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Fintech Fundings: 22 Companies Raise $160 Million Week Ending March 11

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

Last week, 22 fintech companies raised a total of $159 million, of which at least $5 million was debt. It was the tenth week in a row with 20 or more fintech deals. By comparison, in 2015 we hit that mark 13 times during the entire year.

The year-to-date total raised is $5.5 billion, more than double the $2.7 billion invested during the same period last year. And more telling, the number of deals is up 90%—249 vs. 130 in 2015.

It was a busy week for Finovate alums with six raising fresh cash and one being acquired:

EZBOB raised $28.8 million for its SMB alt-lending service
TradeShift added $20 million for its trade finance platform
D3 Banking borrowed $4.5 million for its digital banking technology
DealFlow obtained a $1 million convertible note for its deal-discovery engine
StockViews raised $355,000 for its stock market research platform
Algomi raised an undisclosed amount for its bond information platform
Holvi was acquired by BBVA for an undisclosed amount

Here are the fintech deals by size from 5 March to 11 March 2016:

AlphaSense
Smart financial search engine
Latest round: $33 million
Total raised: $33 million
HQ: San Francisco, California
Tags: SMB, B2B, data, analytics, investing, underwriting, valuations, investment banking, trading
Source: Crunchbase

JustWorks
Payroll, benefits and compliance platform for employers
Latest round: $33 million Series C
Total raised: $53 million
HQ: New York City
Tags: SMB, payroll, HR, insurance, benefits, compliance, employees
Source: Crunchbase

EZBOB
Alt-lender for small businesses
Latest round: $28.8 million
Total raised: $83 million
HQ: London, England, United Kingdom
Tags: SMB, lending, underwriting, credit, commercial loans, Bank Leumi (investor), Finovate alum
Source: Finovate

Property Partner
Residential real estate crowdfunding
Latest round: $22.6 million
Total raised: $32.4 million
HQ: London, England, United Kingdom
Tags: Consumers, lending, mortgage, underwriting, investing, REIT, trading, P2P, peer to peer
Source: Crunchbase

TradeShift
Global trade platform
Latest round: $20 million
Total raised: $174 million
HQ: San Francisco, California
Tags: SMB, B2B, financing, underwriting, invoicing, payments, accounts receivables, Finovate alum
Source: Crunchbase

D3 Banking
Personal and small business financial management
Latest round: $4.5 million Debt
Total raised: $16.2 million ($4.5 million is Debt)
HQ: Omaha, Nebraska
Tags: Consumers, SMB, personal financial management (PFM), banking, Finovate alum
Source: FT Partners

Selerity
Content-recommendation engine for financial institutions
Latest round: $4.2 million
Total raised: $12.2 million
HQ: New York City
Tags: Consumers, B2B2C, enterprise, investing, content management, infomation, Citibank (investor)
Source: VentureBeat

Chronicled
Blockchain-based asset tracking
Latest round: $3.43 million Seed
Total raised: $4.83 million
HQ: San Francisco, California
Tags: Consumers, SMB, merchants, cryptocurrency, bitcoin, authentication, trading, collecting
Source: Crunchbase

The Floor
Fintech ideas platform
Latest round: $2 million Seed
Total raised: $2 million
HQ: Tel Aviv, Israel
Tags: SMB, VC, angel, investing, information exchange
Source: Crunchbase

CoverWallet
Insurance management for small businesses
Latest round: $2 million Seed
Total raised: $2 million
HQ: New York City
Tags: SMB, insurance management, price comparison, lead gen, discovery, quotes
Source: Crunchbase

Onslip
Merchant POS system
Latest round: $1.3 million
Total raised: $1.3 million
HQ: Linkoping, Sweden
Tags: SMB, payments, debit/credit cards, merchants, acquiring, point-of-sale
Source: FT Partners

Smart Bill
Invoicing and inventory management for small businesses
Latest round: $1.1 million Seed
Total raised: $1.1 million
HQ: Sibiu, Romania
Tags: SMB, billing, invoicing, payments, accounts receivables, inventory management
Source: Crunchbase

DealFlow
Deal sourcing and marketing platform
Latest round: $1 million Convertible Note
Total raised: $2 million
HQ: Jericho, New York
Tags: Advisers, SMB, investors, deals, equity, trading, discovery, Finovate alum
Source: Crunchbase

Ensygnia
Mobile payments
Latest round: $710,000 Series A
Total raised: $4.1 million
HQ: Cambridge, England, United Kingdom
Tags: Consumers, SMB, merchants, payments, mobile, credit/debit cards, acquiring
Source: FT Partners

SpeedETab
Mobile ordering and payments
Latest round: $650,000
Total raised: $650,000
HQ: Fort Lauderdale, Florida
Tags: Consumers, SMB, merchants, payments, mobile, credit/debit cards, acquiring, hospitality
Source: Crunchbase

