ShopKeep POS Snags a Spot in the iPad POS Spotlight with $25 Million in Funding

ShopKeep POS Snags a Spot in the iPad POS Spotlight with $25 Million in Funding
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, ShopKeep POS

ShopkeepPOSLogo.jpg

On the heels of this week’s rumors of Square’s possible IPO or acquisition, ShopKeep POS is taking its place in the in the iPad-based POS system spotlight.

Today, the New York-based company announced it raised $25 million in Series C funding.

Contributing investors include:

    • Thayer Street Partners
    • Tribeca Venture Partners
    • TTV Capital
    • Contour Venture Partners
    • Canaan Partners
    • Tom Glocer
    • Matt Coffin
ShopKeepPOSHomepage

ShopKeep, which is proud of its New York roots and already has an international office in Belfast, is looking to open an office on the west coast. It will also use the funding to expand on its product with analytics can be accessed anywhere.

The funding will also help with the growth spirt ShopKeep is expecting from all of the POS systems currently running Windows XP. Since Microsoft is no longer providing support for that operating system, merchants using it will need to seek out a different option.

To see a live demo of ShopKeep POS in action, check it out at FinovateFall 2012.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– April 24, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: Actiance, Check, Check Point, Doxo, Kantox, Klarna, Linkable Networks, Simple, ThreatMetrix
  • Finovate-F-Logo.jpgLinkable Networks teams up with Ohana to deliver card-linked savings.
  • Actiance launches its Actiance Technology Partner Program.
  • Check Point Software Technologies launches new 41000 Security System, expanding its network security portfolio.
  • The Paypers interviews ThreatMetrix CEO, Reed Taussig.
  • Kantox announces formation of European Advisory Board.
  • doxo launches real-time business analytics and market data for service providers.
  • The Simple customer experience as experienced on a 3 week bike trip to FinovateSpring.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Last Chance for FinovateSpring 2014 Tickets!

By Eric Mattson Posted on
Categories: Uncategorized

FinovateSpringButtonLogo.jpg

FinovateSpring 2014 is almost here and we are very excited! With every passing hour, we are skyrocketing towards a new attendance record for the conference (and for any Finovate in our 20-show history)!

Based on current trends, we’re projecting almost 1,400 innovators will be in the audience to watch the future of financial technology unfold. (A few tickets do remain so please register soon to lock in your seat before it is too late.)

While we are thrilled with the record-setting size of the audience, what is truly impressive is the quality of the attendees and the organizations that they represent. Here is just a small sample of the organizations that will be in attendance:

  • A.T. Kearney
  • Bank of Ireland
  • Bank of the West
  • BBVA Compass
  • BECU
  • Bessemer Venture Partners
  • BlackRock
  • BNP Paribas
  • Canaan Partners
  • Capital One
  • Celent
  • Celtic Bank
  • CenturyLink
  • CFPB
  • Charles Schwab
  • Chase Paymentech
  • CIBC
  • Citi Ventures
  • City National Bank
  • Consulate General of Canada
  • Coupons.com
  • Deluxe Corporation
  • Diebold
  • Digital Insight
  • Discover
  • E*TRADE Financial
  • Edward Jones
  • Equifax
  • EverBank
  • Experian
  • Fidelity
  • Fifth Third Bank
  • Filene Research Institute
  • First Data Ventures
  • First Republic Bank
  • FIS
  • Fiserv
  • Forbes
  • Foundation Capital
  • Frost Bank
  • FTV Capital
  • Gartner
  • General Atlantic
  • GoDaddy
  • Goldman Sachs
  • Google
  • Google Capital
  • H&R Block
  • IBM
  • Institutional Venture Partners
  • Intel Capital
  • Intellectual Ventures
  • Intuit
  • Itau Bank
  • Jack Henry & Assoc.
  • KPMG
  • Lazard
  • Lending Club
  • Life.SREDA Venture Capital
  • Lightspeed Venture Partners
  • MassMutual
  • MasterCard
  • Maybank
  • McKinsey & Co.
  • Menlo Ventures
  • Microsoft
  • Mizuho Bank
  • Mohr Davidow Ventures
  • Morningstar
  • Mountain America CU
  • Nasdaq OMX
  • NCR
  • NEA
  • New York Life
  • North Hill Ventures
  • Norwest Venture Partners
  • NTT Data
  • PayPal
  • PNC
  • Principal Financial
  • RBC
  • Ribbit Capital
  • RBS
  • RushCard
  • Sberbank
  • Scotiabank
  • Sequoia Capital
  • Silicon Valley Bank
  • Stanford University
  • Swedbank
  • TD Ameritrade
  • The Bancorp
  • The Vanguard Group
  • TowerGroup
  • Transamerica
  • TransUnion
  • TTV Capital
  • U.S. Bank
  • Union Bank
  • USAA
  • UW Credit Union
  • VentureBeat
  • Visa
  • Wells Fargo
  • Western Union
  • Yodlee

