Finovate Alumni News– March 28, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMambu wins Cloud Computing Innovation of the Year awards at 2014 FStech Awards.
  • eToro launches new version of OpenBook.
  • Nostrum Group ranked 9th in GP Bullhound’s Northern Tech 50.
  • Global Payments to offer MasterCard’s MasterPass digital payments solution.
  • New partnership means V&D customers will be able to pay via Klarna.
  • Innotribe interviews Kantox’s CEO, Philippe Gelis.
  • The Financial News features BehavioSec.
  • BBVA and Google sponsor developer competition for SME business apps geared toward Spanish, Latin American markets.
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 2014 Sneak Peek: Part 2

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This year’s return to California for FinovateSpring will feature both new and old faces, as innovative startups make their fintech debuts and established veterans continue to remind us all that they’ve still “got it.”

Maybe your interests in FinovateSpring lie in something specific like security or mobile payments. Or maybe you are just looking forward to taking in all that this year’s crop of FinovateSpring presenters has to offer. 

Whatever your fintech appetite, we think you’ll find our Sneak Peek series a helpful way to get to know the entrepreneurs that will be taking the stage next month in April.

So today we introduce you to another set of six companies: Interactions, Kreditech, Market Prophit, Personal Capital, Yseop, and ZenPayroll. And if you missed the first installment of our FinvoateSpring 2014 Sneak Peek series, click here.

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Interactions Corporation is the only truly conversational, self-service solution to move more activity to self-service and free up agents for higher order tasks.
Features:
  • Delivers a fully unstructured, open-ended conversation between businesses and their customers
  • Understands with an unrivaled 95% accuracy in both speech and text
  • Deploys in 12 to 18 weeks
Why it’s great: We put customers first by engaging them in a free form dialogue, allowing them to solve problems quicker, and with less effort.
Phil Gray
Responsible for leading business development. Phil is a successful startup executive with extensive experience in natural language understanding and contact center technologies. 
Dan Fox, Marketing Manager

Kreditech uses Big Data and complex machine-learning algorithms to enable faster, better, and more sustainable credit decisions.
Features:
  • Developing self-learning, self-calibrating Big Data scoring
  • Building the “Amazon for consumer lending”: 24/7, always and everywhere available lending platform
  • Innovative FinTech products
Why it’s great: Based on Big Data scoring, Kreditech is building a centralized and global online lending service for innovative consumer finance products.
Sebastian Diemer, Co-Founder and CEO
Started building one of the most innovative global Big Data technology companies in 2012. Today, Kreditech is innovation leader in Big Data scoring.
Alexander Graubner, Founder and CTO
Combines cloud-based big data infrastructure and machine learning to build the world’s consumer scoring technology.

Market Prophit empowers every investor with real-time intelligence into what’s moving the market by quantifying global, financial-related conversations in social media.
Features:
  • Real-time sentiment and buzz in stock-related social media chatter
  • Identify the “mavens” in the “crowd” with our quantitative blogger ranking system
  • Track stocks and bloggers you care about
Why it’s great: Klout + Morningstar for social media financial influencers
Igor Gonta, CEO
Extensive experience on Wall Street in sales and trading, and brings that to the intersection of Big Data and finance.

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Personal Capital’s One Click Investment Proposals enables our advisors to efficiently analyze prospective clients’ finances and deliver investment recommendations tailored to their unique needs.
Features:
  • Advisors generate 90% of a client’s portfolio with one click
  • Clients see their complete & up-to-date household financial data and a comparison of their existing portfolio to an optimal one
Why it’s great: We’re making it digital – while keeping it personal.
Bill Harris, CEO
Has spent his career dragging the financial industry into the 21st century. He’s developed financial technology for 25 years – including as CEO at Intuit and PayPal.
Jim Del Favero, CPO
Has spent his career designing and building consumer financial software. Before Personal Capital he was head product manager for Quicken at Intuit.

