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Finovate Alumni News

By David Penn Posted on April 8, 2015
Categories: Authentify, BBVA Compass, BillGuard, Dealstruck, Dwolla, ETRONIKA, Insuritas, Jumio, PayNearMe, Taulia, TradeHero, Uncategorized, Vouch, Zooz

On Finovate.com

Early Warning Acquires Authentify

Dealstruck Raises $8 Million in Funding, $50 Million for New Credit Facility

BBVA Taps Dwolla for Real-time Money Transfers

Around the web

Vouch launches its social network for credit. See Vouch at FinovateSpring 2015 in San Jose.

Retail Week features Zooz as its Start-up of the Week.

Vermont Federal Credit Union partners with Insuritas to open and manage turnkey insurance agency.

Optimal Payments integrates Jumio’s Netverify into its NETELLER stored-value service.

BillGuard launches custom categories capability.

Taulia Launches Research Arm, Taulia Labs.

FanIQ features TradeHero.

Norway Registers Development agrees to take 80% stake in Etronika.

PayNearMe partners with online rent payment network RentMoola to enable landlords to take rent in cash online.

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

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FinovateSpring 2015 Sneak Peek: Part 1

By Julie Muhn (@julieschicktanz) Posted on April 7, 2015
Categories: Alpha Payments Cloud, CUneXus, DRAFT, FinovateSpring 2015, FinovateSpring 2015 Sneak Peek, FundAmerica, SayPay, StockViews, TrueAccord

FinovateSpring 2015 launches next month on May 12 and 13. That gives us five weeks to review the 72 companies that will step up on stage in San Jose.

We’ll be featuring seven companies twice a week in our Sneak Peek series. The first set includes:

This will be Finovate’s eighth conference in the Bay Area and our second year in San Jose. Interested in being among the first to see the newest fintech this spring? Pick up your ticket here to join us.

Alpha Payments Cloud’s AlphaHub consolidates the payments world onto one platform enabling banks, merchants, MSPs and ISOs to access any payment type, any solution provider, anywhere.

Features:

Access every transaction-centric solution vendor
Consolidate all integrations to one platform
Mitigate risks and costs by orchestrating across vendor functionality

Why it’s great
The AlphaHub gives instant access to any payment type, any solution provider, anywhere in the world.

Presenter: Oliver Rajic, CEO
Rajic is a global business development leader and payments expert whose vision is bringing the payments world into the 21st century.
LinkedIn

CUneXus is one of just ten to watch on KPMG’s report of “The Best Fintech Innovators of 2014,.” CUneXus stands at the forefront of the transition to a new era of data-driven, on-demand lending and borrowing.

Features:

Perpetual Loan Approval
“One-Click” access to preapproved loans at every touchpoint
Integrated into leading online- and mobile-banking platforms

Why it’s great
CUneXus brings the “one-click” convenience and mobility consumers have come to expect, helping lenders maximize the value and profitability of existing customer relationships.

Presenters

Dave Buerger, Co-Founder, President & CEO
Buerger is an award-winning financial services marketer and strategist with a noteworthy record of achievement, spanning a diverse array of marketing mediums and industry verticals.
LinkedIn

Darin Chong, Co-Founder & COO
Chong draws from 17+ years of experience in consumer financial services with expertise in marketing, operations, and project management.
LinkedIn

DRAFT changes the way people view, think and act about investing by comparing your returns, fees and allocation to top-performing portfolios.

Features:

Track all of your investments in one spot
Side by side return, fee, and allocation comparisons
Obtain a blueprint showing portfolio gaps to help maximize returns and lower fees

Why it’s great
DRAFT has created a better investment benchmark by comparing real portfolios to one another. It’s simple, transparent, and community focused.

Presenters

Brad Lawler, President, co-founder
Lawler has 10 years’ experience in the financial services industry, including as a high-net-worth adviser at a risk-analysis software firm. He also spent time with a big-data infrastructure company.
LinkedIn

Jason St. Peter, CEO, co-founder
St. Peter has 15 years of experience in sales, marketing, and business development in the high-tech industry. Prior to DRAFT, St. Peter created and ran the Dell For Entrepreneurs program for Dell, Inc.
LinkedIn

FundAmerica provides API-enabled escrow, payment processing, and securities compliance to portals engaged in technology-driven capital formation via the JOBS Act (506b/c, Reg A+, 4(a)(6) crowdfunding).

