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Tracking fintech, banking & financial services innovations since 1994
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.
FinDEVr New York Alum NYMBUSAnnounces $16 Million in New Funding
Commerce monetization company Empyr announced yesterday that crowdsourced reviews-giant Yelp is the latest company to join its card-linked offers empire. Yelp launched Yelp Cash Back, which uses a card-linked rewards service powered by San Diego-based Empyr.
Founded in 2015, Empyr seeks to help marketers track and monetize the data captured in the 93% of transactions that happen offline. Its online-to-offline (O2O) commerce solution offers an API that helps online publishers, such as Yelp, display offers from offline advertisers. When consumers pay at a participating merchant using a credit or debit card they’ve linked with the platform, Empyr’s partnership with the three major credit card companies facilitates a credit to the user’s account on a monthly basis.
Empyr’s parent company MOGUL was cofounded by Jon Carder in 2010. In an interview with Forbes, Carder, who currently serves as Empyr CEO, said:
Utilizing Empyr’s real-time offline purchase tracking, Yelp, for the first time, can show a brand how many online impressions they got and exactly how much those consumers spent in their stores. Knowing the in-store revenue driven from digital marketing allows a brand to calculate, rather than guess, their ROI. This is a game-changer for marketers who are trying to drive traffic into physical stores.
To start reaping rewards, Yelp users search cash back in the app and will see the range of businesses that participate in the program. After linking their credit and/or debit cards, users will automatically, on a monthly basis, be credited 10% of their purchase amount back. This not only helps businesses attract and retain customers, but also ensures top-of-wallet for the card issuers and, in the end, makes the customer happy.
Yelp Cash Back is now available at participating bars and restaurants in major cities across the U.S. Yelp reports that while the rewards service is not available for online orders or food delivery, it will be expanding the service to more brick-and-mortar restaurants in the future. In addition to its partnership with Yelp, Empyr also fuels card-linked rewards for Microsoft Earn, LivingSocial’s Restaurant Plus program, Coupon.com’s rewards program, and the Swagbucks Local app.
A look at the companies demoing live to 1,500+ fintech professionals May 10 & 11. Register today.
Empyr uses card-linked technology to bridge online-to-offline (O2O) commerce, driving online audiences to offline merchants and generating new revenue for websites and apps.
Connects offline businesses with online consumers
Generates revenue for websites and apps every time a linked card is used at merchants in the Empyr network
Real-time tracking of offline transactions
Why it’s great
Empyr’s strong revenue model rewards all participants in the O2O value chain—consumers, merchants, financial institutions, websites and apps.
Presenter: Jon Carder, CEO and founder
Jon Carder is a serial entrepreneur and CEO of Empyr, an online-to-offline commerce platform providing a frictionless approach to monetizing online consumers in the offline world. LinkedIn
Ninety three percent of commerce, over four trillion dollars, is still offline. With Empyr’s online-to-offline ad platform, publishers earn revenue on every offline transaction driven from their website, app, or email, while simultaneously rewarding their consumers with cash back or points, and driving more business to offline advertisers. It’s frictionless because it leverages something we all use: credit and debit cards. There are no coupons, loyalty cards, or apps for consumers and no hardware to install for offline advertisers. All of this can be easily implemented using the Empyr API, and monetized through Empyr’s growing base of offline advertisers.
Empyr presenters: Jon Carder, CEO, co-founder; Jarrod Cuzens, CTO and co-founder
Product Launch: Fall 2015 Metrics: 70 employees, $35M Product distribution strategy: Direct to Consumer (B2C); Direct to Business (B2B); through financial institutions; through other fintech companies and platforms, licensed
HQ: San Diego, California Founded: March 2010 Website:empyr.com
Empyr is an online-to-offline ad platform created for publishers such as banks and card issuers.
Features of Empyr:
Your consumers get cash back at restaurants, gas, grocery etc.
Banks earn revenue from each transaction
It works with any debit or credit card
Why it’s great
The vast majority of commerce—93%, or more than $4 trillion dollars—is offline. Yet, there is no simple way to track a customer from the point of seeing an ad online to making a purchase offline, known as online-to-offline commerce.
Jon Carder, Founder and CEO
Carder is a serial internet entrepreneur who, by the age of 30, had founded three multimillion-dollar online businesses. The most successful, ClientShop, was sold to Internet Brands in 2006 for $10+ million dollars. LinkedIn