Funding Archives - Page 68 of 89

CUneXus Closes $5 Million Series A

By Julie Muhn (@julieschicktanz) Posted on August 9, 2016
Categories: CUneXus, Funding

CUneXus, creator of sales and marketing automation solutions for lenders, quietly closed a $5 million funding round late last week. Two investors contributed to the round; both prefer to remain anonymous.

The California-based company’s total raised is now $7 million. Regarding plans for the funding, CUneXus President and CEO Dave Buerger said, “The use of funds is twofold: (1) aggressive growth and the addition of key personnel, and (2) continuous product development and improvement.”

Dave Buerger, CUneXus president and cofounder, and Darin Chong, cofounder, presented at FinovateSpring 2016.

Since launching in 2011, CUneXus has built a host of solutions for online and mobile lending and cross-selling. At FinovateSpring 2016 the company announced its recent partnership with Edmunds.com and showed off AutoXpress, a vehicle purchasing experience that takes place completely online or on mobile. Prior to that, the company demoed features of its Comprehensive Prescreened Lending (CPL) engine, cplXpress, at FinovateSpring 2014 and 2015. The product suite allows banks to extend perpetual loan-approval status across multiple products to their clients.

Buerger noted that this is just the beginning and says that CUneXus has many exciting projects lined up for release in 2017 and beyond: “As enthusiastic as we are about our current product line, our development roadmap is packed with potential and additional opportunities. We’ve really just scratched the surface.”

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Fintech Fundings: 32 Companies Raise $210 Million Second Week of July

By Jim Bruene Posted on August 8, 2016
Categories: Funding

Through mid-July, the blistering pace of deals continued with 32 new fundings during the week ending 15 July 2016. There has been an average of 28 fintech deals per week this year.

The total value of deals this week was $206 million, with half ($100 million) going to Canadian blockchain technology provider Blockchain Intelligence.

Two Finovate alums raised a total of $12 million during the week:

Revolut raised $8.7 million
Alkami landed $3.7 million

The total number of deals YTD stands at 792, nearly double last year’s 407. Total dollars raised YTD is $18.1 billion, more than double the $8.8 billion raised during the same period a year ago.

——-

Fintech deals by size from 9 July to 15 July 2016:

Blockchain Intelligence Group
Blockchain search and analytics
Latest round: $100 million
Total raised: $100 million
HQ: Vancouver, British Columbia, Canada
Tags: SMB, institution, blockchain, crypto-currency, BI, analytics
Source: Crunchbase

Gust
Platform for investing in early-stage startups
Latest round: $14.4 million Debt
Total raised previously: Unknown
HQ: New York City, New York
Tags: SMB, advisers, investors, capital raising
Source: Crunchbase

OK Car Insurance
Online automobile insurance
Latest round: $12 million Series A
Total raised: $14.4 million
HQ: Shangahi, China
Tags: Consumer, insurance, vehicles, autos
Source: Crunchbase

OpenDoor Trading
Treasuries trading platform
Latest round: $10 million
Total raised: $10 million
HQ: Jersey City, New Jersey
Tags: Institutions, advisers, investing, fixed-income
Source: FT Partners

Exporo
Real estate crowdfunding platform
Latest round: $9.1 million Series A
Total raised: $9.1 million
HQ: Hamburg, Germany
Tags: Consumer, credit, loans, underwriting, person-to-person, P2P, investing
Source: Crunchbase

Revolut
Currency exchange platform
Latest round: $8.7 million Series A
Total raised: $13.2 million
HQ: London, England, United Kingdom
Tags: Consumer, SMB, remittances, foreign exchange, payments, funds transfers, fx, mobile, Finovate alum
Source: Finovate

PayJoy
Alt-lender
Latest round: $8.5 million Series A
Total raised: $10.5 million
HQ: Saratoga, California
Tags: Consumer, credit, loans, underwriting, purchase finance, merchants, payments
Source: Crunchbase

WeSwap
P2P currency exchange
Latest round: $8.4 million Series B
Total raised: $18.5 million
HQ: London, England, United Kingdom
Tags: Consumer, person-to-person, P2P, prepaid debit card, fx, foreign exchange
Source: Crunchbase

Amber Financial Services
Consumer alt-lender
Latest round: $5 million Seed
Total raised: $5 million
HQ: Richmond, British Columbia, Canada
Tags: Consumer, credit, loans, underwriting, alternative lender
Source: Crunchbase

Ingo Money (formerly Chexar Networks)
Check decisioning and funding
Latest round: $4 million
Total raised: $19.1 million
HQ: Roswell, Georgia
Tags: Institutions, SMB, B2B2C, checks, authorization, credit, underwriting, deposits
Source: Crunchbase

Alkami Technology
Digital banking technology
Latest round: $3.7 million
Total raised: $46.7 million
HQ: Plano, Texas
Tags: Institutions, digital banking, Finovate alum
Source: Crunchbase

Quilt
Digital renter’s insurance
Latest round: $3.25 million Seed
Total raised: $3.25 million
HQ: Boston, Massachusetts
Tags: Consumer, insurance, renters, property & casualty, P&C
Source: Crunchbase

Compliance Science
Compliance platform for financial institutions
Latest round: $2.9 million
Total raised: $11.2 million
HQ: New York City, New York
Tags: Institutions, compliance, regulations
Source: FT Partners

Digitzs
Digital payments platform
Latest round: $2.8 million Equity Crowdfunding
Total raised: $5,4 million
HQ: Santa Monica, California
Tags: Consumer, payments, debit/credit cards, merchants, API, developers
Source: Crunchbase

BankerBay
Investment banking platform
Latest round: $2 million Convertible Note
Total raised: $5 million
HQ: Bangalore, India
Tags: Institutions, SMB, capital raising, venture capital, VC
Source: Crunchbase

Touche
Mobile payments platform
Latest round: $2 million
Total raised: $2 million
HQ: Singapore
Tags: SMB, payments, client platform, point of sales, POS
Source: FT Partners

MoneyBox
Savings and investing app
Latest round: $1.75 million Seed
Total raised: $4.75 million
HQ: London, England, United Kingdom
Tags: Consumer, savings, deposits, spending, investing, personal financial management, PFM, mobile
Source: Crunchbase

Settled
Home buying platform
Latest round: $1.33 million Seed
Total raised: $1.75 million
HQ: London, England, United Kingdom
Tags: Consumer, real estate, discovery, mortgage, comparison
Source: Crunchbase

Switch
Lost/stolen credit and debit card solution
Latest round: $1.2 million
Total raised: $1.2 million
HQ: Seattle, Washington
Tags: Consumer, payments, credit/debit cards, security, convenience
Source: Crunchbase

TagPay
Sound-based payment and banking technology
Latest round: $1.1 million Seed
Total raised: $1.1 million
HQ: Paris, France
Tags: SMB, merchants, payments, acquiring, mobile banking, core system
Source: Crunchbase

InvestiQuant (formerly Master the Gap)
Investment and trading technology
Latest round: $1.0 million
Total raised: $3.3 million
HQ: Morrisville, North Carolina
Tags: Consumer, advisers, traders, investing, stocks
Source: Crunchbase

Plutus
Bitcoin-based mPOS technology
Latest round: $1 million
Total raised: $1 million
HQ: London, England, United Kingdom
Tags: SMB, merchants, credit/debit cards, acquiring, bitcoin, crypto-currency, blockchain, point of sale
Source: FT Partners

CirraGroup
Crowdsourced medical debt settlement
Latest round: $500,000
Total raised: $500,000
HQ: Layfayette, Lousiana
Tags: Consumer, SMB, credit, debt repayment
Source: FT Partners

CreditExchange
Consumer loan marketplace
Latest round: $500,000 Seed
Total raised: $500,000
HQ: Bangalore, India
Tags: Consumer, credit, loans, underwriting, person-to-person, P2P, investing
Source: Crunchbase

SoCash
Mobile cash finder
Latest round: $400,000 Seed
Total raised: $400,000
HQ: Singapore
Tags: Consumer, merchants, ATM, cash-back, mobile
Source: Crunchbase

Safello
Bitcoin exchange
Latest round: $300,000
Total raised: $1.3 million
HQ: Stockholm, Sweden
Tags: Consumer, cyrpto-currency, bitcoin, blockchain, payments, remittances
Source: Crunchbase

CrediWire
Commercial credit ratings
Latest round: $28,000
Total raised: $68,000
HQ: Copenhagen, Denmark
Accelerator: TechFounders
Tags: Institutions, underwriting, commercial lending, loans, information, BI, API
Source: Crunchbase

Quantoz
Blockchain technology
Latest round: $28,000
Total raised: $28,000
HQ: The Netherlands
Accelerator: TechFounders
Tags: Institutions, SMB, payments, cyrpto-currency, bitcoin
Source: Crunchbase

SayPay Technologies
Authentication technology
Latest round: $28,000
Total raised: $28,000
HQ: Pleasanton, California
Accelerator: TechFounders
Tags: Institutions, security, authentication, voice biometrics, payments, mobile
Source: Crunchbase

Blocko (Coinstack)
Blockchain technology
Latest round: Unknown
Total raised: Unknown
HQ: Seoul, South Korea
Tags: SMB, institutions, blockchain, database, crypto-currency
Source: FT Partners

GyanDhan
Education loans marketplace
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: New Delhi, India
Tags: Consumer, credit, loans, underwriting, person-to-person, P2P, investing
Source: Crunchbase

SETL
Blockchain-based institutional funds transfer and settlement
Latest round: Undisclosed
Total raised: Unknown
HQ: London, England, United Kingdom
Tags: Institutions, payments, funds transfer, blockchain, bitcoin, crypto-currency
Source: FT Partners

———–
Image licensed from 123RF Stock Photo

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Fintech Fundings: 23 Companies Raise $530 Million Week Ending July 8

By Jim Bruene Posted on August 5, 2016
Categories: Funding

money_key In a holiday-shortened week in the United States, 23 deals were announced that brought in a total of $527 million. Most ($449 million) went to Chinese payment and investment platform, Qufenqi.

