Fastacash Secures $15 Million in Series B Investment


In one of the largest Series B rounds to date for a Singapore-based financial technology company, the social payments specialist Fastacash raised $15 million in new funding. The investment was led by Rising Dragon Singapore, UVM 2 Venture Investments, and frequent Finovate sponsor Life.SREDA, along with additional unnamed existing investors.

The funding takes Fastacash’s total capital to more than $23 million and will help the company deepen its presence in Southeast Asia, the Middle East, and India, as well as Europe, the United States, and the United Kingdom.

“Our technology has made what was a cumbersome and often laborious process as easy as the swipe of a finger,” says Vince Tallent, fastacash CEO and Chairman. “We have an unwavering focus on simplifying the consumer payments experience.”


From left: Gilberto Arredondo, fastacash chief commercial officer, and Vince Tallent, chairman and CEO, at FinovateEurope 2014.

Fastacash is a global social platform that enables users to transfer value, such as cell phone airtime or money, as well as content, such as video, from one person to another securely using social media and messaging platforms. Fastacash partners with banks, PSPs, mobile operators, remittance companies, digital wallet providers and others to enable P2P and “person-to-merchant” value and content transfers.

Founded in April 2012 and headquartered in Singapore, Fastacash currently operates in India, Indonesia, Russia, Singapore, and Vietnam. Recent partnerships with India’s Axis Bank and Visa Europe have helped raise Fastacash’s profile among FIs looking to take advantage of the growth in the international money-transfer market valued at more than $685 billion.

Fastacash made its Finovate debut in London at FinovateEurope 2014.

Finovate Alumni News


  • “Realty Mogul Builds $35 Million in New Funding”
  • “Fastacash Secures $15 Million in Series B Investment”
  • “Fenergo Raises $75 Million from Insight Venture Partners”

Around the web

  • InComm adds new brands to its Incentives e-commerce site, including vacation brands.
  • Green Dot opens subsidiary in Shanghai.
  • Citizens 1st National Bank introduces mobile remote deposit capture with integration of Malauzai SmartApp, Ensenta mRDC.
  • Liz Loewy, senior vice president for EverSafe, spoke about elder financial abuse at White House Conference on Aging.
  • Arxan Technologies partners with Sequent to develop new security solution to protect HCE-based payment systems.
  • Five Degrees appoints Peter-Jan van de Venn as new chief commercial officer.
  • BBVA Group inks strategic agreement with the Alliance for Financial Inclusion.
  • Business Insider names executives of Braintree, PayPal, Coinbase, and Venmo as 5 of 10 execs who are transforming the fintech industry.
  • Kotak Securities and Heckyl launch real-time news and market-info apps.
  • Cachet Financial Solutions to deploy Select Mobile Money platform for SOLE Financial’s Visa Paycard.
  • MyOrder teams up with WirecardGroup to issue contactless mobile cards using HCE technology.
  • Algomi wins “FinTech Innovation of the Year” honors at 2015 Euromoney Global Awards for Excellence.
  • Wealthfront lowers its minimum investment to $500.
  • Bank Innovation takes a look at how startups like SizeUp help banks work better with small businesses.
  • Authentication specialist BioCatch earns a pair of patents from the U.S. Patent Office.

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


Around the web

  • Forbes column on a “$30 trillion customer service experience” features insights from Motif Investing CEO Hardeep Walia.
  • Wells Fargo funding authorizes ApproveIt Web Server from Silanis Technology as part of their approved e-signature solutions program.
  • Sun Sentinel article highlights Toshl Finance in a discussion on the eight things you should know before going to college.
  • Column on RIAs and the active ETF market quotes AlphaClone CEO Mazin Jadallah.
  • Bright Funds establishes six disaster-response funds to support Nepal disaster relief.
  • The Economist features Lending Club, Prosper, Zopa, and Kreditech in its look at P2P lending and “financial democracy.”
  • Axis Bank launches Ping Pay, a multisocial payment app, in partnership with Fastcash.
  • considers what itBit’s New York banking license and $25M funding means for the broader bitcoin community. See itBit at FinovateSpring 2015 in San Jose this week.
  • ACI Worldwide signs Letter of Commitment to support U.K. Faster Payments Scheme’s New Access Model.

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.

Bank Innovation’s Coolest Brands of 2015 Features Finovate Alums



As if the challenge of developing innovative technologies were not enough, fintech companies today are also busy building brand identities that will help them stand out from the pack.

Bank Innovation took a look at brand identity in banking and banking technology. The result was a list of the 10 Coolest Brands of 2015 – half of which are Finovate alums.

