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Alumni News– August 6, 2014

By Julie Muhn (@julieschicktanz) Posted on August 6, 2014
Categories: Betterment, Feedzai, FutureAdvisor, Insuritas, Kapitall, Kreditech, LearnVest, Motif Investing, Personal Capital, Prosper, Radius, Ripple, SigFig, TradeKing, Wealthfront

Yahoo! Germany looks at financial innovation in Kreditech.

Prosper earns a spot on the 2014 AlwaysOn Global 250 Top Private Companies roster.

Feedzai launches anti-fraud, transaction scoring apps for Shopify and Big Commerce.

Forbes.com features Betterment, FutureAdvisor, Kapitall, LearnVest, Motif Investing, Personal Capital, SigFig, and Wealthfront in a discussion on Millennial generation investment habits.

Radius unveils its new website.

Richard Hagen, CEO of TradeKing Advisors, named to WealthManagement.com’s “Ten to Watch in 2015”.

Insuritas announces partnership with Financial Partners CU to open and manage its turnkey insurance solution.

Bank Innovation highlights alums SigFig and Ripple in a discussion on “8 under the radar fintech startups you should know.”

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 6, 2014

By David Penn Posted on August 6, 2014
Categories: Betterment, Feedzai, FutureAdvisor, Insuritas, Kapitall, Kreditech, LearnVest, Motif Investing, Personal Capital, Prosper, Radius, Ripple, SigFig, TradeKing, Wealthfront

Yahoo! Germany looks at financial innovation in Kreditech.

Prosper earns a spot on the 2014 AlwaysOn Global 250 Top Private Companies roster.

Feedzai launches anti-fraud, transaction scoring apps for Shopify and Big Commerce.

Forbes.com features Betterment, FutureAdvisor, Kapitall, LearnVest, Motif Investing, Personal Capital, SigFig, and Wealthfront in a discussion on Millennial generation investment habits.

Radius unveils its new website.

Richard Hagen, CEO of TradeKing Advisors, named to WealthManagement.com’s “Ten to Watch in 2015”.

Insuritas announces partnership with Financial Partners CU to open and manage its turnkey insurance solution.

Bank Innovation highlights alums SigFig and Ripple in a discussion on “8 under the radar fintech startups you should know.”

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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Finovate Alumni News — May 5, 2014

By David Penn Posted on May 5, 2014
Categories: DeMyst Data, FinovateSpring 2014, FutureAdvisor, ID.me, Jumio, Kashoo, LearnVest, Mint.com, Xero

Check out our Twitter highlights of FinovateSpring 2014 – from the opening demo to Best of Show.
LearnVest, Mint, and FutureAdvisor featured in Wall Street Journal column on managing your own money.

Forbes highlights Demyst.Data, showing how Big Data can be used to determine loan suitability for the underbanked.

Xconomy profiles authentication specialist, Jumio. Video of Jumio’s FinovateSpring 2014 demo will be available soon at Finovate.com.

Kashoo and Xero are among the cloud accounting apps reviewed in a new ebook by the Sleeter Group.

American Banker features Ondot Systems’ use of debit on/off controls via mobile device.

Backbase launches Backbase Engage, an out-of-the-box digital banking solution for FIs.

CUneXus proceeds to Innotribe Startup Challenge 2014 Semifinals.

Tradeshift extends “App” ecosystem and offers co-investment to encourage development on its platform.

Wearable tech company GTX now using Stockr to communicate directly with the investors.

Motherboard looks at Zighra’s next-gen kinetic ID that will recognize users by how they swipe on their phone.

MoneyDesktop named 1 of 8 of Utah’s Most Innovative Products.

SafetyPay partners with UOL BoaCompra, a leader in monetizing online games for Latin America.

VentureBeat looks at a government program that awards grants to companies working on an “Identity Ecosystem,” bringing to mind FinovateSpring 2014 alum, ID.me.

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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Tax Day Turns to Funding Day for Some: LearnVest Raises $28 Million, The Currency Cloud Pulls in $10 Million

By Julie Muhn (@julieschicktanz) Posted on April 15, 2014
Categories: Funding, LearnVest, The Currency Cloud

Most of us know April 15 as Tax Day, but for three Finovate alums, today is about a different flow of money than a tax return. Aside from Betterment’s announcement of its $32 million round (see our post from this morning), LearnVest pulled in $28 million in Series D funding, while The Currency Cloud garnered $10 million in Series B.

LearnVest, a personal financial management and planning platform and service

New funding: $28 million Series D
Investors: Northwestern Mutual Capital, Accel Partners, and American Express Ventures
Total Funding: $69 million
Founded: 2007
Headquarters: New York, NY

LearnVest will use the funding to boost hiring efforts at its Arizona-based Expert Hub and to scale its LearnVest at Work channel, which won Best of Show at FinovateFall 2013.

