LendUp Raises $150 Million in Series B, Expanded Credit Facility

LendUp Raises $150 Million in Series B, Expanded Credit Facility
By David Penn Posted on
Categories: Funding, Fundings, LendUp

LendUp_homepage_Jan2016

San Francisco-based alternative lender LendUp has raised $150 million in a combined Series B funding round and expanded credit facility.

The Series B, which involved participation from “almost all” of LendUp’s existing investors, was led by Susa Ventures and Data Collective. Victory Park Capital participated in the investment, as well as providing LendUp with a second credit facility. According to LendUp CEO Sasha Orloff, the expanded credit facility will help the company provide new “national products” and reach more customers.

LendUp_stage_FS2014

From left: LendUp Co-founder Sasha Orloff and CTO Jacob Rosenberg demonstrated their platform at FinovateSpring 2014.

Founded in 2011 and launched the following year, LendUp specializes in providing credit products to the millions of U.S. consumers who aren’t able to borrow from traditional banks. These products include the LendUp Ladder, an alternative to payday loans that helps borrowers rebuild their credit, and a new credit card business, the L Card, launched last year.

Named one of “30 Hot Fintech Startups to Watch” by Fox Business in June 2015, and earning a spot on AlwaysOn’s On Finance Top 100 in April 2015, LendUp demonstrated its platform at FinovateSpring 2014. The company has more than 130 employees and anticipates doubling staff by the end of the year.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: additiv, AdviceGames, AlphaPoint, Capital Preferences, eWise, Fiserv, LendUp, Payoneer, Socure, TaxFree4U, Tradeshift, Valuto

On Finovate.com

  • “LendUp Raises $150 Million in Series B; Expanded Credit Facility”
  • “Fiserv Buys ACI Worldwide’s Community Financial Services Division for $200 Million”

Around the web

  • Tradeshift partners with (RED) to facilitate donations to the Global Fund to fight AIDS, tuberculosis and malaria.
  • Payoneer selects AU10TIX to enhance online customer ID authentication and record generation.
  • AlphaPoint appoints Scott Scalf as EVP of Development Operations.

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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Finovate’s European Alums Raised More Than $350 Million in 2015

Finovate’s European Alums Raised More Than $350 Million in 2015
By David Penn Posted on
Categories: AdviceGames, Aire, Azimo, Bitbond, CashSentinel, Currency Cloud, CurrencyFair, eToro, EZBOB, Fenergo, Figo, FreeAgent, Funding, Fundings, Kantox, Kreditech, Revolut, StockViews, SumUp, TransferWise, Xpenditure

Euros_purple

Nineteen Finovate alums headquartered in Europe raised $350 million in 2015.

From the $16,000 in seed money raised by U.K. startup, StockViews, to the €82 million investment received by Germany’s Kreditech, we’ve counted every euro, pound, and dollar that investors poured into our European alums. And whether the funding represented an initial infusion of capital or was part of a multi-stage Series E round, it is clear that investors are very interested in the fintech innovations of Europe.

Take a look for yourself at the “European Portfolio” from 2015 below, featuring Finovate alums from the United Kingdom, Ireland, Germany, Switzerland, and the Netherlands.

GermanFlagGermany

 

Ireland_FlagIreland

 

Netherlands_FlagThe Netherlands

 

 

Switzerland_Flag

 

Switzerland

 

 

UK_FlagUnited Kingdom

There’s still time to join us in London for FinovateEurope! Our two-day conference returns to Old Billingsgate Market Hall, February 9 and 10. Get your tickets today and save your spot.

 

 

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Motif Investing Launches Recurring Transfers

Motif Investing Launches Recurring Transfers
By Julie Muhn (@julieschicktanz) Posted on
Categories: Motif Investing

MotifHomepage

Motif Investing, an online thematic investment broker, added a new feature today that will simplify the lives of investors.

The company now lets users set up recurring transfers to and from their Motif account. The set up is simple. Users outline criteria such as amount and frequency of ACH transfers.

MotifRecurringTransfer

Because recurring transfers are mindless, the “set it and forget it” approach of the new feature has the potential to increase assets under management for the San Mateo-based company.

Motif’s unique investment platform enables users to invest in collections of stocks and ETFs centered around ideas or investment strategies of personal interest. Late last fall the company introduced Motif Capital Management, a subsidiary that manages thematic investments for private wealth management and investment companies, endowments, and family offices.

Motif, which was founded in 2010, is currently available only to U.S. investors; however, the company has disclosed plans to launch internationally in early 2016.

MotifAdvisor

At FinovateSpring 2014, the company debuted its advisor platform (above) to help advisors build, monitor and rebalance portfolios, as well as share portfolio insights with clients.

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Narrative Science Introduces Narratives for Qlik

Narrative Science Introduces Narratives for Qlik
By David Penn Posted on
Categories: Narrative Science

NarrativeScience_Qlik_homepage_Jan2016

Narrative Science is bringing its natural-language-generation technology to Qlik Sense, adding intelligent narratives, intuitive analysis, and insights to Qlik’s data-visualization platform.

