Kabbage Archives - Page 12 of 20

Alumni News– December 17, 2014

By David Penn Posted on December 17, 2014
Categories: Betterment, CashStar, Coinbase, CrowdFlower, ID Analytics, Kabbage, LearnVest, Lending Club, Mint.com, Motif Investing, Personal Capital, Prosper, Rippleshot, SigFig, TipRanks, Tradeshift, Venmo, Wealthfront, WingCash

The Jerusalem Post profiles Israeli startup, TipRanks.

CashStar Market Solution is now powering 150 promotions during this year’s winter holiday season.

Enterprising Investor highlights Betterment, LearnVest, Motif Investing, Venmo, and Wealthfront in its column on Millennials and money.

TechZone 360 discusses CrowdFlower in a review of “What’s Hot and What’s Not on Data Science for 2015.”

Yahoo! Finance features an interview with Rippleshot co-founder and CPO Yueyu Fu.

WingCash unveils Brand Cash, a digital currency that replaces merchant-specific gift and loyalty cards.

Financial Times profiles Betterment CEO and co-founder, Jon Stein.

After Manilla’s demise, Mint launches bill pay and bill management platform.

Time, Inc partners with Coinbase to accept bitcoin for subscriptions to Fortune, Health, This Old House and Travel + Leisure.

Tradeshift to waive 30% revenue share from organizations that build apps to support the circular economy http://bit.ly/13cY6S6

Wealth Management looks at the human advisors behind Personal Capital and SigFig.

Money Talks News lists alternative lending sites to consider: Prosper, Lending Club, and Kabbage.

ID Analytics names Timothy Laughlin as new CFO.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Alumni News– December 11, 2014

By David Penn Posted on December 11, 2014
Categories: Azimo, Bluefin Payment Systems, Cartera Commerce, CUneXus, Dynamics, Flint Mobile, Google, IDology, Intuit, Kabbage, Lending Club, Lendio, Malauzai Software, Mortgage Harmony, PayNearMe, PayPal, Pindrop Security, Prosper

Malauzai Software announces launch of its SmartMarketing program to promote mobile banking.

Azimo extends £1 money transfer service to India, Pakistan, Bangladesh, and Sri Lanka.

Information Week takes a look at mobile payment apps including Flint.

Mortgage Harmony rebrands as Rate Reset.

Bank Innovation features CUneXus.

The Wharton Journal profiles Kabbage.

Contact Solutions, IDology, and Pindrop Security team up to Cut IVR Fraud.

Examiner.com: Dynamics‘ next-generation credit card features buttons to log-in PIN security code.

Lendio CEO explains how his company is fueling the American dream.

Prosper comments on Lending Club IPO, expects to top $9 billion in loans this year.

Loyalty360 highlights Cartera Commerce.

PayNearMe partners with Department of Health and Human Services to spread the word about healthcare.

Bluefin Payment Systems to provide its PCI-validated Point-to-Point Encryption (P2PE) Solution to Priority Payment clients.

Career Bliss lists PayPal, Intuit, and Google in the top 50 happiest companies in the U.S.

Lending Club launches IPO, shares rally 70% in early trading.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Alumni News– November 26, 2014

By David Penn Posted on November 26, 2014
Categories: Azimo, BehavioSec, BioCatch, EyeVerify, EZBOB, Fastacash, Heckyl Technologies, IntelliResponse, Kabbage, Klarna, Linkable Networks, Nomis Solutions, P2BInvestor, Patch of Land, Realty Mogul

Spend Matters features P2Binvestor and its crowdfunding approach to providing credit to small businesses.

POTs and PANs looks at biometric authentication innovators, EyeVerify, BehavioSec, and BioCatch.

Best Advice explores EZBOB’s strategy to attract SMEs to online lending.

Bank of Internet USA to deploy IntelliResponse virtual agent technology.

First Annapolis’ The Navigator Newsletter interviews Sebastian Siemiakowski, CEO of Klarna.

Fastacash, Heckyl Technologies, Kabbage, Linkable Networks, and Nomis Solutions named to Red Herring Top 100 Global.

Investor Intel mentions Patch of Land and Realty Mogul in column on helping baby boomers participate in real estate crowd funding.