Anedot
Payment platform for nonprofits
Latest round: $510,000 Debt
Total raised: $1.25 million (including $510,000 debt)
HQ: Baton Rouge, Louisiana
Tags: Consumers, SMB, fundraising, payments, credit/debit cards, merchants, acquiring
Source: Crunchbase

StockViews
Stock market research platform
Latest round: $355,000 Seed
Total raised: $355,000
HQ: London, England, United Kingdom
Tags: Consumers, advisers, trading, investment, research, information, Finovate alum
Source: Finovate

FlexReceipts
Smart receipt technology
Latest round: $120,000
Total raised: $2 million
HQ: Orlando, Florida
Tags: SMB, payments, spending, personal finance, PFM, merchants, point of sale, POS, Y Combinator
Source: VentureBeat

International Payment Processing Network
Payment processor
Latest round: $100,000 Seed
Total raised: $100,000
HQ: Boca Raton, Florida
Tags: SMB, payments, credit/debit cards, merchants, acquiring
Source: Crunchbase

Bond Sheets
Links to bonds for sale
Latest round: $10,000
Total raised: $10,000
HQ: Houston, Texas
Tags: Consumers, debts, investing, bond, discovery
Source: Crunchbase

Algomi
Bond information network
Total raised: Unknown
HQ: London, England, United Kingdom
Tags: Advisers, enterprise, fixed income investing, discovery, Finovate alum
Source: FT Partners

Finomena
Personal finance site in India
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Bengaluru, India
Tags: Consumers, SMB, lending, underwriting, investing, credit
Source: Crunchbase

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Algomi Gains Investment from Former Thomson Reuters CEO Tom Glocer

By David Penn Posted on March 14, 2016
Categories: Algomi, Funding, Fundings

Tom Glocer, managing partner of Angelic Ventures and former CEO of Thomson Reuters (2008 through 2011), will work with fintech innovator Algomi as a strategic adviser. Glocer also made a significant investment in the company, though the amount of the investment was not disclosed.

“We’re empowering our customers by giving them more actionable intelligence on the data they already hold within their businesses,” Algomi CEO Stu Taylor explained. “Tom’s experience with Thomson Reuters and his track record of working with other successful financial services businesses will be invaluable for us as we continue to develop our offering.”

Pictured: Algomi CEO Stu Taylor demonstrated Algomi’s Honeycomb technology at FinovateFall 2014 in New York.

Algomi provides a social networking and market-intelligence platform for professionals working in the fixed-income bond markets. The company’s Honeycomb network connects fixed-income sales forces, traders, and customers with the goal of increasing both the number of trading and investing opportunities as well as the velocity of large transactions in what the company calls a “liquidity-constrained world.” Honeycomb uses custom algorithms to push the best deals and opportunities to fixed-income salespeople in real-time, providing a greater degree of transparency and the lowest level of market disruption when trading and investing in often-illiquid markets.

Calling the lack of liquidity as a major issue plaguing fixed-income investing, Glocer (right) says, “Algomi’s approach of creating a bank balance-sheet based on actual data, and virtualizing the assets in the market is fascinating, and I’m looking forward to working closely with them.”

The company’s current clients include Deutsche Bank, HSBC, Alliance Bernstein, JP Morgan, as well as hedge funds, insurance companies, and sovereign wealth funds. More than 160 buy-side firms, 15 banks, and hundreds of registered users around the world have signed on to be a part of Algomi’s Honeycomb network.

In addition to Glocer, Howard Edelstein will join Algomi’s Board of Directors. Edelstein had served the company as strategic adviser for the past two years, and is the current chairman of REDI Holdings.

“I’ve been working closely with Algomi for two years,” Edelstein said, “and believe the company delivers a second-to-none approach to a bank’s fixed-income, liquidity-sourcing needs.”

Founded in 2012 and headquartered in London, Algomi demonstrated Honeycomb, its buy-side graphic user interface, at FinovateFall 2014.

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Dealflow Closes Million Dollar Convertible Note

By David Penn Posted on March 14, 2016
Categories: Dealflow, Funding, Fundings

Dealflow, the multi-asset, deal sourcing and marketing platform for institutional investors and their advisers, has closed a $1 million convertible debt offering.

In a blog post announcing the funding, Dealflow founder and CEO Steven Dresner credited Rule 506(c) for helping make the financing a reality. “It’s because of Rule 506(c)—and specifically the ability to advertise the deal—that I can present our investment opportunity to an active readership of about 11,000—with astonishingly high open rates, I might add!”

Pictured: Dealflow Founder and CEO Steven Dresner demonstrated his company’s platform at FinovateFall 2015 in New York.