The list runs the gamut from innovative startups doing interesting things with alternative currencies, to banks willing to take more and smarter risks than their rivals when it comes to leveraging financial technology to better serve their customers and clients.

Writing about the selection process, Bank Innovation’s Philip Ryan acknowledged the “ethereal” nature of the project: “like all brands, our list is based on nothing less than our ‘impressions,’ ‘feelings,’ and ‘beliefs.” At the same time, Ryan noted: “Mainly, we have relied on fact – what has been done and accomplished – for in the end the most profound determinant of a brand’s worth is what it yields.”

Here are the five Finovate alums that made Bank Innovations’ Coolest Brands of 2015. The full list is available here.

Also earning commendation were three other Finovate alums: Dwolla, Fastacash, and Fiserv.

2015 marked the fourth year in a row Bank Innovation has published its Coolest Brands in banking roundup (take a peek at their 2014 list here). Special congratulations to Venmo for making the list both this year and last.

Finovate Alumni News


  • Raises $3 Million in New Venture Debt Funding
  • Alt-Credit Score Startup, AireRaises $1.1 Million.

Around the Web:

  • Polish & Slavic Federal Credit Union chooses online banking platform from ACI Worldwide.
  • Finextra’s Future Money Focus interviews Thomas DeLuca, CEO of Advanced Merchant Payments.
  • BBC column on Technology of Business features AzimoCurrency CloudCurrencyFair, and TransferWise in a discussion on the currency transfer business.
  • profiles Singapore-based Fastacash.
  • PYMNTS features ThreatMetrix’s latest whitepaper.
  • Shentel integrates InComm’s CashTie API to facilitate bill pay at retail locations.
  • Financial Planning features FutureAdvisor’s freemium model.
  • Expensify launches new policy editor design.
  • Forbes features OnDeck Capital as one of three lesser-known strategies to secure business financing.
  • Bluefin Payment Systems to power payment processing for Clubworx software platform.
  • Cloud Lending Solutions announces agreement with BDO Solutions to bring its non-bank online lending platform to East Africa.

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.

Alumni News– February 26, 2015

  • Thumbnail image for 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.jpgFeedzai releases API updates to its fraud detection technology.
  • Bank of the West adds Snap-to-Pay functionality from Fiserv to its mobile banking app.
  • authenticID partners with Sionic Mobile to bring catfishAir to ION Rewards and ShopGive consumer apps.
  • Azimo expands its online money transfer service to Romania.
  • Fastacash teams up with Visa Europe, enabling P2P payments via social network for users of Visa Direct.
  • Finovate Debuts: InvestUp Launches UK Crowdfunding Supermarket.
  • PYMNTS looks inside MasterCard’s Masters of Code Hackathon.
  • ProfitStars launches EPS SmartPay Express to enable FIs to provide online payment and donation services for business customers.
  • PayPal and eBay prepare for breakup later this year.
  • Boku launches phone-on-file technology to remove friction from online transactions.
  • TransferWise marks US launch with #nothing2hide semi-naked march through New York financial district.
  • Fintech Finance’s video production showcases FinovateEurope 2015 action.
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.

Alumni News– November 26, 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 Thumbnail image for Finovate-F-Logo.jpgSpend Matters features P2Binvestor and its crowdfunding approach to providing credit to small businesses.
  • POTs and PANs looks at biometric authentication innovators, EyeVerify, BehavioSec, and BioCatch.
  • Best Advice explores EZBOB’s strategy to attract SMEs to online lending.
  • Bank of Internet USA to deploy IntelliResponse virtual agent technology.
  • First Annapolis’ The Navigator Newsletter interviews Sebastian Siemiakowski, CEO of Klarna.
  • Fastacash, Heckyl Technologies, Kabbage, Linkable Networks, and Nomis Solutions named to Red Herring Top 100 Global.
  • Investor Intel mentions Patch of Land and Realty Mogul in column on helping baby boomers participate in real estate crowd funding.
  • Azimo to join London mayor Boris Johnson’s trade mission to Malaysia and Singapore.
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 Alums Among SWIFT Innotribe’s Startup Challenge Finalists


With more than 280 companies applying, and 47 companies selected to compete, the Innotribe Startup Challenge is down to the top 15 companies that will move on to the Grand Finale. And six of the companies to advance are Finovate alums.


The Innotribe Startup Challenge is part of Sibos, the conference held by SWIFT each year. The goal of the Challenge is to help what the contest categorizes as “startups” and “innovators” get access and exposure to the broader fintech community. Events are held in London, Singapore, and New York during which competing companies pitch their innovations to industry experts and fintech investors. 