Calling the collaboration an example of Qlik’s “leadership in the data discovery industry,” Narrative Science CEO Stuart Frankel sees businesses and industries embracing NLG.

“The next generation of smart data discovery platforms will include natural language generation capabilities to explain findings to users,” Frankel said. “It is just a matter of time before this is a mandatory capability of visualization and business intelligence applications.”

NarrativeScience_Qlik_videoshot

(Click image to play video)

Qlik specializes in visual analytics and business intelligence, ranging from reporting and self-service solutions to guided, embedded, and custom analysis. With the company’s technology, businesses can build drag-and-drop visualizations, create apps, and embed analytics into their websites and apps using both open and standard platform APIs. With offices worldwide and partners in more than 100 locations, Qlik is headquartered in Radnor, Pennsylvania, and trades on the NASDAQ under the ticker “QLIK.”

Narratives for Qlik automatically creates dynamic narratives that help illuminate key points in Qlik’s data visualizations. Moreover, Narratives for Qlik not only explains what the charts and graphs show, but also helps users discover non-obvious patterns and relationships in the data. Industry analyst Seth Grimes called the technology “a groundbreaking BI innovation,” adding that “the tight link to Qlik’s associative analysis and its personalization possibilities are pluses, but it’s the ability to provide a new means of communicating insights that is really compelling.”

Narratives for Qlik is available for download.

Founded in January 2010 and headquartered in Chicago, Narrative Science demonstrated Quill Financial at FinovateFall 2013. In November, Narrative Science unveiled its anti-money laundering solution, Quill for AML, and in September, the company launched a new version of its Quill Engage technology for Google Analytics. Last summer, Narrative Science released its Quill Portfolio Review solution, which helps money managers create better institutional portfolio commentary.

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BlueVine Raises $40 Million in Round Led by Menlo Ventures

BlueVine Raises $40 Million in Round Led by Menlo Ventures
By David Penn Posted on
Categories: BlueVine, Funding, Fundings

BlueVine_homepage_Jan2016

BlueVine, a startup that provides financing for small businesses, has raked in $40 million in new funding. The Series C round, led by Menlo Ventures, featured participation from new investor, Rakuten, and boosts BlueVine’s total capital to more than $64 million.

In a post at the company blog, BlueVine founder, CEO Eyal Lifshitz, said the investment would help “bolster its management ranks” as well as drive new feature development and exploration of new verticals. “With this capital infusion,” Lifshitz said, “our team is excited to work with more SMB owners to solve their cash-flow challenges on a greater scale.” BlueVine also announced an expansion of its maximum credit line from $150,000 to $250,000.

BlueVine_stage_FF2014

From left: BlueVine VP of Operations Edward Castano and CEO Eyal Lifshitz demonstrated their platform at FinovateFall 2014 in New York.

BlueVine specializes in cloud-based “invoice financing,” also called “factoring.” The practice helps small- and medium-sized businesses manage cash flow and payment cycles by advancing cash against outstanding invoices via a simple, online solution. BlueVine enables SMEs to get paid on “day one” for invoices due in 15-90 days with credit lines starting at $5,000. BlueVine reported a 12-fold increase in funded invoices in 2015 and expects to fund more than $200 million in working capital in 2016. Tyler Sosin of Menlo Ventures praised the company for “bringing automation and a modern web experience to factoring, a massive market that has yet to be optimized by technology.”

Founded in July 2013 and headquartered in Palo Alto, California, BlueVine demonstrated its technology at FinovateFall 2014. BlueVine’s approach to factoring was profiled by PYMNTS.com in September and, in February, the company was highlighted by Fast Company as one of “The World’s Top 10 Most Innovative Companies of 2015 in Money.”

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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: Arxan Technologies, Avoka, FinDEVr, FinDEVr APIntelligence, InComm, PayPal

FinDEVrNY16-V2(wdate)We’re taking our FinDEVr developer showcase to New York on March 29 & 30, 2016. Register today.

Developer news

The latest from FinDEVr San Francisco 2015 presenters

  • eWeek quotes Arxan CMO Patrick Kehoe on the problem of app security on health and finance apps.
  • PayPal taps into Bitcoin by adding Wences Casares to its board.

Alumni Updates

  • InComm to launch digital open-loop prepaid products for distribution as part of incentive and loyalty programs.
  • Avoka featured in roundup of Australia fintech startups.

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
Categories: BlueVine, Cachet Financial Solutions, InComm, Insuritas, Motif Investing, Narrative Science

On Finovate.com

  • Check out the latest “FinDEVr APIntelligence”
  • “Narrative Science Introduces Narratives for Qlik“
  • “BlueVine Raises $40 Million in Round Led by Menlo Ventures”
  • “Motif Investing Launches Recurring Transfers”
  • “Finovate’s European Alums Raised More than $350 Million in 2015″

Around the web

  • Insuritas to power insurance agency in two states for Sterling Federal Bank.
  • InComm to launch digital open-loop, prepaid products for distribution as part of incentive and loyalty programs.
  • Top U.S. bank to upgrade to Cachet Financial Solutions’ enhanced Select Business Merchant Capture solution.