Dealflow’s technology helps buyers and sellers find deals among actively marketed private-placement opportunities. The company’s software enables investors to query Dealflow’s aggregated database, tracking deals using “recommendation-type” algorithms. The platform’s Signal technology leverages both user preferences and actual user history to provide more accurate and efficient results. Users can be alerted to changes in deals they are watching, forward deals to a colleague, read information about the management, watch video information, and so on.

During their Finovate appearance, Dealflow unveiled its Dealflow 2.0 technology including a new Dashboard feature that leverages Signal to aggregate the most relevant deals. For example, investors looking for potential fintech investments see a dashboard loaded with deals in that sector. At the same time, companies looking to raise capital are shown potential investors who have committed capital to similar projects.

Founded in 2013 and headquartered in New York City, Dealflow introduced its platform at FinovateFall 2015. The company has a number of financial services firms sourcing opportunities on its platform including Cantor Fitzgerald, Societe Generale, RBS, and Goldman Sachs.

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EZBOB Raises £20 Million in Series C Round Led by Bank Leumi, Oaktree

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

Small business lending innovator EZBOB has raised £20 million ($28.8 million USD) in a Series C investment. The round was led by Leumi Partners and Oaktree Capital Management and takes EZBOB’s total capital to more than $83 million.

EZBOB CEO Tomer Guriel, co-founder, called the investment “proof” of his company’s platform and strategy for helping small businesses get the funding they need to grow. “This latest investment will further accelerate our growth plans and enable us to continue to develop our proprietary business lending platform to address more of the U.K.’s business lending needs.”

Pictured (left to right): EZBOB COO Nimrod Kaplan and CEO Tomer Guriel, co-founder, demonstrated the EZBOB platform at FinovateEurope 2014 in London.

The investment also marks the first major foray into fintech for the Israeli-based Leumi Partners. Leumi Group Deputy CEO Danny Tsiddon says that, given the strong growth of business e-lending worldwide, “it is only natural that a bank which specializes in Israeli high-tech and spearheads innovation has chosen to invest in this leading FinTech startup.”

EZBOB says that the additional funding will help the the company both increase its lending capacity as well as improve its lending technology. The company has provided more than £100 million in funding via more than 8,500 loans to SMEs in the United Kingdom. Applying for a loan from EZBOB takes only 10 minutes and businesses can get funding in as little as 30 minutes. Loans are available from between £500 and £120,000, and U.K. businesses with annual turnover of at least £10,000 that have been in operation for at least a year are eligible.

Founded in 2011 and based in London, EZBOB demonstrated its technology at FinovateEurope 2014.

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StockViews Raises $355k in Seed Funding, Adds Fidelity’s Balk as Chairman

By David Penn Posted on March 10, 2016
Categories: Funding, Fundings, StockViews

Stock market research platform Stockviews has raised £250,000 ($355,000 USD) in seed funding. Participating in the round were angel network Craigie Capital, the London Co-Investment Fund, and former head of Fidelity International, Thomas Balk, who will join Stockviews’ board of directors as chairman.

Stockviews CEO Tom Beevers called Balk’s decision to join the company “a huge validation of this new approach to equity research.” Beevers praised Balk’s 25 years of experience in global asset management, including 16 years at Fidelity. “We’re delighted to have such a high-caliber executive heading up our board,” Beevers said.

Pictured: StockViews CEO and Founder Tom Beevers demonstrated his company’s technology at FinovateSpring 2015.

Balk spoke to StockViews’ ability to help improve sell-side research, which he said “has long had a poor reputation for generating results.” Focusing on the competition among fund managers as a main driver of interest in new technologies, Balk sees StockViews as becoming the “leading marketplace for high-quality, independent investment research.”

The news comes almost a year since StockViews made its Finovate debut at FinovateSpring 2015. The company’s platform connects individual stock market investors with more than 500 independent equity analysts who make their research available online. The “StockViews Signal,” launched at FinovateSpring 2015, provides a straightforward buy or sell signal for stocks based on the aggregated recommendations of the platform’s highest-rated analysts.

Founded in 2014, StockViews is headquartered in London, United Kingdom.

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Fintech Fundings: 29 Companies Raise $76 Million Week Ending March 3

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

While we continued the streak of 20 or more weekly deals (now = 9), we had a sub-$100 million week for the first time this year. The $76 million raised was the lowest total in a non-holiday week since the first week of March a year ago (who knew the 9th week was so slow?).

However, there were 11 deals with undisclosed funding amounts, notably a “double digit millions” D-round for AuxMoney, which had also raised nearly $200 million in previous rounds. So, the weekly total may well have surpassed $100 million.