Check out its Best of Show-winning FinovateFall 2013 demo video:

The Currency Cloud, a company that powers international payments with its API that enables secure, global payments

New funding: $10 million
Investors: Atlas Venture, Anthem Venture Partners, Notion Capital, XAnge Private Equity, Silicon Valley Bank
Total funding: $17 million
Founded: 2012
Headquarters: London

The Currency Cloud will use the funding to expand its focus on the UK and Europe to a more international realm, specifically into the the U.S.

Check out The Currency Cloud’s demo from FinovateEurope 2014, where it debuted its new e-wallet functionality and user interface.

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Finovate Alumni News– April 8, 2014

By Julie Muhn (@julieschicktanz) Posted on April 8, 2014
Categories: Betterment, BillGuard, Check, defi Solutions, Equifax, Jumio, Leaf, LearnVest, Level, Metaforic, Mint.com, ShopKeep POS

PYMNTS: Shopkeep POS undergoes latest revision and releases 2.0 version.

ABC News features BillGuard.

INSIDE Secure acquires Metaforic.

Jumio partners with Equifax to make mobile transactions more secure.

Leaf launches Payments Apps Marketplace.

Dallas Business Journal names defiSOLUTIONS CEO Stephanie Alsbrooks one of its 40 Under 40. See defiSOLUTIONS demo at FinovateSpring in San Jose.

Bloomberg column on apps for financial health features Level Money, Check, Mint, LearnVest, and Betterment.

Level Money earns spot on Entrepreneur.com’s “5 Must-Watch San Francisco Tech Startups in 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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LearnVest-Inspired Book, Financially Fearless, Tops Charts as Best Seller

By Julie Muhn (@julieschicktanz) Posted on January 15, 2014
Categories: LearnVest

For a fintech company to succeed outside of the digital realm in the physical world of print is not an easy feat. It makes sense, however, that a company with as much spunk as LearnVest has been able to make a splash with a book.

Alexa Von Tobel, LearnVest Founder and CEO, has been a rising star in the personal finance realm lately. The New York-based CEO released her own book, Financially Fearless, at the end of last year, and it has recently been listed as the #5 New York Times Best Sellers list in the category of Advice, How-to, and Miscellaneous.

Additionally, it reached:

Wall Street Journal Best Seller #1 hardcover in Business and #5 Hardcover in Non-Fiction categories
Chicago Tribune Best Seller #5 in Hardcover Non-Fiction category
Apple iBooks Best of 2013
Amazon Best Seller (during the weeks of December 22 and 29, 2013)

Readers who forward their book receipt to fearless@learnvest.com can receive a little extra motivation:

Advanced access to a $50 credit to LearnVest Planning and one month of support for free ($19 value).
Two free tickets to attend LearnVest Live in either New York City, Boston or San Francisco.
Exclusive access to January’s premium live, online event – featuring Alexa and covering what you need to know to set achievable goals in 2014.
A 10 minute 1:1 session with Alexa (availability is limited).
Alexa’s money hacks “cheat sheet.”

To learn more about LearnVest, check out its FinovateFall 2013 demo, where it debuted its Action Program.

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Finovate Alumni News– January 6, 2014

By David Penn Posted on January 6, 2014
Categories: BillGuard, CurrencyFair, Expensify, FinanceIt, FlexScore, FutureAdvisor, Geezeo, Google, Jemstep, LearnVest, Level, MasterCard, Mint.com, Personal Capital, Saved Plus, Signifyd, Simple, TIO Networks, Wallaby Financial, Wealthfront

Checking in with FlexScore is top of the list in this Forbes column on financial planning for those turning 50 this year.

Mint, Personal Capital, SavedPlus, and LearnVest earn spots on Fox Business’ list of “5 apps to help keep your 2014 financial goals.”

CodeSumBlog names BillGuard as its top financial management productivity app.

MasterCard completes acquisition of Provus, Turkey’s leading independent payments processor.

Google announces that customers can now activate their Google Wallet card via the mobile app.

CurrencyFair highlighted in New York Times column on Ireland’s tech start-up scene.

Check out numbers from Simple’s year in review with 6.6 million transactions.

The Financial Post covers FinanceIt’s POS financing solution.

Expensify revamps UI and adds executive assistant permissions with new “Wingman” feature.

Novartis to offer Geezeo-powered PFM.

Forbes lists LearnVest, Personal Capital and BillGuard as apps for saving money.

Xconomy lists Jemstep and Personal Capital as two new online services to put you back in command of your 401(k).

TIO Networks acquires Globex Financial Services to add well-known & respected billers to TIO’s business.

