Xignite Raises $20 Million in New Partnership with Tokyo’s QUICK Corporation

Xignite Raises $20 Million in New Partnership with Tokyo’s QUICK Corporation

Xignite_homepage_Feb2016

Go east, young provider of cloud-based market data solutions.

A $20.5 million Series C investment led by Tokyo’s QUICK Corporation has boosted Xignite’s total funding to more than $37 million, and signaled the company’s intention to expand into the Asian market.

Pointing to the “hyper-growth” in Asia and calling the region “the world’s largest fintech frontier,” QUICK president and CEO Noboru Yoshioka said the partnership between his company and Xignite will yield a “unique opportunity to capture growth in this market.” Xignite CEO and founder Stephane Dubois, whose company is demonstrating its latest technologies at FinovateEurope this week, referred to both the flexibility and the openness of his company’s solution as key to providing financial services customers with the data they need.

Xignite_stage_FF2015

Pictured: Stephane Dubois, Xignite CEO and founder, demonstrated Xignite Cloud Streaming at FinovateFall 2015 in New York.

“Financial institutions can no longer afford to operate rigid and proprietary data infrastructures,” Dubois said in a statement. “These legacy institutions must innovate and simultaneously cut costs if they want to survive and thrive in this new paradigm.”

Also participating in the funding round were Altos Ventures, Startup Capital Ventures, and StarVest Partners.

The investment will enable Xignite to increase its sales, marketing, and production capacities in order to keep up with the company’s growth. As part of the deal, QUICK managing director, Atsuyuki Nakajima will join Xignite’s board of directors. QUICK Corporation is a part of the Nikkei Group, and is the largest financial information provider in Japan.

Founded in 2006 and headquartered in San Mateo, California, Xignite demonstrated its Cloud Streaming technology at FinovateFall 2015. The company’s solution is scalable, based on open standards, and has “zero footprint” for clients. Helping power some of fintech’s most innovative companies, e.g., Betterment and Currency Cloud, Xignite has more than 1,000 customers in fields ranging from investing and trading to wealth management. Xignite grew its bookings by more than 50% in 2015, serving more than 455 billion API calls.

Fintech Fundings: 21 Companies Raise $260 Million Week Ending Feb 5

money_treePrivate capital continued to flow into the fintech sector this week with 21 companies raising $257 million. The total included at least $85 million in debt. One Finovate alum raised new cash: London’s Revolut brought in $4.8 million for its global funds-transfer app.

Just five weeks into the new year, fintech companies have raised $4.25 billion in equity and debt worldwide, more than three times the $1.3 billion in the same period last year. And the number of deals is up 70% (125 compared to 74 in 2015).

Here are the fintech deals by size from 30 Jan to 5 Feb 2016:

Credibly 
Small business alt-lender 
Latest round: $70 million Debt
Total raised: $70 million
HQ: Troy, Michigan
Tags: SMB, small biz loans, credit, lending, commercial lending, capital
Source: Crunchbase

Blockstream
Sidechain technology
Latest round: $55 million Series A
Total raised: $76 million
HQ: Montreal, Quebec, Canada
Tags: SMB, consumer, enterprise, blockchain, cryptocurrency, security, ledger, bitcoin
Source: Crunchbase

Spotcap
Alt-lender for small businesses (Rocket Internet)
Latest round: $35 million Series B
Total raised: $56.1 million
HQ: Berlin, Germany
Tags: SMB, credit, underwriting, loans, lending, peer-to-peer, marketplace
Source: Crunchbase

Lamudi
Real estate platform for emerging markets
Latest round: $31.4 million
Total raised: $56.4 million
HQ: Berlin, Germany
Tags: Consumer, mortgage, home buying, property search, investing
Source: Crunchbase

Sonovate
Contract financing and management services for professional recruitment firms
Latest round: $16.5 million Debt
Total raised: $22 million (includes $16.5 million debt)
HQ: London, England, UK
Tags: SMB, credit, receivables financing, management
Source: Crunchbase

