Funding

BlueVine Raises $40 Million in Round Led by Menlo Ventures

BlueVine Raises $40 Million in Round Led by Menlo Ventures
By David Penn Posted on
Categories: BlueVine, Funding, Fundings

BlueVine_homepage_Jan2016

BlueVine, a startup that provides financing for small businesses, has raked in $40 million in new funding. The Series C round, led by Menlo Ventures, featured participation from new investor, Rakuten, and boosts BlueVine’s total capital to more than $64 million.

In a post at the company blog, BlueVine founder, CEO Eyal Lifshitz, said the investment would help “bolster its management ranks” as well as drive new feature development and exploration of new verticals. “With this capital infusion,” Lifshitz said, “our team is excited to work with more SMB owners to solve their cash-flow challenges on a greater scale.” BlueVine also announced an expansion of its maximum credit line from $150,000 to $250,000.

BlueVine_stage_FF2014

From left: BlueVine VP of Operations Edward Castano and CEO Eyal Lifshitz demonstrated their platform at FinovateFall 2014 in New York.

BlueVine specializes in cloud-based “invoice financing,” also called “factoring.” The practice helps small- and medium-sized businesses manage cash flow and payment cycles by advancing cash against outstanding invoices via a simple, online solution. BlueVine enables SMEs to get paid on “day one” for invoices due in 15-90 days with credit lines starting at $5,000. BlueVine reported a 12-fold increase in funded invoices in 2015 and expects to fund more than $200 million in working capital in 2016. Tyler Sosin of Menlo Ventures praised the company for “bringing automation and a modern web experience to factoring, a massive market that has yet to be optimized by technology.”

Founded in July 2013 and headquartered in Palo Alto, California, BlueVine demonstrated its technology at FinovateFall 2014. BlueVine’s approach to factoring was profiled by PYMNTS.com in September and, in February, the company was highlighted by Fast Company as one of “The World’s Top 10 Most Innovative Companies of 2015 in Money.”

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Fintech Fundings: 28 Companies Raise $330 Million Week Ending Jan 15

By Jim Bruene Posted on
Categories: Funding

HappyNewYear_MoneyThe year continues its blistering pace with 28 companies worldwide raising new funds this week, the biggest number since we began tracking in July 2014. In total, $332 million was invested with the majority being equity (only $19 million was identified as debt in public comments).

Four Finovate alums made up 40% of the weekly total:

Year-to-date fintech companies have raised $450 million in new equity, 67% more than the $270 million raised in the first half of January 2015. In addition, another $350 million in debt has been added to startups’ balance sheets this year, compared to zero in 2015. So the combined YTD debt and equity total of $800 million is triple the 2015 total. Finally, the number of deals is up 63% (52 compared to 32 in 2015).

Here are the deals by size from 9 Jan to 15 Jan 2016:

Starling
Startup digital bank
Latest round: $70 million
Total raised: $70 million
HQ: London, England, United Kingdom
Tags: Consumer, credit, deposits, mobile, banking
Source: Crunchbase

App Annie
Mobile analytics 
Latest round: $63 million Series E (mostly equity)
Total raised: $157 million
HQ: San Francisco, California
Tags: Mobile, app development, Silicon Valley Bank (lender), Finovate alum
Source: Finovate

Duanrong
Person-to-person lender
Latest round: $59 million Series B ($153 million valuation)
Total raised: $69 million
HQ: Bejing, China
Tags: Consumer, credit, lending, loans, underwriting, investing, P2P, person-to-person
Source: Crunchbase

Taulia
Financial supply chain management
Latest round: $46 million
Total raised: $136.7 million
HQ: San Francisco, California
Tags: SMB, invoicing, payments, accounts receivables, accounts payable, Finovate alum
Source: Finovate

RealtyMogul
Online marketplace for real estate investing
Latest round: $18.4 million ($1.5 million equity, $16.9 million debt)
Total raised: $63.4 million (including $16.9 million debt)
HQ: Los Angeles, California
Tags: Consumer, SMB, credit, lending, loans, underwriting, investing, P2P, commercial mortgages, investment property, Finovate alum
Source: FT Partners

PolicyGenius
Person-to-person student loan lender
Latest round: $15 million Series B
Total raised: $21.05 million
HQ: Brooklyn, New York
Tags: Consumer, insurance (life, pet, renters, disability), quotes, lead gen
Source: Crunchbase

Ping++
Integrated payment processor
Latest round: $10 million Series B
Total raised: Unknown
HQ: Shanghai, China
Tags: Enterprise, B2B2C, payments, mobile, SDK, API, developers, credit/debit cards
Source: Crunchbase