The Grand Finale will be held on October 1 at Sibos. The winning companies – one “early stage startup” and one “growth-stage innovator” – will receive a prize of $50,000 USD.
The six Finovate alums among the finalists are below.
Thumbnail image for AMPLogoHiRes.jpg

Founded: 2009
HQ: Hong Kong, China

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Founded: 2013
HQ: London, UK

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Founded: 2012
HQ: Singapore
Founded: 2012
HQ: Seattle, WA

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Founded: 2011
HQ: Berlin, Germany

Thumbnail image for Thumbnail image for Thumbnail image for Wallaby_logo.jpg

Founded: 2011
HQ: Pasadena, CA
Said Fabian Vendenreydt, Head of Markets Management, Innotribe and the SWIFT Institute at SWIFT said “Since it started in 2011, the Innotribe Startup Challenge has provided a huge opportunity to our community to understand and support this innovation.” 
For more information about the Innotribe’s Startup Challenge, visit their page here.

Alumni News– July 18, 2014

  • Finovate-F-Logo.jpgInnotribe finalists include early stage companies CurrencyTransfer and LendingRobot.
  • Innotribe finalists include growth stage companies Advanced Merchant Payments, Fastacash, Mambu, and Wallaby.
  • Pymnts talks with PaySimple CEO and founder Eric Remer to discuss how PaySimple looks at B2B payments.
  • Check announces major expansion of photo bill pay beta.
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 Alums Raise More than $600 Million for Second Quarter in a Row

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In the first quarter of 2014, 23 Finovate alums raised more than $592 million

And as the second quarter draws to a close, it’s clear that a comparable cohort of alums have kept the pace.

Over the course April, May, and June, 28 alums raised significant amounts of capital ranging from Gremln’s $100,000 to the $65 million raised by Lending Club. The quarterly total of $594 million is almost exactly the same as the previous quarter.

And given that some amounts are undisclosed (I’m talking about you, Holvi, RevolutionCredit, and, we’re confident that Finovate alums have notched their second $600 million fund-raising quarter in a row.
How does this compare with the less recent past? Very well, indeed. 
In the second quarter of 2013, 15 alums raised more than $200 million. This was a major improvement on the second quarter from 2012, which featured 14 companies raising more than $120 million. 
Total raised for Q2 2014 = $594 million
April — $217 million raised by 11 companies
May —  $226 million raised by 11 companies
June — $151 million raised by six companies

Note: Funding prior to becoming a Finovate alum not included. Questions? Comments? Email us at or

New $4 Million Investment for fastacash to Help Drive Growth, Product Development

Thumbnail image for fastacash_logo.jpg

Just a few months from their Finovate debut, Singapore-based social payments enabler fastacash has raised another $4 million in funding. The capital from new and existing investors takes the company’s total to $8.5 million.

Participating in the round were Jagdish Chanrai, principal of Kelwalram Chanrai Group, and Golden Oriole Investments, as well as other current investors.

The company said it plans to use the new capital to help fund expansion. fastacash chairman and CEO Vince Tallent cited partnerships with payments companies in India, Kenya, Russia, and Vietnam as examples of the kind of global presence his company seeks. The investment will also help speed up product development and deployment.
From the Finovate stage in February, Vince described fastacash’s vision as making “value transfers between two end users a very simple and secure experience.” However two end users define value – money, airtime, coupons – fastacash’s technology lets the sender and the receiver choose the channel and make the exchange. That channel could be Facebook, Instagram, Skype, Whatsapp, or any number of other social networks and messaging platforms.
By letting end users attach digital content ranging from pictures to audio to video, the appeal of the platform ranges from everyday transfers of value between individuals to banks, international remittance companies and others who want to, as Vince put it, send “marketing messages as a value transfer.”
Founded in April 2012 and based in Singapore, fastacash made its Finovate debut this February in London as part of FinovateEurope. See a demo of the company’s technology here.

Alumni News– June 5, 2014

  • Finovate-F-Logo.jpgNetbanker looks at the effect Apple’s TouchID will have on fintech companies, including Mint and CardFlight.
  • ValidSoft featured in Speech and Voice Recognition White Paper and recognized as a global leaders in voice biometrics.
  • Bolstr co-founders Larry Baker and Charlie Tribbett named to Techweek 100.
  • Arroweye Solutions partners with Caledonian Global Financial Services to provide digital on-demand debit card production.
  • Former Visa executive Elizabeth Buse joins Monitise as co-CEO.
  • New $4 Million Investment for fastacash to help drive growth, product development.
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.