Finovate Alumni News

On Finovate.com

  • Rippleshot Raises $1.2 Million in Round Led by KGC Capital”
  • SocietyOne Offering Car Loans to Uber Drivers in Australia”

Around the web

  • Xero adds two-step authentication to its accounting platform.
  • CAN Capital teams up with iPayment to help SMEs get access to working capital.
  • Let’s Talk Payments features Klarna, Holvi, BehavioSec, Trustly, Meniga, and Tink in a roundup of top Nordic fintech startups. Remember FinovateEurope 2016 comes to London on February 9 and 10.
  • Check Point Names Julie Parrish as Chief Marketing Officer”
  • MyBankTracker names Mint, SmartyPig, Lending Club, Coinbase, and Loyal3 on its list of companies every millennial should know about.
  • ayondo CEO Robert Lempka Explains Innovative Trading Solutions Live on CNBC Asia”
  • TechCrunch looks at TransferWise’s growth.
  • PaymentEye interviews Daniel Abrahams, CEO and co-founder of CurrencyTransfer.com.
  • Bankless Times talks with Encap Security CEO Thomas Bostrøm Jørgensen on current trends in authentication technology.

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 Alumni News

On Finovate.com

  • itBit Raises $25 Million, Earns New York State Trust Charter Ahead of Finovate Debut Next Week in San Jose

Around the web

  • The Fiscal Times features Wealthfront, Betterment, Personal Capital, FutureAdvisor, SigFig, and Motif Investing in a column on the rise of the robo-adviser.
  • FierceFinanceIT highlights Lending Club and Prosper in its look at growing investment in P2P lenders by Wall Street.
  • Version 3.5 of Wallaby Financial’s new Android app provides ambient alerts to help consumers save on gasoline.
  • MiiCard CEO James Varga quoted in a column on Edinburgh’s tech pioneers.
  • CAN Capital reaches milestone of $5 billion in working capital facilitated through its platform.
  • Report on fintech in The Economist references Lending Club among key disruptors.
  • Nokia partners with Checkpoint for telco cloud security.
  • MyECheck completes acquisition and integration of Seergate.
  • Yodlee adds LearnVest acquirer, Northwestern Mutual, as client.
  • Javelin Strategy & Research lists 4 trends to watch at Finovate next week. Come see them unfold live at FinovateSpring 12/13 May.

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.

AlwaysOn’s OnFinance Top 100 Features 30 Finovate Alums

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.

CAN Capital Locks in $650 Million Credit Facility

CANHomepage2015

Alternative small business loan provider CAN Capital announced this week that it secured a $650 million credit facility from twelve banks. Seven are first-time participants:

  • Wells Fargo Capital Finance
  • Morgan Stanley
  • Barclays
  • UBS
  • J.P. Morgan
  • SunTrust Bank
  • First Tennessee Bank

Five existing banks recommitted funds:

  • Fifth Third Bank*
  • Regions Bank*
  • AloStar Bank of Commerce*
  • CapitalSource (a division of Pacific Western Bank)
  • Amalgamated Bank

*increased commitments

CAN Capital provides loans and merchant cash-advances to small- and medium-sized businesses. Since launching in 1998, the company has extended a total of 150,000 finance transactions to small businesses, providing access to $5 billion.

CANBusinessLoanCalculator

The New York-based company is best known for its Daily Remittance Platform. The underwriting technology evaluates business risk based on recent performance, which generally enables it to approve financing for more businesses.

CAN Capital debuted its Mobile Funder on the FinovateFall 2013 stage in New York.

Finovate Alumni News

On Finovate

  • Dream Payments Raises $6 Million in Funding for mPOS Technology
  • Finovate Debuts: Asseco SEE Brings Real-Time Big Data to Processing to Multichannel Banking
  • EZBOB Raises 3 Million in Private Equity Investment
  • Finovate Debuts: Telenor Banka’s Synergy of Telco and Banking Brings Financial Innovation to Serbia
  • CAN Capital Locks in $650 Million Credit Facility

Around the web

  • Striata acquires Mass Transmit for undisclosed amount.
  • PayPal closes acquisition of Paydiant.
  • Blooom participates in InvestMidwest Venture Capital Forum.
  • ayondo wins “Best Social Trading Program” honors at ADVFN International Financial Awards 2015.
  • Francepertise reviews TransferWise.
  • BioCatch and RippleShot earn 2015 METAwards from the Merchant Risk Council.
  • Tradier sees 35 million+ API calls in March. That’s 47k transactions per hour.

