Azimo Launches New Service in 10 Countries in Africa, Asia-Pacific

Azimo Launches New Service in 10 Countries in Africa, Asia-Pacific

Azimo_homepage_Jul2015

In partnership with HomeSend, a global remittance hub jointly developed by MasterCard, eServGlobal, and BICS, Azimo has added ten countries in Africa and the Asia-Pacific to the roster of nearly 200 countries its European customers can send money to.

HomeSend CEO Stephen Doyle credited Azimo’s “convenience, security, competitive pricing, and near-instant delivery” in explaining why the partnership makes sense. Founder and CEO of Azimo Michael Kent pointed out that his company now provides services ranging from cash payout to home-delivery money services. “This tie up with HomeSend to offer more mobile wallet services is a major step on our journey,” Kent said.

The new countries are Armenia, Burkina Faso, Fiji, Ghana, Indonesia, Kenya, Nepal, Nigeria, the Philippines, and Somaliland.

Azimo_stage_FEU13

From left: Azimo co-founders, CTO Marek Wawro and CEO Michael Kent demonstrated at FinovateEurope 2013 in London.

HomeSend provides a centralized location for B3B cross-border and cross-network value-exchanges and transfers. The service enables finance and telecom service providers to offer their customers the ability to send money to mobile money accounts, payment cards, bank accounts, and cash kiosks. HomeSend was named “Best Payment Product in Africa” at the Asian Banker Middle East and Africa Awards 2015.

Companies like Azimo have played a major part in the investment boom in technology in the United Kingdom in general and London in specific. Azimo was profiled earlier this year in both The Guardian and Tech City News, and was a finalist at the Fintech Innovation Awards 2015. Azimo supports more than 70 different currencies and is partnered with more than 20,000 banks around the world.

Founded in January 2012 and headquartered in London, Azimo demonstrated its social remittance network at FinovateEurope 2013. The company has raised more than $30 million in funding, giving it a valuation of $100 million.

Finovate Alumni News

On Finovate.com

  • “Platform-as-a-Service Specialist Apprenda Raises $24 Million”
  • “Azimo Launches New Service in 10 Countries in Africa, Asia-Pacific”

Around the web

  • Irish Tech News interviews Neil Costigan, BehavioSec CEO.
  • InComm partners with Gemalto to offer a secure, prepaid mobile NFC-payment option.
  • Zooz partners with Cardinal Commerce to offer Cardinal Consumer Authentication (CCA) to the Zooz merchant base.
  • CNBC highlights how Northwestern Mutual’s LearnVest attracts millennials.
  • Denver Community Credit Union to install Insuritas’ insurance-agency solution for its 25,000+ members.
  • Daily Life Tips highlights Ayondo as the best online trading platform for beginners.
  • “Tradeshift Partners with EcoVadis to Bring Reliable Supplier Sustainability Ratings to Global Platform”
  • “Cachet Financial Solutions and Access Development Partner to Enhance Mobile Commerce for Financial Institutions Across America”
  • Trulioo appoints former Experian GM as president.
  • FutureAdvisor launches its online investment library.
  • eMerchantPay teams up with iSignthis to offer AML and KYC compliance to its merchants.
  • PYMNTS.com interviews David Disque, managing director of CSI globalVCard.

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.

Revolut Launches to Public, Announces $2.3 Million in Funding

Revolut Launches to Public, Announces $2.3 Million in Funding

RevolutHomepage

Today, Revolut is publicly launching its money-remittance platform and multicurrency card that lets users spend and exchange money at interbank rates in real-time. The London-based company is also announcing $2.3 million of new funding from a Venture Round led by Balderton Capital, with participation from SeedCamp.

This brings the startup’s total funding to $2.8 million.

RevolutApp

Revolut’s multicurrency card and mobile-remittance platform eliminate the middlemen to enable users to exchange money in real time, and at a better rate than they would otherwise receive at a traditional bank. The service is aimed at travelers and remittance customers, who transfer money using the free app, SMS, Whatsapp, and social media channels.RevolutCard

The Revolut card is free, and can be used at any location MasterCard is accepted. When swiped, the card automatically converts into the local currency at the best interbank rate.