Mambu
SaaS banking platform
Latest round: $8.73 million Series B
Total raised: $13.1 million
HQ: Berlin, Germany
Tags: Enterprise, digital banking platform, Finovate alum
Source: Finovate

FINCAD
Derivative risk management
Latest round: $7 million Debt
Total raised: Unknown
HQ: Surrey, British Columbia, Canada
Tags: Enterprise, investing, trading, risk management, security, compliance
Source: Crunchbase

Symbiont
Blockchain technology for securities
Latest round: $7 million
Total raised: $7 million
HQ: New York City
Tags: Enterprise, investing, cyrpto-currency, blockchain
Source: Crunchbase

FinanceFox
Mobile insurance brokerage
Latest round: $5.5 million
Total raised: $5.5 million
HQ: Berlin, Germany
Tags: Consumer, insurance, policy management, mobile
Source: Crunchbase

Unwired
Mobile banking app developer for financial institutions
Latest round: $4.8 million
Total raised: $9.4 million
HQ: Austin, Texas
Tags: Enterprise, B2B2C, mobile banking, digital banking
Source: Crunchbase

Vericred
Health insurance information provider
Latest round: $3.1 million Seed
Total raised: $4.2 million
HQ: New York City
Tags: Consumer, insurance, health care, comparison shopping, API, developers
Source: FT Partners

Moneybox
Millennial saving & investing app
Latest round: $3 million Seed
Total raised: $3 million
HQ: London, England, United Kingdom
Tags: Consumer, savings, investing, youth
Source: Crunchbase

Questis
Financial coaching as an employee benefit
HQ: Charleston, South Carolina
Latest round: $2.8 million
Total raised: $6.3 million
Tags: Personal financial management, advice, PFM, retirement planning, employee benefits, insurance
Source: FT Partners

Coindrum
Exchange unwanted foreign coins for shopping vouchers
Latest round: $2 million
Total raised: $2 million
HQ: Dublin, Ireland
Tags: Consumer, payments, hardware
Source: Crunchbase

Lift Credit
Online consumer lending
Latest round: $1.8 million Debt
Total raised: Unknown
HQ: Provo, Utah
Tags: Consumer, credit, lending, loans, underwriting
Source: Crunchbase

FI Navigator
Data analytics for financial services companies
Latest round: $1.5 million
Total raised: $1.5 million
HQ: Atlanta, Georgia
Tags: Enterprise, BI, metrics, analytics, big data
Source: Crunchbase

Minkasu
Mobile payments platform
Latest round: $1 million Seed
Total raised: $1.75 million
HQ: Milpitas, California
Tags: Consumer, payments, mobile, wallet
Source: Crunchbase

Investly
Person-to-person small biz lending platform
Latest round: $653,000
Total raised: $673,000
HQ: Tallinn, Estonia
Tags: SMB, credit, lending, loans, underwriting, investing, P2P, business loans, crowdfunding
Source: Crunchbase

CapitalPitch
Startup capital raising platform
Latest round: $600,000 Seed
Total raised: $600,000
HQ: Sydney, Australia
Tags: SMB, capital, crowdfunding, equity, investing
Source: Crunchbase

ResiModel
Multi-family lending management
Latest round: $500,000
Total raised: $1.4 million
HQ: New York City
Tags: SMB, enterprise, commercial lending, non-residential real estate, underwriting, investing
Source: Crunchbase

Charity Bank
Digital bank serving non-profits
Latest round: $364,000
Total raised: Unknown
HQ: Tonbridge, England, United Kingdom
Tags: Consumer, non-profit, credit, deposits, savings accounts
Source: Crunchbase

TransferFast
Funds transfers between banks
Latest round: $164,000
Total raised: $164,000
HQ: Tallinn, Estonia
Tags: Consumer, payments, interbank transfers, banking
Source: Crunchbase

Sestertium
Person-to-person student loan lender
Latest round: $160,000
Total raised: $160,000
HQ: Udine, Italy
Tags: Consumer, investing, gamification, crowdsourcing
Source: FT Partners

Facepay
Mobile payments
Latest round: $50,000 Angel
Total raised: $150,000
HQ: California
Tags: Consumer, payments, mobile
Source: Crunchbase

Transaction Network Services (TSN)
Data communications for financial services firms
Latest round: Not disclosed Private Equity
Total raised: Unknown
HQ: Reston, Virginia
Tags: Consumer, credit, lending, loans, underwriting, investing, P2P, student loans
Source: FT Partners

