H2 Ventures and KPMG Unveil 2016 Fintech 100

H2 Ventures and KPMG Unveil 2016 Fintech 100
By David Penn Posted on
Categories: Azimo, Coinbase, Credit Karma, Feedzai, Finova Financial, identitii, itBit, Kabbage, Klarna, Kreditech, Lending Club, LendUp, Motif Investing, North Side, Nubank, On Deck Capital, Overbond, Payoneer, Prosper, Rippleshot, SecureKey, SocietyOne, Tink, TipRanks, Wealthfront, Xero, Zooz

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H2 Ventures and KPMG have released their Fintech 100 roster for 2016. Divided equally between 50 “industry leaders” and 50 “emerging stars,” the roster features 17 Finovate/FinDEVr alums in the first category, and 10 in the second. Calling its roster a “celebration” of the most compelling innovators in this “bold new space,” the H2 Ventures/KPMG 2016 Fintech 100 covers a variety of different shades of fintech:

  • Lending (32 companies)
  • Payments (18 companies)
  • Insurance (12 companies)
  • RegTech (9 companies)
  • Data & analytics (7 companies)
  • Wealth management (6 companies)
  • Blockchain (5 companies)
  • Digital currency (5 companies)
  • Capital markets (3 companies)
  • Crowdfunding (2 companies)
  • Accounting (1 company)

And here is a look at how Finovate/FinDEVr alums fared. Earning recognition among the companies in the Leading 50 group are:

Also noteworthy in the Leading 50 are Ant Financial, which acquired Best of Show-winning EyeVerify in September 2016, and Avant, which acquired Finovate alum ReadyForZero in the spring of 2015.

Additionally, Finovate/FinDEVr alums earning spots in the Fintech 100’s 50 Emerging Stars roster were:

The H2 Ventures/KPMG report includes a geographic breakdown of the 2016 Fintech 100, as well as a set of key takeaways such as increased geographic diversification, the return of lending, the continued ascent of Insurtech, and the appearance of RegTech. The report also notes that China now has four out of the top five companies in the report’s top 10, and eight companies in the top 50. The report says funding for fintech “continues to rise,” and its authors cite more than $14 billion in capital was raised by the Fintech 100 in the past year.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: BBVA, Bluefin Payment Systems, Civic, FIS, Handpoint, InComm, PayStand, PrivatBank, Signifyd, Socure, Temenos, ThetaRay, TSYS, Yoyo

On Finovate.com

  • H2 Ventures and KPMG Unveil 2016 Fintech 100

Around the web

  • Signifyd to power fraud protection for Magento Commerce platform’s online merchants.
  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Handpoint expands agreement with PaySafe to power EMV POS.
  • YoYo Wallet expands focus to U.K.’s high street retailers, with partnerships between Planet Organic, Fernandez & Wells and Hummus Bros.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • TSYS signs payments agreement with Optal Financial Limited.
  • Bluefin Payment Systems launches cloud-based hosting option for its Decryptx PCI-validated P2PE product through Amazon Web Services.
  • Socure launches revamped Digital Identity Dashboard.
  • Civic expands focus from 2FA to Secure Private Login.
  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • FIS to provide reconciliation solution to U.K.-based Raphaels Bank to facilitate access to faster payments.
  • PayStand offers payment certification and notarization for its customers via the blockchain.
  • PrivatBank adds fund-transfer functionality via iMessage to its Privat24 mobile banking app.
  • ThetaRay unveils its analytic platform for fraud detection, THETA.

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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Revealed: The Full Presenter Roster for FinovateAsia 2016

Revealed: The Full Presenter Roster for FinovateAsia 2016
By Erika Sanchez Posted on
Categories: Finovate Marketing, FinovateAsia 2016

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As we approach the home stretch with just under two weeks to FinovateAsia 2016, we’re thrilled to announce the full presenter roster. This list includes 36 presenting companies and 252 minutes of the most cutting-edge innovations in fintech—all in just one day.

The full presenter roster is on our website and below:

To get an inside look into our presenting companies and their innovations, check out our sneak peek blog series that we’ll continue to update up until the event.

We hope you’ll join us as we launch Finovate’s first Hong Kong event. Tickets are on sale at finovateasia2016.eventbrite.com. Space is limited, so get your ticket soon!

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Lending Club Launches Car Loan Refinance Product

Lending Club Launches Car Loan Refinance Product
By Julie Muhn (@julieschicktanz) Posted on
Categories: Lending Club

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U.S. P2P lending giant Lending Club has been offering car buyers an alternative borrowing experience since it launched ten years ago. Today, the company announced it is bringing that same transparent experience to the auto refinancing industry.