On top of all this, no ATM fees are associated with the Revolut card. And in case the card is lost or stolen, the mobile app has a remote card-blocking feature that lets users cancel the card.

While the app is available to users across the globe, the card distribution is limited to Europe (though users can make purchases globally).

What’s next? The Revolut card will soon enable customers to pay at a brick-and-mortar shops using bitcoin.

Revolut debuted its multicurrency card and remittance platform at FinovateEurope 2015 in London. Check out its live demo video.

Dashlane Integrates Samsung Biometric Technology in Android App Upgrade

Dashlane Integrates Samsung Biometric Technology in Android App Upgrade

Dashlane_homepage_Jul15

In integrating Samsung’s fingerprint biometric technology to its Android app, Dashlane’s password-management platform can now be used with all Samsung devices, including Galaxy S6 and S5, Note 4, and Note Edge.

Download the upgraded app here.

The decision to focus on the Android ecosystem was no accident. Dashlane’s platform has been iOS compatible since late May 2015, and company CEO Emmanuel Schalit said the company had been planning to focus on a version for Android users as soon as possible. “The adoption of biometric technology in the Android ecosystem is just the latest example of our aggressive product roadmap,” Schalit said. “We made a strategic decision, after closing our B round twelve months ago, to put as many resources into product development as possible.”

Dashlane_stage_FEU13

From left: Dashlane’s Nishant Mani, VP of partnerships and marketing, and CEO Emmanuel Schalit presented at FinovateEurope 2013 in London.

Interestingly, company CEO Schalit has written critically about the reliance on biometric technology, pointing out in a spring column that “unlike passwords, biometric data that has been stolen cannot be changed.” On the other hand, Anna Drennan, product marketing manager, this week suggested on the Dashlane blog that the combination of passwords and biometric authentication was a winning solution for Dashlane’s more than 2 million users.

Dashlane enables consumers to store passwords, credit cards, and digital wallets in one secure location. Logging in and accessing websites is faster and easier with Dashlane, and the technology can be used to make secure online payments while on the go. The platform is free to use, with a premium version available for $40 a year that adds cross-device syncing, secure cloud backup, and enhanced support.

Founded in 2009 by Bernard Liautaud, Dashlane has offices in both New York City, and Paris, France. The company has raised more than $30 million in funding, and includes Bessemer Venture Partners, FirstMark Capital, and Rho Ventures, among its investors. Dashlane demonstrated its password-management platform at FinovateEurope 2013 in London.

Finovate Alumni News

On Finovate.com

  • “Dashlane Integrates Samsung Biometric Technology in Android App Upgrade”
  • “Revolut Launches to Public, Announces $2.3 Million in Funding”

Around the web

  • PYMNTS looks at OnDeck’s record-breaking quarter.
  • Red Herring names Kabbage a Top 100 Private Company.
  • Geezeo to power BankMobile’s PFM.
  • Alpha Payments Cloud using Snapcard to enable AlphaHub users to accept Bitcoin payments.
  • PrivatBank to offer remittance services courtesy of TransferWise.
  • StockViews earns a spot in the 2015 Startupbootcamp FinTech London cohort.
  • ING Bank Slaski launches ING Business for Apple Watch app powered by Comarch Mobile Banking.
  • Caltech Letter interviews Financeit CEO Michael Garrity.
  • The Indian Express profiles the biometric authentication technology of EyeVerify.
  • Aragon Research names eSignLive by Silanis Technology as a “Hot Vendor” in digital transaction management (DTM).
  • peerTransfer petitions Chinese government to open office in Shanghai.
  • The Independent looks at the IPO plans of Fenergo in light of the company’s recent funding.
  • Investment News highlights Vanguard, Wealthfront, and Betterment in a look at how much money is being managed by robo-advisors.
  • Spreedly surpasses $1 billion in annual payment volume. Come see Spreedly at FinDEVr, 6/7 October in San Francisco.
  • Expensify integrates with Workato to connect it with more than 50 business apps.
  • CheckPoint’s ZoneAlarm Launches Windows 10 Compatible Antivirus Software for Consumers.
  • The Mifos Initiative joins The Open Source Initiative, a global nonprofit that promotes and protects open source software, development and communities. Check out Mifos at FinDEVr 2015 in San Francisco, 6/7 October.
  • Stuart Frankel of Narrative Science earns a spot on Crain’s Chicago Business Tech 50.
  • USA Today column on personal finance for millennials features Kai Stinchcombe, CEO and co-founder of True Link.
  • Business Insider includes Lending Club and Coinbase in its list of the seven hottest startups in Silicon Valley.
  • Blooom and Future Advisor are profiled in a Forbes column on making the most out of your 401(k).

