The third quarter of 2013 revealed that even during the sleepy days of summer, the business of putting capital into the coffers of fintech innovators remained as busy as ever.
Finovate alumni were the beneficiaries of more than $171 million during July, August, and September. This brings the total year-to-date funding for Finovate alumni to at least $526 million (some of the funding amounts were undisclosed).
Here is the Q3 summary for 2013:
July — More than $63 million raised by eight companies
August — More than $26 million raised by six companies
September — $82 million raised by nine companies
Check announced this morning that it had completed a Series C investment round that will boost the company’s capital by $24 million.
This funding round was led by new investor Menlo Ventures, and included participation from current investors Morgenthaler Ventures and Pitango Venture Capital.
Check will put the capital to good use helping expand the business and grow the company’s role in making it easier for consumers to track, manage, and pay their bills. Said Check CEO, Guy Goldstein, “Americans make $4 trillion worth of bill payments per year, and Check is transforming the bill payment industry with a simple, fast, and easy-to-use mobile app.”
In addition to the funding, Check will also gain a pair of new board members. Doug Carlisle of Menlo Ventures will be joining the company’s board of directors, as will founder and former CEO of CompuCom, Avery More. This latest round puts Check’s total venture capital financing to date at $49 million.
Formerly Pageonce, Check is a leading innovator in the field of mobile payments. With nearly 10 million consumers using its mobile solution to pay bills and track finances, Check’s Bills & Money app is available as a free download from both the iTunes App Store and Google Play.
Our recent reporting on Check includes news of their partnership
with Desert Water Agency in Palm Springs, California, as well as the company’s decision to add expedited payments
to the service in June.
Check demoed their technology as part of FinovateSpring in 2010. See the company in action here
Just in time for those soaring water bills of summer, Check has made it easier for the 70,000 customers of Desert Water Agency (DWA) in Palm Springs, California to get those water bills paid.
In a partnership announced today, Check (formerly Pageonce) will be available as a mobile bill pay service for the customers who rely on DWA for their water service.
Customers using Check will be able to pay their water bills in a variety of ways, including free payment via ACH. Credit card payments are also available through Check with a 4% processing fee. The company is providing an incentive to get customers onboard, offering $5 off a customer’s first water bill when they use Check.
Interested customers can download the Check mobile app – available on Android and iOS – at Google Play
or the Apple App Store
, as well as at the Desert Water Agency. The Check app is free.
Check, as Pageonce, appeared on the Finovate stage in 2010 as part of FinovateSpring. See the company in action here
Check, the mobile PFM provider formerly known as Pageonce, announced today that it will now offer expedited payments to its eight million customers.
Same day payments will start at $14.99, a nice savings compared to typical $20+ late fees.
“Industry-wide, expedited bill pay has saved customers more than $4 billion in potential fees in 2010,” said Check marketing VP, Daniel Kjellen, citing a 2011 Javelin Strategy & Research report. This amount is expected to climb to more than six billion by 2015.
Expedited bill pay also helps differentiate Check from its competitors. Said Kjellen “we want to be known as a payments company rather than just a personal finance company.”
Expedited bill pay is available as a feature of the Money & Bills App, available for download at both the iTunes AppStore and at Google Play.
Check was most recently in the headlines following news that the company had reached a deal
with Alltel Wireless to allow the carrier’s customers to pay their bills via smartphone.
The company announced its rebranding
a little over a month ago.
Check demoed its technology as part of the FinovateSpring show in 2010. See the company’s presentation here