BizEquity Acquired by American City Business Journals

A “significant capital investment” will make BizEquity a part of the country’s biggest publisher of news and information on local businesses. American City Business Journals (ACBJ) announced today that it has acquired a majority stake in the business valuation specialist that will help fuel the company’s growth, as well as add to ACBJ’s own suite of business information services.

ACBJ CEO Whitney Shaw highlighted both points in explaining the reasons for the company’s investment in the businesstech firm. Noting that American City Business Journal’s primary service is delivering business news to people in the communities where those businesses operate, Shaw underscored BizEquity’s contribution to ACBJ’s product line-up. “Through BizEquity, we can enhance our core offering by giving additional, valuable information and insights to businesses of all sizes and to the professionals who serve them,” Shaw said.

BizEquity founder and CEO Michael Carter anticipates leveraging ACBJ’s “coast-to-coast footprint” and presence in 43 American cities to help broaden the market for BizEquity’s technology. “Democratizing business valuation knowledge to the more than 31 million private businesses in North America has been our mission from day one,” Carter said. “No information is more critical to a business owner’s future than knowing what his or her business is worth. BizEquity unlocks that information.”

Post acquisition, Carter will serve as the head of a newly-formed information services group at American City Business Journals, according to reporting in the Philadelphia Business Journal.

BizEquity’s cloud-based technology examines 143 different data points to enable owners and managers to monitor business valuation over time and see what forces make the most impact on value. BizEquity’s valuation service is available via a network of more than 650 financial institutions and 2,500+ advisors, bankers, accountants, and other financial professionals. The company’s partners include firms like Experian, TD Bank, and Mass Mutual Financial Group.

The acquisition news comes just days after the company disclosed a new partnership with UBS. The agreement will enable UBS financial advisors operating in the U.S. to access BizEquity’s database of businesses and valuation information. “Our advisors are constantly looking for new ways to grow their business and expand their reach, particularly in middle-market businesses,” explained James Jack, director of the business owner strategic client segment at UBS Financial Services. “Access to the BizEquity platform will help us to deliver highly tailored advice to our clients.”

BizEquity demonstrated the latest features of its BizEquity One UK platform at FinovateEurope 2015. These enhancements included real-time dynamic valuations updated daily, a powerful new search feature for pre-valued businesses in the U.K., real time advice and alerts, and an updated dashboard that provides an easy-to-understand, infographic-like view of business valuation and KPIs.

Finovate Alumni News

On Finovate.com

  • ezbob Offers Smart Onboarding Solution.
  • BizEquity Acquired by American City Business Journals.

Around the web

  • Spreedly – in partnership with Webio – wins 2019 Innovation Lab Award at Payments Ed Forum.
  • Australian FinTech looks at the possibility of iSignthis becoming the next big neobank.
  • Infosecurity Magazine features Veridium Chief Revenue Officer Jason Tooley on the challenges law enforcement faces when using 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.

Business Valuation Specialist BizEquity Teams Up with UBS

UBS has formed a partnership with BizEquity, an online provider of estimated business valuations. This will allow a select group of UBS financial advisors in the US arm of its global wealth management business, to access BizEquity’s database of businesses and valuation information, reports Sharon Kimathi of Fintech Futures (Finovate’s sister publication).

Enterprise access through BizEquity will support UBS financial advisors to provide clients with informal valuation reports that will assist them with their financial planning needs.

James Jack, director of the business owner strategic client segment at UBS Financial Services said: “Our advisors are constantly looking for new ways to grow their business and expand their reach, particularly in middle-market businesses. Access to the BizEquity platform will help us to deliver highly tailored advice to our clients.”

“UBS is one of the preeminent names in the wealth management industry and we are proud to announce our partnership. The clients and prospects that it serves will benefit from our service to help them answer one of the most important questions they will ever ask: ‘What is my business worth?’” said Michael M. Carter, founder and CEO of BizEquity.

BizEquity is a leading provider of business valuations, distributing its cloud-based service through thousands of financial advisors to help better inform businesses of their lending, insurance, and wealth management needs and potential.

