Funding

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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Trulioo Raises $15 Million with Help from American Express Ventures

Trulioo Raises $15 Million with Help from American Express Ventures
By David Penn Posted on
Categories: Funding, Fundings, Trulioo

Trulioo_homepage_Dec2016

Identity-verification specialist Trulioo picked up $15 million in new funding to help fuel growth. The round featured participation from American Express Ventures, along with existing investors BDC Capital, Blumberg Capital, and Tenfore Holdings. Trulioo’s total capital now stands at more than $23 million.

Trulioo CEO Stephen Ufford called the investment a vote of confidence in the company’s ability to help FIs deal with the complexity of cross-border compliance. Specializing in AML (anti-money laundering) and KYC (know your customer) verification, Trulioo’s technology enables businesses to provide frictionless ID verification in more than 40 countries around the world.

Trulioo_stage_FinovateFall 2015

Anatoly Kvitnitsky, director of corporate development for Trulioo, demonstrated GlobalGateway at FinovateFall 2015.

Rohit Bodas of American Express Ventures highlighted Trulioo’s global reach as one of the reasons for backing the company, and called cross-border compliance “a complex problem and an important issue for the financial industry.” GlobalGateway, Trulioo’s identity-verification platform, leverages 145 different data sources, including alternative sources such as mobile apps, social media, and ad networks to verify online identities. The technology is effective in developing markets such as China, Brazil and India, and developers can integrate the technology via Trulioo’s web portal, XML Direct, or through a Normalized API.

Trulioo recently partnered with fellow Finovate alum Avoka and integrated GlobalGateway with the latter’s Transact technology. Trulioo expanded its coverage to India in October, taking its total reach to four billion worldwide.

American Express Ventures focuses on startups with technologies that can help it expand its core capabilities as well as grow in digital commerce and financial inclusion. The firm includes Finovate alums Bill.com, LearnVest, and Radius among its investments.

Founded in 2011 and headquartered in Vancouver, British Columbia, Canada, Trulioo demonstrated its GlobalGateway platform at FinovateFall 2015. The company also presented at the inaugural FinDEVr developers conference in 2014.

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Fintech Fundings: 30 Companies Raise $100 Million Week Ending 11 Dec 2015

By Jim Bruene Posted on
Categories: Funding

Money_clickBuoyed by 7 Startupbootcamp Insurance entrants—each grabbing $17,000—a record 30 fintech companies raised money this week for a total of just under $100 million ($95.8 million). Only two companies topped 7 figures: real estate specialist EasyProperty ($37.6 million) and Lemonade, a P2P insurance play ($13 million).

Four Finovate alums were among the bunch:

With just two weeks remaining in the year, the total invested in private fintech companies YTD is $18.1 billion.

Here are the deals by size from 5 Dec to 11 Dec 2015:

EasyProperty
Residential and commercial property search
Latest round: $37.6 million Series C
Total raised: $47.9 million
HQ: London, England, United Kingdom
Tags: Consumer, SMB, home buying, rental, mortgage
Source: Crunchbase

Lemonade
Peer to peer insurance
Latest round: $13 million Seed
Total raised: $13 million
HQ: New York City, New York
Tags: Consumer, P2P, insurance
Source: Crunchbase

Clip (PayClip)
Mobile payments and point-of-sale platform
Latest round: $8 million Series A
Total raised: $16.4 million
HQ: Mexico City, Mexico
Tags: Consumer, SMB, merchants, mPOS, credit/debit card acquiring, payments
Source: Crunchbase

GroundFloor
Real estate lending marketplace
Latest round: $5 million Series A
Total raised: $6 million
HQ: Atlanta, Georgia
Tags: Consumer, P2P lending, credit, underwriting, mortgage, investing, commercial real estate
Source: Crunchbase

KeyPair Inc
NFC hardware for mobile payments
Latest round: $5 million Series B
Total raised: Unknown
HQ: Seongnam, Korea
Tags: Consumer, mobile, security, authentication, identification
Source: Crunchbase

CBANC Network
Community financial institution research network
Latest round: $4 million Series B
Total raised: $5.7 million
HQ: Austin, Texas
Tags: Enterprise, B2B, networking, compliance, policies, Finovate alum
Source: Finovate

Aye Finance
Alt-lender to micro and small businesses
Latest round: $3 million
Total raised: $4 million
HQ: New Delhi, India
Tags: SMB, loans, commercial lending, credit, underwriting
Source: Crunchbase

Income&
Mortgage-based investment vehicle
Latest round: $2.9 million Seed
Total raised: $2.9 million
HQ: San Francisco, California
Tags: Consumer, investing, mortgage, REIT
Source: Crunchbase

