Finovate Alumni News

On Finovate.com

  • “Finovate Debuts: TrueAccord Provides Kinder, Gentler Automated Debt Collection”
  • “HedgeCoVest Adds Two New Models to its Platform”
  • “CashSentinel Closes Seed Round of Undisclosed Amount”

Around the web

  • Dunkin’ Donuts, Fandango, Sundance Catalog and Williams-Sonoma now accept Visa Checkout.
  • Moven updates Android mobile app.
  • The Fintech blog features Q&A with LendUp CEO Sasha Orloff.
  • Bank Innovation profiles Hedgeable and its “one simple trick.”
  • Westpac Banking Corporation and New Zealand Banking Group are testing Ripple for payment transfers between subsidiaries.
  • Ixaris announces €4m Open Payments Ecosystem (OPE) project to support developers building payment apps.
  • TSYS to support Apple Pay when it launches in the U.K. in July.
  • Omnichannel account-opening solution from Zenmonics goes live at BBVA.
  • Austin Energy to adopt PaySecure platform from Acculynk.
  • Investopedia column on the “Top 5 Myths of Robo-Advisors” features Betterment, Wealthfront, and Vanguard.
  • BrightScope launches Fund Pages to provide detailed information about open-ended mutual funds.
  • Sam’s Club using Lending Club to offer financing to SMB customers.
  • FitSmallBusiness.com names OnDeck best provider of small business loans.
  • SunGard terminal selects Heckyl news and sentiment analysis.
  • Pindrop Security granted patent for phone antifraud and authentication technology.
  • Top Image Systems taps Bob Fresnel as new TIS Americas President.

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.

Finovate Alumni News

On Finovate.com

  • “PayPal’s Braintree Tapped to Turn Pinterest Browsers into Consumers”
  • “EyeVerify’s Partnership with Turkish Reseller Yields Vodafone Contract”
  • “U.K.-based TransferWise: Growth and Metrics Updates

Around the web

  • TradeHero updates mobile iOS app.
  • WSJ features how Venmo helps users instantly move money more cheaply.
  • Apple lists Xero among group of business apps Apple is using to market the iPad for use in business.
  • Indianapolis Business Journal looks at the rise of robo-advisors Betterment, Wealthfront, Hedgeable, and Motif Investing.
  • TSYS launches its Chip Card on Demand to help issuers make the transition through the October chip-liability shift.
  • Top Image Systems unveils its new mobile account opening and onboarding app, MobiENROLL.
  • Benzinga interviews Igor Gonta, CEO of Market Prophit, on the launch of his Twitter-based, social media, smart beta index.
  • Fox Business features Planwise, LendUp, Trulioo, Plaid, Wealthfront, TrueAccord, WePay, Flint, Lending Club, Prosper, LendingRobot, and FutureAdvisor in its roundup of “30 Hot Fintech Startups to Watch.”
  • New York Business Journal reviews its gamification strategy of PFM solution, Qapital.
  • Financial Times profiles LendUp and the “grubby end of U.S. debt.”

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.

AlwaysOn’s OnFinance Top 100 Features 30 Finovate Alums

AlwaysOn_homepage

More than a quarter of the companies recognized in AlwaysOn’s first OnFinance Top 100 roster are Finovate alums.

The OnFinance Top 100 is designed to recognize the Top 100 private companies in fintech. The list was chosen by the AlwaysOn editorial team, along with several venture capital firms and industry experts. The criteria included degree of innovation, market potential, commercialization, stakeholder value, and “media buzz.”

The list is divided into six categories, and Finovate alums are well represented in each. Category winners will be announced at Always On’s event at the NASDAQ OMX in New York City at the end of April 2015.

Banking and corporate finance

Big data and analytics

Capital markets and investing

Digital currencies

Payment platforms

Personal finance management

Headquartered in Menlo Park, California, AlwaysOn was founded in 2003 by Tony Perkins, founder and editor of Red Herring magazine. The company serves as a networking and social media platform for technology professionals in variety of fields, and has a membership of more than 5,000.

Alumni News– March 17, 2015

  • NerdWallet looks at Kabbage and LendUp as innovators in combining social media and lending.
  • Westlake Financial Services to deploy billpay solution from ACI Worldwide.
  • Bluefin Payment Systems partners with PCI University to provide PCI compliance education suite to Bluefin’s merchant base.
  • P2P Banking highlights Society One’s role in Australian P2P lending.
  • PaySimple now powers the payments, scheduling and reporting services for RainMaker, a membership management solution for martial arts schools.
  • Finovate Debuts: Yoyo is More than Just a Mobile Wallet.

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.

Alumni News—February 17, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTop Image Systems partners with Hanse Orga to offer capture-enabled accounts receivable payment processing for SAP & ERP.
  • QuantConnect LEAN Engine now 100% open source.
  • JetPay to support WePay’s launch in Canada.
  • LifePay acquires iboxPro, expands into Asian markets.
  • Fast Company names Motif, Likefolio, Fidor Bank, LendUp, Blooom, and LearnVest in the top innovative companies of 2015 in personal finance.
  • PluraVida selects Dwolla to process transactions between media suppliers and buyers.
  • CNBC interviews CEO Michael Carter, BizEquity, on its business-valuation service.
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.

