Highlights of This Year’s Inc. 5000

Highlights of This Year’s Inc. 5000

Inc. has once again released its lists of the fastest-growing 5,000 private companies in the U.S. and Europe this week. A total of 13 Finovate alums made the U.S. list and 14 earned spots on the Europe list. To qualify*, companies were required to be privately-owned and independent.

Inc. 5,000 U.S.

The 5,000 companies on this year’s list collectively generated more than $206 billion in revenue. Here are the 13 Finovate alums that made the cut this year:

SeedInvest

  • Rank: 117
  • 2017 revenue: $4.7 million
  • 3-year growth: 33.8x
  • Founded: 2013
  • Employees: 30
  • Ranked number 4 in top financial services companies

SeedInvest demoed at FinovateSpring 2013.

Cardflight

  • Rank: 139
  • 2017 revenue: $5.1 million
  • 3-year growth: 29x
  • Founded: 2009
  • Employees: 192
  • Ranked number 5 in top financial services companies

CardFlight demoed at FinovateSpring 2013.

Alkami technology

  • Rank: 284
  • 2017 revenue: $26.8 million
  • 3-year growth: 17x
  • Founded: 2009
  • Employees: 299
  • Ranked number 10 in top Dallas companies

Alkami debuted under the name iThryv at FinovateSpring 2009.

Passport

  • Rank: 389
  • 2017 revenue: $12.3 million
  • 3-year growth: 12.6x
  • Founded: 2010
  • Employees: 96
  • Ranked number 4 in top Charlotte companies

Passport demoed at FinovateEurope 2016.

Emailage

  • Rank: 625
  • 2017 revenue: $16.6 million
  • 3-year growth: 8x
  • Founded: 2012
  • Employees: 79
  • Ranked number 6 in top security companies

Emailage demoed at FinovateSpring 2015.

Lighter Capital

  • Rank: 776
  • 2017 revenue: $11.9 million
  • 3-year growth: 6.5x
  • Founded: 2010
  • Employees: 39
  • Ranked number 11 in top Seattle companies

Lighter Capital demoed at FinovateFall 2013.

Tango Card

  • Rank: 912
  • 2017 revenue: $17 million
  • 3-year growth: 5.4x
  • Founded: 2009
  • Employees: 80
  • Ranked number 14 in top Seattle companies

Tango Card demoed at FinovateFall 2016.

WealthForge

  • Rank: 932
  • 2017 revenue: $8.9 million
  • 3-year growth: 5.3x
  • Founded: 2009
  • Employees: 29
  • Ranked number 6 in top Richmond, VA companies

WealthForge demoed at FinovateSpring 2016.

Unison

  • Rank: 1048
  • 2017 revenue: $2.3 million
  • 3-year growth: 4.7x
  • Founded: 2014
  • Employees: 10
  • Ranked number 4 in top Detroit companies

Unison demoed at FinovateFall 2017.

Acuity Systems

  • Rank: 1107
  • 2017 revenue: $12.6 million
  • 3-year growth: 4.5x
  • Founded: 2010
  • Employees: 26

Acuity Systems demoed at FinovateEurope 2013.

defi SOLUTIONS

  • Rank: 1176
  • 2017 revenue: $14.6 million
  • 3-year growth: 4.1x
  • Founded: 2012
  • Employees: 80

defi SOLUTIONS demoed at FinovateSpring 2014.

Interactions

  • Rank: 1550
  • 2017 revenue: $92.9 million
  • 3-year growth: 3x
  • Founded: 2004
  • Employees: 413

Interactions demoed at FinovateSpring 2014.

Cardlytics

  • Rank: 2886
  • 2017 revenue: $130.4 million
  • 3-year growth: 1.4x
  • Founded: 2008
  • Employees: 342

Cardlytics demoed at FinovateFall 2014. The company went public early this year.

Inc. 5,000 Europe

This is the fourth year in a row Inc. has ranked European countries. The rankings are based on three-year revenue growth. Here are the 14 Finovate alums that earned a spot on the list, including SumUp, which took the number one slot:

SumUp

  • Rank: 1
  • 2016 revenue: $63.7 million (€56 million)
  • 3-year growth: 143.7x
  • Founded 2011
  • Employees: 500

SumUp demoed at FinovateEurope 2013.

VATBox 

  • Rank: 91
  • 2016 revenue: $6.9 million (€6.1 million)
  • 3-year growth: 25x
  • Founded 2012
  • Employees: 140

VATBox demoed at FinovateEurope 2015.

