Credit Karma

Finovate Alumni News– August 14, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Braintree, Capital Access Network, Credit Karma, FlexScore, Jack Henry, Kashoo, Moven, Virtual Piggy, Xero, Yseop, Zopa
  • 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.

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Finovate Alumni News– July 30, 2013

By David Penn Posted on
Categories: Akamai, Betterment, BillGuard, Cardlytics, Cartera Commerce, Credit Karma, Dynamics, edo Interactive, eToro, FIS, FutureAdvisor, Kasasa, LearnVest, Manilla, MasterCard, OpenCoin, Swipely
  • FinovateLOGO.jpgOpenCoin is among the virtual currency innovators looking to form a self-regulatory body for the industry.
  • MasterPass from MasterCard launches in the United Kingdom.
  • Bank Innovation takes a look at FIS Global’s recent remarks on the company’s technology deal with Sainsbury.
  • Yahoo Finance looks at rewards earned using Dynamics ePlate credit card.
  • StreetFight features reasons to opt in for card-linked loyalty programs from Cartera Commerce, Cardlytics, edo Interactive and Swipely.
  • Netbanker features BillGuard, Manilla, and Credit Karma as value-added apps driving mobile adoption.
  • eToro adds price alerts to eToro Trader app.
  • Bright Ideas features Noreen Hafez, senior product marketing manager at Akamai.
  • Kasasa holds sweepstakes, films big-bank breakup video, featuring CEO Gabe Krajicek.
  • Betterment joins fellow Finovate alumni FutureAdvisor and LearnVest in this NYT column on bringing “financial planning to the masses.”
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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Fourteen Alums Recognized in AlwaysOn Global 250 Awards

By Julie Muhn (@julieschicktanz) Posted on
Categories: BillFloat, Cartera Commerce, Credit Karma, FlexScore, Kabbage, Lending Club, On Deck Capital, Ping Identity, Placecast, SecondMarket, Taulia, ThreatMetrix, Wonga, Yodlee

AOGlobal2503.jpg

This year, 12 Finovate alums were selected among 250 other winners in the AlwaysOn Global 250 awards, and two Finovate alums were identified among 50 other Companies to Watch.

The awards honor the top 250 U.S.-based private tech companies, plus recognize 50 to watch. Some of the underlying themes in this group of 300 innovative companies include mobile technology, cloud-based solutions, and social network integration.

Here are the 12 Finovate alum winners of the 250 Awards, listed in alphabetical order:

BillFloat

    • Category: Consumer Internet
    • Headquarters: San Francisco, CA
    • Founded: 2009
    • CEO: Ryan Gilbert
    • Total funding: $32.5 million
    • FinovateSpring 2011 demo video
    • Category: B2B Applications- SaaS and Enterprise
    • Headquarters: Lexington, MA
    • Founded: 2005
    • CEO: Tom Beecher
    • Total funding: $21.2 million
    • FinovateFall 2011 demo video
    • Category: Consumer Internet
    • Headquarters: Atlanta, GA
    • Founded: 2009
    • CEO: Rob Frohwein
    • Total funding: $53.7 million (plus $91.7 million in debt funding)
    • FinovateSpring 2013 demo video
    • Category: Consumer Internet
    • Headquarters: San Francisco, CA
    • Founded: 2006
    • CEO: Renaud Laplanche
    • Total funding: $220 million
    • FinovateStartup 2009 demo video
    • Category: B2B Applications- SaaS and Enterprise
    • Headquarters: New York, NY
    • Founded: 2007
    • CEO: Noah Breslow
    • Total funding: $102 million
    • FinovateSpring 2012 demo video
    • Category: B2B Applications- SaaS and Enterprise
    • Headquarters: Denver, CO
    • Founded: 2002
    • CEO: Andre Durand
    • Total funding: $78 million
    • FinovateEurope 2012 demo video
Placecast 

