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$500 million processed on the Revolut card (this includes money spent over the Revolut card, the mobile app, and withdrawn from ATMs).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.

Finovate Alumni News


  • Larky Launches at Three New Credit Unions.
  • London’s Revolut Unveils Version 2.0 of its Personal Money Cloud

Around the web

  • Fifth Third Bancorp to deploy AML solutions from NICE Systems’ Actimize.
  • interviews Kashoo Communications lead Dave Clarke on cloud accounting.
  • Baxter Credit Union ($2.4 billion) chooses ORB platform from Alkami Technology.
  • Roundup of Australia fintech startups features Avoka. See Avoka at FinovateEurope 2016 in London.
  • Encap releases version 3.1 of its mobile authentication and security platform.
  • First Data’s Clover launches Clover Go mobile POS dongle.
  • Coinbase introduces price alert push notifications on iOS and Android.
  • In 2015, Kasasa sees 45% growth in clients, now counts 779 signed community FIs.

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

Around the web

  • mBank partners with PayU to bring mTransfer Mobile to Poland.
  • WS Integration awarded Little British Battler status by Techmarketview.
  • BizEquity named one of the ‘Best Entrepreneurial Companies in America’ by Entrepreneur magazine’s Entrepreneur 360 Awards.
  • Bluepoint Solutions partners with Gro Solutions for mobile account opening.
  • Germany-based vaamo now enables customers to open accounts online.
  • Irish Mirror features Revolut among 8 startups “you need to know about” at the Web Summit in Dublin.
  • Forbes takes a look at how Dwolla is bringing real-time payment technology to CME Group.
  • BNY Mellon’s Leda Glyptis lists Heckyl Technologies among her personal favorite 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.

Finovate Alums Earn Top Honors at U.K. Emerging Payments Awards

Three Finovate/FinDEVr alums won top honors at the Emerging Payments Awards in London, United Kingdom, earlier this month.

HyperwalletLogoHyperwallet won in the “Best Corporate/Government Payments Programme” division with its Paylution Global Disbursements Program. In a statement, CEO Brent Warrington highlighted the scalability and flexibility of the Hyperwallet platform, and reported that more than five million independent workers are currently using the technology. Hyperwallet demonstrated its RESTful API and embedded payout widget at FinDEVr 2015 in San Francisco in October.

Revolut_logo_high-resIn partnership with Optimal Payments, Revolut won the “Best Emerging Payments Startup” category. Optimal Payments and Revolut teamed up back in July to launch a multi-currency MasterCard and mobile app that helps travelers take advantage of the best exchange rates available. Revolut made its Finovate debut this year at FinovateEurope 2015 in London.

Clover_logoClover Mobile won “Best Payment Technological Innovation” for its Future-Proof mPOS. Clover Mobile was launched in the fall of 2014, a year after Clover was acquired by First Data. Clover made its Finovate appearance at FinovateSpring 2012 in San Francisco.

The other four Finovate/FinDEVr alums that made it to the finals were:

The event’s overall Industry Contributor Award went to IrisGuard for its EyeBank Iris Recognition electronic payment platform. The platform has been deployed to help bring “sustainable financial inclusion” to those in the Syrian refugee program. As of June 2015, the program had enrolled more than 1.6 million refugees.

Now in its eighth year, the Emerging Payments Awards help recognize creative and business talent in the payments industry. The Awards are run by the Emerging Payments Association, which has also provided the Prepaid Awards since 2006. The Association said that this year’s Emerging Payments Awards was its largest event to date.

If you’re in the United Kingdom and love fintech, then make sure FinovateEurope 2016 is on your calendar. Our two-day conference returns to London, February 9 and 10, 2016.





Finovate Alumni News


Around the web

  • Yodlee’s startup incubator contributes to “Startup Fever.”
  • Revolut, Sedicii, SizeUp, & Token named Innotribe Startup finalists.
  • TIS signs deal to process school exams in Chile.
  • Trustly appoints Jonas Palmquist as chief financial officer.
  • features PsychSignal and Market Prophit in a discussion on market signals and social media.
  • Dwolla launches its white-label service to make it easier for FIs to use its FiSync transfer platform.
  • Segmint launches new marketing solution, Segmint Reach.
  • RetailWeek features TradeShift as startup of the week.
  • Lending Club celebrates surpassing $11 billion in loans.

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.