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7 Alum Leaders Named U.K.’s Coolest People in Fintech

7 Alum Leaders Named U.K.’s Coolest People in Fintech
By Julie Muhn (@julieschicktanz) Posted on
Categories: Algomi, Azimo, Blockchain, Nutmeg, Revolut, TransferWise, Zopa

BritishFlagBusiness Insider rounded up the 40 most exciting people in fintech in the United Kingdom. As it turns out, Brexit isn’t enough to shake the fintech scene in the U.K. In fact, according to KPMG, British fintech startups raised $962 million in 2015. Of that amount, London companies raised $743 million.

The list includes these seven leaders from Finovate and FinDEVr alumni:

Taavet Hinrikus, CEO and cofounder of TransferWise

Marta Krupinska, General Manager and cofounder of Azimo

Nikolay Storonsky, CEO and cofounder of Revolut

Giles Andrews, Executive Chairman and cofounder of Zopa

Peter Smith, CEO and cofounder of Blockchain

Usman Khan, CTO and cofounder of Algomi

Nick Hungerford, CEO and founder of Nutmeg

Check out all 40 leaders who made the list. Wonder how Business Insider made its selections? Here’s how the publication described its process:

We looked at who’s done cool and interesting things in the past year, including companies that have raised money or grown rapidly. We’ve also tried to include some of the less obvious names—the people doing great things behind the scenes—as well the faces out front.

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Finovate Alumni News

By David Penn Posted on
Categories: Algomi, Fiserv, Handpoint, Temenos, Virtual Piggy, Walletron, Xero

On Finovate.com

  • Check out this week’s FinDEVr APIntelligence.
  • Fiserv Adds clearXchange P2P Payments to its Offerings
  • Virtual Piggy Gets Real, Transitions from Payment Card to Mobile App
  • 7 Alum Leaders Named UK’s Coolest People Fintech

Around the web

  • Pennsylvania State Employees CU implements account-origination module from Temenos.
  • Algomi unveils its sell-side engine, Synchronicity, as an SaaS solution.
  • Walletron announces strategic partnership with payment-services company Speedpay.
  • Handpoint Extends Global Processor Reach With EMV Certification To EVO Payments International
  • Xero launches first direct bank feeds in Asia with Singapore’s UOB.

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 Alumni News

By David Penn Posted on
Categories: Algomi, authenticID, Avalara, CardFlight, cbanc Network, FutureAdvisor, Ixaris, On Deck Capital, OutsideIQ, Praesidio, Ripple, SayPay, Signifyd, VIX Verify

On Finovate.com

  • Check out this week’s FinDEVr APIntelligence.
  • “Avalara, Signifyd Bring Sales Tax, Fraud Solutions to Magento E-Commerce Marketplace”
  • “Ixaris Receives $6 Million in Funding After Spinning Off from Parent Company”

Around the web

  • BankNxt’s BIGcast interviews CEO Steve Hoffman of SayPay Technologies.
  • OutsideIQ joins fintech accelerator, Bank Innovation INV, as an API partner. See OutsideIQ at FinovateSpring in San Jose next month.
  • Vix Verify opens new offices in Atlanta, Georgia’s Transaction Alley as part of American expansion.
  • Algomi partners with IPC Systems to support buy-side users of its Honeycomb network.
  • Bank Innovation takes a look at CBANC and its effort to make social media work for banks.
  • “AuthenticID Wins All Payments Expo Shark Tank with CatfishAIR Identity Verification Solution”
  • Chase launches OnDeck-powered SMB Loan platform.
  • “CardFlight and Miura Systems Partner to Offer EMV and NFC Mobile POS Solution to the U.S Market”
  • MIT adopts Ripple validator to advance consensus and blockchain research.
  • “LPL Selects BlackRock’s FutureAdvisor as Robo Platform”
  • CIOReview names Praesidio in list of top 20 Most Promising Banking Technology Solution Providers for 2016.

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 Alums Dominate The FinTech50’s Inaugural Hall of Fame

Finovate Alums Dominate The FinTech50’s Inaugural Hall of Fame
By David Penn Posted on
Categories: Algomi, BankBazaar, BehavioSec, Blockchain, Currency Cloud, DemystData, eToro, Fenergo, Fidor Bank, Five Degrees, InvoiceSharing, Kantox, Klarna, Mambu, Meniga, Nutmeg, Personetics, Revolut, TransferWise, Yoyo, Zopa

Fintech50_homepage_April2016

FinTechCity unveiled its new FinTech50 Hall of Fame this week at the Money 20/20 event in Copenhagen, Denmark. Finovate alums took six out of the ten spots.

