Funding Archives - Page 54 of 89

Endor Raises $45 Million in ICO

By David Penn Posted on March 26, 2018
Categories: Endor, Funding

Predictive analytics specialist Endor has raised $45 million in an initial coin offering that was launched just last month. This fast funding is a reminder that ICOs as a funding source for startups will be one of the big fintech stories of 2018.

“During the pre-sale we received a staggering amount of participation requests,” the company’s homepage reads. “Our motivation was to allow as many contributors as possible to participate, which was achieved by significantly limiting the individual contribution amounts, This torrent of support allowed us to reach our pre-defined cap of $45 million.”

More than a funding source, Endor’s ICO will also be the key to accessing the company’s predictive analytics platform. Known as “Google for predictive analytics,” Endor combines massive computing and MIT-developed proprietary social physics technology to create a predictive analytics platform that responds to questions asked in plain language with automated accurate predictions. This is accomplished without requiring coding experience or expertise in data science. And after the company’s successful ICO, all that businesses will need in order to take advantage of the new technology is a pocket full of EDR, the company’s cryptocurrency tokens.

Left to right: Endor Chairman Doron Alter and COO Inbal Tirosh demonstrating the company’s predictive analytics platform at FinovateFall 2017.

The company has developed the ENDOR.coin protocol to help “democratize data science,” specifically by making predictive analytics more accessible to SMEs. Endor issued 1.5 billion EDR tokens, with 20% of the total available as part of the ICO. The company says that 40% of the tokens generated will be used to finance R&D efforts. The tokens were initially priced at $0.27 USD. In his review of the offering at CryptoCompare, Ricardo Bago points out that companies will pay in tokens for prediction analysis of their data and are compensated with EDR token “when insights derived from their data are being used for predictions.” This, Bago suggests, helps “incentivize the contribution and maintenance of high-quality data streams.”

For a deep dive into the data science behind, social physics and the Endor protocol, check out the white paper from Altshuler and Pentland published earlier this year. The technology promises:

Constantly-expanding catalogue of predictions
Do-it-yourself API for advanced users
Automatic fusion of private and public data
Guaranteed data privacy
“Predictions by the people for the people”

Headquartered in Tel Aviv, Israel, Endor demonstrated the company’s predictive analytics platform at FinovateFall 2017. Endor was named a Cool Vendor in 2017 by Gartner, and a Technology Pioneer by the World Economic Forum. The company was featured earlier this month in a profile on UTB (Use the Bitcoin). Yaniv Altshuler is co-founder and CEO, having taken the helm from Doron Alter who transitioned to the position of company Chairman at the beginning of the year. Endor includes Coca-Cola, Twitter, and Mastercard among its clients and is partnered with fellow Finovate alum, Market Prophit.

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eToro Raises $100 Million in Series E

By David Penn Posted on March 22, 2018
Categories: eToro, Funding

In a round led by China Minsheng Financial, social trading network eToro has raised $100 million in new funding. The Series E, which featured participation from SBI Group, Korea Investment Partners, and World Wide Invest, as well, will help the company expand into new markets. The new capital will also help eToro build on its R&D efforts in blockchain technology and asset digitization. eToro’s total capital is now $162 million.

“This round of investment will be critical in helping us to further develop our technology infrastructure to support the rapid growth that we’ve recently experienced,” eToro founder and CEO Yoni Assia said. “It will also help us to enter new markets, enabling us to bring our social approach to investing to more people around the world, and providing more people with safe and secure access to the markets.”

Assia added that the funding would enable eToro to remain as innovative technically as it is in the field of social trading and investing. “As new technology continues to change finance,” he said, “we want to remain at the forefront of that change. So today’s announcement will help us to continue our market leading work in blockchain research and the development of digital assets.”

Digital assets and blockchain have proven to be significant opportunities for growth for eToro. In February, the company added XLM (Stellar Lumens) to its offerings. Back in December, eToro teamed up with CoinDash to build blockchain-based social trading products. The company enabled direct trading of five major cryptocurrencies – Bitcoin, Ethereum, Ethereum Classic, Litecoin, and Ripple – back in September, shortly after earning a spot on the European Fintech 100.

