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Finovate Alumni News

By David Penn Posted on
Categories: Bizfi, Coinbase, Compass Plus, EquityZen, HotDocs, iSignthis, Ixaris, MX, Q2, Top Image Systems, WorthFM, Xero

On Finovate.com

  • Q2 Leverages MX Technology to Launch Contextual PFM
  • PTIN Gives Members Access to BizFi’s Aggregation Marketplace

Around the web

  • iSignthis to verify ultimate beneficial owners (UBOs) for fellow Finovate alum, Ixaris.
  • ABA Bank leverages TranzWare from Compass Plus to launch new Cash by Code service.
  • Top Image Systems earns spot as sample vendor in Gartner Hype Cycle for Digital Banking Transformation 2016.
  • Coinbase to extend its Bitcoin, ether services to both Canada and Singapore.
  • The Economist reports how EquityZen is catching on.
  • PC Magazine labels Xero the fastest accounting-software innovator.

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

By Julie Muhn (@julieschicktanz) Posted on
Categories: Coinbase, Credit Karma, EyeVerify, Global Debt Registry, itBit, Klarna, Markit, PayActiv, Q2, Q2ebanking, Student Loan Genius, Top Image Systems, WallStreetSurvivor, wipro, Xero

On Finovate.com

  • “San Francisco Times Recognizes Credit Karma as Best Fintech Company”

Around the web

  • Markit partners with BitSight Technologies to enhance its Know Your Third Party (KY3P) platform.
  • Coinbase launches Buy widget to create a better Bitcoin buying experience.
  • Wipro open sources its big data solution, Big Data Ready Enterprise (BDRE).
  • itBit publishes its Bitcoin OTC Market Recap for March.
  • American Banker looks at the relationship between EyeVerify and Wells Fargo.
  • Money Q&A reviews Wall Street Survivor.
  • AltFi investigates how the loan-validation expertise of Global Debt Registry might help the P2p lending market.
  • Q2 subscribes to FI Navigator’s cloud-based mobile banking module.
  • Top Image Systems delivers $100,000 eFLOW project to subsidiary of a national postal service group in Asia-Pacific.
  • Barron’s features Student Loan Genius and PayActiv as employee benefits aimed at millennials.
  • Xero featured as one of first New & Notable Apps on Google Apps Marketplace.
  • SF Business Times features CEO Talbott Roche of Blackhawk.

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

By David Penn Posted on
Categories: Corezoid, Jack Henry, Jumio, Personetics, Q2

On Finovate.com

  • “Welcome to FinovateSpring 2016: Day 2″

Around the web

  • Personetics launches its Personetics Anywhere chatbot, enabling FIs to provide personalized service to customers via popular messaging apps.
  • Q2 Holdings unveils its cloud-based, open API platform for developers, CorePro.
  • Jack Henry & Associates announces availability of Banno Mobile for Windows 10 and launch of Banno People, a user profile management solution.
  • Corezoid’s platform-as-a-service technology now available in the U.S. and Western Europe.
  • Jumio agrees to acquisition by Centana Growth 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.

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2015: A Year in Finovate Alumni Mergers and Acquisitions

2015: A Year in Finovate Alumni Mergers and Acquisitions
By David Penn Posted on
Categories: Akimbo Financial, Aurora Financial Systems, Authentify, Blockstack.io, eMoney Advisor, Finicity, FIS, Funding, Fundings, FutureAdvisor, GoNow, Guide Financial, Kofax, Kontomatik, Kreditech, LearnVest, Mergers & Acquisitions, Q2, ReadyForZero, Red Zebra, Social Money, Stratos, Toopher, Urban FT, Wipit, Yodlee

Handshake_graphic

2015 was another big year for mergers and acquisitions in the fintech industry. And whether they were the acquirer or the acquired, Finovate alums were very much a part of the M&A action.