Four Finovate alums raised a total of $18 million during the week:

Coinbase landed $10.5 million from Bank of Tokyo
P2Binvestor raised $5.1 million
StockTwits raised $2 million
Spiff raised $150,000

The total number of deals YTD stands at 760, nearly double last year’s 386. Total dollars raised YTD is $17.9 billion, more than double the $8.5 billion raised during the same period a year ago.

——-

Fintech deals by size from 2 July to 8 July 2016:

Qufenqi
Installment payment and investment platform
Latest round: $449 million Series F
Total raised: $874 million
HQ: Beijing, China
Tags: Consumer, investing, loans, credit, ecommerce, investing, payments
Source: Crunchbase

Neogrowth
Alt-lender to small businesses
Latest round: $35 million
Total raised: $36.6 million
HQ: Mumbai, India
Tags: SMB, commerical loans, credit, underwriting
Source: FT Partners

Coinbase
Bitcoin exhange and wallet
Latest round: $10.5 million
Total raised: $117.2 million
HQ: San Francisco, California
Tags: Consumer, traders, payments, funds transfer, remittances, bitcoin, crypto-currency, Bank of Tokyo (investor), Finovate alum
Source: Crunchbase, Finovate

P2Binvestor
Receivables financing marketplace
Latest round: $5.1 million
Total raised: $6.5 million
HQ: Denver, Colorado
Tags: SMB, trade finance, factoring, accounts receivable, working capital, commercial credit, underwriting, investing, crowdsourced, Finovate alum
Source: Crunchbase

Finanzchef24
Online broker
Latest round: $4.5 million
Total raised: $12.6 million
HQ: Munich, Germany
Tags: Consumer, advisers, traders, investing, wealth management, trading, person-to-person, P2P
Source: Crunchbase

Lending Works
P2P lending platform
Latest round: $3.9 million Series A
Total raised: $9.65 million
HQ: London, England, United Kingdom
Tags: Consumer, credit, loans, underwriting, person-to-person, P2P, investing
Source: Crunchbase

SmartAngels.fr
Equity crowdfunding platform
Latest round: $3.9 million
Total raised: $5.3 million
HQ: Paris, France
Tags: SMB, investing, fundraising, capital, venture capital (VC), angel investing
Source: Crunchbase

Netki
Blockchain titles
Latest round: $3.5 million Seed
Total raised: $3.5 million
HQ: Woodland Hills, California
Tags: Consumer, SMB, blockchain, digital identity
Source: Crunchbase

Airwallex
International invoice payments
Latest round: $3 million Seed
Total raised: $3 million
HQ: Melbourne, Australia
Tags: SMB, foreign exchange, billing, invoices, payments
Source: Crunchbase

EarnUp
Consumer debt management tool
Latest round: $3 million Seed
Total raised: $3 million
HQ: San Francisco, California
Accelerator: Financial Solutions Lab (CFSI)
Tags: Consumer, debt/loan payments, credit, personal financial management, PFM

Source: Crunchbase

StockTwits
Stock information and communication platform
Latest round: $2 million
Total raised: $13.9 million
HQ: New York City, New York
Tags: Consumer, advisers, traders, investing, trading, communications, information, Finovate alum
Source: Finovate

OB1 (division of OpenBazaar)
Stealth bitcoin payments
Latest round: $1.5 million
Total raised: $1.5 million
Tags: SMB, ecommerce, merchants, crypto-currency, blockchain
Source: Crunchbase

Drop
Multimerchant credit/debit card loyalty program
Latest round: $775,000
Total raised: $775,000
HQ: Toronto, Ontario, Canada
Tags: Consumer, rewards, cards, loyalty, payments, spending
Source: Crunchbase

Gatecoin
Crypto-currency exchange
Latest round: $500,000
Total raised: $500,000
HQ: Hong Kong
Tags: Consumer, traders, payments, funds transfer, remittances, bitcoin, crypto-currency, blockchain
Source: Crunchbase

The Oak
Financial wellness coach
Latest round: $300,000
Total raised: $300,000
HQ: London, England, United Kingdom
Tags: Consumer, personal financial management, PFM, service, information, advice
Source: Crunchbase

Spiff
Social savings platform
Latest round: $150,000
Total raised: $150,000
HQ: Oslo, Norway
Tags: Consumer, savings accounts, investing, youth market, personal financial management, PFM, spending, Finovate alum
Source: Finovate

Vestvise
Investment information site
Latest round: $6,000 Angel
Total raised: $6,000
HQ: New York City, New York
Tags: Consumer, advisers, traders, investing, wealth management, trading, information, analytics, reporting
Source: Crunchbase

Bolanegruppen
Mortgage price negotiation service
Latest round: Undisclosed
Total raised: Unknown
HQ: Stockholm, Sweden
Tags: Consumer, price comparison, mortgage
Source: Crunchbase

Crowdsurfer
Analytics on crowd finance
Latest round: Undisclosed
Total raised previously: $340,000
HQ: Cambridge, England, United Kingdom
Tags: Consumer, traders, payments, funds transfer, remittances, bitcoin, crypto-currency, blockchain
Source: Crunchbase

OneAssist
Credit card & mobile payments fraud protection
Latest round: Undisclosed
Total raised: $9.25 million
HQ: Mumbai, India
Tags: Consumers, mobile payments, credit/debit cards, security, fraud protection
Source: Crunchbase

Salarium
Payroll automation platform
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Manilla, Phillipines
Tags: SMB, payroll, payments, HR, employee benefits
Source: Crunchbase

SBI Japannext
Online brokerage and trading system
Latest round: Not disclosed
Total raised: Unknown
HQ: Tokyo, Japan
Tags: Institutions, traders, investing, trading, exchange
Source: FT Partners

Wealthtrust
Investment manager
Latest round: Undisclosed
Total raised: Unknown
HQ: Mumbai, India
Tags: Consumer, advisers, traders, investing, wealth management, trading, mobile
Source: Crunchbase

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Fintech Fundings: 186 Companies Raised $1.6 Billion in June

By Jim Bruene Posted on August 1, 2016
Categories: Funding

pig_sunglasses_money_cropped Second quarter 2016 closed with a frenzy of fintech fundings: 49 deals were announced the last week alone, 10 more than the previous weekly record. The total amount raised was $327 million across 34 fundings with announced amounts (15 deals had undisclosed amounts). Of the total, $61.5 million was debt.

Four Finovate alums raised a total of $77 million during the week:

Total fundings worldwide in June: $1.6 billion from 186 deals compared to May which totaled $1.7 billion across 113 deals. (Note: Due to our weekly tracking methodology, there was an additional week in the June total.)

The weekly details can be found through the following links:

49 companies raised $327 million the last week of July 1 (see below)
26 companies raised $280 million week ending June 25
35 companies raised $470 million week ending June 18
38 companies raised $220 million week ending June 11
38 companies raised $300 million week ending June 4

The total number of deals YTD stands at 737, double last year’s 371. Total dollars raised YTD is now $17.4 billion, more than double the $8.4 billion more raised during the same period a year ago.