Named a company to watch by Disruptor Daily, eToro has offices in Tel Aviv, Israel, and New York City. The company demonstrated its CopyFunds for Partners solution at FinovateEurope 2017. With a trading and investing community of more than nine million users, eToro’s network gives users the opportunity to automatically copy the buying and selling of the network’s most successful traders and investors. Those traders and investors can earn income when their trades are copied by members of the community as part of eToro’s Popular Investor program. Stocks, exchange-traded funds, currency pairs, indices, and commodities, as well as cryptocurrencies can be traded on eToro’s platform.

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YellowDog Secures Funding Courtesy of Round Led by Bloc Ventures

By David Penn Posted on March 14, 2018
Categories: Funding, YellowDog

YellowDog, which introduced its Limitless Compute technology at FinovateEurope last week, has scored a major investment in a round led by Bloc Ventures. The total amount of the funding was not disclosed. Featuring participation from Bristol Private Equity Club – and a successful Seedrs crowdfunding campaign – the round will enable YellowDog to tackle its next big challenge: big batch processing for financial services.

“The backing of Bloc proves that we are on the right trajectory with our offering,” YellowDog founder Gareth Williams said. “This fundraise will help YellowDog begin to unlock the massive potential in new sectors starting with financial services. Having Bloc as an investor means we can begin to leverage both their expertise and their network to support our growth.”

David Leftley, CTO and co-founder of Bloc, pointed to the unique nature of YellowDog’s offering as a reason for supporting the firm. “The ability of YellowDog’s technology to spin-up massive high performance computing grids already has been proven in the animation market and the potential to scale into other markets such as financial services and engineering fits perfectly with our investment strategy.”

More than 1,000 companies are using YellowDog’s platform to unleash the massive latent potential of their existing computer networks. Combined with the public cloud, the technology gives institutions secure and immediate access to hundreds of thousands of cores without the complication of relying on multiple vendors. Integrated within the company’s current IT infrastructure, the platform enables high performance computing clusters that securely extend any underutilized computing system.

The YellowDog platform can also burst batch workloads to preferred public cloud providers to ensure prompt batch processes. The company said its vendor-agnostic technology is “more flexible than virtualization, more resilient than high performance computing clusters, and less expensive to deploy than hyperconvergence.” Leftley praised YellowDog’s leveraging of both AI and machine learning as “a big differentiator in this market” and said Bloc Ventures was committed to helping the company “unlock (its) full potential.”

Shortlisted by the National Technology Awards 2018 last month in the Startup Tech Company of the Year category, YellowDog was founded in 2015 and is based in Bristol, U.K. The company announced its 1,000th user on its platform last fall – a milestone reached after just two years in operation – and has been awarded both the Bristol Life Technology and Innovation Award and Bristol Post Startup of the Year Award for 2017. Video of the company’s demo from its debut at FinovateEurope 2018 will be available soon.

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Behavioral Biometrics Specialist BioCatch Raises $30 Million in New Funding

By David Penn Posted on March 13, 2018
Categories: BioCatch, Funding

In a round led by Maverick Ventures, behavioral biometric innovator BioCatch has raised $30 million in new funding. The investment round, which featured participation from American Express Ventures, NexStar Partners, Kreos Capital, CreditEase, OurCrowd, JANVEST Capital and other investors, takes BioCatch’s total funding to more than $41 million.

More importantly, the financing “cements” BioCatch’s “growth plan and vision to redefine digital identity and enable renewed trust in online interactions.

“BioCatch helps answer the question, ‘who are you’ in an online world where fraudsters operate with the legitimate credentials of others, making it very hard to distinguish them from authorized users,” company CEO Howard Edelstein said. Part of an overall “identity strategy” for its clients, Edelstein noted that BioCatch’s technology takes a prevention-oriented approach to cybersecurity that creates as little friction for the customer as possible.

“(Our) strategy cuts across the digital ecosystem,” Edelstein said. “from stopping fraud in real-time to preventing fake accounts from being opened in the first place, all while enabling a seamless user experience.”

Monitoring more than 5 billion transactions a month, BioCatch’s technology develops behavioral biometric profiles of users and models various types of suspicious and malicious behavior. These profiles enable BioCatch to identify malware, robotic activity, phishing and other social engineering-based attacks as well as other threats both before and after login. The technology leverages artificial intelligence, big data, and machine learning and more than 2,000 different parameters to provide real-time alerts when pattern anomalies are spotted.