Paynear
Mobile point-of-sale solution
Latest round: $2.5 million Seed
Total raised: $2.5 million
HQ: Hyperabad, India
Tags: SMB, merchants, acquiring, payments, mPOS, point of sale, hardware
Source: Crunchbase

Curve
Stealth mobile payments company
Latest round: $2 million Seed
Total raised: $2 million
HQ: London, England, United Kingdom
Tags: Consumer, mobile, payments, debit/credit cards
Source: Crunchbase

Melody Health Insurance
Health insurance startup
Latest round: $2.0 million ($2 million + $1.8 million option)
Total raised: $2.0 million
HQ: Denver, Colorado
Tags: Consumer, SMB, insurance, health care
Source: Crunchbase

TabbedOut
Mobile POS system for restaurants and bars
Latest round: $2 million Series C add-on
Total raised: $41 million
HQ: Austin, Texas
Tags: SMB, merchants, acquiring, payments, mPOS, point of sale
Source: Crunchbase

Trizic
Wealth-management platform for financial advisers
Latest round: $2 million
Total raised: $5 million
HQ: San Francisco, California
Tags: Advisers, investing, wealth management, Finovate Alum
Source: Finovate

Cookies Labs
P2P payments
Latest round: $1.6 million
Total raised: $1.6 million
HQ: Berlin, Germany
Tags: Consumer, person to person, payments, transfers
Source: FT Partners

Backed
Alt-lender specializing in credit with co-borrowers
Latest round: $1.5 million Seed
Total raised: $1.5 million
HQ: New York City, New York
Tags: Consumer, lending, personal loans, co-borrower, joint application, underwriting
Source: Crunchbase

TRData
Market data communications platform
Latest round: $1.3 million
Total raised: $1.3 million
HQ: London, England, United Kingdom
Tags: Investing, advisers, enterprise, trading, information
Source: FT Partners

Rippleshot
Credit and debit card security
Latest round: $1.2 million Seed
Total raised: $1.2 million
HQ: California
Tags: Consumer, security, big data, Finovate alum
Source: Finovate

Purse.io
Bitcoin payments
Latest round: $1 million Seed
Total raised: $1.3 million
HQ: San Francisco, California
Tags: Consumer, cryptocurrency, payments, remittances, P2P payments
Source: FT Partners

MoneyRemaid
Financial platform for underbanked
Latest round: $100,000 Prize
Total raised: Unknown
HQ: Malaysia
Tags: Remittances, PFM, financial literacy, MasterCard (sponsor)
Source: MasterCard

Rightindem
Insurance claim processing technology
Latest round: $17,000 Accelerator
Total raised: Unknown
HQ: London, England, United Kingdom
Tags: Insurance, enterprise, Startupbootcamp (accelerator)
Source: FT Partners

BimAfya
Mobile micro-insurance platform
Latest round: $17,000 Accelerator
Total raised: Unknown
HQ: Dar es Salaam, Tanzania
Tags: Insurance, underbanked, mobile, Startupbootcamp (accelerator)
Source: FT Partners

Covi Analytics
Analytics tool for insurance companies
Latest round: $17,000 Accelerator
Total raised: Unknown
HQ: California
Tags: Insurance, analytics, big data, underwriting, Startupbootcamp (accelerator)
Source: FT Partners

FitSense
Wearables analytics platform for insurance companies
Latest round: $17,000 Accelerator
Total raised: Unknown
HQ: Singapore
Tags: Insurance, enterprise, mobile, Startupbootcamp (accelerator)
Source: FT Partners

massUp
White-label platform for niche insurance sales
Latest round: $17,000 Accelerator
Total raised: Unknown
HQ: Germany
Tags: Insurance, mobile, underwriting, Startupbootcamp (accelerator)
Source: FT Partners

Quantifyle
Personal health monitoring for insurance rebates
Latest round: $17,000 Accelerator
Total raised: Unknown
HQ: London, England, United Kingdom
Tags: Insurance, Startupbootcamp (accelerator)
Source: FT Partners

Safer
Personal risk analyzer for insurance selection
Latest round: $17,000 Accelerator
Total raised: Unknown
HQ: London, England, United Kingdom
Tags: Consumer, insurance, lead gen, Startupbootcamp (accelerator)
Source: FT Partners

BankersLab
Lending training and compliance platform
Latest round: Undisclosed
Total raised: Unknown
HQ: San Francisco, California
Tags: Enterprise, training, commercial lending, benchmarking, gamification, Finovate alum
Source: Finovate