W.A.G. Payment Solutions (Eurowag)
Vehicle fleet payment solutions
Latest round: Not disclosed
Total raised: Unknown
HQ: Boston, Massachusetts
Tags: Consumer, credit, lending, loans, underwriting, investing, P2P, student loans
Source: FT Partners

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Taulia Raises $46 Millon in Series E; Names New CFO

Taulia Raises $46 Millon in Series E; Names New CFO
By David Penn Posted on
Categories: Funding, Fundings, Taulia

Taulia_homepage_Jan2016

In a round led by Zouk Capital, financial supply-chain specialist Taulia has raised $46 million in new funding.

A number of unnamed, new strategic and institutional investors participated in the round, as well as all of Taulia’s existing institutional investors. The new infusion of capital takes the company’s total to more than $130 million.

Taulia CEO Cedric Bru said the investment would help “further accelerate (Taulia’s) rapid expansion,” and praised the “global experience” of his company’s investors. “We are in the best position to fuel the next stage of Taulia’s explosive growth,” he said.

Taulia_stage_FEU2015

Pictured (left to right): Taulia Director of European Marketing Matthew Stammers and Director of European Solutions Consulting Christophe Juvanon demonstrating Taulia Enhanced Discounting at FinovateEurope 2015.

Zouk Capital CEO Samer Salty praised Taulia’s ability to “streamline and strengthen” the financial supply chain. Salty called the company a “clear match” with his firm’s strategy of “backing high-growth companies that use technology to create efficiency.”

Taulia uses advanced e-invoicing, supplier management, and supplier financing to help connect companies like Coca-Cola Bottling, Hallmark, John Deere, and other Fortune 500 firms to their suppliers. Since inception, Taulia has processed more than $150 billion in transactions for 700,000 suppliers in more than 100 countries.

Recent headlines for the company include its partnership with KPMG, announced in December, and joining the OFS Portal community in November. In July, Taulia earned a spot in CIO Review’s 20 Most Promising Procurement Solution Providers for 2015.

Taulia also announced today that John Varughese had joined the company as its new Chief Financial Officer. Formerly of Perella Weinberg Partners, Varughese will be responsible for all finance, legal, and human resource operations at Taulia. Bru, who joined Taulia as CEO last April, praised Varughese’s “strategic leadership and significant entrepreneurial experience.”

“(Varughese) helped some of the biggest names in Silicon Valley succeed,” Bru added, “and we can’t wait to put his skills to work as an integral part of our leadership team.”

Founded in 2009 and headquartered in San Francisco, Taulia demonstrated Taulia Enhanced Discounting (TED) at FinovateEurope 2015. The company also has offices in London, Dusseldorf, and Sofia.

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App Annie Reels in $63 Million

App Annie Reels in $63 Million
By Julie Muhn (@julieschicktanz) Posted on
Categories: App Annie, Funding

AppAnnieHomepage

App analytics, market data, and insights company, App Annie, closed on $63 million in debt and equity funding today.

The Series E round, consisting of “mostly equity,” was led by Greenspring Associates. Previous investors e.Ventures, Greycroft Partners, Institutional Venture Partners, and Sequoia Capital contributed to the equity, while Silicon Valley Bank furnished the debt.

This is the company’s sixth and largest round of funding, which now totals $157 million. The funds will be used to improve and expand upon the company’s products, as well as scale its business operations.

AppAnnieProduct

App Annie also announced that Netsuite CEO Zach Nelson has joined its board of directors. This follows the company’s recent hiring spree of C-level execs, including Chief Financial Officer Mark Vranesh and Chief Revenue Officer Ted Krantz.

According to TechCrunch’s interview with App Annie CEO Bertrand Schmitt, the company is open to acquisitions in 2016, adding to its acquisitions of Mobidia and Distimo in 2015. Additionally, Schmitt made it clear that App Annie will not file for an IPO in 2016.

App Annie has 425 employees across 15 offices around the globe. The San Francisco-based company has 500,000 members, hundreds of which pay a yearly subscription fee, averaging $80,000, for advanced services. App Annie was recently recognized by Deloitte for its 54X revenue growth between 2011 and 2014.

The company demoed at FinovateAsia 2013 in Singapore.

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Fintech Fundings: 24 Companies Raise $570 Million Week Ending 8 Jan

By Jim Bruene Posted on
Categories: Funding

HappyNewYear_MoneyThe year is off to a big start with 24 companies raising $569 million in the first week of 2016. However, three-quarters of that ($425 million) was additional debt for three big alt-lenders: Finovate alum LoanNow ($50 million) along with CommonBond ($275 million) and Qredits ($100 million).

