Finovate Alumni News


  • Fintech Trending: Look Who’s Chasing Venmo, Student Loan Servicing Falls Short
  • DriveWealth Adds Real-Time Margin

Around the web

  • The Times of India examines the role Ripple can play in reducing the costs of overseas remittances.
  • iSignthis integrates its digital KYC technology with Ixaris.
  • Axis Bank’s Tagit-powered app adds augmented reality.
  • Cortera announces 100th release of its Cortera Pulse product.
  • Quisk rolls out mobile-money platform at National Commercial Bank Jamaica Limited.
  • Philadelphia Business Journal names eMoney Advisor one of the “Best Places to Work” in Philadelphia.

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


  • Dashlane and Google Partner to Improve Online Security via Open YOLO
  • Prosper Closes in on $5 Billion Commitment for New Loans

Around the web

  • FIS and Arkansas Governor Asa Hutchinson extend VC FinTech Accelerator program to 2018.
  • Revolut app tops 250,000 users.
  • Narrative Science launches Solution Provider program.
  • Oprah Winfrey Network names WorthFM founder and CEO Amanda Steinberg to the inaugural Opray Winfrey Network SuperSoul 100.
  • Banking technology interviews Rivi Varghese, CEO of CustomerXPs Software.
  • American Banker: Profits, Revenue Forecast Rise at Green Dot
  • Zopa gives a rundown of its four-year history.

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.

7 Alum Leaders Named U.K.’s Coolest People in Fintech

BritishFlagBusiness Insider rounded up the 40 most exciting people in fintech in the United Kingdom. As it turns out, Brexit isn’t enough to shake the fintech scene in the U.K. In fact, according to KPMG, British fintech startups raised $962 million in 2015. Of that amount, London companies raised $743 million.

The list includes these seven leaders from Finovate and FinDEVr alumni:

Taavet Hinrikus, CEO and cofounder of TransferWise

Marta Krupinska, General Manager and cofounder of Azimo

Nikolay Storonsky, CEO and cofounder of Revolut

Giles Andrews, Executive Chairman and cofounder of Zopa

Peter Smith, CEO and cofounder of Blockchain

Usman Khan, CTO and cofounder of Algomi

Nick Hungerford, CEO and founder of Nutmeg

Check out all 40 leaders who made the list. Wonder how Business Insider made its selections? Here’s how the publication described its process:

We looked at who’s done cool and interesting things in the past year, including companies that have raised money or grown rapidly. We’ve also tried to include some of the less obvious names—the people doing great things behind the scenes—as well the faces out front.

Revolut Lands $8.7 Million, Launches Crowdfunding Campaign

Screen Shot 2016-07-11 at 7.17.45 AM

While some European fintech companies are worried Brexit will stifle the tech industry, London-based Revolut’s latest news indicates there’s still room for growth. The company, which offers a multicurrency-payments platform, closed on $8.7 million (£6.8 million) from big-name investors and has a goal to pull in more through a public crowdfunding campaign.

Investors include Ribbit Capital along with existing contributors Balderton Capital, Index Ventures, Point Nine Capital, Venrex and Seedcamp. Today’s Series A round brings the company’s total funding to $13.2 million since it was founded in 2013. According to Business Insider, the company is now valued at $54 million (£42 million).

Revolut is offering the public an opportunity to invest by launching a crowdfunding campaign to raise another $1.3 million (£1 million) hosted on Crowdcube, where investors can participate with as little as £10. Starting today, Revolut is inviting the most active of its 200,000 users to preregister. Others will be able to register when the campaign opens in a week. According to the company’s pitch site on Crowdcube:

Revolut will be inviting people to invest based on the number of contacts in their Revolut contact book. People with the most contacts will be granted priority access by Revolut from Wednesday 20th, 24 hours before the pitch is available to the public.

At press time the company has already far exceeded its $1.3 million goal; 4,832 people have committed to invest more than $11.7 million (£8.5 million).

The Revolut app, combined with a prepaid MasterCard, lets users load money from the bank account in their domestic currency and spend it in 90 different currencies across the globe, including bitcoin, at the interbank rate. The company is seeing more than 1,500 new customers register each day. Since the platform went live about a year ago, users have transferred more than $500 million on its cards. Here’s a look at the growth:Screen Shot 2016-07-11 at 8.21.26 AM

Revolut debuted at FinovateEurope 2015 in London. Revolut’s CEO and founder Nikolay Storonsky began working on the idea after his bank charged him $2,000 in fees after spending $12,000 while traveling abroad. “That is why we built Revolut,” Storonsky said during the demo. “It allows you to exchange, send, and spend your money, completely avoiding all your banking fees without actually using a bank.”