“Identity is becoming a central component that drives all things digital, which makes the BioCatch story extremely compelling on multiple levels,” Managing Director of Maverick Ventures Matthew Kinsella said.

Last fall, the Tel Aviv, Israel-based company partnered with Samsung SDS America, adding a layer of fraud protection to Samsung SDS’ Nexsign enterprise biometric authentication software. BioCatch partnered with Canadian, boutique-based systems integrator, HoneyTek Systems last September, and teamed up with risk management firm LexisNexis Risk Solutions in August. Edelstein, BioCatch chairman since 2016 who added CEO to his list of duties earlier this year, credited these partnerships for helping “demonstrate how BioCatch is contributing to digital transformation” when it comes to “chang(ing) the way identity is managed online.”

BioCatch demonstrated its Passive Biometrics/Invisible Challenges technology at FinovateFall 2014. The company was founded in 2011.

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Roostify Lands $25 Million to Disrupt the Mortgage Industry

By Julie Muhn (@julieschicktanz) Posted on February 15, 2018
Categories: Funding, Roostify

Mortgagetech startup Roostify raised $25 million to further its quest to improve the mortgage industry today. The Series B round comes from new investors Cota Capital, Point72 Ventures, and Santander Innoventures, and existing investors JPMorgan Chase, Colchis Capital, and a subsidiary of USAA.

The funding brings Roostify’s total raised to $33 million. The California-based company will use the funds to deepen its presence in the enterprise space, implement product enhancements, and expand into new markets.

Rajesh Bhat, co-founder and CEO of Roostify said that when the company launched four years ago, having a digital strategy was simply an ambition for lenders. Today, digitizing the mortgage process has evolved into a business imperative. “Lenders now realize the value of providing consumers with a transparent, mobile, and seamless experience to obtain a loan without needless stress-inducing delays and red tape. We have developed a solution that allows lenders of all sizes to give their teams a tool to digitally engage with clients and to bring the loan origination experience to the consumer,” Bhat added.

Originally launched as a way to create efficiencies by digitizing the traditionally paper-bound processes, Roostify has evolved into an enterprise scale platform aimed to help U.S. lenders accelerate, simplify, and reduce costs associated with the mortgage origination process. Leveraging its cloud-based API solution, lenders help clients with the entire mortgage process– from searching for the loan to close– via a fully-digital, branded experience. Bobby Yazdani, Cota Capital’s Managing Partner, said his team was “immensely impressed with what Roostify has accomplished in the last four years,” He added,“Roostify has evolved not only their own offering and product focus, but the market as a whole, helping the lending industry transform itself for the digital age.”

Roostify presented at FinovateSpring 2016 where the company demoed account aggregation capabilities for asset verification, as well as integrations with TurboTax and Equifax. Since then, the company has teamed up with Chase to power the bank’s self-service mortgage application process. Last month, Roostify launched an integration with LendingTree that blends LendingTree’s aggregation technology with Roostify’s mortgage digitization. For more on the mortgagetech sector, check out our industry overview.

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IdentityMind Global Raises $10 Million to Fuel Global Growth

By David Penn Posted on February 15, 2018
Categories: Funding, IdentityMind Global

In a Series C round led by Benhamou Global Ventures and Eastern Link Capital, IdentityMind Global has secured $10 million in new funding. The investment, which also featured the participation of Hanna Ventures, Overstock.com, and Zanadu Capital Partners, will help support the digital identity specialist’s expansion within international markets and to grow its new business unit designed to provide KYC and AML solutions for ICO and cryptocurrency markets.

“We feel privileged to be working with an elite group of high quality investors who have a proven track record of success,” IdentityMind Global CEO Garrett Gafke said. “The market demand for digital identity-based solutions in today’s global digital economy is booming. IdentityMind, the pioneer in digital identities, with hundreds of customers spanning six continents, is uniquely positioned to meet growing global market demand.”

An alum of Finovate’s developer conference series, FinDEVr, IdentityMind Global is looking specifically to markets in Asia, Latin America, and Europe for expansion. And with regards to the new market of ICOs and cryptocurrencies, the company’s announcement comes only one week after unveiling its new business unit dedicated to providing anti-fraud solutions for ICOs.

Overstock.com CEO and IdentityMind investor Patrick Byrne referenced the rise of ICOs and their needs in the funding announcement. “ICOs and cryptocurrencies are going mainstream and IdentityMind is one of the key players in helping ensure transparency, legitimacy, security and compliance which will only lead to faster and greater marketplace adoption.”

