Blog - Page 489 of 1285

Revolut Readies for $500 Million Series D

By David Penn Posted on November 16, 2018
Categories: Funding, Revolut

Revolut, the multi-functional cross-border card and app, is planning a $500 million Series D investment round, potentially enlisting tech giants like Softbank to its roster of investors, reports Henry Vilar of Fintech Futures (Finovate's sister publication). According to City AM, the fintech has aggressive plans for expansions, with plans to launch in the U.S. after the investment round. Revolut has seen major regulatory shortcoming preventing it from starting operations there. Australia and Japan are also on Revolut’s radar. The round, set to take place early next year, would give the fintech the necessary boost to enter the U.S. market, a particularly difficult geography to crack. This comes after the firm’s last funding, which had the shocking figure of $250 million. The unicorn, which has already surpassed the $1.7 billion valuation, has grown fivefold in the past year, despite reporting annual losses. It is not known whether Revolut’s previous backers, which…

Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on November 16, 2018
Categories: Dynamics, Gusto, Hyperwallet, Kabbage, MaxMyInterest, Payfone, PayPal, SuperMoney

On Finovate.com MaxMyInterest Brings Intelligent Cash Management to Radius Bank. SuperMoney Launches Student Loan Refinancing Marketplace. Around the web Payfone recognized for growth with Deloitte's 2018 Technology Fast 500 Award. Benzinga talks with Kabbage Co-founder Kathryn Petralia. IndusInd Bank launches Dynamics-powered, interactive credit card with buttons. PayPal completes acquisition of Hyperwallet. Education technology pioneer Kinderlime selects Gusto as its exclusive payroll provider. 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.

GreatHorn Unveils Comprehensive Email Security Solution for the Enterprise

By David Penn Posted on November 15, 2018
Categories: GreatHorn

Cloud-based email security specialist GreatHorn announced a major expansion of its flagship solution, GreatHorn Email Security, transforming it into a comprehensive platform to defend institutions against email-borne threats from time of delivery to post-delivery. The new addition, GreatHorn Mailbox Protection, gives users immediate, ready access to relationship and risk data to help them when interacting with their email messages. The solution lets users know the strength of their relationship with the sender, the date of their last outbound communication with the sender, the likelihood that the sender is from the domain they say they are, and the relative risk of any embedded links within the message. Chris Fraser (VP of Strategic Accounts and Founding Team Member) and Sean Varga (Senior Account Executive) demonstrating the GreatHorn Inbound Email Security platform at FinovateFall 2017. "The security industry continues to treat users as the 'weakest link' in their security practices, rather than as intelligent, informed,…

FinovateAfrica Sneak Peek: Yoco

By David Penn Posted on November 15, 2018
Categories: FinovateAfrica 2018, FinovateAfrica 2018 Sneak Peek, Yoco

A look at the companies demoing live at FinovateAfrica on November 27 and 28, 2018 in Cape Town, South Africa. Register today and save your spot. Yoco is an African technology company that builds tools and services to help small businesses get paid, run their businesses better, and grow. Features Yoco Capital includes: Fast, simple access to a cash advance No security or collateral required One-of-a-kind payback method with no debit orders or late fees. Why it's great Yoco Capital is the simplest, fastest way to access a cash advance for your business with an effortless, one-of-a-kind payback method. Presenters Bradley Wattrus, CFO and Co-Founder Highly experienced in business strategy and venture development, Wattrus enjoys the daily challenges of the fintech industry. LinkedIn Clayton Brett, Capital Product Owner Brett has 15 years of financial industry experience in business analysis and project management. LinkedIn

FinovateAfrica Sneak Peek: OUTvest

By David Penn Posted on November 15, 2018
Categories: FinovateAfrica 2018, FinovateAfrica 2018 Sneak Peek, OUTvest

A look at the companies demoing live at FinovateAfrica on November 27 and 28, 2018 in Cape Town, South Africa. Register today and save your spot. OUTvest is a new generation wealth platform. The company has integrated wealth planning and execution and management, online or with human advisors. Features OUTvest built its own capabilities to design proprietary advice algorithms, investment exposures and user experience, and deliver it in a simple client experience. Why it's great Imagine if investing was as easy as driving a car: all the technology is there, it's just as easy to use. Presenters Grant Locke, Head of OUTvest Locke is a CFA charterholder and has worked in the investment industry for more than 15 years in the U.K. and South Africa. He is a passionate advocate that investing is a personal finance solution. LinkedIn Niel de Bruin, Head of Operations de Bruin is a CA(SA) and has…

FinovateAfrica Sneak Peek: DocFox

By David Penn Posted on November 15, 2018
Categories: DocFox, FinovateAfrica 2018, FinovateAfrica 2018 Sneak Peek

A look at the companies demoing live at FinovateAfrica on November 27 and 28, 2018 in Cape Town, South Africa. Register today and save your spot. DocFox automates compliance for the new FICA Act with document processing, client screening, risk rating, and bank account verification. Features Automate cumbersome and manual processes in compliance Breeze through regulatory audits Branch into new areas of business previously too high risk to enter Why it's great DocFox handles the compliance needs of any organization, of any size, serving all types of clients from individuals to complex offshore structures. Presenter Richard Cohen, Director and Co-Founder Cohen has been a shareholder and board member of DocFox from the inception of the company. He is a qualified economist, Chartered Accountant and a Chartered Financial Analyst. LinkedIn

Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on November 15, 2018
Categories: CardFlight, DocFox, Entrust Datacard, GreatHorn, NIIT Technologies, OUTvest, Urban FT, Yoco

On Finovate.com GreatHorn Unveils Comprehensive Email Security Solution for the Enterprise. Our latest FinovateAfrica Sneak Peeks are up: Meet DocFox OUTvest Yoco Around the web UrbanFT Co-Founder Mark Kilpatrick named to Forbes' 30 Under 30. Entrust Datacard IntelliTrust Cloud Service strengthens authentication for Microsoft Azure customers. NIIT Technologies partners with R3 to build solutions on the Corda Platform. CardFlight earns top 50 ranking in the 2018 Deloitte Fast 500 roster. 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.