——-

Fintech deals by size from 25 June to 1 July 2016:

Paycor
Online payroll system
Latest round: $45 million
Total raised: $164 million
HQ: Cincinnati, Ohio
Tags: SMB, payroll, employers, HR management, employee benefits, salary, payments
Source: FT Partners

Klarna
Ecommerce solution provider
Latest round: $35 million Debt
Total raised: $327 million ($291 million equity, $36 million debt)
HQ: Sweden
Tags: SMB, merchants, ecommerce, B2B2C, payments, Finovate alum
Source: Crunchbase, Finovate

Nvest
Crowd-sourced stock-recommendation platform
Latest round: $33 million Series D
Total raised: $60.15 million
HQ: Toronto, Ontario, Canada
Tags: Consumer, advisers, traders, investing, wealth management, trading
Source: Crunchbase

LendingKart
Alt-lender to small businesses
Latest round: $32 million Series B
Total raised: $42 million
HQ: Ahmedabad, India
Tags: SMB, lending, commercial credit, underwriting, loans
Source: Crunchbase

West Creek Financial
Consumer purchase financing
Latest round: $28.5 million ($3.5 million Equity, $25 million Debt)
Total raised: $28.5 million
HQ: Glen Allen, Virginia
Tags: SMB, B2B2C, lending, credit, underwriting, POS, point-of-sale
Source: Crunchbase

Bizfi
Alt-lending to small businesses
Latest round: $20 million
Total raised: $20 million
HQ: New York City, New York
Tags: SMB, lending, commercial credit, underwriting, Finovate alum
Source: Crunchbase, Finovate

Goji (formerly Consumers United)
Consumer insurance portal
Latest round: $19 million
Total raised: $89 million
HQ: Boston, Massachusetts
Tags: Automobile insurance, home insurance, life insurance, membership, price quotes, price comparison, lead gen
Source: FT Partners

D3 Banking
Banking platform
Latest round: $16.4 million
Total raised: $33.4 million
HQ: Omaha, Nebraska
Tags: Institutions, B2B2C, digital banking, small business, Finovate alum
Source: Crunchbase, Finovate

SpotCap (Rocket Internet)
Alt-lender to small businesses
Latest round: $14.4 million Series C
Total raised: $66.2 million
HQ: Berlin, Germany
Tags: SMB, lending, commercial credit, underwriting
Source: Crunchbase

Storm
Payment and trade finance for microbusinesses
Latest round: $13.2 million Series A
Total raised: $16.1 million
HQ: Barcelona, Spain
Tags: SMB, merchants, point-of-sale, ecommerce, acquiring, payments, credit/debit cards, trade finance, inventory management, BI
Source: Crunchbase

Avoka
Digital sales and account opening
Latest round: $12 million
Total raised: $12 million
HQ: Sydney, Australia; Broomfield, Colorado
Tags: Institutions, sales, marketing, online account opening, Finovate and FinDEVr alum
Source: Finovate

i3 Verticals
Payment processing
Latest round: $10 million
Total raised: $10 million
HQ: Nashville, Tennessee
Tags: SMB, merchants, payments, credit/debit cards, acquiring
Source: FT Partners

ForUsAll
401(k) platform
Latest round: $9.5 million Series A
Total raised: $12.84 million
HQ: San Francisco, California
Tags: Consumer, SMB, saving, investing, human resources, employee benefits, employers
Source: Crunchbase

Final
Credit card with consumer controls
Latest round: $8 million Series A
Total raised: $9.1 million
HQ: California
Accelerator: Y Combinator
Tags: Consumer, lending, credit, credit/debit cards, spending controls, security
Source: Crunchbase

DV01
Marketplace lending analytics
Latest round: $7.5 million Seed
Total raised: $7.5 million
HQ: New York City, New York
Tags: Institutions, advisers, analytics, BI, lending, loans, securitization
Source: FT Partners

SMACC
Online accounting
Latest round: $3.9 million
Total raised: $3.9 million
HQ: Potsdam, Germany
Tags: SMB, accounting, bookkeeping, billing
Source: Crunchbase

TransferGo
International funds transfers
Latest round: $3.4 million Series A
Total raised: $6.1 million
HQ: London, England, United Kingdom
Tags: Consumer, SMB, funds transfer, remittances, foreign exchange, FX
Source: Crunchbase

Apruve
Trade finance and payments platform
Latest round: $3.1 million Series A
Total raised: $3.5 million
HQ: Minneapolis, Minnesota
Tags: Consumer, lending, peer-to-peer, credit, underwriting, investing
Source: Crunchbase

ProducePay
Payment solutions for the fresh-produce industry
Latest round: $2.5 million Seed
Total raised: $3.9 million
HQ: Los Angeles, California
Tags: SMB, payments, credit, underwriting, trade finance, factoring, agriculture
Source: Crunchbase

Zirra
Crowd-sourced investment rating service
Latest round: $1.6 million Series A
Total raised: $2.3 million
HQ: Tel Aviv, Israel
Tags: Consumer, investing, advisers, wealth management, information, analytics, crowdsourcing
Source: Crunchbase

Payzer
Mobile payment and financing platform for field sales
Latest round: $1.5 million Debt
Total raised: Unknown
HQ: Charlotte, North Carolina
Tags: SMB, lending, credit, underwriting, payments, point-of-sale, mobile, trade finance
Source: Crunchbase

TrueBill
Recurring bill management
Latest round: $1.4 million Seed
Total raised: $1.75 million
HQ: San Francisco, California
Accelerator: Y Combinator
Tags: Consumer, billpay, personal financial management, PFM, budgeting, spending, credit/debit cards
Source: Crunchbase

FundedByMe
Equity crowdfunding platform
Latest round: $1.3 million
Total raised: $1.3 million
HQ: Stockholm, Sweden
Tags: SMB, capital raising, VC, venture capital, p2p, peer-to-peer, investing
Source: Crunchbase

Flip
P2P apartment-leasing marketplace
Latest round: $1.2 million Seed
Total raised: $1.3 million
HQ: New York City, New York
Tags: Consumer, housing, rentals, marketplace
Source: Crunchbase

LeaseAccelerator
Equipment lease management software
Latest round: $1.2 million Series
Total raised: $7.1 million
HQ: Great Falls, Virginia
Tags: SMB, entrerprise, leasing, accounting, management, compliance
Source: Crunchbase

Tribe Insurance
Social insurance
Latest round: $1 million Seed
Total raised: $1 million
HQ: Oslo, Norway
Tags: Consumer, insurance, peer-to-peer, P2p
Source: Crunchbase

Amodo
Customer platform for insurers
Latest round: $500,000 Seed
Total raised: $536,000
HQ: Zagreb, Croatia
Tags: Institutions, B2B2C, insurance, customer service, CRM
Source: Crunchbase

Cindicator
Crowd-forecasting future events for financial markets
Latest round: $250,000 Convertible Note
Total raised: $270,000
HQ: New York City, New York
Tags: Institutions, advisers, traders, investing, wealth management, trading
Source: Crunchbase

Tabster
Mobile POS system for hospitality industry
Latest round: $250,000 Convertible Note
Total raised: $250,000
HQ: Amsterdam, The Netherlands
Tags: SMB, merchants, payments, acquiring, credit/debit cards, mobile
Source: Crunchbase

Factom
Blockchain technology
Latest round: $200,000
Total raised: $3.3 million
HQ: Austin, Texas
Tags: SMB, blockchain, distributed ledger, database, security
Source: FT Partners

ValChoice
Car insurance portal
Latest round: $120,000 (Microsoft BizSpark Plus Award)
Total raised: $620,000
HQ: Bedford, New Hampshire
Tags: Autombile insurance, price quotes, price comparison, lead generation
Source: FT Partners

BanQu
Blockchain-based identity for the unbanked
Latest round: $100,000 Convertible Note
Total raised: $100,000
HQ: Minneapolis, Minnesota
Tags: Consumer, blockchain, financial inclusion, unbanked, underbanked, banking, security, identity
Source: Crunchbase

Taplend
P2P mobile lending platform
Latest round: $83,000 Seed
Total raised: $203,000
HQ: Kiev, Ukraine
Accelerator: SellaLab (Italy)/Level 39 (London)
Tags: Consumer, lending, peer-to-peer, credit, underwriting, investing
Source: Crunchbase

Daalder
Mobile payments platform
Latest round: $55,000 Convertible Note
Total raised: $500,000
HQ: Amsterdam, The Netherlands
Tags: Consumer, payments, mobile, credit/debit cards
Source: Crunchbase

ExtractAlpha
Investment tools for institutional investors
Latest round: Undisclosed Seed
Total raised: $41,000 (prior to most recent funding)
HQ: Hong Kong, China
Tags: Institutions, advisers, investing, wealth management, trading, information, analytics
Source: Crunchbase

Hello Tax
Income tax preparation app
Latest round: Undisclosed
Total raised: Unknown
HQ: New Delhi, India
Tags: Consumer, tax prep
Source: Crunchbase

Insurity
Insurance management platform
Latest round: Undisclosed Private Equity
Total raised: $49.75 million (prior to above)
HQ: Hartford, Connecticut
Tags: Institutions, insurance, management, analytics, BI
Source: Crunchbase

Karlo Compare
Financial services portal
Latest round: Undisclosed
Total raised: Unknown
HQ: Karachi, Pakistan
Tags: Consumer, lending, banking, loans, credit cards, quotes, price comparison, discovery, lead gen
Source: Crunchbase

LIQID Investments
Wealth management and digital family-office platform
Latest round: Undisclosed
Total raised: Unknown
HQ: Berlin, Germany
Tags: Advisers, wealth managers, investing, trading, retirement
Source: Crunchbase

Loansolutions.ph
Consumer loan portal
Latest round: Undisclosed
Total raised: Unknown
HQ: Cebu City, Philippines
Tags: Consumer, lending, peer-to-peer, credit, underwriting, investing
Source: Crunchbase

LoanStreet
Loan portal
Latest round: Undisclosed
Total raised: Unknown
HQ: Kuala Lumpur, Malaysia
Tags: Consumer, lending, price comparison, lead gen, discovery
Source: Crunchbase

Moneybay
Foreign exchange rate portal
Latest round: Undisclosed
Total raised: Unknown
HQ: Malaysia
Tags: Consumer, payments, FX, remittances, lead gen, price comparison
Source: Crunchbase

Musoni System
Banking software for microfinance organizations
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Amsterdam, The Netherlands
Tags: Institutions, SMB, lending, credit, underwriting, microfinance
Source: Crunchbase

