SumUp

Finovate Alumni News

By David Penn Posted on
Categories: Chain.com, Dwolla, Revolut, SumUp, VISA, wipro

On Finovate.com

Around the web

  • Visa builds new blockchain payments platform, Visa B2B Connect, in partnership with Chain.
  • Wipro to acquire cloud services firm, Appirio, for $500 million.
  • Open source subscription billing and payments platform, Kill Bill, integrates with Dwolla.
  • Revolut wins Best New Customer Facing Innovation at Emerging Payments Awards 2016.

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.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, ayondo, Boku, Braintree, MasterCard, PayPal, payworks, SumUp, Top Image Systems, TransferWise, VISA

On Finovate.com

  • FinovateFall: Mapping the Future of Fintech Today
  • Payworks Raises $4.5 Million Series A
  • Mastercard Says “Me Too” to Visa’s PayPal Partnership

Around the web

  • Top Image Systems Signs Two Accounts Payable Automation Deals Valued at Over $480,000
  • EU-based mobile payments company SumUp achieves profitability.
  • Let’s Talk Payments interviews Boku CEO Jon Prideaux.
  • ACI Worldwide brings UP Retail Payments to Erste Bank Hungary.
  • Braintree to offer Visa Checkout.
  • ayondo relaunches website with new design and features to improve trading experience.
  • TransferWise announces tripling of revenues in first public annual report.

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.

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Holvi and SumUp Join Forces to Serve SMEs and the Self-Employed

Holvi and SumUp Join Forces to Serve SMEs and the Self-Employed
By David Penn Posted on
Categories: Holvi, SumUp

Holvi_homepage_August2016

SumUp helps merchants accept card payments, and Holvi provides banking services to small businesses. The just-announced partnership between the two will give small businesses and the self-employed a more complete range of financial services without having to rely on traditional banks.

“The cooperation with SumUp is the next logical step for us, because the payment (market) is moving more and more toward the card payments in Germany,” said Leah Marie Zeppos, Holvi DACH country manager. The opportunity is especially large among the self-employed, which has grown by nearly 40% in the past decade to total more than 1.3 million Germans.

SumUp_Germany_homepage_August2016

“With the Holvi business account, our customers can concentrate on the essentials,” says Maximilian Stella, SumUp’s VP of business development. “Independence has never been so easy.” SumUp and Holvi see the partnership has helping encourage entrepreneurship in way that is more cost-effective and efficient for smaller companies and individual businesses.

Founded in 2011 and headquartered in London, SumUp demonstrated its technology at FinovateEurope 2013. The company acquired payleven this spring, creating a €1 billion-a-year payment-processing giant that provides services in 15 countries including Germany and Brazil. Daniel Klein is CEO.

Holvi provides small business customers with an online business banking account, a Business MasterCard, and digital accounting and bookkeeping. Referred to by Wired magazine as one of the “hottest startups in Finland,” the company was acquired by BBVA in March. Johan Lorenzen joined Holvi as CEO in 2013, the same year the Helsinki-based startup made its most recent Finovate appearance.

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Finovate Alumni News

By David Penn Posted on
Categories: Cachet Financial Solutions, Compass Plus, CUneXus, DefenseStorm, Full Profile, Holvi, OutsideIQ, PayActiv, payworks, QE Data, SaleMove, SumUp, TransUnion, TSYS

On Finovate.com

  • Holvi and SumUp Join Forces to Serve SMEs and the Self-Employed
  • CUneXus Closes $5 million Series A

Around the web

  • Cybersecurity innovator DefenseStorm adds Libertyville Savings Bank and PrimeRevenue as clients.
  • Prasac, the largest microfinance institution in Cambodia, launches mobile banking services courtesy of TranzWare from Compass Plus.
  • Cachet Financial Services partners with the Central Bank of Kansas City to roll out a reloadable prepaid card program.
  • OutsideIQ Brings Due Diligence Platform DDIQ to New International Markets
  • TSYS EVP and CIO Patricia Watson writes about the importance of strong enterprise architecture in fintech for CIO Review.

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.

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SumUp Announces Merger with Payleven

SumUp Announces Merger with Payleven
By David Penn Posted on
Categories: Mergers & Acquisitions, SumUp

SumUp_homepage_April2016

The merger between mPOS innovators SumUp and payleven announced this week will create a new giant in the industry that processes more than €1 billion a year in 15 countries.

Founder and CEO of SumUp Daniel Klein called the deal a “game-changer for the mobile payments industry” and a major move toward his vision of building the “first ever global card acceptance brand.” payleven co-founder Konstantin Wolff referred to SumUP and payleven as “two complimentary teams sharing the same vision” and said the merger would produce a company that is “larger and more powerful than the sum of its parts.” The combined entity will operate as SumUp.

SumUp_stage_FEU2013c

Pictured (left to right): Stefan Jeschonnek, CMO and co-founder, and Florian Richter, country manager, U.K., demonstrated SumUp at FinovateEurope 2013 in London.

