Finovate Alumni News

On Finovate.com

  • GoDaddy Adds SME Financing Option with Kabbage Partnership.
  • Ephesoft Drives Digital Automation in Thailand via Language Recognition.

Around the web

  • Forbes features OurCrowd’s approach to startup investing.
  • Flywire appoints former Apple Pay executive Rob Orgel as President and Chief Operating Officer.
  • Kabbage forms distribution partnership with GoDaddy.
  • Creditinfo recognizes five°degrees as one of Iceland’s Strongest Companies for the 9th consecutive year.
  • The Milford Bank goes live with Plinqit’s savings app.

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

  • Currencycloud’s Currencycloud Spark Powers Multi-Currency Accounts.
  • The Tightly-Knit Mortgagetech Sector Gets Even Tighter as Ellie Mae Acquires Capsilon.

Around the web

  • Tradeshift teams with Genpact to help clients enhance accounts payable and procurement processes.
  • OurCrowd to join the Millennium Alternative Investment Networkto increase VC opportunities in the U.S.
  • Finextra talks to Nutmeg about expanding the human side of its roboadvisory.
  • Dwolla unveils The Integration Partner Program for more seamless technical integrations between Dwolla, its partners, and their clients.
  • Finantix appoints Christine Ciriani as Chief Commercial Officer.
  • NCR teams with Brightwell to supply ATMs and managed services for Brightwell’s largest cruise line clients.

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.

OurCrowd Teams Up with Toyota in Search for Tech Talent

Israel-based global venture investing platform OurCrowd announced a partnership with Toyota Tsusho Corporation today. OurCrowd and the Japanese general trading company – and member of the Toyota Group – have forged a business and technology scouting partnership that will seek out startups innovating in areas that support autonomous driving. This includes services and products leveraging technologies such as sensors, image recognition, data compression, and security.

OurCrowd will serve as a “technology scout” per the arrangement, which will leverage the company’s local and global networks, deal flow pipeline, and roster of portfolio companies to find innovators not just in mobility, but in other areas ranging from smart cities to big data in agriculture, as well.

“We are proud to be partnering with a general trading company such as Toyota Tsusho,” OurCrowd founder and CEO Jon Medved said. “Not only do they represent a 70 year tradition of excellence in global business, but they are focused on solving real global problems. Together we can help startups turn into ‘scaleups’ by providing access to Toyota Tsusho’s unrivaled platform that can deploy new technologies and products quickly and effectively in over 120 markets around the world.”

Toyota Tsusho EVP, Regional CEO and CTO Minoru Murata added that constructive relationships between technology leaders and startups are critical to incumbents, as well. “To ensure our future leadership we must identify, invest, and work with startups who are changing the world we live in,” Murata said.

OurCrowd demonstrated the mobile app for its crowd investing platform for accredited investors at FinovateSpring 2016. Founded in 2013, OurCrowd has $1.2 billion in committed funds, and has invested in 200 portfolio companies and funds. More than 37,000 accredited and institutional investors from 183 countries have funded startups via OurCrowd.

Earlier this month, OurCrowd announced that Stifel Financial Corporation had taken a minority stake in the company. The investment, amount undisclosed, also includes a strategic partnership that will enable Stifel’s investors to access offerings from the OurCrowd platform. Stifel is the 7th largest retail brokerage in the U.S. with more than $300 billion in client assets.

In September, OurCrowd opened an office in Sao Paulo, Brazil, the company’s 13th global location. That month, the company also announced a partnership with Finistere, Tnuva, and Tempo to launch a foodtech incubator. It’s worth noting that OurCrowd’s most recent – and arguably most famous – exit is Beyond Meat, which went public earlier this year.

This summer, in a sign of increasing interest in the U.S., OurCrowd unveiled new offices in Chicago, Illinois, its third in the country.

Finovate Alumni News

On Finovate.com

  • Splitit Secures Partnerships with Shopify, Divido.
  • Thought Machine Helps Standard Chartered Launch Digital Bank in Hong Kong.
  • OurCrowd Teams Up with Toyota in Search for Tech Talent.
  • Saving for What Matters: A Q&A with INSPIRAVE Founder and CEO Om Kundu.

