Funding

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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Q2 Acquires Social Money in $10 Million Deal

Q2 Acquires Social Money in $10 Million Deal
By David Penn Posted on
Categories: Funding, Fundings, Q2, Q2ebanking, Social Money

Q2_homepage_SocialMoney_Dec2015

Q2 Holdings just got social.

The virtual banking solution provider today announced it will acquire fellow Finvoate alum Social Money for $10.6 million. Q2’s President and CEO Matt Flake said the “strategic” acquisition will help its customers “expand their reach, grow market share, and engage account holders.”

Formerly known as Smarty Pig, Social Money helps financial services companies better engage their customers by offering them savings solutions such as GoalSaver, a customized, goal-directed and bank-audited saving system. Founded in 2007 and headquartered in West Des Moines, Iowa, Social Money is geared toward millennials and gen-Y consumers, a point underscored by Flake. “The digital banking experience matters when it comes to reaching millennials and retaining existing account holders,” he said, adding that Q2 is committed to serving the “increasingly digital modern consumer.”

SocialMoney_stage_FS2012b
Social Money CEO Scott McCormack demonstrated GoalSaver at FinovateSpring 2012.

The Social Money acquisition is the second for Q2 in 2015. In July, Q2 Holdings acquired anti-fraud, risk-management specialist Centrix Solutions for $20 million. Q2 is still studying how it will integrate Social Money’s portfolio into its offerings, saying it plans to provide a “rebranded suite of Social Money technologies” in 2016. For its part, Social Money sees the acquisition as an opportunity to continue helping community banks and credit unions “establish direct-to-digital capabilities in the future,” according to CTO Adam Anderson.

Q2’s solutions are used in more than 275 community banks and credit unions. At their Finovate debut, FinovateSpring 2011, Q2 demoed its risk and fraud analytics technology. Headquartered in Austin, Texas, Q2 Holdings was founded in 2005.

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Fintech Fundings: 12 Companies Raised $150 Million Week Ending 29 Nov 2015

By Jim Bruene Posted on
Categories: Funding

money_tree_newIt was a quiet week over the U.S. Thanksgiving holiday, but it still surpassed the $100-million mark, thanks entirely to U.K.-based Atom Bank’s $128 million raise. BBVA was lead investor, contributing $68 million for a 30% stake in the not-yet-launched mobile bank.

In total, 12 fintech companies raised $152 million, although 5 of the 12 did not release the amount raised. Finovate alum Lighter Capital had the second-biggest round this week, raising $9 million in equity and announcing a loan-funding commitment of $100 million, a sum not included in fundraising totals.

So far this year, venture funding in the fintech sector has totaled $17.8 billion, or about $24 billion including WorldPay, First Data and Square IPOs.

Here are the deals by size from 21 Nov through 27 Nov 2015:

Atom Bank
Digital bank
Latest round: $128 million; $230 million valuation
Total raised: $128 million
HQ: Durham, England, United Kingdom
Tags: Consumer, bank, BBVA (lead investor), mobile, challenger
Source: Crunchbase

Lighter Capital
Alt-lender focused on startups
Latest round: $9 million
Total raised: $15 million
HQ: Seattle, Washington
Tags: SMB, underwriting, revenue-based financing, commercial lending, loans, credit
Source: Finovate

Growth Street
Alt-lender for small businesses
Latest round: $7.6 million
Total raised: $7.6 million
HQ: London, England, United Kingdom
Tags: SMB, lending, short-term financing, commercial lending, underwriting
Source: Crunchbase

Anywhere to Go Co
Insurance claims platform (Claim Di)
Latest round: $2 million
Total raised: $2 million
HQ: Bangkok, Thailand
Tags: Enterprise, B2B2C, insurance, mobile
Source: Crunchbase

Lenda (formerly GoRefi)
Mortgage lending platform
Latest round: $2 million Seed
Total raised: $4 million
HQ: San Francisco, California
Tags: Consumer, mortgage, home buying, refinance, lead gen, price discovery
Source: Crunchbase

Early Salary
Alt-lending platform
Latest round: $1.5 million Seed
Total raised: $1.5 million
HQ: Pune, India
Tags: Consumer, lending, underwriting, young adults, credit scoring
Source: Crunchbase

NextBank Project
Bitcoin-based bank
Latest round: $1.4 million; $35 million valuation
Total raised: $2.1 million
HQ: Port-valais, Vanuatu
Tags: Bitcoin, banking, payments, consumer, SMB, cryptocurrency
Source: Crunchbase

Akredo
Lending portal
Latest round: $635,000
Total raised: $820,000
HQ: Warsaw, Poland
Tags: Consumer, lending, lead gen, price comparison
Source: Crunchbase

