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Loan Matchmaker Lendio Posts 2015 Growth Numbers

By Julie Muhn (@julieschicktanz) Posted on February 24, 2016
Categories: Lendio

Small business loan marketplace Lendio released a report stating it helped fund more than 5,100 businesses in 2015, up almost 13x from the 400 the company served in 2014, and that’s just the tip of the iceberg.

The Utah-based company experienced record growth across all areas of its business in 2015. Here are the highlights:

Facilitated $128+ million in financing for small businesses (up more than 10x from $12 million in 2014)
100% YOY revenue growth
57% of customers returned for additional financing
Average loan size of $25,000
Helped fund businesses in all 50 states and part of Canada

Founded in 2005, Lendio prides itself on “fueling the American Dream” by working on behalf of small businesses as a lender-matchmaking service. At FinovateSpring 2011, Lendio showed how it works on behalf of the 75 lenders on its platform, helping them expand their reach to find qualified borrowers. The platform enables lenders to filter borrower applications by preferences such as credit score, time in business, revenue, profits, etc.

Lendio’s infographic offers further insight into its 2015 activity:

Lendio’s CEO Brock Blake and CTO Trent Miskin presented at FinovateSpring 2o11.

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on February 24, 2016
Categories: BBVA, Bluefin Payment Systems, Entersekt, Envestnet, Modo Payments, PayPal, Simple, Xero, Yodlee

FinDEVrNY16-V2(wdate) We’re taking our FinDEVr developer showcase to New York on March 29 & 30, 2016. Register by Friday to save on early bird price and lock in your spot.

Developer news

American Banker: BBVA rehires a co-founder of Simple to build open APIs.

The latest from FinDEVr San Francisco 2015 presenters

Ingo Money partners with PayPal, adds instant check-splitting.

PayPal unveils carrier partnerships and NFC payment capability.

Modo Payments closes $2 million in funding.

PayPal unveils redesign of its Android and iOS mobile apps.

Envestnet | Yodlee teams up with South African API marketplace, Limitless.

Alumni updates

Bluefin Payment Systems and Worldnet partner for PCI-Validated P2PE on the Worldnet Payment Platform.

Xero teams up with Google; bringing gmail and Google Apps for Work to its platform.

FirstBank to deploy multi-factor authentication technology, Transakt, from Entersekt.

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

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on February 24, 2016
Categories: BBVA, eWise, Featurespace, Lending Club, Lendio, Payfone, Striata, Taulia, Temenos, ThreatMetrix, Zooz

On Finovate.com

Check out this week’s “FinDEVr APIntelligence”

“Loan Matchmaker Lendio Posts 2015 Growth Numbers”

“Open API! Shamir Karkal to Head BBVA’s New Developer Platform”

Around the web

eWise expands data aggregation network to include institutions in Singapore and Thailand.

Peel Hunt Technology’s sector report highlights Featurespace.

ThreatMetrix enters into agreement with FUJI SOFT to provide online fraud solutions to Japan.

Lending Club opens to retail investors in Maryland and North Dakota, bringing its total to 45 states and Washington D.C.

Striata makes its Secure Document Repository (SDR) available for general release.

Spend Matters interviews Cedric Bru, Taulia CEO.

Zooz taps former Worldpay executive Chester Ritchie as its new EVP of sales and development.

Temenos announces plans for $500 million refinancing of its banking facilities.

Payfone deploys at an additional tier-1 bank in the U.S., now protects 50+ million U.S. accounts.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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Save $100 by Locking in Your Spot at FinDEVr New York by this Friday!

By Heather Stowell Posted on February 23, 2016
Categories: FinDEVr 2016 New York, FinDEVr Marketing

FinDEVr New York is a month away. If you haven’t secured your ticket to the March 29 & 30 event, now is the best time. Friday is the last day to save $100 on tickets and guarantee your seat. Attendees continue to register daily and space is limited at this venue, so register now.

Combining a fast pace (15-minute time limit per speaker) with your choice of sessions, FinDEVr events are unique. With two sync’d auditoriums and a 5-minute passing period, attendees choose precisely which 15-minute presentations are most relevant from the 50+ presented. On top of that, more than four hours of dedicated one-on-one time with presenters is interspersed throughout the two days.

Don’t want to make decisions? Then bring a colleague to cover the entire event — all the presentations, all the one-on-one opportunities.

Whether you’re interested in attending alone or dividing and conquering the event as a team, everyone will save an extra $100 with the FINAL discounted ticket expiring Friday, February 26. If you’re interested in attending, get your ticket soon to take advantage of these savings and lock in your spot!

FinDEVr New York is sponsored by The Bancorp.

