CAN Capital Introduces New CEO Edward Siciliano

Alternative SME financing pioneer CAN Capital has a new captain: Edward Siciliano, a commercial financing veteran with more than 30 years experience, will join the company as its new Chief Executive Officer.

“CAN Capital’s experience, brand recognition, data, and partner relationships make it uniquely positioned to support the expansion of the small businesses that drive the U.S. economy,” Siciliano said. “I look forward to building a leadership team and working together to expand our offerings, invest in talent and technology, and help our customers grow.”

Siciliano comes to CAN Capital after serving as Chief Operating Officer, Interim CEO and EVP, and Chief Sales Officer for commercial financial and depository product provider Marlin Business Solutions. He previously worked at Xerox Corporation, AppliedTheory Corporation, and ALK Technologies. CAN Capital’s Executive Chairman praised Siciliano as a “proven leader” who has “served the needs of small businesses while building loyal teams that deliver innovative products and a great customer experience.”

The new CEO is the latest big headline for CAN Capital. Last fall, the company announced that it had boosted its capital capacity by up to $287 million courtesy of a transaction with Varadero Capital. Varadero played a key role in CAN Capital’s return to funding in the summer of 2017.

Siciliano’s arrival marks CAN Capital’s second C-level hire in a year; the company appointed financial services industry veteran Tom Davidson as Chief Financial Officer last spring. In December of 2017, CAN Capital added a trio of executives in technology, business development, and modeling and analytics.

CAN Capital demonstrated its Mobile Funder solution at FinovateFall 2013. Mobile Funder is a tablet-based tool that helps highly-mobile financial sales professionals sell alternative capital products to SMEs. With more than $7 billion in funds accessed and 81,000+ small businesses served, CAN Capital was founded in 1998 and is based in Kennesaw, Georgia.

Alumni News– October 20, 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.jpgNous raises $600k to help drive its SparkProfit stock market prediction platform.
  • Lending Club selects the NYSE for its IPO.
  • Currency Cloud releases Connect API 2.0.
  • InComm partners with CardCash to integrate its online gift card exchange at InComm’s retail partners nationwide.
  • Compass Plus completes its TranzAxis integration with Klarna.
  • ID Analytics names Scott Carter Chief Operating Officer.
  • CAN Capital closes its first capital markets asset-backed notes offering.
  • Coinbase now available in 6 additional languages.
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– December 10, 2013

  • Thumbnail image for Finovate-F-Logo.jpgCapital Access Network changes its name to CAN Capital.
  • Compass Plus survey reflects declining support for NFC amid growing popularity of mobile channel.
  • CFA Institute’s Inside Investing takes a look at Motif Investing and “the secret revolution in finance.”
  • Gartner places NICE in leaders quadrant of the 2013 Magic Quadrant for Contact Center Workforce Optimization.
  • Wealthfront announces new ability to harvest losses on stocks that comprise an index.
  • Flint Mobile raises $2 million from Verizon Investments.
  • Mint, Manilla, SigFig, Jemstep and Planwise featured in Kiplinger’s list of smart online tools to manage finances.
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– September 24, 2013

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  • Capital Access Network listed among Information Week’s top U.S. technology innovators in 2013.
  • FIS announces analytics programs for customers.
  • Swipely now managing $1 bil in annual sales, 1 yr. after entering payments market & launched Swipely Partner Network.
  • Cachet Financial Solutions announces Select Mobile Lending, a new mobile app.
  • MasterCard and Entrepreneurial Finance Labs join forces to promote SMB growth in developing nations.
  • TechCrunch reports PayPal, Stripe, & Braintree partner with Facebook to autofill billing info in mobile commerce apps.
  • ERN partners with FICO to embed FICO’s marketing solutions within its real-time Big Data analytics platform Looop.
  • Mountaineer Gas joins doxo to simplify bill delivery, payment, and record keeping for its 220,000 customers.
  • Digital Insight announces new CEO, John O’Malley.
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– September 23, 2013

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  • ACI Worldwide acquires Official Payments.
  • MasterCard teams up with Basware to help companies migrate from paper-based payments.
  • KlickEx takes home Top Startup prize at Swift’s Innotribe Challenge.
  • Crains NY Business looks at Float Money, Socure, and Capital Access Network.
  • Western Independent Bankers selects Q2 as preferred vendor for virtual banking solutions.
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.