The “founding ten members” of TheFinTech50 Hall of Fame are companies that “have featured on our radar since the days when they could reasonably be called startups,” say FinTech50 founders Julie Lake and Nicky Cotter, writing in The FinTech50 2016 Yearbook. “In recognition of their pioneering spirit and competitive staying power, we felt they deserved their own special place within a list of remarkable game-changers,” the founders wrote.

FinTechCity also presented The FinTech50 2016, its roster of the fifty hottest FinTech businesses in Europe. Of the 50 companies selected by the panel of more than 30 industry experts who poured over more than 1,200 candidates, a full baker’s dozen were Finovate—or FinDEVr—alums.

Read the full list.

Lake and Cotter called this year’s competition “the most hotly contested FinTech50 in its four-year history.” The founders also highlighted differences from the 2015 list, with this year’s roster featuring more companies innovating in “security, compliance, and risk.”

Also noteworthy was the number of European fintech companies from the United Kingdom (more than 30 out of the 50). The founders credited this to the U.K.’s broader access to funding, as well as the region’s local talent, and “favorable regulatory environment.” Lake and Cotter also praised other emerging European fintech communities in Amsterdam, Berlin, and Stockholm.

In addition to The FinTech50 2016 and its new Hall of Fame, FinTechCity also announced its FinTech20 India and FinTech20 Hong Kong. Finovate alums were represented here with Demystdata (FinovateAsia 2012) earning a spot in the Hong Kong 20, and Bank Bazaar (FinovateAsia 2012) getting recognition in the India 20. Lastly, The FinTech50 shared “The Hot Ten,” a roster of companies on their watch list for 2016. Here, Finovate alum, Ormsby Street (FinovateFall 2015), was recognized on that list.

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Finovate Alums Make Tech Tour’s 50 High Growth European Companies

Finovate Alums Make Tech Tour’s 50 High Growth European Companies
By David Penn Posted on
Categories: Algomi, Currency Cloud, eToro, Feedzai, Fenergo, Kreditech, Tradeshift

TechTourGrowth50_2016Tech Tour recognized seven Finovate alums in its 2016 Tech Tour Growth 50 (TTG50), a roster of the fastest-growing technology companies in Europe. Making this year’s cut were:

Managing Director of The Tech Tour William Stevens said that recognizing these companies was important in a world otherwise focused on “the billion-dollar unicorn successes.” He pointed out that the Tech Tour Growth 50 companies had “created more than 8,000 high-tech jobs, attracted $3.5 billion of investment, and have an estimated combined valuation of $14.2 billion.”

“This is a clear demonstration of Europe’s strength, potential and competitiveness in scaling-up tech businesses,” Stevens said.

A few additional metrics on the companies of the 2016 Tech Tour Growth 50:

  • 90%: percent founded in the last 10 years.
  • 22 months: the average time from formation to first funding
  • 66%: percent with at least one U.S. investor

This year’s list was chosen by a selection committee chaired by Jean-Michel Deligny, managing director of Silverpeak Investment Bank. Serving on the committee were representatives of:

  • Accel Partners
  • Amadeus Capital Partners
  • Bank of America Merrill Lynch
  • DN Capital
  • Earlybird
  • Highland Capital Partners Europe
  • Idinvest Partners
  • The World Economic Forum.

Companies for the TTTG50 were chosen based on “innovation potential, management team, and pedigree,” as well as factors such as sales growth. Candidates were required to have a minimum of €10 million in revenue, €20 million in total funding, and a valuation of at least €100 million but less than €1 billion.

The Tech Tour was founded in 1998 and is based in Geneva, Switzerland.

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Algomi Gains Investment from Former Thomson Reuters CEO Tom Glocer

Algomi Gains Investment from Former Thomson Reuters CEO Tom Glocer
By David Penn Posted on
Categories: Algomi, Funding, Fundings

Algomi_homepage_Mar2016

Tom Glocer, managing partner of Angelic Ventures and former CEO of Thomson Reuters (2008 through 2011), will work with fintech innovator Algomi as a strategic adviser. Glocer also made a significant investment in the company, though the amount of the investment was not disclosed.