Nine weeks into 2016, the total raised is $5.4 billion, more than double the $2.4 billion invested during the same period last year. And more telling, the number of deals is up 90% (227 vs. 119 in 2015).

Two Finovate alums raised new cash:

iQuantify raised $2 million for its robo-advising technology
AnchorID added a $260,000 convertible note for its security software

Here are the fintech deals by size from 27 Feb to 4 Mar 2016:

iAngels
Equity crowdfunding platform
Latest round: $14 million
Total raised: $16.25 million
HQ: Tel Aviv, Israel
Tags: Consumers, SMB, accredited investors, equity investing, startups
Source: Crunchbase

Centage
Spending and forecasting software for small businesses
Latest round: $13.5 million Series A
Total raised: $23 million
HQ: Natick, Massachusetts
Tags: SMB, management accounting, business intelligence, BI
Source: FT Partners

OurCrowd
Crowdfunding/VC hybrid platform
Latest round: $10 million
Total raised: $35 million
HQ: Jerusalem, Israel
Tags: Consumers, SMB, accredited investors, equity investing, startups
Source: Crunchbase

InstaPartners
Receivables financing platform
Latest round: $8.7 million Seed
Total raised: $8.7 million
HQ: Milano, Italy
Tags: SMB, lending, loans, underwriting, factoring, receivables financing, investing
Source: Crunchbase

Roofstock
Platform for investing in single-family rental properties
Latest round: $7 million
Total raised: $13.25 million
HQ: Oakland, California
Tags: Consumers, SMB, lending, real estate, mortgage, investing, alt-investments
Source: Crunchbase

RentMoola
Rental payments network
Latest round: $5 million
Total raised: $5 million
HQ: New York City
Tags: Consumers, SMB, renters, landlords, real estate, payments, billpay, invoicing
Source: Crunchbase

Figo Pet Insurance
Digital pet insurance
Latest round: $4 million Series A
Total raised: $8 million
HQ: Chicago, Illinois
Tags: Consumers, insurance, pets
Source: Crunchbase

Wunder
Crowdfunding platform for solar projects
Latest round: $3.6 million
Total raised: $4.82 million
HQ: Boulder, Colorado
Tags: Consumers, SMB, lending, loans, underwriting, investing, peer-to-peer
Source: Crunchbase

ChangeIt
Charitable payments platform
Latest round: $2.2 million Seed
Total raised: $2.2 million
HQ: Waterloo, Ontario, Canada
Tags: Consumers, non-profits, SMB, payments, giving
Source: Crunchbase

iQuantifi
Robo-adviser software for financial institutions
Latest round: $2 million Angel
Total raised: $2.5 million
HQ: Franklin, Tennessee
Tags: Consumers, SMB, lending, loans, underwriting, investing, peer-to-peer, Finovate alum
Source: Crunchbase

Desposify
Deposit management for landlords and their tenants
Latest round: $1.53 million Seed
Total raised: $1.53 million
HQ: Dublin, Ireland
Tags: Consumers, SMB, renters, landlords, real estate, payments, deposit management
Source: Crunchbase

Mondo
U.K.-based challenger bank
Latest round: $1.42 million crowdfunding (CrowdCube)
Total raised: $11.7 million
HQ: California
Tags: Consumers, banking, debit cards, savings accounts
Source: FT Partners, PaymentsCardsandMobile

Propellr
Individual investment service
Latest round: $1.14 million
Total raised: $1.14 million
HQ: New York City
Tags: Consumers, investing, trading, alt-investments
Source: Crunchbase

Candis
Cloud-based accounting service
Latest round: $1.1 million Seed
Total raised: $1.1 million
HQ: Berlin, Germany
Tags: SMB, accounting, bookkeeping, accounts receivables, payables, invoicing, billing
Source: Crunchbase

Anchor ID
Identity management
Latest round: $260,000 Convertible note
Total raised: $1.1 mil
HQ: Kingston, New York
Tags: Enterprise, security, passwords, authentication, identity, Finovate alum
Source: Crunchbase

Bonsai
Invoicing, payment, and bookkeeping service for freelancers
Latest round: $120,000
Total raised: $120,000
HQ: San Francisco, California
Tags: SMB, accounting, business intelligence BI, invoicing, billing, accounts receivables, Y Combinator (W16)
Source: TechCrunch

STILT
Alt-lender targeting ex-pats
Latest round: $120,000
Total raised: $120,000
HQ: San Francisco, California
Tags: Consumers, lending, loans, underwriting, investing, peer-to-peer, Y Combinator (W16)
Source: VentureBeat

Verity.io
Document storage in the blockchain
Latest round: $23,000 Seed
Total raised: $23,000
HQ: London, England, United Kingdom
Tags: Consumers, SMB, security, blockchain, bitcoin, document management
Source: Crunchbase

