Mint Bills Brings Mobile BillPay to One Million Customers of Questar Gas

Mint Bills Brings Mobile BillPay to One Million Customers of Questar Gas

MintBills_homepage_800px

Who knew one of the beneficiaries of the energy boom in the Mountain West would be Mint Bills?

Intuit’s Mint Bills today announced a partnership with natural gas utility Questar Gas that will provide online and mobile billpay services to almost one million customers in Idaho, Montana, and Utah.

Brad Markus, general manager for customer service at Questar Gas, said that while providing a wide variety of payment options was a priority for his customers, pedigree was also important. “Mint Bills was the perfect partner for us. We not only liked the mobile bill pay product, but also that it’s a part of Intuit, a trusted brand,” he said.

MintBills_artUtility companies have been an area of focus for Mint Bills for years. In addition to its new partnership with Questar Gas, Mint Bills is working with two other players in the natural gas world, UGI Utilities and New Jersey Natural Gas, providing multichannel billpay for more than two million households combined.

Steve Schultz, general manager of biller services for Mint Bills, said, “Given the increasing adoption of mobile devices, we’re seeing more natural gas utilities starting to offer electronic payment options for their customers.” Schultz added that the cost-effectiveness of Mint Bills was also a big factor for utilities companies like Questar, which are looking for mobile payment technology “for little to no cost.”

Mint Bills makes it easy for consumers to manage and pay their bills. The app monitors all connected accounts—savings, checking, credit—and provides configurable alerts to let users know when bills are nearing due dates. Users can sign up online, or download the iOS or Android versions to use the mobile app.

Mint Bills was launched by Intuit late last year, following the company’s acquisition of Check (formerly Pageonce) in May 2014.

Finovate Alumni News

On Finovate.com

  • Britain’s Second Largest Mobile Wallet, Yoyo, Pulls $10 Million in Funding
  • Mint Bills Brings Mobile Billpay to One Million Customers of Quester Gas
  • Global Debt Registry Teams Up with TransUnion to Better Serve Debt Industry

Around the web

  • Bento for Business founder and CEO weighs in on the future of tech accelerators. See Bento for Business at FinovateSpring 2015 in San Jose next month.
  • Global Market Solutions joins the Misys InFusion Partner program.
  • TechCrunch column on fintech regulation features Lending Club, Motif Investing, Betterment, OnDeck, Wealthfront, Prosper, and WealthForge. Join WealthForge in San Jose for FinovateSpring 2015.
  • OnDeck partners with Angie’s List to offer financing to its service providers.
  • Paybefore selects InComm as a 2015 Paybefore Awards Europe winner in the Change Agent of the Year category.
  • Banking Exchange: Kabbage hopes to harvest more bank partnerships.
  • Check Point Software and FireEye partner to share threat intelligence to protect customers from modern advanced attacks.
  • Bank Innovation’s look at Voice Assisted Banking features Interactions.

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.

Britain’s Second Largest Mobile Wallet, Yoyo, Pulls $10 Million in Funding

Britain’s Second Largest Mobile Wallet, Yoyo, Pulls $10 Million in Funding

YoyoHomepage

YoyomobileapployaltyU.K.-based Yoyo announced a $10 million Series A round of funding today, bringing the startup’s total to $15 million. The round was led by Imperial Innovations, an affiliate of Imperial College, where Yoyo piloted its mobile payments app. Investors Taavet Hinrikus, Philip Riese, and Michael Tobin also contributed.

The startup will use the funding to bolster engineering and expand its team.

Yoyo also plans to expand internationally and hopes to launch at five U.S.-based colleges by the end of 2015. Yoyo piloted operations at Imperial College in London. The mobile wallet is now available at 15 other British universities, where Yoyo payments total up to 50% of all transactions on campus.

Yoyo’s platform, which is aimed at closed environments such as universities and airlines, sees 150k transactions per month. This earns it a spot as one of Britain’s largest mobile wallets, second only to Starbucks’ payment app.

The mobile payments app boasts convenience, and its built-in reward system keeps customers coming back. Yoyo has a stickiness rate of 80% and, on average, its users spend more than non-users.

