/CIOs) from large financial services firms. The tech companies receive more direct feedback than what they would receive in a typical sales call.

Challenges
The biggest challenge for participants is committing to the 12-week time requirement. Companies have to be prepared to spend 12 weeks on-site in New York and attend weekly panel discussion meetings. Because participants still need to run their business, they must balance the two.

Selection Process
Companies submit written descriptions of their product. About 20 of those are brought in to pitch to the financial institution representatives. Of those, six or seven are selected to go through the full program.

Ideally, the Lab receives a mix of early and growth stage companies that, at a minimum, have a well-developed and working beta. The Lab will even accept well-established companies for the program if they have a new and innovative product.

How to Apply
The Lab is accepting applications through December 19. Go to fintechinnovationlab.com to apply or learn more about the program.

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Finovate Alumni News– November 28, 2012

By Julie Muhn (@julieschicktanz) Posted on November 28, 2012
Categories: Bazaarvoice, Betterment, Capital Access Network, CashStar, Compass Plus, Credit Sesame, Enloop, Jingit, Klarna, SafetyPay, Social Money, Tradeshift

Payelp Global partners with SafetyPay to expand online payment options for merchants and customers worldwide.

Enloop releases the next generation of its business planning app to help entrepreneurs plan businesses.

Social Money announces launch of new product, CorePro, with a new partner, The Bancorp.

Tradeshift announces partnership with Verbella CMG, an SAP Content mgmt. solutions provider.

Anton Commissaris, a founding exec of Mint.com, joins Credit Sesame as COO.

Betterment enhances advice for life goals.

Capital Access Network names advisory board to guide launch and growth of latest offering to small businesses, CapTap.

CNBC reports CashStar, WEX partner to provide eGift card services.

New partnership with Klarna helps 3dcart reach European customers.

Compass Plus earns high ranking in annual PayX report.

AdExchanger interviews Bazaarvoice Media GM Barkow.

Team Bronson Moneymakers reviews Jingit.

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)

ShopKeep POS Raises $10 Million in Series B Round

Finovate Alumni News– December 6, 2012

Finovate Alumni News– December 5, 2012

Finovate Alumni News– December 4, 2012

Xero Raises $49 million from Peter Thiel-Backed Valar Ventures and Matrix Capital Management

Dwolla Launches Guest Checkout and New POS Integrations

Finovate Alumni News– December 3, 2012

Simple (Formerly BankSimple) Rolls Out Mobile Check Deposit

Finovate Alumni News– November 29, 2012

aSpark, DCisions Both Acquired in Separate Deals

FinTech Innovation Lab Accepting Applications Through December 19