Bitx
Bitcoin exchange
Latest round: Unknown
Total raised: $8.8 million
HQ: Singapore
Tags: Consumer, payments, cryptocurrency, blockchain
Source: Crunchbase

eCurrency Mint (eCM)
Digital currency platform for central banks
Latest round: Undisclosed Series C
Total raised: Unknown
HQ: Dublin, Ireland
Tags: Central bank, cryptocurrency, bitcoin
Source: Crunchbase

Lenny
Credit-building microloans for college students
Latest round: Undisclosed
Total raised: Unknown
HQ: Santa Monica, California
Tags: Consumer, lending, student loan, youth market, credit, Dwolla (partner)
Source: Crunchbase, Finovate

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Trizic Raises $2 Million to Help Advisers Compete with Algorithms

Trizic Raises $2 Million to Help Advisers Compete with Algorithms
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Trizic

TrizicHomepageFront

Trizic, a startup that creates wealth-management solutions to help advisers keep up with advancing technology, closed $2 million in funding earlier this week.

This is the company’s third round of funding and brings its total to $5 million. Contributing investors were not disclosed. Trizic has named only one investor in past rounds, Operative Capital, which also funds AlphaClone.

The San Francisco-based company’s Accelerator is a cloud-based advisory platform that caters to both advisers and their clients. The adviser platform offers portfolio automation and management, securities trading, rebalancing, compliance reporting, and client billing services. Accelerator also provides an intuitive client-facing platform with customized portfolio insight and reporting.

Accelerator is available as an API that advisers can customize and white-label with their existing applications. Trizic’s SaaS model uses a contract-free pricing model that charges a percentage based on AUM, starting at 0.05%

Trizic demoed Accelerator at FinovateSpring 2015 in San Jose.

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CBANC Network Garners $4 Million in Series B Funding

CBANC Network Garners $4 Million in Series B Funding
By Julie Muhn (@julieschicktanz) Posted on
Categories: cbanc Network, Funding

CBANCNetworkHomepage

CBANC, a collaborative network for bank and credit union professionals, raised $4 million earlier this week. The Series B round was led by CBANC founder Hank Seale. Other investors include Texas Independent Bancshares, Mike Maples, and Adams Street Partners. When added to its previous round of $1.7 million, this brings the company’s total funding to $5.7 million.

CBANC launched its network as a platform where financial industry professionals can ask, answer, and share industry-related intelligence, specifically regarding regulation and new technology. It counts 7,000 financial institutions as members, which represent 85% of community banks and 33% of credit unions across the United States.

The company plans to use the funds to increase membership, add features and expand its base of 22 employees.  “We’re very well engaged on the compliance side of things,” CBANC CEO Bryan Koontz tells the Austin-American Statesman, “Now we want to bring the vendor community into the network, and we plan to invest in new features and new ways for the vendors to interact.”

CBANC demoed its professional network at FinovateFall 2011 in New York.

 

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BankersLab Closes on Undisclosed Amount in Angel Funding Round

BankersLab Closes on Undisclosed Amount in Angel Funding Round
By Julie Muhn (@julieschicktanz) Posted on
Categories: BankersLab, Funding

BankersLabHomepage

BankersLab, the company that refers to its training products as Flight Simulators for Bankers, announced today it closed a round of angel funding. The company has previously relied on its bootstrapped funds.

The amount of funding is undisclosed, but the San Francisco-based company hinted of its investor base, which includes financial and tech sector executives from the U.S., Germany and Singapore.

The San Francisco-based company plans to use the funding to accelerate development of PortfolioQuest, an SaaS-based simulation training product it will demo live at FinovateEurope 2016 in London.

BankersLab was founded in 2011. It has since offered training in acquisition, underwriting, collections, and account management to retail banking and fintech industry participants across 35 countries. The PortfolioQuest game, a spinoff of its original game series, enhances portfolio management skills by offering a single-player simulation game that allows participants to measure their performance against their colleagues and the fintech community at large.

BankersLab last demoed ScoringLab at FinovateAsia 2012.

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Rippleshot Raises $1.2 Million in Round Led by KGC Capital

Rippleshot Raises $1.2 Million in Round Led by KGC Capital
By David Penn Posted on
Categories: Funding, Fundings, Rippleshot

Rippleshot_homepage_Dec2015

Chicago-area cybersecurity specialist Rippleshot has raised $1.2 million in new funding. The investment round was led by KGC Capital and featured participation from UMB Bank; Wintrust; and SixThirty, the fintech accelerator based out of St. Louis.

Rippleshot says the new financing will help grow its team from eight to more than 30 in 2016. Developers, account managers, and sales staff are among the kinds of talent the company is looking for.