“We’re empowering our customers by giving them more actionable intelligence on the data they already hold within their businesses,” Algomi CEO Stu Taylor explained. “Tom’s experience  with Thomson Reuters and his track record of working with other successful financial services businesses will be invaluable for us as we continue to develop our offering.”

Algomi_stage_FF2014

Pictured: Algomi CEO Stu Taylor demonstrated Algomi’s Honeycomb technology at FinovateFall 2014 in New York.

Algomi provides a social networking and market-intelligence platform for professionals working in the fixed-income bond markets. The company’s Honeycomb network connects fixed-income sales forces, traders, and customers with the goal of increasing both the number of trading and investing opportunities as well as the velocity of large transactions in what the company calls a “liquidity-constrained world.” Honeycomb uses custom algorithms to push the best deals and opportunities to fixed-income salespeople in real-time, providing a greater degree of transparency and the lowest level of market disruption when trading and investing in often-illiquid markets.

TomGlocer_AlgomiCalling the lack of liquidity as a major issue plaguing fixed-income investing, Glocer (right) says, “Algomi’s approach of creating a bank balance-sheet based on actual data, and virtualizing the assets in the market is fascinating, and I’m looking forward to working closely with them.”

The company’s current clients include Deutsche Bank, HSBC, Alliance Bernstein, JP Morgan, as well as hedge funds, insurance companies, and sovereign wealth funds. More than 160 buy-side firms, 15 banks, and hundreds of registered users around the world have signed on to be a part of Algomi’s Honeycomb network.

In addition to Glocer, Howard Edelstein will join Algomi’s Board of Directors. Edelstein had served the company as strategic adviser for the past two years, and is the current chairman of REDI Holdings.

“I’ve been working closely with Algomi for two years,” Edelstein said, “and believe the company delivers a second-to-none approach to a bank’s fixed-income, liquidity-sourcing needs.”

Founded in 2012 and headquartered in London, Algomi demonstrated Honeycomb, its buy-side graphic user interface, at FinovateFall 2014.

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Finovate Alumni News

By David Penn Posted on
Categories: Algomi, App Annie, Blackhawk Network, Dealflow, Misys, Prosper, Temenos, Top Image Systems

On Finovate.com

  • “DealFlow Closes Million Dollar Convertible Note”
  • “Algomi Gains Investment, Strategic Advisory from Tom Glocer, former Thomson Reuters’ CEO”
  • “Prosper Marketplace Teams Up with HomeAdvisor to Improve Access to Home Improvement Financing”

Around the web

  • Misys FusionBanking Loan IQ goes live at Virtus Partners.
  • Top Image Systems launches its next-generation accounts-payable automation solution, eFLOW AP.
  • Blackhawk Network names Anil D. Aggarwal to its board of directors.
  • App Annie acquires app marketing data company, AppScotch.
  • Temenos again recognized by IBS Intelligence as best-selling core banking software provider.

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 Alumni News

By David Penn Posted on
Categories: Algomi, EZBOB, Nutmeg, Scalable Capital, Thomson Reuters

On Finovate.com

  • “EZBOB raises 20 million in Series C round led by Bank Leumi, Oaktree”

Around the web

  • Quartz asks, “Should Venmo Buy a Bank?”
  • HuffPost Business features Simply Tapp and Kontomatik in its list of the five most useful APIs in the financial world.
  • Algomi adds Glocer as strategic adviser, appoints Edelstein to board.
  • CityWire U.K. looks at Nutmeg and Scalable Capital in a discussion on the robo-adviser phenomenon.
  • NAB Asset Servicing selects Thomson Reuters as its preferred data partner.

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 Alumni News

By David Penn Posted on
Categories: Algomi, Check Point, Credit Karma, Experian, Featurespace, FIS, Fiserv, IDscan Biometrics, ITSector, Mitek, Personetics, Pindrop Security, SBDA Group, SizeUp, Venmo

On Finovate.com

  • “Mitek Partners with Harland Clarke to Improve RDC Security”
  • “Pindrop Raises $75 Million for Phone-printing Authentication”

Around the web

  • Gate City Bank ($1.9 billion in assets) chooses DNA core account processing platform from Fiserv.
  • Powered by FIS, the Venture Center is now accepting applications for its VC Fintech accelerator.
  • Venmo adds in-app merchant payments.
  • Algomi wins Risk Magazine’s “Trading Technology Product of the Year for the Buy-Side” for a second year in a row.
  • Experian enhances Small Business Credit Share program.
  • Credit Karma surpasses milestone: serves 50 million users who use Credit Karma to manage $3 trillion in debt.
  • Check Point releases new hardware to address cyber security and protection.