AuxMoney
P2P loan marketplace
Latest round: Undisclosed Series D (described as “double digit millions“)
Total raised: $198 million
HQ: Dusseldorf, Germany
Tags: Consumers, lending, loans, underwriting, investing, peer-to-peer
Source: Crunchbase

BitPesa
Mobile payments platform
Latest round: Undisclosed
Total raised: Unknown
HQ: Nairobi, Nigeria
Tags: Consumers, SMB, payments, merchants, POS, mobile, acquiring, P2P, person-to-person
Source: Crunchbase

iiPay
Payroll services
Latest round: Undisclosed Private Equity
Total raised: $1.3 million prior to latest round
HQ: Cheltenham, England, UK
Tags: SMB, employees, HR, payments
Source: FT Partners

LandBay Partners
P2P platform for mortgage
Latest round: Undisclosed
Total raised: $2.4 million prior to latest round
HQ: London, England, UK
Tags: Consumers, mortgage, home buying, lending, loans, underwriting, investing, peer-to-peer
Source: FT Partners

OrthoFI
Financing platform for dental patients
Latest round: Undisclosed
Total raised: $3.7 million
HQ: Denver, Colorado
Tags: Consumers, SMB, dental practice, financing, lending, loans, underwriting
Source: FT Partners

PawnHero
Digital pawn shop
Latest round: Undisclosed
Total raised: Unknown
HQ: California
Tags: Consumers, lending, secured loans, underwriting, pawn
Source: Crunchbase

Pepperstone Financial Services
Online forex trading service
Latest round: Undisclosed
Total raised: Unknown
HQ: Camberwell, Australia
Tags: Consumers, SMB, fx, foreign exchange, trading
Source: FT Partners

RealBest
German real estate platform
Latest round: Undisclosed Series C
Total raised: Unknown
HQ: Berlin, Germany
Tags: Consumers, home buying, mortgage
Source: Crunchbase

Second Horizon (Kxter)
Crowdfuding platform
Latest round: Undisclosed
Total raised: Unknown
HQ: Las Vegas, Nevada
Tags: Consumers, SMB, lending, loans, underwriting, investing, peer-to-peer
Source: Crunchbase

StockRadars
Mobile stock investing information
Latest round: Undisclosed
Total raised: Unknown
HQ: Thailand
Tags: Consumers, investing, trading, information, analytics, insight
Source: Crunchbase

Tauro Wealth
Investing information
Latest round: Undisclosed
Total raised: Unknown
HQ: Bangalore, India
Tags: Consumers, investing, wealth management, information services
Source: Crunchbase

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WorkFusion Raises $14 Million Series C Round Led by Nokia Growth Partners

By David Penn Posted on March 4, 2016
Categories: Funding, Fundings, WorkFusion

Here’s some investment news we missed when it broke in late December: WorkFusion, a company that combines machine learning and crowdsourcing to automate business processes, raised $14 million in Series C investment. The round was led by Nokia Growth Partners, and featured participation from existing investors Greycroft Partners, iNovia Capital, Mohr Davidow Ventures, and RTP Ventures.

The investment takes WorkFusion’s total capital to more than $36 million. The company says the new funding will help fuel its business development initiatives around the world.

Pictured: WorkFusion CEO Max Yankelvich demonstrating his company’s Active-Learning Automation technology at FinovateFall 2014 in New York.

Calling 2016 “the year of automation,” Yankelvich pointed out that WorkFusion’s customers have reduced operational costs by 60% and gained what he called “business agility.” For financial services companies, WorkFusion’s SaaS technology is deployed for customer onboarding, claims processing, and compliance, among other processes.

Among the more recent financial services companies to deploy WorkFusion’s technology is fellow Finovate alum, Markit, which announced its partnership with the machine learning specialist in February. The company has been profiled recently in the New York Business Journal, as well as in AlleyWatch, which features a Q&A with WorkFusion VP of Marketing, Adam Devine.

Founded in 2010 and headquartered in New York City, WorkFusion demonstrated its Active-Learning Automation platform at FinovateFall 2014. Eighteen out of the top 20 information services businesses use WorkFusion’s technology, as do leading financial, global commerce, and business process outsourcing providers. Check out our Finovate Debut post featuring WorkFusion.

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Finagraph Picks Up Investment from Moody’s

By David Penn Posted on March 2, 2016
Categories: BBC Easy, Finagraph, Funding, Fundings

The small business intelligence and analytics platform Finagraph has earned an investment from Moody’s, giving the rating service and research firm a minority stake in the Seattle-area company.