Capital Access Network Launches “Mobile Funder” Tool

This post is part of our live coverage of FinovateFall 2013.

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Capital Access Network launched Mobile Funder:
Mobile Funder is a tablet-based tool enabling time-starved, “on the move” financial sales/ISO representatives selling alternative capital to small businesses with the ability to complete their sales process in one visit. 
Mobile Funder empowers reps to securely pre-qualify prospects, authorize credit checks, propose multiple finance options and submit applications in minutes, eliminating paper applications and the need for multiple visits. The result: This all-in-one tool gives small business finance reps the power to close more deals and deliver capital faster.”
  
Product Launch: September 2013
Metrics: CAN has helped small businesses access $3B+ in over 120,000 transactions. CAN operates with 425 employees in 4 locations. CAN secured $30M in venture funding from Accel Partners in 2012 and expanded its credit line by $165M in May 2013, bringing its total line to nearly $500M.
Product distribution strategy: Direct to Business (B2B)
HQ: New York, NY
Founded: 1998
Twitter: @CANCapital
Presenting Daniel DeMeo (CEO) and Brent Harrison (Director of Marketing, Alliance & Partnerships)
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The full demo video will be available at finovate.com in mid-September.

Capital Access Network Names Former GE Capital Executive, Shiladitya Ray, New CFO

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Capital Access Network, a platform that provides working capital to small businesses, announced the addition of a new CFO, Shiladitya (“Shila”) Ray.

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Ray is the former CFO of Global Operations for GE Capital Americas. According to his LinkedIn profile, Ray is a:

“Strategic Finance leader with global experience in leading finance and business operations. Served as CFO for multiple businesses with 15+ years of executive leadership and experience in global organizations.”

In his new position, Ray will help develop long-range growth strategies.

Capital Access Network’s former CFO, Daniel DeMeo, is now its Chief Executive Officer.

In May of this year, Capital Access Network provided U.S.-based small businesses access to $66 million. In the month of July it provided access to more than $74 million.

To learn more about Capital Access Network, come see its live demo in New York at FinovateFall next week. Or, watch its FinovateEurope 2011 demo.

FinovateFall 2013 Sneak Peek: Part 5

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We hope you’re enjoying our Sneak Peek at the presenters of FinovateFall 2013.

You can learn more about our upcoming event here. And if you’ve missed an installment of our series, here’s a handy index to this year’s innovators.

FinovateFall 2013 Sneak Peek #1

Today we’ll introduce you to our fifth set of companies that will be demoing on the Finovate stage in September: Capital Access NetworkFutureAdvisor, Instabank, miiCard, Narrative ScienceP2P Cash, and StrategyCorps.

So why not join us in New York for the show? Get your tickets to FinovateFall 2013 in New York here.


Capital Access Network’s Mobile Funder is a tablet-based tool enabling finance reps to seurely pre-qualify small businesses for capital and submit a full application in a single visit.

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Features:
  • Capital delivered in days, not weeks
  • Empowers reps with direct access to qualification tools
  • Pre-qualifies prospects for two products with one application
Why it’s great: This all-in-one tool gives small business finance reps the power to expedite decisions, close more deals, and deliver capital faster.

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Dan DeMeo, CEO, Capital Access Network
Mr. DeMeo joined in 2010 with an extensive financial services background (Citibank, GE Capital, JP Morgan) and a history of growing businesses profitably.
Meet the Capital Access Network team here.

FutureAdvisor’s FutureAdvisor Premium automatically manages your current investments.

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Features:
  • Manage investment holdings from multiple institutionsFeatures:
  • Rebalance your portfolio automatically
  • Recognize and invest new cash immediately
Why it’s great: Guide your investment portfolio – automatically
Meet the FutureAdvisor team here.

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Instabank set out to create the most beautiful, efficient, and social mobile bank.
Features:
  • Transfer/request money to/from Facebook friends
  • Add photos, comments, Foursquare venues to purchases
  • Rich activity stream and PFM
Why it’s great: Instabank aims to unlock viral customer acquisition via Facebook and become the Dropbox of retail banking.

miiCard (my Internet Identity) is the first global Identity-as-a-Service (IDaaS) platform providing trusted and traceable customer identities purely online in the digital economy.