Signifyd API adds fraud prevention to ecommerce platforms.

Saved Plus, Wallaby, FutureAdvisor, Wealthfront, and Level picked for CNN Money’s list of the 15 best financial sites and apps.

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 Alumni Raise $825 Million in 2013, Up 79%

By Julie Muhn (@julieschicktanz) Posted on January 2, 2014
Categories: Affinity Solutions, Apprenda, Azimo, Bill.com, BillFloat, Cardlytics, Check, Clover Network, CoverHound, Credit Karma, CurrencyFair, DeviceFidelity, Doxo, Dwolla, ERN, Fenergo, FinanceIt, Flint Mobile, FTRANS, Funding, Heckyl Technologies, Jemstep, Kofax, Kony Solutions, LearnVest, Lendio, LendUp, Meniga, Moven, Narrative Science, Numbrs, On Deck Capital, OpenCoin, P2BInvestor, Payfone, PayNearMe, peerTransfer, Personal Capital, Ping Identity, Prestadero, Prosper, Q2ebanking, Receivables Exchange, SafetyPay, SeedInvest, Socure, SoMoLend, Spreedly, SumUp, Swipely, Taulia, TradeHero, Tradeshift, TransferWise, True Office, Trustev, Tuition.io, Wealthfront, Wipit, Xero, Zooz

Cheers to a new year! After ringing in 2014, we wanted take a look back at the capital raised by Finovate alumni in 2013. It was quite a year, with alums pulling in $825 million, $365 million more than in 2012 for an increase of about 80%.

2013 funding summary:

62 companies raised $825 million
Q4 had the most capital, with a total of $294 million raised by 17 companies (more than half by Xero, which landed $150 million).
October was the busiest month, with $177 million raised (mostly Xero’s $150 million)
May was second highest with $91 million raised by 7 companies

2012 comparison

Last year Finovate alums took in almost twice as much as 2012, when 44 Finovate alums collectively raised $460 million. The chart below shows the quarter-by-quarter comparison for both years.

Quarter 1 — blog post
More than $155 million raised by 14 companies

January — $57 million raised by 6 companies

Azimo: $480,000 — blog post
BillFloat: $21 million — blog post
Clover: $3 million — blog post
PayNearMe: $10 million — blog post
Prosper: $20 million– blog post
True Office: $3 million — blog post

February — $56 million raised by 5 companies

Affinity Solutions: $6.75 million — blog post
CoverHound: $5.5 million — blog post
DeviceFidelity: $1 million debt financing — blog post
On Deck Capital: $42 million — blog post
Tuition.io: $1 million — blog post

March — $42 million raised by 4 companies

DeviceFidelity: $470,000 — blog post
SoMoLend: $2 million — blog post
Q2 (Q2ebanking): $20 million — blog post
Wealthfront (formerly KaChing): $20 million — blog post

Quarter 2 — blog post
More than $205 million raised by 15 companies

June — $81.7 million raised by 6 companies

Affinity Solutions: $21 million — blog post
Kony Solutions: $18.3 million — blog post
peerTransfer: $6.4 million — blog post
Personal Capital: $25 million — blog post
Receivables Exchange: $10 million — blog post
SeedInvest: $1 million — blog post

May — $91.5 million raised by 7 companies

Cardlytics: $40 million — blog post
Dwolla: $16.5 million — blog post
On Deck Capital: $17 million — blog post
OpenCoin: undisclosed — blog post
SumUp: undisclosed — blog post
Swipely: $12 million — blog post
TransferWise: $6 million — blog post

April — $32 million raised by 2 companies

Credit Karma: $30 million — blog post
Zooz: $2 million — blog post

Quarter 3 — blog post
More than $171 million raised by 22 companies

July — More than $63 million raised by 8 companies

FTRANS: $2.1 million — blog post
SumUp: undisclosed — blog post
LearnVest: $1.6 million — blog post
Meniga: $6.5 million — blog post
Prestadero: $400,000 — blog post
Ping Identity: $44 million — blog post
SafetyPay: $7 million — blog post
ERN Global: $1.6 million — blog post

August — More than $26 million raised by 6 companies

Lendio: $4.5 million — blog post
Taulia: $18 million — blog post
Kofax: $2 million — blog post
Moven: undisclosed — blog post
Socure: $1 million
ERN Global: $1 million — blog post

September — $82 million raised by 9 companies

MyHero/TradeHero: $10 million — blog post
Azimo: $1 million — blog post
Lendio: $4.5 million — blog post
Prosper: $25 million — blog post
P2B Investors: $1.2 million — blog post
Wipit: $1.1 million — blog post
Narrative Science: $11.5 million — news story
Numbrs: $3.8 million — blog post
Check: $24 million — blog post

