Payworks Teams Up with Ghana-based Payment Platform Hubtel

Payworks Teams Up with Ghana-based Payment Platform Hubtel
By David Penn Posted on
Categories: payworks

Payworks is working with Ghana’s Hubtel to enable merchants in the African nation to accept payments via their Hubtel POS app and EMV credit card reader. The two companies have been collaborating since the beginning of the year, integrating Payworks Pulse payment gateway technology to make Hubtel the first fully integrated solution available in the country.

“Hubtel’s aim is to enhance our merchants’ business by offering a platform where payments, customer engagement and loyalty can be handled through the same application,” Hubtel CEO Alex Adjei Bram said. “By partnering with Payworks, we’ve been able to offer a payment solution which has consolidated the retail experience, enabling businesses to interact with customers at their preferred touchpoints.”

Payworks Pulse enables developers to quickly and easily integrate Pulse SDKs and APIs to add card reading functionality to their POS applications. EMV certified, PCI compliant, and P2PE ready, the technology supports remote card reader updating, enabling a faster time to market. Pulse is built to scale; POS solutions can be deployed worldwide without changing the integration thanks to Pulse’s pre-certification with leading processors and acquirers in the U.S., Europe, and Africa. With Hubtel, Payworks certified with local acquirer Zenith Bank so that merchants can accept the local debit scheme gh-link, as well as Visa and Mastercard schemes.

“Supporting the Hubtel team in providing an integrated solution which meets the needs of their local merchants has been an exciting project and we look forward to our continued work in the future,” Payworks CEO and co-founder Christian Deger said. He underscored the value of providing “acquirer-agnostic technology” as a way to best tailor solutions to the specific needs of clients and “bring advanced payment technology to more Point of Sale solutions around the world.”

Payworks demonstrated its mobile POS SaaS platform at FinovateEurope 2014. Founded in 2012 and headquartered in Munich, Germany, the company has raised $19 million in funding, most recently picking up a $14.5 million investment in a round led by CommerzVentures and Visa. The company extended its partnership with Verifone back in December, and announced support for Alipay last summer.

Interested in fintech in Africa? Check out our Finovate Global post every Sunday for news on developments in financial technology around the world. And be sure to join us in South Africa this fall as Finovate makes its debut in Capetown in November.

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Expensify Seals Deal with Wells Fargo

Expensify Seals Deal with Wells Fargo
By Julie Muhn (@julieschicktanz) Posted on
Categories: Expensify

This week, expense reporting app provider Expensify debuted the launch of a deeper bank integration program called ExpensifyApproved! Banks. Wells Fargo, which serves one in three households in the U.S., will pilot the launch.

“Bank integrations have been in the Expensify DNA since day one, and the ExpensifyApproved! Banks program is the next step toward providing a consistent transaction import process for our mutual customers,” said David Barrett, founder and CEO of Expensify. “Wells Fargo has always been a great partner at the forefront of innovation, so it was a natural fit for them to be our first major partner as we launch this exciting new endeavor.”

Expensify users can connect their Wells Fargo bank cards for a smoother expense-tracking experience to help them organize receipts for tax purposes, self-employment expenses, or small business purchases. The ExpensifyApproved! Banks API allows for more secure data sharing between banks and Expensify, and offers banks more control over what data they share with the company.

The new integration offers mutual customers of Expensify and Wells Fargo a faster card setup process, the ability to seamlessly import transactions, access to historical account activity, and a detailed view of transaction data. Ben Soccorsy, Head of Digital Payments for Wells Fargo Virtual Channels said, “With API connectivity, Wells Fargo cardholders in Expensify can trust that they’re getting a smooth and efficient transaction import experience. Robust card connections that run dependably in the background are the perfect complement to fully automated expense reporting in Expensify.”

This launch comes at a time when consumers and businesses are laser-focused on how their data is collected and used. It also coincides closely with the E.U.’s implementation of PSD2, which mandates that banks must open their consumer data stores to third-party providers upon consumer consent. The ExpensifyApproved! Banks API is ahead of the curve on both of these items, and presents an opportunity for U.S. banks to mindfully and securely share consumer data.

