, a startup that provides working capital to online businesses, revealed
two big announcements today.
First, it received $17 million in funding from Mohr Davidow Ventures, BlueRun Ventures, David Bonderman, Warren Stephens and UPS Strategic Enterprise Fund. With this funding, Kabbage says:
“We’re able to explore new territories; we can pursue additional marketplaces, new financial products and expand our model even further now.”
Second, it has been awarded a US patent:
“The US Patent is an ‘apparatus to provide liquid funds in the online auction and marketplace environment.’ Basically, it’s a system that lets use an online merchant’s shop and selling history to best determine how dire a need there is of funds.”
International education payment startup, peerTransfer
a round of $7.5 million in Series A funding from Spark Capital, Accel Partners, Maveron, and Boston Seed Capital.
“The funding will be used to increase headcount and infrastructure across functional areas to support growth as it expands the number of colleges and universities it works with. peerTransfer already works with over 30 leading institutions…”
This round, when added to the $1.1 million in seed money received last October, brings the startup’s total funding to $8.6 million.
ActivePath’s email banking technology with Cardlytics’ transaction marketing platform.
“With this partnership, banking customers can
receive enhanced offer-carrying eStatements
directly into their inbox to be viewed and transacted from within in the email message at their convenience without the need to log on to the bank’s website or download the statement. Additionally, this partnership will provide banks and retailers with the ability to utilize transaction-based marketing in the eStatement, a win-win solution that can help increase transaction volume, enhance customer relationships and generate new revenue.”
, a startup focused on financing small businesses, announced
its goal to provide up to $500,000 in financing to a business with “explosive” revenue potential.
The reasoning behind this effort is:
“We heard the banks were tightening credit, so we decided to do the opposite…. If the banks aren’t going to fund awesome, growing companies, we will, no matter what the market does.”
The loan will go to a business in the pyrotechnics area that applies by 5PM Pacific Standard Time on August 31, 2011.
To see Lighter Capital’s new fintech developments, come see its live demo at FinovateFall this September. Get your ticket here
crop and rotate receipts.
The functionality is simple:
1) In the Edit dialog, select Rotate/Crop
2) Adjust the image as needed
3) Save the image
Made a mistake? It even allows users to undo changes to receipts by restoring the original copies.
For more information, see Expensify’s FinovateSpring 2011 demo here
discusses how he began the startup.
The interview highlights Silbert’s success in creating liquidity in private markets and shares his lessons learned as an entrepreneur.
In order to provide its users with a wide variety of topics and points of view, eToro
has formed a
with news site Benzinga.
“eToro has employed several Benzinga writers who will create content specifically designed for the eToro user. This content will be posted in addition to the blog’s regular daily updates, multilingual daily and weekly technical analysis, and various columns such as Trader’s Insight and Social Trading.”
eToro is hoping the new addition will provide its readers with relevant content that is easy to understand.
a new round of VC funding, $10 million from IA Ventures, Shasta Ventures, and other existing investors.
The banking startup also announced partnerships with Finovate
alums Visa and Andera
, along with The Bancorp Bank, TxVia, Allpoint, and CBW Bank.
“…will use the Application Risk Management and Funding Risk Management components of Andera’s software development kit (SDK) to power its online account opening process.”
BankSimple is readying for its launch later this year. Come see its first live demo at FinovateFall in New York next month where Andera will also be showcasing its new technology. Get your FinovateFall ticket here