MoneyHub Secures Investment from Nationwide

By Julie Muhn (@julieschicktanz) Posted on November 14, 2018
Categories: Funding, Moneyhub

Financial tools company MoneyHub announced today it received an undisclosed amount of funding from the venture arm of financial services giant Nationwide, which used a portion of its $64.5 million fund to take a minority stake in the U.K.-based fintech. Tony Prestedge, deputy chief executive at Nationwide Building Society, said, “It’s important that the Society invests for the future to ensure we remain at the forefront of innovation. Investing in start-ups like Moneyhub helps us identify, learn about, and explore new capabilities and technologies that will help deliver our technology strategy both now and in the future.” Interestingly, this isn't MoneyHub's first tie-up with the insurance industry. The company was acquired by South African insurance company MMI Holdings in 2014. Founded in 2009, MoneyHub offers direct-to-consumer, direct-to-advisor, and enterprise versions of its personal financial management technology. The company aggregates consumers' financial data onto a single platform to offer a holistic…

Lighter Capital Increases Funding Limit to $3 Million

By Julie Muhn (@julieschicktanz) Posted on November 14, 2018
Categories: Lighter Capital

Revenue-based small business financing startup Lighter Capital announced today it has increased its funding limit by 50%. The Washington-based company will now provide tech startups with up to $3 million in working capital in exchange for 2% to 8% of their business' future revenue. The $3 million cap is up from Lighter Capital's previous funding limit of $2 million. Unlike with VC funding, startups retain full ownership of their company. “As more and more tech entrepreneurs discover alternatives to equity-based venture funding, we realized the need for even more significant financial commitment,” BJ Lackland, CEO of Lighter Capital said. “The reality is, most banks won’t fund small, early-stage tech startups, and venture capitalists demand significant equity in the company. By increasing our loan amounts by 50 percent, we can ensure burgeoning tech startups can rapidly expand and get ahead of competition.” Founded in 2010, Lighter Capital has funded more than 270…

Finovate Global: Fintech News from Around the World

By David Penn Posted on November 14, 2018
Categories: Finn.ai, Finovate Global, Ondot Systems, Tinkoff Bank

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe. Middle East and Northern Africa Fintech digital crowdsourcing platform, Fintech Galaxy, honors leaders of MENA's fintech industry at its FinX - Excellence in Fintech awards. Entrepreneur magazine looks at how recent investment trends are impacting the growth of fintech in the MENA region. ADGM announces partnership with Bahrain's central bank to encourage innovation in financial services in both the UAE and Bahrain. Central and South Asia Bangladeshi sales automation and credit assessment firm ShopUp picks up $1.62 million in seed round led by Omidyar Network. Kazakhstan's Bank CentreCredit buys 111 ATMs with integrated security and monitoring technology from BS/2. TechCrunch interviews ZestMoney CEO Lizzie Chapman on the building…

Prosper Plans HELOC Product Launch in 2019

By David Penn Posted on November 14, 2018
Categories: Prosper

P2P lender Prosper announced today that it will expand its offerings next year to include a new digital Home Equity Line of Credit (HELOC) product. "We are taking advantage of our expertise in consumer credit and personal loans to build a product that removes the complexity and time-consuming barriers in applying for a HELOC," Prosper Marketplace CEO David Kimball explained. "For many of our customers, a HELOC could be a better choice for their financial needs and we're thrilled to be working with our bank partners to render the traditional process obsolete with a new digital HELOC process that is simple, fast, and painless." In a press release, Prosper cited a TransUnion study that indicated rising home values encourage homeowners to consider HELOCs as an option for financing. The study estimated that 10 million consumers would pursue HELOCs between 2018 and 2022, more than 2x the number of HELOCs taken…

Nvstr Brings Brokerage Optimized Investing to the Masses

By David Penn Posted on November 14, 2018
Categories: Finovate Debuts, Nvstr

New York-based Nvstr demonstrated its machine learning-powered stock selection platform just over a year ago at FinovateFall. By leveraging technology and the collective wisdom of the investing crowd, Nvstr offers individual investors access to the same sort of "smart processes" to discover good investment opportunities and build profitable portfolios that professional investors have long enjoyed. "Roughly half the U.S. population is invested in the stock market. But in reality, many people do not learn about investing formally. This makes it incredibly difficult to find information on investing intelligently - or to even know what to look for," Nvstr co-founder and CEO Bernard George (pictured) explained in an email conversation. "We understand that building a stock portfolio can be time consuming and intimidating, and that’s why we created Nvstr. Studies suggest that Americans are leaving $60 billion on the table each year due to poorly allocated portfolios," he said. We caught…