FinDEVr APIntelligence

FinDEVr APIntelligence
By Julie Muhn (@julieschicktanz) Posted on
Categories: Avoka, Betterment, Bluefin Payment Systems, Braintree, FinDEVr APIntelligence, Kabbage, Kofax, Markit, Modo Payments, OutsideIQ, PayPal, Stratumn, Xero, 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.

Developer news

On FinDEVr.com

  • “Blockchain Dev Platform Stratumn Lands $670,000 in Seed Investment”
  • “Bluefin Payment Systems Raises $6 Million in Growth Equity Financing”

The latest from FinDEVr New York 2015 presenters

  • “OutsideIQ Chosen To Participate In Brazilian Innovation Summit”
  • Investment News looks at how Betterment has added data aggregation, and considers Vanguard’s partnership with Envestnet|Yodlee.
  • PayPal’s Braintree Auth launches to bring its payments platform to more merchants, service providers.
  • Avoka and eSignLive partner to enable 100% digital customer acquisition.
  • Markit unveils new Common Reporting Standard (CRS) solution for tax-residency identification and due diligence.

Alumni updates

  • “FinovateSpring Sneak Peek: Kofax from Lexmark”
  • New strategic partnership connects Klarna’s checkout solution with Modo’s digital payments hub.
  • “Santander and Kabbage Partner to Bring Same-Day Funding to U.K. SMEs”
  • “Barlow Names Xero TaxTouch Most Innovative At 2016 Banking Technology Awards”

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: Ixaris, Klarna, Misys, Modo Payments, NICE Systems, Scalable Capital, TSYS, Urban FT, Xero

On Finovate.com

  • “Scalable Capital Scores $7.9 Million”
  • Check out this week’s FinDEVr APIntelligence.
  • “Finovate Alums Dominate The FinTech50’s Inaugural Hall of Fame”

Around the web

  • New strategic partnership connects Klarna’s checkout solution with Modo’s digital payments hub.
  • NICE Actimize unveils its Actimize AML Essentials, AML cloud solution.
  • Ixaris spins off its payment technology division, Ixaris Technologies.
  • European payment providers partnered with TSYS to get access to alerts service.
  • Misys teams up with Dorsum to enable FusionBanking Essence customers to trade directly from their accounts.
  • Payroll in Xero now available in Georgia, reaching 21 states.
  • Richard Steggall, co-founder and CEO of Urban FT, chats with PYMNTS.

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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FinovateSpring Sneak Peek: BaseVenture

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

BaseVenture_homepage_April2016

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

BaseVenture simplifies and automates fund management and administration for the more than 40,000 small and medium-sized private funds in North America.

Features:

  • Stop chasing paperwork and “wet” signatures from investors
  • Manage your fund with powerful, fund-specific accounting, reporting, and CRM
  • Share data/documents both securely and conveniently

Why it’s great

BaseVenture’s flagship product called “FundManager.io” is an SaaS platform designed for fund managers and administrators to digitally manage their investors and funds, execute investments, and more.

BaseVenture_JohnPizziPresenters

John Pizzi, Co-founder and CEO

Pizzi is a serial entrepreneur and fintech leader. He is the co-founder and CEO of BaseVenture. Previously, Pizzi was COO of mFoundry (sold to FIS).
LinkedIn

 

BaseVenture_SteveLemmerSteve Lemmer, Director of Product

Lemmer leads BaseVenture’s product team. With 20+ years of experience, Lemmer is an expert in all aspects of private fund management and administration.
LinkedIn

 

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FinovateSpring Sneak Peek: OneVisage

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

OneVisage_homepage_April2016

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

OneVisage is a leading Swiss-American digital identity platform provider for financial services and IAM providers. The company is the first to use 3D facial authentication on consumer-grade mobile devices.

Features:

  • Premium security and spoofing resistance
  • Awesome user experience on all mobile devices
  • More cost-effective than passwords

Why it’s great

It’s time to authenticate consumers in a safe, simple, scalable, and cost-effective way. And there’s only one best overall modality in the market: 3D facial authentication.

OneVisage_ChristopheRemillet

Presenter: Christophe Remillet, CEO
LinkedIn

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Persado Pulls in $30 Million in Funding Led by Goldman Sachs

Persado Pulls in $30 Million in Funding Led by Goldman Sachs
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Persado

PersadoHomepage

Marketing messaging company Persado closed on $30 million in Series C funding this week. The round was led by Goldman Sachs and included an all-star cast of previous contributors, including American Express Ventures, Bain Capital Ventures, Citi Ventures, and StarVest Partners.