Founded in 2010, BizEquity demonstrated its BizEquity One UK solution at FinovateEurope 2015. The technology provides real time, dynamic valuations, “Zillow-esque” search functions on more than two million pre-valued businesses in the U.K., real time advice and alerts during the valuation process, and an dashboard that provides an infographic-like overview of business value and KPIs.

BizEquity has raised $5.1 million in funding. Brinker Capital and Frost Books are among the company’s investors.

Finovate Alumni News

On Finovate.com

  • AccountScore and Validis Bring the Benefits of Open Banking to U.K. SMEs.
  • Emailage and Featurespace Target Online Application Fraud.
  • Business Valuation Specialist BizEquity Teams Up with UBS.

Around the web

  • ID R&D launches facial liveness detection solution, IDLive Face.
  • Klarna and global fashion retailer ASOS to expand to the U.S.
  • Banking and payments solution provider Contis deploys Featurespace’s ARIC Fraud Hub.

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.

BizEquity Brings its Valuation-as-a-Service Solution to TD Bank

BizEquity just signed its first – really big – bank.

TD Bank has partnered with the online business valuation specialist to provide SMEs across the country with real-time insights into fair market, enterprise, and liquidation values based on current market conditions. Relationship managers at TD Bank will leverage BizEquity’s technology to produce detailed valuation and industry KPI reports, and then share them with business owners to help them create succession plans, formulate tax planning strategies, explore funding and M&A opportunities, and more.

“Without proper valuation knowledge, many of these business owners will not be adequately funded or have the right wealth or succession plans in place,” BizEquity founder and CEO Michael M. Carter said. “Together, we are helping to democratize this important knowledge for small and mid-size business owners from Maine to Florida.”

BizEquity, developer of Valuation-as-a-Service (VaaS) and the VaaS Business Valuation Cloud, enables companies to produce a customized valuation performance report that gives SME owners key insights into business valuation data as well as industry comparisons in 40 KPIs. BizEquity’s more than 500 financial services clients include KPMG, Mass Mutual Financial Group, and Mutual of Omaha; as well as fellow Finovate alums like Experian, Xero, and Equifax. TD Bank represents BizEquity’s first and only top-10 U.S. bank partner.

With headquarters in Wayne, Pennsylvania and offices in Tower Hamlets, London, Biz Equity was founded in 2010. The company began the year announcing an agreement with Windfall Data, in which the consumer financial data specialist will offer its wealth data on the BizEquity platform. Last month, BizEquity was honored at the FinTech Breakthrough Awards, earning the Innovation Award for Wealth Management.

BizEquity has raised $5.1 million in funding, courtesy of an investment from London-based venture capital firm, Frost Brooks. The company demonstrated its BizEquity One U.K. valuation-as-a-service technology at FinovateEurope 2015.

Based in Cherry Hill, New Jersey, TD Bank appeared with Moven at FinovateSpring 2016 for a live demonstration of the TD MySpend app. The app features a full integration of the Moven platform within TD Bank’s mobile banking ecosystem. Operating in the U.S. northeast and mid-Atlantic regions, as well as metropolitan D.C., the Carolinas, and Florida, TD Bank is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada.

Finovate Alumni News

On Finovate.com

  • BizEquity Brings its Valuation-as-a-Service Solution to TD Bank.

Around the web

  • FICO to offer free cybersecurity ratings to companies via its FICO Enterprise Security Score Portrait solution.
  • NICE Actimize covers P2P payments within its Fraud Essentials Cloud solution.
  • Global Debt Registry launches its loan registry on the IBM Blockchain Platform.
  • Harmonic Fund Services goes live with loan servicing technology, Fusion Loan IQ, from Finastra.
  • Gro Solutions names digital consulting firm Xtensifi as a certified development partner.
  • Kony accepted as a member in Jack Henry’s Symitar Vendor Integration Program.
  • NIIT Technologies ranked number one in ‘Business Understanding’ by clients in the 2018 UK IT Outsourcing Study.
  • 3rd-eyes selected for Swiss National Fintech Team.

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 Take Top Honors at FinTech Breakthrough Awards

Dedicated to recognizing “the top companies and products in the financial services and technology industry today,” FinTech Breakthrough has announced its FinTech Breakthrough Award Winners for 2018. This marks the second year the independent organization has sponsored the fintech awards event, recognizing fintech startups and veterans from a wide variety of categories including payments, lending, investing, and regtech.