MyCashOnline
Online banking services for migrants
Latest round: Undisclosed
Total raised: Unknown
HQ: Selangor, Malaysia
Tags: Consumer, payments, remittances, deposits, billpay, ecommerce
Source: Crunchbase

November First
International payments and transfers
Latest round: Undisclosed
Total raised: Unknown
HQ: Copenhagen, Denmark
Tags: Consumer, SMB, foreign exchange, FX, remittances, payments, peer-to-peer, P2P, foreign trade
Source: Crunchbase

Razorpay
Online payment gateway
Latest round: Undisclosed
Total raised: $11.6 million
HQ: Bangalore, India
Tags: SMB, payment processing, credit/debit cards, acquiring, merchants, mobile
Source: Crunchbase

Rundit
Revenue-based lending
Latest round: Undisclosed
Total raised: Unknown
HQ: Finland
Tags: SMB, lending, credit, underwriting, commercial loans, crowdfunding, P2P, investing
Source: Crunchbase

Scripbox
Online mutual fund investment platform
Latest round: Undisclosed Series B
Total raised: $2.5 million (prior to Series B)
HQ: Bangalore, India
Tags: Consumer, advisers, traders, investing, wealth management, funds
Source: Crunchbase

Surance
Retirement savings platform
Latest round: Undisclosed
Total raised: Unknown
HQ: Amsterdam, The Netherlands
Tags: Consumer, savings accounts, investing, retirement planning, wealth management
Source: FT Partners

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Quantopian Receives Undisclosed Amount from Steve Cohen’s Point72

By Julie Muhn (@julieschicktanz) Posted on July 27, 2016
Categories: Funding, Quantopian

Browser-based algorithmic trading platform Quantopian today received a boost from Point72, Steve Cohen’s asset management company. The company’s venture arm invested an undisclosed amount in the Boston-based company, adding to Quantopian’s $23.8 million in funding and marking one of the first investments for Point72 Ventures.

This news comes after last month’s announcement that Quantopian’s hedge fund is open to outside investors. Cohen, traditionally a fundamentals-based trader (not a quant), is leveraging this newly launched capability by investing up to $250 million in a portfolio of Quantopian-managed algorithms.

This is good news for Quantopian’s users who build and license their algorithms through the company’s website. Its 85,000 users in 180 countries have created 400,000+ algorithms, 10 of which the company has selected to use for trading purposes.

As Quantopian reports in a blog post, “With these new funds to manage we will be able to make larger allocations to more algorithms selected from our community. Licensed algorithm authors earn a royalty of 10% of the net profits generated by their algorithm.” Therefore, the larger the allocation, the larger the royalty payment.

Founded in 2011, Quantopian CEO John Fawcett and CTO Jean Bredeche debuted Quantopian Live Trading at FinovateSpring 2013. Last month the company added new chief investment and compliance officers before opening its hedge fund to outside investors.

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Fintech Fundings: 26 Companies Raise $280 Million in 4th Week of June

By Jim Bruene Posted on July 21, 2016
Categories: Funding

It was a huge week in German fintech funding, coinciding with, but too soon to be caused by, Brexit. Eight of the 26 global deals were German with five out of Berlin, one from Frankfurt (Finovate alum ayondo), and one in Koln. The total raised by the eight was at least $60 million (although two raised undisclosed amounts). Digital startup bank Number26 pulled in the bulk of that figure by landing a massive $40 million round.

All told, 26 fintech companies worldwide raised $281 million during the third week of June, including five Finovate alums:

Plaid landed $44 million from Goldman Sachs
Socure received a major investment from Santander
ayondo completed a reverse IPO valued at $117 million
Payfone landed $2.7 million as the first part of a larger round

The total number of deals YTD stands at 688, nearly double last year’s 353. Total dollars raised YTD is now $17.1 billion, $9 billion more than the $8 billion raised during the same period a year ago.

——-

Fintech deals by size from 18 June to 24 June 2016:

Circle
Global money-movement and -storage platform
Latest round: $60 million Series D
Total raised: $136 million
HQ: Dublin, Ireland
Tags: Consumer, payments, funds transfers, remittances, bitcoin, crypto-currency
Source: Crunchbase

Plaid
Account aggregation APIs
Latest round: $44 million Series B
Total raised: $59.3 million
HQ: San Francisco, California
Tags: Consumer, institutions, SMBs, developers, API, payments, account aggregation, FinDEVr alum
Source: FinDEVr

Number26
Digital bank startup
Latest round: $40 million Series B
Total raised: $52.7 million
HQ: Berlin, Germany
Tags: Consumer, payments, debit card, deposits, mobile banking
Source: Crunchbase

Waddle
Invoice lender to small businesses
Latest round: $30 million Debt
Total raised: $30+ million
HQ: Surry Hills, Australia
Tags: SMB, lending, underwriting, alt-lending, factoring, trade finance, receivables
Source: Crunchbase

Pearl Capital
Alt-lender to small businesses
Latest round: $20 million
Total raised: $20 million
HQ: New York City
Tags: ISOs, SMB, lending, merchants, commercial loans, underwriting
Source: Crunchbase, PE Hub

Quoine
Bitcoin exchange
Latest round: $20 million Series A
Total raised: $20 million
HQ: Singapore
Tags: Consumer, bitcoin, crypto-currency, virtual currency, investing
Source: FT Partners

Plastiq
Check replacement for bills
Latest round: $11 million
Total raised: $29.35 million
HQ: San Francisco, California
Tags: Consumer, payments, credit cards, billpay, credit, merchants, billers
Source: Crunchbase

Colu
Creating local currencies using blockchain technology
Latest round: $9.6 million Series A
Total raised: $12.1 million
HQ: Tel Aviv, Israel
Tags: Consumer, payments, bitcoin, blockchain, P2P, person-to-person
Source: Crunchbase

McMakler
Real estate platform
Latest round: $9.36 million Series A
Total raised: $9.36 million
HQ: Berlin, Germany
Tags: Consumer, home buying, property search, mortgage, discovery
Source: FT Partners

OptioPay
Gift-card payment network
Latest round: $7.92 million Seed
Total raised: $7.92 million
HQ: Berlin, Germany
Tags: Consumer, P2P payments, person-to-person, rewards, gift cards, prepaid cards, funds transfer
Source: Crunchbase

Digital Asset Holdings
Distributed ledger systems for financial institutions
Latest round: $7.16 million from ASX ($200 million valuation)
Total raised: $67.2 million
HQ: New York City, New York
Tags: Institutions, blockchain, crypto-currency, database
Source: FT Partners

BankFacil
Alt-lending marketplace for consumers
Latest round: $4.5 million Series A
Total raised: $8.9 million
HQ: Sao Paulo, Brazil
Tags: Consumer, lending, underwriting, alt-lending, loans, secured lending, lead generation
Source: Crunchbase

Apruve
B2B ecommerece credit management
Latest round: $3.1 million Series A
Total raised: $3.1 million
HQ: Minneapolis, Minnesota
Tags: SMB, lending, underwriting, trade finance, B2B ecommerce
Source: FT Partners

AppZen
Expense compliance system
Latest round: $2.9 million Seed
Total raised: $2.9 million
HQ: Sunnyvale, California
Tags: SMB, expense management, employees, accounting, bookkeeping, fraud detection, risk management
Source: Crunchbase

Payfone
Online identity and payment services
Latest round: $2.66 million
Total raised: $48.7 million
HQ: New York City, New York
Tags: Consumer, SMB, merchants, security, authentication, Finovate alum
Source: FT Partners

Loot
Banking & money management for students
Latest round: $2.17 million
Total raised: $2.17 million
HQ: London, England, United Kingdom
Tags: Consumer, banking, youth, millennials, payments, personal financial management, PFM, financial education
Source: Crunchbase

Savedo
Retail investment product marketplace
Latest round: $2 million
Total raised: $7.6 million
HQ: Berlin, Germany
Tags: Consumer, lending, underwriting, alt-lending, loans, personal financial management, P2P, person-to-person
Source: Crunchbase

Invesdor
Equity crowdfunding platform
Latest round: $1.3 million Equity Crowdfunding
Total raised: $3.45 million
HQ: Helsinki, Finland
Tags: Consumer, SMB, investing, P2P, peer-to-peer, equity
Source: Crunchbase

RevolutionCredit
Consumer credit education
Latest round: $922,000 Debt
Total raised: $6.62 million ($5.7 million Equity)
HQ: Irvine, California
Tags: Consumer, personal finance, financial education, credit, lead generation
Source: Crunchbase

iSENTIUM
Sentiment analysis for capital markets
Latest round: $810,000
Total raised: $810,000
HQ: Miami, Florida
Tags: Institutions, traders, investing, analytics, information, social media
Source: FT Partners

ayondo
Social stock-trading platform
Latest round: Unknown amount of new capital in Reverse IPO ($117 million value)
Total raised: Unknown
HQ: Frankfurt, Germany
Tags: Consumer, advisers, wealth management, trading, investing
Source: Finovate

Socure
Digital identity verification
Latest round: Undisclosed
Total raised: $4.7+ million
HQ: New York City, New York
Tags: Institutions, B2B2C, social media, security, compliance, Santander (investor), Finovate alum
Source: Finovate

