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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bill.com, Check Point, DarcMatter, Dream Payments, Kreditech, Larky, Lendio, Malauzai Software, Narrative Science, PayItSimple, peerTransfer, Prosper, Rippleshot, WorldPay

On Finovate.com

  • “Finovate Debuts: Dream Payments Solves Your Payment-acceptance Nightmare”
  • “Bill.com Unveils its iOS App for Small Business Owners”
  • “Malauzai Software Raises $11 Million in Venture Funding”

Around the web

  • Bloomberg: Barclays’s Michael Rake to Become WorldPay Chairman in September. See WorldPay at FinDEVr this October.
  • PaySimple introduces BookSimple, its cloud-based scheduling software.
  • Check Point partners with Vmware partner to bolster security in data centers.
  • Boston Business Journal: peerTransfer to open office in Shanghai, China, this year.
  • Bank Innovation reviews Narrative Science and its plans to enter the robot-advisor market.
  • Let’s Talk Payments interviews Ron Suber, Prosper President.
  • Credit Union Times features Rippleshot CEO and co-founder Canh Tran in its column on fraud detection for CUs.
  • Sang Lee, CEO of DarcMatter, quoted in RIA Biz column on robo-advisors.
  • PYMTNs.com profiles Kreditech as the company pursues Series C investment.
  • Belvoir FCU launches Belvoir Buck$ loyalty program courtesy of partnership with Larky.

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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$680 Million Raised by 29 Alums in Q1 2015

$680 Million Raised by 29 Alums in Q1 2015
By David Penn Posted on
Categories: Advanced Merchant Payments, AdviceGames, Aire, App Annie, Ayasdi, Betterment, Bill.com, BlueVine, Bolstr, Coinbase, CoverHound, Finsphere, Funding, Fundings, Global Debt Registry, Kofax, LendingRobot, Lendio, Linkable Networks, Micronotes, Motif Investing, peerTransfer, Pindrop Security, Q2, Ripple, SimplyTapp, Spreedly, Taulia, TransferWise, TrueLink Financial, Xero

cartoonmoneystackThe biggest surprise in our look at first-quarter funding is that the $677 million amassed by 29 Finovate alums was more than 20% of the $3.2 billion invested in the entire worldwide fintech sector.

The $677 million raised was $85 million (+14%) above the same quarter a year ago, and more than triple the first quarter of 2013.

Q1 2015 was also $133 million above the $544 million mark set in the fourth quarter of 2014.

It will be worth watching to see if this record-setting first quarter for Finovate alum fundraising will be a sign of more great things to come for capital-raising in 2015.

Top 10 Overall Investments

  1. Xero: $111 million in February
  2. Coinbase: $75 million in January
  3. Betterment: $60 million in February
  4. TransferWise: $58 million in January
  5. App Annie: $55 million in January
  6. Ayasdi: $55 million in March
  7. Motif Investing: $40 million in January
  8. Ripple Labs: $30 million in January
  9. Bill.com: $50 million in February
  10. Pindrop Security: $35 in February

Previous Quarterly Comparisons

  • Q1 2015: More than $676 million raised by 29 alums
  • Q4 2014: More than $544 million raised by 25 alums
  • Q1 2014: More than $600 million raised by 8 alums
  • Q1 2013: More than $155 million raised by 14 alums

January: More than $275 million raised by 14 alums

February: More than $264 million raised by 8 alums

March: More than $136 million raised by 7 alums

If you are an alum that raised money in the first quarter of 2015, and do not see your company listed, please drop us a note at research@finovate.com. We would love to share the good news! Funding received prior to becoming an alum not included.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, Avoka, Bill.com, BillGuard, Cloud Lending, Coinbase, Credit Karma, Credit Sesame, D3 Banking, INETCO Systems, Intuit, Jumio, Kabbage, Kony Solutions, Kreditech, MasterCard, On Deck Capital, PayItSimple, PayPal, planwise, Prosper, Ripple, TransferWise, Trulioo, ValidSoft, Venmo, WePay, Zopa

On Finovate.com

  • PayItSimple Pulls in $10 Million Line of Credit
  • Ripple Labs Reels in $28 Million, Eyes Asia Expansion
  • P2P Lending Meets High Street Banking as Metro Bank Partners to Lend via Zopa
  • Credit Sesame Raises $16 Million in New Funding
  • Planwise Raises $750,000, Nearly Doubling Total Capital