At FinDEVr Silicon Valley 2016, Expensify presented Bedrock, an open sourced relational database management system. The company last demoed at FinovateSpring 2013, where Barrett showed off integrated invoicing technology. Earlier this year, Expensify unveiled website enhancements to improve credit card imports and simplify billing currency selections. The company was founded in 2008 and has raised $27.2 million.

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Deserve Raises $50 Million in Debt Financing

Deserve Raises $50 Million in Debt Financing
By David Penn Posted on
Categories: Deserve, Funding

 

In rebranding his company from SelfScore to Deserve, CEO Kalpesh Kapadia explained “we believe that access is everything and everyone deserves a chance to build a positive credit history. So we are making our products available to all students, U.S., and international, and to all those who seek to build and/or maintain a good credit history.”

And now Deserve is $50 million closer to serving this broader population of potential customers. The Accel-backed fintech has just secured a $50 million debt facility from Keystone National Group to drive growth in account receivables and help “jumpstart” first-time credit owners’ financial journeys.

“Since launching the Deserve brand in October of 2017 and addressing the needs of young people who are new to credit, we’ve seen a huge response from young adults and college students across the nation,” Kapadia said. He added that the new credit facility from Keystone National Group will help his company “bring deserving consumers to the credit system who are often overlooked by the traditional approach and allow them to pave their path of financial independence.”

Making their Finovate debut as SelfScore at FinovateFall 2014, the consumer analytics company leverages machine learning and alternative data to offer a solution that the company says provides a better measure of creditworthiness than FICO scores. As Deserve, the company’s “credit scoring as a service” platform uses online profiles, phone and sensor data, psychometric questions and what the company calls “360 degree feedback” from the user’s network to give users insights and contextual information to businesses.

Deserve uses this technology in part to help millennials and Generation Z consumers establish and build credit, and earn rewards. Deserve offers consumers three Mastercard-branded credit card options:

  • Deserve Edu: Geared toward college students, Deserve Edu provides 1% cash back, a $5,000 credit limit, a 20.24% variable APR, and no annual fee.
  • Deserve Pro:  Designed for applicants with established credit histories, Deserve Pro offers 3% cash back on travel and entertainment, 2% cash back on restaurants, and 1% cash back on purchases. Deserve Pro Mastercard also provides a credit limit up to $10,000 and a variable APR as low as 17.49%. The card is available to L1 and H1B visa holders, and has no annual fee.
  • Deserve Classic: Designed for applicants looking to build credit, Deserve Classic has a credit limit of $1,500, a variable APR of 24.99%, and a $39 annual fee.

The debt financing announcement from Deserve is the latest big headline from the company since it rebranded as Deserve last fall and announced $12 million in new funding. With total equity financing of $27 million, the company includes Aspect Ventures, Pelion Ventures, Mission Holdings, Alumni Venture Group, GDP Venture, and Accel among its investors. Headquartered in Menlo Park, California, Deserve was founded as SelfScore in 2013.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Deserve, Expensify, Fiserv, Horizn, InComm, Outsystems, payworks, ti&m, TransferWise, Wealthify

On Finovate.com

  • Deserve Raises $50 Million in Debt Financing.
  • Payworks Teams Up with Ghana-based Payment Platform Hubtel.

Around the web

  • Wealthify added to Starling’s in-app marketplace.
  • InComm plans $20 million expansion in Georgia, will add more than 150 jobs.
  • Fiserv launches FinKit for Open Banking to help banks keep up with rapidly unfolding regulations.
  • Horizn helps RBC win a Celent Model Bank 2018 award for Employee Productivity.
  • OutSystems to power digital transformation for Principality.
  • TransferWise introduces its multi-country bank account.

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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It’s Easy As Three-Ts: the Way to Fintech Success

It’s Easy As Three-Ts: the Way to Fintech Success
By Sophie Cater Posted on
Categories: Uncategorized

“There is no right or wrong answer,” says Chrystina (Tina) M. Giorgio, president and CEO of ICBA Bancard about how banks can work best with fintechs. Ahead of her session at FinovateSpring 2018, Giorgio gives banks some best practice tips from the perspective of someone who has worked as a banker, board member, and innovator.

As community banks look to blend the strength of their operations with fintech innovations, bankers are questioning how to best work with fintechs and their core system providers to bring new products and services to market.

