Flint Raises $6 Million in Series B Funding

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A big month for Flint Mobile just got a bit bigger with news that the mobile payments company just raised $6 million in funding from new and existing investors.

The round was led by Digicel Group, and included participation from Storm Ventures, SVG Partners, and True Ventures. Flint’s total capital raised stands at $9 million, which includes $3 million from a round completed in May 2012.

Flint plans to put the new capital to use by (1) adding new talent, (2) boosting customer acquisition efforts, and (3) accelerating R&D in the mobile payments space. Co-founder and CEO Greg Goldfarb said that Flint will remain “focused on empowering the ‘non-countertop’ businesses that operate outside of store (environment) and have different requirements (from traditional retail).”
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Today’s announcement comes on the heels of news that Flint was releasing its Android app, and that the company had swapped out its card reader for a camera, as well. Goldfarb also noted that Flint had experienced transaction volume growth of more than 10x in less than year.
From some perspectives, Digicel Group may seem like an unlikely source of capital for Flint. Digicel is not especially active when it comes to funding startups, and has a role of its own as a global communications provider in more than 30 markets. That said, Digicel considers Flint to provide the kind of “pure digital app model” that represents an “inevitable market shift” in the way payments will be made in the future.
Founded in April 2011, Flint demoed its technology as part of the FinovateSpring 2012 show in San Francisco. See the company’s presentation here.

Finovate Alumni News– October 25, 2013

  • Finovate-F-Logo.jpgCardFlight wins best startup at New Jersey Tech meetup.
  • Firmology interviews Jason Richelson, CEO of ShopKeep POS.
  • Humanitarian organization Oxfram partners with TransferWise to help British Indians avoid fees.
  • InComm launches Cashtie cloud match service.
  • Flint raises $6 million in Series B funding.
  • Taulia was recently announced as a 2013 Bully Award winner.
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– October 22, 2013

  • Finovate-F-Logo.jpgUS Storage Centers and PayNearMe unveil convenient electronic cash payments for self-storage tenants.
  • Actiance expands partnership with ZL Technologies to deliver enterprise and public social data into unified archive.
  • Blackhawk Network to acquire InteliSpend Prepaid Solutions.
  • Cachet Financial Solutions launches CheckRisk Pro, a tool to mitigate RDC risk.
  • Netbanker: Simple to launch bluetooth-based P2P payments.
  • The American Bankers Association endorses Q2’s enterprise solutions for secure virtual banking.
  • Flint Mobile announces launch of swipe-free mobile payment app for Android.
  • Bloomberg Businessweek takes a look at Motif’s “design-it-yourself investing.”
  • TechWorld Australia features P2P currency exchange innovator, CurrencyFair.
  • Fenergo, Aite Group report: Capital market firms prefer centralized client onboarding.
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– October 14, 2013

  • Thumbnail image for Finovate-F-Logo.jpgForbes column on banking and mobile payments highlights Finovate alumni Check, Fiserv, and FIS.
  • BBC features MasterCard’s efforts to replace food stamps and cash with cards in Lebanese refugee camps.
  • Jim Marous references GoBank and Moven in report on innovation in mobile banking functionality.
  • LowCards.com reports: Dynamics offers artistic credit cards.
  • Flint Mobile opts for camera over card reader.
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– July 3, 2013

  • Finovate-F-Logo.jpgSmithsonian Magazine features how BehavioSec authenticates users.
  • NECN.com features Tom Leighton, CEO of Akamai Technologies to talk about how Akamai makes the internet faster and safer for its clients.
  • Ixaris launches Ixaris Payments Server to help banks build their own corporate prepaid programs.
  • Android Police reviews EyeVerify.
  • Tasker Payment Gateways CEO touts alliance with Flint Mobile.
  • CurrencyFair featured in The Independent column on saving money when sending cash overseas.
  • Yodlee expands international reach by partnering with BlueChilli, a Sydney-based technology startup incubator.
  • Linkable Networks wins endorsement from American Bankers Association for its card-linked offer technology.
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– June 13, 2013