    • Category: B2B Applications – Mobile
    • Headquarters: San Francisco, CA
    • Founded: 2005
    • CEO: Alistair Goodman
    • Total funding: $8 million
    • FinovateSpring demo video
    • Category: B2B Applications- SaaS and Enterprise
    • Headquarters: San Jose, CA
    • Founded: 2005
    • CEO: Reed Taussig
    • Total funding: $36.2 million
    • FinovateStartup 2009 demo video
    • Category: Consumer Internet
    • Headquarters: London, UK
    • Founded: 2007
    • CEO: Errol Damelin
    • Total funding: $145 million
    • FinovateFall 2010 demo video
    • Category: Consumer Internet
    • Headquarters: Redwood City, CA
    • Founded: 1999
    • CEO: Anil Arora
    • Total funding: $116 million
    • FinovateFall 2010 demo video
Here are the two listed in the Companies to Watch category:

All companies were selected by industry experts in the following organizations:

  • The AlwaysOn editorial team
  • Morgan Stanley
  • KPMG
  • GSV Capital
  • Greylock
  • Google Ventures
  • New Enterprise Associates
  • Flybridge Capital Partners
  • Accel Ventures
  • Bridge Bank
  • Venrock
  • SV Angel
  • Roth Capital Partners
  • Intel Capital
  • Menlo Ventures
  • Khosla Ventures
  • FirstMark Capital
  • Doll Capital Management
  • Benchmark Capital
  • Cooley
  • GGV Capital

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    Second Quarter 2013 Funding for Finovate Alumni — More than $200 Million Raised

    By David Penn Posted on
    Categories: Affinity Solutions, Cardlytics, Credit Karma, Dwolla, Kony Solutions, On Deck Capital, OpenCoin, peerTransfer, Personal Capital, Receivables Exchange, SeedInvest, SumUp, Swipely, TransferWise, Zooz

    FinovateLOGO.jpg

    For the second quarter of 2013, fifteen Finovate alumni raised more than $200 million. The quarterly total exceeded both that of the previous quarter as well as the same quarter last year.*

    • Q2 2013: 15 companies raised more than $200 million
    • Q1 2013: 15 companies raised more than $155 million — blog post
    • Q2 2012: 14 companies raised more than $120 million — blog post
    Here’s the Q2 summary for 2013:

    April — $32 million raised by two companies
    May — $91.5 million raised by seven companies
    June — $81.7 million raised by six companies

    _____________________________________________________________________________

    *While the funding over last year has increased, so has the number of Finovate alums. We’re tracking more than 100 additional companies this year compared to last year.

    Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

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    Finovate Alumni News– April 18, 2013

    By David Penn Posted on
    Categories: Concur, Credit Karma, DeviceFidelity, Nomis Solutions, Pageonce, Palo Alto Software, QuantConnect, Quantopian, TipRanks
    • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSilicon Republic takes a look at TipRanks. Join TipRanks in San Francisco for FinovateSpring in May.
    • QuantConnect adds crowd sentiment data courtesy of Estimize.com.
    • DeviceFidelity’s patent portfolio grows with new NFC-based mobile wallet technology.
    • The Valley Girl Show interviews Pageonce founder and CEO Guy Goldstein.
    • Palo Alto Software launches LivePlan Scoreboard. Check out the demo at FinovateSpring.
    • Newfination features Bethy Hardeman, Credit Karma Communications Director, who explains its different services.
    • Concur App Center to offer cloud-based single sign-on from Ping Identity.
    • Quantopian integrates data sets from Canadian financial search engine startup, Quandl. See Quantopian’s technology at work at FinovateSpring in May.
    • Nomis Solutions partners with Recombo, integrates Discretion Manager with Agreement Express.
    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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    Credit Karma Brings in $30 Million in Series B Funding, Launches PFM Option

    By Julie Muhn (@julieschicktanz) Posted on
    Categories: Credit Karma

    creditkarmalogo.jpg

    Credit monitoring and reporting company, Credit Karma announced today that it raised $30 million in Series B funding.

    This new round, which is 10 times more than the San Francisco-based company’s Series A round closed in 2009, was led by Ribbit Capital. Other investors include:

      • Susquehanna Growth Equity
      • Felicis Ventures (existing investor)

    TechCrunch reports that with this new funding, Credit Karma plans to almost double its staff by the year’s end and develop new products and services, which it is doing this week with the launch of Insight.

    Insight is an expansion of Credit Karma’s services that provides consumers with a Mint-type view of their finances that they can view all in one place (see screenshot below).

    CKPFM.jpg

    Credit Karma demoed at FinovateStartup 2009.