The $138 million in new equity last week was 25% more than the $110 million from the same week a year ago. And the number of deals was up 40% (24 compared to 17).

In addition to LoanNow, Finovate alums attracting new capital included:

Here are the deals by size from 1 Jan to 8 Jan 2016:

CommonBond
Person-to-person student loan lender
Latest round: $275 million Debt
Total raised: $319.7 million ($44.7 million Equity, $275 million Debt)
HQ: New York City, New York
Tags: Consumer, credit, lending, loans, underwriting, investing, P2P, student loans
Source: Crunchbase

Qredits
Dutch person-to-person SMB lender
Latest round: $100 million Debt
Total raised: Unknown
HQ: The Netherlands
Tags: SMB, credit, lending, loans, underwriting, investing, P2P, alt-lender, marketplace lender, European Investment Bank (lender)
Source: Crunchbase

NuBank
Brazilian neo-bank
Latest round: $52 million Series C
Total raised: $98.3 million
HQ: Sao Paulo, Brazil
Tags: Consumer, mobile, debit card, neobank, personal finance, PFM
Source: Crunchbase

LoanNow
Consumer alt-lender
Latest round: $50 million Debt
Total raised: $56 ($6 million Equity, $50 million Debt)
HQ: Santa Ana, California
Tags: Consumer, credit, lending, loans, underwriting, Finovate alum
Source: Finovate

Toast
Person-to-person lender
Latest round: $30 million Series B
Total raised: $30 million
HQ: Boston, Massachusetts
Tags: SMB, point-of-sale, merchants, restaurants, bars, credit/debit cards
Source: Crunchbase

Lendful Financial
Online alt-lender
Latest round: $15 million
Total raised: $15 million
HQ: Vancouver, British Columbia, Canada
Tags: Consumer, credit, lending, loans
Source: Crunchbase

freee
Online accounting
Latest round: $8.3 million Series D
Total raised: $55.5 million
HQ: Tokyo, Japan
Tags: SMB, accounting, billpay, invoicing
Source: Crunchbase

Street Contxt
Financial communications platform
Latest round: $8 million Series A
Total raised: $8 million
HQ: Toronto, Ontario, Canada
Tags: Advisers, wealth management, investing, enterprise
Source: Crunchbase

Gem
Blockchain technology
Latest round: $7.1 million Series A
Total raised: $7.1 million
HQ: Venice, California
Tags: Enterprise, bitcoin, cryptocurrency, database
Source: Finovate

Direct Match
Trading venue for U.S. Treasuries
Latest round: $6 million Series A
Total raised: $9 million
HQ: New York City, New York
Tags: Investing, trading, enterprise, SMB
Source: Crunchbase

StartEngine
Equity crowdfunding platform
Latest round: $5.5 million
Total raised: $5.5 million
HQ: Santa Monica, California
Tags: SMB, equity crowdfunding, capital, investing, P2P
Source: FT Partners

KnCMiner
Bitcoin mining hardware
Latest round: $3 million
Total raised: $32 million
HQ: Stockholm, Sweden
Tags: Bitcoin, cryptocurrency, hardware, blockchain
Source: Crunchbase

Xfers
Asian payment gateway
Latest round: $2.5 million Seed
Total raised: $2.5 million
HQ: Singapore
Tags: Consumer, payments, remittances
Source: Crunchbase

Snapcart
Consumer receipt manager
Latest round: $1.68 million
Total raised: $1.68 million
HQ: Jakarta, Indonesia
Tags: Consumer, debit/credit cards, mobile, spending, PFM
Source: Crunchbase

CUneXus Solutions
Consumer lending software for financial institutions
Latest round: $1 million
Total raised: $1.65 million
HQ: Santa Rosa, California
Tags: Consumer, credit, lending, loans, underwriting, enterprise, Finovate alum
Source: Finovate

Deposit Solutions
Deposit software for financial institutions
Latest round: $1.0 million Series A
Total raised: $7.0 million
HQ: Hamburg, Germany
Tags: Consumer, Peter Thiel (investor)
Source: Crunchbase

Zebpay
Person-to-person lender
Latest round: $1 million Series A
Total raised: $1.1 million
HQ: Singapore
Tags: Consumer, payments, P2P, bitcoin, blockchain, cryptocurrency, mobile
Source: Crunchbase