FinDEVr New York 2016 is partnered with Acuity, Bank Innovators Council, BankersHub, The BayPay Forum, BiometricUpdate.com, Bitcoin Magazine, Bitcoinist.net, bobsguide, Breaking Banks, Byte Academy, Celent, Cognito Media, Cointelegraph, Colloquy, Emerging Payments, Empire Startups, FIDO Alliance, Global Platform, Mercator Advisory Group, Payment Week, Payments & Cards Network, SIMalliance, and Women Who Code .

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Fintech Fundings: 21 Companies Raise $215 Million Week Ending Feb 19

By Jim Bruene Posted on February 23, 2016
Categories: Funding

Although we saw one high-flying fintech unicorn crash to earth this week, the fintech sector continued to attract significant capital with 21 companies raising $214.8 million, for an $11 billion annual run rate. The total included at least $15 million in debt.

Three Finovate and FinDEVr alums raised new cash and one exited:

PayActiv raised $9.2 million for its real-time payroll solution
ModoPayments scored $2 million for its digital payments platform
Snoopwall landed a cool million for its security solutions
FlexScore was bought by United Capital

Seven weeks into the new year, fintech companies have raised $4.7 billion in equity and debt worldwide, more than double the $2.2 billion in the same period last year. And the number of deals is up 70% (167 compared to 98 in 2015).

Here are the fintech deals by size from 13 Feb to 19 Feb 2016:

StoneEagle Services (VPay)
B2B payments platform
Latest round: $76 million
Total raised: $76 million
HQ: Richardson, Texas
Tags: SMB, B2B, ACH, electronic payments, virtual card, insurance claims
Source: FT Partners

Aria Systems
Billing platform
Latest round: $50 million Series E
Total raised: $132.3 million
HQ: San Francisco, California
Tags: SMB, billing, payments, invoicing, recurring payments
Source: Crunchbase

EQIS
Wealth management platform
Latest round: $15 million Private Equity
Total raised: $21.2 million
HQ: San Rafael, California
Tags: Consumer, SMB, advisors, investing, wealth management
Source: Crunchbase

UniRush (RushCard)
Prepaid card issuer
Latest round: $15 million Debt
Total raised: Unknown
HQ: Houston, Texas
Tags: Consumer, SMB, loans, credit, lending, underwriting, personal finance management, energy-consumption management
Source: FT Partners

Marvelstone Tech
Infrastructure for financial services companies
Latest round: $12.4 million Seed
Total raised: $ million
HQ: Seoul, South Korea
Tags: Enterprise, B2B, banks, wealth managers, investment firms, core technology
Source: FT Partners

PayActiv
Real-time payroll solution
Latest round: $9.2 million
Total raised: $13 million
HQ: San Jose, California
Tags: Consumer, SMB, employers, HR, employee benefits, payments, Finovate alum
Source: Finovate

Harmoney
P2P lending marketplace
Latest round: $8.5 million Series B
Total raised: $16.2 million
HQ: Auckland, New Zealand
Tags: Consumer, lending, loans, crowdfunding, underwriting, credit, investing
Source: FT Partners

Mondo
Digital bank
Latest round: $7.25 million
Total raised: $10.4 million
HQ: London, England, U.K.
Tags: Consumer, bank, mobile, challenger, neo-bank
Source: Crunchbase

BUX
Simple stock trading platform
Latest round: $6.9 million Series
Total raised: $10.7 million
HQ: Amsterdam, Netherlands
Tags: Consumer, investing, stock trading, equities, gamification
Source: Crunchbase

AQ Metrics
Risk management and compliance software
Latest round: $3.25 million
Total raised: $3.25 million
HQ: Maynooth, Ireland
Tags: Consumer, insurance, automobile lending, cars
Source: FT Partners

StudentLoan Genius
Student loan repayment as a benefit for employers
Latest round: $3 million Seed
Total raised: $3 million
HQ: Austin, Texas
Tags: Consumer, SMB, student loans, payments, HR, employee benefit
Source: Crunchbase

ModoPayments
Digital payments plaform
Latest round: $2 million Angel
Total raised: $4 million
HQ: Richardson, Texas
Tags: Consumer, SMB, payments, merchants, funds transfer, FinDEVr alum
Source: Finovate

Chainalysis
Compliance layer for value exchange
Latest round: $1.6 million Seed
Total raised: $3.2 million
HQ: New York City
Tags: SMB, enterprise, security, privacy, blockchain, cryptocurrency, database, bitcoin
Source: Crunchbase

Covercy Technological Trading
International remittances
Latest round: $1.5 million
Total raised: $1.5 million
HQ: Tel Aviv, Israel
Tags: Consumer, SMB, payments, FX, funds transfers
Source: FT Partners