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.

 

Alumni News– February 25, 2015

  • Finovate-F-Logo.jpgFinovate Debuts: How Trunomi Shares Customers’ Personal Info while Maintaining Their Privacy.
  • LendingRobot adds Automated Secondary Market Trading.
  • Digital River wins the 2015 Merchant Payment Ecosystem Award.
  • PYMNTS looks at Credit Karma’s funding history and future plans.
  • Lincoln Savings Bank to Deploy CorePro from Social Money.
  • Verde International and Lending Club featured in PYMNTS column on banks and non-traditional loan decision-making.
  • Xero Raises $110 Million from Accel Partners, Matrix Capital.
  • CAN Capital and Worldpay partner to improve access to capital for SMEs.
  • Crain’s Chicago Business looks at Rippleshot and its plans for winning bigger clients.
  • ValidSoft launches its Device Trust solution with a second major UK bank.
  • Yelp Senior Vice President of Revenue Jed Nachman joins PaySimple Board of Directors.
  • Bluefin Payments partners with Infinite Peripherals, an mPOS device provider.
  • ProfitStars launches its Commercial Lending Center, a small business lending portal.
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.

Alumni News– January 9, 2015

  • 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.jpgKiplinger’s list of five great free financial apps features BillGuard, Mint Bills, Level Money, SavedPlus, and Wallaby Financial.
  • Center for Financial Inclusion highlights Dwolla, Klarna, Kreditech, Receivables Exchange, and Wealthfront in its review of Australia Wealth Investor’s top 50 fintech innovators for 2014.
  • First Electric Cooperative deploying TextPower SmartAlerts.
  • WePay makes Bobs Guide’s “Fintech Startups to Watch in 2015” list.
  • Misys awarded SWIFT Certified Application labels for trade and supply chain management.
  • CrowdCurity launches newly designed website.
  • Time magazine lists Nymi as 1 of 5 most important things happening at CES 2015.
  • Forbes: Xero Wants All Small Businesses To Do Accounting In The Cloud.
  • Tradier releases Morningstar-sourced fundamentals APIs to beta.
  • Cachet Financial launches Co-Branded Option for Select Mobile Money Solution.
  • PYMNTS interviews CAN Capital CMO James Mendelsohn about access to alternative funding.
  • Taulia launches “Take Control” campaign to help companies better understand early payment solution.
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.

Alumni News– November 21, 2014

  • Finovate-F-Logo.jpgUmbrella.co.uk migrates client base of 1,000+ freelancers and contractors to the FreeAgent platform.
  • Uber helping drivers manage and pay back their student loans by partnering with Tuition.io.
  • Actiance recognized in Gartner 2014 Magic Quadrant for Enterprise Information Archiving.
  • Bloomberg: CAN Capital to weigh IPO with up to $2 billion value.
  • Intuit’s Quickbooks and Xero coming to Square App Marketplace.
  • PayStand sets flat fees for e-check payment option.
  • Virtual Piggy, provider of Oink, launches the Oink Discover prepaid card for teens.
  • Fiserv links its Popmoney P2P payment solution to charitable giving.
  • Yodlee wins top honors at Citi Mobile Challenge Latam 2014.
  • Bazaarvoice announces plans to relocated to new corporate HQ in North Austin.
  • Kashoo announces enhancements to its web app, including more P&L options and increased security.
  • VoiceTrust launches strategic partnership with German biometric cloud security company, BioID AG.
  • The Washington Post features Bionym’s Nymiband.
  • Accenture mentions Thinknum as an innovation that is helping to change the banking industry.
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.