MoneyMeets
Investment and insurance marketplace
Latest round: Undisclosed
Total raised: $1.73+ million
HQ: Koln, Germany
Tags: Consumer, investing, insurance, lead generation, discovery
Source: Crunchbase

Processing.com
Payments solutions provider
Latest round: Undisclosed
Total raised: Unknown
HQ: Watford, United Kingdom
Tags: SMB, ISOs, merchants, acquiring, payments, debit/credit cards
Source: FT Partners

Simplesurance
Insurance products for ecommerce partners
Latest round: Undisclosed
Total raised: $8+ million
HQ: Berlin, Germany
Tags: Consumer, B2B2C, insurance, upsell, ecommerce
Source: Crunchbase

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Fintech Fundings: 35 Companies Raise $470 Million the Third Week of June

By Jim Bruene Posted on July 20, 2016
Categories: Funding

For the third week in a row, the number of deals flirted with the single-week record of 39. This week, 35 fintech companies worldwide raised $469 million the second week of June. Included were three Finovate alums:

Cachet Financial Systems recorded a $2.55 million convertible note to further its remote deposit business
StockTwits took in $2 million for its trading information platform
Sezzle grabbed $500,000 to enhance its pay-by-bank-transfer service

The total number of deals YTD stands at 662, double last year’s 338. Total dollars raised YTD is now $16.8 billion, $9 billion more than the $7.8 billion raised during the same period a year ago.

——-

Fintech deals by size from 11 June to 17 June 2016:

Fenqile
Consumer microlender
Latest round: $235 million Series D
Total raised: $335 million
HQ: Shenzen, China
Tags: Consumer, lending, underwriting, alt-lending, purchase finance, ecommerce, installment loans
Source: FT Partners

Payoff
Credit card payoff loans
Latest round: $46.76 million Series C
Total raised: $71.56 million
HQ: Costa Mesa, California
Tags: Consumer, lending, underwriting, alt-lending, loans, personal financial management
Source: Crunchbase

Shanghai Suntime Information Technology
Financial data provider
Latest round: $35 million ($140 million valuation)
Total raised: $35 million
HQ: Shanghai, China
Tags: Institutions, investing, trading, information, analytics, Ant Financial (investor)
Source: FT Partners

Better Mortgage
Mortgage lender
Latest round: $30 million Series A
Total raised: $30 million
HQ: New York City, New York
Tags: Consumer, lending, home buying, real estate purchase
Source: Crunchbase

LEAGUE
Digital health insurance platform
Latest round: $25 million Series A
Total raised: $25 million
HQ: Wilmington, Delaware
Tags: SMB, consumer, healthcare, benefits, insurance, health savings accounts, billing, payments
Source: FT Partners

FinLeap
Fintech company builder
Latest round: $23.6 million Series A
Total raised: $23.6 million
HQ: Berlin, Germany
Tags: SMB, banking, insurance, payments
Source: Crunchbase

ClearTax (ClearSharp Technology)
Income tax prep
Latest round: $12 million Series A
Total raised: $15.4 million
HQ: New Delhi, India
Tags: Consumer, tax preparation
Source: Crunchbase

PromisePay
Payments for marketplaces
Latest round: $10 million Series A
Total raised: $12.25 million
HQ: Collingwood, Australia
Tags: SMB, payments, mobile, credit/debit cards, POS, point-of-sale, acquiring, merchants
Source: Crunchbase

Tapp Commerce
Alt-payments
Latest round: $9 million Series A
Total raised: $9 million
HQ: Turku, Finland
Tags: Consumer, payments, mobile, ecommerce, barter, virtual currency, bitcoin, P2P, person to person
Source: Crunchbase

Overbond
Bond issuing platform
Latest round: $7.5 million Seed
Total raised: $7.5 million
HQ: Toronto, Ontario, Canada
Tags: Enterprise, SMB, investing, fixed income
Source: Crunchbase

Software Group
Banking and payments software
Latest round: $5.6 million
Total raised: $5.6 million
HQ: Sofia, Bulgaria
Tags: Institutions, banking, payments, lending
Source: FT Partners

Greytip Software
Cloud-based HR and payroll
Latest round: $5.21 million
Total raised: $5.21 million
HQ: Bangalore, India
Tags: SMB, payments, payroll, HR benefits, employees, insurance
Source: FT Partners

Huddle Money
P2P financial platform
Latest round: $4.4 million Seed
Total raised: $4.4 million
HQ: Sydney, Australia
Tags: Consumer, lending, peer-to-peer, P2P, credit, underwriting, insurance, payments, funds transfer
Source: Crunchbase

Bipsync
Research management software for investors
Latest round: $4.2 million
Total raised: $5.7 million
HQ: Palo Alto, California
Tags: Advisers, institutions, investment information
Source: FT Partners

Invoice Cycle
Invoice-backed lender
Latest round: $4 million Seed
Total raised: $4 million
HQ: London, England, United Kingdom
Tags: SMB, lending, underwriting, trade finance, factoring, alt-lender
Source: Crunchbase

Cachet Financial Solutions
Remote deposit capture
Latest round: $2.55 million Convertible Note
Total raised: $26.86 million
HQ: Minneapolis, Minnesota
Tags: Institutions, B2B2C, mobile, deposit, checking accounts, Finovate alum
Source: Crunchbase

CardsMobile
NFC-based mobile payments
Latest round: $2.5 million
Total raised: $2.5 million
HQ: St. Petersburg, Russia
Tags: Consumer, SMB, merchants, mobile, payments, acquiring
Source: Crunchbase

StockTwits
Investment information platform
Latest round: $2 million
Total raised: $14.4 million
HQ: Phoenix, Arizona
Tags: Consumer, investing, information, trading
Source: Finovate

MarketLend
P2P trade finance loans
Latest round: $1 million
Total raised: $1 million
HQ: Sydney, Australia
Tags: SMB, lending, peer-to-peer, P2P, credit, underwriting, investing, factoring, invoice loans
Source: Crunchbase

Valiant Finance
Business loan marketplace
Latest round: $590,000 Seed
Total raised: $590,000
HQ: Sydney, Australia
Tags: SMB, lending, commercial loans, price comparison, lead generation
Source: Crunchbase

Symbid
Equity crowdfunding platform
Latest round: $550,000 Debt
Total raised: $550,000 Debt
HQ: Rotterdam, The Netherlands
Tags: Consumer, SMB, peer-to-peer, P2P, investing, stock ownership
Source: Crunchbase

Frontera
Alt-investing in emerging markets
Latest round: $500,000 Series A
Total raised: $500,000
HQ: Singapore
Tags: Consumer, advisers, investing, venture capital
Source: Crunchbase

Sezzle
Payment via bank transfer (ACH)
Latest round: $500,000
Total raised: $500,000
HQ: Minneapolis, Minnesota
Tags: SMB, ACH, payments, bank transfers, merchants, point of sale (POS), checking accounts, Finovate alum
Source: Finovate

Bee Card
Basic consumer bank accounts
Latest round: $250,000
Total raised: $4.85 million
Accelerator: FinLab
HQ: New York City, New York
Tags: Consumer, prepaid debit card, deposits, underbanked, millennial, mobile, billpay
Source: FT Partners

Earnup
Consumer debt-repayment optimization
Latest round: $250,000
Total raised: $250,000
Accelerator: FinLab
HQ: San Francisco, California
Tags: Consumer, lending, peer-to-peer, P2P, credit, underwriting, investing
Source: FT Partners

eCreditHero
Consumer credit repair
Latest round: $250,000
Total raised: $250,000
Accelerator: FinLab
HQ: New York City, New York
Tags: Consumer, lending, credit, debt repayment, restructure
Source: FT Partners

Everlance
Expense and mileage tracker
Latest round: $250,000
Total raised: $250,000
Accelerator: FinLab
HQ: San Francisco, California
Tags: Consumer, SMB, personal financial management (PFM), expense reports, employees
Source: FT Partners

Meet Albert
Financial advice for consumers
Latest round: $250,000
Total raised: $250,000
Accelerator: FinLab
HQ: Los Angeles, California
Tags: Consumer, personal financial health, education
Source: FT Partners

Remedy
Consumer medical bill analysis
Latest round: $250,000
Total raised: $250,000
Accelerator: FinLab
HQ: San Francisco, California
Tags: Consumer, billpay, personal financial management (PFM), healthcare, insurance
Source: FT Partners

WiseBanyan
Consumer financial adviser
Latest round: $250,000
Total raised: $250,000
Accelerator: FinLab
HQ: New York City, New York
Tags: Consumer, investing, financial planning, wealth management
Source: FT Partners

Bidollar
P2P foreign exchange
Latest round: $44,000 Seed
Total raised: $44,000
HQ: California
Accelerator: WOW Aceleradora
Tags: Consumer, SMB, peer-to-peer, P2P, foreign exchange (fx), remittances, exchange rates, price comparison
Source: Crunchbase

Oval Money
Financial planning and savings app
Latest round: $28,000 Grant
Total raised: Unknown
HQ: London, England, United Kingdom
Accelerator: NTT DOCOMO
Tags: Consumer, education, underbanked, savings accounts, deposits, mobile banking, millennials
Source: Crunchbase

KiaKia
Consumer lending
Latest round: $12,000 Angel
Total raised: $12,000
HQ: Nigeria
Tags: Consumer, lending, alt-lending, credit, payday, underwriting
Source: Crunchbase

Lend
P2P lending platform
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Switzerland
Tags: Consumer, lending, peer-to-peer, P2P, credit, underwriting, investing
Source: Crunchbase

Navicure
Medical claims management and payments
Latest round: Undisclosed
Total raised: Unknown
HQ: Duluth, Georgia
Tags: SMB, healthcare, insurance, payments, billing, accounting, analytics, BI
Source: FT Partners

—-
Image licensed from 123rf

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Fintech Fundings: 38 Companies Raise $220 Million the Second Week of June

By Jim Bruene Posted on July 14, 2016
Categories: Funding

For the second week in a row, the number of deals reported, 38, was just one below the weekly record. In all, fintech companies worldwide raised $222 million the second week of June. Nine deals were for undisclosed sums and $500,000 was reported as debt, although two were convertible notes. There was an odd cluster of fundings around the $2 million mark with 10 of the 29 deals (with known amounts) landing between $1.8 and $2.5 million.