Please don’t delay! Tickets are selling fast and space is limited 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, KPMG, Life.SREDA, UK Trade & Investment, Visa, Xignite and Zions Direct.

FinovateSpring 2014 is partners with: Aite Group, ABA, Bank Innovators Council, BankersHub, BayPay Forum, California Bankers Association, Fin-Tech.org, Government of Canada, Celent, Filene, Hotwire PR, Javelin Strategy, The Paypers, SME Finance Forum, Visible Banking, & Western Independent Bankers.

Share this:

Send Post Twitter LinkedIn Facebook

Fintech Unicorns

By Jim Bruene Posted on
Categories: Mergers & Acquisitions

Gilt statue of a unicorn on the Council House,...

Gilt statue of a unicorn on the Council House, Bristol (Photo credit: Wikipedia)

In January, we identified the billion-dollar fintech unicorns (post), but William Mougayar went deeper looking at the tech companies founded since 2000 valued at $250 million or more. He compiled a list of 235 companies around the globe. Seventeen of those (7%) we consider fintech (15 if you don’t count real estate specialists Zillow and Trulia). The list is not yet complete (more companies are being added by readers), but it’s an interesting data point.

Highlights:

  • Square has been the alpha unicorn (oxymoron?) since it burst on the scene five years ago. But it looks like Lending Club is closing the gap, valued at, $3.8 billion, just (!) $1.2 billion less. However, the peer lender seems to be on the rise and headed to an IPO, while media reports indicate Square may be struggling a bit to maintain its valuation and has scuttled its own IPO plans for this year.  
  • This is the first time we’ve seen Paydiant mentioned in the billion-dollar club, but we are not surprised.
  • Of the still-private companies listed here, all but two are Finovate alums (note 1). 

Table: Fintech companies valued at $250 mil or more (founded 2000 or later)

Company Finovate Alum? Founded Valuation
Square No 2009 $5.0 bil
Lending Club Yes 2006 $3.8 bil
Zillow No 2005 $3.8 bil (public)
Xero Yes 2006 $3.5 bil (public)
Klarna Yes 2005 $2.5 bil
Wonga Yes 2007 $2.0 bil
Stripe No 2011 $1.8 bil
LifeLock No 2005 $1.5 bil (public)
Trulia No 2004 $1.2 bil (public)
Paydiant Yes 2010 $1.0 bil
Climate Corp No 2006 $930 mil (acquired)
Braintree (Paypal) Yes 2007 $800 mil (acquired)
BazaarVoice Yes 2005 $540 mil
Cardlytics Yes 2008 $500 mil
Payfone Yes 2008 $500 mil
Prosper Yes 2006 $500 mil
Vitrue No 2006 $300 mil (acquired)

Source: StartupManagement.org (link), 20 April 2014

—————————————-

Note:
1. Come see the latest unicorn candidates at FinovateSpring next week (29 & 30 April 2014) in Silicon Valley.