In addition to new opportunities in the emerging ICO and cryptocurrency space, IdentityMind Global has also taken advantage of new trends in regtech more broadly – including the EU’s GDPR – that will increase demand for its AML, KYC, transaction monitoring, sanctions screening, and fraud prevention services. The company cited statistics from Frost & Sullivan that indicated that the global RegTech market could reach $6.45 billion by 2020.

“The ongoing growth of synthetic or stolen identities requires digital identity-based solutions to prevent identity fraud and maintain the integrity of the global digital economy,” Managing Partner for Eastern Link Capital Yodong Hou said. “IdentityMind has been identified as a ‘go to’ partner for those companies needing to implement an effective defense to identity thieves, online fraudsters, and money launderers worldwide.”

IdentityMind Global participated in Finovate’s developers conference in London in 2017, presenting its Entity Link API that helps businesses meet KYC and AML-related risk and compliance requirements. Last month, the company announced a partnership with fellow Finovate alum Mitek, integrating the two fintechs’ digital ID verification capacities. With this investment, the company’s total capital stands at more than $20 million.

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Payworks Completes $14.5 Million Series B Round

By Julie Muhn (@julieschicktanz) Posted on February 14, 2018
Categories: Funding, payworks

Point of sale (POS) technology company Payworks has reeled in its second round of funding. The Germany-based company closed a $14.5 million round from CommerzVentures and Visa, with contributions from existing investors Speedinvest and Finparx. Today’s financing brings Payworks’ total funding to $19 million.

Explaining the firm’s reasoning behind the funding, Stefan Tirtey, Managing Partner of CommerzVentures said that it “invests in founders with a passion for innovation and proven ability to execute.” He added, “We back businesses that can have a significant impact on the financial services industry. We believe that Payworks has both, a great team, and an offering that can have real impact in the fast-changing world of card payments.”

Payworks will use today’s financing to fulfill demand for its solutions and fuel global growth, scale operations, and focus on increasing R&D and product teams across its offices in Munich, New York, London, and Barcelona. In the press release, Christian Deger, Payworks founder and CEO said, “We are on a great mission to build a new operating system for the Point of Sale and are very excited to have CommerzVentures and Visa join us on that journey. With the additional funding we are fully equipped to further develop our technology and product and support the demand coming from leading payment players looking to modernize their solutions.”

Founded in 2012, Payworks focuses on POS technology. The company’s payment gateway technology, Pulse, is a set of SDKs and APIs that remotely update card readers and set up in a couple of minutes to make developers and their merchants EMV certified, PCI compliant and P2PE ready. The company’s partners include First Data, TSYS, Stripe, and American Express. Additional products include Accept, a white-label mPOS solution for merchants, and Engage, a customer data and CRM platform.

At FinovateEurope 2015, the company’s CEO Christian Deger demonstrated how Payworks builds payment solutions and checkout options. Late last year, the company extended its partnership with Verifone, integrating the Verifone e355 mPOS and the VX 820 onto the Payworks platform.

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Payfone Receives $23 Million in Funding from Synchrony Financial

By Julie Muhn (@julieschicktanz) Posted on February 14, 2018
Categories: Funding, Payfone

Digital identity authentication company, Payfone raised $23 million today. This Series F round brings the company’s total funding to $93.6 million.

Payfone will use the financing to expand its user experience by enhancing security services in retail, insurance, and healthcare. The round was led by an institutional investor with participation from Synchrony Financial, MassMutual Ventures, as well as individual investors Anil Aggarwal, Jonathan Weiner, and Andrew Prozes.

In a press release, Rodger Desai, founder and CEO of Payfone explained that consumers will increasingly expect that transactions are mobile-first, secure, and fast. He added, “The days of using quizzes, questions and one-time codes to verify identity are numbered. Payfone is ushering in a new world where authentication is instant, passive and continuous using the most advanced cybersecurity. Our mission is to help clients across the financial, retail, insurance, healthcare, and technology industries use authentication to not only thwart fraud but drive revenue.”

Payfone, which was founded in 2008 as a mobile payments company, demoed 1-Touch Checkout at FinovateFall 2012. The New York-based company has since pivoted to focus on authentication solutions.