To navigate this terrain, bankers should first prioritize fintech opportunities that complement their banks’ strategic plans. Opportunities could include real-time payments, digital delivery, data analytics and artificial intelligence. They should then share these priorities with their core processors. Due to the present lack of an open banking standard in the United States, a community bank’s core processing system remains a top infrastructure element, and as such, can significantly influence software decisions. Most core processors are already working with or investing in fintech. However, open and ongoing dialogue can help guide core vendors’ investment choices.

There are three primary models banks can follow when choosing how to develop a fintech project that each come with its own risks and rewards:

  • Banks can build a proprietary solution in-house.
  • Banks can collaborate with a third-party to build a solution.
  • Banks can purchase a fintech solution.

There is no right or wrong answer. Ultimately, the “three T’s”-time, treasure and talent should drive the decision. When working with a fintech company, banks will want to follow the process they would for any new vendor and should be sure to look at additional risk factors that pertain specifically to the solution they are acquiring. For example, depending on the solution, more thorough review may be required to properly assess fraud risk, data encryption standards, and KYC (know your customer – the process used to identify and verify customers). More general questions to ask include how long the fintech has been in business, whether it is connected to your core, how much capital it has, who is investing in it, and who its customers are.

Banks will also want to do their diligence to assess whether the vendor can meet regulatory expectations. Fintechs are not regulated like FIs, so bankers should thoroughly evaluate the vendor and the solution for regulatory compliance. Ultimately, balancing fintech utilization against the risks to consumers is the responsibility of the bank. It is vital to put compliance and regulatory issues at the forefront of any fintech deployment, whether the bank builds, collaborates or buys the solution.

ICBA released its Fintech Strategy Roadmap for community banks as they increasingly work in partnership with fintech firms to deliver services to their customers. The roadmap, written in collaboration with Hunton & Williams LLP, offers a look at how community banks can successfully create, collaborate, or invest in fintech partnerships while providing necessary considerations to ensure these strategic decisions fit within regulatory risk parameters.

The Fintech Strategy Roadmap is available exclusively to ICBA members and is the first community bank resource that takes a deep dive into the legal and compliance elements associated with fintech partnerships.

Join Chrystina Giorgio at FinovateSpring 2018, May 8 through 11, 2018 at the Santa Clara Convention Center in California. Find out more >>

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Unison Sees 1,000% YoY Growth in Originations

Unison Sees 1,000% YoY Growth in Originations
By Julie Muhn (@julieschicktanz) Posted on
Categories: Unison

Home ownership investing company Unison released impressive growth stats this week, announcing that its first quarter origination volume has grown by 1,000% compared to the first quarter of 2017.

On top of that, the San Francisco-based company launched in 10 additional U.S. states this week, making it available in 22 states and Washington, D.C. And Unison isn’t stopping there. By the end of 2018, the company plans to offer its services to more than 70% of single family households in the U.S.

“Our marketing, partner and support initiatives played a critical role in strengthening the results in the first quarter,” said Bill Walker, chief revenue officer at Unison. “We saw our customer base expand across all regions, particularly in the latter half of the first quarter and are looking forward to building on this positive momentum throughout the rest of the year.”

To help drive future growth, Unison appointed Cari Jacobs (pictured) as the company’s Chief Marketing Officer. Jacobs most recently served as VP of integrated marketing at ModCloth and has previously driven marketing objectives at well-known brands such as Toyota, Lexus, Procter & Gamble, Intuit, General Mills, Levi’s, Coca-Cola and Prudential Real Estate. The company also appointed Quintin Gomez as the director and head of engineering.

“2017 was a transformative year for Unison as we saw increased demand and awareness of home ownership investments as a solution for home financing,” said Thomas Sponholtz, chairman and CEO of Unison. “We will continue to expand our geographic presence, strike strategic partnerships in and out of the financial services industry and deliver programs to our customers that will liberate them from debt-only options.”

Founded in 2004, Unison most recently demoed its two flagship products at FinovateFall 2017. The first is Unison HomeBuyer, which provides a percentage of the down payment needed to purchase a home in exchange for a percentage of the home’s equity upon selling. The second product is Unison HomeOwner, which allows homeowners to use some of the equity in their home without interest or monthly payments. The company also showcased at FinovateSpring 2017, where it won Best of Show. Most recently, Unison teamed with Valley National Bank to launch a five percent down payment program in conjunction with an 80% LTV mortgage.