Around the web

  • FinovateFall Best of Show winner Cinchy earns $500,000 cash prize as one of the winners of the 2019 VentureClash competition.
  • Signicat unveils new capabilities, including a new technical interface and new third party integrations, that extend the reach of its digital identity verification technology.
  • Arkose Labs VP of Marketing and Strategy Vanita Pandey and Senior Producer Hedda Peters win Women in Cybersecurity honors at the Cyber Defense Global Awards sponsored by Cyber Defense Magazine.
  • nCino partners with Seacoast Bank ($8.6 billion in assets).
  • iProov earns a finalist spot in the 2019 Go:Tech Awards.
  • Compliance and risk management firm Middesk brings its business verification tool to the Dwolla Partner Ecosystem.
  • Kinetica opens office in Melbourne, Australia.
  • Ping Identity adds to its North European operations with a new office in Utrecht, Netherlands.

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.

Investment Firm Takes Minority Stake in OurCrowd

Global crowdfunding platform OurCrowd is padding its pockets today with funding from investment banking firm Stifel. Terms of the deal, which brings a strategic partnership between the two companies, were not disclosed.

Stifel has taken a minority stake in OurCrowd, boosting the company’s total funding up over $112.5 million. OurCrowd’s past investors include Alta Berkeley Venture Partners, United Overseas Bank, and individual investors.

“Partnering with a leading U.S.-based wealth management and investment banking firm like Stifel is yet another major step toward further expanding the OurCrowd brand and investor base,” said OurCrowd Founder and CEO Jon Medved. “We also look forward to collaborating with Stifel’s investment and venture bankers to identify potential ways we can help identify and best support prospects and portfolio companies.”

Under the partnership, the two companies will build an investment portal for Stifel’s accredited investor clients that offers access to venture capital funds and individual portfolio companies on a deal-by-deal basis. In exchange, Stifel will offer OurCrowd’s portfolio companies investment banking services.

Stifel CEO Ronald Kruszewski, whose U.S. retail brokerage has 2,200 advisors overseeing more than $300 billion in client assets under management, said that he anticipates the partnership will offer the firm’s investors access to the “ever-expanding” category of venture capital. “Through this partnership, our clients will gain access to attractive, early-stage investment opportunities that have been typically restricted to traditional VC firms and family offices,” he said.

OurCrowd’s platform hosts almost 37,000 registered investors from 183 countries. The Israel-based company allows these users to participate in startup investment opportunities alongside VCs and institutional co-investors at the same terms. OurCrowd’s curated deal selection process employs a team of investment professionals to review thousands of companies, meet with selected management teams, and select opportunities for investors.

Since it was founded in 2013, OurCrowd has made more than $1.28 billion in commitments and has invested in 200+ companies and funds, 35 of which have made successful exits. At FinovateSpring 2016, the company debuted the OurCrowd mobile app. 

Finovate Alumni News

On Finovate.com

  • Investment Firm Takes Minority Stake in OurCrowd.
  • Bill.com’s New Release Targets Midmarket Companies.
  • DriveWealth Teams with Nigerian Trading Platform.
  • Lidya Launches SME Lending Platforms for Poland and Czech Republic.

Around the web

  • CU Broadcast features Larky CEO and Co-founder Gregg Hammerman.
  • eToro partners with The TIE to develop unique sentiment-driven investment strategies for traders.
  • Trustly launches Trustly Live to bring instant cashless payments to land-based casinos and sportsbooks.
  • Home Bank renews relationship with Baker Hill, adding Baker Hill NextGen CECL and Baker Hill NextGen Business Loan Origination.
  • Salt Edge to power PSD2 API for Habib Bank AG Zurich.
  • Chetu earns #3 for dollar growth and #15 for percentage growth at the SFBJ technology awards 2019.
  • Insuritas to power bank-owned insurance agency for Signature Bank of Georgia Partners.

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.

PayPal Goes to China; Dubai Named Top Ten Global Financial Center

Join us next week as our annual Asia-Pacific fintech conference returns to Singapore! FinovateAsia is one of the best ways for fintech startups and innovative industry veterans from the region and around the world to showcase their latest technologies before an audience of C-level decision-makers, venture capitalists, all-star analysts, and more.

FinovateAsia runs from October 14 through October 15, with an additional Summit Day on October 16. Visit our registration page and pick up your ticket today.

Sub-Saharan Africa

  • Finovate alums Hydrogen, Sedicii, Strands, and Wealth Migrate earn finalist spots in the South African Reserve Bank’s Fintech Demo Day.
  • Carbon CEO Chijioke Dozie offers Five Lessons Global Banks Can Learn from African Fintechs.
  • Business Tech highlights 12 of the hottest fintechs in South Africa according to the country’s biggest banks.

Central and Eastern Europe

  • Alior Bank’s Alior Kantor to deploy Efigence’s EFI4 Digital Banking Platform.
  • Deloitte Romania and FintechOS partner to offer banks digital transformation and automation solutions.
  • Sberbank unveils new “Apply for Mortgage” feature on its Sberbank Online mobile app.