Azimo to join London mayor Boris Johnson’s trade mission to Malaysia and Singapore.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Alumni News– October 24, 2014

By David Penn Posted on October 24, 2014
Categories: CurrencyFair, D3 Banking, Evo Snap*, iQuantifi, Kabbage, Motif Investing, On Deck Capital, PayPal, Smarty Pig, TD Ameritrade, TransferWise, Xignite

Check out our latest Finovate Debuts featuring iQuantifi.

Smarty Pig featured in Washington Post column on ways to save on holiday gift shopping.

Wealth Management.com talks with Motif Investing CEO Hardeep Walia on tech trends in the financial services industry.

TransferWise and CurrencyFair are highlighted in Forbes review of ways to save on foreign currency exchange.

Bob’s Guide profiles cloud-based market data provider, Xignite.

Technology Tools for Today interviews Tom Nally, president of TD Ameritrade Institutional.

Pymnts interviews EVO Snap* CEO Peter Osberg about Apple Pay.

Fitsmallbusiness.com highlights OnDeck, PayPal, & other Finovate alums as small business lending innovators.

D3 Banking brings in $7 million, with $3 million more on the way.

ABA Banking Journal looks at Karrot, the automated online lending service demoed by Kabbage last month at FinovateFall 2014.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Kabbage Launched Karrot, a Consumer Marketplace Lending Product

By Julie Muhn (@julieschicktanz) Posted on September 24, 2014
Categories: FinovateFall 2014, Kabbage

This post is part of our live coverage of FinovateFall 2014.

Kabbage launched Karrot.com:

“Kabbage is launching the only fully automated consumer marketplace lending product in the industry to complement its leading position in SMB lending.”

Presenting: Rob Frohwein, CEO & Co-Founder and Kathryn Petralia, COO & Co-Founder

Product Launch: September 2014

Metrics: $106M in equity

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), technology licensing and services

HQ: Atlanta, GA

Founded: February 2009

Website: kabbage.com

Twitter: @kabbageinc

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Alumni News– August 25, 2014

By David Penn Posted on August 25, 2014
Categories: Betterment, BillGuard, Dynamics, Financial Guard, FutureAdvisor, Geezeo, inStream Solutions, Jemstep, Kabbage, Lending Club, Motif Investing, Moven, On Deck Capital, Prosper, SigFig, Top Image Systems, Wealthfront

San Antonio Federal Credit Union to integrate Geezeo PFM technology.

On Deck partners with Worldpay to provide access to financing for small and medium-sized merchants.

PaymentsSource features Dynamics ePlate among its list of “7 unusual emerging payments technologies.”

Drippler.com reviews BillGuard.

Top Image Systems announces patent for full page mobile image processing.

The New York Times profiles Financial Guard, Motif, Betterment, FutureAdvisor, Jemstep, SigFig and Wealthfront .

InStream Solutions launches comparison tool.

Moven expands internationally, signs deal with New Zealand-based Westpac.

HuffPo profiles Prosper, Lending Club, and Kabbage in column on the rise of online lending.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Alumni News– August 19, 2014

By David Penn Posted on August 19, 2014
Categories: CAN Capital, Geezeo, GoBank, Kabbage, NICE Systems, On Deck Capital, Palo Alto Software, PayPal, Quisk, ReadyForZero, Top Image Systems, Yseop

LivePlan launches its Black Widow update to enhance performance monitoring.

Bank Innovation looks at GoBank’s decision to shorten holding periods for mobile check deposits.

NICE Systems earns 2014 Star Performer award from Speech Technology magazine.

Top Image Systems partners with Allied Payment Networks to implement MobiPAY.

Time features ReadyForZero as 1 of 50 Best Websites for 2014.

Hiveage compares OnDeck, Kabbage, PayPal Working Capital, & CAN Capital Come see OnDeck at FinDEVr.

Quisk awarded US patent for enabling consumer activated security for a mobile payment system.

The Rude Baguette interviews Yseop CEO, John Rauscher.

New partnership brings Geezeo’s PFM solution to MEA’s native mobile banking platform. See Geezeo at FinovateFall 2014 in New York.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Alumni News– July 25, 2014

By David Penn Posted on July 25, 2014
Categories: Actiance, BillGuard, Cartera Commerce, Coinbase, DemystData, eToro, FutureAdvisor, Holvi, Jemstep, Kabbage, LendingTree, Malauzai Software, MoneyDesktop, Monitise, Personal Capital, SecondMarket, Wealthfront, Zooz

Fox Business News features Kabbage’s small business lending process.