Alumni News– November 13, 2014

  • Finovate-F-Logo.jpgKili acquires NFC microSD pioneer DeviceFidelity.
  • American Banker lists Currency Cloud, BioCatch, Linqto, VerifyValid, and Rippleshot as top 10 tech companies to watch.
  • Fintech in the fall: themes and company updates from CAN Capital, Encap Security, Fuze Network, Guardian Analytics, Larky, Ripple, and Xpenditure.
  • American Banker examines 2015 plans for FIS, Fiserv and Diebold.
  • Forbes looks at the success of RoboAdvisors: Betterment, Wealthfront, Personal Capital, and SigFig.
  • Forbes examines Kantox’s P2P FX trading technology.
  • TSYS partners with FICO to deliver a marketing product for card issuers called TSYS Targeted Messaging.
  • Digital Insight enters reseller agreement with Guardian Analytics to deliver anomaly detection services to financial institutions.
  • Trulioo wins 2014 Canadian Technology Companies to watch award from Deloitte.
  • Huffington Post interviews Andrea Gellert, SVP Marketing at OnDeck.
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.

Fintech in the Fall: Themes and Company Updates

Fall is in full swing and there has been plenty of news to keep the fintech world busy.

I spent last week at Money20/20 where the themes centered around Apple Pay, Bitcoin, and Millennials. In between listening to industry experts on these and other topics, I sat down to chat with seven Finovate alums. Here are a few notable updates:

CANCapitalLogo.jpg

CAN Capital (fka Capital Access Network) has supplied just over $4 billion in funding to more than 55,000 small businesses. It continues to expand, reporting double-digit growth from last year.

CAN’s financing works well for small businesses who cannot obtain funding through traditional bank loans. Its 60%+ approval rate is made possible by the robust tech and big data analytic capabilities that enhance market insight. This ultimately broadens CAN’s access to prospective clients and enables it to provide customers with a lower priced loan.

CANHomepage.jpg

In June, it launched the beta version of CAN Connect, a set of 4 APIs. One of these APIs is called CAN Instant Quote (IQ). It pulls data from software that a small business uses frequently, such as scheduling or accounting software, to pre-approve them for instant financing.

In November, CAN announced a partnership with Yodlee to extend funding through its small business offering. This will enable Yodlee’s financial institution clients to offer customers access to funding via CAN’s Instant Quote API. The service will be available by Q1 of 2015.

While fixed term loans are still CAN’s core product, it is currently looking into offering flexible payment terms in 2015.

See CAN Capital’s demo from FinovateFall 2013 where it debuted Mobile Funder.

encaplogo.jpg

Encap Security offers Smarter Authentication, a seamless way for banks to authenticate users across multiple channels, without disrupting the user experience.

Several weeks ago, Encap partnered with Feedzai to leverage its analytic engine that authenticates users. When the customer’s identity is in question, they are sent challenges to authenticate themselves, rather than being shut out of the system entirely.

Other partnerships are in the works, but all are confidential at this point.

Additionally, Encap has recently integrated Apple’s Touch ID to replace users’ PINs. While Encap’s Smarter Authentication will still be the underlying technology, Touch ID will help authenticate the user at each point of interaction.

EncapTouchID.jpg

The company plans to incorporate other biometrics in the future.

Watch Encap demo Smarter Authentication at FinovateSpring 2014.

Fuze_Network.jpg

As we tweeted last week, Fuze was recently acquired by Ingo Money, a company that specializes in mobile check cashing services for underbanked consumers. Ingo enables customers to instantly deposit checks onto a prepaid card, bank account, or mobile wallet.

The acquisition will combine Ingo’s mobile check cashing with Fuze’s swipe-to-pay and swipe-to-load features to give users more control over their money. Ingo will also leverage Fuze’s existing network of more than one billion cards, which includes:

    • 50 million prepaid cards
    • 459 million debit cards
    • 576 million credit cards
    • 531 million private label cards
    • 137 million other types

Ingo is also working on solutions to help users avoid late fees by enabling them to send funds to a location of their choice, such as their landlord. Additionally, it plans to expand the number of retail locations where customers load cash and move money from card to card.