SumUp’s proprietary end-to-end EMV technology, hardware terminal, and mobile apps enable merchants to accept both credit and debit card transactions with a smartphone or tablet. Certification with Europay, MasterCard, and Visa ensures a high level of payment security and has enabled the company to serve merchants in 15 countries such as Brazil, Sweden and, as of last October, the U.S. SumUp’s investors include American Express, BBVA Ventures, Groupon, Venture Incubator AG—all participants of the company’s most recent fundraising last August. Founded in August 2011 and headquartered in Dublin, Ireland, SumUp demonstrated its technology at FinovateEurope 2013.

payleven’s Bluetooth-powered card readers help SMEs process credit and debit card payments. Founded in 2012, the Berlin-based company raised more than $25 million in funding, including a $10 million Series D round in February.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, BBVA, blooom, BlueVine, Cartera Commerce, EdgeVerve Systems, Fiserv, Infosys, Insuritas, Kabbage, Klarna, Linqto, Malauzai, Roostify, Sezzle, Silver6, SumUp, Xero

On Finovate.com

  • “BlueVine Receives Boost from Citigroup”
  • “Infosys Launches EdgeVerve Blockchain Framework”

Around the web

  • “Cartera Commerce-powered Splender Doubles Membership Since End of 2015 and Drives $15 Million in Sales”
  • Linqto to pilot LEVERAGE App Store with nine credit unions.
  • Fiserv integrates commercial lending capabilities of AFSVision into its core account processing platform.
  • BBVA announces having 15.5 million digital clients, including more than 9 million mobile clients.
  • U.K. e-commerce provider EKM to team up with Klarna.
  • ACI Worldwide to run the card processing operations for The Co-operative Group.
  • Insuritas chosen by First Atlantic FCU to install insurance agency solution.
  • Employee Benefits News recognizes Blooom CPO Randy AufDerHeide as a Top 50 Benefit Technology Innovator.
  • Xero for Payroll goes live in Pennsylvania, making the technology available in a total of 22 states.

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.

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

Finovate’s European Alums Raised More Than $350 Million in 2015
By David Penn Posted on
Categories: AdviceGames, Aire, Azimo, Bitbond, CashSentinel, Currency Cloud, CurrencyFair, eToro, EZBOB, Fenergo, Figo, FreeAgent, Funding, Fundings, Kantox, Kreditech, Revolut, StockViews, SumUp, TransferWise, Xpenditure

Euros_purple

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.

GermanFlagGermany

 

Ireland_FlagIreland

 

Netherlands_FlagThe Netherlands

 

 

Switzerland_Flag

 

Switzerland

 

 

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.

 

 

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SumUp Brings its mPOS Technology to America

SumUp Brings its mPOS Technology to America
By David Penn Posted on
Categories: SumUp, VISA

SumUp_homepage_Oct2015

SumUp, a leading European mPOS (mobile point of sale) innovator, is launching in the United States.

And if you ask SumUp CEO Daniel Klein, the company has arrived just in time.

“We are here to help U.S. merchants and partners, such as cash register vendors, to transition quickly and securely to EMV, by making payments as easy as possible for their customers,” Klein said. He pointed out that SumUp is the “platform of choice for EMV transactions in 14 countries” serving tens of thousands of merchants.

SumUp_stage_FEU2013b

SumUp CMO and co-founder Stefan Jeschonnek demonstrated his company’s platform at FinovateEurope 2013 in London.

As part of its U.S. launch, SumUp will be unveiling a new EMV contactless card terminal, available for pre-order at $99. The new terminal is designed specifically for the U.S. market, enabling merchants to accept electronic and e-wallet, Apple Pay and Android Pay payments via NFC, as well as accept payments with EMV chip-cards. “The shift to EMV chip-cards puts more costly fraud liability on stores without chip terminals,” Klein added, “but only half of small businesses are even aware of EMV liability.”

SumUp provides end-to-end payment-processing solutions supported by its own proprietary EMV card terminals, and mobile apps. U.S. merchants using the technology will be able to accept Visa, MasterCard, and American Express payments. SumUp will charge a transaction fee of 2.75%. The company plans to announce strategic partnerships with “major U.S. companies” soon.

One company already partnered with SumUp is Visa, whose SVP for Innovation and Strategic Partnerships, Bill Gajda, praised SumUp’s “impact on the conversion of cash to electronic commerce” around the world. Gajda added that encouraging EMV adoption was also important. “We are focused on encouraging and supporting the adoption of EMV chip technology in the U.S. as quickly and efficiently as possible, so that everyone can realize the powerful security benefits that EMV chips provide,” he said.

Founded in 2011 and headquartered in Dublin, Ireland, SumUp demonstrated its platform at FinovateEurope 2013 in London. The company has more than $56 million in funding.