Among Payfone’s product offerings are Instant Authentication for Mobile, a frictionless two-factor authentication solution, and Instant Authentication for Voice, an API that uses the caller’s phone number to authenticate them. The company also offers a Trust Score that provides a measurement of the reliability and risk of each mobile device.

Managing director at MassMutual Ventures, Eric Emmons, said, “Payfone enables service providers across the financial, retail, insurance, healthcare and technology sectors to offer a frictionless mobile and online experience to their customers, which substantially improves conversion rates and dramatically reduces the cost of call center operations.”

Payfone, whose technologies are currently used by six of the top 10 U.S. banks, processes millions of signals per day to authenticate and score transactions; the company currently authenticates 10 million transactions per day. Earlier this year, Payfone partnered with O2, a U.K.-based mobile network operator, in an effort to protect mobile users from digital fraud. Last spring, the company announced it would power mobile ID authentication for Zelle.

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Dwolla Lands $12 Million

By Julie Muhn (@julieschicktanz) Posted on February 12, 2018
Categories: Dwolla, Funding

In a short, three-sentence blog post, Dwolla CEO Ben Milne announced that the company closed a $12 million round of funding. The investment, which brings the Iowa-based company’s total to $51.4 million, was led by Foundry Group with participation from Union Square Ventures, Next Level Ventures, Ludlow Ventures, High Alpha, and Firebrand– all existing investors.

The funds will be used to support the financial platform’s growing capital requirements and to expand its team. Founded in 2008, Dwolla is growing. “We have more than 40 openings to fill this year,” Milne noted in his blog post announcing the funding. “As we build our team, we do so knowing that the best teams are built by the inclusion of diverse ideas, experiences, and people,” he added.

Dwolla offers a white-label payments API that allows firms to credit or debit any U.S. bank account the user has connected. The company integrates with Sift Science to offer real-time identity verification to help reduce fraud. And in May of 2017, Dwolla integrated with Plaid to instantly verify and authenticate customers’ bank accounts using tokenization.

Dwolla, which most recently demoed FiSync at FinovateSpring 2015, is headquartered in Des Moines, Iowa. Last summer, the company added a multi-user feature to its Access API dashboard. In January, Dwolla began powering identity verification for Yahoo!’s Tanda savings app.

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Stash Raises $37.5 Million, Launches Custodial Accounts

By Julie Muhn (@julieschicktanz) Posted on February 12, 2018
Categories: Funding, Stash

Mobile-first financial platform Stash closed $37.5 million in funding today to help Americans rethink how they invest and save. Union Square Ventures led the Series D round, with contributions also coming from existing investors Breyer Capital, Coatue Management, Entree Capital, Goodwater Capital, and Valar Ventures.

“Through customer focus and a data-driven mindset, Stash has been able to create a powerful consumer brand, with unprecedented growth, on its journey to fix the inequities plaguing financial opportunity across the U.S. We’re excited to join them on this mission to shake up the status quo,” said Rebecca Kaden, Partner at Union Square Ventures.

Today’s round brings Stash’s total funding received in its three-year history to $116.3 million. After last October’s $40 million round, Business Insider estimated the company’s value at $240 million. The New York-based company will use the funds to support the launch of its newest batch of products, including Custodial Accounts, which will be rolling out this week. Custodial Accounts will allow Stash clients to open new accounts for minors to give them a head start on their finances.

Additional new features include Smart-Save (pictured right) and Stash Coach. Smart-Save studies a user’s spending habits and uses an algorithm to determine where they have spare cash, then moves a portion of that amount into a savings account, from which clients can withdraw at any time for free. Stash Coach provides financial recommendations and challenges, while providing guidance and support for accomplishments.

“Stash’s goal since day one has been to help the masses of underserved Americans jump start their journey towards building a healthy and prosperous future,” said Brandon Krieg, co-founder and CEO of Stash. “Through intelligent products and an emphasis on education, we’ve been able to meaningfully improve the financial lives of nearly two million clients. We’re proud of what our customers have accomplished, but we’re even more excited for what’s ahead.”

Stash currently serves over 1.7 million clients on its investing platform, which allows users to choose from a selection of over 40 curated ETFs, and is showing strong growth– approximately 40,000 new clients join its investing platform weekly. The company counts 5 million subscribers to Stash Learn, a financial education content newsletter.