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Yseop is natural language generation software based on artificial intelligence that boosts sales productivity and turns each financial advisor into an expert without additional training.
Features:
  • Yseop automates the sales process from lead generation to the writing of pre-to-meeting reports, customer follow-up and personalized marketing communications — automatically.
Why it’s great:
Yseop turns data into text, leads into clients, and salespeople into experts. Double your sales force productivity overnight with the power of artificial intelligence.
Elizabeth Farabee
Has a background in inbound and direct marketing. She is passionate about Yseop’s personalized marketing potential in both the B2C and B2B markets.
Matt Rauscher
Is a consultant at Y
seop. He lived nine years in the United States, and graduated with a Master’s Degree in Finance.

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ZenPayroll is modern, delightful payroll. Our mission is to make payroll as simple and intuitive as possible using the principles of modern software.
Features:
  • Makes payroll as simple and intuitive as possible
  • Helps business owners build stronger teams
  • Empowers employees by enabling them to be equal stakeholders
Why it’s great: Payroll should be about people, not payments. ZenPayroll is unearthing the human side of compensation currently buried under layers of complexity and government bureaucracy.
Joshua Reeves, CEO and Co-Founder
Believes in the power of software to solve complex problems, and founded ZenPayroll to deliver delightful, modern payroll to businesses everywhere.

Stay tuned for the next edition of our Sneak Peek series coming next week.

Realty Mogul Raises $9 Million in Round Led By Canaan Partners

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CEO and co-founder of Realty Mogul, Jilliene Helman, said that her goal was to “bring the $11 trillion commercial real estate market into the 21st century.”

Thanks to Canaan Partners, the real estate crowdfunding startup now has $9 million more to help make that happen.

Calling her innovation “democratization of deal flow”, Helman’s company saw growth of more than 400% in the six months since July, and now has more than 6,000 accredited investors using Realty Mogul’s platform. And this deal with Canaan Partners arguably helps put Realty Mogul in the same conversation with other crowdfunders that have attracted venture capital interest such as CircleUp.
Total capital raised by Realty Mogul now stands at approximately $10 million.
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Hrarch Simonian, a principal at Canaan Partners who also sits on the Realty Mogul board of directors, compared what Realty Mogul is doing for real estate investing to what another Finovate alum is doing for retail lending. “Realty Mogul will be the next disruption in a massive asset class just like Lending Club has been for the consumer credit market,” he said.
In addition to recently celebrating the first anniversary of its launch, Realty Mogul announced just a few days ago that crowdfunders using the platform had invested in more than $100 million worth of real estate. In a note to investors, CEO Helman noted this and stressed a commitment to technology going forward, saying the company has budgeted more than $2 million toward developing Realty Mogul’s proprietary technology.
Founded in May 2012 and headquartered in Los Angeles, Realty Mogul made its Finovate debut at the spring show in 2013. See a video of the company on stage here.
And for more information about our upcoming FinovateSpring 2014 event, click here.

Finovate Alumni News– March 27, 2014

  • Finovate-F-Logo.jpgTSYS partners with Virgin Money to provide consumer credit processing services for UK customers.
  • Cachet Financial Solutions appoints Darin McAreavey as EVP and CFO.
  • Prosper to cross the $1 billion mark in personal loans originated through its platform next week, hosts giveaway.
  • Tech Zulu interviews Trustev after the company’s win at SXSW Accelerator.
  • Jumio to help form Identity Security Network with eight leading Bitcoin exchanges.
  • InComm’s corporate B2B store enables retailers to streamline management of corporate gift card sales.
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.

Last Chance for FinovateSpring 2014 Early-Bird Tickets! Register Now to Save!

FinovateSpring 2014 is only five weeks away and the event is on pace to be the largest Finovate event to date. After our sold-out London event in February, we are projecting over 1,400 innovators will descend on Silicon Valley on April 29th and 30th to watch the future of financial and banking technology debut live!

If you would like to join that audience and discover the latest fintech innovations before your competition does, please register before this Friday March 28th in order to lock in your seat AND the early-bird discount.