Five Finovate alums combined to raise nearly $100 million, 42% of the week’s total:

Tradeshift received a $75 million Series D giving the trade platform a $500 million valuation
CrowdFlower tapped Microsoft to lead a $10 million round to further its big data analytics
Bento for Business landed $7 million for its digital business banking platform
Buzz Points grabbed $1.8 million for its credit- and debit-card loyalty program
Alpha Payments Cloud joined Wells Fargo’s latest accelerator class, receiving an equity infusion of $50,000 to $500,000

The total number of deals YTD stands at 627, nearly double last year’s 321. Total dollars raised YTD is now $16.4 billion, more than twice the $7.5 billion raised during the same period a year ago.

——-

Fintech deals by size from 4 June to 10 June 2016:

Tradeshift
Trading platform
Latest round: $75 million Series D
Total raised: $174 million
HQ: San Francisco, California
Tags: SMB, enterprise, trade finance, invoicing, billing, expense management, accounting, payables, Finovate alum
Source: Finovate

zipMoney Payments
Alt-lender and payments
Latest round: $20.6 million Post-IPO Equity
Total raised: $121.6 million Post-IPO, including $100 million Debt
HQ: Perth, Australia
Tags: Consumer, lending, credit, underwriting, payments, point-of-sale financing, POS
Source: Crunchbase

Jiff
Enerprise health benefits platform
Latest round: $17.7 million Series C
Total raised: $65.7 million
HQ: Palo Alto, California
Tags: Healthcare, insurance, employee benefits, HR
Source: FT Partners

nCino
Bank operating system
Latest round: $15.67 million
Total raised: $64.67 million
HQ: Wilmington, North Carolina
Tags: Institutions, CRM, loan origination, workflow, content management, analytics, BI
Source: Crunchbase

NexusCrowd
Real estate crowdfunding platform
Latest round: $15.5 million
Total raised: $15.5 million
HQ: Toronto, Ontario, Canada
Tags: Consumer, SMB, lending, peer-to-peer, P2P, credit, underwriting, investing
Source: Crunchbase

Ascend Consumer Finance
Alt-lender
Latest round: $11 million Series A
Total raised: $12.5 million
HQ: San Francisco, California
Tags: Consumer, lending, credit, underwriting, investing
Source: Crunchbase

CrowdFlower
Data analytics platform
Latest round: $10 million Series D
Total raised: $38 million
HQ: San Francisco, California
Tags: Insitutions, advisers, big data, machine learning, analytics, BI, Finovate alums
Source: Finovate

trueEX
Executation platform for interest rate swaps (IRS)
Latest round: $9.21 million
Total raised: $33.7 million
HQ: New York City
Tags: Institutions, trading, investing
Source: Crunchbase

Notarize
Electronic notary service
Latest round: $8 million Series A
Total raised: $10.4 million
HQ: Boston, Massachusetts
Tags: SMB, lending, legal, compliance
Source: Crunchbase

Bento for Business
Digital business banking platform
Latest round: $7 million Series A
Total raised: $9.5 million
HQ: San Francisco, California
Tags: SMB, small business, online banking, payments, debit cards, prepaid, expense control, Finovate alum
Source: Finovate

InvoiceFinance
Invoice financing
Latest round: $3.9 million Seed
Total raised: $3.9 million
HQ: ‘s-hertogenbosch, Netherlands
Tags: SMB, lending, alt-lender, commerical loans, trade finance, billing, invoicing, cash flow, working capital
Source: Crunchbase

FlexReceipts
Digital receipts
Latest round: $2.5 million
Total raised: $5 million
HQ: California
Tags: SMB, B2B2C, payments, personal financial management (PFM), spending, marketing
Source: Crunchbase

PaymentWorks
B2B payments platform
Latest round: $2.5 million Convertible Note
Total raised: $4.03 million
HQ: Cambridge, Massachusetts
Tags: SMB, payments, invoicing, billing, bill payment
Source: Crunchbase

Satago
Invoice financing
Latest round: $2.3 million
Total raised: $3.4 million
HQ: London, England, United Kingdom
Tags: SMB, lending, alt-lender, commerical loans, trade finance, billing, invoicing, cash flow
Source: Crunchbase

Muume
Mobile point-of-sale platform
Latest round: $2.3 million Series A
Total raised: $2.3 million
HQ: Cham, Switzerland
Tags: SMB, payments, mobile, mPOS, merchants, acquiring, credit/debit cards
Source: Crunchbase

Bunker Protect
Insurance marketplace for contract labor
Latest round: $2 million Seed
Total raised: $2 million
HQ: San Francisco, California
Tags: SMB, insurance, contract-related, 1099 workers
Investors: Hiscox, Route 66, American Family, Comcast
Source: Crunchbase

CreditVidya
Alt-credit score
Latest round: $2 million Series A
Total raised: $2 million
HQ: Mumbai, India
Tags: Institutions, lenders, credit reports, underwriting, credit
Source: Crunchbase

ePaylater
Consumer point-of-sale financing
Latest round: $2 million Seed
Total raised: $2 million
HQ: Mumbai, India
Tags: Consumer, lending, alt-lending, underwriting, credit
Source: Crunchbase

FollowIt
Real estate listings
Latest round: $2 million Seed
Total raised: $2 million
HQ: Woolloomooloo, Australia
Tags: Consumer, mortgage, home buying, discovery, lead generation
Source: Crunchbase

KrazyBee (Finovation Tech Solutions)
Alt-lender
Latest round: $2 million Seed
Total raised: $2 million
HQ: Bangalore, India
Tags: Consumer, lending, credit, underwriting, point-of-sale financing
Source: Crunchbase

Buzz Points (owned by Fisoc)
Debit and credit card rewards
Latest round: $1.86 million
Total raised: $1.86 million
HQ: Austin, Texas
Tags: B2B2C, institutions, payments, marketing, loyalty, marketing, Finovate alum
Source: Crunchbase

AppFront
Mobile point-of-sale apps
Latest round: $1.5 million Seed
Total raised: $1.5 million
HQ: Tel Aviv, Israel
Tags: B2B2C, SMB, payments, mobile, mPOS, merchants
Source: Crunchbase

GrowthDeck
Equity crowdfunding platform
Latest round: $1.45 million
Total raised: $1.45 million
HQ: London, England, United Kingdom
Tags: Consumer, SMB, equity, stock, peer-to-peer, P2P, investing
Source: Crunchbase

NettCash (owned by Mozido)
Mobile wallet & payments
Latest round: $1.3 million
Total raised: $1.3 million
HQ: Harare, Zimbabwe
Tags: Consumer, payments, mobile, merchants, acquiring, mPOS
Source: Crunchbase

Insly
Insurance management software
Latest round: $1.13 million Seed
Total raised: $1.16 million
HQ: London, England, United Kingdom
Tags: SMB, insurance agents, brokers, process management
Source: Crunchbase

Risk Focus
Risk management for capital markets
Latest round: $500,0000 Debt
Total raised: $500,000
HQ: New York City, New York
Tags: Institutions, compliance, risk mananagement, trading, investing
Source: Crunchbase

Besepa
Direct debit platform
Latest round: $340,000 Seed
Total raised: $630,000
HQ: Madrid, Spain
Tags: Consumer, SMB, funds transfer, payments, debit, billpay
Source: Crunchbase

Payfully
Receivables financing for AirBnB hosts
Latest round: $300,000 Convertible Note
Total raised: $300,000
HQ: Brooklyn, New York
Tags: Consumer, SMB, lending, alt-lending, invoice financing
Source: Crunchbase

PocketSuite
Payment and management tools for small businesses
Latest round: $120,000 Seed
Total raised: $395,000
HQ: San Francisco, California
Accelerator: Y Combinator
Tags: SMB, payments, billing, invoicing, accounting bookkeeping
Source: Crunchbase

Alpha Payments Cloud
Payments platform
Latest round: Undisclosed
Total raised: $12+ million
HQ: Singapore
Accelerator: Wells Fargo
Tags: Institutions, SMB, payments, hub, merchants, credit/debit cards, Finovate alum
Source: Finovate