The company’s mobile investing platform doesn’t collect add-on commissions or trading fees, and charges $1 per month for accounts under $5,000. Users with portfolios over that threshold pay 0.25% per year. For all accounts, Stash has lowered the overdraft fee to $0.50 for returned deposits. This is significantly lower than the $35 average overdraft fee that traditional banks charge.

Krieg debuted Stash Retire at FinovateFall 2017. In November of last year, KPMG and H2 Ventures named the company on its 2017 Fintech 100 list. The month prior, Stash announced plans to expand its platform from investing to a more robust banking service. This is part of the rebundling of fintech trend that many analysts predicted would dominate 2018.

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Trunomi Closes $3.5 Million Round from CloudScale Capital

By Julie Muhn (@julieschicktanz) Posted on February 6, 2018
Categories: Funding, Trunomi

Consumer consent and data rights company Trunomi closed a $3.5 million round of funding today. This investment brings the Bermuda-based company’s total funding to $10.5 million.

Trunomi will use the funds to manage demand for its technologies and to continue its global expansion. And with the E.U. GDPR deadline coming up, the company will likely see a boost in banks and companies vying for its services, which helps businesses request, receive, and capture customer consent to the use of their personal data.

“Customer data rights and privacy are quickly becoming major issues of concern for companies, especially financial institutions, due to new regulations such as EU GDPR, U.K. Open Banking and marketing opportunities,” said Kim Perdikou, CloudScale Partner. “Trunomi enables businesses to comply with these new regulations by demonstrating compliance and accountability in customer data use and immutably proving the legal basis of processing. With Trunomi, businesses can empower their customers with control and transparency in how their data is used and turn regulation from a burden into a competitive advantage.”

“We are thrilled that CloudScale Capital Partners are part of this financing,” said Trunomi CEO Stuart Lacey. “CloudScale brings significant strength to our investor base, and its partners bring with them a wealth of industry connections with the largest players in the global customer and data markets.”

Founded in 2013, Trunomi has offices in Bermuda, Dublin, the U.K., and Silicon Valley. At FinovateEurope 2015 in London, Lacey launched TruMobile, a customer-focused “consent engine” that creates privacy policies to allow the sharing of consumer PII data across platforms. Last March, Trunomi was named to the RegTech top 100 power list. In December of 2016, the company began collaborating with FIS on the E.U. data protection rules.

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Ohpen Raises $31 Million to Support Global Expansion

By David Penn Posted on February 6, 2018
Categories: Funding, Ohpen

Cloud-based core banking technology innovator Ohpen has just sealed a Series C round led by private equity firm Amerborgh that will bring an additional $31 million (€25 million) in funding to the Amsterdam, Netherlands-based fintech. The company said that the investment will help it prepare for expansion into new markets, including the addition of a third headquarters in Germany, France, Canada, Australia, or the United States. The financing takes Ohpen’s total capital raised to $50 million (€40 million), and adds to a $17 million Series B investment the company secured from Amerborgh in July of last year.

“We’re just scratching the surface,” Ohpen founder and CEO Chris Zadeh said. “Ohpen is changing the core banking software industry, advocating a totally digital solution that is based on one version of the platform for all clients and countries.” He added, “This has never been done before; it requires creativity, commitment and also the necessary capital to implement our vision.”

Calling Ohpen’s core banking technology “the future of the core banking industry,” Amerborgh Nederland MD Michel Vrolijk emphasized the company’s ability to turn ideas into action. Vrolijk said the fintech’s ability to execute was “unparalleled” and added that expansion will be a key next step for the company. “Launching the third country is crucial for Ohpen’s strategy and Amerborgh is thrilled to support them at this decisive point in their growth story.”

Founded in 2009, Ohpen demonstrated its core banking platform at FinovateFall 2012. The company sees itself as part of the solution for financial services companies riddled with outdated legacy banking technology. Its core banking engine provides both BPO services and SaaS solutions to banks, insurance companies, and asset managers. With more than 150 employees, the company has offices in the Netherlands, the U.K., and Spain.

Last November, Ohpen announced that De Volksbank, a retail and small business bank in the Netherlands had migrated more than 120,000 investment accounts to Ohpen’s platform. This followed a July partnership with multinational financial giant, Aegon through which the two firms will develop a new platform to support “the full scope of Aegon’s services in the Netherlands.”

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