Kantox 

  • Rank: 390
  • 2016 revenue: $4.9 million (€4.3 million)
  • 3-year growth: 12x
  • Founded 2011
  • Employees: 73

Kantox demoed at FinovateEurope 2013

HelpMyCash

  • Rank: 699
  • 2016 revenue: $2.96 million (€2.6 million)
  • 3-year growth: 8.3x
  • Founded 2007
  • Employees: 16

HelpMyCash demoed at FinovateEurope 2011.

Featurespace 

  • Rank: 901
  • 2016 revenue: $3.41 million (€3 million)
  • 3-year growth: 7x
  • Founded 2005
  • Employees: 62

Featurespace demoed at FinovateFall 2016.

Kalixa Payments 

  • Rank: 918
  • 2016 revenue: $42.3 million (€37.2 million)
  • 3-year growth: 7x
  • Founded 2008
  • Employees: 112

Kalixa demoed at FinovateEurope 2013.

Zopa

  • Rank: 1314
  • 2016 revenue: $46.3 million (€40.7 million)
  • 3-year growth: 5.4x
  • Founded 2004
  • Employees: 188

Zopa demoed at FinovateSpring 2008.

Feedzai

  • Rank: 1330
  • 2016 revenue: $13.8 million (€12.1 million)
  • 3-year growth: 5.4x
  • Founded 2008
  • Employees: 68

Feedzai demoed at FinovateEurope 2014.

Trustly

  • Rank: 1344
  • 2016 revenue: $36.7 million ( €32.3 million)
  • 3-year growth: 5.4x
  • Founded 2008
  • Employees: 83

Trustly demoed at FinovateEurope 2017.

Fenergo

  • Rank: 1882
  • 2016 revenue: $33.8 million ( €29.7 million)
  • 3-year growth: 3.8x
  • Founded 2012
  • Employees: 183

Fenergo demoed at FinovateEurope 2012.

Innofis

  • Rank: 2452
  • 2016 revenue: $8.2 million (€7.2 million)
  • 3-year growth: 2.6x
  • Founded 2012
  • Employees: 69

Innofis demoed at FinovateEurope 2016.

Quadient France 

  • Rank: 2966
  • 2016 revenue: $8.9 million (€7.8 million)
  • 3-year growth: 1.8x
  • Founded 2007
  • Employees: 21

Quadient demoed at FinovateEurope 2018.

True Potential

  • Rank: 3233
  • 2016 revenue: $88.5 million (€77.8 million)
  • 3-year growth: 1.5x
  • Founded 2007
  • Employees: 234

True Potential demoed at FinovateFall 2014.

Comarch

  • Rank: 4954
  • 2016 revenue: $35.6 million (€31.3 million)
  • 3-year growth: 59%
  • Founded 1978
  • Employees: 148

Comarch demoed at FinovateEurope 2017.


*Companies on the 2018 Inc. 5000 are ranked according to percentage revenue growth from 2014 to 2017. To qualify, companies must have been founded and generating revenue by March 31, 2014. They must be privately held, for-profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2017. (Since then, some on the list have gone public or been acquired.) The minimum revenue required for 2014 is $100,000; the minimum for 2017 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.

SumUp Facilitates Cashless Donations for the Church of England

SumUp Facilitates Cashless Donations for the Church of England

Mobile payments company SumUp is making it easier for church congregations to donate thanks to a partnership with the Church of England. The Ireland-based company’s mobile point of sale (mPOS) technology will be available for congregations to make contributions at weddings, funerals, christenings, and other church events such as concerts. This follows a successful trial of contactless payments in around 40 churches last summer.

Specifically, SumUp will facilitate contactless, virtual terminal, and mobile SMS donations for the church, which regularly receives more than $800 million (£580 million) in donations per year. This is expected to not only make payments faster and easier but also to adapt to a younger congregation demographic in an increasingly cashless society.

All of the Church of England’s 16,000 churches will have access to a portable SumUp Air card reader. These terminals accept contactless payments, Apple Pay, and Google Pay, as well as chip & PIN and can process 500 transactions on a single charge.

If you’re worried the biblical parable of the widow’s offering will be less relevant, do not fear– the terminals will not be used to accept regular tithes and offerings from the church pews. There is still too much friction involved, since each transaction must be entered into the terminal by a church deacon or other representative, and because a card transaction still takes more time than simply dropping cash into the collection plate.

