Blog - Page 945 of 1286

Xero Announces 80% YOY Revenue Growth

By David Penn Posted on April 4, 2014
Categories: Xero

Fresh off news of its integration with Square, cloud accounting software specialist Xero announced the end of a fiscal year that saw the company grow its revenues by more than 80%.A few other metrics just released by the company include:NZ$70 million ($60 million USD) in operating revenuesNZ$93 million ($80 million USD) in annualized subscriptionsNZ$210 million ($180 million USD) in cash on hand to fund growth284,000 paying customers758 employeesXero is the leading accounting software provider in New Zealand, and leads the online market in both Australia and the United Kingdom. In fact, Xero has seen the most significant year-over-year growth in the latter two regions, as well as North America. Metrics on Xero's paying customers by region are below:Australia: 109,000New Zealand: 102,000United Kingdom: 47,000North America: 18,0000The rest of the world: 8,000And here are numbers on Xero's year-over-year growth in subscription revenue:North America: 154%Australia: 120%United Kingdom: 92%The rest of the world: 86%New Zealand: 48%Xero…

Finovate Alumni News– April 4, 2014

By David Penn Posted on April 4, 2014
Categories: Actiance, Equifax, Fiserv, MasterCard, Yseop

Have you checked out the six companies in our latest FinovateSpring 2014 Sneak Peek?MasterCard partners with SIX Payment Services to bring MasterPass to Switzerland.Texas Bay Area Credit Union to deploy Fiserv payments solution suite.New agreement means MasterCard EMV debit cards will run on First Data's STAR Network.Pymnts News: Equifax partners with Jumio for Mobile Commerce.Actiance's partnership with Trustlink to give it access to a growing market in Africa.D magazine interviews Yseop CEO John Rauscher. See Yseop demo at FinovateSpring in San Jose.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 4

By David Penn Posted on April 3, 2014
Categories: defi Solutions, Digital Retail Apps, FinovateSpring 2014, FinovateSpring 2014 Sneak Peek, Kofax, Rippleshot, StrategyCorps, Vorstack

What's the only thing better than getting to know 18 of the companies that will demoing at FinovateSpring 2014 less than a month from now?Meeting six more.Here's the fourth installment of our FinovateSpring 2014 Sneak Peek series. In today's edition, we'll introduce you to a sextet of innovators in fields ranging from loan origination and in-store offers to mobile data capture, mobile banking, and mobile security.If you missed any of our previous editions, the links below are a great way to get caught up. Sneak Peek #1Sneak Peek #2Sneak Peek #3In the meanwhile, get ready to meet defi Solutions,Digital Retail Apps, Kofax, StrategyCorps, Rippleshot, and Vorstack. And to save your spot at FinovateSpring, April 29-30 in San Jose, California, click here to buy your ticket today.defi Solutions takes auto lending to the next level with its SaaS Loan Origination System that can be configured and launched within days not months.Features:Affordable, enterprise…

Weathfront Raises $35 Million in Round Led by Index Ventures, Ribbit Capital

By David Penn Posted on April 3, 2014
Categories: Wealthfront

Investment management service Wealthfront will have some investment management of its own to do in the coming weeks and months: the company just reported that it has raised $35 million in new capital.The funding round was led by Index Ventures and Ribbit Capital, and included the participation of existing investors such as The Social+Capital Partnership, Greylock Partners, and DAG Ventures.Wealthfront's total funding now stands at $65 million.Wealthfront is one of the largest automated investment management services in the world. In a market crowded with competitors, Wealthfront continues to see a bright future in automated investing thanks to the 90 million person, $2 trillion dollar millennial generation.Said the company in a statement: "(Millennials) have grown up with software and lived through two market crashes. They overwhelmingly seek an investment solution that is automated, index-based, and low-cost."A few metrics from Wealthfront:Growth of more than 700% since the beginning of 2013Manages more than…

Finovate Alumni News– April 3, 2014

By David Penn Posted on April 3, 2014
Categories: Actiance, BancVue, Braintree, Insuritas, Kantox, Misys, Nostrum Group, PayPal, Top Image Systems

Top Image Systems wins awards for innovations in crowdsourcing and mobile imaging.Insuritas E-InsuranceAISLE Platform generated more than 2 million product impressions in March. The technology is deployed in more than 50 banks and credit unions, supporting more than $1.5 million in product sales. See them demo at FinvoateSpring.Misys trade and supply chain finance processing platform embraced by National Australia Bank (NAB).Nostrum Group announces opening of new office in London.Kantox integrates AU10TIX B.O.S solution to auto-classify, authenticate and extract data from of images of customers ID documents.Compliance Week looks at how Actiance helps banks stay compliant with social media.The Australian looks at PayPal's Braintree.BancVue launches new youth spending app, PiggyBot.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.

Finovate Alums Raise $600 Million in First Quarter of 2014

By David Penn Posted on April 2, 2014
Categories: Azimo, BankBazaar, Birdback, CAN Capital, Credit Karma, Doxo, Kantox, Kapitall, Kensho, Klarna, On Deck Capital, PayNearMe, Payoneer, peerTransfer, Realty Mogul, Red Zebra, SmartAsset, SocietyOne, Spreedly, ThreatMetrix, Tradeshift, ZenPayroll, Zopa

Want some context on the torrid pace of fintech financing in the first three months of 2014?Consider this: a year ago, fourteen Finovate alums raised a total of more than $150 million in the first quarter of 2013.A year later, we have just nine alums raising more than twice as much in the month of March alone.March Madness, indeed.Q1 of 2014 saw 23 Finovate alums walk away with just under $600 million in capital. The biggest haul of the quarter came courtesy of Klarna, which raised more than $125 million. But there were plenty of similarly impressive fundraisings, including the $85 million raised by Credit Karma, and the $77 million and $75 million secured by OnDeck and Tradeshift, respectively.Total raised = More than $592 millionJanuary -- $91 million raised by seven companiesBankBazaar: $13 million -- blog postCAN Capital: $33 million -- blog postdoxo: $3.5 million -- blog postKensho: $10 million -- blog postpeerTransfer:…

