Big Funding Week for Finovate Alumni

This week, three Finovate alumni reached significant funding milestones.  


New round
$14 million Series B from Wellington Partners, Balderton Capital, TTV Capital, and Patagorang 
Funding History
$12.1 million Series A in July 2010
Previous Investors
Balderton Capital, Stanley S. Shuman of Allen & Co., and Total Technology Ventures 
Market Position: Online Payments and Personal Financial Management
Founded: 1999
Locations: Denver, London, Australia, and China
eWise creates payment and financial management solutions for financial institutions including:
  • eWise Pay By Account 
  • eWise Pay Anyone 
  • eWise Account Aggregation
  • eWise Personal Financial Manager 
  • eWise eAuthentication
For more information on eWise’s innovations, see their FinovateEurope 2011 and FinovateSpring 2011 demos.

New Round 
$17.2 million from Draper Fisher Jurvetson, Crosslink Capital, Accel Partners, CompuCredit, Omidyar Network, Eric Schmidt’s TomorrowVentures and Volition Capital 
Funding History
$7.5 million Series A in April 2005
$12.5 million Series B in February 2006
$20 million Series C in June 2007
$14.5 million Series D in April 2010
Previous Investors 
Accel Partners, Benchmark Capital, DAG Ventures, Eric Schmidt
Fidelity Ventures, Meritech Capital Partners, Omidyar Network, QED Investors, and TomorrowVentures
Market Position: Peer-to-peer Lending
Founded: 2006
Location: San Francisco, CA
Prosper, a peer-to-peer lending site with over one million members, has funded $236 million in personal loans. To see Prosper in action, check out their FinovateStartup 2007, FinovateStartup 2008, and FinovateStartup 2009 demos. 

New Round
$20 million Series B funding from Andreessen Horowitz, Leapfrog Ventures, Seraph Group, and Startup Capital Ventures
Funding History
$2.1 million Series A in September 2008

Previous Investors
Leapfrog Ventures, Seraph Group, Startup Capital Ventures
Market Position: Security
Founded: 2008
Location: Palo Alto, CA
Silver Tail Systems’ products detect online and mobile fraud, help investigate possible attacks, and prevent future attacks. To learn more about Silver Tail Systems’ innovative fraud detection, check out their FinovateStartup 2009, Finovate 2009, FinovateSpring 2010, FinovateFall 2010, FinovateEurope 2011, and FinovateSpring 2011 demos.

Alumni News — Week of March 28, 2011

To follow Finovate alumni news in real time, follow us on Twitter here and Doxo recognized as “AlwaysOn OnDemand 100 Top Private Company.”
Bling Nation launches Social Connect platform. The platform allows Bling users to connect online with social rewards features from their favorite merchants.
Bobber Interactive garners $1.1 million Series A funding round. This funding round was led by PEAK6 Investments.
Capital Access expands remittance program to include Puerto Rico and 21 more countries. The Capital Access platform is designed for “daily” remittances and revenue-sharing programs.
COCC selects mFoundry as mobile banking partners. The company has selected mFoundry’s mobile INSIGHT product for multi-mode mobile banking services. launches “Quest for Money” online game. The game is intended for middle school students and is available to play online.
Morningstar to provide mutual fund Platform to eRollover. eRollover users will have access to Morningstar’s historical information and comparison tools for mutual funds.
Silver Tail Systems wins Emergent Technology Award. The award, given by the Merchant Risk Council, is rewarding the company’s innovative security systems.
Sybase argues NFC is “way overhyped.” In VentureBeat Sybase President Marty Beard argues that it isn’t proven that NFC really is better than the other technologies available.
Xero launches integrated payroll solution. 

Alumni News — Weeks of January 24, 31, and February 7, 2011

To see Finovate alumni company news in real-time, follow our feed on Twitter here.

Betterment and partner for “set it and forget it” investment accounts. The accounts have no minimum balance.