SnoopWall
Security solutions for mobile apps and online services
Latest round: $1 million
Total raised: $1.85 million
HQ: California
Tags: Consumer, SMB, security, privacy, cybersecurity, FinDEVr alum
Source: Crunchbase

HomeSpotter
Real estate discover mobile app
Latest round: $925,000 Convertible Note
Total raised: $3.95 million including above note
HQ: Minneapolis, Minnesota
Tags: Consumer, mortgage, home buying, chatbot, real estate, mobile
Source: Crunchbase

Droplet
Mobile loyalty and payments
Latest round: $640,000
Total raised: $2.73 million
HQ: London, England, UK
Tags: Consumer, SMB, rewards, payments, merchants, location-based
Source: FT Partners

Buddy
Point-of-purchase financing
Latest round: $500,000 Seed
Total raised: $500,000
HQ: Bengaluru, India
Tags: Consumer, SMB, loans, credit, lending, underwriting
Source: Crunchbase

RealKey
Home buying & mortgage process management
Latest round: $100,000 Seed ($7 million valuation)
Total raised: $100,000
HQ: California
Tags: Consumer, real estate agents, home buying, mortgage, discovery, search
Source: Crunchbase

Metromile
Pay-per-mile automobile insurance
Latest round: Not disclosed
Total raised: $14 million previously
HQ: San Francisco, California
Tags: Consumer, insurance, automobile lending, cars
Source: FT Partners

Verb
Mobile trading app
Latest round: Not disclosed
Total raised: Unknown
Tags: Consumer, investing, trading, equities
Source: Crunchbase

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Image licensed from 123rf.com

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Coinbase, Motif Investing Earn Spots on Fast Company’s Most Innovative List

By David Penn Posted on February 23, 2016
Categories: Coinbase, Motif Investing

With Coinbase and Motif Investing both winning a place on Fast Company’s list of Most Innovative Companies of 2016, it looks like bitcoin and innovations in investing remain two of fintech’s hottest trends.

Fast Company Editor Robert Safian said, “This year’s package – which includes top ten lists in 27 sectors – emphasizes the breadth of companies with progressive, agile business models, cultures of creativity, and ability to adapt in today’s fast-paced world.” Fast Company added that 2016 also marked the first year the magazine used machine intelligence – in this case, technology from a San Francisco company called Quid – to “help inform the list.” The list will be published in the March 2016 issue of the magazine.

Fast Company’s “Most Innovative” roster for 2016 headlines with familiar brands and businesses like BuzzFeed, Facebook, and CVS Health (“for becoming a one-stop health stop”). Coinbase and Motif Investing are among ten companies earning recognition in Fast Company’s Finance category: Coinbase “for making bitcoin user-friendly” and Motif Investing “for expanding its theme-based trading.”

The news comes as Coinbase CEO and co-founder Brian Armstrong made headlines in the debate over how to scale bitcoin. Armstrong favors an approach that would immediately double capacity, as opposed to other proposals that would increase capacity by as much as 4x over a longer period of time.

Last month, Coinbase announced that the 30Shift Card, a bitcoin Visa debit card launched in partnership with Shift Payments in November, had processed more than $1 million in bitcoin and had signed up more than 10,000 cardholders. Founded in 2012 and headquartered in San Francisco, Coinbase demonstrated its Instant Exchange technology at FinovateSpring 2014.

A two-time Best of Show award-winner, Motif Investing demonstrated its Advisor Platform at FinovateSpring 2014. Last month, Motif debuted its recurring transfers feature, and in October, the company partnered with JP Morgan to give investors on the Motif platform access to shares in JP Morgan-managed initial public offerings.

Founded in 2010 and headquartered in San Mateo, California, Motif Investing CEO is Hardeep Walia, who is also a co-founder.

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Blackhawk Network Names Talbott Roche New CEO

By Julie Muhn (@julieschicktanz) Posted on February 23, 2016
Categories: Blackhawk Network

Prepaid card and digital commerce company Blackhawk Network has named a new CEO. The company’s Board of Directors appointed Talbott Roche, pictured at right, who succeeds William Tauscher as the company’s chief executive.

Tauscher, who served as CEO since 2010, will continue to serve as chairman on the company’s board of directors. Regarding the transition, Tauscher states, “It has long been my intention for Talbott to one day lead the company as president and CEO, and I have supreme confidence in her abilities and leadership to carry this great organization forward.”

Roche has served as SVP of Blackhawk for five years and will continue to serve as the company’s president. She is a graduate of Stanford University.