Features:

Easy-to-implement API and “Invest Now” buttons
View all data and events in the control panel
Ensure compliance with federal and state regulations

Why it’s great
FundAmerica provides the crowdfunding industry with the best and only technology-integrated compliance and back-office solution.

Presenters

Scott Purcell, CEO, founder
Purcell is a leader in the crowdfunding industry with experience in both technology and securities.
LinkedIn

Jonathan Self, President, CCO
Self-served as a compliance examiner at FINRA, and was a capital markets specialist at the Federal Reserve Bank of Atlanta.

Scott Andersen, General Counsel
Andersen was the deputy chief counsel at FINRA; enforcement director at the NYSE; and assistant attorney general for the state of New York.

SayPay enables users to make or schedule bill payments instantly by simply speaking a one-time, secure “SayPay Code”—all without the need to sign in or remember passwords!

Features:

Eliminates late charges and interest expense
Billers get paid faster
Combines voice recognition, biometric voice authentication and mobile technologies into a seamless user experience

Why it’s great
Financial institutions can re-use SayPay across the enterprise, for website sign-in, online purchases, P2P transfers, step-up authentication and more for optimal return on investment.

Presenter

Steve Hoffman, CEO, founder
Hoffman has 25+ years of experience in payments, digital banking, and authentication, and holds several patents for internet and mobile payment technologies.

StockViews is an online equity research platform that connects investors with independent analysts.

Features:

A meritocratic platform that pinpoints alpha generators
Identifies analysts with expertise relevant to the fund manager
Harnesses the wisdom of crowds to assist investment decisions

Why it’s great
Our product harnesses collective intelligence by identifying and isolating the opinions of analysts who consistently outperform the market.

Presenters

Tom Beevers, CEO, co-founder
Beevers is the CEO of StockViews. He was previously a fund manager at Newton in London. He holds a degree in natural sciences from Cambridge.
LinkedIn

TrueAccord offers a machine-learning-based, automated, and friendly collection platform that effectively services the new age of financial services companies.

Features:

Adapts to consumer preference with new communication channels; increases satisfaction
Adapts to consumer behavior; increases recovery
Easy to audit and control; improves compliance

Why it’s great
Debt collection is ripe for disruption on the heels of alternative lending. TrueAccord is leading the market in rethinking this activity.

Presenters

Ohad Samet, CEO
Samet is head of analytics at Fraud Sciences; worked in new ventures at PayPal; founder at Analyzd; chief risk officer at Klarna; published writer, O’Reilly.
LinkedIn

Nadav Samet, CTO
Samet served as a senior software engineer at Google and contributed to several high-profile projects such as gmail, Google Flights, and more. Holds a masters in science in mathematics from Weizmann Institute of Science.
LinkedIn

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Finovate Debuts: StreetShares Helps Small Businesses Raise Capital

By David Penn Posted on April 7, 2015
Categories: StreetShares, Uncategorized

StreetShares is a specialist in what the company calls “affinity-based social lending.” The idea is to take crowdfunding a step further by connecting small business owners in need of capital with investors with shared affinities. The first shared affinity StreetShares has been able to serve is the veteran and veteran-owned business community.

Calling the platform “Shark Tank Meets eBay,” business owners on StreetShares pitch their business to interested, accredited investors who compete for the opportunity to fund the loan.

“We are bringing the ‘peer’ back to peer-to-peer lending in the U.S. market,” StreetShares CEO Mark Rockefeller said, in explaining P2P lending’s origins in Great Britain and its evolution in the U.S. “We are talking about veterans funding veterans; female executives funding female executives; alumni from one school funding fellow alums from the same school.”

StreetShares’ stats:

Founded in July 2013
Headquartered in Reston, Virginia
CEO Mark Rockefeller, COO Mickey Konson, and CTO Ben Shiftlet are co-founders
Raised more than $1 million in funding
Maintains 12 FTEs
Provides small business loans of up to $50,000

The story

The idea behind StreetShares originated from the concept of the GI Bill, which gave millions of servicemen returning from World War II the opportunity to buy homes, start businesses, and raise families, giving birth to a true middle-class in America.

(Left to right): COO Mickey Konson and CEU Mark Rockefeller presented StreetShares at FinovateEurope 2015.

And while the circumstances have changed since 1945, many of the challenges remain: entrepreneurs, many of them veterans, still struggle to raise the capital help get their businesses off the ground or to move to the next level in terms of growth and expansion.