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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FinovateEurope Sneak Peek: ING Bank & Uselab

FinovateEurope Sneak Peek: ING Bank & Uselab
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2016, FinovateEurope 2016 Sneak Peek, ING Bank, Uselab

INGHomepage

 

FEULogowithDateA look at the companies demoing live to 1,500 fintech professionals. Register today.

 

ING Bank Śląski, co-presenting with Uselab, has created the first holistic corporate banking ecosystem, ING Business, providing our business customers with a truly omnichannel experience.

Features

  • Mobile-first design, works on all devices
  • Pre-defined customer dashboards
  • The utmost standards in user experience

Why it’s great
ING Business ensures uninterrupted, seamless support for the company’s business processes while transforming customer-experience standards from individual e-banking to the B2B world.

INGPresenter1Presenters

Adam Walendziewski, Deputy Director of Direct Distribution Channels at ING Bank Śląski
More than a decade of experience in product development and project management; visionary internet and mobile solutions for corporate clients. Passionate about adapting new trends in technology to daily business.
LinkedIn

INGpresenter2Bartosz Dobrowolski, Customer Success Director at Uselab
More than 10 years’ experience in vision development and innovative product design. Loves people and strives to work closely to ensure products provide real business value.
LinkedIn

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FinovateEurope Sneak Peek: investUP

FinovateEurope Sneak Peek: investUP
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2016, FinovateEurope 2016 Sneak Peek, investUP

InvestUpHomepage


FEULogowithDateA look at the companies demoing live to 1,500 fintech professionals. Register today. 

 

investUP is making investing an everyday thing. Our users can lend money and buy shares across more than 24 crowdfunding and P2P sites.

Features

  • clubUP: users can follow other investors
  • Super Slick Search: users can sift through hundreds of deals quickly
  • Robo-lending: automated lending for busy, everyday people

Why it’s great
investUP is focused on putting the crowd back into crowdfunding. We’ve created clubUP, a social investing platform for crowdfunding and P2P investors.InvestUpPresenter1

Presenters

James Tuckett, CEO and co-founder
Entrepreneur, crowdfunding evangelical, tech geek and massive space enthusiast.
LinkedIn

InvestUpPresenter2Dom Wolf, CMO and co-founder
Wide experience in brand development for telco giants. Obsessed with making investing brutally simple to understand.
LinkedIn

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Larky Launches at Three New Credit Unions

Larky Launches at Three New Credit Unions
By Julie Muhn (@julieschicktanz) Posted on
Categories: Larky

LarkyHomepage2

Pure-play loyalty and rewards startups face a challenging battle: the need to please two masters, banks and merchants.

Location-based, loyalty platform Larky has been up to the challenge since its founding in 2012. The startup recently expanded its client base to include three additional credit unions:

  • Wisconson-based Summit CU
  • Maine Savings FCU
  • Utah-based Goldenwest CU

The inclusion of Maine Savings FCU is a significant benchmark for Larky as it now reaches coast-to-coast across North America. Company co-founder Gregg Hammerman says Larky recently signed its first client in Canada and anticipates further international expansion. He notes the momentum being gained with financial institutions across North America, and reports that over the past year, Larky has made dozens of meaningful product improvements to meet the needs of credit unions that want to boost member loyalty and retention.LarkyMobileAlert

The Ann Arbor-based company’s web-and-mobile loyalty platform offers users discounts at the point of sale of both local and national merchants. The location-based, bank-branded alerts help banks stay top-of-wallet while offering users instant savings without changing their purchasing behavior.

When asked about the company’s plans for 2016, Hammerman noted Larky’s focus on refining how it serves up location-based notifications, and to further hone the company’s niche in customizable notifications.

LarkyDemoLarky’s co-founders Andrew Bank and Gregg Hammerman demoed at FinovateFall 2014 in New York.

Since its appearance at FinovateFall 2014, Larky has expanded the types of industries it serves, adding paid pilots with publishers, health insurance providers, and other verticals.

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FinovateEurope Sneak Peek: Meniga

FinovateEurope Sneak Peek: Meniga
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2016, FinovateEurope 2016 Sneak Peek, Meniga

MenigaHomepage


FEULogowithDateA look at the companies demoing live to 1,500 fintech professionals. Register today. 

 

Meniga is the European market leader of next-generation online banking solutions. Its award winning software helps banks across the world improve and expand their digital banking user experience

Features

  • To provide a highly personalized user experience for online and mobile banking
  • To segment services based on spending behavior and financial situation
  • To deliver the right message to the right customer at the right time

Why it’s great
Meniga’s PFM data-driven personalization platform uses data and machine-learning-driven segmentation to allow banks to offer a highly personalized and inspiring user experience.

MenigaPresenter1Presenters

Georg Ludviksson, CEO and Co-Founder
Georg is a Harvard MBA and accomplished technology entrepreneur with more than 15 years of experience of founding, building and managing software companies with a global perspective
LinkedIn

MenigaPresenter2Einar Thor Gustafsson, Vice President of Product Management
An interaction and information designer with a special focus on financial data and digital banking. For more than 15 years Einar has been building products and leading global digital strategies.
LinkedIn

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