In its press release, the company cited data from the Center for Responsible Lending, which states that consumers pay as much as $25 billion in interest payments every year due to “dealer markup” of their interest rate. Lending Club’s new Auto Refinancing product offers a solution that gives qualified borrowers a more affordable monthly payment and interest rate.

The California-based company, which already offers credit card debt refinancing, hopes to tap into the $1 trillion auto loan market. Consumers can apply online with no hard credit inquiry and compare refinancing offers against their existing auto loan. Lending Club will pilot Auto Refinancing to California residents with FICO scores above 640, but plans to expand geographically and to people with lower FICO scores.

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At launch, the company is not using its marketplace lending model to fund the auto debt; instead, the company itself will buy the debt. However, according to Lending Club CEO Scott Sanborn, the leverage of the company’s balance sheet is only temporary and will be immaterial.

Stakeholders seem to be responding well to today’s news. Lending Club’s stock is up 1.64% to $4.95, still below the company’s $15 IPO price. Lending Club’ stock dipped in May after its then CEO Renaud Laplanche stepped down amid accusations of loan-documentation errors.

Founded in 2006, Lending Club demoed at FinovateSpring 2009 and at the inaugural Finovate in 2007.

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Lendio Closes $20 Million Funding Round

Lendio Closes $20 Million Funding Round
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Lendio

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Small-business loan-marketplace Lendio today reeled in $20 million in Series D funding. Leading the round were Comcast Ventures and Stereo Capital. Existing investors Napier Park, Blumberg Capital, Tribeca Venture Partners and North Hill Ventures also contributed, bringing Lendio’s total funding to $31 million.

The Utah-based company will use the funds to boost Lendio’s growth via marketing, sales, and brand awareness, which should augment its YOY growth, which already sits at 100%. Other growth figures include:

  • In Q3, Lendio funded $63+ million in loans, up 14% from Q2 2016
  • In Q3, Lendio funded more than 2,900 businesses, up 22% from Q2 2016
  • Lendio saw a record number of repeat customers in Q3, up 33% over Q2 2016

Regarding the company’s growth, Lendio founder and CEO Brock Blake said, “Even though we’ve helped facilitate funding for more than 13,000 small business owners, we’re just scratching the surface as to the number of business owners that we can help; our goal is to help fuel the American Dream for the millions of SMBs that make up the backbone of our U.S. economy.”

Lendio seeks to decrease the time it takes for small businesses to secure loans. The company works on behalf of small business borrowers to match them with the right loan, helping the 75 lenders on its platform reach qualified borrowers. Lendio partnered with American Express in April to power its merchant-financing offering. In 2015, the company facilitated $128+ million in financing to more than 5,100 businesses. Lendio debuted at FinovateSpring 2011.

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New Investment Boosts Alpha Payments Cloud Valuation to $250 Million

New Investment Boosts Alpha Payments Cloud Valuation to $250 Million
By David Penn Posted on
Categories: Alpha Payments Cloud

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While terms of this week’s investment were not disclosed, the new funding for Alpha Payments Cloud from Australia-based First Quay Capital is believed to have taken the company’s valuation to $250 million.

In a statement issued from First Quay Capital, Talal Yassine, chairman, is quoted as saying: “We are very excited to be investing in, and partnering exclusively with, Alpha in the Gulf region and selected countries in the Middle East.” He called Alpha Payments Cloud “the next generation of unique, innovative, cost-effective institutional middleware on a revolutionary global platform.” First Quay specializes in investments in high-growth industries such as finance, healthcare, and education. The firm also provides support to companies looking to grow their presence in the MENA (Middle East and North Africa) region.

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Alpha Payments Cloud CEO Oliver Rajic demonstrated AlphaHub at FinovateEurope 2017.

For the financial sleuths out there, recall that Alpha Payments Cloud picked up an investment from Wells Fargo this summer courtesy of its participation in the bank’s Startup Accelerator program. And while the amount from Wells Fargo was also not disclosed, the company reported the investment took its valuation to $100 million. The fact that First Quay Capital’s investment more than doubles Alpha Payments Cloud’s valuation suggests a significant capital infusion.

Founded in June 2012 and headquartered in Singapore, Alpha Payments Cloud demonstrated its AlphaHub technology at FinovateEurope 2016. The company’s Payments-as-a-Service technology provides a middleware layer that both “amplifies third-party access” while making new vendor selection as easy as “the click of a button.” Via the AlphaHub API, users can access more than 250 third-party solutions, as well as Alpha Payments Cloud’s proprietary technologies to ensure access to “any payment type, any solution provider, anywhere in the world.”