This is where StreetShares comes in. The company believes that businesses are more likely to get funded by (a) investors who have some sense of connection with the borrower and (b) investors who feel as if they know exactly where a business is headed and how it plans on getting there.

Add to this the extensive information about applicants provided to potential investors—and located on each applicant’s “tile”—and an investor has everything needed to make a lending determination. This includes information on the business itself, with links to websites and social media; a pitch with the ability to attached additional information, including spreadsheets, background on the applicant; and information on the status of the bidding for that company’s loan.

What do businesses need in order to apply for a loan via StreetShares? SMEs can apply online or by phone, and any U.S. citizen-owned business that has been in operation for at least a year is eligible. Businesses must earn a minimum amount of revenue, be incorporated, and have a business guarantor “with reasonable credit.” More information on the application is available at StreetShares.com.

Individuals with “accredited investors” can participate on the platform. Accredited investors need a StreetShares account, and must have an income of $200,000 or more ($300,000 for a couple), or have a net worth of $1,000,000, excluding the value of a primary residence.

At FinovateEurope 2015, StreetShares showed its auto-invest feature. Auto-invest enables the platform to make investments for the investor based on a set of prearranged criteria such as risk-tolerance level, affinity type, interest rate, bid amounts and more. Once set, the platform bids on open loans on the investor’s behalf. The investor can review the bids in the invest tab, as well as in the investor portfolio.

The future

StreetShares believes three key factors distinguish it from others in the SME lending space. The first, and most prominent, is the use of social affinity groups to “build bonds of trust” between borrowers and lenders. This trust results in lower-cost loans. The second factor is a fully transparent platform in which all investors, retail and institutional, compete for loans fairly side by side. And the third factor is co-investment, in which StreetShares puts its own capital to work as a co-investor on each loan that is made.

The company remains focused on expanding its capacity to provide loans, especially in the below-$100,000 category, which Rockefeller says is a $136 billion market. “We think lending is about risk and risk is about data,” Rockefeller said from the Finovate stage in February. “But what if we could tap into human trust, and apply that to lending. We think we have a way.”

That way has been brightened by news last month that StreetShares has picked up a $200 million commitment from Direct Lending Investments, Community Investment Management (CIM), and Eagle Bank Corporation to help fund loans. Speaking for Direct Lending Investments, Brendan Ross said, “Our mission is to put money to work funding small businesses. We are excited about this business partnership with StreetShares and the unique business owners they serve.”

Watch StreetShares demo its technology live at FinovateEurope 2015.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on April 7, 2015
Categories: Backbase, Betterment, FIS, Heckyl Technologies, MX, StreetShares, Xignite

On Finovate.com

Finovate Debuts: StreetShares Helps Small Businesses Raise Capital

FinovateSpring 2015 has sprouted! Check out our first Sneak Peek, featuring 7 presenting companies.

Around the web

Backbase adds Payveris’ suite of payment APIs to the Backbase Open Banking Marketplace.

Evans Bank to deploy core banking technology from FIS.

Xignite teams up with ChartIQ to launch new market-data widgets.

Heckyl Technologies featured in e27’s list of 10 ‘need-to-know startups’ in Singapore and India.

Backbase adds MX’s PFM and account aggregation to the Backbase Open Banking Marketplace.

Wharton Fintech blog: How Betterment is Redefining the Retail Investment Landscape.

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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Finovate Debuts: Pirean’s “Access: One” Keeps Access Management Simple

By Julie Muhn (@julieschicktanz) Posted on April 6, 2015
Categories: Pirean, Security

Pirean is an identity- and access-management as-a-service company. It addresses both employee and end-user needs, offering access to online banking apps in a secure environment. The company helps banks improve security practices in a low-cost way.

Pirean facts:

55 employees
Privately held
Self-funded
Founded 2002
Headquartered in London

At FinovateEurope 2015, Pirean debuted Access: One, its flagship product. With Access: One, financial institutions offer a platform that matches their branding and makes interaction easy for both employees and customers.

Financial institution employees

The employee portal (pictured below) offers access to a variety of management functions and enables the administrator to generate and customize users’ application dashboards. The administrator can also create and edit identity access-management (IAM) workflows and view security performance data.

Access: One enables the administrator to determine the level of security required for each user-facing app. For example, if they would like a trading account to be more secure, they can require two-factor authentication. Pirean offers the option to use either Google Authenticator or SMS as the second-factor challenge.