Because terms of many deals were undisclosed, it is difficult to get a precise number on how much money was spent acquiring some of fintech’s most promising startups this year. But looking just at those acquisitions for which figures were available, we can see that 2015 was a banner year in M&A (more than $7 billion) — and that’s just counting alums.

So from the $5 billion deal between FIS and Sungard to the “alum-acquires-alum” mergers of September 2015, let’s take a closer look at some of the major unions of the year that featured Finovate alums.

December

October

September

August

July

May

April

March

February

January

If you’re a Finovate alum whose merger we’ve missed or acquisition we’ve overlooked, let us know. Send us an email at research@finovate.com.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: ArcBit, Avalara, Betterment, blooom, Credit Sesame, CSI globalVCard, Digital Insight, FIS, FutureAdvisor, Personal Capital, Prairie Cloudware, Q2, Quisk, SigFig, Taulia, Temenos, Trulioo, Trunomi, Trustev, Trustly, TSYS, Xignite

On Finovate.com

  • Check out this week’s “FinDEVr APIntelligence”
  • “Finovate Debuts: ArcBit Introduces its Secure, Easy-to-Use Bitcoin Wallet”
  • “FIS Closes SunGuard Acquisition to the Tune of $5.1 Billion”

Around the web

  • CSI globalVCard launches partnership program for banks for its electronic payments program.
  • SavingAdvice.com highlights how Personal Capital can help you gain control of your finances.
  • Credit Sesame features millennial-friendly robo-adviser investment-platforms: Betterment, FutureAdvisor, SigFig, Blooom.
  • Quisk selected as a 2015 Red Herring 100 Global Winner.
  • TSYS signs payments agreement with Atlanticus to continue support of loan-origination platform, Fortiva.
  • Digital Insight unveils Business Banking, an SaaS solution to enable FIs to offer personalized banking experiences to business customers.
  • Q2 opens new offices in Lincoln, Nebraska, to accommodate growth, acquisition of Centrix Solutions.
  • Xignite Market Data APIs now available on SoundHound’s Houndify sound recognition and search-technology platform.
  • Let’s Talk Payments features Trustev, Trulioo, and Trunomi in its look at “RegTech” startups in Europe and the U.S.
  • Temenos wins “Best Provider of Front-to-Back Wealth Suite Solutions” at Asian Private Banker’s Technology Awards 2015.
  • Avalara partners with open-source billing and payments platform, Kill Bill.
  • Silicon Prairie News interviews Daniel Carnes, CSO at Prairie Cloudware, on the future of cybersecurity.

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.

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Q2 Acquires Social Money in $10 Million Deal

Q2 Acquires Social Money in $10 Million Deal
By David Penn Posted on
Categories: Funding, Fundings, Q2, Q2ebanking, Social Money

Q2_homepage_SocialMoney_Dec2015

Q2 Holdings just got social.

The virtual banking solution provider today announced it will acquire fellow Finvoate alum Social Money for $10.6 million. Q2’s President and CEO Matt Flake said the “strategic” acquisition will help its customers “expand their reach, grow market share, and engage account holders.”

Formerly known as Smarty Pig, Social Money helps financial services companies better engage their customers by offering them savings solutions such as GoalSaver, a customized, goal-directed and bank-audited saving system. Founded in 2007 and headquartered in West Des Moines, Iowa, Social Money is geared toward millennials and gen-Y consumers, a point underscored by Flake. “The digital banking experience matters when it comes to reaching millennials and retaining existing account holders,” he said, adding that Q2 is committed to serving the “increasingly digital modern consumer.”

SocialMoney_stage_FS2012b
Social Money CEO Scott McCormack demonstrated GoalSaver at FinovateSpring 2012.

The Social Money acquisition is the second for Q2 in 2015. In July, Q2 Holdings acquired anti-fraud, risk-management specialist Centrix Solutions for $20 million. Q2 is still studying how it will integrate Social Money’s portfolio into its offerings, saying it plans to provide a “rebranded suite of Social Money technologies” in 2016. For its part, Social Money sees the acquisition as an opportunity to continue helping community banks and credit unions “establish direct-to-digital capabilities in the future,” according to CTO Adam Anderson.