In a press release, National Stewardship Officer of The Church of England John Preston said, “How we pay for things is changing fast, especially for younger church-goers, who no longer carry cash, and we want all generations to be able to make the most of their place of worship. Installing this technology does mean that one-off fees can be done via card, as can making one-off donations. The vast bulk of regular giving will continue to be done by standing order as we continue our trial with various technologies.”

SumUp was founded in 2011 and was recently named Europe’s fastest-growing company in the Inc. 5000 rankings. That achievement is difficult to contest– SumUp onboards more than 2,000 new companies each day, processes more than 100,000 global transactions every day, and exceeded $98 million (£70 million) in annual revenue last year. The company’s clients include DHL, black cab drivers, Tupperware, and Bosch. SumUp demonstrated its mPOS system at FinovateEurope 2013 in London. The company has raised $44 million from investors including American Express, BBVA, Groupon, and Holtzbrinck Ventures.

Finovate Alumni News

On Finovate.com

  • Neener Analytics Completes Proof-of-Concept with Jamaican Payday Lender.
  • Personetics Brings Cognitive Banking to Romania’s Banca Transilvania.
  • Hyperwallet’s Partnership with Lyric Brings Advance Royalty Payments to Artists
  • SumUp Facilitates Cashless Donations for the Church of England.

Around the web

  • AutoGravity announces new partnership with Infiniti.
  • New alliance with Mainsys helps bolster Temenos presence in Belgium.
  • Currencycloud unveils Global Collections to enable customers to receive cross border payments with less cost and less friction.
  • Flywire and Flutterwave partner on cross-border payments & receivables in Nigeria.
  • Cardlytics announces Q4 and full year 2017 financial results.
  • Somerset Trust Company selects Digital Onboarding for fully automated new account activation.
  • Finicity announces integration agreement with Ellie Mae to provide its digital asset verification solution through Ellie Mae’s Encompass platform.
  • XM.com expands use of Paydentity from iSignthis for China eKYC.

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.

SumUp Partners with BancoEstado to Boost Mobile Card Acceptance in Chile

SumUp Partners with BancoEstado to Boost Mobile Card Acceptance in Chile

SMEs in Chile have just won a new ally when it comes to making it easier to accept mobile card payments. The country’s largest national bank, BancoEstado de Chile, has partnered with SumUp to launch a joint venture that will give Chilean businesses the ability to offer “anytime, anywhere” mobile card acceptance without fees or contracts.

The joint venture, branded Compraqui, will be based in Santiago de Chile and leverages SumUp’s success in developing mobile Point of Sale (mPOS) solutions for more than 30 markets in Europe and the Americas. The companies believe that the combination of SumUp’s technology and BancoEstado’s history of providing financial services to Chile’s SME community will boost the number of card acceptance points to 1.5 million in the next three years.

“This is a milestone for the small business sector in Chile,” SumUp CEO Daniel Klein said. “We truly disrupt the existing market for card acceptance through Compraqui’s unique offering. It represents each company’s strong commitment to provide business owners with easy access to card payment technology to ultimately increase their revenue.”

According to Gerente General of BancoEstado Jessica López Saffie, the need for card acceptance solutions in Chile for small businesses is significant. “Together we address more than 600,000 SMEs and 1.2 million sole proprietors who currently cannot accept card payments,” she said, adding that the bank chose SumUp as a partner after a careful examination of the competition.

“We ran a comprehensive selection process, evaluating many card acceptance solutions,” López Saffie said. “With a proven business model and a market-leading end-to-end card acceptance solution providing highest security standards, SumUp came out at the top of this process.”

Founded in 2011 and headquartered in the U.K., SumUp demonstrated its mPOS technology at FinovateEurope 2013. The company unveiled its new online payments suite this summer, which added the ability to accept payments via SMS; a Virtual Terminal to enable online, CNP transactions; as well as a set of APIs and SDKs for additional payment integrations.

SumUp has more than $100 million in annual revenue, processes more than 100,000 card transactions daily, and 2,000 new businesses joining its service every day. With more than $44 million in total funding, SumUp includes Life.SREDA and BBVA Ventures among its investors.

Finovate Alumni News

On Finovate.com

  • SumUp Partners with BancoEstado to Boost Mobile Card Acceptance in Chile.