This screenshot below shows how the administrator adds, edits and removes banking applications from an application dashboard.

In this example, the administrator is adding a cash account, a trading account, and a user-identity application that allows users to change their password, set preferences, and reset security questions.

The easy-to-edit nature helps banks quickly adapt to changing business needs and customer relationships.

End customers

While the example below shows a customer’s view of bank applications on the Access: One dashboard, Pirean also offers banks the option to integrate Access: One APIs directly with their website.

To create a unified banking experience, banks customize the user-facing platform to match their brand and promote special offers. The clean interface provides access to cash and trading accounts, as well as account settings, user information, and links to partner services.

What’s next

Pirean will have two major partners going live in the next couple of months.

Pirean debuted Access: One at FinovateEurope 2015 in London.

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Fintech Four: Santandar, Robo-Advisors, Crowdfunding, Apple Watches

By Jim Bruene Posted on April 6, 2015
Categories: Fintech

Here are four developments making headlines last week:

1. According to Massolution, a research company that tracks crowdfunding volume, the total amount of debt and/or equity raised through so-called peer-to-peer platforms in 2014 was $12.2 billion:

Debt crowdfunding is up 3.2x year over year:
2014 = $11.1 billion; 2013 = $3.4 billion
Equity crowdfunding up 2.8x year over year:
2014 = $1.1 billion; 2013 = $390 million
—–
Combined total up 3.2x:
2014 = $12.2 billion; 2013 = $3.8 billion

Source: Massolution, 31 March 2014

2. Financial apps for the Apple Watch are slowly rolling out in advance of the 24 April 2015 launch. So far we have only four released but there are certain to be hundreds by year-end. We’ll definitely have a few Apple Watch demos at next month’s FinovateSpring15. According to Bank Innovations, the following financial institutions have iWatch apps available three weeks in advance of its introduction:

Citibank
Mint
Desjardins (Canadian Credit Union coalition)
Tangerine unit of ScotiaBank

Source: Bank Innovations, 31 March 2015

3. Santander goes all-in on mobile meal-pay. The amount of money flowing into the fintech sector is staggering, amounting to more than $3 billion so far this year. But investments from banks are still relatively rare; however, this week Spanish giant Santander made a bold bet on the mobile-payments space, investing $5 million into MyCheck’s Series B round. MyCheck offers a payments platform to restaurant chains such as Busaba and Prezzo in the U.K., and Blockheads and Aroma in the U.S. We are so looking forward to the uber-experience when dining out. I wonder if it will eventually put an end to discretionary tipping?

Source: TechCrunch, 29 March 2015

4. Robo-advisers are taking over the world, or at least that’s what it seems after watching hundreds of millions in venture capital (VC) money flow to the simplified investment platforms (case in point, VentureBeat is reporting that Acorns has attracted another $10 million to its service which invests your spare change). I had a great conversation this week with Herbert Moore, founder of WiseBanyan, an ETF-based asset-allocation service in the same vein as Betterment, FutureAdvisor, Wealthfront and others. But WiseBanyan has completely eliminated the asset-management fees, a bold move that is getting it plenty of attention. (My WiseBanyan beta-invite arrived as I was writing this, so am looking forward to giving it a spin).

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ZenPayroll Raises $60 Million in Round Led by Google Capital

By David Penn Posted on April 6, 2015
Categories: ZenPayroll

Forget about presidents and painters. The next face I want on my paper currency is that of the ever-smiling ZenPayroll CEO Joshua Reeves, whose startup just raised $60 million in a round led by Google Capital.

Also participating in the Series B were Emergence Capital Partners, General Catalyst, Google Ventures, Kleiner Perkins Caulfield & Byers, and Ribbit Capital. The investment round takes ZenPayroll’s total funding to more than $85 million and, according to TechCrunch, values the company at more $550 million.

Coverage in the New York Times noted that round-leader Google Capital typically specializes in funding “older companies with more established businesses.” Google Capital partner Laela Sturdy pointed to the way ZenPayroll “changed payroll from an impersonal transaction into a meaningful connection between employers and employees.” And beyond ZenPayroll’s capacity to “solve every business owner’s biggest headache”—as another observer put it—Sturdy had high praise for the company’s human capital, as well. “We’re big believers in Josh and his team, and big believers in where they can take this company.”

Above: ZenPayroll co-founder and CEO Joshua Reeves presented at FinovateSpring 2014 in San Jose.