Toborrow
SMB P2P lender
Latest round: $350,000
Total raised: $2.74 million
HQ: Stockholm, Sweden
Tags: SMB, loans, credit, peer-to-peer, underwriting, crowdfunding, investing
Source: Crunchbase

Cuvva
Short-term automobile insurer
Latest round: $590,000
Total raised: $590,000
HQ: Edinburgh, Scotland, United Kingdom
Tags: Consumer, insurance, automobile, mobile
Source: FT Partners

Nestiny
Homebuyer education website
Latest round: $350,000 Angel
Total raised: $350,000
HQ: Manakin Sabot, Virginia
Tags: Consumer, mortgage, real estate, home buying, agents, lead gen
Source: Crunchbase

Buckit (StashLLC)
Consumer receipt manager
Latest round: $143,000 Seed
Total raised: $143,000
HQ: Toronto, Ontario, Canada
Tags: Consumer, debit/credit cards, mobile, spending, PFM
Source: Crunchbase

Agent Review
Insurance education and agent referrals
Latest round: Undisclosed
Total raised: Unknown
HQ: Bellevue, Washington
Tags: Consumer, insurance, agents, lead gen
Source: FT Partners

Patientco
Healthcare payment technology
Latest round: Undisclosed
Total raised: $3.75 million prior to latest round
HQ: Atlanta, Georgia
Tags: SMB, healthcare, payments
Source: FT Partners

Tiendo Pago
Short-term working capital provider
Latest round: Undisclosed
Total raised: Unknown
HQ: Lima, Peru
Tags: SMB, lending, loans, commercial lending, underwriting, alt-lender, Accion (investor)
Source: FT Partners

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Mambu Pulls in $8.7 Million to Replace Core Banking

Mambu Pulls in $8.7 Million to Replace Core Banking
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Mambu

MambuHomepage

Mambu, creator of a cloud-based SaaS banking platform, raised $8.7 million (€8 million) this week. Combined with the $1.5 million the company picked up in February 2013, its funding now tops $10.6 million.

The round was led by Acton Capital Partners and CommerzVentures; existing investors also contributed.

Mambu CEO Eugene Danilkis speaks to the purpose of the new investment:

We are building out the product and onboarding customers in multiple geographies. We are excited that this new capital will allow us to deploy faster, and to better support our global client base as we continue to enable the next generation of banking service providers.

In more specific terms, Mambu plans to use the funds to:

  • Expand its commercial team
  • Increase investment into the platform
  • Open additional offices to support growth in Asia and the Americas

The Berlin-based company showcased its core banking application at FinovateAsia 2013, highlighting its holistic approach that helps banks of any size create and service loan and deposit products. Founded in 2011, Mambu seeks to replace core banking by offering faster access to technology at a lower cost.

Over the past year, Mambu has added 30+ new customers and has added support for P2P and SME lending methods.

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CUneXus Raises $1 Million, Signs Partnership with Edmunds.com

CUneXus Raises $1 Million, Signs Partnership with Edmunds.com
By Julie Muhn (@julieschicktanz) Posted on
Categories: CUneXus, Funding

CUneXusHomepage

EdmondsHomepageCUneXus, developer of sales and marketing technologies for lenders, raised $1 million in new equity funding from an unnamed strategic partner. Combined with a 2013 seed round, the company’s total funding stands at $1.7 million.

The California-based company plans to use the funding to support a number of initiatives, including a product launch with newly signed partner, Edmunds.com, an online resource for car buyers and sellers.

While the details of the project are still under wraps, CUneXus plans to unveil the new product this spring.

At FinovateSpring 2014, CUneXus debuted cplXpress, a suite of lending-automation tools that offer perpetual, pre-approved loan offers across multiple products. With cplXpress, financial institutions send customers personalized offers via the channel that best fits their preferred communication method.

CUneXusProducts

A recent case study from Harland Clarke cited a credit union that achieved 700%+ ROI during a nine-week campaign using technology powered by cplXpress. The 36,000 members responded at a rate of 2.5%, more than 2x the typical rate, and booked loans at a rate of 2.2%. At the end of the nine-week period, the credit union grew loan balances by $6.2 million.

In October 2015, CUneXus partnered with Digital Insight and will leverage the partnership to resell CUneXus’ cplXpress to its financial institution customers.

CplXpress integrates with a number of financial technologies, including those offered by FIS, Digital Insight, D+H, MeridianLink and more.

CUneXus unveiled new online and mobile interfaces, mobile document delivery, e-signature, and point-of-sale lending capabilities at FinovateSpring 2015 in San Jose. The company is based in Santa Rosa, Calif., and Dave Buerger is CEO.