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.

Fintech Fundings: 21 Companies Raise $300 Million Week Ending July 17

Fintech Fundings: 21 Companies Raise $300 Million Week Ending July 17

wsj_vc_investingThe Wall Street Journal reported yesterday that venture fundings of $19.2 billion in Q2 were just shy of the peak dot-c0m era (see inset). While the data wasn’t broken out by sector, I’d wager that last quarter’s $5 billion in fintech-startup funding was 5x to 10x more than in 1999/2000. Is there too much being invested? Maybe. But at least in fintech, there are vast opportunities to improve existing processes and open new markets.

Overall, it was another interesting week with Finovate alums prominently represented, accounting for nearly half (46%) of the $295 million invested globally in the fintech sector. Congratulations to Fenergo ($75 million); RealtyMogul ($35 million); Fastacash ($15 million); and Maluazai ($11 million).

In total, 21 companies raised $295.5 million, all in equity (as far as we know).

Here are the fundings from 11 July through 17 July 2015 in order of magnitude:

Fenergo
Regulatory compliance solutions for new account opening
HQ: Dublin, Ireland
Latest round: $75 million
Total raised: $80.4 million
Tags: Onboarding, compliance, KYC, account opening, Finovate alum
Source: Finovate

Ethoca
Merchant-issuer collaboration software
HQ: Toronto, Ontario, Canada
Latest round: $45 million
Total raised: $45 million
Tags: Security, merchant, card acquiring
Source: FT Partners

RealtyMogul
Marketplace lender for real estate projects
HQ: Los Angeles, California
Latest round: $35 million
Total raised: $45.1 million
Tags: Crowdfunding, mortgage, commercial real estate, P2P, person-to-person, lending, consumer, Finovate alum
Source: Finovate

Upstart
Online alt-lender
HQ: Palo Alto, California
Latest round: $35 million
Total raised: $42.7 million
Tags: Lending, near-prime, underwriting, consumer, loans
Source: Crunchbase

AcadiaSoft
Margin-call automation software
HQ:Pembroke, Massachusetts
Latest round: $30 million
Total raised: $34 million
Tags: Investing, credit, lending, margin, securities
Source: Boston Business Journal

Credit Benchmark
Independent source of consensus credit risk
HQ: London, United Kingdom
Latest round: $20 million
Total raised: $27 million
Tags: Underwriting, risk management, compliance, investing, enterprise, B2B
Source: FT Partners

Fastacash
Money and value-transfer platform
HQ: Singapore
Latest round: $15 million
Total raised: $23 million
Tags: Payments, social, mobile
Source: Finovate

Malauzai
Mobile banking platform
HQ: Austin, Texas
Latest round: $11 million
Total raised: $24 million
Tags: Digital banking, mobile
Source: Finovate

FlyPay
Mobile payment system for restaurants
HQ: Islington, England, United Kingdom
Latest round: $10.7 million Series A
Total raised: $12.4 million
Tags: Payments, mobile, mPOS, point of sale, acquiring, cards
Source: Crunchbase