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    Nineteen Finovate Alums Win 2013 PYMNTS.com Innovator Awards

    By Julie Muhn (@julieschicktanz) Posted on
    Categories: Bill.com, BillFloat, Braintree, Capital Access Network, Credit Karma, Intuit, IP Commerce, Kabbage, Leaf, Lending Club, Mitek, MoneyDesktop, OneID, Pangea Payments, PayNearMe, PayPal, PaySimple, Simple, Waspit

    InnovationProjectIMG.jpg

    PYMNTS.com, a website owned by Business Wire and Market Platform Dynamics, recently published the winners of the 2013 Innovator Awards.

    Three Finovate alums were selected as overall Best in Show winners:

    First place: Pangea Payments

    • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
    Second place: Waspit 
    • Description: Combining mobile payments with social media channels to empower and inform the user in everyday purchases.
    • Finovate demo: FinovateFall 2012
    Third place: Leaf
    • Description: Small business payments solution
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15

    In addition, five Finovate alums took home Gold awards, five won Silver awards, and seven were awarded in the Bronze category. Here is a summary of all of the winners:

    Gold

      • Category: Most innovative
      • Innovation: PayPal POS Initiatives that leverage its worldwide digital wallet accountholder base.
      • Finovate demo: FinovateEurope 2012
      • Category: Best credit
      • Innovation: The consumer’s advocate for demystifying credit with a range of tools and information resources to help them monitor and manage their financial health.
      • Finovate demo: FinovateStartup 2009
      • Category: Best B2B innovation
      • Innovation: Online working capital for small businesses.
      • Finovate demo: FinovateEurope 2013
      • Category: Best SMB innovation
      • Innovation: Small business payment platform integrated with Quickbooks.
      • Finovate demo: Finovate 2009
      • Category: Best innovation via ACH
      • Innovation: Cash flow management, accounts payable/ receivable management platform
      • Finovate demo: FinovateSpring 2011
    Silver
      • Category: Most invisible
      • Innovation: Platform-as-a-Service that powers POS 2.0 commerce solutions.
      • Finovate demo: FinovateSpring 2012
      • Category: Best credit
      • Innovation: Offers consumers “more time to pay” their bills on time to help avoid late fees, overdraft charges, service termination and high cost loans.
      • Finovate demo: FinovateSpring 2011
      • Category: Best cash
      • Innovation: Enables consumers to shop online and pay with cash easily for a wide range of goods.
      • Finovate demo: FinovateSpring 2011
      • Category: Best SMB innovation
      • Innovation: Cloud-based, small business platform that integrates invoicing and payment acceptance in one system.
      • Finovate demo: FinovateSpring 2012
      • Category: Best comeback
      • Innovation: Alternative business financing that helps businesses tap into the capital it needs to run the business.
      • Finovate demo: FinovateEurope 2011
    Bronze
      • Category: Most disruptive
      • Innovation: Mobile checkout service that enables one touch payments across multiple applications.
      • Finovate demo: FinovateSpring 2011
      • Category: Best technology
      • Innovation: OneID lets people sign in without usernames and passwords, yet delivers authentication solutions with non-repudiation, keeping both people and businesses safe from today’s biggest identity and personal information threats.
      • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
      • Category: Best newcomer
      • Innovation: Aggregates financial account information and allows users to manage their money in one place, online or with a mobile device.
      • Finovate demo: FinovateSpring 2012
      • Category: Best credit
      • Innovation: Brings together investors with creditworthy borrowers to reduce the cost and complexity of traditional lending.
      • Finovate demo: Finovate Startup 2009
      • Category: Best debit
      • Innovation: Reinventing personal banking with modern online and mobile experiences, no surprise fees, and great customer service.
      • Finovate demo: FinovateFall 2011
      • Category: Best prepaid
      • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
      • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
      • Category: Best check
      • Innovation: Mitek’s patented mobile imaging technology allows users to remotely deposit checks from anywhere, at anytime by snapping a picture with their camera-equipped smartphone or tablet, and has become the “gold standard” for mobile check deposit.
      • Finovate demo: FinovateSpr
        ing 2012

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    Finovate Alumni News– March 28, 2013