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Features: 
  • Eliminate up to 80% fraud
  • Reduce new customer dropout by 50%
  • Dramatically reduce operational costs
Why it’s great: Enabling purely online sales of regulated and high value products in banking, virtual currencies, payments, wealth management, lending and more.

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James Varga, Founder, CEO, miiCard
Mr. Varga has more than a 20-year career in technology and innovation.

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Magnus Bray, Sales Manager, miiCard
Mr. Bray has experience in bringing new innovations to global financial institutions.
Meet Team miiCard here.

Narrative Science provides financial institutions with a fast, cost-effective way to analyze data and automatically generate natural language communications that answer important questions and provide timely insight.

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Features:
  • Infinitely scalable content generation
  • On-demand communications tailored to any audience
  • Consistent narratives structured to meet guidelines
Why it’s great: Quill Financial automatically transforms portfolio and market data into human-quality communications and reports for financial institutions.
Meet the Narrative Science leadership team here.

P2P Cash developed an industry-standard, scalable mobile financial services solution that provides secure, compliant and transparent mobile banking to the world’s 3 billion unbanked mobile phone users.

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Features:
  • Send cash home free
  • Mobile international remittance
  • Only SMS required for recipient
Why it’s great: Send cash home free #InternationalRemittance

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Thomas Meredith, Chairman and CEO, P2P Cash
Mr Meredith has Internet, financial services, and telecommunications experience. Stanford engineer. Harvard MBA.

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Donald Chapman, VP, Business Development, P2P Cash
Mr. Chapman has Consulting, IT, Sales & Marketing experience. Providence College. Babson MBA.
Meet the P2P Cash team here.

StrategyCorps’ BaZing solution makes mobile and online banking so appealing and relevant to customers’ lifestyles they’ll gladly pay a fee for them.

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Features:
  • 300,000+ deals at your fingertips
  • Local merchant offers around every branch
  • Connect like no banking product can
Why it’s great: Customers don’t like fees for basic banking products. BaZing changes that by making banking products worth paying for.

Stay tuned for more from our FinovateFall 2013 presenters in edition #6 of our Sneak Peek series, coming Thursday.
FinovateFall 2013 is only a few weeks away. To learn more about FinovateFall – and to register and get your tickets today – visit our FinovateFall 2013 page here.

Kony at #28, Five Other Finovate Alums Make Inc. 5000 for 2013

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Congratulations to six Finovate alums named to the Inc. 5000 list of America’s fastest growing companies.

The list included two Finovate alumni in the top 500: Kony Solutions (#28), and CashStar (#108). Prosper just missed the top 500, ranking #548. Also on the list were OnDeck (#660), Authentify (#2,328), and Capital Access Network (#4,535).

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Rank: #28
Description: Offers a codebase for developing mobile and multichannel applications

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3-year revenue growth: 79x (eg. 7,900%)
2012 revenue: $51.1 million
2009 revenue: $648,000
Employees: 1100
3-year employee growth: 1003
Founded: 2007
Additional honors: #2 Top 100 Software Companies, #4 Top 100 Florida Companies
Rank: #103
Description: Hosts and maintains a transaction platform for retailer-branded gift card programs
3-year revenue growth: 35x

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2012 revenue: $9.7 million
2009 revenue: $276,000
Employees: 96
3-year employee growth: 73
Founded: 2008
Additional honors: #6 Top 100 Software Companies, #3 Top 100 Maine Companies
Rank: #548
Description: Peer-to-peer lending marketplace
3-year revenue growth: 9.3x

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2012 revenue: $6.8 million
2009 revenue: $732,000
Employees: 84
3-year employee growth: 50
Founded: 2006
Additional honors: #36 Top 100 Financial Services Companies #97 Top 100 California Companies, #31 San Francisco Metro Area
Rank: #660
Description: Small business lender
3-year revenue growth: 8x