We covered Yoyo in our Finovate Debuts series earlier this year. The company unveiled its mobile wallet technology at FinovateEurope 2015 in London.


 

Fintech Fundings: 18 Companies Raise $700 Million Week Ending April 17

Fintech Fundings: 18 Companies Raise $700 Million Week Ending April 17

money_treeOnce again alt-lending dominated the dollar volumes flowing into fintech accounting for close to a half-billion this week. The majority ($400 million) went to Chicago-based Avant. We should note that with all the money flowing to alternative lending, it’s getting a bit harder to classify the funding between a lending pledge, straight debt, traditional equity or a hybrid.

On the equity front, a good variety of firms were funded from billpay, ranging from remittances and insurance to direct banking.

Five Finovate alums took in a total of $35 million:

  • $10.7 million to CurrencyFair
  • $10 million to Yoyo
  • $9.5 million to Interactions
  • $3.2 million to MoneyStream
  • $1.2 million to StockTwits

In total, 18 private fintech companies raised $695 million, at least $450 million was debt and $245 million was equity. Here are the deals from April 11 to 17 by size:

Avant
Direct online lender
HQ: Chicago, Illinois
Latest round: $400 million Debt
Total raised: $1.4 billion ($350 million equity; $1.05 billion debt)
Tags: management, investing
Source: Crunchbase

PrimeRevenue
Supply-chain financing marketplace
HQ: Atlanta, Georgia
Latest round: $80 million Private Equity
Total raised: $91.6 million
Tags: Lending, SMB, factoring, investing
Source: Crunchbase

Applied Data Finance
Lending to underbanked via Personify Financial Services
HQ: New York City
Latest round: $50 million Debt + undisclosed equity
Total raised: Unknown
Tags: Data analytics, underbanked, lending, underwriting, consumer credit
Source: Crunchbase

PolicyBazaar
Indian insurance-comparison portal
HQ: Gurgaon, India
Latest round: $40 million Series D
Total raised: $69.6 million
Tags: Insurance
Source: Crunchbase

Billtrust
B2B invoicing and payments
HQ: Hamilton, New Jersey
Latest round: $25 million Series C
Total raised: $54 million
Tags: SMB, invoicing, billpay, bill payment, accounts receivable, accounts payable
Source: FT Partners

Acorns
Saving and investing app
HQ: Newport Beach, California
Latest round: $23 million Series C
Total raised: $32 million
Tags: management, investing
Source: FT Partners

InGo Money (formerly Chexar Networks)
Mobile money movement and card reloads
HQ: Roswell, Georgia
Latest round: $13.5 million
Total raised: $21.9 million
Tags: management, investing
Source: FT Partners

CurrencyFair
Remittances and foreign exchange
HQ: Dublin, Ireland
Latest round: $10.7 million Series A
Total raised: $15.4 million
Tags: Fx management, funds transfer, international money exchange, Finovate alum
Source: Finovate

Number26
German direct bank startup
HQ: Berlin, Germany
Latest round: $10.7 million Series A
Total raised: $12.7 million
Tags: Banking, mobile, neo-bank, direct bank, branchless
Source: Crunchbase

Yoyo
Mobile wallet
HQ: London, United Kingdom
Latest round: $10 million Series A
Total raised: $15 million
Tags: Mobile, payments, credit cards, debit cards, Finovate alum
Source: Crunchbase

Money360
Commercial real estate loan marketplace
HQ: Ladera Ranch, California
Latest round: $10 million
Total raised: $13 million ($11 million equity; $2 million debt)
Tags: Lending, credit, real estate, commercial mortgage, investing, P2P, crowdfunding
Source: P2P-Banking.com

Interactions
Customer service technology
HQ: Franklin, Massachusetts
Latest round: $9.5 million
Total raised: $110+ million
Tags: Service, call center, mobile, speech recognition, biometrics, security, Finovate alum
Source: Crunchbase