Blackhawk went public in 2013 and has since completed nine acquisitions. The company employs 2,500 people in 24 countries.

Tomas Campos and Sheila Andres presented GoWallet at FinovateFall 2012 in New York.

At FinovateFall 2012, Blackhawk debuted GoWallet, a direct-to-consumer mobile app that helps users manage all of their prepaid cards in a single place. The app also enables customers to purchase and personalize gift cards, and offers access to special coupons and offers.

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Dream Payments Unveils Mobile Merchant Platform for Banks and Acquirers

By David Penn Posted on February 23, 2016
Categories: Dream Payments

The mobile merchant services platform from Toronto-based fintech startup Dream Payments is now available to banks and merchant acquirers. The platform gives Dream Payments the ability to provide businesses with a host of services that range from mPoS apps and merchant onboarding to payment processing and business analytics.

“With Dream, banks and acquirers can finally attract and provide mobile payment services to businesses through a cloud-based, cost-effective, and flexible platform,” Dream Payments CEO Brent Ho-Young said.

Pictured (left to right): VP for Business Development Christian Ali and COO Anant Tailor demonstrated their Dream Mobile Point of Sale (mPOS) solution at FinovateSpring 2015.

Dream Payments launched its mPoS service for merchants last year. With this move, the company shows its cloud-based platform as an option for banks and acquirers to help their customers transition from legacy systems to EMV and mPoS technology.

The company this week presented its technology at the Mobile World Congress Conference in Barcelona, Spain. The platform includes:

white-label, pre-built, iOS and Android apps for payments, receipts, product catalogs, and real-time analytics
support for EMV contact and contactless mobile payment terminals
retail distribution and remote activation capability
third party SDK

Founded in 2014 in Toronto, Ontario, Canada, Dream Payments demonstrated its mPOS solution at FinovateSpring 2015. The company, which raised $6 million in funding last spring, launched Canada’s first retail EMV mPOS terminal that accepts Interac debit card payments in October. Read our summer 2015 profile of Dream Payments.

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Finovate Alumni News

By David Penn Posted on February 23, 2016
Categories: Blackhawk Network, Bluefin Payment Systems, Cachet Financial Solutions, Check, Coinbase, Dream Payments, Fiserv, Guardian Analytics, Insuritas, iSignthis, Klarna, Motif Investing, PayPal, Pindrop Security, Qapital, Roostify, SecondMarket

On Finovate.com

Guardian Analytics Appoints New CEO.

Dream Payments Unveils Mobile Merchant Platform for Banks and Acquirers.

Blackhawk Network Names Talbott Roche New CEO.

Coinbase and Motif Investing Earn Spots on Fast Company’s Most Innovative Companies of 2016 List.

Around the web

Fiserv named to Fortune magazine’s list of the World’s Most Admired Companies in 2016.

Pindrop launches its comprehensive call center fraud-prevention platform, IVR Anti-Fraud.

Sussex County FCU picks Insuritas to deploy new insurance agency solution.

iSignthis‘ paydentity KYC service is suitable for use by businesses in the regulated sector of the Isle of Man, a global financial hub.

Inc. profiles Sweden’s Klarna and its plans for U.S. expansion.

Co-founded by former Check CMO Daniel Kjellen, MovoCash announces $700,000 seed investment.

Ingo Money partners with PayPal, adds instant check-splitting.

Roostify to integrate with zipLogix to facilitate communication between lenders and realtors.

American Banker features SecondMarket.

Qapital launches on Android.

Bluefin Payment Systems and Worldnet partner for PCI-validated P2PE on Worldnet’s payment platform.

Cachet appoints new Chief Financial Officer Bryan Meier.

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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Guardian Analytics Appoints New CEO

By Julie Muhn (@julieschicktanz) Posted on February 22, 2016
Categories: Guardian Analytics

Banking fraud prevention company Guardian Analytics appointed a new president and CEO today.

Laurent Pacalin will take the place of Terry Austin who had been with the company since 2009.

Pacalin, who holds a master’s degree in electrical engineering from the Swiss Federal Institute of Technology, is an expert in analytics, financial crime and e-Commerce. He most recently worked as Group VP of Oracle Sales Cloud. Prior to that, Pacalin served as CMO of FICO.

Additionally Pacalin is co-founder of Clean Tech Open, an accelerator for clean tech startups helping to reduce climate change.

Guardian Analytics board member Skip Glass notes a bright future with Pacalin as chief executive:

“Laurent’s leadership skills and ability to scale high-growth organizations combined with a customer-centric approach and passion for innovation will have an immediate impact on the company’s success.”

