Fintech Fundings: 29 Companies Raise $1.2 Billion Week Ending April 8

By Jim Bruene Posted on
Categories: Uncategorized

money_tree_newFor the 14th week in a row, the number of fintech deals worldwide surpassed 20. This week, 29 startups raised $275 million, or $1.20 billion if you count Chinese real estate giant Home Link (Lianjia).*

The total number of deals YTD stands at 363, double last year’s 186 (through April 10). Total dollars raised YTD is $7.9 billion, also double the $3.7 billion raised during the same period a year ago.

Three Finovate alums raised capital, and one, a presenter at the first FinovateSpring show in 2008, TradeKing, was acquired by Ally Financial for $275 million.

Here are the fintech deals by size from 2 April to 8 April 2016:

Home Link (Lianjia)
Online and offline real estate broker
Latest round: $926 million Series B
Total raised: Unkown
HQ: China
Tags: Consumer, investing, robo-adviser, ETFs, retirement, Finovate alum
Source: Crunchbase

Bright Health
Consumer health insurance plans
Latest round: $80 million Series A
Total raised: $80 million
HQ: Minnesota City, Minnesota
Tags: Consumer, insurance, healthcare
Source: Crunchbase

Meili Jinrong
P2P lending platform
Latest round: Undisclosed
Total raised: $65+ million
HQ: Kagoshima, China
Tags: Consumer, P2P lending, peer-to-peer, credit, underwriting, investing
Source: Crunchbase

Finanz Check
Consumer loan portal
Latest round: $37.5 million Series C
Total raised: Unknown
HQ: Hamburg, Germany
Tags: Consumer, loans, credit, credit cards, price comparison, discovery, lead generation, personal finance
Source: Crunchbase

Persado
Messaging technology for financial institutions and others
Latest round: $30 million Series C
Total raised: $66 million
HQ: New York City
Tags: Enterprise, marketing, communications, alerts, service, Goldman Sachs, American Express, Citigroup (investors), Finovate alum
Source: Finovate

Joyowo.com
SMB insurance portal
Latest round: $15 million Series B
Total raised: Unknown
HQ: Zhejiang, China
Tags: SMB, insurance, lead gen, price comparison, discovery
Source: Crunchbase

Scalable Capital
Wealth-management platform
Latest round: $8.0 million
Total raised: $12.3 million
HQ: Munich, Germany
Tags: Consumer, investing, robo-adviser, ETFs, retirement, wealth management
Source: Crunchbase

Ixaris
Prepaid card-payments platform
Latest round: $6 million
Total raised: $6 million
HQ: London, England, United Kingdom
Tags: Consumer, B2B2C, payments, prepaid debit cards, Finovate alum
Source: Finovate

LevelUp
Mobile-payment platform for restuarants
Latest round: $5 million
Total raised: $45 million
HQ: Boston, Massechuesetts
Tags: Consumer, merchants, payments, POS, acquiring, debit/credit cards, mobile
Source: Crunchbase

Tiller
Retailer point-of-sale system
Latest round: $4.6 million
Total raised: $4.7 million
HQ: Paris, France
Tags: SMB, merchants, payments, POS, acquring, debit/credit cards, mobile
Source: Crunchbase

ShareIn
Equity-crowdfunding platform
Latest round: $4.54 million Equity Crowdfunding
Total raised: $5.54 million
HQ: Edinburgh, Scotland, United Kingdom
Tags: SMB, capital, P2P, investing, crowdfunding, equity
Source: Crunchbase

Vestly
Online stock-trading game
Latest round: $4 million
Total raised: $4 million
HQ: New York City
Tags: Consumer, investing, gamification, trading, simulator
Source: Crunchbase

Cortera
Data for B2B analytics and risk management
Latest round: $3.48 million
Total raised: $64.18 million
HQ: Boca Raton, Florida
Tags: SMB, credit evaluation, risk, valuations, underwriting, analytics, Finovate alum
Source: Crunchbase

Liwwa
Marketplace lender for SMB loans
Latest round: $2.3 million Seed
Total raised: $2.3 million Seed
HQ: Amman, Jordan
Tags: SMB, lending, P2P, crowdfunding, credit, commercial loans, underwriting
Source: Crunchbase

Second Measure 
Consumer spending analytics
Latest round: $2 million Seed
Total raised: $2 million
HQ: San Mateo, California
Tags: Enterprise, investors, advisors, trading, analytics, valuations
Source: Crunchbase

Numerai
Global tournament to predict the stock market
Latest round: $1.5 million
Total raised: $1.5 million
HQ: San Francisco, California
Tags: Consumer, investing, trading, stock market, game
Source: Crunchbase