ZenPayroll offers all of its features: direct deposit; unlimited payroll runs; year-end W-2s and 1099s for $29 per month plus $4 per employee. There is no longer-term contract, and nothing to download. The online platform is accessible 24-7 from any web-enabled device. ZenPayroll is currently promoting a 2-month, free trial.

We last reported on ZenPayroll in September when the company opened up its API. The company processes billions of dollars in annual payroll for more than 10,000 SMEs in 47 states and the District of Columbia. With the additional funding, ZenPayroll anticipates going nationwide by the end of the month.

ZenPayroll made its Finovate debut last year at FinovateSpring 2014 in San Jose, Calif. Founded in October 2011 by Reeves, Tomer London (CPO), and Edward Kim (CTO), the company is headquartered in San Francisco, California.

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FinovateFall 2015: Ladies and Gentlemen, Launch Your Applications!

By David Penn Posted on April 6, 2015
Categories: FinovateFall 2015

Spring may have sprung, but for many here on the Finovate team, the fall season is already on our minds.

Why? Because the application-window for companies looking to demo their latest fintech innovations at FinovateFall 2015 in New York is now open! And that’s a big deal for fintech players of all shapes and sizes. For example:

Startups ready to show new technology in front of an audience of banking executives, press and industry analysts, fellow fintech firms and venture capitalists.
Industry veterans eager to show the world that they’ve still got more than a few innovations to showcase.
International firms looking to launch, or make serious inroads, into North America.
Direct-to-consumer financial firms with a digital value-proposition new to the industry.

If this describes you and your technology, then FinovateFall 2015 may be the opportunity you’ve been waiting for!

FinovateFall 2015 returns to the New York Hilton Midtown for two days of technological innovation and intense networking. The conference will be held on 16/17 Sept 2015, featuring our signature 7-minute live demos focused on the “special sauce” of true innovation in fields ranging from authentication and digital investing to mobile payments and P2P lending.

Watch last year’s presenters in the FinovateFall archives. For a refresher on last year’s Best of Show winners, read our FinovateFall 2014 Best of Show review.

For attendees: Be a part of the live audience at FinovateFall 2015. Register today and take advantage of special pre-sales savings!

For presenters: Demo your technology on stage at FinovateFall 2015 before an audience of nearly 1,500 financial professionals. Email us at [email protected] for information on how to apply. The application window for FinovateFall 2015 opens today and applicants are encouraged to apply as early as possible.

Other questions? Send us an email at [email protected] or contact Finovate Event Director, Greg Palmer, 1-800-418-0980.

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Finovate Debuts: LockByMobile Lets Cardholders Lock Out Fraud

By David Penn Posted on April 6, 2015
Categories: LockByMobile, Smart e-Money

The concept behind LockByMobile is simple: use mobile devices to give cardholders an added level of security against credit and ATM card breaches. For Smart e-Money, the company behind LockByMobile, the strategy was to leverage and deploy the award-winning technology it had already patented and deployed in another context.

“What if you could be one step ahead of fraud?” said Smart e-Money VP of Innovation Angelito Villanueva from the Finovate stage in February. “What if you could add a hard lock that only your customers could lock and unlock, just with a swipe of their finger using their smart phone?”

“Wish it could be done? Well, this solution already exists, and we call it LockByMobile.”

LockByMobile stats:

Founded in 2000
Headquartered in Manila, Philippines
Operates as a subsidiary of Smart Communications
Serves more than 72 million subscribers
Has more than 200 employees

The story

The key technology that makes LockByMobile work has been around since 2007 when it was first developed by Smart e-Money as a security tool for its prepaid wallets. The technology won an award in 2009 for “Best Mobile Security Feature” at GSMA in Barcelona, Spain, but it is the enhancement and deployment of the technology as a way to make cardholders more secure that brought the company to London for FinovateEurope 2015.

To get started with LockByMobile, users download the app, register, and then sign in with their mobile number and a PIN. Users will be able to see their various card accounts on file with the participating issuing banks. Locking and unlocking cards is as easy as a swipe of a finger, and a bright-red highlighting makes it easy for users to see at a glance which of their cards are locked and which are not.

If a transaction is attempted on a locked card, the cardholder will get an SMS notification to their mobile device. And real-time functionality means that even in the case of an accidental locking, there is no friction or inconvenience when it comes to unlocking the card on the spot.