Blender
Israel-based P2P loan platform
HQ: Tel Aviv, Israel
Latest round: $5 million Series A
Total raised: $5 million
Tags: P2P, lending, consumer, loans, underwriting, investing, marketplace lender
Source: Crunchbase More background: Pymnts

Estimize
Open earnings forecasts platform for investors
HQ: New York City, New York
Latest round: $3.6 million
Total raised: $6.2 million
Tags: Investing information, valuations, trading, stocks, crowdsourced, financials
Source: Crunchbase

TradingView
Investment information and research
HQ: Chicago, Illinois
Latest round: $3.6 million
Total raised: $4.3 million
Tags: Investing, research, trading, stock market
Source: Crunchbase

ClassWallet
Money-management solution for the classroom
HQ: Miami, Florida
Latest round: $1.9 million
Total raised: $3.1 million
Tags: Payments, wallet, education
Source: Crunchbase

QuikWallet (LivQuik)
Mobile point-of-sale system
Mumbai, India
Latest round: $1.6 million Seed
Total raised: $2.1 million
Tags: Payments, mobile, mPOS, merchants, acquiring, cards, SMB
Source: FirstPost

ShoCard
Identity verification via the blockchain
Latest round: $1.5 million Seed
Total raised: $1.5 million
Tags: Security, account opening, consumer, ID theft, privacy
Source: TechCrunch

Privitar
Big-data analytics for financial institutions
HQ: London, United Kingdom
Latest round: $1 million
Total raised: $1 million
Tags: Data analytics, business intelligence, BI
Source: FT Partners

Airbitz
Bitcoin wallet
HQ: San Diego, California
Latest round: $450,000
Total raised: $ million
Tags: Bitcoin, virtual currency, blockchain, mobile wallet
Source: FT Partners

GiftStarter
Platform for group gifting and payments
HQ: Seattle, Washington
Latest round: $125,000 Seed
Total raised: $160,000
Tags: Payments
Source: Crunchbase

Enepath
VoIP trading solutions
HQ: Singapore
Latest round: Undisclosed
Total raised: Unknown
Tags: Communications, VoIP
Source: FT Partners

LinQpay (unknown URL)
Digital payments solutions
HQ: Malta
Latest round: Undisclosed Seed ($10 million valuation)
Total raised: Unknown
Tags: Payments, prepaid cards, digital banking, mobile, global payments
Source: Crunchbase

MDX Technology
Market data solutions
HQ: London, United Kingdom
Latest round: Undisclosed
Total raised: Unknown
Tags: Trading, investing, enterprise, information
Source: FT Partners

 

 

Finovate Alumni News

On Finovate.com

  • “FinovateFall 2015 Presenting Companies Announced

Around the web

  • Pymnts interviews Karmic Labs CEO Ryan Weidenmiller.
  • Kony Announces Asia Pacific and Japan Expansion.
  • Bankless Times features Cloud Lending Solutions.
  • Let’s Talk Payments names multiple FinDEVr alums in its list of 29 APIs to Consider Before Building Any Fintech Product.
  • Betterment, Financial Guard, Personal Capital, Vanguard, and Wealthfront are featured in a Bloomberg Business column on options for new investors.
  • Samsung introduces its Loop-equipped Samsung Pay app in South Korea.
  • Tamebay interviews Peter Plewman, CurrencyTransfer.com director, on the volatility of the euro.
  • Trulioo taps identity and fraud specialist, Jon Jones, as new company president.
  • Business Insider looks at “transformative” fintech leadership at companies like Braintree, Coinbase, PayPal, SamsungPay (with Loop), and Venmo.
  • Forbes highlights Zopa in its review of the growth of P2P lending in the United Kingdom.

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.

FinovateFall 2015 Presenting Companies Announced

FinovateFall 2015 Presenting Companies Announced

FF15RegistrationIMG

Since we received the highest-ever number of applications to demo during our FinovateFall conference in New York, we quickly discovered that electing presenters would not be easy. After a month-long screening process, we narrowed the pile to the newest and most innovative ideas in fintech.