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2012 revenue: $36.7 million
2009 revenue: $4.6 million
Employees: 153
3-year employee growth: 117
Founded: 2007
Additional honors: #41 Top 100 Financial Services Companies, #40 Top 100 New York Companies, #5 New York City Metro Area
Rank: #2,328
Description: Delivers automated, multi-factor authentication services
3-year revenue growth: 2.6x

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2012 revenue: $14 million
2009 revenue: $5.5 million
Employees: 37
3-year employee growth: 13
Founded: 1999
Additional honors: #36 Top 100 Security Companies
Rank: #4,535
Description: Provides working capital and data services to small businesses
3-year revenue growth: 49%

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2012 revenue: $152 million
2009 revenue: $102 million
Employees: 425
3-year employee growth: 144
Founded: 1998

Finovate Alumni News– August 14, 2013

  • Finovate-F-Logo.jpgYseop selected as a finalist for the category of “Social, CRM and Loyalty” for the DMA Innovation Awards.
  • Finextra reports: Virtual Piggy integrates with social game giant Habbo Hotel.
  • TechCrunch reports: Braintree launches a new service called Marketplace, an API designed for mobile marketplace operators.
  • The Sleeter Group reviews Kashoo, Xero, and others.
  • The Guardian Money features social lending service Zopa.
  • Transaction processing driving revenue growth for Jack Henry & Associates.
  • Pymnts.com interviews Daniel DeMeo, CEO at Capital Access Network, on the rise of commercial lending.
  • Snarketing 2.0 highlights Credit Karma, FlexScore, and Moven in a column on why the financial services industry needs a “FinScore”.
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.

Meet the Innovators of FinovateFall 2013

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FinovateFall 2013 is right around the corner. That means it’s time to start getting to know the entrepreneurs and innovators that will be presenting their technologies on stage in New York City in September.

Remember, the early bird deadline is this Friday, August 2nd. So to reserve your spot and register now.

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Akimbo Financial offers a social bank account alternative that makes sharing money easier than ever.
authenticIDs identity tools pictureID and catfishID, are the most accurate, time-saving solutions for the forms of ID we already carry.
Backbase‘s Launchpad, the Commercial Banking Edition, making CFO’s work easier.
BehavioSec uses behavioral analytics to transparently tackle web and mobile security.
BillFloat revolutionizes credit delivery to consumers and businesses.
Biometric Signature ID has a patented software-only biometric for secure ID online verification.
BizEquity is the first and leading cloud-based business valuation engine, an innovative solution to small business lead generation.
Capital Access Network is the largest and most experienced small business finance specialist.
Cardlytics uses consumer purchase data to drive a patented advertising platform. Ads are so relevant–they’re expected. 
CoverHound is a comparison insurance adviser, helping people discover, buy, and manage insurance online.
CR2 is the innovative provider of self-service banking solutions including ATM, Internet, and mobile banking.
DoubleBeam‘s SDK powers mPayments inside other mobile apps, helping signup customers quickly and save a ton on the cost of payments.
FinanceIt offers businesses the ability to provide consumer financing to their customers at the POS.
Financial Guard helps you protect your investments, providing online investment advice at the right price, finally.
Finect is the leading online network for the financial services industry.
Fiserv is a leading global technology provider serving the financial services industry, driving innovation in payments.
FlexScore “gamifies” financial planning, gives a “score” of your financial fitness, and provides education, advice, peer comparisons.
Float Money offers interest-free credit to members of its shopping club and financial health partners.
FutureAdvisor manages your investments for better returns, making quality financial advice available to everyone.
GMC Software Technology is a leading software developer of solutions that transform the customer experience.
Guide Financial is like a healthcheck for your finances – automatically scanning your accounts for ways you can earn or save more, and providing simple, easy fixes.
Ignite Sales is the leader in retail banking, customer acquisition, and retention technology.
Innovation Agency, where you can execute on your innovation mandate and unlock the wealth of ideas in your ecosystems.
Instabank – Beautiful money.
Interactions provides natural language Virtual Assistant application services for the automation customer care processes.
Jumio is a next generation credentials management company offering payments and ID scanning and validation products for mobile and web transactions.
Kofax is a leading provider of smart process applications that simplify the business critical First Mile of information-intensive customer interactions.
LearnVest empowers people everywhere to take control of their money and live their richest lives.
Level Money is a financial GPS, designed to replace budgeting.
Lighter Capital provides growth capital to technology companies in a highly-automated basis – Capital-as-a-Service.
Lumesis provides software for the fixed income municipal market. Compliance and credit-focused. 
Luminous is a boutique innovation company that has become synonymous with innovative banking around the world.
Manilla is the leading free and secure service to simplify and organize daily financial life.
MasterCard is a technology company in the global payments industry, operating the world’s fastest payments processing network.
mBank is the biggest, pure-play online bank and the third largest retail bank in Poland.
miiCard is the first digital identity verification service to prove ‘you are who you say you are’ entirely online.
Mitek is positioned as the leading innovator in mobile imaging software. 
MoneyDesktop empowers financial institutions to provide online/mobile banking experiences to promote personal financial intelligence.
Motif Investing is a thematic, customizable, low-cost and crowdsourceable ETF-like product that is disrupting investing economics.

