Finovate Alumni News

On Finovate.com

  • Zenmonics Lands Funding from FIS
  • USAA Taps StreetShares for Small Business Lending

Around the web

  • Studio Bank Selects Baker Hill’s Statement Spreading Solution as Building Block for Future Growth.
  • TechCrunch: Coinbase adds ZRX to Coinbase Pro.
  • Payfone Partners with Orange to Fight Identity Fraud in Four New Global Markets.
  • Earnix and DataRobot Announce a Strategic Alliance.
  • Azimo launches new service to serve SMBs.
  • Jack Henry & Associates named a Top Workplace by The Charlotte Observer for fourth consecutive year.
  • WorkFusion launches RPA Express Pro to complement its AI automation platform and scale 40,000 users of its free RPA product.
  • Geezeo CTO featured on Amazon Web Services video series This is My Architecture.

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

  • Cracking the Fintech Code: Secrets to Success for Fintech Start-ups.
  • Salt Edge Serves Up Open Banking Payment Infrastructure for Testing.

Around the web

  • Earnix forges strategic alliance with automated machine learning innovator, DataRobot.
  • IdentityMind Global partners with digital currency risk assessment specialist, CipherTrace.
  • HackerOne now accepts Bitcoin and Bitcoin Cash payments for bug bounties courtesy of new partnership with BitPay.
  • Fiserv taps Lee Cameron as new managing director for EMEA.
  • Siam Commercial Bank is the first bank on Ripple’s RippleNet to pioneer multi-hop, a feature that allows payment settlement on behalf of other financial institutions on the network.
  • Danske Bank leverages Featurespace’s ARIC fraud hub to reduce fraud.
  • Risk Ident wins Best eCommerce Technology Innovation at the London eCommerce Awards.
  • Banco Fassil is the first Bolivian company to migrate its ATM network to TranzAxis from Compass Plus.

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

  • Personetics Accommodates Digital-Only and Challenger Banks.
  • Diebold Nixdorf Brings its Bank-Like Kiosk to Emirates NBD Customers.
  • Munnypot Announces Strategic Partnership with Capita.
  • Switch Speeds Virtual Card Adoption with CardSavr API.

Around the web

  • aixigo wins top honors in the Outstanding Front-End Digital Solutions Provider (Vendor) category of the Private Banking Conference & Awards in Germany for its wealth management platform.
  • Trunomi announces partnership with blockchain-based digital ID solution, Shyft.
  • Mambu and Form3 team up to launch cloud-based payments processing service.
  • Fiserv collaborates with Rippleshot to provide early breach detection solution, Card Risk Office Fraud Warning.
  • Mitek adds identity document verification and biometric facial recognition technology to its platform courtesy of a new agreement with Experian.
  • Earnix introduces AcceleRate-it with Direct Deploy technology.
  • Trulioo wins Startup Canada’s Global Entrepreneurship Award.

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.

Spring Forward: FinovateSpring 2016 Alums Top $200 Million in Funding

FinovateSpring2016_scene

With FinovateSpring 2017 coming next month, we thought we’d take a look back at how the alums from our last spring conference a year ago have fared on the fundraising front.

And after a quick review, it seems that investors continue to be interested in the innovations of Finovate alumni. In fact, even without the $1.8 billion Golden Gate Capital spent on its acquisition of Neustar late last year ($2.9 million with debt included), the alums from FinovateSpring 2016 have had an impressive year of fundraising. While the specific funding amounts for a number of alums were not officially disclosed, our review shows more than $200 million raised by 20 FinovateSpring 2016 alums over the past year alone.

Among the bigger deals of the past year, the $72 million raised by OurCrowd stands out. OurCrowd, a crowd investing platform for venture capital, was founded in 2013 and is headquartered in Jerusalem, Israel. With a growing network of more than 17,000 investors, OurCrowd has raised $400 million on its platform, providing funding for 110 companies. Also noteworthy was the $29 million raised by FinDEVr/Finovate alum NYMBUS in two separate fundings in August and February. NYMBUS is an innovator in developing advanced, cloud-based core banking systems. Known as a “bank in a box” NYMBUS technology gives smaller banks and credit unions the ability to compete with larger FIs when it comes to providing customers with the latest digital banking services.

So to help get you ready for FinovateSpring 2017, here’s a list of the investments scored by alums from last year’s conference. And remember you can see live demos from all 20 of our fundraising FinovateSpring 2016 alums in our Video Archives.