16389701948_d2c7ec0dce_kCEO Nikolay Storonsky, founder, and CTO Vlad Yatsenko debuted Revolut at FinovateEurope 2015 in London.

In May of this year, Revolut received an e-money license from the U.K.’s Financial Conduct Authority to bolster currency exchange functionality in the app. Post-Brexit, the company anticipates it will receive passporting rights from the E.U. to use the license in other countries. If the license falls through, CEO Storonsky tells Business Insider, “We’ll just set up … an office in Berlin and get licensed there.”

Finovate Alumni News


  • Revolut Lands $8.7 Million, Launches Crowdfunding Campaign
  • Spiff Raises $150,000; Adopts Tech Talent from Fink

Around the web

  • Asset TV interviews CEO Tony Aguilar, founder, Student Loan Genius.
  • Business Quarter profiles Ormsby Street MD, Martin Campbell.
  • TechCityNews features Aire in an issue devoted to artificial intelligence.
  • TickSmith upgrades its TickVault Platform with file inventory module.
  • Bank Info Security interviews Fiserv anti-fraud specialist, Andrew Davies.
  • CNBC column on financial fraud and retirees quotes Liz Loewy, general counsel for EverSafe.
  • launches Bookkeeping Accelerator Program.
  • CNBC features Moven founder and CEO Brett King speaking about his newest book, “Augmented: Life in the Smart Lane.”
  • Kasasa Named One of the Best Places to Work in Austin for a Second Consecutive 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.

Revolut Receives FCA License, Announces $1 Billion Annual Run Rate


London-based startup Revolut today announced it now has an e-money license from the FCA after submitting its application in January. The company will use the certification to bolster its application that allows users to exchange currencies at interbank rates and spend in different countries using a multicurrency card and mobile app.

Revolut also announced some meaty figures of recent growth in a Business Insider piece. In the past 10 months, the company surpassed $500 million processed on the Revolut card (this includes money spent over the Revolut card, the mobile app, and withdrawn from ATMs). That’s up $300 million from February, when the company announced it had processed $200 million.

Additionally, Revolut CEO Nikolay Storonsky states the company is seeing volume increases of 30% per month. The company boasts 180,000 cardholders and signs up 1,500 new customers per day.

In February, Revolut closed on $4.8 million. The company, which hopes to close a $14.5 million round, now has $7.6 million in total funding. In January, Revolut unveiled version 2.0 of its Personal Money Cloud, which it launched at FinovateEurope 2015 in London.

Finovate Alumni News


  • “CardFlight Adds Global Payments as EMV Processor”
  • “Revolut Receives FCA License, Announces $1 Billion Annual Run Rate”

Around the web

  • Drawbridge to use Cardlytics’ purchase intelligence to measure the purchase impact of campaigns.
  • Bank of Montreal Asia Pacific selects Temenos as core banking provider.
  • Larky adds Sunshine Coast Credit Union, its first foray into Canada.

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 Alums Dominate The FinTech50’s Inaugural Hall of Fame


FinTechCity unveiled its new FinTech50 Hall of Fame this week at the Money 20/20 event in Copenhagen, Denmark. Finovate alums took six out of the ten spots.

The “founding ten members” of TheFinTech50 Hall of Fame are companies that “have featured on our radar since the days when they could reasonably be called startups,” say FinTech50 founders Julie Lake and Nicky Cotter, writing in The FinTech50 2016 Yearbook. “In recognition of their pioneering spirit and competitive staying power, we felt they deserved their own special place within a list of remarkable game-changers,” the founders wrote.

FinTechCity also presented The FinTech50 2016, its roster of the fifty hottest FinTech businesses in Europe. Of the 50 companies selected by the panel of more than 30 industry experts who poured over more than 1,200 candidates, a full baker’s dozen were Finovate—or FinDEVr—alums.

Read the full list.

Lake and Cotter called this year’s competition “the most hotly contested FinTech50 in its four-year history.” The founders also highlighted differences from the 2015 list, with this year’s roster featuring more companies innovating in “security, compliance, and risk.”

Also noteworthy was the number of European fintech companies from the United Kingdom (more than 30 out of the 50). The founders credited this to the U.K.’s broader access to funding, as well as the region’s local talent, and “favorable regulatory environment.” Lake and Cotter also praised other emerging European fintech communities in Amsterdam, Berlin, and Stockholm.