Guardian Analytics is based in Mountain View, Calif., and was founded in 2005. The company demoed its FraudXCHANGE solution at FinovateFall 2012 in New York.

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Last Call for FinovateSpring 2016 Demo Applications!

By Erika Sanchez Posted on February 22, 2016
Categories: Finovate Marketing, FinovateSpring 2016

Got a new fintech innovation you’re looking to showcase? The final application deadline to demo at FinovateSpring 2016 is coming up this Friday, February 26. After our successful (and largest) show in London, the Finovate team has recovered from jet lag and is excitedly looking toward San Jose for our upcoming conference on May 10 & 11.

Last year, FinovateSpring welcomed a record crowd of nearly 1,400 financial institution executives, venture capitalists, members of the press, industry analysts, and fintech entrepreneurs who witnessed 70+ new fintech innovations via our signature demo-only format.

This year, based on the early interest, we expect the event to grow significantly and to feature even more impressive innovations than last year.

If your company is interested in debuting your latest and greatest at the premier event for fintech innovation, please email us at spring@finovate.com for more details on applying by this week’s deadline.

And if you’re interested in attending FinovateSpring to watch the future of fintech unfold live on stage, tickets are on sale for the event at the very early-bird price through next Friday, March 4.

We’ll see you in Silicon Valley this May (or New York next month for FinDEVr 2016)!

FinovateSpring 2016 is sponsored by The Bancorp, Association for Financial Technology, and Hudson Cook.

FinovateSpring 2016 is partnered with Acuity Market Intelligence, Aite Group, Bank Innovators Council, BankersHub, Bankless Times, BayPay Forum, bobsguide, California Bankers Association, Canadian Trade Commissioner Service, Celent, The Cointelegraph, Digital Currency Council, EbankingNews, Filene Research Institute, IDC Financial Insights, Javelin, Korea FinTech Forum, Mercator Advisory Group, Payments & Cards Network, The Paypers, PitchBook, SME Finance Forum, and Western Independent Bankers.

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PayPal Unveils Carrier Partnerships & NFC Payment Capability

By Julie Muhn (@julieschicktanz) Posted on February 22, 2016
Categories: PayPal

Last week, PayPal upgraded its mobile app with a cleaner user interface, quick PIN login and other enhanced features. Today, the San Jose-based company announced further updates, powered by partnerships that will offer it access to Vodafone’s 454 million users and America Movil’s 286 million subscribers.

The payment company’s partnership with Vodafone enables European-based Vodafone wallet users to make NFC payments at brick-and-mortar POS locations. The combined solution is powered by partnerships with Raphaels Bank and Carta Worldwide.

This marks the first NFC payment availability for PayPal users, who can connect their PayPal account to their Vodafone wallet and pay using Visa or MasterCard credit and debit cards, as well as prepaid cards. To promote the new offering, Vodafone is rewarding users up to 1GB of bonus data each time they use PayPal to recharge their Prepaid Combo plan online.

VentureBeat cites Anuj Nayar, PayPal’s global head of product communications, who highlights the mutual benefit of the partnership, stating, “From PayPal’s point of view, Vodafone gets access to our integrated platform — in app, online, in-store, and can offer our services to their customers. PayPal will gain access to millions of users.”

Vodafone wallet, launched in 2013, is available in Germany, Spain, the U.K., Italy and the Netherlands. The PayPal integration is now available to users in Spain and will launch in the four remaining countries later this year.

Additionally, PayPal announced similar partnerships with Mexico-based Telcel and Brazil-based Claro (both America Movil subsidiaries). Starting this spring, the telcoms’ users will have the option to use their PayPal accounts to manage and make everyday purchases on their mobile devices.

These partnerships are a part of PayPal’s new brand campaign titled New Money, in which the company aims to showcase how it is, “enabling a faster, simpler and more inclusive way for people to manage and move money, whether online, in-app, in store or in new contexts.”

At the end of 2015, PayPal counted 179 million active users. Dan Schulman is CEO.

Next month FinDEVr New York 2016 will feature a presentation from PayPal’s Braintree (along with 50+ other fintech companies) that will showcase new trends and tools for developers. Check it out and register today.

Braintree last presented at FinDEVr San Francisco 2015 and at FinovateSpring 2013 in San Jose.

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Lendio’s CEO Brock Blake and CTO Trent Miskin presented at FinovateSpring 2o11.

—– Image licensed from 123rf.com

Tomas Campos and Sheila Andres presented GoWallet at FinovateFall 2012 in New York.

Pictured (left to right): VP for Business Development Christian Ali and COO Anant Tailor demonstrated their Dream Mobile Point of Sale (mPOS) solution at FinovateSpring 2015.

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Image licensed from 123rf.com