Q2’s solutions are used in more than 275 community banks and credit unions. At their Finovate debut, FinovateSpring 2011, Q2 demoed its risk and fraud analytics technology. Headquartered in Austin, Texas, Q2 Holdings was founded in 2005.

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Finovate Alumni News

By David Penn Posted on
Categories: Financial Guard, Global Debt Registry, ING Direct, Intuit, MasterCard, Misys, Nostrum Group, Q2, Q2ebanking, Social Money

On Finovate.com

  • “Fintech Developers, Lock in Presale Savings for the Very First FinDEVr in NYC”
  • “Q2 Acquires Social Money in $10 Million Deal”
  • Check out the latest developer news in this week’s edition of “FinDEVr APIntelligence”

Around the web

  • Employee Benefit News features Financial Guard in a discussion on the rise of robo-advisers.
  • Misys unveils its next-generation capital markets trading platform in the cloud, Misys FusionCapital.
  • CO-OP Financial Services to help credit unions deploy MasterPass from MasterCard.
  • ING expands its host card emulation (HCE) mobile payment service to all of its customers in the Netherlands. Join ING in London for FinovateEurope 2016.
  • Intuit partners with Fundbox to provide invoice financing for SMEs.
  • Technical.ly Delaware profiles Global Debt Registry.
  • Nostrum Group urges personalization in digital lending in new report on digital finance. See Nostrum at FinovateEurope 2016 in February.

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

By David Penn Posted on
Categories: Ayasdi, Corezoid.com, Dragon Wealth, EverSafe, Flint Mobile, FutureAdvisor, Global Debt Registry, MaxMyInterest, PayNearMe, Q2, Qapital, Socure, Tradier, Xignite

On Finovate.com

  • “Socure Secures $2.5 Million in Debt Financing”
  • “Five Finovate Alums Named 2015 Technology Pioneers by World Economic Forum”

Around the web

  • Let’s Talk Payments interviews Stephane Dubois, Xignite CEO and founder. See Xignite at FinDEVr 2015 in San Francisco in October.
  • Flint Mobile upgrades its iOS mobile app to improve compatibility with Apple Wallet.
  • Cloud OS Corezoid is now available via the Amazon Marketplace (in Russian).
  • Forbes notes MaxMyInterest, Dragon Wealth, and EverSafe in a feature on the global growth of fintech accelerators.
  • Market Visual integrates with the Tradier API to enable investors to manage stock portfolios and trade on a single platform.
  • Q2 Holdings acquires Centrix Solutions for $20 million.
  • Ayasdi named a 2015 Technology Pioneer by World Economic Forum.
  • Delaware Business Times profiles Global Debt Registry.
  • RateFuel asks if Qapital represents the “future of banking.”
  • PayNearMe partners with The California Department of Child Support Services to offer a new payment option for cash-paying customers.
  • FutureAdvisor launches FutureGift to help friends and family easily contribute to kids’ college funds.

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

By David Penn Posted on
Categories: eMoney Advisor, eWise, Finaeos, FinanceIt, HedgeCoVest, Kensho, Klarna, LoanNow, Meniga, NAMU Systems, OneID, Patch of Land, Pendo Systems, Q2, Quantopian, Spreedly, Temenos, Trustly

On Finovate.com

  • “Finovate Debuts: LoanNow Helps Borrowers ‘Outperform their FICO Score'”