Digital Asset
Distributed ledger technology for financial services
Latest round: $10 million
Total raised: $60 million
HQ: New York City
Tags: Enterprise, blockchain, bitcoin, crypto-currency, database, securities trading, custody
FI investors: JP Morgan, BNP Paribas, ABN AMRO, Santander, PNC, Citigroup, Goldman Sachs
Source: Crunchbase

Receipt Bank
Receipt extraction technology
Latest round: $10 million
Total raised: $10 million
HQ: London, England, UK
Tags: Consumer, SMB, accounting, personal financial management, PFM, spending, payments
Source: Crunchbase

Simplex
Credit card acquiring for bitcoin exchanges & wallets
Latest round: $7 million Series A
Total raised: $8 million
HQ: Israel
Tags: B2B, SMB, payments, security, acquiring, credit/debit cards
Source: Coindesk, Crunchbase

Bitcoin Group
Blockchain technology
Latest round: $4.9 million IPO
Total raised: Unknown
HQ: Victoria, Australia
Tags: Consumer, SMB, blockchain, bitcoin, crypto-currency, mining
Source: FT Partners

Revolut
Global person-to-person payments app
Latest round: $4.8 million
Total raised: $7.6 million
HQ: London, England, UK
Tags: Consumer, payments, P2P, remittances, fx, peer-to-peer, mobile, Finovate alum
Source: Finovate

OOO Fit (PayQR)
Mobile payments
Latest round: $3.9 million Seed
Total raised: $5.4 million
HQ: Moscow, Russia
Tags: Consumer, payments, mobile, QR codes
Source: Crunchbase

Quantescent
Trading tools
Latest round: $3.5 million Angel
Total raised: $3.5 million
HQ: Saint Helena, California
Tags: Consumer, traders, advisors, investing, stock trading
Source: Crunchbase

Thumzap
Mobile payments for teens
Latest round: $3 million Seed
Total raised: $3 million
HQ: Wilmington, Deleware
Tags: Consumer, parental controls, payments, mobile, youth market
Source: Crunchbase

Instant Financial
Real-time payroll platform 
Latest round: $1.2 million Seed
Total raised: $1.2 million
HQ: Vancouver, British Columbia, Canada
Tags: Consumer, employer, SMB, human resources, payments, benefits
Source: Crunchbase

Property Moose
Real estate crowdfunding platform
Latest round: $630,000
Total raised: $1.5 million
HQ: London, England, UK
Tags: Consumer, credit, mortgage, underwriting, loans, lending, peer-to-peer, marketplace, crowdfunding, property
Source: Crunchbase

DisputeBills
Consumer healthcare bill & debt management
Latest round: $400,000 Seed
Total raised: $400,000
HQ: Chicago, Illinois
Tags: Consumer, credit, healthcare, debt management, bills, billpay, health insurance
Source: Crunchbase

Birch
Personal finance tool for maximizing credit card rewards
Latest round: $100,000 Seed
Total raised: $100,000
HQ: Gainesville, Florida
Tags: Consumer, spending, personal financial management, PFM, rewards, loyalty
Source: Crunchbase

Moneytis
Money transfer comparison site
Latest round: $55,000
Total raised: $55,000
HQ: San Francisco, California
Tags: Consumer, remittances, P2P transfers, fx, person-to-person
Source: Crunchbase

Invertions Plus
Investment tools
Latest round: $10,000 Seed
Total raised: $10,000
HQ: Spain
Tags: Consumer, advisors, investing, trading
Source: Crunchbase

Kraken
Bitcoin exchange
Latest round: Undisclosed Series B
Total raised: $5 million (prior to the Series B)
HQ: Emeryville, California
Tags: Consumer, SMB, blockchain, bitcoin, crypto-currency, payments
Source: FT Partners

Skuchain
Distributed ledger technology
Latest round: Not disclosed
Total raised: Unknown
HQ: Mountain View, California
Tags: SMB, consumer, enterprise, blockchain, cryptocurrency, security, ledger, trade finance
Source: Crunchbase

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Image licensed from 123rf.com

Revolut Pulls in $4.8 Million

Revolut Pulls in $4.8 Million

Screen Shot 2016-02-05 at 6.06.43 PM

London-based Revolut launched in 2014 under the premise that people should not be charged for spending and transferring their own money in a different currency. This week, the startup closed a $4.8 million round of funding.