Alumni News– August 13, 2014

  • Finovate-F-Logo.jpgNetbanker features 2012- 2013 fintech graduates from Y Combinator:  TrueLink Financial, Coinbase, and LendUp.
  • Netbanker features 2009- 2012 fintech graduates from Y Combinator: ZenPayroll, SmartAsset, TrustEgg, FutureAdvisor, ReadyForZero, and WePay.
  • American Banker considers how Diebold is leading the way on the branch of the future.
  • peerTransfer surpasses 500 clients, while processing over $1 billion in international payments.
  • Heartland Payment Systems buys out remaining shareholders of tablet software and hardware startup, Leaf.
  • ACI Worldwide announces completion of ReD acquisition.
  • Lending Club mentioned in HBR Blog’s look at how new lending technology can help small businesses.
  • Silanis Technology partners with loan management software specialist Calyx Software. See Silanis at FinovateFall 2014 in September.
  • planwise teams up with Informa Research Services to launch plug-and-play search tool of real estate agents and brokerages.
  • NextAdvisor column in HuffPo highlights LendUp as alternative loan option for the underbanked.
  • Pandai announces joint cooperation with China and Hollard to leverage their experience in the loan insurance market.
  • Xero and Square partner to sync Square transactions and give a business a view of their finances. See Xero present at FinDEVr. 
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.

Alumni News– August 12, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgUK peer-to-peer leader Zopa tops $1 billion.
  • TSYS launches its Enterprise Tokenization solutions to help boost e-commerce security.
  • Thomson Reuters introduces Watchlist Pulse, a buy-side app for its Eikon platform.
  • Jingit’s Co-CEO and Co-Founder Joe Rogness explains to PYMNTS how they combine advertising and payment transactions.
  • StockTwits adds Former Yahoo! CEO and Robert Peck, SunTrust Tech Analyst, to Board of Directors.
  • Nanalyze features Dynamics ePlate technology.
  • Australia’s The Age considers how Society One plans to undercut banks’ personal loan rates by 5%.
  • Knox Payments considers how Mint, LendUp, and Simple are empowering our increasingly cashless society.
  • Oink brings its youth payment technology to online game company, Smilegate West.
  • San Francisco 49ers football team adds Wealthfront to list of benefits for employees.
  • Luxoft opens new delivery center in Guadalajara.
  • CEB Blogs interview Wipro’s Chief Learning Officer Abhijit Bhaduri.
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.

LendUp Partners with MoneyGram to Enable Real-Time Offline Loan Repay

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For all the innovations in the ways alternative lenders connect borrowers with capital, it’s nice to see a little innovation on the side of lenders getting their money back.

LendUp announced this morning that it had inked two service arrangements with global money transfer and payments company, MoneyGram. The partnership will let LendUp borrowers use MoneyGram’s Express Payment Service to repay their loans. The service is available at 39,000 agent locations across the United States.
The goals, said LendUp CEO and co-founder, Sasha Orloff, was to provide “new payment options exactly where many of our customers prefer to do business.” In a statement, LendUp shared research that indicated that among “small dollar credit” consumers, “store location convenience” was a major factor.
LendUp_homepage_new
Echoing this fact was MoneyGram’s executive vice president of U.S. and Canada, Pete Ohser, who highlighted both innovation and convenience in celebrating the new relationship with LendUp.
And “new relationship” sounds like the proper way to think of LendUp and Moneygram going forward. Rather than a one-off deal, LendUp sees its relationship with MoneyGram growing to include additional products and services enabling access to credit via LendUp. Payment services are also under consideration going forward.
Founded in 2011, LendUp is based in San Francisco, California. The company demoed its RESTful API platform at FinovateSpring 2014 in San Jose, having won Best of Show honors the previous year at FinovateSpring 2013 in San Francisco. LendUp also made headlines in May with news that the company had raised a $50 million credit facility thanks to Victory Park Capital.

Alumni News– August 11, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMisys announces acquisition of Custom Credit Systems.
  • Wipit brings omni-payment functionality to its prepaid cash mobile wallet.
  • LendUp partners with MoneyGram to enable real-time offline loan repay.
  • Barclays Pingit adds eGift options through Blackhawk Network partnership.
  • WSJ reports how Wealthfront, Betterment, Future Advisor, Personal Capital, and Motif are changing the investment landscape.
  • Wired UK Magazine lists BehavioSec as one of Euorpe’s hottest startups. See BehavioSec at FinDEVr this September 30 through October 1.
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.

LendUp Gets $50 Million Credit Debt Facility

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With so many venture capitalists throwing money at alternative lenders in recent days, is it any surprise that they’ve begun hurling credit cards at these innovators, as well?

LendUp announced today that it has raised a $50 million credit facility from Victory Park Capital. This comes just a few months after picking up $14 million from Google Ventures and QED Investors in November.

LendUp co-founder Sasha Orloff credits rapid growth for the fresh funding needs of his company. He points to month-over-month growth between 10-20%, as well as expansion into Louisiana, Mississippi, Missouri, Oklahoma, and Tennessee as evidence that LendUp will make good on its goal of launching in a new state every two weeks, and originating 300,000 loans this year.
A pioneer in socially responsible lending, LendUp provides a source of money for those typically unable to borrow through banks and credit unions. LendUp combines financial education, gamification, and better loan terms than those typically offered by traditional non-bank lenders to build a business that serves rather than avoids non-prime borrowers.
LendUp was founded in 2011, and launched its platform a year later. The company was part of FinovateSpring 2014 in San Jose, California, where they demoed their technology. Video of LendUp’s demo will be available soon.