Around the web

  • HedgeCoVest launches its real-time, hedge fund replication platform.
  • First Republic Bank to deploy virtual banking solutions from Q2 Holdings.
  • The Independent takes a look at Klarna and the power of micropayment.
  • oneID featured in MacWorld as a two-factor authentication app for the Apple Watch.
  • Allied Wallet now a supported online payment provider of Spreedly.
  • emX Select from eMoney Advisor now integrated with Dropbox.
  • Süddeutsche Zeitung features Trustly and Klarna (in German).
  • Bank Innovation profile on alternative fintech capitals looks at Iceland and highlights Meniga.
  • Ripple Labs adds former Depository Trust & Clearing Corporation (DTCC) CEO Donald Donahue as advisor.
  • A review of local fintech startups in the Boston Globe features Kensho and Quantopian.
  • Temenos wins “Best Core Banking System” honors from Banker Africa East Africa Awards 2015.
  • American Banker considers how Namu covers the emotional side of banking.
  • Entrepreneur lists Patch of Land as 1 of 100 brilliant companies to watch in 2015.
  • Pendo Systems wins awards from international financial technology publications, the New Jersey Technology Council, and SWIFT.
  • Asian Wealth Times: “Singapore’s MoneySmart to Launch PFM tools with Ewise”
  • Finaeos teams up with TATA Consulting Services to help SMBs take advantage of Regulation A+ of the JOBS Act.

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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$680 Million Raised by 29 Alums in Q1 2015

$680 Million Raised by 29 Alums in Q1 2015
By David Penn Posted on
Categories: Advanced Merchant Payments, AdviceGames, Aire, App Annie, Ayasdi, Betterment, Bill.com, BlueVine, Bolstr, Coinbase, CoverHound, Finsphere, Funding, Fundings, Global Debt Registry, Kofax, LendingRobot, Lendio, Linkable Networks, Micronotes, Motif Investing, peerTransfer, Pindrop Security, Q2, Ripple, SimplyTapp, Spreedly, Taulia, TransferWise, TrueLink Financial, Xero

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.

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Finovate Alumni News

By David Penn Posted on
Categories: Acculynk, authenticID, BioCatch, Blackhawk Network, Kofax, Lending Club, Lendio, MiiCard, Motif Investing, On Deck Capital, PaySimple, Prosper, Q2, SecondMarket, Tradier, Uncategorized

On Finovate.com

  • AuthenticID Teams Up with MyECheck to Provide Document Authentication

Around the Web

  • OEM agreement between Kofax and BlackHawk Network enables mobile capture on GoWallet digital wallet.
  • Early Warning and BioCatch to collaborate in new data-sharing consortium.
  • Q2 teams up with Acculynk to provide real-time P2P payment service.
  • The Netbanker Blog is Moving to Finovate.com.
  • Lending Club and Citi partner with Varadero Capital to facilitate up to $150 million in loans to provide affordable credit to underserved borrowers and communities.
  • Options trading tool, Orca, partners with Tradier for its Brokerage API.
  • Prosper and OnDeck partner to offer customers more lending options.
  • GDS Link integrates MiiCard’s DirectID into its Credit Risk Management platform to reduce risk and increase conversion rates.
  • Lendio acquires Business Bounce to accelerate business lending on its marketplace platform.
  • PaySimple awarded Marketing Team of the Year by Marketo.
  • TechCrunch reports: SecondMarket launching product to put more control over secondary sales in the hands of startups.

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– March 12, 2015

By David Penn Posted on
Categories: AlphaPoint, Coinbase, Kabbage, MasterCard, Q2, Temenos, Zooz

Finovate-F-Logo-thumb-100x100-4490-thumb-100x100-8209-thumb-200x200-8210-thumb-200x200-8972-thumb-200x200-8975-thumb-125x125-9061-thumb-125x125-13257-thumb-150x150-13291-thumb-150x150-13321-thumb-125x125-13415

  • Finovate Debuts: AlphaPoint Powers Digital Currency Exchanges Around the World
  • Temenos partners with Microsoft to launch T24 country model bank for Mexico.
  • Coinbase adds support for FIX protocol for trade-order management.
  • Q2 Holdings Completes $116 Million Follow-On Stock Offering
  • CardNotPresent.com reports: Zooz to Expand Globally, Opens London Office
  • MasterCard and Kabbage partner to make Kabbage’s data and platform available through its network of acquirers.

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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