- “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.
The 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
- Xero: $111 million in February
- Coinbase: $75 million in January
- Betterment: $60 million in February
- TransferWise: $58 million in January
- App Annie: $55 million in January
- Ayasdi: $55 million in March
- Motif Investing: $40 million in January
- Ripple Labs: $30 million in January
- Bill.com: $50 million in February
- 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 firstname.lastname@example.org. We would love to share the good news! Funding received prior to becoming an alum not included.
North Carolina-based payments specialist Spreedly has secured a new investment of $150,000. Information on the investors was not immediately available. The new funding takes the company’s total to more than $2 million.
Spreedly’s “credit card vault in the cloud” technology gives merchants and aggregator platforms the ability to work simultaneously with multiple payment gateways. With its single API and secure credit card tokenization, Spreedly’s solution provides both greater flexibility and control over the payments process.
Spreedly recently reported processing $50 million
in credit card transactions in December 2014, the company’s 22nd month since its re-launch to its current incarnation. Spreedly launched a collaboration with PayItSimple
in December, as well, helping the Israel-based POS consumer financing company integrate with 70% of U.S. payment gateways. Spreedly currently serves more than 70 gateways in more than 80 countries.
According to a report from the Triangle Business Journal, credit card vault in the cloud, Spreedly has raised another $750,000 in equity funding.
The Journal’s report is based on a review of a recent SEC filing by Spreedly. The report adds that a single investor is listed in the filing.
Spreedly’s most recent funding was from a $500,000 venture round in January
. With previous equity investment of $1.3 million according to Crunchbase, this latest infusion brings Spreedly’s total capital to just north of $2 million.
Spreedly serves 71 gateways and 82 countries as of October 1. The company processes more than 160,000 successful credit card transactions a month, producing between $15 and $20 million in top line revenue. Its solutions make PCI compliance easier, help companies develop their own recurring billing programs, and eliminates revenue lost by out-of-date cards by automatically updating all cards on file.
Based in Durham, North Carolina, Spreedly was founded in 2008. Justin Benson is CEO. See the company launch
its Payment Method Distribution & Card-on-File Updater solution at FinovateSpring 2014 here.