TouchBistro
Mobile POS system for restaurants
HQ: New York City, New York
Latest round: $6 million Series A
Total raised: $12 million
Tags: Mobile, point-of-sale, credit/debit card, acquiring, merchants, SMB
Source: FT Partners

MoneyStream
Money and bill management
HQ: Los Gatos, California
Latest round: $3.2 million Series A
Total raised: $3.2 million
Tags: Billpay, PFM, payments, money management, H&R Block (investor), Finovate alum
Source: Finovate

Ascend Consumer Financial
Loan comparison and rewards
HQ: San Francisco, California
Latest round: $1.5 million Seed
Total raised: $1.5 million
Tags: Lending, rewards, underwriting, credit, loans, lead generation, consumer
Source: Crunchbase

StockTwits
Investment sentiment analysis
HQ: New York City, New York
Latest round: $1.2 million
Total raised: $9.8 million
Tags: Investing, analytics, mobile, Twitter, Finovate alum, FinDEVr alum
Source: FT Partners

CommonLedger
Accounting data-aggregation tool
HQ: Wellington, New Zealand
Latest round: $1 million Seed
Total raised: $1 million
Tags: Accounting, metrics, data analysis
Source: Crunchbase

FriendlyScore
Alternative credit score
HQ: London, United Kingdom
Latest round: $375,000 Seed
Total raised: $395,000
Tags: Lending, underwriting, credit scoring, data analytics
Source: Crunchbase

MoneyStream Launches to Public, Receives $3.2 Million in Funding

MoneyStream Launches to Public, Receives $3.2 Million in Funding

MoneyStreamHomepage

iPhoneUpcomingMoneyStream not only launched its bill pay-focused PFM platform in the U.S. today, but also received its first round of funding.

The $3.2 million round was led by 60-year-old H&R Block, and marks only the second time the tax and accounting company has invested in a startup. H&R Block’s first investment was in 2011 when it furnished an undisclosed amount to Wipit, which demonstrated its Boost Mobile Wallet at FinovateSpring last year.

Bruno Bowden and Kim Polese also contributed to MoneyStream’s Series A round.

MoneyStream helps consumers avoid late payments and overdraft fees by providing cash- and bill-management tools enabling them to look ahead and make financial predictions. The startup analyzes historical account activity to predict their future balance and alert them if they could come up short. In addition to offering a single place to view all bills, the free service also enables users to pay bills directly from MoneyStream’s platform.

Founded in 2012, the company debuted at FinovateFall 2014 in New York. Mike Bertrand is CEO.

Finovate Debuts: Xsolla Leverages its Billing Platform to Build a Better Payment System

Finovate Debuts: Xsolla Leverages its Billing Platform to Build a Better Payment System

Xsolla_homepage_800x

Xsolla is taking its expertise in providing billing services for gaming platforms into the world of payments and commerce. At FinovateEurope 2015, Xsolla demonstrated its white-label, customizable billing platform for financial institutions. Aiman Seksembaeva, Xsolla’s manager of business development, said, “We believe our solution has been perfected and molded by millions of daily transactions that can actually help reinvent e-commerce.”

The stats:

  • Founded in 2006
  • Headquartered in Sherman Oaks, California
  • Maintains workforce of 170
  • Alexander Agapitov is CEO

The story

Xsolla’s payment-gateway comes with advanced analytics and reporting tools, as well as advanced antifraud and chargeback management. The technology can be used by online merchants looking to make it easier for consumers to make transactions in the manner and currency of their choice. Xsolla believes this flexibility is critical, pointing out that enabling consumers to transact in local currencies increases engagement which can lead to higher revenues for both small businesses and their bank partners.

Xsolla_FEU15_stageart1

Users choose a country and coverage, or have them selected automatically. Some advanced users of the platform may transact in one set of currencies, yet want payouts in an entirely different set of currencies. Seksembaeva points out that this kind of functionality within larger payment gateways has been available for years, and now with Xsolla, these options are available to small and medium-sized merchants as well.

Xsolla_FEU15_stage2

Banks and clients alike have access to the platform’s analytic and reporting dashboard, a 24/7 analytics suite that helps merchants monitor and manage the “flow and health of their business.” Users can see all transactions made on the platform, the volume of sales, taxes if applicable, payout amounts and types, and review fees, courtesy of detailed reports on each payment method.