Today, we’re revealing the first group of companies that will take the stage at the event.

Don’t miss your chance to see all of these companies, and more, demo their technology live. Tickets have been selling fast for the event, which will be held 16/17 September at the New York Hilton Midtown. See you there!

FF2015LogoRevLarge

Advisor Software uses APIs and apps in a hybrid cloud architecture to steer investment advisers away from traditional wealth-management software that’s too rigid, difficult to integrate, expensive, and hard to scale.

Alfa-Bank’s Sense Financial Advisor brings personalization to larger universal banks by using big data analysis and artificial intelligence.

Avoka offers a rapidly deployed, omnichannel customer onboarding and engagement software with a simplified customer interface to help financial institutions better cross-sell.

BehavioSec’s BehavioMobile offers fraud detection by monitoring device rhythm and interaction patterns that are unique to each end user.

Big Data Scoring’s credit scoring methods help the consumer credit industry by using publicly available, unstructured data to evaluate clients without traditional credit bureau data.

Blockstack’s software platform uses private blockchains to eliminate back-office inefficiencies for financial services firms.

The Buzz Points mobile app and merchant portal benefits local financial institutions and local businesses by creating a currency to incentivize account holders.

Capriza uses an enterprisemobility platform to solve for complex, customized, desktop-only workflows using zero coding, APIs, application upgrades, or integrations.

Credit Karma will launch a free and efficient mobile app to remove the complexities of understanding and managing credit and personal finance for U.S. consumers.

Crowdability is a screening tool to help individual investors rapidly filter thousands of private start-up deals using a proprietary algorithm developed in conjunction with top angels and venture capitalists.

D3 Banking has developed Small Business Banking to bring omnichannel, data-driven, digital banking solutions to financial institutions’ small business customers.

DAVO Technologies’ automated technology solution solves small- to mid-sized merchants’ sales-tax pain-points.

Dynamics’ Next Generation Payment Cards crack a 30-year lack of card innovation by embedding full computer architecture inside a payments card.

ebankit’s banking solution uses the latest technologies to offer a unified experience across channels with a holistic view.

Eco-Mail’s exchange-based technology eliminates physical mail delivery for mailers, consumers and large enterprises by using its proprietary platform to eliminate paper-based B2B, C2B and B2C mail.

Euronovate’s new generation pad offers customers strong authentication.

Fern Software’s FaaS system incorporates free-standing apps to offer tools from vendors with no core system.

Finanteq’s white-label SUPERWALLET helps banks take full advantage of their potential by integrating m-commerce and remote services with mobile banking apps.

First Performance’s communication and processing platform offers financial institutions a more direct issuer-to-cardholder engagement solution that solves the problem of decreased card usage due to fraud-related concerns.

Fiserv’s Digital Banking Solution helps financial institutions deal with the continuously increasing demand to create a banking experience with impact for end users.

Flybits’ cloud-based, context-aware technology steers companies away from generic content and manual searching on mobile apps.

Gro Solution’s account-opening solution uses a concise workflow and multilayered approach to solve high mobile abandonment for financial institutions.

Hedgeable’s NEXT Partner Network makes private banking platforms available to millennials.

HelloWallet’s Retirement Explorer brings high-quality, user-friendly retirement guidance to 401(k) participants.

Hypori’s Virtual Mobile Infrastructure brings a defense architecture to enterprises’ Bring Your Own Device (BYOD) policies.

ID Analytics brings patented analytics and real-time behavioral insight to consumer risk management.

Lexmark’s Kofax brings retail banking customers a real-time, voice driven, voice response, collaborative onboarding solution in a mobile app.

Ldger offers its distributed ledger technology to modern credit market investors and originators to avoid inefficiencies in traditional capital market processes.

LiftForward’s SaaS analyzes consumer or business credit default risk to help a business determine whether to provide terms or credit to its customers.