This is the company’s third round of funding since it was founded in 2012, bringing its total to $66 million.

The New York-based company offers software that uses algorithms to map emotions and create optimal marketing content for emails, websites, social media messages, and push notifications. It uses machine learning to determine the message that will generate the best response from the target audience. Co-founder and CEO Alex Vratskides says, “Persado is revolutionizing how organizations communicate by propelling creativity into the data-driven age, arming brands with ‘smart content’ that resonates with any audience, every time, and inspires them to act.”

At FinovateEurope 2016, the company’s Chief Revenue Officer Lawrence Whittle (below) launched Persado Go, an automated solution that offers business customers persuasive messaging in real-time via a self-service interface. In the demo, Whittle showed how a bank can create a marketing email to persuade dormant credit card clients to resume their relationship with the bank.

PersadoFEUIMG

In a press release, Vratskides said the company will use the funding to invest in product distribution and development. Specifically, he plans to deliver messages in more communication channels and to expand the service into more sectors, such as healthcare messaging and civic engagement.

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FinovateSpring Sneak Peek: Kofax from Lexmark

FinovateSpring Sneak Peek: Kofax from Lexmark
By David Penn Posted on
Categories: FinovateSpring 2016, FinovateSpring 2016 Sneak Peek, Kofax

kofax_4

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

Kofax from Lexmark helps organizations automate information-intensive processes to keep pace with rising customer expectations. Robotic process-automation powers onboarding and Know Your Customer (KYC) agility.

Features:

  • Eliminate complexities with KYC processes
  • Intelligently and in real-time search and retrieve prospective customer information
  • Ensure on-going compliance

Why it’s great

It has never been so easy to comply with KYC regulations and have a real-time view of prospective and current customers.

Presenters

Kofax_DarrenLeeCollinsDarren Collins, Global Director, Banking and Insurance Industry Team
LinkedIn

 

 

 

Kofax_ChrisEdgingtonChris Edgington, Global Industry Solutions, Financial Services
LinkedIn

 

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FinovateSpring Sneak Peek: PayActiv

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

PayActiv_homepage_April2016

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

PayActiv is a real alternative to small dollar, predatory loans, with no additional debt. PayActiv provides turnkey, on-demand access to earned but unpaid wages.

Features:

  • Re-imagine savings in units of time
  • Change savings mindset—make it fun, practical, and achievable

Why it’s great

End financial stress with savings, dignity, and no additional debt.

PayActiv_SafwanShahPresenter: Safwan Shah, Founder and CEO

An engineer, entrepreneur, and educator, Shah has previously founded, boostrapped, and sold a payments company to TSYS. He is now inspired every day by PayActiv’s transformative impact for society.
LinkedIn

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Ally Financial Acquires TradeKing for $275 Million

Ally Financial Acquires TradeKing for $275 Million
By Julie Muhn (@julieschicktanz) Posted on
Categories: Mergers & Acquisitions, TradeKing

TradeKingHomepage

TradeKing, an online brokerage firm that prides itself on straightforward, low pricing, has been acquired by Detroit-based Ally Financial (NYSE: ALLY), a publicly traded financial services company primarily known for auto-lending. The purchase price paid in cash is $275 million.

Ally is purchasing the Florida-based company for its online broker/dealer, digital portfolio-management platform; educational content; and social collaboration channels. According the the Wall Street Journal, the acquisition will serve as a stepping stone to help Ally expand its services into wealth management, mortgages, and credit cards. Ally CEO Jeffrey Brown says, “The addition of wealth management is the next key step in Ally’s digital product evolution and will create a powerful combination of segment-leading direct banking and innovative investment services in a single integrated customer experience.”

The deal is expected to close in Q3 of this year. Once it does, TradeKing’s 180 employees will join Ally Financial. TradeKing, with $4.5 billion in assets under management, will operate under the branding of Ally Financial.

In the early days of Finovate, TradeKing presented the TradeKing Community at FinovateSpring 2008. TradeKing Community is one of the first brokerages to create a social network that enables investors to share their online trades with others.

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FinovateSpring Sneak Peek: Vera

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

Vera_homepage_April2016

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

Vera secures enterprise data wherever it goes, and allows IT to instantly revoke access in unmanaged domains – no agent required.

Features:

  • Secures any file type, ensuring only authorized parties can access sensitive financial information
  • Works no matter where/how the file is stored, or who has it
  • Not tied to any specific technology

Why it’s great

Vera works just as effectively with outside collaborators (clients, auditors, lawyers, banks) as internal employees, without requiring recipients to download or install special programs.