Middle East and Northern Africa

  • Dubai earns top ten ranking in the Global Financial Centres Index (GFCI).
  • Boubyan Bank of Kuwait and Zain Telecom team up to launch a digital Islamic bank.
  • Saudi Capital Market Authority (CMA) authorizes financial technology experimental permits enabling three companies to build an equity crowdfunding platform.

Central and Southern Asia

  • Khatabook, an Indian fintech that helps SMEs track and record businesses transactions, raises $25 million.
  • Varanium Capital launches $28 million venture fund focused on Indian fintech.
  • Indian fintechs await regulatory guidelines for deployment of Video KYC technology.

Latin America and the Caribbean

  • OurCrowd to open its 13th global office in São Paulo, Brazil.
  • Colombian small business lender Sempli raises $8 million in Series A funding.
  • EBANX will process payments for Uber in Brazil and other countries in Latin America.

Asia-Pacific

  • PayPal’s Move into China is a Big Deal.
  • Fintech in Asia: From Payments and Lending to the Challenge of Financial Inclusion.
  • InComm partners with Mizuho Bank to expand J-Coin Pay in Japan.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • Alior Bank’s Alior Kantor to Deploy Efigence’s EFI4 Digital Banking Platform.
  • Fintech in Asia: From Payments and Lending to the Challenge of Financial Inclusion.

Around the web

  • Tradeshift partners with Monerium to enable Nordic Store to purchase goods from IKEA using programmable digital cash.
  • Lighter Capital appoints Thor Culverhouse new CEO.
  • OurCrowd to open its 13th global office in São Paulo, Brazil.
  • Jack Henry appoints Ted Bilke as new CTO and promotes Greg Adelson to new Chief Operating Officer position.
  • Deloitte Romania and FintechOS partner to offer banks digital transformation and automation solutions.
  • Finastra launches Fusion Mortgagebot Data Insights, a tool to benchmark mortgage borrower information for banks and credit unions against other Fusion MortgagebotPOS users.
  • InComm adds Giant Eagle to its Healthcare OTC Network.
  • Westcon-Comstor to distribute Check Point Software.

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

  • BNP Paribas to Deploy Dynamic Hedging Tech from Kantox.
  • Terafina Teams Up with Alabama’s Listerhill Credit Union.

Around the web

  • Klarna deepens ties with H&M to enable customers to shop now and pay later using the H&M app.
  • NICE’s AML and fraud SaaS solutions to power financial crime strategy for both anti-money laundering compliance and enterprise fraud protections.
  • Terafina to power Listerhill Credit Union’s omnichannel sales strategy and continue its digital transformation to increase member satisfaction and deepen relationships.
  • OurCrowd expands U.S. operations, opens office in Chicago.
  • ID R&D’s IDLive Face to power remote customer account openings and digital ID verification for Innov8tif’s EMAS eKYC.
  • ndgit and Synpulse launch international fintech marketplace in Switzerland.
  • Macrosoft joins Quadient’s Partner Advantage Program.
  • Onfido reports strong revenue growth momentum for Q2 2019; earns recognition from The Sunday Times as one of the fastest growing private companies in the U.K.

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.

OurCrowd’s New Partnership Promotes Startup Investment in Europe

Equity crowdfunding platform OurCrowd formed a partnership this week with NOAH Advisors to boost investment for European startups.

NOAH Advisors, a European corporate finance boutique, will work alongside the Israel-based company as it expands its portfolio into European startups. The two will focus on Germany, Switzerland, and the U.K.

“Europe is practically next door, with many Israeli startups choosing to focus on this market,” said OurCrowd CEO Jon Medved. “There are amazing innovations being developed in Europe now, and now is the time to bring Israel and Europe closer, collaborating on new ideas and innovation finance.”

As a part of the agreement, NOAH Advisors’ clients, executives, and investors will gain access to OurCrowd’s investment opportunities.

Founded in 2013, OurCrowd’s crowdfunding platform allows its network of 33,000 individual investors to participate in startup investment opportunities alongside VCs and institutional co-investors at the same terms. The company prides itself on its curated deal selection process that requires a team of investment professionals to review thousands of companies, meet with selected management teams, and select opportunities to open to investors. Since opening its doors, the company has vetted over 10,000 companies.

At FinovateSpring 2016, the company debuted the OurCrowd mobile app. Since then, the company marked $1 billion in assets under management; a milestone OurCrowd reached last year. The company was recently featured in Forbes and was ranked by Pitchbook as the most active Israeli VC firm.