Anedot
Payment processing system for nonprofits
Latest round: $1 million
Total raised: $2.25 million
HQ: Baton Rouge, Louisiana
Tags: Nonprofits, fundraising, payements, merchants, debit/credit cards, acquiring
Source: Crunchbase

Bitwala
Bitcoin payments
Latest round: $912,000
Total raised: $912,000
HQ: Grotestraat, Netherland
Tags: Consumer, payments, crypto-currency, bitcoin,, blockchain
Source: Crunchbase

MedPilot
Medical billing and collections platform
Latest round: $750,000 Angel
Total raised: $750,000
HQ: New York City
Tags: Healthcare providers, billing, payments, collections
Source: Crunchbase

Cambridge Blockchain
Enterprise blockchain applications
Latest round: $635,000
Total raised: $635,000
HQ: Cambridge, Massechuesetts
Tags: Enterprise, SMB, blockchain, distributed database, bitcoin, cyrpto-currency
Source: Crunchbase

Future Penny
Investment information portal
Latest round: $500,000 Seed
Total raised: $500,000
HQ: Perth, Australia
Tags: Consumer, investing, robo-adviser, ETFs, retirement, information, lead gen
Source: Crunchbase, Startup Daily

Tradeworks.io
Financial trade automation technology
Latest round: $500,000 Seed
Total raised: $500,000
HQ: Singapore
Tags: Traders, investing, robo-adviser, stocks, automation
Source: Crunchbase

Vindi
Online payment platform
Latest round: $330,000 Series A
Total raised: $820,000
HQ: Sao Paulao, Brazil
Tags: Consumer, SMB, payments, online, subscription billing, billpay
Source: Crunchbase

Sphere
Point-of-sale system for food and beverage industry
Latest round: $250,000 Seed
Total raised: $250,000
HQ: Singapore
Tags: Consumer, merchants, payments, POS, acquiring, debit/credit cards
Source: Crunchbase

Tokken
Proxy banking and payments services for cash businesses
Latest round: $250,000 Debt
Total raised: $250,000
HQ: Denver, Colorado
Tags: SMB, merchants, credit/debit cards, legal cannibas industry, payments, mobile
Source: Crunchbase

Internex Capital
Working capital finance
Latest round: $200,000 Debt
Total raised: Unknown
HQ: New York City
Tags: SMB, lending, trade finance, loan, underwriting
Source: Crunchbase

Cardtek
EMV and mobile-payments technology 
Latest round: Undisclosed
Total raised: Unknown
HQ: Istanbul, Turkey
Tags: Enterprise, payments, credit/debit cards, EMV, chip & PIN, mobile
Source: Crunchbase

Musoni BV
Microfinance software
Latest round: Undisclosed
Total raised: Unknown
HQ: Amsterdam, Netherlands
Tags: Consumer, micro-finance, underbanked, unbanked
Source: Crunchbase

Tandem Bank
Digital bank
Latest round: Not dislosed
Total raised: Unknown
HQ: London, England, United Kingdom
Tags: Consumer, banking, lending, mobile
Source: FT Partners

—–
*We include digital consumer real estate platforms in our definition of fintech companies. Many other sources classify them elsewhere. See full methodology in the footnotes here.
**Image licensed from 123rf

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Ixaris Receives $6 Million in Funding After Spinning Off from Parent Company

Ixaris Receives $6 Million in Funding After Spinning Off from Parent Company
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Ixaris

IxarisHomepage

Payments-solutions provider Ixaris has spun off Ixaris Technologies, a dedicated B2B tech-focused arm that will support its Open Payment Ecosystem Platform, an offering that launched last June.

With the launch of Ixaris Technologies as a distinct company, the London-based company’s shareholders have contributed $6 million in launch funding to accelerate growth. Combined with its previous $10 million in equity funding, Ixaris’ total funding is $16.

CEO Alex Mifsud highlights the fiscal reasoning behind the spinoff: “Our B2B payment offering now accounts for 25% of Ixaris Group revenues, which exceeded $16 million in 2015.” He continues by explaining the market reason behind the separation: “The payments industry is shifting focus towards APIs and technology solutions to help drive open banking, further reinforcing that the time is right to launch a company dedicated to open payments.”

Ixaris’ sister-company EntroPay will focus on its self-service consumer and SMB virtual card business.

At FinovateEurope 2015, Ixaris launched a UI editor for its Open Payments Platform.