Vera_AjayAroraPresenters

Ajay Arora, Co-founder and CEO

As CEO and co-founder of Vera, Arora is a serial entrepreneur with 20+ years of experience in security and enterprise software.
LinkedIn

 

Vera_GrantShirkGrant Shirk, Senior Director of Product Marketing

As senior director of product marketing at Vera, Shirk is focused on helping global businesses secure and share their critical business information.
LinkedIn

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Finovate Alumni News

By David Penn Posted on
Categories: Alpha Payments Cloud, Azimo, BaseVenture, FutureAdvisor, Kofax, Mistral Mobile, OneVisage, OutsideIQ, PayActiv, Persado, TradeKing, TransferTo, Vera

On Finovate.com

  • “Persado Pulls in $30 Million in Funding Led by Goldman Sachs”
  • “Ally Financial Acquires TradeKing for $275 Million”

Around the web

  • Mistral Mobile unveils its new, two-factor authentication solution, m-Aegis Secure OTP.
  • Azimo announces expansion within Denmark and Sweden.
  • TransferTo adds GGV Capital venture partner, Lee Kheng Nam, to its board of directors.
  • Alpha Payments Cloud teams up with WeCollect to launch China Payments Cloud.
  • Broadway Bank selects Micronotes’s cloud-based marketing automation platform to boost digital customer engagement.
  • RBC partners with BlackRock’s FutureAdvisor for robo-adviser pilot program.
  • “OutsideIQ Chosen To Participate In Brazilian Innovation Summit”

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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Fintech Fundings: 21 Companies Raise $460 Million Week Ending April 1

By Jim Bruene Posted on
Categories: Funding

money_keyFirst quarter closed with a bang as 21 companies raised a total of nearly a half-billion of new funding ($458 million), all equity as far as we know.

The total number of deals in first quarter was 334, double last year’s 171.  Total dollars raised in Q1 stands at $6.7 billion, also double the $3.3 billion raised in Q1 2015.

Three Finovate or FinDEVr alums, two of which presented at FinDEVr NYC last week (Betterment, Stratumn), brought in new investments:

Here are the fintech deals by size from 26 March to 1 April 2016:

Ceridian
Human resources, payroll and health insurance platform
Latest round: $150 million Private Equity
Total raised: Unknown
HQ: Minneapolis, Minnesota
Tags: SMB, healthcare, insurance, payroll, benefits, HR, employees
Source: Crunchbase

Betterment
Consumer online investment platform
Latest round: $100 million Series E ($700 million valuation)
Total raised: $205 million
HQ: New York City
Tags: Consumer, investing, robo-adviser, ETFs, retirement, Finovate alum
Source: Finovate

Real Matters
Real estate transaction management technology
Latest round: $76.7 million ($500 million valuation)
Total raised: $136.7 million
HQ: California
Tags: SMB, real estate brokers, home buying, mortgages, insurance, title insurance
Source: FT Partners

Figtree Financing
Financing solutions for energy saving improvements at commercial properties
Latest round: $30 million Series A
Total raised: $30 million
HQ: California City, California
Tags: SMB, commerical real estate, energy conservation, lending, underwriting
Source: Crunchbase

Splitit
PayItSimple consumer credit service
Latest round: $22.5 million ($56 million valuation)
Total raised: Unknown
HQ: New York City
Tags: Consumer, payments, credit, lending, POS, merchants, in-store financing, underwriting
Source: FT Partners

Blispay
In-store financing service
Latest round: $12.75 million
Total raised: $12.75 million
HQ: California
Tags: SMB, consumer lending, loans, POS, merchants, in-store financing, P2P, peer-to-peer, underwriting, personal finance
Source: FT Partners

LoanLogics
Mortgage loan quality and performance-maagement software
Latest round: $10.03 million
Total raised: $22.46 million
HQ: Fort Washington, Pennsylvania
Tags: Financial institutions, mortgage brokers, consumer lending, analytics, underwriting, compliance, regulations
Source: Crunchbase

Swanest
Consumer investing service
Latest round: $10 million Seed
Total raised: $10 million
HQ: London, England, United Kingdom
Tags: Consumer lending, investing, portfolio management, trading, wealth management, robo-adviser, Andreessen Horowitz (investor)
Source: FT Partners