Share this:

Send Post Twitter LinkedIn Facebook

Last Chance for FinovateSpring 2014 Tickets!

By Eric Mattson Posted on
Categories: Uncategorized

FinovateSpringButtonLogo.jpg

FinovateSpring 2014 is almost here and we are very excited! With every passing hour, we are skyrocketing towards a new attendance record for the conference (and for any Finovate in our 20-show history)!

Based on current trends, we’re projecting almost 1,400 innovators will be in the audience to watch the future of financial technology unfold. (A few tickets do remain so please register soon to lock in your seat before it is too late.)

While we are thrilled with the record-setting size of the audience, what is truly impressive is the quality of the attendees and the organizations that they represent. Here is just a small sample of the organizations that will be in attendance:

  • A.T. Kearney
  • Bank of Ireland
  • Bank of the West
  • BBVA Compass
  • BECU
  • Bessemer Venture Partners
  • BlackRock
  • BNP Paribas
  • Canaan Partners
  • Capital One
  • Celent
  • Celtic Bank
  • CenturyLink
  • CFPB
  • Charles Schwab
  • Chase Paymentech
  • CIBC
  • Citi Ventures
  • City National Bank
  • Consulate General of Canada
  • Coupons.com
  • Deluxe Corporation
  • Diebold
  • Digital Insight
  • Discover
  • E*TRADE Financial
  • Edward Jones
  • Equifax
  • EverBank
  • Experian
  • Fidelity
  • Fifth Third Bank
  • Filene Research Institute
  • First Data Ventures
  • First Republic Bank
  • FIS
  • Fiserv
  • Forbes
  • Foundation Capital
  • Frost Bank
  • FTV Capital
  • Gartner
  • General Atlantic
  • GoDaddy
  • Goldman Sachs
  • Google
  • Google Capital
  • H&R Block
  • IBM
  • Institutional Venture Partners
  • Intel Capital
  • Intellectual Ventures
  • Intuit
  • Itau Bank
  • Jack Henry & Assoc.
  • KPMG
  • Lazard
  • Lending Club
  • Life.SREDA Venture Capital
  • Lightspeed Venture Partners
  • MassMutual
  • MasterCard
  • Maybank
  • McKinsey & Co.
  • Menlo Ventures
  • Microsoft
  • Mizuho Bank
  • Mohr Davidow Ventures
  • Morningstar
  • Mountain America CU
  • Nasdaq OMX
  • NCR
  • NEA
  • New York Life
  • North Hill Ventures
  • Norwest Venture Partners
  • NTT Data
  • PayPal
  • PNC
  • Principal Financial
  • RBC
  • Ribbit Capital
  • RBS
  • RushCard
  • Sberbank
  • Scotiabank
  • Sequoia Capital
  • Silicon Valley Bank
  • Stanford University
  • Swedbank
  • TD Ameritrade
  • The Bancorp
  • The Vanguard Group
  • TowerGroup
  • Transamerica
  • TransUnion
  • TTV Capital
  • U.S. Bank
  • Union Bank
  • USAA
  • UW Credit Union
  • VentureBeat
  • Visa
  • Wells Fargo
  • Western Union
  • Yodlee

Please don’t delay! Tickets are selling fast and space is limited 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, KPMG, Life.SREDA, UK Trade & Investment, Visa, Xignite and Zions Direct.

FinovateSpring 2014 is partners with: Aite Group, ABA, Bank Innovators Council, BankersHub, BayPay Forum, California Bankers Association, Fin-Tech.org, Government of Canada, Celent, Filene, Hotwire PR, Javelin Strategy, The Paypers, SME Finance Forum, Visible Banking, & Western Independent Bankers.

Share this:

Send Post Twitter LinkedIn Facebook

The Simple Customer Experience

The Simple Customer Experience
By Julie Muhn (@julieschicktanz) Posted on
Categories: Simple

simpleLogoNew.jpg

It’s rare to have an enjoyable experience with customer service, especially when it is tied to something as emotional as personal finances.