If it makes it any easier to commit, here is a small sample of the amazing organizations that will be in attendance:

  • Altimeter Group
  • American Savings Bank
  • ATB Financial
  • Bank of the West
  • Bankers Trust
  • BBVA Ventures
  • Bessemer Venture Partners
  • BlackRock
  • C1 Bank
  • Canadian Imperial Bank of Commerce
  • Capital One
  • Celent
  • Celtic Bank
  • Charles Schwab
  • Chase Paymentech
  • CIBC
  • Citi Ventures
  • City National Bank
  • Commerce Bank
  • Commonwealth Bank
  • Consulate General of Canada
  • CFPB
  • Credit Suisse
  • Credit Union Times
  • Digital Insight
  • Discover
  • E*TRADE
  • EverBank
  • Experian
  • Federal Reserve System
  • Fidelity
  • Filene
  • First Data
  • First Republic Bank
  • FirstBank
  • FIS
  • Fiserv
  • Foundation Capital
  • FTV Capital
  • Fujitsu Research
  • General Atlantic
  • H&R Block
  • Hyundai Capital
  • IBM
  • Intel Capital
  • Intuit
  • Jack Henry
  • Jyske Bank
  • Lazard
  • Lexis Nexis
  • Lightspeed Venture Partners
  • MassMutual
  • Mastercard
  • Maybank
  • McKinsey & Co
  • Mergermarket
  • Mohr Davidow
  • Moody’s Analytics
  • Morningstar
  • Mountain America CU
  • NCR
  • NEA
  • New York Life
  • North Hill Ventures
  • U.S. Dept. of Treasury
  • Oracle
  • PNC Bank
  • Principal Financial
  • Sberbank Venture Capital
  • Scotiabank
  • Silicon Valley Bank
  • Stanford University
  • Swedbank
  • TD Ameritrade
  • The Vanguard Group
  • TowerGroup
  • Transamerica
  • TransUnion
  • U.S. Bank
  • USAA
  • VentureBeat
  • Visa
  • Wells Fargo
  • West Point Bank
  • Western Union

Please don’t delay! Tickets are selling fast so please be sure to register now to make sure you get a seat!

FinovateSpring 2014 is sponsored by: The Bancorp, Capital Source, Financial Technology Partners, Hudson Cook, Life.SREDA and Xignite.

FinovateSpring 2014 is partners with: Aite Group, Bank Innovators CouncilBankersHub, Bay Area Fintech Startups, BayPay Forum, California Bankers Association, Government of Canada, Celent, Filene, Hotwire PR, Javelin Strategy, The Paypers, SME Finance ForumVisible Banking, & Western Independent Bankers.

Last Chance for FinovateSpring 2014 Early-Bird Tickets! Register Now to Save!

FinovateSpring 2014 is only five weeks away and the event is on pace to be the largest Finovate event to date. After our sold-out London event in February, we are projecting over 1,400 innovators will descend on Silicon Valley on April 29th and 30th to watch the future of financial and banking technology debut live!

If you would like to join that audience and discover the latest fintech innovations before your competition does, please register before this Friday March 28th in order to lock in your seat AND the early-bird discount.

If it makes it any easier to commit, here is a small sample of the amazing organizations that will be in attendance:

