HackerOne Cracks into $36.4 Million in Funding

HackerOne Cracks into $36.4 Million in Funding
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, HackerOne

Bug bounty and vulnerability disclosure platform HackerOne announced a funding round this week that boosts its capital up to $110 million. The oversubscribed Series D round, which totaled $36.4 million, saw contributions from Benchmark, New Enterprise Associates, Dragoneer Investment Group, EQT Ventures, and others.

HackerOne will use today’s round to expand global market reach, scale its offerings, and continue to strengthen its hacker community.

The California-based company offers a platform that recruits security researchers and white hat hackers to identify security weaknesses for its more than 1,500 clients, including Twitter, Airbnb, Uber, Yelp, and the U.S. Department of Defense. Government bug bounty programs, in fact, have increased more than 2x in the last 12 months alone, during which time customers have resolved more than 30,500 security vulnerabilities.

Since it was founded in 2012, the hackers on HackerOne’s platform have found over 120,000 vulnerabilities and have been awarded over $51 million in bug bounties. With the average bounty paid for critical vulnerabilities now totaling almost $3,400, some hackers are able to make a career out of discovering bugs on HackerOne’s platform. And while it’s not explicitly in the business of making millionaires, the company has helped six hackers earn more than $1 million each by finding vulnerabilities.

David Obrand, partner at Valor Equity Partners, will join HackerOne’s Board of Directors. “HackerOne is leading a new wave of cybersecurity companies tackling the unique challenges brought on by rapid growth and more sophisticated attack surfaces,” said Obrand. “Hacker-powered security is here to stay and with its tremendous customer and hacker community, HackerOne is dominating the market. I am thrilled to be joining the Board of Directors and being a part of the next stage of growth and innovation.”

HackerOne has offices in London, New York, Singapore, and the Netherlands. In 2017, the company earned the Favorite FinDEVr Debut award for its presentation at FinDEVr New York and won the Crowd Favorite award at its FinDEVr London presentation. Mårten Mickos is CEO.

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Winners Circle: Finovate Honors Fintech’s Finest with New Awards Series

Winners Circle: Finovate Honors Fintech’s Finest with New Awards Series
By David Penn Posted on
Categories: Finovate Awards, FinovateFall 2019

A new initiative now makes Finovate’s historic Best of Show awards just one of two ways that our conferences recognize exceptional achievement in fintech innovation.

The Finovate Awards, launched this year, leveraged the insights of fintech experts, analysts, and professionals, to produce what we believe is a true winners circle of our industry’s most impressive and accomplished companies and individuals.

Check out our list of Finovate Awards finalists.

“Finovate has always been a place where innovative fintech companies come to showcase their latest tech, but that tech alone isn’t enough to drive advancement,” said Greg Palmer, Finovate VP and one of the primary organizers of the inaugural Finovate Awards.

“It also takes hard work from financial institutions, accelerators, marketers, and a host of other professionals to bring something from the workshop into the market. We established the Finovate Awards to recognize the important work being done by the entire industry and to celebrate the companies and individuals who are leaders in the space.”

The judges of the first inaugural Finovate Awards

Much of the credit toward making the Finovate Awards possible goes to our cast of judges (pictured above) – a baker’s dozen plus one of some of fintech’s most astute and discerning analysts and observers. It was their task to sift through 192 nominations in 19 different categories to find which companies and individuals were making the biggest mark in their respective field.

“Judging was a tough gig,” tweeted Ghela Boskovich, founder of FemTechGlobal and one of the 14 judges of the Finovate Awards this year. “(A) great list of finalists.”

There are just two weeks to go before our Finovate Awards finalists learn which of them will take home top honors in categories ranging from digital banking and customer experience to financial inclusion and regtech. Here’s the order in which the Finovate Awards will be presented at the Edison Ballroom on September 24:

  1. Best Digital Bank
  2. Best Fintech Partnership
  3. Best Back-Office/Core Service Provider
  4. Best SMB/SME Banking Solution
  5. Best Customer Experience
  6. Best Consumer Lending Platform
  7. Best Digital Mortgage Platform
  8. Best Alternative Investments Platform
  9. Best ID Management Solution
  10. Best RegTech Solution
  11. Excellence in Financial Inclusion
  12. Best Use of AI/ML
  13. Best Use of Blockchain
  14. Best Accelerator/Incubator
  15. Top Emerging Tech Company
  16. Influencer of the year
  17. Woman of the year
  18. Executive of the year
  19. Innovator of the year

Tickets for the Finovate Awards are still available. To reserve your table and join us in New York at the Edison Ballroom on Tuesday, September 24th, visit our Finovate Awards page today!