Quarter 4
More than $294 million raised by 17 companies

October— $177 raised by 6 companies

ERN Global: $1 million — blog post
Fenergo: $5.4 million (4 million Euro) — blog post
Flint Mobile: $6 million — blog post
Jemstep: $4.5 million — blog post
Payfone: $10 million — blog post
Xero: $150 million — blog post

November — More than $87 million raised by 7 companies

Apprenda: $16 million — blog post
Bill.com: $38 million — blog post
CurrencyFair: $2.5 million — blog post
FinanceIt: $13 million — blog post
LendUp: $14 million — blog post
Ripple Labs: $3.5 million — blog post
Spreedly: $500,000 — blog post

December — More than $30 million raised by 6 companies

doxo: $3.5 million – blog post
Flint Mobile: $2 million — blog post
Heckyl Technologies: more than $3.5 million — blog post
peerTransfer: $6.2 million – blog post
Tradeshift: $15 million — blog post
Trustev: $500k — blog post

Note: Funding that companies received before they first appeared at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

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Finovate Alumni News– December 6, 2013

By David Penn Posted on December 6, 2013
Categories: Betterment, Cartera Commerce, Comarch, FutureAdvisor, Jemstep, LearnVest, Moven, ThreatMetrix, TransferWise, Wealthfront

Money Under 30 reviews the Moven app.

Bloomberg BusinessWeek takes a look at Comarch’s report on banking in London’s “Tech City”.

Taavet Hinrikus, co-founder of TransferWise, weighs in on the state of the UK’s financial technology industry.

ThreatMetrix protected 1 in 4 U.S. e-commerce transactions on Black Friday and Cyber Monday.

Cartera Commerce launches American Airlines’ Mobile AAdvantage shopping site.

The Guardian profiles “robo-advisors” Betterment, LearnVest, FutureAdvisor, Wealthfront, and Jemstep.

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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Third Quarter 2013 Funding for Finovate Alumni — More than $171 Million Raised

By David Penn Posted on October 3, 2013
Categories: Azimo, Check, ERN, FTRANS, Kofax, LearnVest, Lendio, Meniga, Moven, Narrative Science, Numbrs, P2BInvestor, Ping Identity, Prestadero, Prosper, SafetyPay, Socure, SumUp, Taulia, Wipit

The third quarter of 2013 revealed that even during the sleepy days of summer, the business of putting capital into the coffers of fintech innovators remained as busy as ever.

Finovate alumni were the beneficiaries of more than $171 million during July, August, and September. This brings the total year-to-date funding for Finovate alumni to at least $526 million (some of the funding amounts were undisclosed).

Here is the Q3 summary for 2013:

July — More than $63 million raised by eight companies

FTRANS: $2.1 million — blog post
SumUp: undisclosed — blog post
LearnVest: $1.6 million — blog post
Meniga: $6.5 million — blog post
Prestadero: $400,000 — blog post
Ping Identity: $44 million — blog post
SafetyPay: $7 million — blog post
ERN Global: $1.6 million — blog post

August — More than $26 million raised by six companies

Lendio: $4.5 million — blog post
Taulia: $18 million — blog post
Kofax: $2 million — blog post
Moven: undisclosed — blog post
Socure: $1 million
ERN: $1 million — blog post

September — $82 million raised by nine companies

MyHero/TradeHero: $10 million — blog post
Azimo: $1 million — blog post
Lendio: $4.5 million — blog post
Prosper Marketplace: $25 million — blog post
P2B Investors: $1.2 million — blog post
Wipit: $1.1 million — blog post
Narrative Science: $11.5 million — news story
Numbrs: $3.8 million — blog post
Check: $24 million — blog post

Note: Fundings prior to a Finovate appearance not included. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

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Finovate Alumni News– September 13, 2013

By David Penn Posted on September 13, 2013
Categories: Dashlane, eDeposit, Emida, IDology, InComm, Interactions, LearnVest, mBank & Accenture, Mitek, MoneyDesktop, Motif Investing, Numbrs, TipRanks, TradeKing, Yodlee

TradeKing wins FINRA approval for acquisition of GAIN Securities.

Numbrs AG earns $3.8M in funding from parent Centralway.

Interactions, LearnVest, mBank & Accenture, Mitek, Money Desktop, Motif Investing, TipRanks, and Yodlee pick up Best of Show awards at FinovateFall 2013.

InComm, in partnership with CVS/pharmacy wins Best Third-Party Card Retailer Award.

Standard Distributing and Other Side Produce select eDeposit as their web and mobile payment solution.

Emida launches new smartphone POS app, available worldwide.

Dashlane launches iPad app.

IDology launches ExpectID Global, an international expansion of its solution.

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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