Finovate Alumni News


  • Nubank Reaches Out to Brazil’s Underbanked with Addition of Digital Accounts.

Around the web

  • Built In Colorado names Gusto, Ping Identity, Personal Capital, Xero, PaySimple, Vantiv in its list of Top 100 digital tech companies in Colorado.
  • Compass Plus among the first software vendors to connect to the MirAccept 2.0 platform from NSPC.

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


  • Responsive Tiles from Geezeo Help Banks Build Personalized Digital Experiences.
  • Accenture Acquires Verax to Boost Canadian Operations.
  • Urban FT Bids to Acquire Digiliti Money [UPDATE: Bid Rejected]

Around the web

  • Let’s Talk Payments interviews David Vélez, founder of Nubank.
  • Visa to encourage Australian banks to embrace biometric authentication in new security roadmap.
  • InComm buys distribution rights to American Express’ prepaid reloadable and gift card business in the U.S.
  • Flywire Simplifies Compliance with New Cross-Border Education Payment Requirements in Ireland.

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.

Nubank Raises $80 Million in Series D Funding


Financial services innovator Nubank closed on $80 million in Series D funding led by DST Global earlier this month, marking DST’s first investment in a Brazilian company. Other participants in the round include Founders Fund, QED Investors, Redpoint, Ribbit Capital, Sequoia, and Tiger.

This is Nubank’s sixth round of funding and brings its total amount raised to $178 million. While there was no report of the company’s latest valuation, FT Partners reports that after its $52 million Series C round closed in January, Nubank was valued at $500 million. The company will use the funds to accelerate hiring efforts and expand its product offerings. Specifically, Nubank hopes to add a rewards program and add more credit products.


Founded in 2013, Nubank offers a Mastercard credit card with a companion mobile app that features PFM capabilities, spending alerts, and a card-lock feature. The company has had success in differentiating itself from other financial institutions in Brazil, which offer credit cards with 400% APR. In comparison, Nubank’s APR comes in significantly lower at 145%. This differentiation has led to Nubank receiving 7 million applications for its card, which currently holds a waiting list of 500,000 applicants.


Nubank Co-founder and CTO Edward Wible, along with Lucas Cavalcanti, lead software engineer, showcased at FinDEVr New York 2016 (pictured above) in a presentation titled Our Money, Our Rulebook. which explored how Nubank deals with real-time, double-entry accounting on a per-customer basis. In October, H2 Ventures and KPMG listed Nubank among 50 leading fintech companies.

FinDEVr APIntelligence

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  • Nubank Raises $80 Million in Series D Funding”

The latest from FinDEVr Silicon Valley presenters

  • Aerospike announces 100% year-over-year bookings growth.
  • NuData Security partners with Arvato Financial Solutions to combat fraud and enable a smoother customer experience.

Alumni updates

  • InComm partners with MOL Global to launch PlayStation Network prepaid products to be distributed through 7-Eleven stores in Indonesia.
  • Commerce Bank chooses Temenos to upgrade core deposit banking system.
  • Token signs memorandum of understanding (MoU) with Fidor Bank for digital payments.
  • interviews Nick Thomas, cofounder of Finicity, in the wake of his company’s latest funding round.
  • Arxan Technologies wins six industry IoT security awards.
  • TemenosMarketPlace receives the Banking Technology Readers’ Choice Award for “Best emerging/innovative technology product/service” at the Annual Banking Technology Awards.
  • InComm expands partnership with Target Australia to offer gift cards in stores and online.
  • PayPal teams up with Citibank, FIS to expand cross-channel presence.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Finovate Alumni News


  • “Roots Rock: eMoney Advisor Reports Breakout Revenue Metrics for 2016″
  • Check out this week’s “FinDEVr APIntelligence”
  • Nubank Raises $80 Million in Series D Funding”
  • “Finovate Debuts: Agreement Express Helps Advisers Offer Non-Intrusive Onboarding”

Around the web

  • Nostrum CFO Neil Warman re-elected to Confederation of British Industry (CBI) regional board.
  • Qumram wins 2016 Private Banking International (PBI) award for Outstanding Front-End Digital Solutions Provider.
  • Ovum recognizes Backbase as digital banking platform market leader.
  • Comarch partners with TrustWeaver to make e-invoicing cross-border compliant.
  • True Potential listed in the Deloitte Technology Fast 500 EMEA for the fourth consecutive year.
  • Fundable profiles DAVO’s funding since its 2011 launch and its milestone of 800 clients.
  • Orca Money interviews Scalable Capital CEO Adam French.
  • Luxoft wins Best Enterprise Systems Integrator in Constellation Research’s 2016 Enterprise Awards.
  • Zopa takes home two awards at the AltFi Awards and wins Best P2P Lending Platform at the F5 Awards.
  • InComm partners with MOL Global to launch PlayStation Network prepaid products to be distributed through 7-Eleven stores in Indonesia.

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

H2 Ventures and KPMG Unveil 2016 Fintech 100


H2 Ventures and KPMG have released their Fintech 100 roster for 2016. Divided equally between 50 “industry leaders” and 50 “emerging stars,” the roster features 17 Finovate/FinDEVr alums in the first category, and 10 in the second. Calling its roster a “celebration” of the most compelling innovators in this “bold new space,” the H2 Ventures/KPMG 2016 Fintech 100 covers a variety of different shades of fintech:

  • Lending (32 companies)
  • Payments (18 companies)
  • Insurance (12 companies)
  • RegTech (9 companies)
  • Data & analytics (7 companies)
  • Wealth management (6 companies)
  • Blockchain (5 companies)
  • Digital currency (5 companies)
  • Capital markets (3 companies)
  • Crowdfunding (2 companies)
  • Accounting (1 company)

And here is a look at how Finovate/FinDEVr alums fared. Earning recognition among the companies in the Leading 50 group are:

Also noteworthy in the Leading 50 are Ant Financial, which acquired Best of Show-winning EyeVerify in September 2016, and Avant, which acquired Finovate alum ReadyForZero in the spring of 2015.

Additionally, Finovate/FinDEVr alums earning spots in the Fintech 100’s 50 Emerging Stars roster were:

The H2 Ventures/KPMG report includes a geographic breakdown of the 2016 Fintech 100, as well as a set of key takeaways such as increased geographic diversification, the return of lending, the continued ascent of Insurtech, and the appearance of RegTech. The report also notes that China now has four out of the top five companies in the report’s top 10, and eight companies in the top 50. The report says funding for fintech “continues to rise,” and its authors cite more than $14 billion in capital was raised by the Fintech 100 in the past year.