BLender
P2P lending platform
Latest round: Undisclosed
Total raised: $5 million
HQ: Tel Aviv, Israel
Tags: Consumer, lending, peer-to-peer, P2P, credit, underwriting, investing
Source: Crunchbase

Capsilon
Document and data management for mortgage companies
Latest round: Undisclosed
Total raised: $21.4+ million
HQ: California
Tags: Institution, mortgage banking, brokers, process management
Source: FT Partners

Chamasoft
Bookkeeping tool for investment groups
Latest round: Undisclosed
Total raised: Unknown
HQ: Nairobi, Kenya
Tags: Consumer, lending, peer-to-peer, P2P, credit, underwriting, investing
Source: Crunchbase

Kwanji
FX comparison site
Latest round: Not disclosed
Total raised: $1.93 million
HQ: London, England, United Kingdom
Tags: SMB, foreign exchange, shopping, lead generation, price comparison, remittances
Source: Crunchbase

mergims
Mobile prepaid account
Latest round: Undisclosed
Total raised: $160,000
HQ: Kigali, Rwanda
Tags: Consumer, payments, underbanked, prepaid, mobile
Source: Crunchbase

Tokhelp
Fundraising software for charitable institutions
Latest round: Undisclosed Series C
Total raised: Unknown
HQ: Goiania, Brazil
Tags: Nonprofits, payments, merchants, acquiring, mobile
Source: FT Partners

VugaPay
Mobile payments
Latest round: Undisclosed
Total raised: $25,000+
HQ: Kigali, Rwanda
Tags: Consumer, payments, mobile, prepaid
Source: Crunchbase

Zuora
Billing solutions
Latest round: Undisclosed
Total raised: $242.5 million
HQ: Foster City, California
Tags: SMB, billing, invoicing, payments, accounts-receivables management, bookkeeping
Source: Crunchbase

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Fintech Fundings: 38 Companies Raised $300 Million First Week of June

By Jim Bruene Posted on July 12, 2016
Categories: Funding

With 38 deals reported—one shy of the weekly record—fintech companies raised $303 million worldwide the first week of June. Nine of the deals were for undisclosed amounts and $2 million was reported as debt.

Two Finovate alums landed new money this week:

Callvu raised $3 million, with participation frim NICE Systems
Bridgei2i raised an undisclosed A round to advance its business-process-automation services

The total number of deals YTD stands at 589, 90% more than last year’s 306. Total dollars raised YTD is now $16.1 billion, more than double the $7.3 billion raised during the same period a year ago.

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Fintech deals by size from 28 May to 3 June, 2016:

Partners Life
Online insurance
Latest round: $134.5 million
Total raised: $134.5 million
HQ: Auckland, New Zealand
Tags: Consumer, insurance, life, disability, business risk
Source: Crunchbase

Vibes (owned by Syniverse)
Mobile wallet analytics
Latest round: $45 million Series B
Total raised: $60 million
HQ: Chicago, Illinois
Tags: Institutions, enterprise, payments, mobile, wallet, analytics, marketing
Source: Crunchbase

Digit
Mobile savings account
Latest round: $22.5 million Series B
Total raised: $36.3 million
HQ: San Francisco, California
Tags: Consumer, savings accounts, deposits, mobile, youth market, investing
Source: Crunchbase

Qingshongchou Network Technology
Equity crowdfunding platform
Latest round: $20 million Series B
Total raised: Unknown
HQ: Bejing, China
Tags: Consumer, peer-to-peer, P2P, investing
Source: Crunchbase

Vyze
Financing solutions for retailers and manufacturers
Latest round: $13 million Series B
Total raised: Unknown
HQ: Austin, Texas
Tags: SMB, merchants, point of sale, POS, alt-lending, credit, underwriting, trade finance
Source: Crunchbase

Zibby
Lease-to-own financing platform
Latest round: $12.5 million
Total raised: $12.5 million
HQ: New York City
Tags: SMB, consumer (B2B2C), lending, merchants, credit, point-of-purchase financing, leasing
Source: FT Partners

Payveris
Digital payments platform for financial institutions
Latest round: $7.5 million
Total raised: $14.15 million
HQ: Rocky Hill, Connecticut
Tags: Institutions, SMB, merchants, payments, mobile, API, developers
Source: Crunchbase

Avenues India
Payment processing
Latest round: $6.7 million
Total raised: $6.7 million
HQ: Mumbai, India
Tags: SMB, payments, merchants, POS, point of sale, acquring, debit/credit cards
Source: FT Partners

goHenry
Prepaid debit card for youth
Latest round: $5.8 million Equity Crowdfunding (Crowdcube)
Total raised: $5.8 million
HQ: Farnborough, England, United Kingdom
Tags: Consumer, payments, youth market, parental controls, debit card, prepaid, mobile
Source: Crunchbase

SeedInvest
Equity crowdfunding platform
Latest round: $5.1 million
Total raised: $10.4 million
HQ: New York City
Tags: Consumer, SMB, peer-to-peer, P2P, investing, equity
Source: Crunchbase

Smart Pension
U.K. pension auto-enrollment service
Latest round: $4.8 million Series A
Total raised: $4.8 million
HQ: London, England, United Kingdom
Tags: SMB, advisers, payroll, employers, employee benefits, account opening, accounting
Source: Crunchbase

Smartkarma
Marketplace for Asian investment research
Latest round: $4.7 million
Total raised: $7.5 million
HQ: Singapore
Tags: Consumer, advisers, trading, wealth management, investing
Source: FT Partners

Homie
P2P real estate marketplace
Latest round: $4.5 million Seed
Total raised: $8.26 million
HQ: Salt Lake City, Utah
Tags: Consumer, SMB, peer-to-peer, home buying, mortgage, real estate properites
Source: Crunchbase

CallVu
Digital engagement platform
Latest round: $3 million
Total raised: $3 million
HQ: New York City
Tags: Institutions, marketing, customer service, retention, NICE Systems (investor), Finovate alum
Source: Finovate

FundingGates
Accounts receivables platform for small businesses
Latest round: $2.26 million Debt
Total raised: $8.17 million ($5.92 million Equity)
HQ: New York City
Tags: SMB, accounting, bookkeeping, accounts receivables, AR management, billing, invoicing, collections
Source: Crunchbase

Kikka Capital
Alt-lender for small businesses
Latest round: $2 million Seed
Total raised: $2 million
HQ: Perth, Australia
Tags: SMB, commerical, lending, credit, underwriting, investing
Source: Crunchbase

Moka
mPOS platform
Latest round: $1.9 million Series A
Total raised: $1.9 million
HQ: Jakarta, Indonesia
Tags: SMB, merchant, payments, POS, point of sale, credit/debit cards, acquiring
Source: Crunchbase

Sernova Financial
Clearing services
Latest round: $1.46 million Seed
Total raised: $1.46 million
HQ: London, England, United Kingdom
Tags: Advisers, institutions, investing, trading, risk management
Source: Crunchbase

FundedbyMe
Equity crowdfunding platform
Latest round: $1.3 million
Total raised: $2.8 million
HQ: Stockholm, Sweden
Tags: Consumer, SMB, peer-to-peer, P2P, equity, investing
Source: Crunchbase

FinAccel
Alt-lending
Latest round: $1.1 million Seed
Total raised: $1.1 million
HQ: Jakarta, Indonesia
Tags: Consumer, merchants, POS, point-of-sale financing, lending, credit, underwriting
Source: Crunchbase

WiseAlpha
Corporate loan-investing platform
Latest round: $860,000
Total raised: $1.2 million
HQ: London, England, United Kingdom
Tags: Consumer, lending, peer-to-peer, P2P, credit, underwriting, investing
Source: FT Partners

Macrovue
Theme-based investing
Latest round: $680,000 Convertible Note
Total raised: $680,000
HQ: Sydney, Australia
Tags: Consumer, advisers, investing, trading, ETFs, wealth management
Source: Crunchbase

AngelSpan
Investor-relations platform for startups
Latest round: $600,000
Total raised: $600,000
HQ: Austin, Texas
Tags: SMB, small business, investing
Source: FT Partners

Moneytis
Funds transfers
Latest round: $334,000 Seed
Total raised: $390,000
HQ: Paris, France
Tags: Consumer, remittances, fx, international funds transfer, bitcoin, crypto-currency
Source: Crunchbase

BudgetBakers
Personal financial management
Latest round: $290,000 Seed
Total raised: $430,000
HQ: Prague, Czech Republic
Tags: Consumer, PFM, budgeting, mobile
Source: Crunchbase

Currency Alliance
Comcoin digital currency
Latest round: $223,000 Seed
Total raised: $223,000
HQ: Barcelona, Spain
Tags: Consumer, SMB, payments, virtual currency, crypto-currency, bitcoin, blockchain
Source: Crunchbase

AMoney
Blockchain protocol
Latest round: $100,000 Seed ($5 million valuation)
Total raised: $100,000
HQ: Cameroon
Tags: Consumer, payments, remittancees, funds transfer, cryptocurrency
Source: Crunchbase