Huffington Post describes how DemystData’s big data analytics help evaluate creditworthiness.

Cartera Commerce’s CFO Karen Cambray named a finalist in Boston Business Journal’s 2014 CFO of the Year Awards.

Bloomberg: BillGuard programmers code in bomb shelters.

Coinbase launches Coinbase Vault to Better Secure Your Bitcoins.

MoneyDesktop appoints Brandon Dewitt as its first ever CTO.

SecondMarket CEO Barry Silbert stepping down in order to refocus his attention solely on bitcoin.

InvestmentNews features roboadvisors Jemstep, FutureAdvisor, Wealthfront, and Personal Capital.

The Irish Times looks at Holvi’s move into Ireland.

CMS Wire: Actiance wants to help companies curb social media mistakes.

Karen Webster of Market Platform Dynamics interviews Zooz CEO Oren Levy.

eToro announces new version of OpenBook for iOS.

Mobile Entertainment talks with Adam Levene, SVP of Strategy at Monitise Create.

LendingTree launches personalization platform.

Pymnts takes a look at the partnership between Malauzai Software and Trusteer. See Malauzai at FinovateFall in September.

Fortune.com interviews Bill Siegel, interim CEO of SecondMarket.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alums Raise More than $600 Million for Second Quarter in a Row

By Julie Muhn (@julieschicktanz) Posted on June 30, 2014
Categories: App Annie, Betterment, BodeTree, Dashlane, DemystData, Fastacash, FutureAdvisor, Gremln, Holvi, Kabbage, Kony Solutions, Kreditech, LearnVest, Lending Club, Motif Investing, Nutmeg, Ondot, RevolutionCredit, SeedInvest, ShopKeep POS, Signifyd, Swipely, The Currency Cloud, TransferWise, Tuition.io, Wealthfront

In the first quarter of 2014, 23 Finovate alums raised more than $592 million

And as the second quarter draws to a close, it’s clear that a comparable cohort of alums have kept the pace.

Over the course April, May, and June, 28 alums raised significant amounts of capital ranging from Gremln’s $100,000 to the $65 million raised by Lending Club. The quarterly total of $594 million is almost exactly the same as the previous quarter.

And given that some amounts are undisclosed (I’m talking about you, Holvi, RevolutionCredit, and Tuition.io), we’re confident that Finovate alums have notched their second $600 million fund-raising quarter in a row.

How does this compare with the less recent past? Very well, indeed.

In the second quarter of 2013, 15 alums raised more than $200 million. This was a major improvement on the second quarter from 2012, which featured 14 companies raising more than $120 million.

Total raised for Q2 2014 = $594 million

April — $217 million raised by 11 companies

Betterment – $32 million – blog post
The Currency Cloud – $10 million – blog post
LearnVest – $28 million – blog post
Lending Club – $65 million (equity portion of debt and equity deal) – blog post
Ondot Systems – $18 million – blog post
SeedInvest – $2 million – blog post
ShopKeep POS – $25 million – blog post
Signifyd – $2 million – blog post
Tuition.io – undisclosed – blog post
Wealthfront – $35 million – blog post

May — $226 million raised by 11 companies

App Annie – $17 million – blog post
BodeTree – $2 million – blog post
Dashlane – $22 million – blog post
DemystData – $5 million – blog post
FutureAdvisor – $15 million – blog post
Holvi – undisclosed – blog post
Kabbage – $40 million – blog post
Motif Investing – $35 million – blog post
RevolutionCredit – undisclosed – blog post
Swipely – $20 million – blog post

June — $151 million raised by six companies

fastacash – $4 million – blog post
Gremln – $100,000 – blog post
Kony – $50 million – blog post
Kreditech – $40 million – blog post
Nutmeg – $32 million – blog post
TransferWise – $25 million – blog post

Note: Funding prior to becoming a Finovate alum not included. Questions? Comments? Email us at David@Finovate.com or Julie@Finovate.com

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BBVA Compass Teams Up with OnDeck to Better Score Small Biz Borrowers

By David Penn Posted on May 7, 2014
Categories: BBVA Compass, Kabbage, Lending Club, On Deck Capital, Prosper

The only thing keeping pace with the investment interest in alternative lenders from Prosper to Kabbage may be the growing partnership interest from banks.