  • Altimeter Group
  • American Savings Bank
  • ATB Financial
  • Bank of the West
  • Bankers Trust
  • BBVA Ventures
  • Bessemer Venture Partners
  • BlackRock
  • C1 Bank
  • Canadian Imperial Bank of Commerce
  • Capital One
  • Celent
  • Celtic Bank
  • Charles Schwab
  • Chase Paymentech
  • CIBC
  • Citi Ventures
  • City National Bank
  • Commerce Bank
  • Commonwealth Bank
  • Consulate General of Canada
  • CFPB
  • Credit Suisse
  • Credit Union Times
  • Digital Insight
  • Discover
  • E*TRADE
  • EverBank
  • Experian
  • Federal Reserve System
  • Fidelity
  • Filene
  • First Data
  • First Republic Bank
  • FirstBank
  • FIS
  • Fiserv
  • Foundation Capital
  • FTV Capital
  • Fujitsu Research
  • General Atlantic
  • H&R Block
  • Hyundai Capital
  • IBM
  • Intel Capital
  • Intuit
  • Jack Henry
  • Jyske Bank
  • Lazard
  • Lexis Nexis
  • Lightspeed Venture Partners
  • MassMutual
  • Mastercard
  • Maybank
  • McKinsey & Co
  • Mergermarket
  • Mohr Davidow
  • Moody’s Analytics
  • Morningstar
  • Mountain America CU
  • NCR
  • NEA
  • New York Life
  • North Hill Ventures
  • U.S. Dept. of Treasury
  • Oracle
  • PNC Bank
  • Principal Financial
  • Sberbank Venture Capital
  • Scotiabank
  • Silicon Valley Bank
  • Stanford University
  • Swedbank
  • TD Ameritrade
  • The Vanguard Group
  • TowerGroup
  • Transamerica
  • TransUnion
  • U.S. Bank
  • USAA
  • VentureBeat
  • Visa
  • Wells Fargo
  • West Point Bank
  • Western Union

Please don’t delay! Tickets are selling fast so please be sure to register now to make sure you get a seat!

FinovateSpring 2014 is sponsored by: The Bancorp, Capital Source, Financial Technology Partners, Hudson Cook, Life.SREDA and Xignite.

FinovateSpring 2014 is partners with: Aite Group, Bank Innovators CouncilBankersHub, Bay Area Fintech Startups, BayPay Forum, California Bankers Association, Government of Canada, Celent, Filene, Hotwire PR, Javelin Strategy, The Paypers, SME Finance ForumVisible Banking, & Western Independent Bankers.

Fintech Funding Bubble?

When we first started Finovate in 2007/2008, during the depths of the financial-services sector collapse, there were maybe a half-dozen major venture fintech fundings per quarter. In comparison, yesterday (25 March 2014), in a single day, 10 fintech fundings were announced totaling nearly $60 million (according to Crunchbase).

Yes, you read it right. TEN in 24 HOURS! And that doesn’t even include ThreatMetrix, whose latest $20 mil round didn’t make it into the database by today’s noon (Eastern Time) cutoff. 

What are the drivers? As you can see from the list below, the digital currency craze attracted nearly half the amount, with $23.5 million sent to three companies. Crowdfunding and other alt-lending has been absorbing large amounts of capital of late, and yesterday pulled in another $20 million in three fundings. The other four ran the gamut from $12 mil into a prepaid card company and $1+ million each in insurance, healthcare payments and stock analysis.

Is it 1999 again? That’s not for me to say. I hope not (obviously). But it’s hard to believe that there is enough revenue to sustain even a small portion of these startups. Clearly investors believe there are major disruptions ahead in all things financial. 

——————————–

Table: Fintech Fundings Announced March 25, 2014

Amount Company Market Segment
$17 mil Circle Internet Financial Digital currency/bitcoin
$14 mil CircleUp Equity-based crowdfunding
$12.2 mil SpendSmart Payments Co Prepaid cards for youth
$5 mil Payward (Kraken) Bitcoin
$4 mil BlueVine Small biz alt-lending
$1.6 mil RealCrowd Crowdfunding real estate
$1.5 mil GoCoin Bitcoin
$1.4 mil SeniorQuote Insurance Insurance lead gen
$1.2 mil FlexMinder Healthcare payments
$1.2 mil Estimize Earnings estimates for stocks
$59 mil TOTAL