Alpha Payments Cloud also this month teamed up with Australian online security innovator, Haventec, and will serve as the startup’s preferred integration provider for its identify authentication and secure payment services, Haventec Authenticate and Secure Wallet, respectively. And earlier this month, the company announced a partnership with RS2 Software that would help support banks in Thailand.

Recipient of a Best of Show award for its demo at FinovateSpring 2015, Alpha Payments Cloud will demonstrate its latest technology at FinovateAsia 2016 in Hong Kong, 8 November. Visit our FinovateAsia 2016 page for more details and information on how to buy tickets and save your spot at this year’s event.

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FinovateEurope 2017 Application Deadline Just Days Away

FinovateEurope 2017 Application Deadline Just Days Away
By David Penn Posted on
Categories: FinovateEurope 2017

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It’s that time again: The application deadline for FinovateEurope 2017 is this Friday, 28 October. So if you’re thinking about being a part of the show when Finovate returns to Old Billingsgate Market Hall in London on 7/8 February 2017, then now is the time to put the finishing touches on that application and send it our way.

FinovateEurope is the premier event for startups and veteran companies alike to showcase their most compelling fintech solutions. Whether your innovation brings new biometric authentication technologies to the enterprise (as Best of Show winners EyeVerify and IDScan Biometrics did at FinovateEurope 2016), unveils faster, more efficient ways to onboard customers or use transaction-data analytics (such as FinovateEurope 2015 Best of Show winners Avoka and Meniga, respectively), or even just helps average Janes and Joes better manage their finances (think Tink and Toshl, Best of Show winners from FinovateEurope 2014), there is no better place than Finovate to demonstrate your team’s latest and greatest fintech solutions.

feu2016_crowd_for_feu2017_tixdeadline

So if FinovateEurope sounds like the kind of opportunity you can’t afford to miss, then here’s what you need to know:

  • Download and review the FinovateEurope 2017 informational PDF for prospective presenters. This document includes background information on the conference itself, our unique demo-only format, as well as an insight into the kind of knowledgable, professional attendees that make up our anticipated audience of more than 1,500, and much more.
  • If you think your technology has what it takes to wow our crowd and make a real difference in the way we save, spend, invest, and interact with the world of finance, then complete your application at europe2017.finovate.com/application and submit it to us by this Friday, 28 October.*
  • That’s it! Our team will review your application and contact you in the next few weeks.

Application season is always a great time for us here at Finovate to get a glimpse at the wide variety of financial technologies that have been incubating for months and are now ready for prime-time. If you have any questions about FinovateEurope 2017 or our application process, please get in touch with us at Europe@finovate.com. We’re looking forward to hearing from you!

*Want to apply to FinovateEurope 2017, but still need a bit more time? Email us at europe@finovate.com and we’ll be happy to help.

FinovateEurope 2017 is sponsored by: Financial Technology Partners and KPMG, and is partners with SME Finance Forum and Verdict Financial. Additional sponsors and partners will be announced soon.

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FinovateAsia Sneak Peek: FixNix

FinovateAsia Sneak Peek: FixNix
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateAsia 2016, FinovateAsia 2016 Sneak Peek, FixNix

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FA2016-V1A look at the companies demoing live at FinovateAsia on 8 November 2016 in Hong Kong. Pick up your tickets today and save your spot.

FixNix was born as a bootstrapping entrepreneurial venture to build an affordable cloud GRC suite for growth markets and SMBs.

Features:

  • User friendly: It doesn’t deliver a product, it delivers an experience
  • Automation: There is no magic, nor are there hidden tricks, but FixNix’s technology can take you there
  • Simple reporting

Why it’s great
Cloud-ify your regulatory compliance in just 2 minutes!

Presenterscreen-shot-2016-10-24-at-1-55-04-pm

Shanmugavel Sankaran, CEO, founder
Sankaran, aka Shan, worked for Capillary Technologies as CISO, gaining extensive experience and deep understanding of software and cyber security.
LinkedIn

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FinovateAsia Sneak Peek: Sentifi

FinovateAsia Sneak Peek: Sentifi
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateAsia 2016, FinovateAsia 2016 Sneak Peek, Sentifi

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FA2016-V1A look at the companies demoing live at FinovateAsia on 8 November 2016 in Hong Kong. Pick up your tickets today and save your spot.

Winner of the 2016 Swiss Fintech award, Sentifi generates real-time, actionable crowd intelligence from over 3 million financial sources not yet available via traditional news outlets.

