Nutmeg Receives $5.3 Million in Funding from Pentech, Tim Draper, and Others

Thumbnail image for NutmegLogo.jpg

Online investment management tool, Nutmeg, announced today that it has received $5.3 million (£3.4 million). 

Investors include:

    • Pentech
    • Daniel Aegerter (Swiss chairman of Armada Investment Group)
    • Tim Draper (an early investor in Skype in Europe and other notable startups)
    • Klaus Hommels (on Spotify’s board)

The startup will use the funds to help prepare for its UK launch later this summer.

To learn more about Nutmeg, watch its FinovateEurope 2012 demo.

Finovate Alumni News– June 19, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThis is Money Blog compares Zopa with RateSetter and Funding Circle.
  • Geosho brings location-based visualization to Tradeshift.
  • TechCrunch lists reasons why its okay to trust FutureAdvisor to manage your money.
  • Credit Union Journal reports Star One CU Launches Tyfone’s Mobile Banking.
  • American Banker reports Andera’s oFlows supports paperless account opening.
  • Kony and Wipro form partnership to speed up mobile app development.
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.

Kony and Wipro Form Partnership to Speed up Mobile App Development

Thumbnail image for Thumbnail image for Kony.jpg

Last week mobile application management company, Kony Solutions, partnered with Wipro Technologies, a global technologies and outsourcing company. The partnership will enable Wipro to help developers in the U.S., U.K., Australia, and the Middle East build applications faster.

The joint solution will focus on mobile solutions for: 

    • Financial services
    • Healthcare and life sciencesThumbnail image for Thumbnail image for WiproLogo.jpg
    • Automotive
    • Retail
    • Utilities
    • Transportation

The two expect application development and rollout will accelerate by 40 to 70%.

To learn more about Kony Solutions or Wipro, watch Kony’s FinovateFall 2011 demo and Wipro’s FinovateEurope 2012 demo.

Finovate Alumni News– June 18, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSimple sends out a wave of new beta invites, including one to Square’s co-founder.
  • The Financial Services Club explores how Fidor Bank is innovating in the traditional banking space.
  • Wall Street Journal looks at Doxo’s role in the bill payment space.
  • Barrons examines how SigFig’s portfolio managers work.
  • American Banker reports BankSimple Aims to Simplify Opening Online Accounts using Andera’s SDK.
  • The Wall Street Journal examines innovation in fintech.
  • Dwolla’s FiSync goes live.
  • Geezeo signs Missouri Credit Union.
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– June 14, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAlbany Times Union reports CSI’s globalVCard leads execs out of ID theft and into mobile payments.
  • $3.7 bil Patelco CU commits to ThreatMetrix’s malware defense software.
  • Backbase powering online banking platform for Absa Group, a subsidiary of Barclays.
  • American Banker reports Firethorn Mobile to power Burger King’s mobile app.
  • GlobalCollect offers BOKU as Mobile Payment Checkout to its Merchant Network.
  • Financial Services and Big-Data Executive Mary Anne Keegan joins BillGuard as CMO.
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– June 13, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgKashoo signs accountant.org to its MVP program.
  • The WSJ looks at SecondMarket’s life after the Facebook IPO.
  • 2 Minute Finance gets a personalized demo from Cardlytics.
  • Virtual Piggy moves headquarters to Hermosa Beach.
  • Taulia and Cloud Trade join forces to ease invoice process for buyers and suppliers.
  • peerTransfer partners with Educational Computer Systems (ECSI) to broaden its reach.
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.

peerTransfer Partners with Educational Computer Systems (ECSI) to Broaden its Reach

Thumbnail image for Peertransferlogo.jpg

Last week tuition payment solutions platform, peerTransfer, announced that it partnered with Educational Computer Systems (ECSI), a service provider for the higher education industry.

The partnership will enable international students attending ECSI partner schools to process their tuition and other school-related payments using the peerTransfer platform. It will also integrate international payment options for students using ESCI’s tuition payment platform.

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

Finovate Alumni News– June 12, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgClairmail receives Frost & Sullivan Customer Value Enhancement Award.
  • T8 Webware adds Des Moines Office.
  • Ixaris names Kenneth Bonnici CFO.
  • ValidSoft partners with SOCURE to bring security and ID theft protection to social networks.
  • Intuit launches Mobile Banking Purchase Rewards for iPhone and Android.
  • ID Analytics names Larry McIntosh as CEO.
  • TSYS Acquiring Solutions launches Value Added Resource (VAR) Partner Connect Program.
  • Tyfone signs 10-year partnership with PT Number One in Indonesia.
  • ThreatMetrix forms partnership with Imperva.
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.

Credit Sesame Scores $12 Million in Series C Funding

Thumbnail image for CreditSesameLogo.jpg

Credit- and debt-monitoring service Credit Sesame, announced today that it raised $12 million in Series C funding from the following investors:

    • Globespan Capital Partners 
    • Menlo Ventures
    • Inventus Capital

The round brings Credit Sesame’s total funding to almost $20 million and is intended to help the company expand its customer base.

Credit Sesame has already seen a lot of growth since it launched in April of 2010: 

    • Oversees more than $22 billion in consumer debt
    • Finds $175 million a month in savings for users
    • Almost half frequent the site 2- 3 times per month   
    • Revenue growth has quadrupled quarter over quarter

To learn more about Credit Sesame, watch its FinovateFall 2011 demo.

Finovate Alumni News– June 11, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTagit wins coveted Emerging Enterprise Award 2012.
  • BlogTalkRadio talks to Kathryn Petralia, COO & Co-founder of Kabbage.
  • Offermatic alters business model, no longer pursuing card-linked offers.
  • Chicago Tribune looks at Future Advisor and Betterment as two inexpensive investing platforms.
  • BBC news reports Zopa has lent more than £200m since it started in 2005.
  • Credit Sesame Scores $12 Million in Series C Funding.
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.

Holvi Reveals Beta Account Activity

Thumbnail image for HolviLogo.jpg

Earlier this week, we received an email from Finland-based group-account platform Holvi that listed recent developments:

    • New homepage
    • Have processed payments of more than 300,000 euros
    • The majority of requests for beta accounts (70%) come from outside of Finland (though Holvi currently takes only Finland-based users)
    • Most requests for accounts are from people wanting to use it to organize finances for activities and events
    • People wanting to use Holvi for business comprise the second highest number of requests for accounts. For example:
– Lille-lle is running her small T-shirt print business on Holvi
– Devaamo is a developer event that conducts its banking with Holvi
– Hermanni Turkki is running their band and selling their first album on Holvi

To learn more about Holvi, watch its FinovateEurope 2012 demo.

Planwise Lands $200K in Seed Funding

Thumbnail image for planwiseLogo1.jpg

San Francisco-based PFM Planwise announced a $200,000 round in seed funding today. Several angel investors participated in the round. 

The startup plans to use the funding to further expand its user base.

planwiseFunding2.jpg

BetaKit covered the funding announcement and explained some of Planwise’s future goals:

    • Update the platform with more visualizations
    • Integrate with more banks
    • Add mobile apps 
    • Integrate with existing PFM tools to enable users to track their spending
To learn more about planwise, watch its FinovateFall 2011 demo.