This week, I had a pleasant surprise with Simple’s customer service, widely acknowledged for having a customer experience that is so human it’s innovative. 

Here’s what happened:

Bikeshot1

My bike waits for me as I work from a coffee shop in Bandon, OR

I’m on a three-week trip riding my bicycle south along the west coast to FinovateSpring next week. I’ve been working largely from public wifi hotspots at coffee shops and libraries, so I’ve been very wary of the security of my financial information.

I’ve paid for most expenses using my Simple card. When I checked my account last week (under a private wifi network, of course!), here’s what I saw:
SimpleAcctMap
For a person who lives on the west coast and has been making purchases only while traveling down the Oregon coast, the map of my transactions looks as it should– except for one outlier. Florida!?
Upon discovering this inconsistency, I blocked the card to prevent any more unauthorized transactions. Simple is one of the pioneers of this feature.
Then, I immediately contacted Simple’s support via chat. Here’s the conversation:
Me:
Hello, I think there’s a fraudulent charge on my account from a merchant in Florida called CtVcom. 
Do you have any more information on them? The time and place of the transaction doesn’t seem quite right. Thanks.
Heather (Simple):
Hey Julie!
This is actually an ATM withdrawal from an ATM in Bellingham, WA–does that sound more familiar? 
We run our transaction data through a series of calculations in order to provide you with a clean merchant description. We’re typically pretty accurate, but it looks like we didn’t get this one right. I have no idea why it’s showing up as Florida when it was actually in Washington!
If you are ever curious about the details of a transaction, we list the original merchant data in your activity on Simple.com. To view it, select the transaction and click the ‘Edit’ button. The original merchant name will be listed below the modified version.
Let me know if this sounds more familiar, and give a shout if there’s anything else I can help you with!
Me:
Ah-ha! Thanks for the quick reply…
Yes. An ATM withdraw in the town where I live sounds quite right.
Thanks!

Heather (Simple):
No problem, Julie! Glad we were able to get this cleared up!
I just wanted to let you know that your card is still blocked as well. If this was the reason you blocked it, you can feel free to unblock it since it didn’t end up being fraudulent. 🙂
What was done correctly? 
    1. I received a quick reply
    2. The customer service rep (CSR) let me know the back story of how the mistake came about. By being transparent, Simple eased any fears I had of data-sharing, privacy breaches, or major problems with its back-end system.
    3. The CSR gave me instructions on how to figure out merchant information on my own. Empowering the customer with this knowledge has the potential to prevent future calls or chat sessions with CSRs.
Bottom line
Many banks fall short in customer service since the personal touch is difficult to scale.
While most customers appreciate being spoken to in a more informal manner, CSRs still need to make sure they remain compliant and don’t trigger any liabilities by slipping up. But there is a customer satisfaction payback to replacing industry jargon with easy-to-understand language, patience, and a smile.

Simple was acquired by BBVA in February. The bank has vowed to leave the Simple team in place. We hope that’s true. 

To see Simple’s platform in action, check out its demo from FinovateFall 2011.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– April 23, 2014

By David Penn Posted on
Categories: Billhighway, FIS, Fiserv, Linkable Networks, Nous.net, ReadyForZero, TSYS, Xero
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNous launches two-month pilot program with Hong Kong hedge fund. Launched at FinovateEurope in February, Nous’ Spark Profit has 25,000 registered users in 194 countries.
  • Heritage Bank of Nevada to deploy Fiserv’s deposit reclassification solution, ReserveLink.
  • AmeriServ signs real-time account processing agreement with FIS to deploy TrustDesk.
  • TSYS to discontinue operations in Japan after almost 14 years.
  • Billhighway & RallyBound partner to make multi-channel fundraising a reality for nonprofits.
  • Zendesk customer service software partners with Xero.
  • PerformanceIn interviews Linkable Networks CEO, Tom Burgess.
  • Insuritas working with Overstock.com to launch its virtual insurance agency solution. Come see Insuritas at FinovateSpring next week.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– April 22, 2014

