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Loyalty program provider Affinity Solutions reported that the company had raised $6.75 million in a combined equity/convertible securities offering.
I’ve spent a fair amount of time playing with digital wallets during the past few weeks. The one with the most traction, at least measured by download activity, is the Lemon Wallet which has been a top-20 free finance app for some time.
While it’s free, does cool tricks with the mobile camera, and is seemingly liked by users, it’s not a transactive service just yet. Basically, using the mobile camera as a scanner, it digitizes all the bank cards, loyalty cards, IDs and various detritus we haul around on our person or stuff into the back of a desk drawer.
Right now, there aren’t many places willing to accept a copy of your card stored on your smartphone. But if you need your healthcare plan number, driver’s license number, or any of your card numbers, they are all stored in a handy location (you could do the same thing with the iPhone’s notepad too).
Obviously, Lemon has bigger plans than simply being a card-number archive. You don’t score $8 million in venture capital unless you have a path towards a $75+ mil valuation.
The startup’s first step towards revenue generation is its $4.99 per month (or $39.99 annually) premium option. For that, users get a bundle of benefits including:
My take: For power users, the BillGuard integration makes Lemon premium worth the $3.33.mo on an annual plan. One mistaken charge discovered every year covers the cost. But account aggregation is not something consumers are used to paying for, so by simply providing fee-based PFM services, it will take time to get meaningful revenues.
But with a solid base of cards aggregated onto the platform, Lemon can leverage the info in many ways. And as mobile proximity payments become technically feasible, the company is in a good position to be one of the major wallet players (or be acquired by one).
Email upsell for the Lemon premium option (5 Feb 2013)
Digital banking solutions startup Banno announced last week that it has appointed industry veteran Charles Potts to fill the newly created role of President.
Potts, who has been working in the fintech industry for 25 years, has an impressive work history. His previous experience includes:
Potts (pictured right) previously sat on Banno’s advisory board, and will now be helping the Iowa-based company accelerate the product delivery strategies of their partnerships and direct growth within the financial services marketplace.
We caught up with Potts this week to get some insight on his recent move:
To learn more about Banno, watch its FinovateFall 2012 demo.
Earlier this month, we incorrectly reported that CoverHound raised $8.1 million, citing the San Francisco Business Times. Below is the corrected report.
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Insurance comparison tool, CoverHound recently raised $4.5 million in Series A funding. The round was led by RRE Ventures of New York. Bullpen Capital and existing investor Blumberg Capital also participated.
This funding, combined with the $750,000 in seed money raised from Blumberg Capital in 2011, brings the San Francisco-based startup’s total funding to $5.25 million.
With this release, CoverHound also disclosed that it is now manages $1 million worth of premiums.
To learn more about CoverHound, watch its FinovateSpring 2012 demo.
Market Watch’s Jennifer Openshaw reviews the ReadyForZero user experience.FinovateEurope 2013 is only 6 days away and we are thrilled to be so close to a capacity crowd at Old Billingsgate Market Hall. There are less than 75 70 tickets remaining and more are selling each hour.
The room is going to be packed with leading executives, entrepreneurs and investors to watch our awesome presenter lineup demo Europe’s latest fintech innovations (sneak peak #1, #2, #3).
Here is just a small sample of the high-quality organizations that will be watching the future of finance and banking unfold live on stage:
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If you’d like to join this audience and find your next competitive innovation edge, limited tickets are still available but selling fast. We’ll see you in London next week!
FinovateEurope 2013 is sponsored by: Bluerock Consulting, Financial Technology Partners, The Bancorp & Yodlee
FinovateEurope 2013 is partners with: BankersHub, Celent, Finance On Windows, Financial Services Innovation Centre, The Financial Services Club, and Hotwire PR
FinovateEurope 2013 is only 6 days away and we are thrilled to be so close to a capacity crowd at Old Billingsgate Market Hall. There are less than 75 70 tickets remaining and more are selling each hour.
The room is going to be packed with leading executives, entrepreneurs and investors to watch our awesome presenter lineup demo Europe’s latest fintech innovations (sneak peak #1, #2, #3).
Here is just a small sample of the high-quality organizations that will be watching the future of finance and banking unfold live on stage:
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|
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If you’d like to join this audience and find your next competitive innovation edge, limited tickets are still available but selling fast. We’ll see you in London next week!
FinovateEurope 2013 is sponsored by: Bluerock Consulting, Financial Technology Partners, The Bancorp & Yodlee
FinovateEurope 2013 is partners with: BankersHub, Celent, Finance On Windows, Financial Services Innovation Centre, The Financial Services Club, and Hotwire PR
Strong holiday sales for the company’s eGift Cards have made CashStar optimistic about the prospects for mobile gift card and “last-minute gifting” demand in 2013.
Lend Acadamey reports: SocietyOne May Be the Most Innovative P2P Lender on the Planet.
In order to help you take full advantage of our biggest FinovateEurope show yet, we’ve launched a mobile app available for iPhone, iPad, and Android devices.
Attendees and followers of FinovateEurope 2013 can download the free app, which features:
On February 12, the first day of the event, the app will update to unveil full demo information for all 64 presenting companies and allow users to:
It’s available for download in the Apple App Store for iOS devices and the Google Play Store for Android devices. To download, use the QR codes or links below.
Apple App Store
If you still haven’t registered for FinovateEurope, there’s still time. Get your ticket here.
Pionneering alternatives to traditional banking sine 2006, Plastyc is unveiling a new option that provides quicker access to checks deposited into their prepaid Visa accounts.
Cachet Financial Solutions integrates with CU Mobile Apps, a provider of mobile banking solutions.