In addition to The FinTech50 2016 and its new Hall of Fame, FinTechCity also announced its FinTech20 India and FinTech20 Hong Kong. Finovate alums were represented here with Demystdata (FinovateAsia 2012) earning a spot in the Hong Kong 20, and Bank Bazaar (FinovateAsia 2012) getting recognition in the India 20. Lastly, The FinTech50 shared “The Hot Ten,” a roster of companies on their watch list for 2016. Here, Finovate alum, Ormsby Street (FinovateFall 2015), was recognized on that list.

Finovate Alumni News


  • “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.


Revolut Pulls in $4.8 Million

Screen Shot 2016-02-05 at 6.06.43 PM

London-based Revolut launched in 2014 under the premise that people should not be charged for spending and transferring their own money in a different currency. This week, the startup closed a $4.8 million round of funding.

The round was led by Balderton Capital. Additional contributors include: Index Ventures, Point Nine Capital, Seedcamp, and Venrex Investment Management.

Combined with the startup’s previous investments, this round brings its total funding to $7.6 million.

In January, Revolut launched version 2.0 of its personal money cloud. Its redesigned app is focused on offering transparency while maintaining an intuitive user experience.

The company’s CEO and Founder Nikolay Storonsky, and CTO Vlad Yatsenko debuted Revolut at FinovateEurope 2015 in London.

Finovate’s European Alums Raised More Than $350 Million in 2015


Nineteen Finovate alums headquartered in Europe raised $350 million in 2015.

From the $16,000 in seed money raised by U.K. startup, StockViews, to the €82 million investment received by Germany’s Kreditech, we’ve counted every euro, pound, and dollar that investors poured into our European alums. And whether the funding represented an initial infusion of capital or was part of a multi-stage Series E round, it is clear that investors are very interested in the fintech innovations of Europe.

Take a look for yourself at the “European Portfolio” from 2015 below, featuring Finovate alums from the United Kingdom, Ireland, Germany, Switzerland, and the Netherlands.





Netherlands_FlagThe Netherlands








UK_FlagUnited Kingdom

There’s still time to join us in London for FinovateEurope! Our two-day conference returns to Old Billingsgate Market Hall, February 9 and 10. Get your tickets today and save your spot.



London’s Revolut Unveils Version 2.0 of its Personal Money Cloud


Revolut, the U.K.-based startup that demoed its Personal Money Cloud at FinovateEurope 2015, has released version 2.0 of its mobile money app.

In addition to a redesign and new user interface, most of the the enhancements are geared toward improving transparency and efficiency. The new app now provides previews of exchange rates for all 90 available currencies. Sending money to bank accounts is easier, and users can now create PINs without first having to use a MasterCard-approved Chip & Pin ATM. Revolut has also added tutorial screens that display when the app is first installed.


Pictured: Revolut CEO and founder, Nikolay Storonsky, and CTO Vlad Yatsenko demonstrating Revolut at FinovateEurope 2015 in London.

Revolut_DroidFounded with a mission to eliminate the fees that often accompany both spending and transferring money, Revolut has been used by more than 80,000 people in 150 countries. More than $180 million has been transacted via the app, saving users an estimated $15 million. With the RevolutCard, users can make purchases worldwide in any one of 90 different currencies. And with the Revolut app, users can make instant money transfers through SMS, social media, and email, all without fees or a bank intermediary.

The app is available for download at the Apple App Store and at Google Play. Both the app and the multi-currency RevolutCard are free.

Revolut’s announcement was accompanied by a handful of “Fun Revolut Statistics” from 2015. These metrics give some interesting insights into how the technology has been used since it was launched last summer.

A few highlights:

  • Most populous EU country where Revolut has users: Germany
  • Least populous EU country where Revolut has users: Gibraltar

Top 5 most popular countries for the Revolut community to visit (based on transactions)

  • Spain
  • France
  • Australia
  • Canada
  • USA

Top 5 most popular retailers with the Revolut community (based on transactions)

  • Ali Express
  • Universal Studios
  • Microsoft Store
  • Amazon UK
  • Walgreens

Founded in December 2013 and headquartered in London, Revolut demonstrated its Personal Money Cloud at FinovateEurope 2015. The company made its public launch in July, at the same time announcing a successful $2.3 million venture round led by Balderton Capital.