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SecuredTouch Receives $8 Million Strategic Investment from Arvato Financial Solutions

SecuredTouch Receives $8 Million Strategic Investment from Arvato Financial Solutions
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, SecuredTouch

Israeli behavioral biometrics startup SecuredTouch gained backing from Arvato Financial Solutions this week. The $8 million investment was strategic, and brings the company’s total funding to $11.5 million.

Robert Holm, Senior Vice President of Fraud Management at Arvato said, “Investing in SecuredTouch allows us to partner with a global leader in behavioral biometrics for mobile devices, and to reinforce our online security and fraud prevention services in the best possible manner.” The firm’s President of Risk Management Frank Schlein said that protection against cybercrime is “essential,” and added, “I am really pleased that our involvement with SecuredTouch will enable us to enhance and expand this platform further.”

On the strategic side, SecuredTouch will benefit from Aravato’s established relationships with international players across various industries. Yair Finzi, CEO and founder of SecuredTouch, said, “We see a clear synergy between the offerings and strategies of Arvato Financial Solutions and SecuredTouch. We have created a partnership that will enable SecuredTouch to expand its international presence and enhance its positioning in the areas of fraud and authentication. Arvato Financial Solutions with its international expertise in risk and fraud management is an ideal investor and partner for this purpose.”

SecuredTouch was founded in 2015 and specializes in behavioral biometrics for mobile transactions. As Finzi explained, the company ensures that “legitimate transactions are recognized quickly as such and can be conducted smoothly. The aim is to ensure a secure, fast, and convenient customer experience in mobile transactions, on a sustained basis.” The company maintains a foothold in the security space by leveraging more than 100 parameters to continuously authenticate users in a session without friction. SecuredTouch’s technology is able to differentiate between human and non-human behavior to catch and block would-be fraudsters.

SecuredTouch demoed U-nique, a behavioral biometrics technology that leverages machine learning, at FinovateEurope last month in London. The company also offers U-manobot, malware detection technology; and Continew-ID, a device takeover prevention technology. SecuredTouch’s other investors include Rafael Development Corporation, Eshbol Ventures, and Wellborn Ventures.

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Meet the Keynotes

Meet the Keynotes
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2018

We’re just two weeks away from what is shaping up to be spring’s blockbuster fintech event. FinovateSpring is coming to Santa Clara, California on May 8 through 11.

On the blog, we started off our coverage of the upcoming event with our Sneak Peek series and took an in-depth look at some of the topics that will be considered as a part of the discussion days. Today, we’re unveiling the keynotes. Here are the speakers that will take the stage on days three and four of the event to offer up insight on the blockchain and voice technology:

Bettina Warburg

How Blockchain will revolutionise the industry

Warburg is a thought-leader in the emerging blockchain space and leads the blockchain practice at Animal Ventures, including research, development, and commercialization across the ecosystem of blockchain innovation.

Warburg is passionate about the convergence of technology and politics and the impact it will have on our future. She is the Executive Producer of a new tech show called Tech on Politics, interviewing some of the greatest minds in technology, media, venture capital, and government about the convergence of technology and politics. As a Public Foresight Strategist at the Institute for the Future, a Silicon Valley think tank, Warburg brought a futures lens to a variety of strategic initiatives with top corporations, foundations, education institutions, and city governments.

In 2016, Warburg was invited by TED to be one the first speakers ever to unpack the topic of blockchain to a global audience. She has given talks and curated conferences such as Skoll World Forum, Salzburg Global Seminar, City Innovate Summit, Personal Democracy Forum, and at numerous universities. Warburg’s work has been cited in publications such as The Atlantic, Center for Public Impact, ICMA.org, and the San Francisco Chronicle.

Adam Cheyer

The rise of Natural Language Processing (NLP), smart speakers (Alexa), and a future with far less screen time

Cheyer is co-founder and VP of Engineering of Viv Labs, a startup whose goal is to simplify the world by providing an intelligent interface to everything. In October 2016, Viv was acquired by Samsung. Previously, Cheyer was co-founder and VP of Engineering at Siri, Inc. When Siri was acquired by Apple in 2010, he became a Director of Engineering in the iPhone/iOS group.