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Finovate Alumni News

By David Penn Posted on
Categories: Arival Bank, Blackhawk Network, Capsilon, Currency Cloud, Dwolla, Fenergo, HackerOne, Lendio, Luxoft, Meniga, Nomis Solutions, Segmint, ThetaRay, WePay

On Finovate.com

  • HackerOne Cracks into $36.4 Million in Funding.
  • Arival Bank Nets $2.3 Million in Equity Crowdfunding Campaign.
  • Winners Circle: Finovate Honors Fintech’s Finest with New Awards Series.

Around the web

  • Cinchy voted “Top Pick” for TechCrunch Disrupt SF 2019 and selected as a CIX Top 20 company for 2019. Check out Cinchy’s upcoming demo at FinovateFall later this month!
  • ThetaRay unveils new office in Mexico City.
  • Epcor partners with data-driven solution provider Segmint to help FIs better leverage payment data.
  • Dwolla teams up with Currencycloud to make international payments easier for businesses.
  • Luxoft to collaborate with Fenergo as part of the company’s Global Platinum Partner program.
  • Meniga helps Grupo Crédito Agrícola launch its new banking app, moey!.
  • Nomis Solutions expands presence in the Midwest with the opening of a Center of Excellence in Cleveland, Ohio.
  • WePay launches same-day deposits to Chase bank accounts for free.
  • Blackhawk Network appoints Harel Kodesh as chief technology officer.
  • Lendio Southwest Michigan franchise opens to offer funding to local businesses.

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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Terafina Teams Up with Alabama’s Listerhill Credit Union

Terafina Teams Up with Alabama’s Listerhill Credit Union
By David Penn Posted on
Categories: Terafina

Turns out that President Trump isn’t the only one with Alabama on his mind these days. Cloud-based omnichannel sales solution provider Terafina announced this week that it is teaming up with Alabama-based Listerhill CU to power the 90,000+ member FI’s sales strategy as it continues its digital transformation.

“Terafina’s partnership allows us to deepen our existing member relationships and develop new ones, while also helping us to be proactive in meeting our members’ diverse financial needs,” Listerhill CEO Brad Green said. “Moreover, as we continue to expand our reach into new markets, we are excited about this partnership helping us meet and exceed our growth objectives for 2020 and beyond.”

With more than $841 million in assets, Listerhill Credit Union has embarked upon an effort to boost member engagement with a new, omnichannel experience. The goal is to make it easier for members to learn about, choose, and deploy new products and services to meet their financial needs. Named one of America’s Best Credit Unions in Alabama by Forbes and market research company Statista, Listerhill Credit Union was founded in 1952 and serves members in 13 counties in northwestern Alabama and Tennessee.

“Our entire team is delighted to help Listerhill grow organically and provide top notch services to its membership,” Terafina CEO Meheriar Hasan said. “We believe in the great value that Listerhill provides its communities and feel privileged to be a part of its rising story.”

Terafina demonstrated its omnichannel sales platform at FinovateSpring 2019. The technology delivers a seamless experience that aligns branches, call centers, and digital channels to help banks and credit unions improve customer engagement and increase sales. The company notes that its platform is core-agnostic and that it has built more than 30 connectors to core banking, loan origination, KYC, and CRM systems, as well as to data aggregation and data prefill providers.

Earlier this year, Terafina announced that it was partnering with PlainsCapital Bank to help the Texas-based institution fast track small business onboarding. PlainsCapital Bank is the fifth largest bank in Texas with $9.7 billion in total assets. In April, Terafina teamed up with Washington state’s Gesa Credit Union ($2+ billion in assets and more than 150,000 members), and in March, the company announced its collaboration with Silicon Valley-area credit union KeyPoint CU ($1.3 billion in assets; 63,000 members).