The round was led by Balderton Capital. Additional contributors include: Index Ventures, Point Nine Capital, Seedcamp, and Venrex Investment Management.

Combined with the startup’s previous investments, this round brings its total funding to $7.6 million.

In January, Revolut launched version 2.0 of its personal money cloud. Its redesigned app is focused on offering transparency while maintaining an intuitive user experience.

The company’s CEO and Founder Nikolay Storonsky, and CTO Vlad Yatsenko debuted Revolut at FinovateEurope 2015 in London.

Fintech Fundings: 29 Companies Raise $350 Million Week Ending Jan 29; Full Month Tops $4 Billion

Money_circuitFor the third time in that past four weeks a fintech funding record has fallen. This week it was number of companies, beating the total funded two weeks ago by one. As you may recall, last week we set the new mark (by a large margin) for the highest weekly dollar total with $2.7 billion.

All told, last week 29 fintech companies worldwide brought in $352 million, including Finovate alum PinDrop Security, which added $75 million for its voice biometrics tools to fight fraud.

In January, fintech companies raised $4 billion in equity and debt worldwide, almost four times the $780 million raised during January 2015. And the number of deals is up 70% (104 compared to 61 in 2015).

Here are the fintech deals by size from 23 Jan to 29 Jan 2016:

Nexara Holdings
Mortgage startup with two brands: NewFI & Bluestream Lending
Latest round: $100 million Series
Total raised: $100 million
HQ: Emeryville, California
Tags: Consumer, credit, mortgage, underwriting
Source: Crunchbase

Pindrop Security
Anti-fraud technology for financial institutions and others
Latest round: $75 million Series C
Total raised: $122 million
HQ: Atlanta, Georgia
Tags: Enterprise, SMB, fraud, voice biometrics, security, Finovate alum
Source: Finovate

Cadre
Real estate investing platform
Latest round: $50 million Series B
Total raised: $68.3 million
HQ: New York City
Tags: Consumer, advisors, real estate, mortgage, investing, wealth management
Source: FT Partners

Bayut
UAE real estate portal
Latest round: $20 million Series C
Total raised: $29 Million
HQ: Dubai, UAE
Tags: Consumer, home buying, renting, mortgage, real estate
Source: Crunchbase

College Ave Student Loans
Student loan lender
Latest round: $20 million
Total raised: $40 million
HQ: Milwaukee, Wisconsin
Tags: Consumer, credit, youth market, underwriting, lending, loans, FirstTrust Bank (loan originator)
Source: Crunchbase

The Zebra
Car insurance price comparison
Latest round: $17 million Series A
Total raised: $23.03 million
HQ: Austin, Texas
Tags: Consumer, insurance, automobile insurance, price comparison, lead gen, discovery, quotes
Source: Crunchbase

PitchBook
Investment information
Latest round: $10 million Series B
Total raised: Unkown
HQ: Seattle, Washington
Tags: SMB, advisors, enterprise, investing, trading, wealth management
Source: FT Partners

Sprinklebit
Social investing platform
Latest round: $10 million Series A
Total raised: $13.7 million
HQ: New York City
Tags: Consumer, investing, trading, social media
Source: Crunchbase

Sonovate
Contract financing and management services for professional recruitment firms
Latest round: $7.1 Million Series
Total raised: Unknown
HQ: London, England, UK
Tags: SMB, credit, receivables financing, management
Source: FT Partners

Bench
Online bookkeeping service
Latest round: $6.75 million Series
Total raised: $23.5 Million
HQ: Vancouver, British Columbia, Canada
Tags: SMB, bookkeeping, accounting, invoicing
Source: Crunchbase

Wave Accounting
Online accounting & invoicing
Latest round: $6.3 million
Total raised: $6.3 million
HQ: Toronto, Ontario, Canada
Tags: SMB, bookkeeping, accounting, invoicing
Source: Crunchbase

Cumulus Funding
Consumer alt-lender
Latest round: $5.9 million Series
Total raised: $6.75 million
HQ: Chicago, Illinois
Tags: Consumer, credit, underwriting, loans, lending
Source: FT Partners