There are a variety of ways LockByMobile is helpful to cardholders. Consumers who lose their cards or have their cards stolen can use the mobile app to lock their cards to prevent use. But LockByMobile points out, even though cards are only used once or twice a day on average, “your card is potentially exposed to fraud all the time.” In other words, even with your card “safely” in your pocket or purse, locking the card using LockByMobile’s technology provides valuable anti-fraud protection.

In addition, the platform’s spending controls can be used to manage supplemental cards given to children or be used by caregivers helping seniors avoid financial exploitation. LockByMobile allows transactions to be limited by channel, amount, location, type of merchant, and type of currency.

The future

LockByMobile caught the attention of more than one observer at FinovateEurope 2015. Let’s Talk Payments praised the company as an added layer of security for ATM and credit-card users. Data monitor’s profile of LockByMobile’s Finovate debut led to a 4 out of 5 rating, including high marks for being a potentially “game-changing” opportunity for banks.

Going forward, the company plans to launch LockByMobile in “several financial institutions across different countries” in 2015, as well as build relationships with a number of potential partners.

“We are constantly improving our offer and enhancing the platform with new functionalities,” said Villanueva from the Finovate stage. Added Guillaume Danielou: “We are currently developing a version for Corporate Cards where the business owner can control the limits and usage for his employees’ business cards, as well as benefiting from the Lock/Unlock feature to protect the cards against fraud.”

Watch LockByMobile’s live demo at FinovateEurope 2015.

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Finovate Alumni News

By David Penn Posted on April 6, 2015
Categories: Global Debt Registry, GMC Software Technology, LockByMobile, Pirean, Ripple, TrueAccord, Trulioo, Uncategorized, ZenPayroll

On Finovate.com

Finovate Debuts: LockByMobile Lets Cardholders Lock Out Fraud

ZenPayroll Raises $60 Million in Round Led by Google Capital

FinovateFall 2015: Ladies and Gentlemen, Launch Your Applications!

Finovate Debuts: Pirean’s “Access: One” Keeps Access Management Simple

Around the web

Feature on automation in debt collection highlights Global Debt Registry and True Accord. See True Accord at FinovateSpring 2015 in San Jose.

Ripple adds dropdown customizations to its price charts.

Huffington Post: Trulioo, Making Trust Online an Option.

Callcredit Information Group partners with Trulioo. Check out Trulioo at FinovateSpring 2015.

GMC Software Technology Named SIIA Software CODiE Award Finalist.

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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CAN Capital Locks in $650 Million Credit Facility

By Julie Muhn (@julieschicktanz) Posted on April 3, 2015
Categories: CAN Capital, Small Business

Alternative small business loan provider CAN Capital announced this week that it secured a $650 million credit facility from twelve banks. Seven are first-time participants:

Wells Fargo Capital Finance
Morgan Stanley
Barclays
UBS
J.P. Morgan
SunTrust Bank
First Tennessee Bank

Five existing banks recommitted funds:

Fifth Third Bank*
Regions Bank*
AloStar Bank of Commerce*
CapitalSource (a division of Pacific Western Bank)
Amalgamated Bank

*increased commitments

CAN Capital provides loans and merchant cash-advances to small- and medium-sized businesses. Since launching in 1998, the company has extended a total of 150,000 finance transactions to small businesses, providing access to $5 billion.

The New York-based company is best known for its Daily Remittance Platform. The underwriting technology evaluates business risk based on recent performance, which generally enables it to approve financing for more businesses.

CAN Capital debuted its Mobile Funder on the FinovateFall 2013 stage in New York.

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EZBOB Raises £3 Million in Private Equity Investment

By David Penn Posted on April 3, 2015
Categories: EZBOB

U.K.-based SME lender EZBOB has raised £3 million in new capital courtesy of a private equity investment.

The investment takes the company’s total capital to more than £16 million (more than $23 million USD), including a £7 million debt-financing round in February 2014.

EZBOB made headlines this spring with its partnership with online Chinese marketplace Alibaba. A loan guarantee agreement with the European Investment Fund (EIF) in March enabled EZBOB to increase its loan volumes by up to £40 million over the next two years. EZBOB acquired Everline, Wonga’s small business financing unit, in February.

A two-time Finovate alum, EZBOB last appeared on the Finovate stage as part of FinovateEurope 2014 conference. The company was founded in November 2011 by Tomer Guriel, CEO, and Sharone Perlstein, business development, and is headquartered in London.

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