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Avalara, Signifyd Bring Sales Tax, Fraud Solutions to Magento E-commerce Marketplace

Avalara, Signifyd Bring Sales Tax, Fraud Solutions to Magento E-commerce Marketplace
By David Penn Posted on
Categories: Avalara, Signifyd

Magento_Avalara

Customers of Magento are getting more than their usual share of love from Finovate and FinDEVr alums.

FinDEVr alum and long-time Magento partner Avalara announced that its sales-tax calculation solution, Compliance Cloud, will be a part of the Magento 2.0 e-commerce platform. In addition, customers will gain access to Avalara’s tax-prep, filing and remittance services.

Marshal Kushniruk, Avalara’s executive vice president of business development, called the latest integration a “strong proof point” of his company’s “multifaceted relationship” with Magento. Kushniruk pointed to their more than 1,000 mutual customers, adding that “we are delighted to be a vibrant part of Magento 2.0.”

Seattle-based Avalara has spent the first quarter of 2016 lining up partners. The company extended its relationship with WooCommerce in March and in Februry, Avalara unveiled its LandedCost solution to help small businesses handle overseas taxes, tariffs, and fees. The company made its FinDEVr debut at FinDEVr San Francisco 2015. Loke Uei Tan, senior manager for developer relations, presented on “The Wacky World of Sales Tax” and how Avalara’s APIs help make sales-tax calculation functionality an easy add-on for developers.

Magento_Signifyd

Meanwhile, Finovate alum Signifyd said that the fraud-prevention app it released on Monday will be the “first and only fraud-prevention app” available via Magento’s platform.

Calling the Magento platform “prestigious” and “far-reaching,” Skye Spear, Signifyd senior director of partnerships and business development, said the platform would help get Signifyd’s technology in the hands of more merchants around the world. “E-commerce companies shouldn’t have to worry about fraud,” Spear said.

Signifyd specializes in helping merchants defend themselves against CNP (card not present) fraud. The company’s Social Graph technology leverages social media, search engines, and other sources to determine the likelihood that a person online is who they say they are, and gives merchants a straightforward “Accept” or “Decline” on transactions. Moreover, Signifyd will accept full liability for any transaction that is accepted but turns out to be fraudulent.

Headquartered in San Jose, California, Signifyd demonstrated its Guaranteed Payments solution at FinovateSpring 2013. The company raised $20 million in a Series B led by Menlo Ventures in February, the same month Signifyd announced that it was extending its integration with Shopify Plus.

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: BehavioSec, CardFlight, Cloud Lending, Envestnet, FinDEVr APIntelligence, Google, Google Cloud Platform, On Deck Capital, OutsideIQ, PayNearMe, Praesidio, Stratumn, Streamdata.io, Thinking Capital, VIX Verify, Yodlee

FinDEVrSV16-LogoV2(wdate)Our FinDEVr New York developer showcase last week was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

  • “Envestnet | Yodlee Unveils its Risk Insight API”
  • “Google’s Guide: New Book Explains How Google Manages its Cloud Infrastructure”

The latest from FinDEVr New York 2015 presenters

  • OutsideIQ joins fintech accelerator, Bank Innovation INV, as an API partner. See OutsideIQ at FinovateSpring in San Jose next month.
  • Vix Verify opens new offices in Atlanta, Georgia’s Transaction Alley as part of American expansion.
  • Chase launches OnDeck-powered SMB loan platform.
  • Praesidio ranks top 10 most-promising cloud-banking-solution providers of 2015.
  • API report covers Streamdata.io.
  • CryptoCoinNews takes a look at the recent funding for blockchain-development platform, Stratumn.

Alumni updates

  • “CardFlight and Miura Systems Partner to Offer EMV and NFC Mobile POS Solution to the U.S Market”
  • PayNearMe facilitates users to pay for their taxes in cash.
  • “BehavioSec, Nationwide, Unisys Team Up on Biometrics”
  • Crowdfund Insider interviews Snehal Fulzele, Cloud Lending CEO.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

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Finovate Alumni News

By David Penn Posted on
Categories: Algomi, authenticID, Avalara, CardFlight, cbanc Network, FutureAdvisor, Ixaris, On Deck Capital, OutsideIQ, Praesidio, Ripple, SayPay, Signifyd, VIX Verify

On Finovate.com

  • Check out this week’s FinDEVr APIntelligence.
  • “Avalara, Signifyd Bring Sales Tax, Fraud Solutions to Magento E-Commerce Marketplace”
  • “Ixaris Receives $6 Million in Funding After Spinning Off from Parent Company”