Bling Nation rolls out the “fan connect” platform in Chicago. The Chicago rollout is part of a broader national rollout to come.

Cardlytics and NetSpend partner to bring reward offers to the underbanked. The partnership will create opportunities for targeted offers to reach users of prepaid debit cards.

Cardlytics wins Red Herring Global 100 winner. — Cardlytics is a pioneer in in-statement merchant-funded rewards.

CashEdge and NYCE join forces to provide person to person payment technology. Popmoney will now be available to 3,000 NYCE financial institution clients.

ClairMail announced that revenue tripled in 2010. The company attributes the growth to the launch of their mobile connectivity architecture in early 2010.

DebtGoal launches The new site acts as the flagship domain and provides a tools and content supporting debt reduction.

eRollover launches Advisor Center. Ask retirement questions online in the new Advisor Center.

Fiserv and WorkLight partner to make mobile application deployment and development faster.

Frost and Sullivan names mFoundry “Entrepreneurial Company of the Year” in the mobile banking category.

Guardian Analytics announces 150%  growth. The company attributes the rapid growth to the success of its FraudMap technology.

Jack Henry’s launches new services to help small businesses accept online payments.

Lending Club increased the maximum loan amount from $25,000 to $35,000.

mFoundry launches standalone mobile deposit solution that can be implemented at a financial institution within 30 days.

Intuit’s Mint and TurboTax team up to make taxes easier.

Mozo launches Money Q & A portal where users can ask questions or answer questions posed by others.

On Deck Capital secures $15 million Series-C funding. The funding round was led by SAP Ventures.

Plastyc closes $2 million strategic investment from Core Innovation Capital. Core Innovation Capital is the investment partner for the Center for Financial Services Innovation.

Silver Tail Systems announces the addition of a user-specific monitoring system. adds sixty new online retailer cash-back partners, and six more gift card partners. Expedia,, Cabela’s and Babies R Us are included in this latest offering.

SmartyPig’s cash rewards card wins Paybefore award twice.

The Receivables Exchange partners with Biz2Credit, an online loan-matching portal.

Alumni News — Week of January 17, 2011

To see Finovate alumni company news in real-time, follow our feed on Twitter here
Acculynk brings PaySecure PIN security to mobile devices. – The mobile PIN payment system should be available to consumers in first quarter 2011.
AlphaClone is mentioned on Wall Street Journal front page article, “Pack Mentality Grips Hedge Funds.” – The story ran Jan 15, 2011 and details the similar strategies in hedge fund management.
Backbase opens a New York City office to house field operations staff and help to serve East Coast financial institutions. partners with Track1099 for easy, paperless IRS-1099 filing. – Users can report independent contractor payments in two easy steps direct from their page.
iPay Technologies launches Biz 2.0 Crossover to help small businesses convert to business online bill payment. – The system identifies businesses using consumer online bill pay and targest them for upgrade to the business version.
Kasasa adds Neighborhood Credit Union to the fold. – NCU is the largest credit union in the Dallas-Ft. Worth area.
Kony solutions raises $19.1 million for mobile application platform. – Kony creates mobile applications for numerous industries including banking and investments.
Frost and Sullivan names mFoundry “Entrepreneurial Company of the Year” in the mobile banking category.
Mint and TurboTax team up to make taxes easier. – Mint allows for tagging of deductible transactions and free e-filing via Turbo Tax.
SilverTail Systems is hosting a Webinar on Jan 27 covering the differences between ecommerce and online financial Fraud. —
SmartyPig’s cash rewards card wins Paybefore award twice. – Congratulations to Smartypig for winning in two categories, “best general purpose reloadable program” and “best consumer value in prepaid.”
Joseph Leone, former vice chairman and CFO of CIT Group, joins the board of advisors at The Receivables Exchange. – Leone is a nationally recognized expert in commercial lending.

Weekly Updates — Week of November 8, 2010

Here’s the news from the Week of November 8, 2010. To see our updates real-time, follow us on Twitter.