According to Mark Almeida, President of Moody’s Analytics, the investment is based on the company’s desire to help FIs that lend to SMEs. Almeida explained:

“Finagraph’s technology and insight into small business financials enable us to accelerate our efforts to transform the way lenders interact with small businesses, helping bankers make better, faster lending decisions for the growing SME market.”

CEO James Walter (left) and VP of Sales Corey Ross demonstrated their platform at FinovateSpring 2013 in San Francisco (a.k.a. BBC Easy).

Known as BBC Easy when it demonstrated its technology at FinovateSpring 2013, Finagraph provides business owners with tools that help them see trends in working capital, find hidden cash, and monitor risk indicators such as declining cash or a rising expenses vs revenues ratio.

Finagraph’s Financial Dashboard plays well with accounting systems such as Xero and QuickBooks and, as of mid-February, is now available for free. Finagraph also offers financial skills training through its Finagraph Academy, and courtesy of its new relationship with Moody’s, Finagraph will provide business credit scores based on Moody’s Analytics Risk Quality or MARQ.

Finagraph was founded in 2010 and is headquartered in Seattle, Washington. The amount of Moody’s investment was not disclosed. The company will gain a seat on Finagraph’s board of directors are part of the deal.

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Fintech Fundings: 31 Companies Raise $560 Million Week Ending Feb 26

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

Anyone saying funding to the fintech sector is slowing, isn’t looking at the same data we are. For the eighth straight week, more than 20 fintech companies raised new rounds.

Two months into the new year, the total raised is $5.3 billion, more than double the $2.4 billion invested during the same period last year. And more telling, the number of deals is up 82% (198 vs. 109 in 2015).

The 31 companies funded this week set a new weekly record surpassing the old mark set 4 weeks ago. A total of $557 million was raised with $400 million headed to a single company, health insurance newcomer Oscar. The overall total included $28 million in debt.

Four Finovate and FinDEVr alums raised new cash:

Signyfied raised $20 million for its ecommerce fraud software
Spreedly secured $3 million for its merchant credit card vault
Trusted Knight landed a B-round for its security technology
Finagraph raised an undisclosed amount for its BI platform targeted to small businesses

Here are the fintech deals by size from 20 Feb to 26 Feb 2016:

Oscar
Health insurance provider
Latest round: $400 million Private Equity
Total raised: $727.5 million
HQ: New York City
Tags: Consumer, employers, human resources, employee benefits, healthcare, insurance
Source: Crunchbase

Namely
HR, benefits, and payroll platform
Latest round: $30 million
Total raised: $107.8 million
HQ: New York City
Tags: SMB, human resources, employees, benefits, insurance
Source: Crunchbase

MoneyMe
Australian alt-lender to consumers
Latest round: $21.7 million Debt
Total raised: $22.4 million (including $21.7 million debt)
HQ: Australia
Tags: Consumer, loans, lending, underwriting
Source: Crunchbase

Signifyd
Fraud protection for e-commerce
Latest round: $20 million Series B
Total raised: $31 million
HQ: San Jose, California
Tags: Enterprise, security, fraud protection, risk management, Finovate alum
Source: Finovate

AppCard
Loyalty card platform
Latest round: $20 million Series B
Total raised: $26.5 million
HQ: New York City
Tags: SMB, loyalty, rewards, payments, point of sale, merchants, POS
Source: Crunchbase

RealtyShares
Online marketplace for real estate investing
Latest round: $20 million Series B
Total raised: $31.9 million
HQ: San Francisco, California
Tags: Consumer, investing, real estate, wealth management
Source: Crunchbase

Borrowell
Alt-lender for Canadian consumers
Latest round: $6.4 million Debt
Total raised: $11.8 million (including $6.4 million debt)
HQ: Toronto, Ontario, Canada
Tags: Consumer, lending, loans, underwriting, Equitable Bank (investor)
Source: Crunchbase

Real
Digital real estate broker
Latest round: $6 million
Total raised: $7.5 million
HQ: Houston, Texas
Tags: Consumer, agents, home selling, brokers, CRM, real estate
Source: Crunchbase

Juspay
Mobile & online payments in India
Latest round: $5.8 million
Total raised: $5.8 million
HQ: Kormangala, India
Tags: SMB, payments, mobile, POS, merchants
Source: Crunchbase

CREXi
Commercial real estate platform
Latest round: $4.3 million Seed
Total raised: $4.3 million
HQ: Venice, California
Tags: Enterprise, SMB, commercial real estate, CRM, deal flow, mortgage
Source: FT Partners

Captain401
401(k) platform for small businesses
Latest round: $3.5 million Seed
Total raised: $3.6 million
HQ: San Francisco, California
Tags: SMB, retirement planning, 401(k), savings, investing, deposits, Y Combinator
Source: Crunchbase