For more information about our upcoming FinovateEurope 2016 conference, visit our information page.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Alpha Payments Cloud, Credit Karma, Fiserv, iSignthis, Monitise, Plaid, SumUp, Top Image Systems, Trulioo, Zopa

On Finovate.com

  • “SumUp Brings its mPOS Technology to America”

Around the web

  • iSignthis and TikForce enter agreement for identity services.
  • Banks and merchants connected through Alpha Payments Cloud’s AlphaHub now have access to the iSignthis suite of services.
  • Functional Geekery interviews Plaid engineer David Chambers.
  • Power supplier ENEL to deploy TIS’s automated accounts payable and accounts receivables processing-solution across Russia.
  • TechCrunch Cribs features Credit Karma’s office.
  • Telefonica to work with Monitise in its transition to a cloud-based business.
  • Nigel Morris of QED Investors to join Zopa board of directors.
  • Fiserv launches wealth-management partnership with InvestEdge.
  • Trulioo, was named Top Innovator at the Integrate 2015 conference.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Aerospike, American Express, blooom, Insuritas, Klarna, Kony, On Deck Capital, Stratos, SumUp, Tradeshift

On Finovate.com

  • “Blooom Wins Grant from LaunchKC”
  • “FinDEVr San Francisco 2015 Presenters All Mapped Out“

Around the web

  • SumUp launches mobile payments service in Sweden.
  • Stratos launches EMV Chip Connected Payment Cards in Q4 2015.
  • Ferguson Federal, $57 million in assets, hires Insuritas to launch insurance agency.
  • Kony helps ORNL FCU deliver customized mobile app experiences to its members.
  • OnDeck partners with Association for Enterprise Opportunity to facilitate up to $10 million in small-business loans.
  • Tradeshift unveils new e-procurement solution, Tradeshift Buy.
  • Aerospike releases version 3.6 of its NoSQL operational database. See Aerospike’s presentation at FinDEVr next week.
  • TechCrunch: Klarna adds American Express as a partner. Come watch American Express’ presentation at FinDEVr.

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.

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SumUp Raises €10 Million in Round Led by BBVA Ventures, Groupon, American Express

SumUp Raises €10 Million in Round Led by BBVA Ventures, Groupon, American Express
By David Penn Posted on
Categories: Funding, SumUp

SumUp_homepage_Aug2015

Investments totaling €10 million from BBVA Ventures, Groupon, American Express and others have boosted mPOS specialist SumUp’s total capital to more than €50 million.

The infusion comes on the heels of a June investment from Venture Incubator AG, a Swiss venture-capital firm. The combined investments, SumUp CEO Daniel Klein said, makes SumUp “better equipped than ever to execute our vision of empowering small businesses all over the world by radically simplifying payments.”

Specifically, SumUp plans to put the capital to use by:

  • Expanding into two more countries in 2015, growing the company’s footprint to 15 countries on three continents.
  • Introducing a new contactless version of its end-to-end payment platform as well as “supporting the development of new services.”

SumUp_stage_FEU2013

From left: Stefan Jeschonnek, CMO and co-founder; Florian Richter, U.K. country manager, demonstrated SumUp at FinovateEurope 2013 in London.

Both development and new services have been on the agenda for SumUp in recent months. In May, SumUp released its Terminal Payment SDKs for iOS and Android and a suite of APIs that enabled third parties to connect to SumUp’s platform and terminals. According to the company, this made SumUp the “first truly open mPOS platform.” Also in May, SumUp expanded payment options for Swiss merchants by including payments from American Express.

SumUp’s technology enables merchants to accept credit and debit card payment via both smartphone and tablet. The solution relies on proprietary, end-to-end, EMV payment technology, a portable card reader, and an app available on both iOS and Android to enable small businesses to accept payments on-the-go. SumUp charges a flat 1.95% for both credit and debit transactions, and has no monthly fee.

SumUp demoed its cashless point-of-sale solution at FinovateEurope 2013 in London. The company was founded in August 2011 and is headquartered in Dublin, Ireland.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Adobe, Avoka, Betterment, CellTrust, DoubleNet Pay, Emailage, Flybits, FutureAdvisor, Markit, MaxMyInterest, Mint, Moven, PocketSmith, Socure, SumUp, Venmo, Wealthfront, Xignite, Yodlee

On Finovate.com

  • “SumUp Raises €10 Million in Round Led by BBVA Ventures, Groupon, American Express”

Around the web

  • In its fiscal year 2015, Avoka signs record number of clients and experiences 70% year-on-year bookings growth.
  • Yodlee is accepting applicants for its upcoming Ynext Incubator class.
  • Markit acquires FX trade-processing specialist DealHug. See Markit at FinDEVr 2015 in San Francisco in October.
  • Emailage opens European data center.
  • After BlackRock’s acquisition of FutureAdvisor, ThinkAdvisor considers the fate of Wealthfront and Betterment.
  • Forbes looks at Mint, MaxMyInterest, Moven, and Venom in a discussion on the connection between mobile, messaging, and financial services.
  • Mainstream features a quote from founder of DoubleNet Pay, CEO Brian Cosgray, on the impact of debt on new retirees.

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.

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