FuzeHomepage.jpg

The terms of the acquisition, which is set to be finalized by the end of this year, were undisclosed.

Fuze Network last demonstrated at FinovateFall 2011 where it debuted Swipe2Pay.

GuardianAnalyticsLogo.jpg

With a swell in data breaches this year, security has become a hot topic with the half-billion personal identities stolen in the last 8 months.

The increasing number of new solutions and capabilities banks now offer has opened up fresh opportunities for fraudsters to compromise users’ identities. To combat this, Guardian Analytics has added capabilities that gather user reputation data, such as their IP address.

Guardian Analytics is working with more than 300 financial institutions and has expanded its partnerships outside of banks. In the last year and a half, it has partnered with two non-bank institutions, Fiserv and Digital Insight.

GuardianAnalyticsHomepage.jpg

In the future, the California-based company plans to expand its analytics-based security solutions, since rules-based security is failing under the ever-expanding number of requirements needed to protect institutions.

Guardian Analytics debuted FraudXCHANGE at FinovateFall 2012.

LarkyLogonew.jpg

Larky, a company that provides card-linked discounts and offers on a mobile platform, signed six new financial institution clients across Alabama, Michigan, and New York in October.

Each new client is using a white-labeled version of Larky’s platform coupled with a package of local offers and rewards. The offers not only save users money, but also drive traffic to local business, and increase card usage.

LarkyHomepage.jpg

Check out Larky’s demo from FinovateFall 2014.

ripplelogo1.jpg

Open source payments protocol, Ripple,announced a partnership with Yantra, which specializes in electronic payment systems. Specifically, Ripple will use Yantra’s risk management capabilities.

The Ripple network increases the speed and velocity of transactions, which add to its risk. To mitigate the liability, it leverages Yantra’s technology to create context and conditionality to its money movement processes.

RippleHomepage.jpg

Yantra will augment the data collected about transactions and is adding new tools, such as custom search fields, to better analyze the data, and all within seconds.

Ripple debuted at FinovateSpring 2013.

CardwiseLogo.jpg

When we last spoke with Xpenditure at the beginning of this year, the company had $2.2 million in Angel funding and 15 employees. By the end of 2014, it will have raised $3.5 million in total funding and expects to have 25 employees.

It is also expanding its operations. It recently opened offices in São Paulo and New York City. In fact, the U.S. is its fastest growing market and accounts for 30% of its customers.

XpenditureHomepage2.jpg

In late October, it launched a partnership with MasterCard and its expense management system will be available as a part of MasterCard’s Business Owner ToolBox in Canada.

Check out Xpenditure’s demo from FinovateEurope 2014.

Alumni News– November 5, 2014

  • 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.jpgBraintree announces new service that makes it easier for merchants to sign up for the platform.
  • MasterCard launches MasterPass in Czech Republic.
  • CAN Capital to offer loans via Yodlee’s Small Business solution.
  • PayPal’s Venmo to power payments for web and mobile chat app, Dasher.
  • Wall Street Sector Selector highlights Financial Guard and lists Betterment, FutureAdvisor, Jemstep, Nutmeg, SigFig, and Wealthfront in a column on using roboadvisors with retirement accounts.
  • SumUp partners with BitPay to integrate bitcoin into its mPOS solution.
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.

Alumni News– August 19, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgLivePlan launches its Black Widow update to enhance performance monitoring.
  • Bank Innovation looks at GoBank’s decision to shorten holding periods for mobile check deposits.
  • NICE Systems earns 2014 Star Performer award from Speech Technology magazine.
  • Top Image Systems partners with Allied Payment Networks to implement MobiPAY.
  • Time features ReadyForZero as 1 of 50 Best Websites for 2014.
  • Hiveage compares OnDeck, Kabbage, PayPal Working Capital, & CAN Capital Come see OnDeck at FinDEVr.
  • Quisk awarded US patent for enabling consumer activated security for a mobile payment system.
  • The Rude Baguette interviews Yseop CEO, John Rauscher.
  • New partnership brings Geezeo’s PFM solution to MEA’s native mobile banking platform. See Geezeo at FinovateFall 2014 in New York.
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.