Kurtosys
Client reporting and information management for financial services
Latest round: $5.2 million Series
Total raised: $25.6 million
HQ: London, England, UK
Tags: Enterprise, advisors, wealth management, hosting
Source: FT Partners

Smartika
Social lending platform
Latest round: $4.9 million
Total raised: $4.9 million
HQ: Milan, Italy
Tags: Consumer, credit, person-to-person, marketplace lender, underwriting, investing
Source: Crunchbase

Vestorly
Content management for financial services
Latest round: $4.1 million Series A
Total raised: $4.1 million
HQ: New York City
Tags: Enterprise, content, investing
Source: FT Partners

Dopay
Electronic payroll system 
Latest round: $2.4 million Series A
Total raised: $8.0 million
HQ: London, England, UK
Tags: B2B2C, SMB, payments, payroll, human resources, underbanked, unbanked, Barclays Accelerator
Source: Crunchbase

Insurify
Car insurance comparison site
Latest round: $2 million Seed
Total raised: $2 million
HQ: Cambridge, Massachusetts
Tags: Consumer, insurance, automobile, car insurance, lead gen, price comparison, discovery
Source: Crunchbase

ClaimKit
Insurance claim management
Latest round: $1.8 million
Total raised: $2.36 million
HQ: Overland Park, Kansas
Tags: Enterprise, insurance claim processing
Source: FT Partners

AlgoMerchant
Investment portal
Latest round: $1.3 million Seed
Total raised: $1.3 million
HQ: Singapore
Tags: Consumer, investing, lead gen, wealth management, discovery, advisors
Source: Crunchbase

Jewel Paymentech 
Risk management for payment acquirers 
Latest round: $1 million
Total raised: $1 million
HQ: Singapore
Tags: SMB, enterprise, security, fraud management, acquirers, merchants, payments
Source: Crunchbase

YoPay
Digital payments
Latest round: $550,000 Seed
Total raised: 550,000
HQ: New York City
Tags: SMB, merchants, credit/debit card acquiring, payments
Source: Crunchbase

bitFlyer
Japanese bitcoin exchange
Latest round: $420,000
Total raised: $7.36 million
HQ: Japan
Tags: Consumer, SMB, bitcoin, cryptocurrency, virtual currency, blockchain
Source: Crunchbase

SatoshiPay
Bitcoin nanopayments
Latest round: $390,000
Total raised: $630,000
HQ: London, England, UK
Tags: Consumer, payments, micro-payments, content, virtual currency
Source: Crunchbase

Billecta
Online invoicing 
Latest round: $140,000
Total raised: $140,000
HQ: Sweden
Tags:SMB, bookkeeping, accounting, invoicing
Source: Crunchbase

Finova Financial
Online vehicle-secured lending
Latest round: $125,000 Seed
Total raised: $125,000
HQ: Palm Beach Gardens, Florida
Tags: Consumer, credit, automobile lending, alt-lender, underwriting
Source: Crunchbase

C2FO
Working capital finance
Latest round: Not disclosed
Total raised: $85 million in prior rounds
HQ: Fairway, Kansas
Tags: SMB, enterprise, credit, receivables financing, trade finance, factoring, underwriting, Citibank (investor)
Source: FT Partners

CreditNation
Loan comparison site
Latest round: Not disclosed
Total raised: Unknown
HQ: Delhi, India
Tags: Consumer, credit, lead gen, price comparison, loans, discovery, lending
Source: Crunchbase

Truebill
Recurring payments management
Latest round: Not disclosed
Total raised: Unknown
HQ: San Francisco, California
Tags: Consumer, payments, personal financial management, billpay, recurring bills, PFM, Ycombinator
Source: Crunchbase

True Potential
Wealth management technology
Latest round: Undisclosed Private Equity
Total raised: Unknown
HQ: London, England, UK
Tags: Advisors, consumer, wealth management, investing
Source: Crunchbase

Finovate Alums Are Top Tech Startup Fundraisers in Four States

Finovate Alums Are Top Tech Startup Fundraisers in Four States

TheUSofStartups_infographic

An interesting infographic from CB Insights reveals four Finovate/FinDEVr alums to be the most well-funded tech startups in their respective states.