Around the web

  • New software and cash recycling technology from Diebold Nixdorf to support an upgrade of 400 ATMs by Turkey’s VakifBank.
  • ACI Worldwide teams up with Zelle to bring real-time payments to FIs.
  • BNP Paribas to deploy Fenergo’s Client Lifecycle Management (CLM) solution.

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

On Finovate.com

  • BizEquity Brings Business Valuation Data to Wall Street Journal Pro.
  • Fern Software Opens Cloud Platform to Third Parties in the U.K. and Ireland.

Around the web

  • SumUp announces expansion to 15 European countries, doubling the number of markets the company serves.
  • UK Hot Views takes a look at the recent financial performance of Vipera.
  • OnDeck celebrates 10th anniversary, having provided more than $7 billion in capital to more than 70,000 customers.
  • Ellie Mae acquires Velocify in $128 million deal.

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 Among Top Investment Targets for Top European Banks

Finovate Alums Among Top Investment Targets for Top European Banks

Earlier this year, CB Insights took a look at where fifteen of the top European banks were spending their investment dollars. The result is an interesting portrait of an industry appears very committed to three areas of fintech in particular: blockchain, financial services software, and Regtech. Of the 15 banks represented in CB Insights’ survey, all but one had invested in R3, the blockchain consortium, with ten banks investing in financial services software companies, and eight banks funding Regtech firms.

Also noteworthy is the presence of ten Finovate/FinDEVr alums among the investments. Symphony Software Foundation, an alum of our developer’s conference, FinDEVr, was the alum with the most support from among the 15 European banks. Santander was the bank with the broadest support among our alum community, backing six out of the 11 alums listed.

Kabbage (FinovateSpring 2015)

  • Founded in 2009
  • Headquartered in Atlanta, Georgia
  • Total Capital Raised: $488 million
  • Top European banks: Santander, ING

Personetics (FinovateFall 2016)

  • Founded in 2010
  • Headquartered in Tel Aviv, Israel
  • Total Capital Raised: $18 million
  • Top European bank: Santander

Prosper (FinovateSpring 2009)

  • Founded in 2006
  • Headquartered in San Francisco, California
  • Total Capital Raised: $355 million
  • Top European bank: Credit Suisse

Ripple (as OpenCoin, FinovateSpring 2013)

  • Founded in 2012
  • Headquartered in San Francisco, California
  • Total Capital Raised: $93.6 million
  • Top European bank: Santander

SaveUp (FinovateSpring 2014)

  • Founded in 2011
  • Headquartered in San Francisco, California
  • Total Capital Raised: $7 million
  • Top European bank: BBVA

SigFig (FinovateFall 2011)

  • Founded in 2007
  • Headquartered in San Francisco, California
  • Total Capital Raised: $60 million
  • Top European banks: Santander, UBS

Socure (FinvoateFall 2015)

  • Founded in 2012
  • Headquartered in New York, New York
  • Total Capital Raised: $29.4 million
  • Top European bank: Santander

SumUp (FinovateEurope 2013)

  • Founded in 2011
  • Headquartered in Dublin, Ireland
  • Total Capital Raised: $44.3 million
  • Top European bank: BBVA

Symphony Software Foundation (FinDEVr New York 2017)

  • Founded in 2014
  • Headquartered in Palo Alto, California
  • Total Capital Raised: $229 million
  • Top European banks: BPCE/Natixis, UBS, Deutsche Bank, Societe Generale, BNP Paribas, Credit Suisse

Tradeshift (FinovateEurope 2012)

  • Founded in 2010
  • Headquartered in San Francisco, California
  • Total Capital Raised: $182 million
  • Top European banks: Santander, HSBC

Tyfone (FinovateSpring 2008)

  • Founded in 2004
  • Headquartered in Portland, Oregon
  • Total Capital Raised: $13.4 million
  • Top European bank: Deutsche Bank

The analysis focused on fintech investments from 2012 through June 2017, and includes investments made by the venture arms of the banks shown.

SumUp Goes Beyond mPOS with New Online Payments Suite

SumUp Goes Beyond mPOS with New Online Payments Suite

Payments company SumUp is announcing new payment functionalities today. The U.K.-based company has extended its flagship mPOS service beyond payment cards and the point-of-sale (POS).