DealMarket
Deal management platform
Latest round: Undisclosed
Total raised: Unknown
HQ: Zurich, Switzerland
Tags: SMB, equity, investing
Source: FT Partners

Homie
Peer-to-peer real estate platform
Latest round: Undisclosed
Total raised: Unknown
HQ: Salt Lake City, Utah
Tags: Consumer, home buying, discovery, mortgage
Source: Crunchbase

Kount Money
Marketplace lender
Latest round: Undisclosed
Total raised: Unknown
HQ: Bengaluru, India
Tags: Consumer, credit, person-to-person, lending, P2P, peer-to-peer, investing
Source: Crunchbase

Point
Home-equity exchange
Latest round: Undisclosed
Total raised: Unknown
HQ: Palo Alto, California
Tags: Consumer, home equity, mortgage, lending, credit, investing
Source: Techcrunch

Savedo
Savings and timed-deposit portal
Latest round: Undisclosed
Total raised: Unknown
HQ: Berlin, Germany
Tags: Consumer, savings accounts, certificates of deposit, banking
Source: Crunchbase

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Lighter Capital Closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups

Lighter Capital Closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Lighter Capital

Lightercaphomepage

Lighter Capital made a two-fold funding announcement last week. First, the Seattle-based company closed $9 million in Series B funding. Investors include:

  • Voyager Capital
  • Summit Capital
  • Individual investors, including Lighter Capital’s Chairman, Jeff Seely

Lighter Capital plans to use the funds to advance its platform and double its 23-person team. Today’s $9 million installment, combined with the company’s $6 million Series A round, brings its total funding to $15 million.

In addition to this, Lighter Capital raised $100 million to furnish 500 tech startups with capital. The funds, which come from Community Investment Management, will help Lighter Capital increase its investment cap from $1 million to $2 million.

Lighter Capital was founded in 2010. This year, it has increased investment funding to an average of six businesses per month. In total, the company has provided funds to 75 small businesses, including Finovate alum, Cloud Lending.

BJ Lackland is CEO of Lighter Capital, which debuted its Revenue Loan at FinovateSpring 2011 and last demoed at FinovateFall 2013.

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More than $1 Billion Raised by Alums in Q3 2015

More than $1 Billion Raised by Alums in Q3 2015
By David Penn Posted on
Categories: Funding, Fundings, Quarterly Funding

sackofmoneyFinovate alums raised about $1.1 billion in the third quarter of 2015.

The fundraising in Q3 of this year is more than 5x last year’s Q3 tally of $194 million, and 6x the 2013 total of $171 million. The number of deals was up as well: 40 last quarter compared to 17 in Q3 a year ago, and 23 in Q3 2013.

There were also four acquisitions:

Top 1o Fundings in Q3:

  • Twilio: $130 million
  • Kabbage: $120 million
  • Behalf: $119 million
  • Kreditech: $92 million
  • Fenergo: $75 million
  • ShopKeep: $60 million
  • BankBazaar: $60 million
  • Radius: $50 million
  • Payoneer: $50 million
  • RealtyMogul: $35 million

Total: $1.07 billion raised by 40 alums

July: $748 million raised by 16 alums

August: $153 million raised by 12 alums

September: $173 million raised by 12 alums

If you are an alum that raised money in the third quarter of 2015, and do not see your company listed, please drop us a note at research@finovate.com. We are eager to share your good news! Funding received prior to becoming a Finovate alumnus is not included in our research.

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Nous Closes In On £350,000 Fundraising Goal [Update: Nous Exceeds Original Goal, Raises $750,000]

Nous Closes In On £350,000 Fundraising Goal [Update: Nous Exceeds Original Goal, Raises $750,000]
By Julie Muhn (@julieschicktanz) Posted on
Categories: Funding, Nous.net

NousScreenshot

[Update] Nous has closed the round, exceeding expectations by raising $750,000 from angels and crowdfunding. This is $223,000 more than its original goal of $527,000.

Nous, a startup that builds products for global financial market enthusiasts, announced last week it has raised 88% of its £350,000 ($527,000) goal in its second external round of funding. The London-based company is currently raising funds on SyndicateRoom, a professional angel-crowdfunding site.

The campaign has two weeks remaining. Nous anticipates it will achieve and possibly exceed its goal amount to reach its overfunding limit.

Nous plans to use the funds to launch an ultra-low-risk trading app to serve a demographic overlooked by current financial products.

The founders of Nous bootstrapped the company with $500,000, and raised $605,000 in funding last year.

At FinovateEurope 2014, Nous launched SparkProfit, a financial data service and gamified market-prediction platform that combines human predictions and quantitative finance to better anticipate future market outcomes.

NousPresenting

From left: CEO Justin Short, founder, and Mick Horgan, co-founder, presented the Nous product for global financial markets at FinovateFall 2014.

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