Bonop.com
Micro-payments for online content
Latest round: $56,000 Seed
Total raised: $110,000
HQ: Marbella, Spain
Tags: Consumer, SMB, payments, micro-payments
Source: Crunchbase

iBan
Crowdlending platform
Latest round: $56,000 Seed
Total raised: $56,000
HQ: London, England, United Kingdom
Tags: Consumer, lending, peer-to-peer, P2P, credit, underwriting, investing
Source: Crunchbase

Bridgei2i
Process automation for financial institutions
Latest round: Undisclosed (11% stake to Cuscal)
Total raised: Unknown
HQ: Bangalore, India
Tags: Institutions, analytics, business-process optimizatio, BI, Finovate alum
Source: FT Partners

Harbortouch
Payment processor
Latest round: Undisclosed
Total raised: $279+ million
HQ: Allentown, Pennsylvania
Tags: SMB, payments, merchants, POS, point of sale, acquring, debit/credit cards
Source: FT Partners

Investree
P2P lending marketplace
Latest round: Undisclosed
Total raised: Unknown
HQ: Jarkarta, Indonesia
Tags: Consumer, lending, peer-to-peer, P2P, credit, underwriting, investing
Source: Crunchbase

Moroku
Mobile banking software
Latest round: Undisclosed (11% stake to Cuscal)
Total raised: Unknown
HQ: Sydney, Australia
Tags: Institutions, B2B2C, mobile banking, UX/UI
Source: FT Partners

Pay4later
Retail finance gateway
Latest round: Undisclosed
Total raised: Unknown
HQ: London, England, United Kingdom
Tags: SMB, merchant, consumer, lending, underwriting, point of sale purchases
Source: Crunchbase

PennyPass
Digital payments
Latest round: Undisclosed Angel
Total raised: Unknown
HQ: San Francisco, California
Tags: Consumer, SMB, payments, micro-payments, mobile
Source: Crunchbase

PinPay
Mobile payments
Latest round: Undisclosed
Total raised: $1.1 million
HQ: Beirut, Lebanon
Tags: Consumer, payments, mobile
Source: Crunchbase

Stratifund
Information for crowdfunding investors
Latest round: Undisclosed
Total raised: Unknown
HQ: Minneapolis, Minnesota
Tags: Consumer, lending, peer-to-peer, P2P, information, investing, discover, lead gen
Source: Crunchbase

Valendo
Online asset lending
Latest round: Undisclosed Series A
Total raised: Unknown
HQ: Berlin, Germany
Tags: Consumer, lending, pawnshop, intallment loans, underwriting, investing, short-term credit
Source: Crunchbase

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$510 Million Raised by 22 Alums in Q2 2016

By David Penn Posted on July 11, 2016
Categories: Funding, Fundings

Finovate alums raised more than $510 million in the second quarter of 2016, down 39% compared to Q2 2015 and down 22% from last quarter. And while this number is down from the breakaway second quarter of 2015, the trend in Q2 alum funding remains on the upswing based on previous years. Q2 2016 was 11% above Q2 2014 and more than twice as much as raised in Q2 2013.

Previous Quarterly Comparisons

Q2 2016: More than $510 million raised by 23 alums
Q2 2015: More than $840 million raised by 39 alums
Q2 2014: More than $458 million raised by eight alums
Q2 2013: More than $200 million raised by 15 alums

The biggest equity deal of the second quarter was the $75 million raised by Tradeshift in June. Also noteworthy was the $50 million raised by Personal Capital, and SigFig’s $40 million financing. The top 10 investments in the second quarter totaled $327 million or 64% of the quarter’s total alum funding.

Top 10 Overall Investments (equity only)

Tradeshift: $75 million
Personal Capital: $50 million
SigFig: $40 million
Persado: $30 million
TransferWise: $26 million
SocietyOne: $25 million
Zooz: $24 million
Dashlane: $22.5 million
BizFi: $20 million
Azimo: $15 million

Here is our detailed alum funding report for Q2 2016.

April 2016: More than $169 million raised by six alums

Aire: undisclosed – post
BlueVine: undisclosed – post
Ixaris: $6 million – post
Persado: $30 million – post
Scalable Capital: $7.9 million – post
SocietyOne: $25 million (plus $100 million debt) – post

May 2016: More than $217 million raised by nine alums

Azimo: $15 million – post
Dashlane: $22.5 million – post
EZBOB: $35.5 million debt – news
Featurespace: $9 million – post
Personal Capital: $50 million – post
SigFig: $40 million – post
Tagit: $8.75 million – post
Tink: $10 million – post
TransferWise: $26 million – post

June 2016: More than $126 million raised by seven alums

Bento: $7 million – post
BizFi: $20 million – post
Buzz Points: $1.8 million – post
CallVU: $3 million – post
CrowdFlower: $10 million – post
Passport: $8 million – post
TradeShift: $75 million – post

If you are a Finovate alum that raised money in the second quarter of 2016, and do not see your company listed, please drop us a note at research@finovate.com. We would love to share the good news! Funding received prior to becoming an alum not included.

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Revolut Lands $8.7 Million, Launches Crowdfunding Campaign

By Julie Muhn (@julieschicktanz) Posted on July 11, 2016
Categories: Funding, Revolut

While some European fintech companies are worried Brexit will stifle the tech industry, London-based Revolut’s latest news indicates there’s still room for growth. The company, which offers a multicurrency-payments platform, closed on $8.7 million (£6.8 million) from big-name investors and has a goal to pull in more through a public crowdfunding campaign.

Investors include Ribbit Capital along with existing contributors Balderton Capital, Index Ventures, Point Nine Capital, Venrex and Seedcamp. Today’s Series A round brings the company’s total funding to $13.2 million since it was founded in 2013. According to Business Insider, the company is now valued at $54 million (£42 million).

Revolut is offering the public an opportunity to invest by launching a crowdfunding campaign to raise another $1.3 million (£1 million) hosted on Crowdcube, where investors can participate with as little as £10. Starting today, Revolut is inviting the most active of its 200,000 users to preregister. Others will be able to register when the campaign opens in a week. According to the company’s pitch site on Crowdcube:

Revolut will be inviting people to invest based on the number of contacts in their Revolut contact book. People with the most contacts will be granted priority access by Revolut from Wednesday 20th, 24 hours before the pitch is available to the public.

At press time the company has already far exceeded its $1.3 million goal; 4,832 people have committed to invest more than $11.7 million (£8.5 million).

The Revolut app, combined with a prepaid MasterCard, lets users load money from the bank account in their domestic currency and spend it in 90 different currencies across the globe, including bitcoin, at the interbank rate. The company is seeing more than 1,500 new customers register each day. Since the platform went live about a year ago, users have transferred more than $500 million on its cards. Here’s a look at the growth:

Revolut debuted at FinovateEurope 2015 in London. Revolut’s CEO and founder Nikolay Storonsky began working on the idea after his bank charged him $2,000 in fees after spending $12,000 while traveling abroad. “That is why we built Revolut,” Storonsky said during the demo. “It allows you to exchange, send, and spend your money, completely avoiding all your banking fees without actually using a bank.”

CEO Nikolay Storonsky, founder, and CTO Vlad Yatsenko debuted Revolut at FinovateEurope 2015 in London.

In May of this year, Revolut received an e-money license from the U.K.’s Financial Conduct Authority to bolster currency exchange functionality in the app. Post-Brexit, the company anticipates it will receive passporting rights from the E.U. to use the license in other countries. If the license falls through, CEO Storonsky tells Business Insider, “We’ll just set up … an office in Berlin and get licensed there.”

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Coinbase Lands $10.5 Million in Strategic Investment from Bank of Tokyo Mitsubishi UFJ

By Julie Muhn (@julieschicktanz) Posted on July 7, 2016
Categories: Coinbase, Funding

Coinbase, a Bitcoin platform for merchant processing and consumer wallets, received backing from Bank of Tokyo Mitsubishi UFJ (BTMU), Mitsubishi UFJ Capital (MUCAP) and Sozo Ventures today.

The three firms have made a strategic investment of $10.5 million in Coinbase, bringing the company’s total funding to just north of $116 million. Previous investors in Coinbase include Draper Fisher Jurvetson, the New York Stock Exchange, BBVA Ventures, and Andreessen Horowitz.

BTMU, the largest bank in Japan, plans to work with the San Francisco-based company to fuel its international expansion. Coinbase does not currently support digital currency-exchange services in Japan, but said in a blog post that it is looking forward to working with BTMU “to support this focus in key markets in Asia and globally.”

Late last month Coinbase announced it now accepts PayPal for selling bitcoin. Coinbase users in the U.S. can now sell bitcoin and have the funds deposited in their PayPal wallet. The company plans to add support for other countries in the future. Coinbase also added support for purchasing bitcoin with credit cards. Both services are still in beta.

At FinovateSpring 2014, Coinbase debuted Instant Exchange, a merchant-payment solution that allows businesses to accept bitcoin without any exchange-rate risk, shielding them from market volatility. Coinbase has 4 million customers across a supported network of 32 countries and has seen $4 billion in bitcoin exchanged over its platform since launching in 2012.

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Dave Buerger, CUneXus president and cofounder, and Darin Chong, cofounder, presented at FinovateSpring 2016.

—- Image licensed from 123rf

CEO Nikolay Storonsky, founder, and CTO Vlad Yatsenko debuted Revolut at FinovateEurope 2015 in London.

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Image licensed from 123rf