The bank workspace, Semsekbaeva points out, is not just a “big-data analytics solution capable of producing customized reports” but a resource that allows FIs to communicate directly with clients. It can be used for cross-selling; marketing credit lines for SMEs; as well as handling complex offers from merchants and other vendors.

The future

Xsolla has been busy making friends in the weeks and months since its Finovate debut in London in February. The company announced partnerships with Ubisoft and CipSoft in April, following a string of successful deals from late 2014. Teaming up with other platforms in the spring has led to sales increases of more than 30% and significant gains in conversion rates from PayPal, credit cards, and other payment methods.

Xsolla_FEU15_ASeksembaeva_stage0

Above: Xsolla Business Development Manager Aiman Seksembaeva presented at FinovateEurope 2015.

The key will be convincing FIs that Xsolla, which already has a strong presence in the world of online gaming, is making a real commitment to helping banks provide a range of options for their small business clients looking for variety in payment options.

“We’ve been experiencing a lot of demand from businesses for a solution like ours,” Seksembaeva said of the company technology. “But we truly believe this is not Xsolla’s place to be. This is a bank’s business.”

OnFinance’s “50 Companies to Watch” Features Finovate, FinDEVr Alums

OnFinance’s “50 Companies to Watch” Features Finovate, FinDEVr Alums

OnFinance_50toWatch

Alumni from both Finovate and FinDEVr are featured in AlwaysOn’s OnFinance “50 Companies to Watch” roster released this week.

AlwaysOn’s OnFinance “50 Companies to Watch” highlights “early to mid-stage startups focused on honing fintech innovation” that are effectively taking their technologies to market. This ability to “capitalize on enormous market opportunities” is what AlwaysOn uses to distinguish its “50 Companies to Watch” from its “Top 100” list published earlier this month.

“(The 50) are positioned at the inflection point of growth and are quickly emerging as contenders that are earning global recognition,” write the editors.

See for yourself. The full list is here. Below are the nine Finovate and FinDEVr alums that made the cut, along with a link to their most recent appearance on stage.

AlphaPoint_hires_logo_boxFinovateEurope 2015

 

Betterment_logo FinovateFall 2011

 

CardFlight_logo FinovateSpring 2014

 

DraftLogo

See them at FinovateSpring 2015

 

 

 

jumio_logo_cmyk FinovateEurope 2015

 

 

Kensho_logo FinovateEurope 2014

 

Plaid_logo FinDEVR San Francisco 2014

 

Tradier_logo FinDEVR San Francisco 2014

 

 

Zumigo_logo FinovateSpring 2014

 

Interactions Raises More than $9 Million in New Funding

Interactions Raises More than $9 Million in New Funding

Interactions_homepage_800px

The rumors are true: Interactions has raised $9.5 million in new funding.

We reached out to Interactions for confirmation, and they were generous enough to reply with a quote from Interactions CEO Mike Iacobucci:

“This new round of funding further supports our momentum in the market and represents an investment in Interactions’ expansion strategy following the recent acquisition of the AT&T Watson research and technology program.”

“We’re happy to have the continued support of our investors, who share Interactions’ vision of a highly accurate, multimodel interface for any application, device, or service.”

The new investment takes Interactions’ total capital to more than $100 million. Participants in this latest venture round were not disclosed. But previous investors in the company have included Cross Atlantic Capital Partners, North Hill Ventures, and Sigma Partners, all of which participated in funding rounds for the company in 2011 and 2013.

Interactions_DFox_FS2014_stage

Above: Dan Fox, marketing manager for Interactions, demoed at FinovateSpring 2014 in San Jose.

Interactions’ technology is used by several Fortune 100 companies looking to leverage natural language understanding technology to make customer interactions both more efficient and more engaging. For banks and financial institutions, this includes providing a wide range of services—replacing lost or stolen cards, transferring money between balances, locating nearby ATMs—without the intervention of a live human agent. Interactions’ platform provides conversational solutions for customers in spoken language (including Spanish), as well as being able to respond by text, and email.