Vanare
Wealth management platform for advisors
Latest round: $3.5 million Series
Total raised: $6.85 million
HQ: New York City
Tags: Advisors, B2B2C, investing, wealth management, CRM, trading
Source: Crunchbase

Spreedly
Credit card vault to work with multiple payment gateways
Latest round: $3 million Series
Total raised: $5.5 million
HQ: Durham, North Carolina
Tags: SMB, merchants, developers, credit/debit cards, payments, API, security, ecommerce, Finovate alum, FinDEVr alum
Source: Finovate

FinLocker
Loan application & document sharing service
Latest round: $2.25 million
Total raised: $2.25 million
HQ: Missouri City, Missouri
Tags: Enterprise, B2B2C, lending, loan applications, document processing, originations, mortgages
Source: Crunchbase

Mintos
P2p lending marketplace
Latest round: $2.2 million Seed
Total raised: $2.2 million
HQ: Riga, Latvia
Tags: Consumer, SMB, lending, loans, underwriting, investing
Source: Crunchbase

Hepster
Digital insurance distributer
Latest round: $2 million Seed
Total raised: $2 million
HQ: Cape Town, South Africa
Tags: SMB, merchants, point of sale, POS, insurance
Source: Crunchbase

Finomial
Funds management platform
Latest round: $1.64 million
Total raised: $5.05 million
HQ: New York City
Tags: Enterprise, mutual funds, alternative investments, CRM, investor relations
Source: Crunchbase

Ribbet.me
Blockchain-based rewards platform
Latest round: $1.5 million Seed
Total raised: $1.5 million
HQ: New York City
Tags: Consumer, SMB, blockchain, bitcoin, rewards, smart contracts
Source: Crunchbase

Kwanji
Money transfer price comparisons
Latest round: $700,000 Equity crowdfunding
Total raised: $1.9 million
HQ: London, England, U.K.
Tags: SMB, payments, investing, remittances, FX, discovery, lead gen
Source: Crunchbase

MOVO (MovoCash)
Mobile banking & payments platform
Latest round: $700,000
Total raised: $700,000
HQ: Palo Alto, California
Tags: Consumer, B2B2C, mobile, P2P payments, person-to-person
Source: FT Partners

Kard
Credit card rewards optimization
Latest round: $600,000 Seed
Total raised: $600,000
HQ: New York City
Tags: Consumer, loyalty, payments, rewards, PFM, personal finance, credit/debit cards, spending
Source: Crunchbase

OpenGamma
Improving capital efficiency for derivatives trading
Latest round: $500,000 Debt
Total raised: $23.2 million (includes $2.75 million debt)
HQ: London, England, U.K.
Tags: Enterprise, risk management, trading, investing, compliance
Source: Crunchbase

Obsidian Solutions
Investment management portal
Latest round: $500,000 Seed
Total raised: $516,000
HQ: Toronto, Ontario, Canada
Tags: Enterprise, advisors, investment management, CRM, investor relations
Source: Crunchbase

Trusted Knight
Data security for financial institutions
Latest round: Undisclosed Series B
Total raised: Unknown
HQ: Annapolis, Maryland
Tags: Enterprise, security, fraud protection, risk management, Finovate alum
Source: Finovate

Finagraph
Financial data and BI for small businesses
Latest round: Not disclosed
Total raised: Unknown
HQ: Mercer Island, Washington
Tags: SMB, business intelligence, analytics, data analysis, accounting, Moody’s (investor), Finovate alum
Source: FT Partners

DevCharge
Facilitating payments to machines
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Brno, Czech Republic
Tags: SMB, IoT, developers, payments
Source: Crunchbase

Finance Buddha
Loan-comparison site
Latest round: Not disclosed
Total raised: Unknown
HQ: Bangalore, India
Tags: Consumer, SMB, price comparison, loans
Source: FT Partners

Jurnal.id
Online accounting service
Latest round: Undisclosed
Total raised: Unknown
HQ: Jakarta, Indonesia
Tags: SMB, accounting, bookkeeping, billing, invoicing, receivables, payables
Source: Crunchbase

LoanZen
Receivables financing for small business
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Bangalore, India
Tags: SMB, lending, commercial loans, factoring, receivables financing, trade finance, underwriting
Source: Crunchbase

Peloton
Rich media and communications provider to financial institutions
Latest round: Not disclosed
Total raised: $2 million (prior to latest round)
HQ: Chicago, Illinois
Tags: Enterprise, document management, marketing, communications, media, R.R. Donnelley (investor)
Source: FT Partners

PinClick
Indian real estate platform
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Bangalore, India
Tags: Consumer, real estate, property search, mortgage, lead gen
Source: Crunchbase

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Trusted Knight Lands Series B Funding, Acquires Sentrix Web Technologies Assets

By Julie Muhn (@julieschicktanz) Posted on February 26, 2016
Categories: Funding, Trusted Knight

Data security company Trusted Knight closed a Series B financing round this week. The amount of the funding was undisclosed, and specific investors were not named.

