On Deck Capital Archives - Page 11 of 16

Alumni News– August 29, 2014

By David Penn Posted on August 29, 2014
Categories: Diebiold, Dwolla, Heckyl Technologies, Lending Club, On Deck Capital, PayPal, Stockpile, SumUp, TextPower

Heckyl to provide real-time news and data analytics courtesy of new partnership with Marketware International.

Diebold brings deposit automation and cash recycling services to consumers and FIs in Brazil. See Diebold at FinovateFall in September.

Dwolla makes MassPay official, offers a simpler experience with increased stability, improved reporting, and increased transactions per batch.

PYMNTS talks with SumUp CEO Daniel Klein, to understand how it views innovation in the mPOS space.

PayPal launches tool, PayPal Demo, to help developers show merchants the difference between different PayPal payment options.

CNBC’s National Business Report interviews Scott Goldman, CEO of TextPower.

American Banker profiles FinovateSpring 2014 Best of Show winner, Stockpile.

CNET takes a look at Lending Club in the wake of the company’s IPO filing.

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 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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Finovate Alums Take the Ranks in 2014 Inc. 5000 List

By Julie Muhn (@julieschicktanz) Posted on August 21, 2014
Categories: Lending Club, On Deck Capital

Inc. Magazine recently released the 2014 Inc. 5000 list that ranks the fastest growing privately-held companies in America. We combed the top 1,000 for Finovate alums and two made the cut. Many more are listed among the remaining 4,000 companies.

Before taking a closer look at the two fast-growing companies, here are some stats on the financial services sector as a whole ranked against the other 24 industry categories:

Revenue: It ranked 5 of 25 in 2013 revenue, with a total of $17.2 billion
Growth rate: It ranked 19 of 25 in growth over the course of 2010 to 2013, with a rate of 112%
Job creation: It ranked 12 of 25 in the number of jobs the industry created from 2010 to 2013

Here are the two Finovate alums that made the top 1000:

Lending Club, a peer-to-peer lending platform

Rank: 248

Founded: 2007

Headquarters: San Francisco, CA

3-year revenue growth: 18x

Lending Club demoed at FinovateStartup 2009

OnDeck, offers alternative loans to small and medium sized businesses

Rank: 726

Founded: 2007

Headquarters: New York City, NY

3-year revenue growth: 6.3x

FinovateSpring 2012 demo video

Come see what On Deck has for developers at FinDEVr in San Francisco.

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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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Finovate Alumni News– June 2, 2014

By Julie Muhn (@julieschicktanz) Posted on June 2, 2014
Categories: Dashlane, MasterCard, Mint.com, Monitise, On Deck Capital, Top Image Systems, TransferWise, Xero

Top Image Systems partners with K2 to blend capture and mobile imaging technology with BPM.

On Deck reports $3.4 billion, $22K job impact on economy courtesy of its small business lending platform.

Eurasian Bank to deploy mobile banking technology developed by Monitise Create.

MasterCard launches MasterPass in Singapore.

Forbes features Xero, looks at why it will keep growing.

Finextra considers how The FCA plans to foster UK fintech innovation companies like Monitise, TransferWise, and Nutmeg

Apple opens TouchID to third parties,
shows TouchID login example using Mint app in iOS 8 demo.

Dashlane reaches two million users milestone.

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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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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Finovate Alums Raise $600 Million in First Quarter of 2014

By David Penn Posted on April 2, 2014
Categories: Azimo, BankBazaar, Birdback, CAN Capital, Credit Karma, Doxo, Kantox, Kapitall, Kensho, Klarna, On Deck Capital, PayNearMe, Payoneer, peerTransfer, Realty Mogul, Red Zebra, SmartAsset, SocietyOne, Spreedly, ThreatMetrix, Tradeshift, ZenPayroll, Zopa

Want some context on the torrid pace of fintech financing in the first three months of 2014?

Consider this: a year ago, fourteen Finovate alums raised a total of more than $150 million in the first quarter of 2013.

A year later, we have just nine alums raising more than twice as much in the month of March alone.

March Madness, indeed.

Q1 of 2014 saw 23 Finovate alums walk away with just under $600 million in capital. The biggest haul of the quarter came courtesy of Klarna, which raised more than $125 million.

But there were plenty of similarly impressive fundraisings, including the $85 million raised by Credit Karma, and the $77 million and $75 million secured by OnDeck and Tradeshift, respectively.