  • Finovate-F-Logo.jpgZopa Safeguard now has 15,000 users and has had £16m lent on platform. Zopa reaches £300m in money lent to borrowers in the UK.
  • Bank Innovation reports: Cardlytics Has 33 Million Active Users at 400 Banks.
  • Inc. Magazine creates infographic of how to select the right crowdfunding platform. Bolstr and SeedInvest among choices.
  • CommunityLend’s FinanceIt partners with Pivotal Payments, a credit card payment processing company, to enable merchants to process loans directly at the POS.
  • Capital Access Network opens new facility in Lindora, Costa Rica to support growth.
  • Finect president Jennifer Openshaw talks networking for financial professionals on MarketWatch Radio.
  • Street Fight Mag includes Placecast among its “5 Tools for Point of Interest Geo-Targeting”.
  • TransferWise launches GetPaid to make it easier to get compensated when working with international clients and partners.
  • Developer Tech features Keynote Systems’ CEO Umang Gupta.
  • Point of Sale highlights Finovate alumni Flint Mobile and PayPal.
  • Social Trading Guru reviews ayondo 3.0.
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– May 24, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMainStreet features “stock tip truth-o-meter” and FinovateSpring 2013 Best of Show winner TipRanks.
  • GMC Software Technology enters partnership with PostConnect to deploy Inspire technology.
  • AppScout takes a look at Flint’s mobile app for iPad and iPhone.
  • Yandex.Money integrates with Еuropean payment provider Skrill.
  • Banking Business Review reports: Handpoint introduces Chip and PIN MPOS systems.
  • Newfination visits the Personal Capital offices, interviews Head Of Advisory Services, Kyle Ryan.
  • American Banker mentions how Lendio and Lighter Capital are changing the face of small business lending.
  • Internet Retailer reports: ThreatMetrix helps EMerchantPay reduce its clients’ chargeback rates.
  • Klarna named “most innovative company” at annual Media Momentum Awards arranged by GP Bullhound.
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– May 13, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgHeckyl Technologies named fastest growing enterprise startup in Indian brokerage industry.
  • InvestorPlace interviews Flint Mobile CEO and co-founder, Greg Goldfarb.
  • EyeVerify raises $2.3 million in Series A round. See them demo at FinovateSpring in San Francisco this week.
  • Advanced Trading takes a look at Quantopian and the rise of the new quants. Meet them at FinovateSpring.
  • FIS to provide core banking, back-office processing support to UK-based Sainsbury’s Bank.
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– May 9, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgForbes.com takes a look at the competition between Square and Flint Mobile.
  • Compass Plus presents instant card issuance in debut appearance at CARTES America conference.
  • SAGE SA names Amir Suleman as Head of Sales for Middle East.
  • Striata receives PCI compliance for its Grade 1 infrastructure in the UK.
  • New Europe Online interviews eToro’s Head of Product Marketing, Alon Levitan, about how eToro is changing online trading.
  • Good.is features SaveUp’s Priya Haji.
  • PEHub interviews Drew Sievers, who led mFoundry to an acquisition by FIS.
  • Fraternity and Sorority Political Action Committee leverages Billhighway Give to Reach Fundraising Goals.
  • Perfectsen selected as a semi-finalist for the Innotribe Startup Challenge 2013.
  • OneID wins 2013 North America Frost & Sullivan Award for New Product Innovation. Come see their presentation at FinovateSpring next week.
  • Locaid earns extended relationship with LaaS company Timesheet Mobile. See Locaid demo at FinovateSpring in San Francisco.
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– April 3, 2013

  • Finovate-F-Logo.jpgTech Dirt looks at Narrative Science’s role in algorithmically-generated journalism. Come See Narrative Science at FinovateSpring.
  • Bdaily talks with Monitise EVP, Lisa Stanton, about mobile banking.
  • Numerica Credit Union adopts BBC Easy’s C&I Lending program.
  • CU Times reports Fiserv’s Spot Pay offers CUs a co-branded mobile payment platform and dongle.
  • Forbes looks at the growth of edo, Cardlytics, and Cartera Commerce and how card-linked offers are better than daily deals.
  • TechCruch reports OpenCoin has acquired SimpleHoney. See OpenCoin demo at FinovateSpring in May.
  • ProfitStars launches BillSimple from iPaySolutions.
  • TSYS to present at annual card forum and expo in April.
  • IntelliResponse adds 155th customer, the company’s first credit union.
  • Convenience Store Decisions notes the growing role of mobile payment options such as PayPal and Flint Mobile.
  • FIS, Open Solutions veteran Gary Daniel to join Allied Payment Network. Join them in San Francisco for FinovateSpring.
  • Banking Technology looks at eWise, Pageonce, Mint.com, Kiboo, Holvi, & Moven as PFM resurgence examples.
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– April 2, 2013

  • Forbes looks at Open Bank Project’s open API, interviews TESOBE founder and CEO, Simon Redfern.
  • ChicagoBusiness.com features Bolstr, calls it a new crowdfunding twist.
  • Major Italian bank invests more than $300k to expand its use of Kofax software to branches in EU, the Middle East and North Africa. Come see Kofax demo its new technology at FinovateSpring next month.
  • UK-based global application software and services company, Misys launches new suite of online, mobile banking products powered by IND Group.
  • Mobile Payment Power features Flint mobile payment app.
  • The Seattle Times takes a look at the launch of Realty Mogul. Join them in San Francisco for FinovateSpring.
  • TSYS renews long-term payment processing agreement with Columbia State Bank.
  • TradeKing analyst to speak at annual options industry conference.
  • Pando Daily reports on Quantopian’s new feature, which allows traders to import external data. See them demo at FinovateSpring.
  • Gold Bullion International teams with Envestnet to facilitate precious metals trading for independent advisors.
  • BancVue acquires BancLeasing to allow Community FIs to strengthen commercial lending.
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– March 27, 2013

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  • Acculynk to provide UnionPay International UPOP authentication service via PaySecure.
  • GMC  Software Technology’s GMC Inspire now available as a complete solution with Xerox devices.
  • Klarna AB wins SEK 150 million contract with EVRY.
  • Finextra reports East River FCU & Ishpeming Community FCU to integrate Geezeo’s PFM product.
  • International Business News reports Aditi Technologies and TIBCO Software announce strategic alliance to bolster enterprise social and e-commerce solutions.
  • Lend Academy reports: Lending Club adds monthly income and loan ID filters.
  • American Banker reports: Harleysville Savings chooses Q2ebanking’s online banking platform.
  • TIO Networks surpasses 1 million transactions across all TIO Wallet members.
  • BankersLab launches Collections Edition of its Bank-it mobile game.
  • Bell State Bank deploys Fiserv’s mobile banking system.
  • Banking Technology looks at Kiboo’s participation in London’s fintech Innovation Lab.
  • Wilson Bank & Trust introduces MoneyDesktop to members.
  • TIBCO Software acquires Maporama Solutions.
  • P2P lending comes to real estate courtesy of Realty Mogul.
  • Small Business Computing takes a look at Flint’s pursuit of “highly mobile small businesses.”
  • Retail Touch Points features Jingit and a conversation on the importance of in-store marketing ROI.
  • Bank Crerdit News talks compliance with Fenergo CEO Marc Murphy.
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.