Fintech Funding Bubble: April Fool’s Day Edition

By Jim Bruene Posted on April 2, 2014
Categories: Fundings, Insurance

Photo credit: pedrosekTo prove that last week's post where 10 fintech fundings were announced in a single day, I submit for evidence yesterday's April Fool's Day activity. Seems as if companies might want to avoid announcing new fundings on April 1, but that sometimes inauspicious date didn't faze the pace yesterday as seven fintech players revealed total equity investments of $33.5 million. Adding to that figure is $22.5 mil in debt, for a total of $56 million in new capital. $22 million to BIMA Mobile to expand its mobile micro-insurance services in developing markets. The company says it already has 7 million customers. $20 mil in post-IPO debt to Identive Group to further its identity-management platform (NASDAQ: INVE)$4 mil to Citizen.VC in advance of its April launch of an AngelList-like service for funding startups (link to temporary launch page)$4 mil to OpenFin to expand its financial trading platform $2.5 mil Series A for WealthForge to build…

Finovate Alumni News– April 2, 2014

By David Penn Posted on April 2, 2014
Categories: Andera, Check Point, FIS, Narrative Science, Pindrop Security, TradeKing, Tradeshift

Bottomline Technologies buys Andera for $48 million.Marketing Land takes a look at Narrative Science's free, Google Analytics app, Quill Engage.Saudi Arabian Bank Albilad to deploy FIS' card management system and switching platform.TradeKing promotes Kevin Delo to Chief Information Officer.Startups.co.uk interviews Tradeshift CEO, Christian Lanng.Atlanta Business Chronicle looks at Pindrop Security's growth: doubling its workforce and has quadrupled its workspace.Check Point Software Technologies launches new ZoneAlarm 2015 security product line.Finovate alums raise $600 million in first quarter of 2014.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 3

By Julie Muhn (@julieschicktanz) Posted on April 1, 2014
Categories: CREALOGIX, D3 Banking, Endeavour, FinovateSpring 2014, FinovateSpring 2014 Sneak Peek, Jumio, Visible Equity, Zoot

This week's sneak peek of FinovateSpring 2014 features everything from account opening to loan underwriting, and is just a small selection of items we'll see in San Jose on April 29 and 30. Get your ticket here to satisfy your fintech hunger.If you missed the two installments from last week, you can catch them here:Sneak Peek Part 1Sneak Peek Part 2CREALOGIX, the Swiss market leader for digital banking and e-learning platforms, presents its comprehensive digital banking suite with a seamlessly integrated e-learning management system.Features:Provides contextual compliance where neededSupports client advisors and enhances quality of advice Enables effortless learning combined with rewards (gamification)Why it's great:The CREALOGIX digital banking suite with integrated e-learning management system offers clear added value for both sides: banks and their clients. Presenters:Geraldine Critchley, Head Product MarketingCritchley is responsible for mastering the digital mindset of the next generation online banking and dealing with all inbound/outbound marketing activities concerning digital…

Bottomline Technologies Buys Andera for $48 Million

By David Penn Posted on April 1, 2014
Categories: Andera, oFlows

Innovations in customer onboarding may be one of the less glamorous niches in financial technology. But there's no denying the value of meeting your customers on the channel of their choice.This is the thinking that helps explain Bottomline Technologies' purchase of financial software-as-a-service specialist Andera.In a deal valued at $48 million ($44.5 million in cash and just over 100,000 shares of stock valued at just over $35 per share), Bottomline sees its acquisition as a way of helping its digital banking clients "grow revenues and compete and win" in the words of Norm DeLuca, General Manager of Banking and Financial Services for Bottomline.Of Andera's virtues, none is more vivid than its oFlows platform, which the company purchased in 2011. The Best of Show winning technology (FinovateSpring 2010) makes customer onboarding and account opening easier for banks and credit unions whether customers are accessing their financial institution online, in-person, or through…

Finovate Alumni News– April 1, 2014

By Julie Muhn (@julieschicktanz) Posted on April 1, 2014
Categories: Actiance, Bolstr, FIS, Misys, Truphone

NBC Chicago hosts Bolstr to discuss crowdfunding and SMB growth.Actiance's Socialite gets new features for better UX on native websites & more integrations w/ CRM platforms.FIS' licensing agreement to make the Visa EMV debit solution available to all NYCE debit network participants.Truphone is offering unlimited voice and SMS recording through June.Misys launches new Regulatory Reporting Service to help managers and banks meet EMIR regulations.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.

ID Analytics Launches ID Score 9.0, Partners with ThreatMetrix and Others

By Julie Muhn (@julieschicktanz) Posted on March 31, 2014
Categories: ID Analytics, ThreatMetrix

Today, San Diego-based ID Analytics launched the newest version of its flagship fraud detection platform, ID Score.This newest release improves the effectiveness of the company's existing identity fraud detection by:Providing more insight into consumer behaviorUncovering the risk level of the user's deviceFinding associations between device usage and fraudulent occurrencesAs a part of this effort, it has partnered with device authentication and intelligence providers, including ThreatMetrix, to incorporate their risk assessments into the consumer's ID score itself.The end result, ID Score 9.0, is a fraud assessment that is composed of both identity and fraud risk.ID Analytics demonstrated My ID Alerts at FinovateSpring 2011 and ThreatMetrix debuted its Fraud Prevention 2.0 at FinovateStartup 2009.