Around the web

  • BankNxt’s BIGcast interviews CEO Steve Hoffman of SayPay Technologies.
  • OutsideIQ joins fintech accelerator, Bank Innovation INV, as an API partner. See OutsideIQ at FinovateSpring in San Jose next month.
  • Vix Verify opens new offices in Atlanta, Georgia’s Transaction Alley as part of American expansion.
  • Algomi partners with IPC Systems to support buy-side users of its Honeycomb network.
  • Bank Innovation takes a look at CBANC and its effort to make social media work for banks.
  • “AuthenticID Wins All Payments Expo Shark Tank with CatfishAIR Identity Verification Solution”
  • Chase launches OnDeck-powered SMB Loan platform.
  • “CardFlight and Miura Systems Partner to Offer EMV and NFC Mobile POS Solution to the U.S Market”
  • MIT adopts Ripple validator to advance consensus and blockchain research.
  • “LPL Selects BlackRock’s FutureAdvisor as Robo Platform”
  • CIOReview names Praesidio in list of top 20 Most Promising Banking Technology Solution Providers for 2016.

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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Malauzai to Offer Geezeo-Powered PFM Tools

Malauzai to Offer Geezeo-Powered PFM Tools
By Julie Muhn (@julieschicktanz) Posted on
Categories: Geezeo, Malauzai

MalauzaiHomepage

Finovate alums Malauzai Software and Geezeo have teamed up this week to bring Geezeo’s PFM tools to community financial institutions using Malauzai’s SmartApps technology solutions. Six Malauzai clients, including Indiana-based Fort Financial Credit Union, have signed contracts to deploy Malauzai’s solution with the new PFM offering.

The partnership enables financial institutions using Malauzai’s online banking platform to offer consumers and small businesses a view of their assets, bills, overall cash flow, goals and budgets. With such a comprehensive view into their customers’ financial lives, banks have an opportunity to cross-sell relevant products and services.

GeezeoPFMCentral to the partnership is a passion to serve community financial institutions. Shawn Ward, CEO and co-founder of Geezeo, says, “We are really excited about this partnership with Malauzai because we share a commitment to provide innovative financial tools to credit unions and community banks.”

The integration will work on both web:

cportweb

… and mobile:

cPort PFM4

Prior to today’s partnership, Malauzai’s apps were focused on the transactional aspect of money management. According to Rob Gaynor, chief product officer for the Austin-based company, the addition of financial management tools boosts the value of the two apps. He says the apps “allow banks and credit unions to better cement their roles as trusted financial partners to those they serve.”

Malauzai, which launched in 2009, recently revamped its banking software. At FinovateSpring 2015, Malauzai launched its Virtual Banking Experience.

Geezeo was the first-ever company to demo at a Finovate conference (check out their retro video from 2007). The company last demoed at FinovateFall 2014 where it debuted TruBusiness business financial management software. Geezeo’s other recent partnerships include NYMBUS and Backbase.

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FinovateSpring Sneak Peek: Comarch

FinovateSpring Sneak Peek: Comarch
By David Penn Posted on
Categories: Comarch, FinovateSpring 2016, FinovateSpring 2016 Sneak Peek

Comarch_homepage_Apri2016

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

Comarch is a leading software house in Europe. Comarch Wealth Management is, in turn, a solution allowing banks to devise investment strategies fully aligned with their clients’ needs and objectives.

Features:

  • Consolidation of key data on all assets belonging to affluent individuals or families
  • Personalized financial planning and investment advisory in one powerful app
  • A whole new customer experience

Why it’s great
It significantly assists financial institutions in letting clients stay in control of their assets (and never lose sleep over losing them out of sight).

Presenters

Comarch_JFilipiakJerry Filipiak, CEO and Chairman of the Board
CEO of Comarch Inc. and founder of SoInteractive, Filipiak has studied at Virgina Tech and Cornell University. His passion lies in theoretical computer science.
LinkedIn

 

 

Comarch_DianaChinDiana Chin, Human Resources and Operations, New York City
Chin served in telecommunications before joining Comarch Inc. and becoming an integral part of their New York operational team.
LinkedIn

 

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FinovateSpring Sneak Peek: SWITCH

FinovateSpring Sneak Peek: SWITCH
By David Penn Posted on
Categories: FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, SWITCH

SWITCH_homepageApril2016

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

SWITCH is a Seattle-based fintech company developing the first automated payment card and online account updater to help consumers update their cards and payment methods wherever they shop online.

Features:

  • Users can update their credit cards where they shop online.
  • Card issuers can get their cards into circulation faster.
  • Merchants can ensure the card they have on file stays current.

Why it’s great
SWITCH’s innovative technology for card updating and visibility utilizes patent-pending machine-learning technology to benefit card issuers, merchants, and consumers alike.