“The FinTech Breakthrough Awards serve as a testament to the passion, skill and vision of individuals and teams that are truly setting the standard for innovation in the global FinTech industry,” Managing Director for FinTech Breakthrough James Johnson said in 2017 during the Awards’ inaugural year. “We are thrilled to recognize all of the FinTech Breakthrough Award winners for their well-deserved industry recognition as they drive the global FinTech market forward.”

This year featured 20 Finovate alums earning top honors from FinTech Breakthrough. The names and Finovate demo dates for each winning alum – as well as the category they won – are featured below. For a complete list of 2018 FinTech Breakthrough Award Winners, visit the company’s awards announcement page.

Leadership

Consumer Lending

  • Innovation Award for Consumer Lending – Text for Credit by Experian (FF17)

Business Lending

Wealth Management

Payments

Investments

Consumer Banking

Financial Research and Data

Fraud Prevention and Transaction Security

This marks the second time both eMoney Advisor and ThreatMetrix have been honored by the FinTech Breakthrough Awards. Among last year’s winners were a significant number of Finovate alums including: Sindeo, BizFi, DriveWealth, Quovo, Jumio, Trulioo, Qumram, and Xero.

Finovate Alumni News

On Finovate.com

  • Trends Rise to the Top at FinovateAsia.
  • TransferWise Raises $280 Million in Series D.

Around the web

  • Bar Harbor Bank & Trust converts to Jack Henry Banking’s SilverLake system.
  • Dime Community Bank ($6.44 billion in assets) to deploy real-time core banking platform and digital banking solutions from Fiserv.
  • iSignthis wraps up $6.5 million private placement.
  • BizEquity bolsters executive team, adding two new VPs in product management and engineering, Amir Tahvildaran and Eric May.
  • Dwolla’s Access API helps mobile debt repayment and savings app Qoins grow margins by 10%.

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.

BizEquity Brings Business Valuation Data to Wall Street Journal Pro

Cloud-based, “valuation-as-a-service” specialist BizEquity is teaming up with Wall Street Journal Pro (WSJ Pro) to provide private equity investors, M&A advisors, and entrepreneurs with a new tool, the WSJ Pro Business Valuator. The solution will be available to WSJ Pro and Wall Street Journal members as an additional offering, and combines WSJ Pro’s curated news and analysis with BizEquity’s vast trove valuation data.

“There is no better source of financial news and information than The Wall Street Journal and Dow Jones,” BizEquity founder and CEO Michael M. Carter said. He noted that data on business valuation is “one of the last bastions of data yet to be democratized through the Internet,” and referred to BizEquity as a “leader in this new market.” WSJ Pro General Manager Will Wilkinson added that the combined solution would be a significant value-add for subscribers to the premium membership service. The WSJ Pro Business Valuator helps both advisors and investors by providing valuation reports that can be used to help attract and acquire new clients, discover and convert leads, and track and analyze business value.

Founded in 2010 and headquartered in Philadelphia, Pennsylvania, BizEquity demonstrated its BizEquity One UK dynamic valuation solution at FinovateEurope 2015. Last month, the company teamed up with the Business Enterprise Institute to launch the Business Valuation Institute, an online certification course that gives financial advisors the opportunity to learn about the methods and tools used associated with business valuations. Also in August, BizEquity and Discovery Data partnered to build an online service for financial advisors that would provide valuation data for more than 40,000 registered firms and more than 700,000 registered reps. BizEquity has raised more than $5 million in funding. The company’s biggest investor is Frost Brooks.

Finovate Alumni News

On Finovate.com

  • BizEquity Brings Business Valuation Data to Wall Street Journal Pro.
  • Fern Software Opens Cloud Platform to Third Parties in the U.K. and Ireland.

Around the web

  • SumUp announces expansion to 15 European countries, doubling the number of markets the company serves.
  • UK Hot Views takes a look at the recent financial performance of Vipera.
  • OnDeck celebrates 10th anniversary, having provided more than $7 billion in capital to more than 70,000 customers.
  • Ellie Mae acquires Velocify in $128 million deal.

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.