Founded in 2014, Terafina is headquartered in Fremont, California.

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BNP Paribas to Deploy Dynamic Hedging Tech from Kantox

BNP Paribas to Deploy Dynamic Hedging Tech from Kantox
By David Penn Posted on
Categories: Kantox

BNP Paribas has formed a partnership with Kantox, a fintech firm specializing in FX risk management solutions, reports Sharon Kimathi of Fintech Futures (Finovate’s sister publication).

The agreement enables BNP Paribas and Kantox to jointly offer Kantox’s Dynamic Hedging solution to BNP Paribas’ clients across EMEA.

Dynamic Hedging is a software solution developed by Kantox, which allows corporate treasurers to fully automate and streamline FX workflows. The solution will complement the product suite available on Centric, BNP Paribas’ leading digital banking platform.

Philippe Gelis, CEO and co-founder at Kantox, said: “We believe that our offering, combined with the financial strength of BNP Paribas as a banking partner, is an attractive value proposition for their existing corporate client base.”

Xavier Gallant, co-head of corporate rates, FX and local markets sales EMEA at BNP Paribas, said: “When it comes to managing foreign currency risk, we are seeing a real need for our corporate clients to improve efficiency in forecasting their future cash flows, formalizing hedging practices and optimizing execution through automation. BNP Paribas’ partnership with Kantox will offer corporate treasurers in EMEA the opportunity to access a fully automated hedging solution and ultimately improve their treasury processes. We look forward to a successful partnership.”

Kantox demonstrated its Peer FX, its peer-to-peer foreign exchange platform, at FinovateEurope 2013. The technology cuts out the middle man – the brokers and the banks – in the process by directly connecting two parties in an FX exchange. Earlier this year, the company announced that it had raised $5.7 million in a debt financing round.

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FinovateFall Sneak Peek: Noonum

FinovateFall Sneak Peek: Noonum
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2019, FinovateFall 2019 Sneak Peek, Noonum

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

Noonum solves information overload by summarizing and contextualizing unstructured data, powered by the connected intelligence of a continually evolving semantic knowledge graph generated using artificial intelligence and natural language processing.

Features

  • News intelligence and concept exposure
  • Value chain
  • Bring your own data

Why it’s great
Get ambient and hidden intelligence to know what you don’t know. Combine external insights with internal data with bring your own data. Complete business and market research faster.

Presenters

Shankar Vaidyanathan
Vaidyanathan has more than 20 years of experience at Microsoft as an engineering leader driving the success of cloud, data, and machine learning products. He holds more than a dozen patents.
LinkedIn

Darian Parrish
Parrish has a background in engineering and an MBA in finance. Most recently he ran a systematic hedge fund. He enjoys working for agile startups and solving challenging problems for customers.
LinkedIn

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FinovateFall Sneak Peek: Finzly

FinovateFall Sneak Peek: Finzly
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2019, FinovateFall 2019 Sneak Peek, Finzly

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

Finzly (formerly SwapsTech) is focused on enabling digital banking transformation for banks of all sizes. The company is dedicated to freeing banks from the limitations of their core systems and vendors.

Features

  • Open, hyper-scalable, flexible bank operating system
  • App store ecosystem with a range of valuable banking applications on a single platform
  • Modern, omni-channel digital user experience

Why it’s great
Finzly BankOS makes it easy for banks to modernize their customer offerings and take advantage of the latest cutting edge technology with open, API-driven, digital online banking.

Presenters

Brian Anderson, Vice President, Sales and Marketing
Anderson has over 25 years of experience helping financial institutions discover, implement, and profit from the latest in fintech.
LinkedIn

Terry Howell, Chief Technology Officer
Howell is a technology leader with 20 years of experience guiding brilliant engineering teams to deliver innovative, valuable solutions to customers.
LinkedIn

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FinovateFall Sneak Peek: BreachRx

FinovateFall Sneak Peek: BreachRx
By Julie Muhn (@julieschicktanz) Posted on
Categories: BreachRX, FinovateFall 2019, FinovateFall 2019 Sneak Peek

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

BreachRx’s platform provides automation across the enterprise, enabling organizations to respond to cyber incidents efficiently and in compliance with relevant regulations, policies, and contracts.