Around the web

  • Fox Small Business News names 11 Finovate alums in list of Hot Fintech Startups to watch.
  • Edenred México S.A. incorporates INETCO’s Insight software platform.
  • D3 Banking taps Jeffrey Walker as chief information security officer.
  • MasterCard launches P2P payments service, MasterCard Send, to help businesses reimburse rebate consumers without checks.
  • nTrust to deploy ID verification technology from Trulioo.
  • North American Savings Bank (NASB) partners with ACI Worldwide for online, mobile banking and billpay.
  • Avoka, Bill.com, BillGuard, CoinBase, Credit Karma, Jumio, Kabbage, Kreditech, OnDeck, Prosper, TransferWise, Trulioo, Venmo and WePay earn spots on Inc.com’s “20 Financial Technology Startups You Need to Know.”
  • ImageWare selects ValidSoft’s voice biometrics solution.
  • Kony teams with Citrix, to offer customers a mobile app solution from mobile design and development to enterprise mobility operations.
  • Altifi.com features Cloud Lending Solutions’ Cloud Lending Exchange.
  • ZD net: Intuit tightens PayPal integration with data synchronization app.

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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AlwaysOn’s OnFinance Top 100 Features 30 Finovate Alums

AlwaysOn’s OnFinance Top 100 Features 30 Finovate Alums
By David Penn Posted on
Categories: Bill.com, Blockchain, CAN Capital, Cardlytics, CashStar, Coinbase, Credit Karma, Dealstruck, DemystData, Dwolla, Expensify, Flint Mobile, FutureAdvisor, Kabbage, LendUp, Motif Investing, PayNearMe, peerTransfer, Personal Capital, Prosper, Quantopian, Ripple, Swipely, Wealthfront, WePay, Xignite

AlwaysOn_homepage

More than a quarter of the companies recognized in AlwaysOn’s first OnFinance Top 100 roster are Finovate alums.

The OnFinance Top 100 is designed to recognize the Top 100 private companies in fintech. The list was chosen by the AlwaysOn editorial team, along with several venture capital firms and industry experts. The criteria included degree of innovation, market potential, commercialization, stakeholder value, and “media buzz.”

The list is divided into six categories, and Finovate alums are well represented in each. Category winners will be announced at Always On’s event at the NASDAQ OMX in New York City at the end of April 2015.

Banking and corporate finance

Big data and analytics

Capital markets and investing

Digital currencies

Payment platforms

Personal finance management

Headquartered in Menlo Park, California, AlwaysOn was founded in 2003 by Tony Perkins, founder and editor of Red Herring magazine. The company serves as a networking and social media platform for technology professionals in variety of fields, and has a membership of more than 5,000.

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Finovate Alums Take Gold, Silver and Bronze at PYMNTS Innovation Awards 2015

Finovate Alums Take Gold, Silver and Bronze at PYMNTS Innovation Awards 2015
By David Penn Posted on
Categories: Bill.com, Bluefin, CashStar, Clover Network, Klarna, Loop, MasterCard, Mint Bills, Moven, On Deck Capital, PayItSimple, Payoneer, PaySimple, Ripple, TSYS, Uncategorized, Venmo, VISA

Sixteen Finovate and FinDEVr alums have been recognized by the PYMNTS Innovation Awards 2015. Three alums, MasterCard , Clover Network and OnDeck took home top honors in their categories, winning gold in “Best New Technology,” “Best POS Innovation,” and “Best Small Business Innovation,” respectively. The rest of the alum field earned silver and bronze in 13 additional categories, including LoopPay, which earned Silver for Best New Technology and a Bronze for “Most Innovative.”

InnovationProject2015_homepage

More than 600 companies competed for the awards, with more than 10,000 votes tallied. Finalists were selected by an expert panel, and the top five companies in each category were submitted to the “PYMNTS community” for voting. In addition to the Innovation Awards, the event recognized Phil Tomlinson of TSYS (also a Finovate alum) and Michael Joseph of Safaricom, inducting both into the PYMNTS Hall of Fame. Two women, Carey Kolaja, VP of Global Consumer Products for PayPal and Perse Faily, CEO of Tillster, were also recognized at the event. Apple took home the Innovation Award’s Catalyst Award for what MPD CEO Karen Webster called during the award ceremony, “creating a roadmap for the industry” with its ApplePay innovation.

The full list of winning alums is below. For more information about the Innovation Awards 2015, including the full list of all finalists, visit their page here.