The Maryland-based company will use the funds to expand sales and marketing efforts and accelerate product development.

In addition to the funding, Trusted Knight announced it has acquired Massachusetts-based Sentrix, a company that aims to protect against vulnerability exploits and DDoS attacks. The acquisition brings Sentrix’s Cloud-DMZ, a solution that offers an alternative to a web-application firewall.

The acquisition was finalized in December.

Also this month, Trusted Knight hired Doug Klotnia (pictured) as COO. Klotnia is an industry veteran with 15 years of experience operating and leading businesses. Prior to joining Trusted Knight, he was president of vPromos, a card-connected loyalty and mobile-marketing company.

Trusted Knight launched its Protector Crime Software at FinovateSpring 2013. Protector blocks malware to prevent criminals from getting to sensitive data. The company was founded in 2010. Joseph L. Patanella is CEO.

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Signifyd Raises $20 Million in Series B Led by Menlo Ventures

By David Penn Posted on February 26, 2016
Categories: Funding, Fundings, Signifyd

Along with participation from Allegis Capital, IA Ventures, QED Investors, and individual investors, Bill McKlernan and Tim Eades, anti-fraud specialist Signifyd has raised $20 million in a Series B round led by Menlo Ventures.

“We’re saving our customers millions of dollars in revenue, and merchants of all sizes are taking note,” Signifyd’s CEO and co-founder Rajesh Ramanand said in a statement about the funding. He pointed out that the Series B round is coming only seven months after the company’s successful Series A round as evidence of the company’s growing traction, adding, “We believe the technology we’re applying to e-commerce is the technical foundation for the next generation of insurance products.”

The funding takes Signifyd’s total capital to $31 million.

Rajesh Ramanand, Signifyd co-founder and CEO, demonstrated his company’s Guaranteed Payments solution at FinovateSpring 2013 in San Francisco.

Signifyd will use the new funding to drive growth, scale infrastructure, and “continue to expand its team of world-class fraud experts.”

Signifyd helps e-commerce merchants fight fraud with a tool called the Social Graph. The Social Graph helps merchants determine whether or not the person behind an online transaction is who they say they are. The technology provides merchants with a clear “Accept/Decline” determination on the online customer’s identity, and Signifyd agrees to accept any liability in the event that an “Accepted” transaction is discovered ultimately to be fraudulent. Signifyd calls it “insurance for e-commerce.”

The funding news comes just days after Signifyd announced that it was extending its integration with Shopify Plus. Earlier this month, the company was honored as a finalist in the 2016 BIG Innovation Awards sponsored by the Business Intelligence Group.

Founded in 2011 and headquartered in Palo Alto, California, Signifyd made its Finovate debut at our spring conference in 2013.

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Spreedly Secures $3 Million Financing Round

By Julie Muhn (@julieschicktanz) Posted on February 25, 2016
Categories: Funding, Spreedly

Payments software startup Spreedly closed a $3 million round of funding this week.

Contributors to the round include existing investors, along with Belgian venture fund Emerge, and Harold Mechelynck, a new investor.

The North Carolina-based company, which prides itself on concentrating solely on software for payments, now boasts a total of $5.5 million in funding since it was founded in 2008. The company plans to use the new funds to expand operations, accelerate product development, and introduce new features.

Along with the increase in its venture capital investments, Spreedly has grown as well. On an annualized basis, the company handles a total of $3 billion in transactions, up from $1 billion in June 2015. Spreedly CEO Justin Benson comments on the company’s growth:

Since focusing our business on creating new opportunities for merchants, platforms and payment providers to work together, we’ve substantially increased our customer base, the number of transactions we conduct, and our future potential.

Originally focused on subscription-based payments, Spreedly pivoted in 2013 to launch a credit card vault in the cloud. The new platform enables businesses to securely tokenize client credit card information for repeat transactions across any of the 100+ payment gateways it supports, all while remaining PCI compliant. The company handles 1+ million transactions every month for its 300 clients.

At FinovateSpring 2014, Spreedly’s CEO Justin Benson and Business Development Brendon Prebble showed off the company’s new payment-distribution method and card-on-file updater.

Most recently, at FinDEVr San Francisco 2015, Spreedly CTO Nathaniel Talbott explains how Spreedly’s APIs help navigate the payments ecosystem.

https://finovate.wistia.com/medias/6bzxyw48uo

For more developer-focused presentations, check out our FinDEVr developer showcase in New York on March 29 & 30, 2016. Register by Friday to save on early bird price and lock in your spot.

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