By David Penn Posted on
Categories: ACI Worldwide, Kantox, Kapitall, MoneyDesktop, Taulia
  • ACI Worldwide joins electronic payments standards organization, EPASOrg, as a principal member.
  • Taulia named to 2014 Best Places to Work in the Bay Area List.
  • Silicon Slopes features MoneyDesktop’s recruiting efforts.
  • Kapitall launches Klub Kapitall loyalty program with reduced live trading commissions.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Join the FinovateSpring 2014 Community on Bizzabo

Join the FinovateSpring 2014 Community on Bizzabo
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014

While the presenting companies are using the final week before FinovateSpring to place the finishing touches on their demos, you can use the time to connect with fellow attendees.

This year, we’re using Bizzabo to give you an easy way to connect with other attendees.

FS14BizzaboAppPlaced
To check it out, search Bizzabo in the Apple App store or Google Play store. After you’ve downloaded the app, type Finovate into the search bar, sign in, and click the green Join the Community button.
What else can you do with the app?
    • View others in the FinovateSpring 2014 community and mark them as leads
    • Access the agenda and add items to your calendar
    • Check out LinkedIn profiles of speakers
    • Get more information on demoing companies (accessed through the Partners tab on the bottom)
Don’t have a smartphone or want to view on a larger screen? Check out the web app:
Appslide3dotoh
Questions or problems? Contact us at [email protected] and we’ll be happy to help.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– April 21, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: CustomerXPs, Locaid, Roostify, TSYS
  • Finovate-F-Logo.jpgCustomerXPs launches Clari5 Sherlock, which fights multichannel banking frauds with big data analytics.
  • Roostify’s solution highlighted in Secondary Marketing Executive article “The Promise Of The E-Mortgage.” Come see Roostify demo live at FinovateSpring next week.
  • TSYS company NetSpend to develop co-branded prepaid card with Western Union.
  • Locaid to bring location-based services to U.S. Cellular.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Finovate Alumni News– April 18, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: Expensify, FutureAdvisor, Kabbage, Lending Club, MasterCard, MiiCard, Pindrop Security, Tuition.io
  • Finovate-F-Logo.jpgTuition.io brings in funding, surpasses $1 billion in loans under management.
  • eWeek talks to Pindrop Security about scams during tax season.
  • PYMNTS.com chats with miiCard CEO James Varga about identity theft.
  • Financial Samurai interviews FutureAdvisor CEO, Bo Lu.
  • Lending Club raises $115 million in debt and equity; acquires Springstone Financial.
  • Kabbage blog features Expensify in its list of the 10 best mobile apps for small businesses.
  • MasterCard to acquire APAC-region loyalty and rewards provider, Pinpoint.
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.

Share this:

Send Post Twitter LinkedIn Facebook

Who’s Joining You at FinovateSpring?

Who’s Joining You at FinovateSpring?
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2014

You’ve already picked up your FinovateSpring ticket, looked at the full lineup of companies that will demo, and even done your homework by scoping out the entire, 6-part FinovateSpring Sneak Peek series.

What’s next? Now you can check out the word cloud (click to enlarge) that illustrates the titles of everyone who will be in attendance at FinovateSpring.

FS14TitleCloud3

We’ll see you in San Jose!

FinovateSpring 2014 is sponsored by: The Bancorp, Capital Source, Financial Technology Partners, Hudson Cook, KPMG, Life.SREDA, UK Trade & Investment, Visa, Xignite and Zions Direct.

FinovateSpring 2014 is partners with: Aite Group, ABA, Bank Innovators Council, BankersHub, BayPay Forum, California Bankers Association, Fin-Tech.org, Government of Canada, Celent, Filene, Hotwire PR, Javelin Strategy, The Paypers, SME Finance Forum, Visible Banking, & Western Independent Bankers.

Share this:

Send Post Twitter LinkedIn Facebook