“Using CB Insights data, we analyzed the most well-funded startups by state, based on disclosed equity funding,” read the CB Insights blog accompanying the map. The survey did not include debt funding and companies that had to have raised at least $5 million. The survey also excluded Alaska or Hawaii, which had no qualifying startups.

Avalara_FinDEVr2015_logoAvalara (Washington State)

CashStar_Grayscale_Logo_No_TagCashStar (Maine)

edo_Interactive_logoedo Interactive (Tennessee)

 

Kabbage_logoKabbage (Georgia)

For more on funding for Finovate alums, check out our funding year-in-review, Finovate Alums Raise More than $3 Billion in 2015.

Finovate Alums Raise More Than $3 Billion in 2015

Finovate Alums Raise More Than $3 Billion in 2015

moneybag_goldcoinsMaybe it’s passé to say another year was a “banner year” for investment in fintech. But there is no better way to describe the more than $3 billion in funding raised by Finovate alums in 2015.

We previewed our alum funding for 2015 a few weeks ago with a look at investment in European-based alums. Now we present the numbers for the entire world.

Finovate alums by year

Highlights from 2015

  • Worldwide, 116 Finovate alums raised $3.1 billion
  • Credit Karma raised the largest amount of capital, pulling in $175 million in June. Kabbage came in second with $135 million in October.
  • April may be poetry’s cruelest month, but for Finovate alums, it was the most lucrative with $400 million raised by 15 companies. January was a close second, with $340 million raised by 14 companies.
  • April was also the biggest month for number of deals with 15. January, May, and July were a close second with 14 deals each.

Alum funding by month

December

November

October

September

Mergers & Acquisitions: Prosper signals Move into PFM with $30 Million Acquisition of BillGuard.

August

Mergers & Acquisitions: FutureAdvisor acquired by BlackRock.

July

June

May

Honorable mention: Zenefits raises $500 million (company founded by serial entrepreneur Parker Conrad, founder of alums SigFig and Wikinvest).

April

Mergers & Acquisitions: SaveUp purchased by Chicago-area entrepreneur, Paul J. Bart; Early Warning acquires Authentify

March

Mergers & Acquisitions: Multi-Factor Authentication Specialist Toopher Acquired by Salesforce; ReadyforZero Acquired by Avant in cash and stock deal; printer-giant Lexmark to acquire Kofax for $1 billion; LearnVest acquired by Northwestern Mutual for more than $250 million.

February

Mergers & Acquisitions: Samsung acquisition of LoopPay puts Apple Pay on notice.

January

Mergers & Acquisitions: Akimbo Financial acquired by Payment Data Systems.


*New alum; funds raised prior to Finovate appearance.

Funding that companies received before they first appeared at Finovate was not counted in overall totals.

Questions? Comments? Email us at research@finovate.com.

Pindrop Raises $75 Million for Phone-printing Authentication

Pindrop Raises $75 Million for Phone-printing Authentication

PindropHomepage

Voice-fraud prevention and authentication startup Pindrop closed a $75 million funding round. This installment brings the company’s total funding to $122 million since its founding in 2011.

Google Capital, a new investor to the Georgia-based company, led the Series C round. Additional contributors include GV, another new backer, and existing financiers Andreessen Horowitz, IVP, Citi Ventures and Felicis Ventures.

Pindrop works with three of the top-four largest U.S. banks to authenticate their calls using phone-printing technology that analyzes and assigns risk to the caller. The technology helps a bank’s call center answer key questions:

  • Where does the call originate?
  • Is it a trusted number?
  • Does the caller’s voice sound as it should?
  • What device is the caller using?
  • Should the person’s attempt be blocked?

Pindrop will use the new funds to fuel international expansion. The company already has a small office in the United Kingdom, an area in which, according to Fortune, phone-fraud rates are fourfold higher than those in the United States. Pindrop is also in the midst of expanding to Latin America and plans to extend operations into Asia Pacific later this year.

