Finovate Alumni News

On Finovate.com

  • “BizEquity, Malauzai Take Top Honors at Bank Director’s FinXTech Awards”
  • Check out this week’s FinDEVr APIntelligence.
  • “Finagraph Picks Up Investment from Moody’s”
  • “Cloud Lending Solutions Launches Asset Leasing Product”

Around the web

  • Vietnam’s Techcombank to support treasury, capital markets operations with FusionCapital from Misys.
  • Top Image Systems partners with TerraQuest to bring content processing to British government agency.
  • American Banker uses data from Pindrop Security to examine call center fraud.
  • Sparkroom wins Gold LeadsCouncil LEADER Award for Most Valuable Tech, and the Silver Award for Best Marketing Agency in Education.
  • Luxoft integrates P2P payment technology to enable IoT Solutions in Rinspeed’s Autonomous Driving Car.
  • Air Europa adds SafetyPay as a payment method.

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

  • Dream Payments Unveils Mobile Merchant Platform for Banks and Acquirers.
  • Blackhawk Network Names Talbott Roche New CEO.
  • Coinbase and Motif Investing Earn Spots on Fast Company’s Most Innovative Companies of 2016 List.

Around the web

  • Fiserv named to Fortune magazine’s list of the World’s Most Admired Companies in 2016.
  • Pindrop launches its comprehensive call center fraud-prevention platform, IVR Anti-Fraud.
  • Sussex County FCU picks Insuritas to deploy new insurance agency solution.
  • iSignthispaydentity KYC service is suitable for use by businesses in the regulated sector of the Isle of Man, a global financial hub.
  • Inc. profiles Sweden’s Klarna and its plans for U.S. expansion.
  • Co-founded by former Check CMO Daniel Kjellen, MovoCash announces $700,000 seed investment.
  • Ingo Money partners with PayPal, adds instant check-splitting.
  • Roostify to integrate with zipLogix to facilitate communication between lenders and realtors.
  • American Banker features SecondMarket.
  • Bluefin Payment Systems and Worldnet partner for PCI-validated P2PE on Worldnet’s payment platform.
  • Cachet appoints new Chief Financial Officer Bryan Meier.

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.

Pindrop Raises $75 Million for Phone-printing Authentication

PindropHomepage

Voice-fraud prevention and authentication startup Pindrop closed a $75 million funding round. This installment brings the company’s total funding to $122 million since its founding in 2011.

Google Capital, a new investor to the Georgia-based company, led the Series C round. Additional contributors include GV, another new backer, and existing financiers Andreessen Horowitz, IVP, Citi Ventures and Felicis Ventures.

Pindrop works with three of the top-four largest U.S. banks to authenticate their calls using phone-printing technology that analyzes and assigns risk to the caller. The technology helps a bank’s call center answer key questions:

  • Where does the call originate?
  • Is it a trusted number?
  • Does the caller’s voice sound as it should?
  • What device is the caller using?
  • Should the person’s attempt be blocked?

Pindrop will use the new funds to fuel international expansion. The company already has a small office in the United Kingdom, an area in which, according to Fortune, phone-fraud rates are fourfold higher than those in the United States. Pindrop is also in the midst of expanding to Latin America and plans to extend operations into Asia Pacific later this year.

PindropCEOIn a release today, the company notes highlights from 2105:

  • Saved tens of millions of dollars for enterprise customers
  • Tripled revenue in the last year
  • Doubled its customer base in the last year, including adding two of the top-three U.S. banks
  • Protected 360+ million calls

Pindrop CEO Vijay Balasubramaniyan (pictured) debuted the company’s Fraud Detection System at FinovateFall 2012.

Finovate Alumni News

On Finovate.com

  • Mitek Partners with Harland Clarke to Improve RDC Security”
  • Pindrop Raises $75 Million for Phone-printing Authentication”

Around the web

  • Gate City Bank ($1.9 billion in assets) chooses DNA core account processing platform from Fiserv.
  • Powered by FIS, the Venture Center is now accepting applications for its VC Fintech accelerator.
  • Venmo adds in-app merchant payments.
  • Algomi wins Risk Magazine’s “Trading Technology Product of the Year for the Buy-Side” for a second year in a row.
  • Experian enhances Small Business Credit Share program.
  • Credit Karma surpasses milestone: serves 50 million users who use Credit Karma to manage $3 trillion in debt.
  • Check Point releases new hardware to address cyber security and protection.