Cheyer is also a Founding Member and Advisor to Change.org (180 million people taking action, victories every day), and a co-founder of Sentient.ai (solving the world’s hardest problems through massively-scaled machine learning). As a researcher, Cheyer authored 60 publications and 25 issued patents. At SRI International, he was Chief Architect of CALO, one of DARPA’s largest AI and machine learning projects. Cheyer graduated with highest honors from Brandeis University and received the “Outstanding Masters Student” from UCLA’s School of Engineering.

We’ll see you on May 8 through 11 at the Santa Clara Convention Center in Santa Clara, California. If you haven’t saved your spot, register today. And don’t hesitate to contact us with any enquiries or customer service needs.

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Finovate Alumni News

By David Penn Posted on
Categories: Avaloq, Backbase, Finastra, IdentityMind Global, Insuritas, On Deck Capital, PayPal, Persado, Q2, SecuredTouch, Unison

On Finovate.com

  • SecuredTouch Receives $8 Million Strategic Investment from Arvato Financial Solutions.
  • Unison Sees 1,000% YoY Growth in Originations.

Around the web

  • IdentityMind Global partners with Etherparty Smart Contracts to provide KYC and AML compliance support. See IdentityMind Global at FinovateSpring next month.
  • Intesa Sanpaolo Private Banking Suisse to deploy Business Process as a Service (BPaaS) solution from Avaloq.
  • Finastra goes live with its blockchain-based syndicated lending market solution, Fusion LenderComm.
  • Forbes interviews Andrea Gellert, CMO of OnDeck.
  • Ebay And PayPal finalize new payments agreement.
  • Listrak and Persado announce strategic integration.
  • Q2 and StoneCastle partner with MoneyLion to offer deposit accounts and debit cards.
  • EverTrust Bank hires Insuritas to launch digitally powered insurance agency.
  • Backbase powering SSF Bank’s new mobile banking application.

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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Meniga Receives $3.7 Million to Fuel International Rollout

Meniga Receives $3.7 Million to Fuel International Rollout
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Meniga

Digital banking and marketing startup Meniga announced it received a $3.7 million (€3 million) investment from Nordic bank Swedbank. This brings the company’s total funding to $27.1 million since it was founded in 2009.

Swedbank’s investment comes after the bank agreed to launch Meniga’s digital banking solutions for its customers in Sweden and in the Baltic countries. Swedbank has more than 7 million retail customers and 625,000 corporate customers. The bank has 218 branches in Sweden and 133 branches across Baltic countries.

Lotta Lovén, head of digital banking at Swedbank, said that the banks’ customers not only prefer a digital experience, but also want relevant offers and services to make life easier. “We see Meniga as an innovation partner to give our customers a digital experience that includes a better overview and insights of all their finances both from Swedbank and external parties. We are very pleased with the agreed partnership,”Lovén added.

Headquartered in London and with offices also in Reykjavik, Stockholm, and Warsaw, Meniga offers white-label digital banking solutions for 50 million digital banking users in 23 countries for banks such as Santander, Intesa, ING Direct, Commerzbank and mBank. At FinovateEurope earlier this year, the company won Best of Show for Richest Transactions, a solution that helps banks leverage data associated with transactions.

This month, the company’s CEO Georg Ludviksson was selected as one of top 200 Fintech leaders in Europe. In February, the company announced a partnership with France’s second largest banking group, BPCE.

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HooYu Brings KYC, Enhanced Customer Onboarding to Gold-as-Currency Enabler Glint

HooYu Brings KYC, Enhanced Customer Onboarding to Gold-as-Currency Enabler Glint
By David Penn Posted on
Categories: HooYu

Even in an age of cryptocurrencies, the appeal of of gold as an investment remains strong. This makes it all the more interesting to learn today that a fintech company has partnered with identity confirmation specialist HooYu to make it easier and safer for investors to buy and sell the yellow metal.

Specifically, HooYu has partnered with U.K.-based fintech Glint to provide customer identity verification during the account opening process. Glint offers a mobile app that enables users to load money into their account and convert it to gold. Users can then use their Glint Mastercard to make purchases using gold as their currency. Glint will use HooYu’s technology during the account opening process to meet AML and KYC requirements and ensure customers are who they say they are.