    By Julie Muhn (@julieschicktanz) Posted on
    Categories: Better ATM Services, Capital Access Network, Credit Karma, CSI globalVCard, Dwolla, EyeVerify, Green Dot, Monitise, OneID, Outright.com, SeedInvest, TIBCO Software, Tuition.io, Waspit
    • Forbes places Dwolla CEO, Ben Milne, on the 2013 Disruptors list.
    • Lifehacker reviews Credit Karma for Android.
    • TIBCO Software partners with Aditi Tech to bolster enterprise social, e-commerce solutions.
    • Outright’s 300,000 users surpass 2 billion transactions.
    • Bank Innovation reports: Capital Access Network’s Online Lending Platform, CapTap, Coming to Tablet Soon.
    • Waspit wins second place award in PYMNTS.com Innovation Project’s Best in Show.
    • Monitise CMO Carl Tsukahara interviewed by David Murphy in Mobile Marketing.
    • SeedInvest is among the crowdfunding innovators featured in crowdfundattny blog.
    • Pymnts.com interviews Mark Miles of CSI globalVCard on the business of B2B payments.
    • E&S Consulting blog takes a look at the evolution of Green Dot’s GoBank. Be sure to catch Green Dot at FinovateSpring in May.
    • Better ATM Services wins 2013 Paybefore Award for Visa prepaid gift card program.
    • PC Mag’s SecurityWatch features EyeVerify and its solution to the problem with passwords.  EyeVerify will be demoing their authentication technology at the upcoming FinovateSpring event in San Francisco.
    • Programmable Web takes a look at recently published APIs including one from OneID. Join OneID this May in San Francisco for FinovateSpring.
    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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    Yodlee Accelerator Program Bears Fruit with 300 Startups Served

    By David Penn Posted on
    Categories: Credit Karma, EZBOB, FreeAgent, LearnVest, planwise, Xero, Yodlee

    Thumbnail image for YodleeLogo2012.jpg

    With 300 fintech innovators already taking advantage of Yodlee’s 10-month old accelerator program, the company’s sights are set on still more companies coming on board. In fact, Yodlee anticipates growth of more than 50% by the end of the year.

    One of the key features of the program is free access to Yodlee’s API, which brings with it the ability to draw from a wealth of financial data, from bank accounts to rewards campaigns. Program companies have taken this data and run with it, building everything from eWallets to new lending services.

    Aside from its role in “paying it forward” (fintech edition), Yodlee has been a very successful outfit in its own right. The company has more than 40 million users and $100 million in capital, with 20% of its customers coming from outside the United States.

    It’s worth pointing out that Yodlee’s accelerated startups include a handful of Finovate alumni such as EZBOB and FreeAgent (both companies fresh from appearances at FinovateEurope). Other alumni taking advantage of Yodlee’s platform include Credit Karma, Xero, and LearnVest.

    Success with the accelerator program, which was launched in May 2012, may be what has encouraged the company to launch its API incubator program to cater to a different subset of startups. So far, Yodlee has been able to incubate 10 companies, including Finovate alumn, Planwise.

    Yodless was last on the Finovate stage in September 2012 as part of FinovateFall in New York. Watch a demo of Yodlee in action here, as they present their small business platform.

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    Finovate Alumni News– March 11, 2013

    By Julie Muhn (@julieschicktanz) Posted on
    Categories: Backbase, BellaDati, Bolstr, CashStar, cbanc Network, Continuity Control, Credit Karma, DeviceFidelity, Diversinet, Expensify, Fiserv, Geezeo, Lending Club, Locaid, Mint.com, Moven, Pageonce, PocketSmith, Prosper, Simple, SoMoLend, Standard Chartered Bank
    • American Banker reports: Union Bank signs up for Fiserv’s Bill Pay.
    • Bolstr featured on MSNBC’s Your Business.
    • Backbase gives a glimpse of the Digital Marketing Module it showed at FinovateEurope.
    • Triple Pundit looks at how the SEC is holding SoMoLend and other debt/equity crowdfunding platforms hostage.
    • USA Today considers Lending Club’s success.
    • CIO lists Expensify as 1 of 3 apps to help at tax time.
    • BellaDati releases updates to its platform.
    • Credit Karma launches app for Android.
    • Med Gadget interviews Diversinet CEO, Dr. Hon Pak.
    • Finextra reports Geezeo signs 1st United Services Credit Union.
    • CashStar announces availability of tablet gifting.
    • Android, iOS updates now provide card-to-card payments with Pageonce.
    • Dough Roller blog names PocketSmith one of the best calendar-based personal finance apps.
    • Continuity Control to partner with cbanc Network to provide regulatory briefing via RegAdvisor.
    • Koolspan and DeviceFidelity team up to build TrustSleeve, bringing microSD-based voice encryption to the iPhone.
    • Locaid and Life360 join forces to help parents stay in touch with their kids.
    • The Financial Brand highlights 50 of the most spectacular website designs in banking: Simple (formerly BankSimple), Standard Chartered, Mint, & Moven. See Netbanker’s take on the list here.
    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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    Finovate Alumni News– January 8, 2013