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.

Finovate Alumni News

On Finovate.com

  • “Mark Shifke Named Green Dot CFO After Interim Term”
  • “PaySwag Helps Cloud Lending Solutions Go Mobile”
  • “Finovate Debuts: DAVO Automates Sales Tax”

Around the web

  • Utah Community Credit Union chooses DNA(R) account platform from Fiserv.
  • TechEU interviews Sebastian Siemiatkowski, Klarna CEO.
  • Tactile Finance CEO Nicole Hamilton earns spot in The Inman Group’s Top 101 innovators.
  • VentureBeat names Twilio as 1 of 36 tech companies that could go public in 2016.
  • Bankless Times: Pindrop can tell you who is really on the phone.

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.

Finovate Alumni News

On Finovate.com

  • “Finovate Debuts: Slice Introduces Intelligent Shopping API”
  • “Arxan Technologies Drafts Joe Sander as CEO”

Around the web

  • Kasasa reaches milestone: 300+ community FIs now offer Kasasa to members, a total of 823,000 accounts.
  • NY Times lists Betterment, Coinbase, Wealthfront, ZenPayroll as companies that may be the next startup unicorns.
  • Crowdfund Insider: Zopa tops £1 million in loans, a U.K. first for peer-to-peer lending.
  • Global News interviews Karl Martin, Nymi CEO and founder.
  • Trustly bolsters team with appointments from H&M and Klarna.
  • FIS launches financial inclusion lab in India.
  • SME Insider interviews CurrencyTransfer.com‘s CEO Daniel Abrahams.
  • Silanis to deploy eSignLive technology with TransGuard and Occidental Fire & Casualty.
  • Puerto Rico-based Evertec to enable mobile e-commerce courtesy of Acculynk’s PaySecure.
  • Payoneer wins contract with Dailymotion.
  • NPR interviews Pindrop Security‘s CEO Vijay Balasubramaniyan.
  • Selling Power ranks OnDeck 17 out of 50 on its list of 2015 Best Companies to Sell For.
  • Nostrum Group receives FCA authorization for debt administration to cover its involvement in customer loan accounts and debt collection.

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

  • Pymnts interviews Rich Aberman, WePay co-founder.
  • TradeSharp integrates with Tradier to offer brokerage services and enhanced trading strategies.
  • Gwyneth J. Gaul joins Bright Funds as the company’s new vice president of corporate partnerships.
  • Dividend.com features several alums in its discussion on how robo-advisors are changing the investment world.
  • Washington Technology Industry Association creates video about Lighter Capital.
  • InComm to expand offerings in Asda, the United Kingdom-based subsidiary of Walmart.
  • PayPal acquires mobile commerce platform Modest, its first acquisition as a standalone, public company.
  • Socure appoints Michael Hiskey as vice president of marketing. Join Socure at FinovateFall 2015 in New York.
  • Investment News quotes Hedgeable CEO Mike Kane on bitcoin’s prospects as an alternative asset class. See Hedgeable in New York at FinovateFall 2015.
  • Avidia Bank ($1.2 billion) to deploy Cardless Cash ATMs courtesy of partnership with FIS.
  • Eco-Mail names John Schloff as managing director of marketing. Catch Eco-Mail live at FinovateFall 2015 in September.
  • CardFlight’s SwipeSimple to power Integrity Mobile’s mPOS tech.
  • Pindrop Security appoints Mike Vandiver as chief financial officer.
  • Check out this week’s FinDEVr APIntelligence.
  • Australia-based SocietyOne hits $200m in applications.

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

  • “Expensify Tallies Up $17.5 Million in Funding to Support its New Fintech Investment Fund”

Around the web

  • AcceptEmail partners with PayWithMyBank to make bill pay convenient and less costly.
  • SocietyOne hires former Lending Club executive as its new chief marketing officer.
  • Spend Matters highlights Tradeshift as a company to watch in 2015.
  • Pindrop Security releases new version of fraud detection system to more effectively identify and predict fraudulent activity.
  • Yodlee hosts webinar on how to build financial apps to meet rapidly evolving customer expectations.
  • BehavioSec mentioned as one “wild invention of the future” that the Pentagon is behind.
  • Tradier announces 75+ investor platforms and advisors integrating with its API.
  • Algomi adds 100th buy-side firm to its Honeycomb Network.
  • American Banker: FIS in talks to acquire SunGard.
  • PYMNTS.com interviews Sarah Hartman, senior director of consumer payment solutions at TSYS.
  • India West profiles Ayasdi founder and CEO, Gurjeet Singh.
  • Benzinga’s list of 10 PFM apps for teens and young adults features Toshl Finance, Manilla, BillGuard, Mint, and Smarty Pig.
  • Acculynk teams up with TouchPay, combining online billpay with self-service payment kiosks.
  • OnDeck rolls out mobile app for account management on the go. Come see OnDeck at FinDEVr in San Francisco, 6/7 October 2015.
  • Let’s Talk Payments interviews PayStand CEO Jeremy Almond.

