Finovate Alumni News

On Finovate.com

  • ABBYY Unveils New SDK for Mobile Web Capture.

Around the web

  • Identitii’s tokenization technology powers HSBC’s Digital Accounts Receivable Tool (HSBC DART).
  • Fiserv’s FlexWage now allows earners to receive their salary on their own schedule.
  •  LendingClub extends balance transfer to more borrowers.
  • Berkshire Bank partners with Finastra to launch real-time payments.
  • Belgian online lender Buy Way deploys e-signature solution from OneSpan.

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.

Paysend Reaches Crowdfunding Goal of $5.3M

London-based fintech Paysend announced late last week that it had reached its fundraising goal of $5.3 million (£4.2 million) after a three-day campaign on Seedrs. The company noted that more than 200 investors have participated in funding round, which was led by VC’s Plug & Play, Digital Space Ventures, and Marcorp Fintech. The funding puts Paysend’s total capital at more than $25 million and gives the company a valuation of more than $158 million (£1.25 million).

“We believe that (transferring money) should be as easy and immediate as sending an email, and finally the digital age is being able to facilitate this,” Paysend CEO Ronald Millar explained. He blamed the banking and payments industry for “conditioning” customers into believing that the difficulty of transferring money justified the complex process that most bank customers endure. “I have always been a firm believer that earning money can be tough but spending shouldn’t be,” Millar said.

The company said the funds will be used to fuel Paysend’s international expansion goals, including new partnerships with FIs. Paysend is currently active in 70 countries around the world, and Millar noted that the company is adding new customers at a pace of 2,000 a day. In fact, Paysend’s funding announcement comes as the company reports adding another six countries to its money transfer network. India, South Africa, Sri Lanka, Nepal, Pakistan, and Turkey are all slated to be brought onboard this year.

“We are on a major expansion path,” Millar told The Courier UK. “We’ve just launched the global account and we want to continue to grow the business and establish the operational team and launch more marketing.”

Founded in 2016 and headquartered in London, U.K., Paysend demonstrated its Global Account at FinovateSpring 2018. The solution enables users to store both fiat and crypto currencies in their wallet, exchange funds between currencies, send funds to other Global Accounts, and make payments from their account both online and in-person. The account comes with a prepaid card (both physical and virtual) that can be linked to the currencies in the user’s wallet, enabling them to make everyday transactions in the currency of their choice as easily as spending with a debit card. Users can also use their Global Account card to withdraw cash in 125 currencies.

Paysend has more than 750,000 users of its technology, and facilitates more than two million transactions a month. In May, the company announced the launch of its new payments app, Paysend Link, which enables users to send money to anyone, anywhere using only the recipient’s mobile phone number. Also in May, Paysend reported that its new stablecoin would be available on the Stellar Network this summer.

Finovate Alumni News

On Finovate.com

  • Synapse Receives $33m for Backend Fintech.
  • Paysend Reaches Crowdfunding Goal of $5.3 Million.

Around the web

  • Worldline and Trapeze deliver a hands-free payment solution for public transport.
  • Sberbank to Open First Branch in McDonald’s Restaurant.
  • James Hale appointed Head of Product at alternative investing firm Artivest.
  • Finastra named 2019 Microsoft Alliance Global ISV Partner of the Year.

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

Around the web

  • Startup Here Toronto features Sensibill.
  • Paysend announces expanding network and latest funding round.
  • Tinkoff announces the launch of Tinkoff Capital management company.
  • Entrust Datacard completes acquisition of nCipher Security.

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

  • Dashlane Raises $110 Million for Password Security.
  • Strands Strikes Digital Banking Deal with Tech Mahindra.

Around the web

  • Paysend to launch crowdfunding campaign on Seedrs.com.
  • Ghana’s ARB Apex Bank reups with Temenos.
  • Exate Technologies joins OpenFin’s fintech ecosystem.
  • Forbes: PayPal’s Latest Milestone: $10 Billion In Small Business Loans.
  • Atlanta Small Business Network looks at how Fiserv delivers fraud prevention across the globe.

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

  • Onfido Delivers ID Verification to Mobility-as-a-Service Firm Drover.
  • Segmint powers data analytics for Buzz Points.