Features:

  • Real-time insights for your investment portfolio
  • Targeted content and analysis from over 3 million sources
  • Custom solutions for media platforms to increase traffic, revenue, and user engagement

Why it’s great
Sentifi makes it simple to maximize your investment strategy. Using the power of the crowd, “Sentifi” your portfolio to gain real-time insights from over 3 million qualified sources. All in one place.

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Dr. Anders Bally, CEO
With a passion for financial technology and crowd intelligence, Bally has used his 25+ years of experience in global financial markets to connect the world with innovative insights previously unavailable.
LinkedIn

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Actiance, AdviceRobo, Avoka, Backbase, Bill.com, Bizfi, Chain.com, Fiserv, Hyperwallet, Intuit, Lending Club, Lendio, PayPal, Trulioo, Yodlee

On Finovate.com

  • Lendio Closes $20 Million Funding Round
  • Lending Club Launches Car Loan Refinancing Product
  • Check out today’s sneak peeks of upcoming FinovateAsia demos:

Around the web

  • AdviceRobo reaches 900k credit scores
  • Bill.com partners with Intuit to power end-to-end accounts payable within QuickBooks Online
  • Actiance appoints Cynthia Crossland as CMO
  • Entrepreneur Magazine names Cardlytics One of the Best Entrepreneurial Companies in America
  • American Banker: Bizfi Hires Former Lending Club Exec as New CEO
  • Intuit expands partnership with PayPal to provide QuickBooks’ Online customers with a new way of accepting payments via PayPal
  • Farm Credit Services of America picks DNA from Fiserv to support agricultural lending
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace
  • Chain launches open source edition of its distributed ledger, Chain Core Developer Edition
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries
  • Hyperwallet announces support for real-time, push-to-card payments solution, Visa Direct

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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PaySimple Pulls in $115 Million

PaySimple Pulls in $115 Million
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, PaySimple

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Colorado-based service commerce solution PaySimple just closed its second round of funding since its founding in 2006. The $115 million round amounts to 7X more than the first round the company closed in 2011. PaySimple’s funding now totals $131 million.

The company anticipates the investment from Providence Strategic Growth will fuel efforts to market services online, automate payment acceptance, and deliver the solution to its customers. Mark Hastings, managing director and head of Providence Strategic Growth, will join PaySimple’s board of directors.

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At FinovateFall 2012, PaySimple CEO Eric Remer (pictured right) demonstrated how the company uses early payment incentives to help small businesses get paid faster. Earlier this month, PaySimple began focusing on helping service-based businesses improve the customer experience by offering tools such as online appointment scheduling, payment and registration forms, and an online store, as well as a variety of ways to collect payment, such as in-person, online, over the phone, via invoice, and by recurring billing. Remer said, “The service-business model is centered around customers.” He added, “Business owners have to build trust and create lasting and ongoing relationships with people. Our service-commerce platform connects business owners and their staff to the people they do business with, instead of just the transactions or products sold.”

The company serves 17,000 clients in a range of industries, from fitness to professional services. In May, PaySimple partnered with small business loan marketplace Fundera to offer its clients a new way to procure working capital via the Fundera-empowered Loan Center.

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FinDEVr in Photos and the Press

FinDEVr in Photos and the Press
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinDEVr 2016 Silicon Valley
bbvafdsv16BBVA’s Shamir Karkal and Diego Blanco presentied the bank’s API Market

We had so much fun last week at FinDEVr Silicon Valley in Santa Clara that we could do it all over again this week!

Presenting companies brought their A-Games, showing off their tech in unique and thought-provoking ways. And with presentations on two stages at once, we saw double the innovation over the course of the two-day show. Videos of the live presentations will be available in a few weeks on FinDEVr.com. For now, here are a handful of pictures:

Kyckr demos how it leverages the blockchain
WiseBanyan shows its growth stats
Exeria’s algorithmic investment strategies
The OCR Labs team

The Twitter conversation was unlike any we’ve seen at FinDEVr in the past. Check out our Techs on Twitter post, as well as other media coverage from the October 18 & 19 show:

I Programmer
Bedrock Topper For SQLite
by Kay Ewbank

Let’s Talk Payments
FinDEVr 2016: What’s Hot in FinTech?

Smartwave blog
Smartwave at FinDEVr Silicon Valley 2016

And we may take fintech seriously, but we’re also pretty serious about having a good time. Foosball, corn hole, and giant Jenga were among the favorite games at the event. Here’s @miss__Haley beating me at a game.

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Once again, thanks to all who blogged, tweeted, and attended to make this event a success. We’ll see you in New York in the spring of 2017!

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