February 2017

  • FinDEVr New York Alum NYMBUS Announces $16 Million in New Funding
  • Qumram’s Regtech Offering Lands $1.49 Million
  • Empyr Raises $3 Million in Funding

January 2017

  • ForwardLane Raises $1.1 Million in New Funding
  • Earnix Receives $13.5 Million in Growth Capital from New and Existing Investors

December 2016

  • Cyberfend Acquired by Akamai Technologies for Undisclosed Amount

November 2016

  • Sezzle Raises Seed Funding Ahead of Shopify Debut ($1.85 million)
  • Neustar Acquired by Golden Gate Capital for $1.8 Billion (including debt $2.9B)

October 2016

  • ThreatMetrix Picks Up $30 Million in Growth Capital from Silicon Valley Bank (debt financing)

September 2016

  • OurCrowd Pulls In $72 Million
  • WealthForge to Raise $2.5 Million in New Convertible Note Offering
  • OneVisage Earns Seed Funding in Round Led by Polytech Ecosystem Ventures (amount undisclosed)

August 2016

  • CUneXus Closes $5 Million Series A
  • Automobile Title Lending Platform Finova Financial Raises $52.5 Million
  • NYMBUS Raises $12 Million in Round Led by Vensure Enterprises

July 2016

  • Linqto Announces New Venture Funding from Keiretsu Capital (amount undisclosed)

June 2016

  • NICE Funding! CallVU Raises $3 Million
  • Civic Announces New Debt Financing from Blockchain Capital (amount undisclosed)
  • savedroid AG Completes €1 ($1.1 USD) Million Seed Round; Announces Beta Launch
  • Cyberfend Earns Undisclosed Non-Equity Assistance from MasterCard Start Path Global Program.
  • BanQu Secures $100,000 in Financing (convertible note)

Are you a FinovateSpring 2016 alums whose funding we missed? Send us an email research@finovate.com and we’ll be happy to make the update.

Finovate Alums Help Represent Fintech Innovation in Israel

Israel_FlagPYMNTS.com published an interesting, metric-based post on the tech scene in Israel. The post emphasized that while the country has a well deserved reputation as a “cybersecurity hotspot,” it is also true that “Israel’s tech ambitions and prowess extend much further.”

The salient statistic for me: 430—the number of fintech startups headquartered in Israel—is highly impressive, considering only 90 fintech startups existed in 2009.

With that in mind, here’s a look at some recent Israel-based Finovate alums who are helping make the country one of the world’s key locations for fintech innovation.

Our 14 Israel-based Finovate alums have raised more than $164 million in funding. Two alums—NICE Systems and Top Image Systems—are publicly traded on the Nasdaq, and two more—Capitali.se and TipRanks—have won Best of Show awards.

TheFloor_Israelfintechhub

There’s no doubt the fintech in Israel is on the move. The country’s first fintech hub, The Floor, was launched in 2015, and as of March 2016 is now located at the Tel Aviv Stock Exchange. Writing about why fintech innovation is thriving in Israel, VentureBeat’s Avi Zeevi of Carmel Ventures highlighted a few key features:

  • Mastery of relevant technologies such as real-time analytics, cybersecurity, and risk management
  • Legacy of success creating a “startup ecosystem (with) massive amounts of knowledge”
  • The country has learned from other key global financial centers
  • Global financial institutions have a presence and have been investing in Israel
  • Israeli FIs “have always been open to innovation”

“All of this had led to a dramatic rise in investments in Israel fintech companies,” Zeevi wrote. “By addressing the needs of both developed and emerging markets, Israeli fintech will only continue to grow.”

Are you an Israel-based Finovate or FinDEVr alum that we overlooked? Send us an email at research@finovate.com and we’ll update our roster.

 

 

FinovateSpring Sneak Peek: Earnix

EarnixHomepage

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

With Earnix Banking, bankers can leverage customer predictive analytics to align product and pricing decisions with corporate revenue, volume, and risk goals.

Features:

  • Predictive pricing analytics engine improves performance of lending and deposit portfolios
  • Offline workbench integrated with an online execution engine
  • Self–sufficiency; no “black box” element

Why it’s great
Improve customer lifetime value with data-driven product and pricing decisions while assuring you reach your corporate revenue, volume and risk goals.

EarnixPresenter1Presenters

Aviv Cohen, VP Marketing
With a flair for innovation and creativity, Aviv Cohen has been leading product and marketing teams in global enterprise software organizations for the past 15 years.
LinkedIn

EarnixPresenter2Marc Trudeau, Principal Consultant, Banking 
Marc Trudeau has been helping banks optimize their customer experience and improve pricing strategies in leading roles with Earnix, Acxiom, CEB and Capital One.
LinkedIn