Rippleshot_stage_FF2014

Rippleshot Chief Scientist Randal Cox, co-founder, demonstrated the Rippleshot platform at FinovateFall 2014.

The company also announced that the co-founder of PerkStreet Financial, Jason Henrichs, will be joining the Rippleshot board of directors. Henrichs was also an early investor in anti-fraud analytics firm, Memento.

Rippleshot leverages big-data analytics and machine learning to detect and track down bankcard data-breaches. The company’s cloud-based technology focuses on the merchant side rather than the customer side, analyzing millions of daily credit card transactions for suspicious patterns. This approach provides a granular level of detail, enabling investigators to zero in on the specific stores, specific days, and even the specific POS terminals from which data has been stolen.

Founded in June 2013 and headquartered in Chicago, Rippleshot demonstrated its platform at FinovateFall 2014. In November 2015, Rippleshot joined the fall cohort of the SixThirty accelerator program; in August, was a finalist in the BBVA Open Talent Competition; and this spring, earned a finalist spot in the MRC METAwards along with fellow Finovate alum, BioCatch. Canh Tran is CEO.

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Fintech Fundings: $110 Million Raised by 13 Companies Week Ending 4 Dec 2015

Fintech Fundings: $110 Million Raised by 13 Companies Week Ending 4 Dec 2015
By Jim Bruene Posted on
Categories: Funding

dollar_money_signAs we head into the final four weeks of 2015, private investment into the fintech sector is just under $18 billion for the year—or $24 billion including the First Data, Worldpay and Square IPOs.

Two Finovate alums were among the 13 companies raising money this week:

In total, the 13 companies pulled in $112.7 million, all equity.

Here are the deals by size from 28 Nov through 4 Dec 2015:

Tyro Payments
Point-of-sale payment processor
Latest round: $72 million
Total raised: $104 million
HQ: Sydney, Australia
Tags: Merchants, SMB, acquiring, mobile, POS, mPOS, credit/debit cards
Source: Crunchbase

Progressa
Short-term online consumer loans
Latest round: $11.4 million Series A
Total raised: $11.4 million
HQ: Vancouver, Canada
Tags: Consumer, lending, payday, underwriting, loans
Source: Crunchbase

Clearpool Group
Electronic trading software
Latest round: $8 million
Total raised: $8 million
HQ: New York City, New York
Tags: Enterprise, investing, trading
Source: FT Partners

Mirador Financial
Small business lending technology
Latest round: $7 million Series A
Total raised: $9.7 million
HQ: Portland, Oregon
Tags: Enterprise, SMB, lending, underwriting, loans
Source: Crunchbase

ThetaRay
Threat detection solutions for financial institutions
Latest round: $5 million Series C
Total raised: $15 million
HQ: Jerusalem, Israel
Tags: Enterprise, big data, security, Alibaba (investor), Finovate alum
Source: Crunchbase

Bee
Mobile bank/card
Latest round: $4.6 million
Total raised: $4.6 million
HQ: New York City, New York
Tags: Consumer, prepaid debit card, neo-bank, challenger bank, mobile
Source: Crunchbase

Social Change Rewards
Rewards platform emphasizing personal wellness
Latest round: $2 million
Total raised: $2 million
HQ: Toronto, Canada
Tags: Consumer, rewards, gamification, cards, health care
Source: Crunchbase

Onovative
Marketing automation and analytics for financial institutions
Latest round: $1.0 million Series A ($3 million valuation)
Total raised: $1.6 million
HQ: Louisville, Kentucky
Tags: Consumer, marketing, analytics, Finovate alum
Source: Finovate

ETNetwork
Digital receipts platform
Latest round: $1.2 million
Total raised: $1.2 million
HQ: Stockholm, Sweden
Tags: Enterprise, merchants, SMB, PFM, transactions, debit/credit cards
Source: Crunchbase

ExpenseBot
Platform
Latest round: $150,000
Total raised: $325,000
HQ: North Ridgeville, Ohio
Tags: Consumer
Source: WhoGotFunded

Zize (formerly Tete)
Blockchain-based bitcoin analytics
Latest round: $100,000 Angel
Total raised: $100,000
HQ: Genova, Italy
Tags: Enterprise, cryptocurrency, big data, analytics, blockchain
Source: Crunchbase

iQapla
Automated trading tools
Latest round: Undisclosed Seed
Total raised: Unknown
HQ: Madrid, Spain
Tags: Consumer, trading, investing, stock market
Source: Crunchbase

OmegaFI
College fraternity and sorority financial management platform
Latest round: Undisclosed
Total raised: Unknown
HQ: Columbus, Georgia
Tags: Nonprofit, accounting, bookkeeping, billpay, invoicing
Source: FT Partners

 

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