LiquidLandscape is an interactive notebook that uses data visualization to prevent financial decision-makers from drowning in data.

Mogl’s card-linked-offer technology bridges the gap between online to offline commerce for businesses across the country.

North Side offers a more natural, fun, and efficient natural language interface that enables banks to know their customers better and sell them credit, investment and cash-management services.

Novabase offers wealth clients and their financial advisers a customizable app ecosystem that enables engagement for self-service clients along with adviser contact.

PaySwag helps lenders, municipalities, utilities, medical and other creditors collect delinquent payments from the underbanked using a gamified mobile application combining payments with cash or cards, financial education, communication, payment plans, and rewards.

Quisk’s digital cash payment and integrated marketing and loyalty solution uses its patented, cloud-based software platform that enables a simple, secure and convenient solution.

RMS distributes its referral and rewards platform consumer channels online, and via a mobile app.

SaleMove’s live engagement platform makes it easier for financial institutions to sell and service complex financial service products online by using instant video chat and guided browsing.

Sliced Investing is an online platform that provides accredited investors access to alternative investments, such as curated hedge funds, private equity and late-stage private-company investments.

Socure’s solution for consumers and companies facing ever-increasing challenges with usernames, passwords, and verification employs facial biometrics technology.

Soundpays‘ universal mobile wallet enables users to pay online, in-store and on TV with a single app that uses sound waves to initiate a transaction.

Thetaray helps financial institutions with fraud detection and credit-risk reduction by using its anomaly-detection algorithm that leverages big data analytics in real time.

TransferTo’s Mobile Money Hub offers money-transfer operators a solution that enables developing markets to send money remittances via mobile.

Tranwall offers card issuers, processors, and corporations a card payment control solution.

Trulioo’s GlobalGateway helps fintech companies with the electronic identity-verification process by using its AML/KYC-compliant ID verification and normalized API.

Urban FT’s white-label, digital banking solution helps smaller and regional banks and credit unions to compete with larger FIs by enabling them to create, customize, and edit digital solutions for each card program via its Platform Management Portal.

Voitrax’s trade reconstruction engine uses transcription, machine learning and natural language processing to help financial institutions comply with regulations by enabling them to provide trade reconstruction reports in real time.

Walletron’s moBills mobile wallet, data integration and push notifications help any biller deal with today’s underwhelming mobile bill presentment and payment options.

Xignite’s cloud-based market-data APIs help financial services, media, software and corporate developers simplify the complexity of sourcing and integrating market data.

Xpenditure solves the hassle of expenses by eliminating the expense claim as it’s known today for businesses of all sizes.

Yseop’s Smart BI helps analysts, advisers and bankers draw insights from financial data in real time using self-service products.


FinovateFall is sponsored by The Bancorp, CapitalSource, Envestment, Financial Technology Partners, Hudson Cook, KPMG, and Zions SBIC.

FinovateFall is partners with Aite, American Bankers Association, Bank Innovators Council,BankersHub, bobsguide, Breaking Banks, California Bankers Association, Canadian Trade Commissioner Service, Celent, CoinTelegraph, Crowdfund Beat, Ebanking News, Hotwire, IDC Financial Insights, Javelin,Let’s Talk Payments, Mapa Research, Mercator Advisory Group, MergerMarket, The New Economy, NYPAY, The Paypers, SME Finance Forum, and World Finance.

Malauzai Raises $11 Million in Venture Funding

Malauzai Raises $11 Million in Venture Funding

Malauzai_homepage_Julyl15

Malauzai Software has just filed a form D with the SEC for $11 million in equity financing.

The investors in the venture round of funding were not disclosed. But the new capital takes Malauzai Software’s total to more than $24 million. Austin Business Journal quoted Robb Gaynor, Malauzai Software founder and chief product officer, who said the funding will help support the company’s growth and “market expansion.”