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

  • SizeUp, Token, and Pendo Systems Win at Innotribe 2015 New York
  • Vantiv Brings its Payment and Processing Solutions to the USPS
  • Finovate Talks Payment API Security with John Canfield, VP of Risk for WePay

Around the web

  • American Banker talks with LendingRobot about liquidity in P2P lending.
  • Wallaby now has 2,700 credit cards and 500 banks in Cardbase database. Come see Wallaby at FinDEVr in San Francisco.
  • SuiteRetail joins Avalara’s community of certified solution partners. Check out Avalara at FinDEVr 2015, 6/7 October.
  • Tradier Brokerage integrates with OneOption LLC to advance options trading platform.
  • GeekWire considers Avalara’s success, including its corporate lounge, at the U.S. Open.
  • PYMNTS interviews Souheil Badran, newly appointed president and CEO of edo Interactive.
  • Nuno Sebastião, CEO of Feedzai, talks with PYMNTS about fraud detection.
  • Pindrop Security launches Pindrop Labs.
  • Financial Times lists Personal Capital in its Top 300 RIA List.
  • iBe publishes study on customer experience in banking and fostering innovation.

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

  • “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.

$680 Million Raised by 29 Alums in Q1 2015

cartoonmoneystackThe biggest surprise in our look at first-quarter funding is that the $677 million amassed by 29 Finovate alums was more than 20% of the $3.2 billion invested in the entire worldwide fintech sector.

The $677 million raised was $85 million (+14%) above the same quarter a year ago, and more than triple the first quarter of 2013.

Q1 2015 was also $133 million above the $544 million mark set in the fourth quarter of 2014.

It will be worth watching to see if this record-setting first quarter for Finovate alum fundraising will be a sign of more great things to come for capital-raising in 2015.

Top 10 Overall Investments

  1. Xero: $111 million in February
  2. Coinbase: $75 million in January
  3. Betterment: $60 million in February
  4. TransferWise: $58 million in January
  5. App Annie: $55 million in January
  6. Ayasdi: $55 million in March
  7. Motif Investing: $40 million in January
  8. Ripple Labs: $30 million in January
  9. Bill.com: $50 million in February
  10. Pindrop Security: $35 in February

Previous Quarterly Comparisons

  • Q1 2015: More than $676 million raised by 29 alums
  • Q4 2014: More than $544 million raised by 25 alums
  • Q1 2014: More than $600 million raised by 8 alums
  • Q1 2013: More than $155 million raised by 14 alums

January: More than $275 million raised by 14 alums

February: More than $264 million raised by 8 alums

March: More than $136 million raised by 7 alums

If you are an alum that raised money in the first quarter of 2015, and do not see your company listed, please drop us a note at research@finovate.com. We would love to share the good news! Funding received prior to becoming an alum not included.

Alumni News– February 19, 2015

  • Finovate-F-Logo.jpgAmerican Banker: Retail Banking Vet Deanna Oppenheimer Joins Tech Vendor Finsphere.
  • American Banker: Federal Payments Website Partners with PayPal, Dwolla.
  • Kantox Surpasses $1 Billion in Foreign Exchange Transfers.
  • Pindrop Security Raises $30 Million.
  • eToro launches its Popular Investment Programme to recognize and reward the network’s top traders.
  • Phroogal reviews Motif Investing.
  • MaxMyInterest brings consolidated tax reporting functionality to its cash optimization platform.
  • Encap Security CEO Thomas Boström Jörgensen and Ping Identity Managing Director EMEA Jason Goode weigh-in on Touch ID banking.
  • Digital Retail Apps featured in Toronto Star’s coverage of Canada’s first financial technology cluster.
  • Azimo launches its money transfer service in China.
  • Finsphere Lands $1.8 Million, Partners with Visa.
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.