Around the web

  • Paysend announces its new stablecoin will be available on the Stellar Network in June.
  • LoanScorecard forges partnership with Calyx Software, merging its SimpleCECL solution with Calyx’s Path LOS.
  • Digital Onboarding will join Best of Show winners Voleo and Neener Analytics as part of the fourth annual FIS Fintech Accelerator program.
  • Chartis Research recognizes FICO as a category leader in AI for Financial Services.
  • Judo Bank of Australia goes live with Temenos’ T24.
  • Xero launches new feature in the Xero Projects iOS app that suggests project time based on geolocation

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.

Paysend Introduces New Payments App

The new mobile app from Paysend, Paysend Link, enables users to send money to anyone, anywhere, with just the recipient’s mobile phone number.

“We are constantly looking for ways to simplify and improve (the) customer experience and make it even easier for the sender to initiate a transaction,” Paysend CEO Ronald Millar said. “Now all they have to do is provide a recipient’s phone number and click send.”

Available in the iOS and Google Play app stores, PaySend Link enables fund recipients to see the incoming transfer and direct it to their Visa, Mastercard, or UnionPay card. The recipient can then immediately use the funds for transactions or withdraw the funds as cash at any ATM. PaySend added that it will make fund transfers directly to bank accounts available “soon.”

Millar pointed out that one of the advantages of PaySend Link is that it doesn’t require the exchange of personal information. “This sets a new standard when it comes to security and safety of customer data and financial information shared across borders,” Millar said. “What’s more – it’s a recipient who decides where they want to direct the incoming transfer to – their bank account, debit, or credit card.”

Founded in 2016 and headquartered in London, Paysend demonstrated its Global Account at FinovateSpring 2018. The account enables users to store fiat and crypto currencies, move funds between different currencies, transfer funds to other Global accounts or crypto wallets, and make purchases online or in-person. The account also comes with a prepaid card (both physical and virtual) to facilitate in person transactions and make cash withdrawals.

Earlier this year, the company announced that it would support money transfers to bank accounts in 34 European countries. Paysend began 2019 with news that it had forged a payments partnership with Vietcombank. The company has raised $20 million in funding, and includes MARCorp Financial and Digital Space Ventures among its investors.

Finovate Alumni News

On Finovate.com

  • WealthForge Unveils Alt Investing Platform Altigo.

Around the web

  • Three Canadian Credit Unions select Fiserv’s core platform.
  • Ripple to power instant global payments for Ria Money.
  • Persistent Systems joins Siemens’ MindSphere Partner Program to bring Industrial IoT solutions to market.

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

  • Thoma Bravo to Acquire Ellie Mae in $3.7 Billion Deal.
  • Welcome to Day Four of FinovateEurope.

Around the web

  • ACH Alert unveils its latest Payment Data Xchange (PDX) service module within its flagship Fraud Prevention HQ platform.
  • Fidor Bank launches chatbot powered by Best of Show winner, Finn AI.
  • Paysend to offer money transfers to bank accounts in 34 European countries.
  • Zopa introduces new chairman Gordon McCallum, who will take over from co-founder Giles Andrew.
  • Kentucky-based Forcht Bank partners with Fiserv to upgrade its credit card program.
  • Finastra appoints Siobhan Byron as SVP and Head of Technology Enabled Managed Services (TEMS).
  • Aire inks reseller agreement with Experian.

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

  • What’s in a Name? New Mastercard Logo Embraces Icon Age.
  • LendingFront Locks in $4 Million in Series A.

Around the web

  • Ledger introduces its Bluetooth-enabled hardware wallet, Ledger Nano X.
  • Matthijs Aler appointed as the new CEO of Ohpen.
  • PaySend launches new money transfer service, PaySendLink.
  • QNB Group to deploy digital cash management solution from iGTB.
  • Klarna teams up with Stripe and Poq to enhance Missguided’s U.K. app.
  • Oliver Weber takes the helm as the new VP of Digital Banking, Switzerland, for Crealogix.
  • Infosys Finacle announces partnership with Qatar National Bank.
  • Benedigo and Adelaide Bank deploys regtech reporting solution from Wolters Kluwer.

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.