Features

  • Incident response that is automatically tailored and up-to-date
  • One platform for all business silos that are responsible for incident response
  • One system of record for audit and regulators

Why it’s great
BreachRx will change data breach response from a crisis to a routine business process.

Presenter

Andy Lunsford, CEO
Lunsford is a privacy law expert with a decade of experience in large-scale commercial litigation. He first began working on data security issues when his firm represented ChoicePoint in 2004.
LinkedIn

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FinovateFall Sneak Peek: Kindur

FinovateFall Sneak Peek: Kindur
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2019, FinovateFall 2019 Sneak Peek, Kindur

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

In a complex, post-pension world, Kindur’s signature retirement paycheck helps modern retirees simplify managing retirement income and helps make their savings last longer.

Features

  • Analyze customers’ financial pictures
  • Use proprietary technology to build a personalized retirement paycheck
  • Sequence retirement income withdrawals to lower taxes

Why it’s great
Based on your retirement needs and goals, Kindur builds you a retirement paycheck- the ultimate simplification of managing retirement income- so your savings last longer.

Presenter

Rhian Horgan, CEO
Horgan is the CEO of Kindur and a financial industry veteran. She is on a mission to eliminate modern retirees’ number one fear– running out of money.
LinkedIn

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FinovateFall Sneak Peek: Meniga

FinovateFall Sneak Peek: Meniga
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2019, FinovateFall 2019 Sneak Peek, Meniga

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

Meniga is a global leader in digital banking solutions working with some of the largest banks in the world to improve customer engagement and develop new business models.

Features

  • SaaS banking data consolidation, enrichment, and categorization
  • Personalized rewards and offers for banking customers
  • Social responsibility by helping the planet

Why it’s great
Banking data can help save the planet.

Presenters

Ólafur Óskar Egilsson, VP of Product
Egilsson has been instrumental in leading Meniga’s product team for three years. He has extensive experience in working in fintech and banking.
LinkedIn

Isabel Moratiel, Business Development Manager
Moratiel has experience in diverse areas of fintech, SME lending, international credit scoring, and digital banking. She has been at Meniga for over three years working in business development.
LinkedIn

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FinovateFall Sneak Peek: Owl.co

FinovateFall Sneak Peek: Owl.co
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2019, FinovateFall 2019 Sneak Peek, owl.co

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

Owl.co is a customer insight engine bringing external attributes for better decision making. In just one year, Owl is working with 10 of the largest financial institutions in North America.

Features

  • Derives customer insight from thousands of databases in real time
  • Takes a fully modular approach to fit within enterprise processes
  • Surpasses regulation requirements with end-to-end encryption

Why it’s great
Owl.co offers enhanced personalized onboarding, enhanced customer due diligence, and fraud detection. All of this is available on a zero-knowledge platform where nobody but the intended party can see the data.

Presenter
Vahid Mirjalili, Co-founder and COO
Formerly at BCG, Mirjalili led a multi-million dollar digital transformation of financial institutions in Canada and the U.S.
LinkedIn

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FinovateFall Sneak Peek: VeriTran

FinovateFall Sneak Peek: VeriTran
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateFall 2019, FinovateFall 2019 Sneak Peek, VeriTran

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

VeriTran’s Low-Code Platform streamlines the creation, development ,and roll-out of digital business applications in record time with a visual and intuitive model and drag-and-drop interface. Creating an app with its Low-Code Platform is simple and does not require technical expertise in programming, security, graphic design, or UX to put world-class apps at an end user’s fingertips.

Why it’s great
Clients can execute in months what often takes years. A project that takes upwards of twenty-four months can be created with VeriTran in just six months.

Omar Arab, VP Corporate Business Development – U.S. Market
Arab combines advisory, creative, and technological capabilities with an innovation culture and specialist knowledge of the financial sector.
LinkedIn

Greynier Fuentes, Solutions Manager
Fuentes has 15 plus years of achievement leading areas of solutions development for financial services. He is entrepreneurial and innovative by nature.
LinkedIn

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