Recent headlines for Interactions include the company’s performance at the 19th MITX Awards this month, earning finalist honors in both the “Best Work Productivity Technology” and “Best Consumer Tech that Makes Life Easier” categories. The company’s virtual assistance technology was also recognized by TMC as a CUSTOMER Contact Center Technology Award winner for 2014.

The company’s acquisition of AT&T’s Watson speech-recognition and natural language understanding platform in December was a major coup that, according to Iacobucci, “will enable the development of highly intuitive interfaces for virtually any device or service and deliver on our vision for the ‘Interface of Things.'”

Interactions was founded in 2004 and is headquartered in Franklin, Massachusetts. A multiple Finovate alum, and two-time Best of Show winner, the company last demoed its technology at FinovateSpring 2014 in San Jose.

Finovate Alumni News

On Finovate.com

  • Meet the Presenters: Check out FinovateSpring 2015 Sneak Peek: Part 4
  • MoneyStream Launches to Public, Receives $3.2 Million in Funding
  • CurrencyFair Springs $10.7 Million More in Funding

Around the Web

  • Thomson Reuters unveils ASKTRPS to help fixed-income professionals meet reporting requirements.
  • MasterCard to sponsor Smart City App Hack.
  • Alabama Teachers Credit Union and Greater TEXAS Federal Credit Union to launch SmartwearApps for the Apple Watch courtesy of Malauzai Software. See Malauzai at FinovateSpring 2015 in San Jose next month.
  • Former Salesforce chief architect Scott Hansma joins Lending Club as senior vice president of technology.
  • MasterCard partners with Alliance for Financial Inclusion to support AFI’s Public-Private Dialogue Platform.
  • American Banker’s highlights from Prosper and Lending Club at this week’s LendIt conference.
  • News.com.au’s Investing highlights SocietyOne’s role in “dude-to-dude” lending.

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.

FinovateSpring 2015 Sneak Peek: Part 4

FinovateSpring 2015 Sneak Peek: Part 4

FS2013crowdshot

FinovateSpring is less than one month away. Our annual spring conference returns to the City National Civic building near the campus of San Jose State University for a first look at the financial technologies of 2015. If you’ve been thinking about joining us the 12/13 of March for two days of live demos and professional networking, now is a great time to pick up your ticket and save your spot.

Today’s Sneak Peek preview brings you another handful of companies that will be presenting their technologies live on stage at FinovateSpring 2015 next month. In this edition, we introduce you to:

Check out the previous three installments of our Sneak Peek series below. And stayed tuned for Sneak Peek #5 next week.


CurrencyCloud_logo_FS15Transform the way your business makes international payments with Currency Cloud’s Payment Engine featuring an enhanced API for maximum efficiency.

Features:

  • Reach new customers
  • Benefit from real-time wholesale rates
  • Leverage a fast, secure payment network

Why it’s great
Powering global payments—Currency Cloud has built a technology-based payment engine that simplifies international payments and offers an easy integration for businesses of all sizes.

Presenters

CurrencyCloud_TLatham_crop2Todd Latham, Vice President of Marketing

Latham has extensive experience in the technology and financial service sectors, and he is fascinated at how technology is transforming people’s lives for the better.
LinkedIn

 

CurrencyCloud_RNienaber_cropRachel Nienaber, Vice President of Engineering

Nienaber is fluent in Ruby and Java, carrying 10+ years of experience in bespoke development projects. She is also responsible for ongoing technology development.
LinkedIn

 


DreamPayments_logo_FS15Accepting payments just got easier. Introducing Dream Payments, a next-generation mobile payment platform accepting all forms of payment.

Features:

  • Sell anywhere; accept all payments
  • Save time; grow your business
  • Create customer experiences
  • Safe and secure transactions

Why it’s great
Sell anywhere, anytime, in any format. Dream Payments enables merchants to accept payments anywhere, anytime, using mobile commerce solutions. Dream Payments are the future of mobile commerce.