PindropCEOIn a release today, the company notes highlights from 2105:

  • Saved tens of millions of dollars for enterprise customers
  • Tripled revenue in the last year
  • Doubled its customer base in the last year, including adding two of the top-three U.S. banks
  • Protected 360+ million calls

Pindrop CEO Vijay Balasubramaniyan (pictured) debuted the company’s Fraud Detection System at FinovateFall 2012.

Fintech Fundings: 23 Companies Raise $2.7 Billion Week Ending Jan 22

Fintech Fundings: 23 Companies Raise $2.7 Billion Week Ending Jan 22

money_yuanLast week, we set the record for most fintech deals in a single week with 28. This week, we established a new mark (by a large margin) for the highest weekly dollar total with $2.7 billion. The previous record was $1.6 billion the third week of August 2015. These are mind-boggling numbers. Imagine this: Your company, JD.com, raises $1 billion, and you are not even the biggest deal, as Chinese rival Lufax brings in $1.2 billion the very same week.

All told, 23 fintech companies worldwide brought in $2.733 billion. That included four Finovate alums who raised a total of more than $190 million:

Year-to-date, fintech companies have raised $3.5 billion in equity and debt worldwide, almost six times the $680 million raised during the first three weeks of 2015. And the number of deals is up 67% (75 compared to 45 in 2015).

Here are the fintech deals by size from 16 Jan to 22 Jan 2016:

Lufax
Chinese P2P lender
Latest round: $1.22 billion Series B (at $18.5 billion valuation)
Total raised: $1.7 billion
HQ: Shanghai, China
Tags: Consumer, credit, person-to-person, marketplace lender, underwriting, investing, Ping Am (investor)
Source: Crunchbase, Crowdfund Insider

JD Finance
Financial subsidiary of JD.com (direct sales company)
Latest round: $1 billion at $7.1 billion valuation
Total raised: $1 billion
HQ: Chaoyang, China
Tags: Consumer, SMB, credit, deposits, mobile, banking
Source: Crunchbase

WeLab
Consumer alt-credit provider
Latest round: $160 million Series B
Total raised: $180 million
HQ: Hong Kong, China
Tags: Consumer, credit, mobile, underwriting, lending, ING Bank (investor)
Source: Crunchbase

LendUp
Payday loan alternative
Latest round: $150 million Series B (mix of equity/debt)
Total raised: $164 million (mix of equity/debt)
HQ: San Francisco, California
Tags: Consumer, credit, lending, underwriting, mobile, Finovate alum
Source: Finovate

Digital Asset
Distributed ledger technology for financial services
Latest round: $50 million
Total raised: Unknown
HQ: New York City, New York
Tags: Enterprise, blockchain, bitcoin, cryptocurrency, database, securities trading, custody
FI investors: JP Morgan, BNP Paribas, ABN AMRO, Santander, PNC, Citigroup
Source: FT Partners

BlueVine
Small-business invoice factoring
Latest round: $40 million Series C
Total raised: $64 million
HQ: Palo Alto, California
Tags: SMB, credit, factoring, accounts receivables financing, underwriting, commercial credit, Finovate alum
Source: Finovate

Blend Labs
Mortgage processing platform
Latest round: $40 million Series C
Total raised: $65 million
HQ: San Francisco, California
Tags: Enterprise, mortgage banking/brokers, credit, home loans, process automation
Source: FT Partners

Zameen.com
Pakistani residential real estate portal
Latest round: $2o million Series C
Total raised: $29 million
HQ: Lahore, Pakistan
Tags: Consumer, real estate, lead gen, mortgage, home buying, agents
Source: Crunchbase

Housing.com (aka Locon Solutions)
Indian residential real estate portal
Latest round: $14.7 million Series
Total raised: $154.2 million
HQ: Mumbai, India
Tags: Consumer, real estate, lead gen, mortgage, home buying, agents
Source: Crunchbase

Travelers Box
Kiosk to convert foreign coins and currency into gift cards
Latest round: $10 million Series
Total raised: $14.5 million
HQ: Istanbul, Turkey
Tags: Consumer, FX, hardware, gift cards
Source: Crunchbase