Total raised = More than $592 million

January — $91 million raised by seven companies

BankBazaar: $13 million — blog post
CAN Capital: $33 million — blog post
doxo: $3.5 million — blog post
Kensho: $10 million — blog post
peerTransfer: $6 million — blog post
Spreedly: $500,000 — blog post
Zopa: £15 million ($24.7 million) — blog post

February — $139 million raised by seven companies

Birdback: $2.4 million — blog post
Kantox: $8.9 million — blog post
Kapitall: $13 million — blog post
PayNearMe: $20 million — blog post
Red Zebra Analytics: undisclosed — blog post
Tradeshift: $75 million — blog post
ZenPayroll: $20 million — blog post

March — $362 million raised by nine companies

Azimo: $10 million — blog post
Credit Karma: $85 million — blog post
Klarna: $125.3 million — blog post
OnDeck: $77 million — blog post
Payoneer: $25 million — blog post
Realty Mogul: $9 million — blog post
Smart Asset: $5.2 million — blog post
SocietyOne: $5 million — blog post
ThreatMetrix: $20 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 — March 25, 2014

By David Penn Posted on March 25, 2014
Categories: Backbase, Bazaarvoice, Betterment, Credit Karma, Entrepreneurial Finance Lab, Kapitall, Lending Club, On Deck Capital, Place2Give, SmartAsset, Top Image Systems, Wealthfront

Eleven Finovate alums win awards at PYMNTS Innovation Project 2014.

Bazaarvoice announces partnership with Spredfast.

TechCrunch: Wealthfront, OnDeck, Lending Club, Credit Karma, Betterment, and Kapitall “come of age.”

CMS Wire reviews Backbase’s customer experience platform.

Top Image Systems’ eFLOW to process the digital census of a country in EMEA in a deal worth more than $1 million.

Place2Give releases GIVE-API to provide access to its database of charities as well as its payment processing tech.

SmartAsset raises $5.2 million in series A funding. Come see their live demo at FinovateSpring next month in San Jose.

Netherlands Queen Maxima visits Entrepreneurial Finance Lab (EFL) to see its psychometric credit scoring methodology in action.

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 News– March 14, 2014

By Julie Muhn (@julieschicktanz) Posted on March 14, 2014
Categories: Arxan Technologies, Dynamics, Guide Financial, Klarna, Mambu, Mitek, On Deck Capital, Realty Mogul

Arxan Technologies wins in the Products and Services Excellence category of the Infosecurity Global Excellence Awards.

OnDeck’s CEO Noah Breslow appears on CNBC Squawk Box.

Mitek opens mobile imaging platform to developers.

Klarna raises £90 million to finance acquisition of Sofort.

Collision features Realty Mogul in its selection of “10 Top Startups with Powerful New Ideas.”

OnDeck tops $1 billion in small business loans.

CBS News features Dynamics‘ Hidden card, interviews CEO Jeff Mullen.

Yale microfinance program to deploy Mambu platform.

FPPad Bits and Bytes <a features Guide Financial in its latest video review.

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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OnDeck Raises $77 Million in Round Led by Tiger CapitalOnDeck Raises $77 Million in Round Led by Tiger Capital

By David Penn Posted on March 7, 2014
Categories: On Deck Capital

Talk about paying it forward. Alternative small business lender OnDeck announced today that it has raised $77 million from a team of investors led by Tiger Global Management.

The total funding for OnDeck now stands at $180 million, with an additional $300 million in debt financing.

Said OnDeck Chief Executive Noah Breslow about the process, “The market, the sector, and the company all lined up. Lending is the last sector to be disrupted.”

Also participating in the round were a sextet of existing investors:

First Round Capital
Google Ventures
Institutional Venture Partners
Peter Thiel
SAP Ventures
RRE Ventures

The funding comes as OnDeck reports that it will reach an all-time high of $1 billion in loans to small businesses by the middle of this month. Breslow says that he believes the company will double its revenues in 2014, and insists there are no IPOs plans in the immediate future. The new funding will help OnDeck build upon its marketing efforts, grow internationally, and begin to explore opportunities beyond its current loan product.

Here are a handful of interesting metrics for OnDeck:

Average loan size: $40,000
Maximum loan size: $250,000
Loan duration: 3-24 months
Growth in 2013: 150%
Revenues in 2013: $65 million
Employees: 240
Provided loans to businesses in 725 different industries

OnDeck is ranked #11 in Forbes “America’s Most Promising Companies list for 2014” (moving up dramatically from its #94 spot in 2013). The company is based in New York City, New York, and was founded in 2007. OnDeck demoed their technology at FinovateSpring in 2012. See them in action here.

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Finovate Alumni News– March 8, 2014

By Julie Muhn (@julieschicktanz) Posted on March 7, 2014
Categories: Actiance, BBVA, Braintree, Kensho, Loop, Moven, Numbrs, On Deck Capital, PayPal, Simple

Actiance partners with Shoutlet to integrate Shoutlet’s social marketing capabilities with Actiance Socialite.

PayPal’s Braintree to waive the first $50k of processing fees for startups building on its platform through its new Ignition program.

On Deck raises $77 million in funding round led by Tiger Capital.

Mechanics Bank’s Bradley Leimer takes a look at the lessons from BBVA’s acquisition of Simple.

Simple, Moven, and Numbrs are listed in American Banker’s feature “6 Apps That Are Making Bankers Jealous.”

Recode reviews Loop. Check out its new payment tech at FinovateSpring next month.

The Tally’s Financial News Fintech Focus column features Kensho.

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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