Earlier this week we reported on the deal between Lending Club and Union Bank. Today we learn that BBVA Compass will be working with OnDeck to develop better ways to provide loans to its small business clients.

Specifically, BBVA Compass will be relying on OnDeck’s OnDeck Score. This technology allows banks and financial institutions to review thousands of relevant data points, including social data points, to help determine a would-be borrower’s suitability for a given loan.

This new initiative is a big deal for OnDeck, and represents the first such collaboration with a bank the size of BBVA Compass. Founded in 2007 and led by CEO Noah Breslow, OnDeck made headlines a month ago when it announced a $77 million funding round led by Tiger Capital. The company specializes in combining loan underwriting analysis with the merchant’s own business data to determine a potential borrower’s creditworthiness faster than traditional lenders.

The average loan from OnDeck is $40,000, and loans can run as high as $250,000. Terms range from as little as three months to two years. The company demoed its technology at FinovateSpring 2012.

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Finovate Alumni News– May 7, 2014

By Julie Muhn (@julieschicktanz) Posted on May 7, 2014
Categories: Actiance, App Annie, BancBox, BBVA Compass, Credit Sesame, Dashlane, Jack Henry, Kabbage, On Deck Capital, Personal Capital, Prosper, Striata, TradeHero

iFactor and Striata partner to offer robust push ebill solution to utilities.

Kingdom Trust and Bancbox partner to streamline the crowdfunding and P2P lending platform experience for the IRA investor.

Alternative lending pays up: Kabbage raises $50 million, Prosper pulls in $70 million.

Actiance extends Socialite to include Google+ & YouTube.

VentureBeat looks at the rise of P2P lending of many Finovate alums and predicts $1 trillion in loans by 2025.

App Annie now lets app developers track ads, app store optimization.

TradeHero launches a Chinese version, bringing the stock market game to traders in China.

Lend Academy speculates Prosper now valued $600 million, up from a $100 million valuation around eight months ago.

Personal Capital reaches 500,000+ registered users. Now is tracking over $70+ billion in & is managing $500 million in assets for clients.

Credit Sesame offers Target customers free ID protection, credit monitoring and credit scores without deadlines.

Jack Henry Banking’s Core Director processing platform deployed by Oklahoma State Bank and The Bank of Clovis in New Mexico.

BBVA Compass teams up with On Deck Capital to better score small business borrowers.

WSJ Personal Technology column recommends Dashlane as the “best way to manage online passwords.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Lending Club Announces Partnership with Union Bank

By David Penn Posted on May 5, 2014
Categories: Kabbage, Lending Club, Prosper

Between the proliferation of lenders at FinovateSpring 2014 demoing in San Jose last week, and today’s funding announcements from alums Prosper and Kabbage, it is clear that lenders in the 21st century will continue to demand their space in the fintech headlines.

Today brings news that Lending Club has reached a deal that will allow Union Bank to sell loans from Lending Club. The two organizations will also work together to develop new credit products and services to be made available to customers of both companies. In a press release, Lending Club cited the combination of its low operating costs and Union Bank’s “strong balance sheet and large customer base” as one of the synergies contributing toward the deal.

One key question is what sort of new credit products are Lending Club and Union Bank discussing? Details remain few and far between as this point. But this could be a significant development. It has been a goal of Lending Club to sell its loans to banks and other financial institutions. But the potential of a customer-facing link to Lending Club at FIs like Union Bank would be a very worthwhile opportunity for the P2P lender.

Lending Club also recently announced raising $115 million in debt and equity, and an acquisition of Springstone Financial. Based in San Francisco, California, Lending Club has issued more than $4 billion in personal loans since the end of March 2014. The company has also more than doubled its annual loan volume annually since its 2007 launch. With more than $335 in total capital raised, Lending Club has been valued at nearly $3.8 billion.

Union Bank is the primary subsidiary of UnionBanCal Corporation, a financial holding company with assets of more than $107 billion. Union Bank operates more than 400 branches in seven states in the U.S., as well as two international offices.

The partnership between Lending Club and Union Bank was announced at the LendIt 2014 conference in San Francisco on Monday. The arrangement represents the largest such partnership Lending Club has inked to date, and comes in the wake of Wells Fargo’s decision to reverse, or at least clarify, a policy that banned its employees from participating in P2P lending platforms.

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