Neyber
Platform for employers to lend to employees
Latest round: $8.56 million Series
Total raised: $8.56 million
HQ: London, England, United Kingdom
Tags: Consumer, B2B2C, credit, underwriting, HR, employee benefits, loans
Source: Crunchbase

PayIt
Government mobile payment processor
Latest round: $4.5 million Series A
Total raised: $4.5 million
HQ: Kansas City, Missouri
Tags: Consumer, payments, tickets, B2G2C, merchants, acquiring, debit/credit cards
Source: Crunchbase

CapLinked
Cloud-based platform for coordinating asset sales, financings and M&A
Latest round: $3.5 million
Total raised: $9.4 million
HQ: Manhattan Beach, California
Tags: SMB, deals, investing, investment banking, advisers, Peter Thiel (investor)
Source: Crunchbase, American Banker

Solovis
Investment management platform for advisers
Latest round: $3.25 million
Total raised: $3.5 million
HQ: Birmingham, Alabama
Tags: Investment managers, wealth management, investing, insurance, family office
Source: Crunchbase

LoanHero
Point-of-sale financing
Latest round: $2.5 million Seed
Total raised: $4.6 million
HQ: La Jolla, California
Tags: Consumer, credit, POS, underwriting, loans, purchase financing, tablet
Source: Crunchbase

EasyPolicy
Indian insurance portal
Latest round: $2.2 million Seed
Total raised: $2.2 million
HQ: Uttar Pradesh, India
Tags: Consumer, insurance, lead gen, price comparison, car/auto, life
Source: Crunchbase

Linxo
Personal financial manager
Latest round: $2.18 million Seed
Total raised: $2.18 million
HQ: Aix-en-Provence, France
Tags: Consumer, personal finance management, PFM, spending, budgeting, mobile, Finovate alum
Source: Finovate

Cashforce
Enterprise cash management
Latest round: $1.1 million
Total raised: Unknown
HQ: Herentals, Belgium
Tags: Enterprise, SMB, accounting, cash management, treasury, commercial banking
Source: Let’s Talk Payments

Fisdom
Mobile personal investing
Latest round: $500,000 Seed
Total raised: $500,000
HQ: Bangalore, India
Tags: Consumer, investing, savings, personal finance
Source: Crunchbase

IP Commerce
SMB accounting technology (CommerceSync)
Latest round: Undisclosed Series A
Total raised: Unknown
HQ: Denver, Colorado
Tags: SMB, accounting, developers, ecommerce, financial management, payments, Finovate alum
Source: Finovate

Central Technology Services
Software and IT financing
Latest round: Not disclosed
Total raised: Unknown
HQ: Oakville, Ontario, Canada
Tags: SMB, enterprise, commercial credit, asset financing
Source: FT Partners

EPS
Retail banking and ATM technology
Latest round: Not disclosed
Total raised: $10 million (previously)
HQ: Mumbai, India
Tags: Financial institutions, B2B2C, deposits, banking, payments
Source: FT Partners

Precidian
Investment management
Latest round: Not disclosed
Total raised: Unknown
HQ: Bedminster, New Jersey
Tags: Enterprise, mutual funds, ETFs, trading, advisers, wealth management, Legg Mason (investor)
Source: FT Partners

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Image licensed from 123rf.com

Linxo Raises €2 Million from Crédit Agricole

Linxo Raises €2 Million from Crédit Agricole

Linxo_homepage_Jan2016

French PFM innovator Linxo (a FinovateEurope 2011 alum) has raised €2 million in funding from new investor Crédit Agricole, and existing investor Crédit Mutuel Arkéa. Having raised €500,000 in 2013, the company’s total capital now stands at more than $2.6 million.

The investment will help strenghten Linxo’s position in France, as well as fund the company’s expansion into other European markets. Linxo also plans to add talent to both its technical and communications teams.

Linxo_stage_FEU2011

From left: Co-founders Hugues Pisapia, managing director, and CEO Bruno Van Haetsdaele demonstrated the Linxo platform at FinovateEurope 2011.