The new payment suite offers three new solutions:

  • The SMS feature enables merchants to accept payments made via SMS. The merchant enters the amount due in the SumUp app, which sends the customer an SMS text with a link to a basic online form to enter their payment credentials. There is no card reader required.
  • The Virtual Terminal enables ecommerce merchants to accept card-not-present transactions online.
  • The APIs and SDKs enable merchants to accept online payments via a SumUp integration in their ecommerce shop, and even leverage card-on-file information for recurring billing.

Marc-Alexander Christ, co-founder of SumUp, said that the new avenues open up market opportunities for merchants. “The ultimate challenge for businesses is to find a convenient solution for cross-channel payment acceptance. Traditional offerings focus either on online or offline payments – limited to one or few markets. Through our Omnichannel Payment Suite, we offer simple and secure access to all payment types under one roof,” Christ said.

SumUp works in 16 markets, including in Brazil, the U.S., and all of Europe. Earlier this month, the company appointed Ryan O’Connor as U.S. Managing Director. Last fall, the company launched its Air Register, an all-in-one payment terminal configuration that accepts chip & PIN, magstripe, and contactless payments, and comes with a thermal receipt printer. SumUp demonstrated its mPOS system at FinovateEurope 2013 in London.

Finovate Alumni News

On Finovate.com

  • SumUp Goes Beyond mPOS with New Online Payments Suite.
  • Hot Takes! Fierce Debate! Finovate Presents the Battle of the Fintech Analysts.

Around the web

  • Ixaris appoints WorldPay co-founder and former Skrill/Paysafe Group CEO David Sear as Chairman
  • Leumi Card to use Feedzai’s Artificial Intelligence platform to fight fraud.
  • PYMNTS takes a look at Modo’s COIN technology.
  • iSignthis deploys its Payidentity service to Borgun.

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

On Finovate.com

  • Stratumn Lands $7.8 Million, Forms Strategic Partnership with NASDAQ.
  • Check out previews of upcoming FinDEVr London presentations next week:

Around the web

  • Bankjoy partners with SafeAmerica CU to build new omnichannel banking platform.
  • SumUp hires Ryan O’Connor as Managing Director for the U.S.
  • Top Image Systems consolidates Executive Management Team.
  • Solomoto and Bluevine partner to offer credit lines and digital marketing to small businesses globally.
  • Mastercard launches comprehensive digital payment solution for small and midsized businesses.
  • Independent Bank to leverage Insuritas to serve the bank’s 250,000+ customers.
  • Ruth Wandhöfer, Global Head of Regulatory and Market Strategy at Citi, joins Pendo Systems’ board.

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

On Finovate.com

  • KeyBank Acquires HelloWallet from Morningstar.
  • Zopa Receives $41 Million Investment to Support Challenger Bank Launch.

Around the web

  • Scalable Capital wins Financial Innovation of the Year from the Online Personal Wealth Awards.
  • MaxMyInterest introduces 1.31% preferred rate courtesy of new partnership with UFB Direct.
  • SumUp announces availability in more than 1,500 retail locations throughout Europe.
  • Tuition.io Awarded ISO 27001 Certification.
  • Econiq models conversation behaviors of top-performing employees to enrich the omnichannel customer experience for banks and insurers.
  • OANDA teams up with QuantConnect to launch new algo trading portal.

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.

SumUp Launches Air Register

SumUp Launches Air Register

sumup_homepage_october2016

One year after bringing its e-commerce technology to the U.S., SumUp is launching Air Register, giving mPOS software providers an all-in-one hardware solution to offer customers. Air Register enables merchants to accept chip and magnetic stripe cards as well as contactless payments from Apple Pay and Android Pay. SumUp’s all-on-one configuration comes with an iPad mini and a thermal receipt printer enclosed in a wood case made from sustainably forested oak.

Besides “enabling our partners to offer their apps in a stunning package,” SumUp CEO Daniel Klein says the solution makes it easier for tablet-based cash-register providers to connect apps to SumUp’s open-payments platform.

Founded in 2011, SumUp demonstrated its technology at FinovateEurope 2013. The company teamed up with fellow Finovate alum Holvi in August 2016 to provide greater payment options to small businesses in Germany. SumUp merged with Payleven this spring, creating a payment-processing powerhouse transacting more than €1 billion a year across 15 countries. Last month, SumUp announced it had reached profitability, nearing $100 million in annual revenue. “We are the world’s first company to prove that empowering small merchants with card acceptance can be a profitable business,” Klein said in a statement, “despite tight margins in the long tail.”