    By Julie Muhn (@julieschicktanz) Posted on
    Categories: Acculynk, Banno, Credit Karma, Experian, Fiserv, Heckyl Technologies, LearnVest, Manilla, Mitek, Pageonce, PayPal, ProfitStars, ShopKeep POS
    • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThe Financial Brand investigates how Mitek’s bill payment service can aid customer account switching.
    • ShopKeep POS partners with Griffin Technology to launch iPad POS system with a built-in magnetic card reader.
    • Fiserv selects Aconite’s Smart EMV Manager solution to enhance EMV card processing systems.
    • LearnVest app reaches 100,000 downloads.
    • SEO-Cart integrates PayLeap from Acculynk Direct, a division of Acculynk.
    • Profile of Banno CEO in American Banker highlights recent partnership with ProfitStars.
    • Phillip Capital signs Heckyl Technologies to integrate News and Sentiment analytic platform.
    • CreditKarma, PayPal, Experian, Pageonce, and Manilla earn spots on Netbanker’s top 50 iPhone and iPad finance apps.
    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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    Seven Finovate Alumni Listed in the 2012 Inc. 5000

    By Julie Muhn (@julieschicktanz) Posted on
    Categories: Credit Karma

    Thumbnail image for Thumbnail image for inc5000Logo2.jpg

    Inc. Magazine recently released its list of the top* 5000 fastest-growing, private U.S. companies. Seven Finovate alums made the cut.

    Here’s a quick breakdown:

    Thumbnail image for creditkarmalogo.jpgCredit Karma

    Rank: 40
    Description: Free consumer credit score reporting, tracking and advice service
    3-year revenue growth: 54x
    2011 revenue: $5.7 million
    2008 revenue: $110,000
    Employees: 27
    Employee growth: 21
    Founded: 2007
    Thumbnail image for OnDeckLogo.jpg

    Rank: 302
    Description: Small business loan underwriting platform
    3-year revenue growth: 13x
    2011 revenue: $19 million
    2008 revenue: $1.5 million
    Employees: 96
    Employee growth: 64
    Founded: 2006

    BraintreeLogo.jpg

    Rank: 415
    2011 ranking: 47
    Description: Online payment processing platform
    3-year revenue growth: 10x
    2011 revenue: $9.9 million
    2008 revenue: $990,000
    Employees: 60
    Employee growth: 45
    Founded: 2007

    Plastyc2.jpg

    Rank: 564
    Description: Prepaid services for the underbanked
    3-year revenue growth: 7.6x
    2011 revenue: $3.3 million
    2008 revenue: $430,000
    Employees: 7
    Employee growth: 4
    Founded: 2005

    Thumbnail image for BazaarvoiceLogo.jpg

    Rank: 667
    Description: Provides software that captures and analyzes consumer-generated reviews 
    3-year revenue growth: 6.4x
    2011 revenue: $65 million
    2008 revenue: $10 million
    Employees: 780
    Employee growth: 680
    Founded: 2005

    Thumbnail image for Q2ebankingLogo.jpg

    Rank: 790
    2011 ranking: 377
    Description: Supports mobile banking applications for FIs
    3-year revenue growth: 5.3x
    2011 revenue: $27 million
    2008 revenue: $5.1 million
    Employees: 197
    Employee growth: 138
    Founded: 2004

    Thumbnail image for Authentify.jpg

    Rank: 1761
    Description: Provides authentication services
    3-year revenue growth: 2.6x
    2011 revenue: $9.8 million
    2008 revenue: $3.7 million
    Employees: 29
    Employee growth: 10
    Founded: 1999

    ________________________________________________________________________

    *Methodology

    The 2012 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million.

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