“It was important to us to design the account opening process to make it as easy as possible to open,” Glint co-founder Ben Davies explained, “we also needed a solution that would enable us to approve the customers who had pre-registered in a simple way.” HooYu has helped us get to launch and create a great digital journey that makes for easy and convenient account opening, whilst also complying with Anti Money Laundering regulations and preventing fraud.”

HooYu’s identity verification process is straightforward to use. The company sends the person to be verified an email or text message requesting identity information. The person uploads their information – online credentials, an official identity document, a selfie – and the HooYu Identity Engine analyzes the information submitted, cross-checking hundreds of data points to confirm the person’s identity. The platform is unique in the way it combines both modern identity technologies like digital footprint analysis and facial biometrics with more traditional protocols like database checks and PEPS and sanctions screening.

HooYu’s verification process takes only a few minutes. The company sends an email as soon as the verification is complete, and provides an ID report that can be reviewed on the HooYu dashboard. HooYu only shares or stores information that the user authorizes to provide to the requester. And once the verification process is finished, HooYu deletes all document images and social data from its platform.

Founded in 2016, HooYu demonstrated its verification technology at FinovateEurope 2018. Earlier this month, the company announced that it was working with Atos to improve its customer onboarding and due diligence for financial services clients. Atos also added the company to its global fintech partner program as a provider of global identity verification technology. Last month, HooYu teamed up with HouseSitMatch to verify the identity of house- and petsitters. And in December, the company partnered with Countingup to enhance the challenger bank’s account opening process.

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Modo Payments Wins Top Prize at ETA TRANSACT Payments Pitch-Off

Modo Payments Wins Top Prize at ETA TRANSACT Payments Pitch-Off
By David Penn Posted on
Categories: Modo Payments

Payments interoperability innovator Modo took home top honors at the Payments Pitch-Off sponsored by fellow Finovate alum Worldpay. The Texas-based company, which demonstrated its Digital Payments Hub at FinovateFall 2016, made their winning case before a judging panel of venture capitalist and payments industry executives, besting nine other participants.

“We couldn’t smile big enough to truly express our excitement,” Modo tweeted, announcing the news. “But trust us we are so excited to win the #ETATRANSACT PitchOff.”

At the event, Modo showed how a merchant could use Modo’s technology to add and remove PSPs into their systems with the “simple click of a button.” Modo provides a cloud-based payments utility that enables interoperability between banks, networks, payments processors, and their partners. Its one-to-many interface takes the friction out of payments by delivering any source of value (traditional or non-traditional) to any destination and back again without requiring any changes to the client’s infrastructure. Modo’s partners include Bank of America Merrill Lynch, Alliance Data, and Verifone, as well as fellow Finovate alums FIS and Klarna.

“The Payments Pitch-Off at TRANSACT gives innovative startups the keynote stage to show off their products and services to the industry’s preeminent leaders at the world’s largest payments industry event,” ETA CEO Jason Oxman said. The Payments Pitch-off is part of the TRANSACT conference held by the Electronic Transactions Association (ETA). As the pitch-off winner, Modo picked up a $30,000 cash prize. A $5,000 cash prize for the “audience favorite” was awarded to Menusifu’s Restaurant Go app, a contactless payment solution for diners.

Fellow Finovate alum Sezzle also participated in the competition. Additionally, the event featured its 2018 Star Awards which honored individuals who had “made a significant difference in the payments industry through innovation, business practices, or contributions to the association.” These included representatives from Finovate alums including TSYS, Mastercard, and FIS.

PYMNTS.com interviewed company CEO Bruce Parker about payments in the cloud last month. Modo ended 2017 by adding former CEO of Klarna North America Brian Billingsley as Chief Revenue Officer. The company participated in our developers conference, FinDEVr New York, in 2016, discussing how its Digital Payments Hub can be used to design and manage the complete digital payment transaction lifecycle. Later that year, Modo demonstrated the four components of its technology: Payments System Connectors, Payments Transactions, Credentials Vault, and Digital Experiences at FinovateFall 2016.

Founded in 2010, Modo has raised more than $11 million in funding. The company’s investors include Tim Keith, CEO of Central Texas Partners; John Beletic, partner at Oak Investment Partners; and Jay Kassing, owner of fintech company Marquis.

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