Source: Crunchbase, 26 March 2014

Finovate Alumni News — March 26, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgProfitStars’ Gladiator ranks #36 in MSPmentor’s top 501 managed service providers.
  • Kofax Mobile Capture platform wins “Elegant Implementation” category of Housing-Wire magazine’s HW TECH 100.
  • Online TV host Doug Sleeter interviews Xero CEO, Rod Drury.
  • Jumio wins 2014 METAward in “established” category.
  • miiCard bringing its ID verification technology to eMerchantPay.
  • WTOP News asks: is the credit card with keypad from Dynamics is the “card of the future”?
  • MasterCard selects Anna Yip as head of Hong Kong and Macau.
  • Digital Insight to expand online banking portfolio to include shared access and small business payments. Come see Digital Insight demo at FinovateSpring next month.
  • Kraken, the digital currency exchange platform used by Fidor Bank, raises $5 million.
  • ZipZap pauses UK cash-to-bitcoin transfers through its platform.
  • Boku partners with sunhill technologies to enable direct global carrier billing for sunhill’s services.
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 2014 Sneak Peek: Part 1

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The northern hemisphere’s first day of spring last week can mean only one thing: FinovateSpring 2014 is just around the corner. To help you prepare for the upcoming onslaught of innovation, we’ll be dishing up bite-sized pieces of some of the companies you’ll see in San Jose on April 29 and 30.

In this first installment, we showcase ChiaraMail, Dealstruck, Digital Insight, ID.me, LendingRobot, and Verde International:


ChiaraMailLogo

ChiaraMail offers the first technology to protect your customers from becoming victims of e-mail address spoofing, while providing them unprecedented e-mail privacy without the use of encryption.

Features:
    • Eliminates spoofing and the resulting identity theft.
    • Ensures in-transit privacy.
    • Adds critical functionality such as changing e-mails after sending, and improved mail network efficiency.
Why it’s great:
ChiaraMail technology assures your customers that a message that claims to be from you is actually from you.  
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Robert Uomini, CEO/President
Uomini is founder of ChiaraMail and inventor/developer of the patented technology behind ChiaraMail. He has been developing disruptive technologies for many years.
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David Head, Chief Marketing Officer
Head is a senior marketing and sales executive with more than 20 years of experience in enterprise and start-up companies bringing game-changing technologies to market.


DealstruckLogo

Dealstruck is a web-based peer-to-peer lending company that offers a suite of financing products to small business borrowers designed to progressively graduate them toward conventional financing.

Features:

    • Real-time access to borrowers and deals
    • Ability to manipulate data from Dealstruck loan packaging to augment underwriting/yield
    • Opportunity to participate alongside others or take down full loans
Why its great:
Dealstruck provides the most complete suite of financing options for business borrowers and investment opportunities for lenders.  

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Ethan Senturia, co-founder and CEO
Senturia is Wharton Business School graduate who previously ran Internet marketing for a lead generation startup, Ampush Media, and in distressed credit at Lehman Brothers.

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Russell McLoughlin
McLoughlin, co-founder and CTO, is a B.S./M.S. who has worked at the Biodefense Knowledge Center at Lawrence Livermore National Laboratory, and at Google Machine Translation and Apple.

DigitalInsightLogo

Digital Insight’s Promotion Suite for mobile reaches the right customers on their mobile device with the right offers at the moment of truth.

Features:

    • Brings personalized, relevant cross-sell offers from financial institutions to their customers.
    • Engages consumers in their moment of need anywhere, anytime and on any device.
Why it’s great:
Provides personalized engagements and enhanced communications to connect financial institutions with their customers like never before. 

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Karishma Anand
Anand is the director of product management for Digital Insight. She is responsible for driving product strategy, execution for digital banking and payments solutions.
LinkedIn

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Marshall Yuan 
Yuan is a senior product manager at Digital Insight. In this role, he oversees the strategy and go-to-market plan for Android banking applications.
LinkedIn


IDmeLogo

ID.me verifies attributes of a consumer’s identity and ties them to a payment medium

Features:

    • CRM, Offers, Loyalty and Authentication via a payment medium
    • Elimination of physical credentials needed at checkout
    • Fraud prevention for high-value transactions via authentication
Why it’s great:
User-centric digital identity, attribute verification and a mobile device enables the holy grail of marketing: personalization  

IDMeBlake.jpg

Blake Hall 
Hall is a former Army Ranger and Harvard Business School graduate. Thanks to The Economist, he is the first Google result for “muscly entrepreneur.”