Gold

Silver

Bronze

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Alumni News: March 9, 2015

By David Penn Posted on
Categories: Betterment, Bill.com, EverSafe, Fenergo, FutureAdvisor, iQuantifi, Motif Investing, Silanis Technology, Wealthfront

Finovate-F-Logo-thumb-100x100-4490-thumb-100x100-8209-thumb-200x200-8210-thumb-200x200-8972-thumb-200x200-8975-thumb-125x125-9061-thumb-125x125-13257-thumb-150x150-13291-thumb-150x150-13321-thumb-125x125-13415

  • Irish Independent reports on Fenergo and its plan to raise at least €10 million by fall.
  • Lifehacker reviews elder financial abuse-prevention technology, EverSafe.
  • ETF Trends takes a look at Wealthfront, Betterment, FutureAdvisor, and Motif Investing in a column on “robo-advice.”
  • Silanis Technology to bring eSignLive’s esignature technology to Xpertdoc’s CCM platform.
  • BodeTree launches Cash Tracker to give businesses a full picture of their finances.
  • Dealstruck launches new financing product, Inventory Line of Credit, to meet needs of businesses with recurring needs to purchase inventory.
  • Matchi launches global fintech challenge to find banking solutions for Barclays Africa.
  • Mapa Research: Reports from The Frontline of Fintech: Finovate Day Two.
  • Benzinga unveils fintech award finalists; 12 Finovate alums featured.
  • iQuantifi wins spot in Plug and Play Fintech Accelerator.
  • Accounting Today spotlights Sheela Zemlin, the new SVP of Sales for Bill.com.

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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Alumni News: March 6, 2015

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bill.com, BioCatch, Digital Insight, MasterCard, PayPal, Qapital, Quantitative Credit Research, SecondMarket, Social Money, Temenos, Tradier
  • Finovate-F-Logo.jpgAmerican Banker: Qapital the first nonbank in the U.S. to go live with Social Money’s CorePro API.
  • Finovate Debuts: Quantitative Credit Research Helps Lenders Understand Economic Risks.
  • PayPal buys CyActive, an Israeli cyber-security company.
  • Community & Southern Bank to deploy digital banking solutions from Digital Insight.
  • BioCatch launches its new account-fraud-detection solution.
  • Bill.com appoints Sheela Zemlin to SVP of Sales and Customer Success.
  • MasterCard and Microsoft partner to encourage financial inclusion in Mexico.
  • Temenos acquires Multifonds, an international fund administration software provider.
  • SecondMarket among bidders in U.S. government’s third Silk Road bitcoin auction.
  • Listen to Tradier CEO Dan Raju on Money Talk with Jesse Torres.
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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Bill.com Raises $50 Million, Doubling Total Funding

By David Penn Posted on
Categories: Bill.com

Thumbnail image for Thumbnail image for bill.comlogo.jpg

In a round led by Silicon Valley Bank and featuring participation from current investors, Bill.com has added $50 million in new capital.

The investment takes the company’s total funding to more than $120 million.

Thumbnail image for Billcom_home0215.jpg

Because most businesses still rely on manual processes for accounts payable and accounts receivable, Bill.com CEO and founder René Lacerte believes there is a “significant market opportunity” for Bill.com and its banking partners. Jacob Moseley, senior market manager for Silicon Valley Bank, praised Bill.com’s growth and put the company “at the center of the digital payments space.”

“Bill.com tackles a problem that plagues small business,” Moseley says, “and distills it down to a simple solution for paying bills and getting paid.”

Existing investors also participating in the round were:

  • American Express Ventures
  • August Capital
  • Commerce Ventures
  • DCM Ventures
  • Napier Park Global Capital
  • Scale Venture Partners

Lacerte said the funding will help the company grow its core technology and offer its services across the United States.

RLacerte_Billcom_FS12_stage.jpg
Presenter: Bill.com CEO and founder, René Lacerte, at FinovateSpring 2012

Forbes.com contributor, Ben Kepes writes “that’s a lot of cash for something as unsexy as bills.” But the investment strongly suggests that sexy is as sexy does. According to the company, Bill.com is used by three of the top-10 U.S. banks and 35 of the top-100 accounting firms, and is seated “at the intersection point between banks, the accounting software providers, and businesses.” More than 600,000 network members use the technology to process more than $19 billion in payments a year.

CNBC’s coverage of the funding includes a breakdown of Bill.com’s previous funding rounds, as well as a peek into the company’s growth plans (190 employees by the end of 2015, up from the current 140), and potential IPO (“two to three years” away). The CNBC column quotes Mozilla CFO Jim Cook, whose company spends “thousands of dollars a month” on the technology, citing both cost-savings and a superior audit trail as reasons why he finds the technology “easier and more robust.”

Founded in 2006 and headquartered in Palo Alto, California, Bill.com demoed its technology as part of FinovateSpring 2012.