Presenters

DreamPayments_CAli_cropChristian Ali, Vice President, Business Development

Ali has been a trusted advisor to the North American payments industry for nearly 20 years and currently serves as vice president of business development at Dream Payments.
LinkedIn

 

DreamPayments_ATailor_cropAnant Tailor, COO

Tailor is the chief operating officer at Dream Payments where he is responsible for the daily operations of the company including product management; go to market strategy; and all customer engagements.
LinkedIn

 


HipPocket_logo_FS15Hip Pocket engages your mobile and website visitors by using social influence and personalized consultation to generate new, qualified mortgage leads.

Features:

  • Unique peer-group comparisons
  • Real-time integration and personalization savings estimates
  • Results and call-to-action are customized to each user’s situation

Why it’s great
Hip Pocket allows your institution to provide an engaging, intuitive user experience that marries the emotional and logical decision-making processes.

Presenters

HipPocket_MZmarzly_cropMark Zmarzly, Founder, CEO

Zmarzly is a passionate innovator and thought-leader in the financial industry. He has delivered multiple TEDx talks and has presented for the ABA; BAI; and for JD Power & Associates.
LinkedIn

 

HipPocket_TCramer_cropTodd Cramer, Head of Digital Experience and Design

Cramer holds an MBA and has more than five years of experience in branding, user experience and eCommerce for a $5B bank enterprise.
LinkedIn

 


Inetco_logoThe INETCO analytics software application provides financial institutions with the game-changing knowledge of where, when, and how customers interact with their channels.

Features:

  • View transaction data on-demand, across all banking channels
  • Reduce failed customer interactions and resolve issues faster
  • Adopt data-driven strategies that improve customer engagement

Why it’s great
INETCO Analytics will accelerate your omnichannel strategy with powerful, on-demand insights into customer behavior.

Presenters

INETCO_MBorbas_cropMarc Borbas, VP Product Marketing

With 12+ years of experience working with financial technology startups, Borbas drives the product strategy for INETCO’s real-time transaction-monitoring and customer-analytics solutions.
LinkedIn

 


LoanNow_logoAs a responsible lender, LoanNow’s motivational lending platform helps deep subprime borrowers secure affordable credit, then actively reduce APR within the loan term.

Features:

  • Repayment-motivation algorithm incentivizes good financial behavior
  • Active reduction in APR during loan for positive behaviors
  • LoanNow to debut new features to lower the cost of credit

Why it’s great
LoanNow allows people to be more than a credit score and to actively reduce their cost of credit through positive financial behavior and loan management.

Presenters

LoanNow_HLangenberg_cropHarry Langenberg, CEO, Co-founder

Since graduating from the Wharton Business School, Langenberg has been a pioneer in bringing innovation to consumer finance. He’s founded Optima Tax Relief, SuperMoney, and Debtmerica.
LinkedIn

 

LoanNow_MLulic_cropMiron Lulic, President, COO, Co-Founder

Lulic has spent his entire career at high-growth technology-driven companies. At LoanNow, Lulic leads product management, design, and marketing while also overseeing all other operations.
LinkedIn

 

LoanNow_ZPeracha_cropZahur Peracha, CTO

After more than a decade of building and launching new products for Silicon Valley startups and Amazon.com, Zahur now leads all technology at LoanNow.
LinkedIn

 


WealthForge_logo_FS15_200pxWealthForge has launched the Invest Button, transforming the way private capital is raised by making the entire process faster, cheaper, and more compliant than ever before.

Features:

  • Simple, turnkey technology
  • Straight-through processing
  • Reduced transaction risk

Why it’s great
The WealthForge solution makes private placement transactions more efficient. The entire process has been reduced from months to weeks, costing nickels on the dollar, from risky to fully compliant.