Bling Nation partners with the southern USA’s largest grocery chain, Brookshire Grocery. — Bling Nation users can now pay, redeem and earn rewards with their mobile device at Brookshire and Super 1 stores.
Donate to charity with SwipeGood and Blippy. — Purchases are rounded up to the nearest dollar and the difference is donated to the charity of your choice.
Card 2.0 from Dynamics wins “Best in Show.”  — The high-tech credit card was named the best innovation in personal electronics in a pre-show contest sponsored by the Consumer Electronics Show (CES).
See how eRollover makes rolling over a 401k simple .
Jemstep announces the Jem 5. — Each week Jemstep will list its top 5 mutual funds.
Michican First Credit Union adds Jwaala online banking services. — Michigan First has 80,000 members and $550 million in assets and was founded in 1926.
Jwaala partners with iPay to provide bill-pay solutions. shut down its online PFM service on Nov 3. — A conversion guide is available to those who wish to move to MoneyStrands.
See Silver Tail’s  “federation service” in action.
Silver Tail  Systems won a contract to provide behavior analytics to US Government websites.

FinovateFall 2010 Demo Videos Now Available


We’re pleased to announce that the demo videos from FinovateFall 2010 are now available for free download (or immediate consumption) from the Finovate archives.

This fall’s NYC conference showcased 56 handpicked companies doing 7-minute demonstrations (no slides allowed) of their latest technology innovations to a sold-out audience of 650 financial & banking executives, venture capitalists, press, analysts and entrepreneurs.

Check out these cutting-edge ideas in financial, banking, payments, mobile, lending, investing and security technologies today for inspiration and your next edge on the competition! 

(P.S. If you’re interested in joining us at the next Finovate event, tickets are now on sale for FinovateEurope (Feb, 1, 2011 in London). It is going to be an amazing showcase of European and global fintech innovation!)


Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at

FinovateFall 2010 Demo Lineup Revealed


We’re very excited to reveal the 56 cutting-edge companies that have been selected to demo their latest technology innovations on October 4 and 5 in New York City at FinovateFall.

Over the show’s two days, attendees will get to watch the future of fintech and banktech unfold on stage via fast-paced demos (28 each day) from these innovators. And then have a chance to interact with top executives from each of the demo companies during intimate networking sessions.

Without further delay, here’s the list of companies we’re excited to showcase:

If you’re interested in attending the conference, registering now will save you $100 on your ticket via the early-bird discount and reserve your spot (space is limited and we’re expecting to sell out). We’ll see you in New York!


Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at

FinovateSpring 2010 Demo Companies Revealed


We’re very pleased to announce the lineup for the upcoming FinovateSpring 2010 conference. Taking place on Tuesday May 11 in San Francisco, the conference will showcase dozens of handpicked companies debuting and demoing their latest and greatest fintech innovations. The quality of the new ideas that will be demoed on stage is very high this year and we’re incredibly excited to showcase them to you.

The demoing companies selected (that we can reveal so far) are:

These companies will be showcased to an audience of senior financial/banking/credit union executives, influential press, industry analysts, venture capitalists, bloggers, tech companies and entrepreneurs.

A sampling of the great organizations already registered to attend includes: AARP, Aite, Alliant Credit Union, BNP Paribas, Capital One, Celent, Discover, Experian, Fidelity, Filene, Forrester Research, Google, Highland Capital, Intuit, Javelin Strategy, Jack Henry, Mechanics Bank, Motley Fool, NY Times, PayPal, Tower Group, USAA, US Bank, Venrock, Wells Fargo, and Wired Magazine.

We’d love to have you join us at the spring event and watch the future of finance/banking unfold onstage. If you register today you’ll save $100 via the early-bird ticket discount. Please note that the early-bird prices expire at the end of this month and space is limited so lock in your spot now!

ericphoto.jpgEric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at