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

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20 Alums Make the First Forbes Fintech 50

20 Alums Make the First Forbes Fintech 50
By Julie Muhn (@julieschicktanz) Posted on
Categories: Algomi, Betterment, Braintree, Chain.com, Credit Karma, HelloWallet, Kensho, LearnVest, Motif Investing, Personal Capital, Plaid, Prosper, Quantopian, Ripple, Simple, TransferWise, TrueAccord, Uncategorized, Vouch, Wealthfront, Xignite

ForbesFintech502015

There’s more to the Forbes Fintech 50 list than just an awesome logo featuring George Washington wearing wrap-around shades. Forbes compiled the list by soliciting information from 300 startups, then interviewing more than 150 CEOs, founders, and industry experts. To make the cut, companies were required to have operations in the U.S. and a viable product.*

Simply put, Forbes describes the companies on the list as “small firms destined to have a big impact on your financial future and possibly upend your portfolio.”

This year, 20 Finovate and FinDEVr alums made the cut:

Algomi

  • Founded: 2012
  • HQ: London
  • Funding: $30 million
  • Customers: 14 large banks and 140 buy-side firms
  • FinovateFall 2014 demo

Betterment

Braintree

Chain

Credit Karma

HelloWallet

  • Founded: 2009
  • HQ: Washington, D.C.
  • Exit: Purchased by Morningstar in 2014 for $52.5 million
  • FinovateFall 2015 demo

Kensho

LearnVest

  • Founded: 2009
  • HQ: New York City, New York
  • Exit: Purchased by Northwestern Mutual in 2015 for $250+ million
  • FinovateFall 2013 demo

Motif

Personal Capital

Plaid

Prosper

Quantopian

Ripple

Simple

TransferWise

TrueAccord

Vouch

Wealthfront

Xignite

*While the list excludes financial giants, Forbes included startups acquired by larger companies but operating independently.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Algomi, BBVA, BioCatch, Credit Karma, DarcMatter, Encap, Entersekt, Hyperwallet, Insuritas, MasterCard, Matchi, WorldPay

On Finovate.com

  • “Finovate Debuts: DarcMatter Shines a Light On Alternative Investments”
  • “BBVA’s Wallet App Tops One Million Downloads; Goes Live in Turkey This Week”

Around the web

  • Magnify CU partners with Insuritas to launch an insurance agency.
  • Worldpay employees evaluate use of finger-vein technology to authenticate payments at the POS without need for a card.
  • mydesq selects Encap Security to boost productivity and engagement for wealth managers.
  • Let’s Talk Payments interviews Brent Warrington, Hyperwallet CEO.
  • MasterCard announces Ed McLaughlin as new chief information officer.
  • VentureBurn highlights Entersekt: SA’s fintech gem making it safe for millions to bank, shop online.
  • Algomi’s Honeycomb named “Product of the Year” and “Best Buy-Side Newcomer” in Waters Technology’s Buy-Side Technology Awards.
  • The Next Web profiles BioCatch, a biometric security specialist.
  • FusionWire looks at ways that banks can use Matchi to build relationships with fintech startups.

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

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Algomi, Cachet Financial Solutions, Encap, Feedzai, Kabbage, LiquidLandscape, Mambu, Motif Investing, On Deck Capital, PayItSimple, SecondMarket

On Finovate.com

  • Finovate debuts: “LiquidLandscape’s Visualization Solves Scattered Data”
  • “FinDEVr Launches in New York, March 2016″
  • “OnDeck adds new small business lending options”

Around the web

  • The Financial Brand: Beyond the Arc’s Steven Ramirez considers three fintech trends from Finovate alums.
  • Nasdaq acquires SecondMarket to help startups sell shares.
  • Motif Investing partners with J.P. Morgan to offer investors fractional IPO shares.
  • ING and Kabbage partner to bring platform lending to Europe’s small businesses.
  • PayItSimple USA changes its name to Splitit.
  • Encap Security announces formation of new advisory board.
  • Algomi wins “Most Innovative Trading Product/Service” category at the Financial News Awards in Trading & Technology for the second consecutive year.
  • OakNorth Bank chooses Mambu as its banking technology partner.
  • Feedzai introduces data science studio for fraud prevention.

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

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