Previous investors in the company include Live Oak Banking Company and Wellington Management, which led the company’s last funding round, a $6.5 million fundraising, in May 2014.

Malauzai_stage_FS2015

From left: Malauzai Software co-founders, CTO Danny Piangerelli and CPO Robb Gaynor who are joined here by a handful of their partners in demonstrating Malauzai’s Virtual Banking Experience at FinovateSpring 2015 in San Jose.

Malauzai specializes in developing innovative banking apps for community banks and credit unions. The company’s mobile apps and internet products give banks and CUs the ability to offer features such as P2P payments, mobile account registration, remote capture, picture billpay, and more, to their customers wherever they are and on whatever device they choose. This week, Malauzai announced a deployment of its mobile remote capture technology at Citizen’s 1st National Bank in Iowa. And in April and May, Malauzai’s new SmartwearApp for use with the Apple Watch went live with eight credit unions and community banks.

Malauzai demonstrated its Virtual Banking Experience at FinovateSpring 2015 in San Jose. Founded in 2009 and headquartered in Austin, Texas, Malauzai has more than 350 bank and credit union customers. Tom Shen is CEO.

Bill.com Unveils iOS App for Small Business Owners

Bill.com Unveils iOS App for Small Business Owners

Billcom_homepage_july15

Small business billpay specialist Bill.com has launched a mobile iOS app to help small business owners manage and pay bills remotely.

Bill.com CEO Rene Lacerte said the new app will help “make sure no business is left behind” as payments become increasingly digital and mobile. SME business owners using the platform can sort bills by due date, vendor, and amount; change payment dates and amounts, and originate payments from more than one bank account. The mobile app also provides a complete payment history, including access to the original invoices.

Available from the iOS app store, the Bill.com mobile app is free for current Bill.com customers and works for iPhone, iPad, and iPod Touch. An Android version is expected in the next few months.

Billcom_newiosapp_july15

Bill.com’s new mobile app is part of the company’s plan to automate the full, end-to-end, accounts payable and accounts receivable processes on any device at any time. With its more than 600,000 network members processing more than $19 billion in payments a year, Bill,com says its mobile app will save users up to 50-70% of the time typically consumed by traditional bookkeeping. Three of the top-ten U.S. banks and more than 40% of the top-100 accounting firms use Bill.com’s technology as their primary payment solution.

2015 has been a big year for Bill.com. The company raised $50 million in funding in February, taking its total capital to more than $100 million. That month Bill.com’s Fast Pay was recognized by Accounting Today as a Top New Product for 2015. In March, the company bolstered its executive ranks with new hires in payments, risk and compliance, as well as sales and customer experience.

Founded in 2006 and headquartered in Palo Alto, California, Bill.com demonstrated its CashView solution at FinovateSpring 2012 in San Francisco.

 

Finovate Alumni News

On Finovate.com

  • “Finovate Debuts: Dream Payments Solves Your Payment-acceptance Nightmare”
  • “Bill.com Unveils its iOS App for Small Business Owners”
  • “Malauzai Software Raises $11 Million in Venture Funding”

Around the web

  • Bloomberg: Barclays’s Michael Rake to Become WorldPay Chairman in September. See WorldPay at FinDEVr this October.
  • PaySimple introduces BookSimple, its cloud-based scheduling software.
  • Check Point partners with Vmware partner to bolster security in data centers.
  • Boston Business Journal: peerTransfer to open office in Shanghai, China, this year.
  • Bank Innovation reviews Narrative Science and its plans to enter the robot-advisor market.
  • Let’s Talk Payments interviews Ron Suber, Prosper President.
  • Credit Union Times features Rippleshot CEO and co-founder Canh Tran in its column on fraud detection for CUs.
  • Sang Lee, CEO of DarcMatter, quoted in RIA Biz column on robo-advisors.
  • PYMTNs.com profiles Kreditech as the company pursues Series C investment.
  • Belvoir FCU launches Belvoir Buck$ loyalty program courtesy of partnership with Larky.

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.