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Matthew Thompson
Thompson is a former Army Ranger and a decorated combat veteran. He co-founded ID.me while attending Harvard Business School.
LinkedIn


LendingRobotLogo

LendingRobot automates loan selection and investment in Peer Lending.

Features:
    • Fully automates investment in LendingClub and Prosper
    • Submits orders within one second after new loans appear
    • Automated definition of investment strategies
Why it’s great:
LendingRobot makes investing in Peer Lending simple and efficient, and allows individuals to compete with institutional investors.  

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Gilad Golan, CEO 
Golan shipped almost every product he ever built (and he built a lot of them).
LinkedIn

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Emmanuel Marot, President
Marot uniquely mixes backgrounds in both user experience design and quantitative finance.


VerdeInternationalLogo

Verde International’s Verde Aurora is a next-gen automated loan-underwriting optimization engine satisfying customers, shareholders, regulators, dealers, and other stakeholders, instantly.

Features:
    • The best possible decisions and counteroffers, delivered in seconds
    • Loss models that outperform industry leading models by fourfold
    • Scalable deployment that any financial institution can afford
Why it’s great:
Verde Aurora obsoletes today’s decision systems by integrating behavioral models, DCF analysis and MPP-driven optimization for perfect instant offers, pleasing customers and shareholders alike. 
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Patrick Reily, CEO and Co-Founder Verde International
Reily’s multidisciplinary approach to strategic planning and business development is the result of 25 years of experience in banking and financial services. 
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Robert Hughes, CEO of Finance and Thrift Co.
Bob has over 30 years of experience as the President/CEO of federally insured financial institutions.

Stay tuned for a sneak peek of another six companies later this week.

SmartAsset Brings in $5.2 Million in Series A Financing Round

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The team at SmartAsset, a company that aims to answer consumers’ complex financial questions, has been busy lately. Not only are they preparing their 7-minute demo for FinovateSpring next month, they also recently launched a retirement planning tool, and this week announced they just closed on $5.2 million.

The Series A financing round was led by Javelin Venture Partners. Denis Grosz, SV Angel and Brendan Wallace, founder of Identified, also contributed.

SmartAsset plans to use the round to grow its New York-based team by around a dozen new employees and expand its platform’s capability to give users more control of their financial future.

To see SmartAsset’s newest tech and meet the innovators behind the platform, don’t miss its live demo at FinovateSpring.

Finovate Alumni News — March 25, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgEleven Finovate alums win awards at PYMNTS Innovation Project 2014.
  • Bazaarvoice announces partnership with Spredfast.
  • TechCrunch: Wealthfront, OnDeck, Lending Club, Credit Karma, Betterment, and Kapitall “come of age.”
  • CMS Wire reviews Backbase’s customer experience platform.
  • Top Image Systems’ eFLOW to process the digital census of a country in EMEA in a deal worth more than $1 million.
  • Place2Give releases GIVE-API to provide access to its database of charities as well as its payment processing tech.
  • SmartAsset raises $5.2 million in series A funding. Come see their live demo at FinovateSpring next month in San Jose.
  • Netherlands Queen Maxima visits Entrepreneurial Finance Lab (EFL) to see its psychometric credit scoring methodology in action.
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.

FinanceIt’s New Printed Materials Service Keeps Shoppers Informed of Financing Options at the Point of Sale

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In an era when the Internet of Things is becoming wildly popular, POS financing provider Financeit has opened up a communications channel in the analog world of print.

The Canadian-based company announced today that its users now have the option to order printed materials, such as:

    • Brochures detailing Financeit and its benefit to customers
    • Price tags that help highlight monthly prices
    • Posters and window displays
    • Stickers for front window and cash register 

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These printed materials not only let shoppers know that instant financing is available in the store, but also help to educate them about the merchant’s payment plan options through Financeit.

Users can order these items in the Library section of their account.

Financeit has raised a total of $21 million and demoed at FinovateFall 2013 and FinovateFall 2012.