Presenters

Wealthforge_AWeissman_cropArthur Weissman, Head of Sales and Marketing

Weissman is an industry expert in helping to lead the move of private investing from offline to online. Weissman heads sales and marketing helping to make raising private capital faster and more efficient.
LinkedIn

 

WealthForge_MDellorso_cropMat Dellorso, Co-Founder, President

Dellorso is a leading innovator in venture finance and has worked directly with FINRA and the SEC to establish regulations for online private investing.
LinkedIn

 


Yodlee_logo_FS15A global financial technology leader, Yodlee’s cloud-based platform powers dynamic innovation and solutions for digital financial services.

Features:

  • Provides actionable financial advice
  • Makes personalized recommendations
  • Leverages Yodlee’s advanced data network

Why it’s great
Yodlee capitalizes on its unique data network and key data-driven insights to fundamentally change the digital banking experience.

Presenters

Yodlee_JBird_cropJohn Bird, VP, Product Marketing and Alliances

Bird, as VP of product marketing and alliances at Yodlee, is responsible for the marketing of the Yodlee platform to financial institutions and startup financial technology companies.
LinkedIn

 

Yodlee_KGibson_cropKaty Gibson, VP Product Applications

Gibson, as VP of product applications at Yodlee, is responsible for the creation and execution of product strategy for Yodlee’s suite of financial management applications.
LinkedIn

CurrencyFair Springs $10.7 Million More in Funding

CurrencyFair Springs $10.7 Million More in Funding

CurrencyFairHomepage

Q: Why is Ireland a great place to invest?
A: Because their capital is always Dublin’

Jokes aside, currency-exchange marketplace CurrencyFair received its recent $10.7 million (€10 million) in funding for a deeper reason than its Irish roots. Octopus Investments led the round and previous investor, Frontline Ventures, also contributed.

The Series A installment comes after five angel rounds, a venture round, and a seed round, and brings the company’s total funding to $15.4 million. The company plans to use the funding to expand with the growing market and broaden its focus beyond the European and Asia Pacific regions in which it already operates.

Founded in 2009, CurrencyFair functions on a P2P exchange model, whereby consumers negotiate their own exchange rate with others who seek the opposite exchange. CurrencyFair’s exchange platform occasionally beats the interbank exchange rate, since the P2P model insulates consumers from currency-exchange fees.

CurrencyFair competitor, TransferWise, has raised just over $58 million and recently announced a partnership with cloud-based accounting company Xero.

Brett Meyers is CEO and co-founder of CurrencyFair. The company debuted its iPhone app at FinovateEurope 2013 in London.

Ripple Labs Taps Former Yahoo Executive Brad Garlinghouse as New COO

Ripple Labs Taps Former Yahoo Executive Brad Garlinghouse as New COO

RippleLabs_homepage_800px

The latest news in digital currencies is a major personnel pickup for Ripple Labs. Brad Garlinghouse, a former executive at both Yahoo! and AOL, will join Ripple Labs as its new COO.

Ripple Labs CEO and co-founder Chris Larsen said Garlinghouse will help the company as it transitions “from building a strong pipeline to execution and exceptional growth.” Garlinghouse was president of applications and commerce at AOL, and spent six years at Yahoo! He was also CEO of Hightail (formerly YouSendIt), and sits on the board of Ancestry.com.

BGarlinghouse_RippleLabs_cropGarlinghouse (pictured) echoes one of Larsen’s favorite themes—the “Internet of Value”—in talking about Ripple’s unique contribution to financial technology. “The opportunity to define the actual framework for the Internet of Value is an order of magnitude bigger than anything else underway in payments today,” he said.

Ripple Labs developed and supports Ripple, a settlement protocol that enables financial networks to securely transfer funds in any currency in real-time. The technology has been integrated and deployed by financial institutions like Fidor Bank AG, currency-exchange businesses like Saldo.mx, and market makers like GSR Markets.

For more on Larsen and the Internet of Value, check out our review of his presentation at the Bank Innovation Conference earlier this year.

Ripple recently made headlines with news of a $30 million investment that put the company’s valuation at more than $100 million. The company opened up its developer portal in March, and lent its technology to the new accelerator for digital currencies launched by CrossCoin Ventures.

Ripple Labs made its Finovate debut at FinovateSpring 2013 (as OpenCoin). The company was founded in September 2012, and is headquartered in San Francisco.