 

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Gem Raises $7 Million in Series A

Gem Raises $7 Million in Series A
By David Penn Posted on
Categories: Funding, Fundings, Gem

Gem_homepage_FinDEVr2015

In a round led by Pelion Venture Partners, blockchain technology specialist and FinDEVr alum Gem raised $7.1 million in funding. Also participating in the Series A were:

  • Amplify.LA
  • Blockchain Capital
  • Danmar Capital
  • Digital Currency Group
  • Drummond Road Capital
  • KEC Ventures
  • RRE Ventures
  • Tamarisk Global
  • Tekton Ventures

Angel investor James Joaquin also participated in the financing, which takes Gem’s total capital to $12 million, according to Crunchbase. Ben Dahl of Pelion Venture Partners and Bitium CEO Scott Kriz will join Gem’s board of directors.

Gem_stage_FinDEVr2015

Gem CEO and founder Micah Winkelspecht spoke on “Redefining Banking from the Ground Up” at FinDEVr 2015 in San Francisco.

In a statement at the Gem blog, the company highlighted its vision for distributed ledger technology as part of a “‘blockchain economy’ that forms the underlying architecture of our daily lives: from capital markets to patient care, supply chains to logistics, property rights to digital rights management.”

Gem makes it easier for companies to use blockchain technology by turning complex processes into modular, bitcoin APIs and then leveraging its platform to scale and automatically deploy. Gem recently developed a multi-signature bitcoin API for developers, and is currently building a “modular platform for blockchain applications” that has broad-use cases for many different industries.

Founded in 2014 and headquartered in Venice, California, Gem debuted at FinDEVr 2015.

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Fintech Fundings: 8 Companies Raise $70 Million Week Ending 31 Dec

Fintech Fundings: 8 Companies Raise $70 Million Week Ending 31 Dec
By Jim Bruene Posted on
Categories: Funding

HappyNewYear_MoneyAs expected, the year ended on a relatively quiet note with just eight companies raising $71.5 million. More than half the total ($46 million) went to Chinese P2P lender Weijinsuo.

The year ends with a total of about $19 billion invested into private fintech companies (includes debt and equity). If you add the $6 billion in new capital raised in the IPOs of Worldpay, Square and First Data, the 2015 total is a nicely even $25 billion.

It is unlikely we’ll see that much in 2016, but the fintech sector is vast, and there are fascinating opportunities for newcomers and existing brands alike.

Here are the deals by size from 26 Dec to 31 Dec 2015:

Weijinsuo
Person-to-person lender
Latest round: $46 million Series A
Total raised: $46 million
HQ: Bejing, China
Tags: Consumer, credit, lending, loans, underwriting, investing, P2P
Source: Crunchbase

Roofstock
Enabling investments in rental real estate
Latest round: $7 million Series
Total raised: $7 million
HQ: Oakland, California
Tags: Consumer, investing, real estate, rental properties
Source: Crunchbase

MobiKwik
Mobile wallet
Latest round: $6.6 million Series B
Total raised: $36.9 million
HQ: Gurgaon, India
Tags: Consumer, payments, mobile wallet, billpay, P2P payments
Source: Crunchbase

Ayannah
Payments and commerce solutions for unbanked in emerging markets
Latest round: $3 million Series B
Total raised: $7.5 million
HQ: Laguna Hills, California
Tags: Enterprise, payments, underbanked, financial inclusion
Source: Crunchbase

Picwell
Health insurance selection tools
Latest round: $3.03 million
Total raised: $7.05 million
HQ: Philadelphia, Pennsylvania
Tags: Consumer, insurance, healthcare, benefits, HR
Source: Crunchbase

DipJar
Tipping system for retail point of sale
Latest round: $2.4 million Seed
Total raised: $2.82 million
HQ: New York City, New York
Tags: Consumer, payments, POS, merchants, acquiring, credit/debit cards
Source: Crunchbase

Nxt-ID
Mobile wallet and biometric solutions
Latest round: $2.1 million (at least $1.5 million debt)
Total raised: $2.9 million (includes at least $1.5 million debt)
HQ: Shelton, Connecticut
Tags: Enterprise, payments, mobile, security, Wocket Wallet (product name), hardware, credit/debit cards
Source: WhoGotFunded

ModeFinance
Credit risk management
Latest round: $1.4 million Seed
Total raised: $1.4 million
HQ: Trieste, Italy
Tags: SMB, credit, lending, trade financing, underwriting, commerce
Source: Crunchbase

—–
Image licensed from 123rf.com

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Fintech Fundings: 23 Companies Raise $685 Million Week Ending 18 Dec 2015

Fintech Fundings: 23 Companies Raise $685 Million Week Ending 18 Dec 2015
By Jim Bruene Posted on
Categories: Funding

holidaymoneyThere may be a bubble in tech investing. But if there’s one in the fintech sector, the dozens of investors in these 23 companies didn’t get the memo.