Branch
Smartphone based alt-credit and underwriting for underbanked
Latest round: $9.2 million
Total raised: $9.2 million
HQ: San Francisco, California
Tags: Consumers, SMB, lending, loans, underbanked, unbanked, emerging markets, credit, credit score, underwriting
Source: Crunchbase

Bluefin Payment Systems
PayConex payment platform
Latest round: $6 million
Total raised: $6 million
HQ: Atlanta, Georgia
Tags: SMB, payments, security, merchants, acquiring, FinDEVr alum
Source: FinDEVr

Wave
Suite of small business tools for payroll, accounting, invoicing, payments
Latest round: $5.07 million
Total raised: $44.77 million
HQ: Toronto, Ontario, Canada
Tags: SMB, accounting, bookkeeping, accounts receivables, payables, payments, billing, billpay, invoicing
Source: Crunchbase

Veritas Finance
Banking services for the under- and non-banked
Latest round: $4.5 million Series A
Total raised: $4.5 million
HQ: Guindy, India
Tags: Consumer, lending, deposits, loans, payments, banking, underbanked, non-banked
Source: Crunchbase

Bitt
Bitcoin exchange and remittance platform
Latest round: $4 million Series A
Total raised: $5.5 million
HQ: Hastings, Barbados
Tags: Consumer, payments, bitcoin, cryptocurrency, Overstock (investor), mobile wallet, debit card, funds transfers, remittances
Source: FT Partners

Slice Labs
On-demand insurance
Latest round: $3.9 million Seed
Total raised: $3.9 million
HQ: New York City
Tags: SMB, consumer, insurance, mobile, underwriting
Source: Crunchbase

Homie
Peer-to-peer real estate marketplace
Latest round: $3.76 million
Total raised: $3.76 million
HQ: Salt Lake City, Utah
Tags: Consumer, home buying, residentail real estate, P2P, mortgage
Source: Crunchbase

LandBay
P2P real esate loan marketplace
Latest round: $3.57 million
Total raised: $6.72 million
HQ: London, England
Tags: Consumer, lending, loans, mortgage, investing, peer-to-peer, crowdfunding
Source: Crunchbase

HealthJoy
Consumer healthcare and payments platform
Latest round: $3 million Seed
Total raised: $3 million
HQ: Chicago, Illinois
Tags: Consumer, healthcare, insurance, personal financial management, benefits, spending management, billing, payments
Source: Crunchbase

EDJ Analytics
Analytics platform for financial services and other verticals
Latest round: $2.4 million Series A
Total raised: $2.4 million
HQ: Louisville, Kentucky
Tags: SMB, enterprise, analytics, gamification, trading, investing, big data
Source: FT Partners

Stratumn
Blockchain appliction platform
Latest round: $670,000 Seed
Total raised: $670,000
HQ: Paris, France
Tags: SMB, enterprise, blockchain, bitcoin, infrastructure, developers, FinDEVr alum
Source: Crunchbase

iQapla
platform
Latest round: Not disclosed
Total raised: Unknown
HQ: Madrid, Spain
Tags: Consumer, investing, trading, robo-adviser, porfolio management
Source: Crunchbase

SwitchME
Loan price comparison portal
Latest round: Not disclosed
Total raised: Unkown
HQ: Mumbai, India
Tags: Consumer, lending, loans, mortgage, personal finance, price comparison, lead gen, discovery,
Source: Crunchbase

 

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iSignthis Facilitates Instant Bitcoin Purchases on Coinify

iSignthis Facilitates Instant Bitcoin Purchases on Coinify
By Julie Muhn (@julieschicktanz) Posted on
Categories: iSignthis

iSignThisHomepage

Digital identity-proofing company iSignthis announced a partnership with Coinify, whose bitcoin exchange acts as a processor and trading platform for more than 17 blockchain currencies.

Using iSignthis’ AML/CTF KYC services, customers can now use Coinify to instantly purchase bitcoin using a major credit card. To meet AML/CTF regulations for customer due diligence and KYC guidelines, iSignthis helps end users link their identity to bitcoin transactions. According to Coinify CTO Hamed Sattari:

Using iSignthis’ services, we get a strong customer authentication and a smooth KYC process that ties cards to a specific user. This provides us a secure token that can be used onwards for making instant purchases with extended security and PIN code.

Australia-based iSignthis offers a cloud-based identity- and transaction-authentication solution for payment service providers. The company dynamically generates evidence of identity by using multifactor authentication and linking transaction parameters to the form of payment.

iSignThis went public on the Australian Stock Exchange in March 2015 (ASX:ISX). The company presented its platform at FinovateEurope 2015 in London.

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