Bruno Van Haetsdaele and Hugues Pisapia, Linxo co-founders, said the investment was a show of confidence in their platform. “These investors confirm our development while leaving us the independence and autonomy to continue to grow rapidly,” said Van Haetsdaele. The pair says the trust of leading banking players showed a strong signal of confidence in the security of Linxo’s solution and the sustainability of their business model.

Linxo specializes in personal finance management and savings-optimization solutions for consumers. It’s the first account-aggregation service supported by French FIs. More than simply aggregating accounts, Linxo has opened up its platform to application developers looking to build features such as partner dashboards, rewards and offers programs, and more.

Linxo demonstrated its platform at FinovateEurope 2011 in London. Founded in 2010 and headquartered in Aix-en-Provence, France, Linxo employs seven and says its platform has been used by more than 850,000 businesses and individuals.

IP Commerce Closes Series A Round

IP Commerce Closes Series A Round

IPCommerceHomepage

This week, small business software company IP Commerce landed its first round of funding since it was founded in 2007. The amount was undisclosed.

Top-name investors contributed to the round:

  • First Data Ventures
  • Intel Capital
  • Meritage Funds
  • Camp One Ventures
  • Augury Capital Partners
  • Service Provider Capital

The company’s flagship product, Commerce Sync, helps its 7,000+ small business clients eliminate manual data entry by syncing sales information with their accounting platform. IP Commerce holds partnerships with Clover, Stripe, Square, Quickbooks, and Xero.

IP Commerce company will use the funds to expand its workforce and enhance the functionality of Commerce Sync.

First Data’s Peter Karpas, global head of SMB Solutions, has been appointed to IP Commerce’s board of directors.

IP Commerce is based in Denver. The company debuted its Multi-party Payments Commerce Playlist at FinovateSpring 2012.

LendUp Raises $150 Million in Series B, Expanded Credit Facility

LendUp Raises $150 Million in Series B, Expanded Credit Facility

LendUp_homepage_Jan2016

San Francisco-based alternative lender LendUp has raised $150 million in a combined Series B funding round and expanded credit facility.

The Series B, which involved participation from “almost all” of LendUp’s existing investors, was led by Susa Ventures and Data Collective. Victory Park Capital participated in the investment, as well as providing LendUp with a second credit facility. According to LendUp CEO Sasha Orloff, the expanded credit facility will help the company provide new “national products” and reach more customers.

LendUp_stage_FS2014

From left: LendUp Co-founder Sasha Orloff and CTO Jacob Rosenberg demonstrated their platform at FinovateSpring 2014.

Founded in 2011 and launched the following year, LendUp specializes in providing credit products to the millions of U.S. consumers who aren’t able to borrow from traditional banks. These products include the LendUp Ladder, an alternative to payday loans that helps borrowers rebuild their credit, and a new credit card business, the L Card, launched last year.

Named one of “30 Hot Fintech Startups to Watch” by Fox Business in June 2015, and earning a spot on AlwaysOn’s On Finance Top 100 in April 2015, LendUp demonstrated its platform at FinovateSpring 2014. The company has more than 130 employees and anticipates doubling staff by the end of the year.

Finovate’s European Alums Raised More Than $350 Million in 2015

Finovate’s European Alums Raised More Than $350 Million in 2015

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Nineteen Finovate alums headquartered in Europe raised $350 million in 2015.

From the $16,000 in seed money raised by U.K. startup, StockViews, to the €82 million investment received by Germany’s Kreditech, we’ve counted every euro, pound, and dollar that investors poured into our European alums. And whether the funding represented an initial infusion of capital or was part of a multi-stage Series E round, it is clear that investors are very interested in the fintech innovations of Europe.

Take a look for yourself at the “European Portfolio” from 2015 below, featuring Finovate alums from the United Kingdom, Ireland, Germany, Switzerland, and the Netherlands.

GermanFlagGermany

 

Ireland_FlagIreland

 

Netherlands_FlagThe Netherlands

 

 

Switzerland_Flag

 

Switzerland

 

 

UK_FlagUnited Kingdom


There’s still time to join us in London for FinovateEurope! Our two-day conference returns to Old Billingsgate Market Hall, February 9 and 10. Get your tickets today and save your spot.