In the last full non-holiday week of the year, $685 million poured into fintech companies worldwide. The vast majority went into alt-lending, including NYC-based Pave, $300 million; Australian P2P platform MoneyPlace, $60 million from Auswide Bank; and Chinese lenders Fengjr.com, $80 million, and Dashu Finance, $77 million.

Three Finovate alums banked a total of $65 million:

With just two holiday-shortened weeks remaining in the year, the total invested in private fintech companies YTD now stands at $18.8 billion.

Here are the deals by size from 12 Dec to 18 Dec 2015:

Pave
Person-to-person lender
Latest round: $300 million Private Equity
Total raised: $300 million
HQ: New York City, New York
Tags: Consumer, lending, youth market, alt-credit, underwriting, sub-prime, loans, P2P, investing
Source: Crunchbase, WSJ

Fengjr.com (aka Phoenix Finance)
Alt-lender to consumers
Latest round: $80 million
Total raised: $80 million
HQ: Beijing, China
Tags: Consumer, lending, underwriting, loans, credit
Source: FT Partners

Dashu Finance
Consumer alt-lender
Latest round: $77 million Series B
Total raised: $93 million
HQ: Shenzen, China
Tags: Consumer, lending, P2P, underwriting, loans
Source: Crunchbase

MoneyPlace
P2P lender
Latest round: $60 million; $300 million valuation
Total raised: Unknown
HQ: Australia
Tags: Consumer, lending, credit, loans, person-to-person, peer-to-peer, Auswide Bank (investor)
Source: Lets Talk Payments

Gusto (fka ZenPayroll)
Payroll services
Latest round: $50 million Series C
Total raised: $136.1 million
HQ: London, England, United Kingdom
Tags: SMB, payroll, payments, HR, Finovate alum
Source: Finovate

CloverHealth
Health insurance
Latest round: $35 million Series B
Total raised: $135 million
HQ: San Francisco, California
Tags: Consumer, insurance, healthcare, payments
Source: Crunchbase

NextCapital
Investing and portfolio management
Latest round: $16 million Series B
Total raised: $22.3 million
HQ: Chicago, Illinois
Tags: Consumer, investing, wealth management, 401(k), aggregation, portfolio management
Source: Crunchbase

Trulioo
Online identify verification
Latest round: $15 million
Total raised: $23.3 million
HQ: London, England, United Kingdom
Tags: Enterprise, security, authentication, security, Finovate alum
Source: Finovate

Oration
Tools for self-insured businesses
Latest round: $11.2 million Series A
Total raised: $12.2 million
HQ: Foster City, California
Tags: Enterprise, SMB, insurance, healthcare, payments
Source: Crunchbase

FinTech Group
Diversified financial technology provider
Latest round: $11 million Post-IPO equity
Total raised: Unknown
HQ: Frankfurt, Germany
Tags: Enterprise, payments, IT solutions, trading, investing management
Source: FT Partners

Bench
High-tech and high-touch bookkeeping services
Latest round: $6.1 million
Total raised: $16.1 million
HQ: Vancouver, British Columbia, Canada
Tags: Accounting, SMB, bookkeeping, Techstars, Vancouver, Canada
Source: Crunchbase

CardLab
Residential and commercial property search
Latest round: $6.0 million Series A
Total raised: $6.0 million
HQ: Herlev, Denmark
Tags: Enterprise, credit/debit cards, hardware, card manufacturing
Source: Crunchbase

DealCloud
Workflow tool for investment bankers
Latest round: $5.3 million Series A
Total raised: $5.57 million
HQ: Charlotte, North Carolina
Tags: Enterprise, investing, trading, deals, investment banking
Source: Crunchbase

Gastrofix
Point-of-sale system for restaurants and hotels
Latest round: $4 million Series A
Total raised: $4 million
HQ: Berlin, Germany
Tags: SMB, payments, POS, ePOS, mPOS, credit/debit card acquiring, merchants
Source: Crunchbase

TransferGo
Remittance service
Latest round: $2.5 million Seed
Total raised: $2.5 million
HQ: London, England, United Kingdom
Tags: Consumer, payments, remittances, fx, mobile
Source: Crunchbase