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Alumni News– January 23, 2015

By David Penn Posted on
Categories: Akimbo Financial, BankBazaar, Betterment, Bill.com, BlueVine, Encap, EZBOB, FutureAdvisor, Google Cloud Platform, Jemstep, Kreditech, LearnVest, MaxMyInterest, Mifos Initiative, Motif Investing, On Deck Capital, Personal Capital, SigFig, Toshl, TradeKing, Wealthfront
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgInternet Retailer looks at the relationship between product reviews and revenue courtesy of a new report from Baazarvoice.
  • Xero highlighted as “our best purchase of 2014” by Business Betties.
  • MakeMoneyYourWay profiles EZBOB and its new business loan promotion, the New Year’s Revolution.
  • Zee News’ Money Guru interviews Abhishek Dwivedi, vice president operations at BankBazaar.com.
  • Liverpool Echo features Toshl Finance in its list of must-have apps for busy moms.
  • Investopedia’s guide to choosing roboadvisors spotlights nine Finovate alums: Betterment, FutureAdvisor, Jemstep, LearnVest, Motif Investing, Personal Capital, SigFig, TradeKing, and Wealthfront.
  • Benzinga Fintech Awards publishes its video interview with Gary Zimmerman, CEO of MaxMyInterest.
  • American Banker covers OnDeck’s small business loan marketplace for institutional investors.
  • Pymnts interviews René Lacerte, CEO and Founder of Bill.com about how to simplify B2B payments.
  • Mifos welcomes new partners: SkooliLabs and iSystems
  • Google Cloud Platform releases beta of Google Container Registry for secure hosting, sharing, and management of private container repositories.
  • BlueVine Grabs $18.5 Million to Increase Small-Business Lending.
  • Encap Security CEO Thomas Bostrom Jorgensen asks if biometrics provide a “false sense of security” in a column for Bob’s Guide.
  • Akimbo Financial acquired by Payment Data Systems.
  • Kreditech Secures $200 Million Line of Credit.
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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Alumni News– August 27, 2014

By David Penn Posted on
Categories: BehavioSec, Bill.com, Bolstr, CashStar, EyeVerify, FutureAdvisor, IntelliResponse, Locaid, Monitise, Ripple, Wallaby Financial, Wealthfront, Xero
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMonitise announces digital commerce and resourcing alliance with IBM.
  • ThinkAdvisor takes a look at the deal between the San Francisco 49ers football team and Wealthfront.
  • The Globe and Mail profiles David Lloyd and IntelliResponse as part of its Innovators at Work contest.
  • Fortune magazine column discusses Ripple and the “Internet of value exchange.”
  • ValueWalk: FutureAdvisor can be used as a free tool to rate your own investment decisions or a low-cost asset management service.
  • Chicago Tribune’s Blue Sky Innovation visits Bolstr for video interview.
  • Bill.com CEO and co-founder Rene Lacerte writes about the “new sharing economy” for Inc.com.
  • CashStar announces spot in Inc 500|5000 for a second year in a row.
  • EyeVerify opens new offices to accommodate recent growth.
  • Locaid partners with Danal to leverage location services in fight against financial fraud.
  • Wallaby Financial named finalist in Samsung Gear App Challenge 2014.
  • ZDNet: Xero continues march into U.S., launches partner marketplace.
  • The Independent looks at how BehavioSec uses behavioral biometrics.
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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Alumni News– July 7, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bill.com, Billhighway, Expensify, Loop, Narrative Science, Open Bank Project, Tradeshift, ZenPayroll, Zighra
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAmerican Banker features Tradeshift in a column on startups innovating in the small business bill pay space.
  • Credit Union Broadcast interviews Greg Ewald, VP of Marketing for Loop.
  • Zighra partners with Toyuma to launch a Kickstarter project to launch PassZweipe, a password manager app.
  • Billhighway to provide automated donation processing for The Michigan Humane Society.
  • Open Bank Project organizing Hack/Make The Bank hackathon in Berlin. Check out more builder tools at FinDEVr this Fall.
  • Bill.com, ZenPayroll, and Expensify earn spots Sqrl blog’s list of 39 apps you didn’t know could grow your business.
  • Narrative Science’s Kris Hammond is featured in Business Insider’s Technology section.
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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Alumni News– June 18, 2014

By David Penn Posted on
Categories: Betterment, Bill.com, Check, Coinbase, FIS, Flint Mobile, Kony Solutions, Lending Club, Motif Investing, Personal Capital, ThreatMetrix, TransferWise, Wealthfront
  • Finovate-F-Logo.jpgThreatMetrix integrates with Ping Identity’s PingFederate ID bridge to provide contextual employee authentication.
  • Kony brings in $50 Million in Financing Led by SoftBank Capital.
  • Eight Finovate alums earn spots on CNBC’s Disruptor 50 list: Motif Investing, TransferWise, Personal Capital, Wealthfront, Lending Club, Coinbase, Bill.com, and Betterment.
  • Umpqua Bank announces plans to transition to a scalable core solution from FIS.
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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