Narrative Science
 
enables companies to uncover the insight hidden in their data and create new content at a scale and frequency never before possible.
Numbrs – One App – Every Bank.
P2P Cash is the mobile wallet with switch technology that allows us to aggregate all other mWallets and mobile financial services.
PayWith is powered by MasterCard. Funded by Merchants. Loved by Consumers.
PhonyInvoices provides invoice fraud detection and prevention. We check a company’s vendor lists and transactions for suspicious activity.
Place2Give provides valuable and trustworthy information to make the most impactful social capital investment decisions.
QuarterSpot lending platform delivers the lowest cost and most favorable term small business loans.
RevolutionCredit is a revolutionary solution that transforms the credit decisioning process for both creditors and consumers.
SaaS Markets is the enterprise app store company for financial organizations looking to leverage cloud-based applications for their employees or customers.
SavedPlus is an automatic savings program that helps customers save money with every purchase.
Simple Verity provides business credit reports on any SMB in America.
Socure offers a social identity verification solution to combat the growing risk of online identity fraud for financial institutions.
SpearFysh leverages mobile, speech analytics, big data, and SaaS technology to improve sales processes and drive growth.
Spreedly provides vault cards in the cloud and work with more than 50 payment gateways.
StockSmart apps and platform offer insight and information on the world’s best companies and people.
StrategyCorps delivers local/mobile/social consumer checking solutions so appealing and relevant, your customers will gladly pay for them.
Tinkoff Credit Systems is Russia’s leading provider of online financial services.
TipRanks is a cloud-based service that measures the performance of anyone giving investment advice.
Toopher eliminates online fraud using your phone’s location. Simple, secure, your phone stays in your pocket.
Unleash is the cloud CFO that helps small businesses make better decisions faster.
VerifyValid and Deluxe are giving checks their first major upgrade in more than 200 years.
Versafe protects all users from all malware, threat types. On all devices, all transparently. 
WordSentry software analyzes messages during composition, identifying non-compliant components, for correction before sending.
Yodlee is the platform for financial innovation, powering the world’s largest collection of transactional data.
Yseop creates a new age where financial services delivered to customers are driven by AI and human collaboration.
Zenmonics is a global technology services and mobile product provider to the financial services market.
Zighra empowers banks and financial institutions to leverage implicit mobile user authentication and accelerate payments.
Zooz provides complete payment essentials at your fingertips: a robust set of tools that will improve the payment process.
Plus more stealth companies to be announced in the weeks to come.
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To find out more about the upcoming FinovateFall 2013 event in New York, September 10 and 11, visit our FinovateFall information page here.

Finovate Alumni News– June 28, 2013

  • Finovate-F-Logo.jpgCapital Access Network achieves new record of $66 million in monthly volume.
  • CoverHound names Keith Moore Chief Marketing Officer.
  • ProjectionHub and Lendio partner to help small businesses find the right loan.
  • Green Bay Press Gazette features GoBank on the heels of the company’s public launch this week.
  • Kashoo publishes interview with company “Jack of All Trades” Amrik Randhawa.
  • OneID provided to students of Sydney, Australia’s MacQuarie University.
  • Techcrunch takes a look at LendUp’s plan to provide instant online, mobile loans.
  • SeedInvest raises $1 million in round led by the Jumpstart New Jersey Angel Network.
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.