Factom
Blockchain technology for businesses
Latest round: $1.5 million
Total raised: $3.04 million
HQ: Austin, Texas
Tags: B2B, SMB, blockchain, bitcoin, cryptocurrency
Source: Crunchbase

Indexa Capital
Low-cost investment portfolio management
Latest round: $1.2 million
Total raised: $1.2 million
HQ: Madrid, Spain
Tags: Consumer, investing, mutual funds, wealth management
Source: FT Partners

Bewa7er
Secondary market for private company shares
Latest round: $1 million Seed
Total raised: $1.24 million
HQ: Bilbao, Spain
Tags: SMB, consumer, trading, equity, investing
Source: Crunchbase

PayJoy
Consumer point-of-sale financing
Latest round: $1 million Debt
Total raised: $2.3 million
HQ: Palo Alto, California
Tags: Consumer, lending, point-of-sale financing, payments, loans, lending, underwriting
Source: Crunchbase

Capcito
Receivables financing
Latest round: $600,000
Total raised: $600,000
HQ: Stockholm, Sweden
Tags: SMB, factoring, financing, commercial lending, underwriting
Source: Crunchbase

Nous Global Markets
Crowdsourcing financial market predictions
Latest round: $290,000
Total raised: $1.9 million
HQ: London, England, United Kingdom
Tags: Consumer, trading, investing, gamification Finovate alum
Source: Finovate

DotDashPay
Payments for the internet of things
Latest round: $250,000 Award
Total raised: $250,000
HQ: Oakland, California
Tags: B2B, SMB, IoT, payments, API, developers
Source: Crunchbase

VentureCrowd
Platform for investing in startups
Latest round: Undisclosed
Total raised: Unknown
HQ: Sydney, Australia
Tags: SMB, investing, crowdfunding, equity, P2P
Source: Crunchbase

 

 

 

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2015: A Year in Finovate Alumni Mergers and Acquisitions

2015: A Year in Finovate Alumni Mergers and Acquisitions
By David Penn Posted on
Categories: Akimbo Financial, Aurora Financial Systems, Authentify, Blockstack.io, eMoney Advisor, Finicity, FIS, Funding, Fundings, FutureAdvisor, GoNow, Guide Financial, Kofax, Kontomatik, Kreditech, LearnVest, Mergers & Acquisitions, Q2, ReadyForZero, Red Zebra, Social Money, Stratos, Toopher, Urban FT, Wipit, Yodlee

Handshake_graphic

2015 was another big year for mergers and acquisitions in the fintech industry. And whether they were the acquirer or the acquired, Finovate alums were very much a part of the M&A action.

Because terms of many deals were undisclosed, it is difficult to get a precise number on how much money was spent acquiring some of fintech’s most promising startups this year. But looking just at those acquisitions for which figures were available, we can see that 2015 was a banner year in M&A (more than $7 billion) — and that’s just counting alums.

So from the $5 billion deal between FIS and Sungard to the “alum-acquires-alum” mergers of September 2015, let’s take a closer look at some of the major unions of the year that featured Finovate alums.

December

October

September

August

July

May

April

March

February

January

If you’re a Finovate alum whose merger we’ve missed or acquisition we’ve overlooked, let us know. Send us an email at research@finovate.com.

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Bizfi Closes on $65 Million in Debt Financing

Bizfi Closes on $65 Million in Debt Financing
By Julie Muhn (@julieschicktanz) Posted on
Categories: Bizfi, Funding

BizfiHomepage

Merchant-finance platform Bizfi received a $65 million boost from Metropolitan Equity Partners today to help it drive money into U.S. small businesses.

The debt financing will help the New York-based company:

  • Expand its financing programs to meet the capital needs of small businesses
  • Decrease the amount of time it takes for businesses to receive financing
  • Build brand awareness

Combined with the $75 million the company received in March 2014, Bizfi’s debt financing totals $140 million. Additionally, Bizfi has raised $15 million in equity financing from various angel investors.

Since its 2005 launch, Bizfi has provided $1.3+ billion in financing to 26,000+ small businesses across the U.S. The company’s small business financing platform consists of three product silos:

  1. Aggregation silo: comprised of third-party brokers, channel partners, and Bizfi’s direct-sales force
  2. Funding silo: provides merchant cash advances and small business loans
  3. Marketplace silo: offers a participation market for institutional investors

Bizfi debuted its aggregation platform at FinovateFall 2015 in New York City.

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