Switch_ChrisHopenPresenter: CEO Chris Hopen, founder
Now on his third startup, Hopen combines deep experience in networking and security technologies along with a savvy business sense to developing solutions for the fintech market.
LinkedIn

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FinovateSpring Sneak Peek: Moven

FinovateSpring Sneak Peek: Moven
By David Penn Posted on
Categories: FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, Moven

Moven_homepage_April2016

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

Brett King, CEO of Moven, and Rizwan Khalfan, chief digital officer of TD Bank, will demo the TD MySpend app for the first time at FinovateSpring.

Features:

Moven and TD Bank will demo MySpend, a complete integration of the Moven platform within TD Bank’s mobile ecosystem.

Presenters: Brett King, CEO and founder, Moven; Rizwan Khalfan, chief digital officer, TD Bank

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Finovate Alumni News

By David Penn Posted on
Categories: Alkami Technology, BehavioSec, Comarch, Envestnet, FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, Fiserv, Geezeo, Malauzai, Moven, Streamdata.io, SWITCH, ThreatMetrix, Top Image Systems

On Finovate.com

  • “Malauzai to Offer Geezeo-Powered PFM Tools”

On FinDEVr.com

  • “FinDEVr New York Presentation Videos Live on FinDEVr.com”

Around the web

  • Top Image Systems appoints Kristian Niklasson as its new chief services officer.
  • Alkami Technology teams up with Easy Solutions to add anti-fraud technology to its digital banking platform.
  • Irish Tech News interviews Moven CEO Brett King. See Moven at FinovateSpring next month in San Jose.
  • Fiserv Investment Services President Cheryl Nash named executive leader for Envestnet Institute On Campus’ “Women in Wealth Management” program.
  • API report covers Streamdata.io.
  • ThreatMetrix launches new release with deeper decision analytics, enhanced mobile offering, and stronger authentication capabilities.
  • BehavioSec, Nationwide, Unisys Team Up on Biometrics.

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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Aire Receives Funding from Accion Venture Lab

By Julie Muhn (@julieschicktanz) Posted on
Categories: Aire, Funding

AireHomepage2016

Aire, a startup that democratizes access to credit, received funding from Accion Venture Lab, a $10 million nonprofit initiative dedicated to building a financially inclusive world. The amount of the investment was undisclosed; the company stated it prefers to focus on the strategic partnership with Accion.

Aire boasts previous funding from Barclay’s Accelerator, Techstars, and SparkLabs Global Ventures. The London-based company gathers meaningful data about potentially credit-worthy clients via an online interview and other reliable sources. It uses artificial intelligence to process the data and qualify users for credit. The company also helps lenders by expanding the pool of qualified applicants.

Co-founder and CEO Aneesh Varma, who we interviewed earlier this year, launched the company in 2014 after he personally experienced the difficulty of accessing credit, despite being a credit-worthy individual. In a press release, Varma commented on the funding:

Accion Venture Lab has been very supportive of our research and product since our early years. I am really glad to have them come onboard now as we start our international expansion.

Aire, which launched its API at FinovateEurope 2014 in London, plans to use the funding to fuel international expansion.

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Refund.me Brings its Air Travel Compensation Service to Businesses

Refund.me Brings its Air Travel Compensation Service to Businesses
By David Penn Posted on
Categories: Refund.me Group

Refundme_homepage_April2016b

With Business Solutions, refund.me is extending its air travel compensation service to the enterprise.

New European Union laws mandate compensation for air passengers who experience flight cancellations, delays, and overbookings. Refund.me automatically analyzes and processes flight compensation claims which, for businesses that have employees traveling in Europe, helps companies both save money as well as recoup costs.

“By outsourcing the claims process to refund.me, companies avoid the costs of internal legal and administrative teams necessary to analyze and process complex flight data and compensation claims,” explained Eve Büchner, refund.me’s CEO and founder.

Read more about refund.me in our recent profile of the Palo Alto, California-based company.

refundme_b2b_homepage

refund.me Business Solutions is a new, B2B, web portal that exists next to the company’s consumer flight compensation website. Business Solutions is geared toward travel management companies, corporate travel managers, and consolidators, and can be customized to match specific corporate travel policies and practices. Refund.me estimates that 11 million air passengers a year are eligible for more than 5 billion euros in compensation for flight cancellations and other disruptions.

Founded in 2012 and headquartered in Palo Alto, California, refund.me can be seen demonstrating its Flight Compensation service at FinovateEurope 2016. It acquired Travel Notes earlier this month for an undisclosed sum. Refund.me serves air travelers in 145 countries filing claims against more than 350 airlines, and claims a success rate of 98% in securing compensation.

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