Finovate Alumni News

On Finovate.com

  • Tink Receives $16.5 Million in Funding, Announces Expansion, New Clients.
  • BLUERUSH Raises $1.3 Million in New Funding.

Around the web:

  • Blackhawk Network appoints Charles O. Garner as Chief Financial Officer.
  • Tavant enabling digital mortgage experience for goodmortgage.com.
  • TechCrunch: TransferWise changes fees for GBP transfers, introduces complicated flat transaction fees.
  • Chain.com announces a new service called Sequence, a cloud-based ledger service for managing balances in financial and commerce apps.
  • Fidor partners with Eight to jointly design the customer experience for Fidor’s  financial services marketplace.
  • Temenos and Abu Dhabi Global Market announce fintech collaboration.

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.

44 Alums Populate CB Insights’ Fintech 250 List

44 Alums Populate CB Insights’ Fintech 250 List

This week, CB Insights unveiled its Fintech 250 list. The research outfit selected 250 emerging, private companies in 17 sub-sectors of fintech that are changing the face of financial services. The roster includes 44 Finovate and FinDEVr alums that were selected using CB Insights’ data-driven process that analyzes company momentum, market participation, funds raised, and investor quality.

The list is in alphabetical order.

Algomi

AutoGravity

Avalara

Behalf

Betterment

Blend

Chain

Coinbase

Credit Karma

Currencycloud

CurrencyFair

Fenergo

Financeit

Gusto (formerly ZenPayroll)

Juvo

Kabbage

Kensho

Kreditech

Klarna

LendUp

Moneytree

PayNearMe

Payoneer

Personal Capital

Plaid

Quantopian

Quovo

Revolut

Ripple Labs

Roostify

Signifyd

SocietyOne

Socure

Tink

Token

Tradeshift

Transferwise

TrueAccord

Trulioo

VATBox

Wealthfront

Xignite

Zooz

Zopa

Finovate Alumni News

On Finovate.com

  • BioCatch Teams Up with Nuance Communications.

Around the web

  • Worldcore Payment Institution teams up with BioID and presents face recognition authentication at FinovateEurope 2017.
  • Standard Chartered launches banking API portal.
  • Tink now helps banks empower their customers to take control over their finances by leveraging the Tink platform.
  • NetGuardians joins Swiss academic institute HEIG-VD to develop fraud-seeking AI tools.
  • BioCatch brings continuous online and mobile authentication to Nuance Communications’ Security Suite solution.
  • Wealth Wizards launches New mobile version of Pension Wizard.
  • Virtual Piggy launches beta test of its mobile payment platform for children under 17.
  • iSignthis enters agreement to provide KYC services to Calforex and GoInterpay.
  • The Beast Apps joins Symphony Software Foundation.

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.

FinovateEurope 2017 Best of Show Winners Announced

FinovateEurope 2017 Best of Show Winners Announced

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After two days of live demonstrations of some of the most novel innovations in fintech, our FinovateEurope audience has made its voice heard as to which technologies represent the Best of Show.

This year’s award winners are a fascinating mix of Finovate veterans like Backbase, eToro, SaleMove, and Tink, all of whom have been honored with Best of Show trophies in the past, as well as newcomers like Dorsum and Memento, which accompanied their Finovate debuts with Best of Show awards of their own. And how fun is it to celebrate a company like CREALOGIX, a Finovate alum since 2011, that picked up its very first Best of Show honors this week?

A hearty congratulations to all seven of FinovateEurope 2017’s Best of Show winners – and to all of the companies that demonstrated their technologies at our London conference this year. From artificial intelligence and chatbots to technologies that make it easier for us to earn, save, and invest, yours are the innovations that remind us how valuable the relationship between finance and technology can be.

Backbase---Hi-ResBackbase for showing how artificial intelligence and PSD2 can turn a mobile app into a smart virtual assistant.

CREALOGIXCREALOGIX for its predictive banking in virtual reality technology that transcends complex interfaces to provide a user experience that accommodates emotion, creativity, and logic when it comes to making financial decisions.

Dorsum_logo_2016_cmykDorsum for its chatbot factory and botboarding platform that creates chatbots that combine human-like, natural language communication with traditional customer data collection and profiling.

eToro_Logo_VectoreToro for its worldwide social trading network of more than five million members that makes the trading and investing environment more social, more enjoyable, and more transparent.

 

Memento-LogoMemento for its Bank-to-Social Relationship platform and next generation mobile money app that helps banks deepen engagement with current customers and better attract and acquire new customers, as well.

SaleMoveSaleMove for its Engagement Platform that enables FIs and other companies to communicate with online visitors via chat and dual-cursor guided cobrowsing, as well as video and voice.

Tink_LogoTink for its independent, consumer PFM app that brings together aggregation, account information, and payment initiation services to provide a truly PSD2-compliant, virtual bank experience.

We had a great time this year at FinovateEurope and hope you enjoyed getting to know our presenting companies and the unique ways they leverage technology to solve problems. Thanks and gratitude to all of our sponsors, partners, presenters, and – of course – our attendees, for making this celebration of financial technology possible. We’ll see you next year!


Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The six companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 and 2016 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016

H2 Ventures and KPMG Unveil 2016 Fintech 100

H2 Ventures and KPMG Unveil 2016 Fintech 100

h2_kpmg_2016fintech100

H2 Ventures and KPMG have released their Fintech 100 roster for 2016. Divided equally between 50 “industry leaders” and 50 “emerging stars,” the roster features 17 Finovate/FinDEVr alums in the first category, and 10 in the second. Calling its roster a “celebration” of the most compelling innovators in this “bold new space,” the H2 Ventures/KPMG 2016 Fintech 100 covers a variety of different shades of fintech:

  • Lending (32 companies)
  • Payments (18 companies)
  • Insurance (12 companies)
  • RegTech (9 companies)
  • Data & analytics (7 companies)
  • Wealth management (6 companies)
  • Blockchain (5 companies)
  • Digital currency (5 companies)
  • Capital markets (3 companies)
  • Crowdfunding (2 companies)
  • Accounting (1 company)

And here is a look at how Finovate/FinDEVr alums fared. Earning recognition among the companies in the Leading 50 group are:

Also noteworthy in the Leading 50 are Ant Financial, which acquired Best of Show-winning EyeVerify in September 2016, and Avant, which acquired Finovate alum ReadyForZero in the spring of 2015.

Additionally, Finovate/FinDEVr alums earning spots in the Fintech 100’s 50 Emerging Stars roster were:

The H2 Ventures/KPMG report includes a geographic breakdown of the 2016 Fintech 100, as well as a set of key takeaways such as increased geographic diversification, the return of lending, the continued ascent of Insurtech, and the appearance of RegTech. The report also notes that China now has four out of the top five companies in the report’s top 10, and eight companies in the top 50. The report says funding for fintech “continues to rise,” and its authors cite more than $14 billion in capital was raised by the Fintech 100 in the past year.

Tink Pulls in $10 Million to Launch Virtual Bank

Tink Pulls in $10 Million to Launch Virtual Bank

TinkHomepage2016

The creators of Swedish PFM app Tink, Daniel Kjellén and Fredrik Hedberg (pictured below), have just closed on $10 million to launch a virtual bank. The Series B roundDaniel och Fredrik_Tink was led by Creades and SEB; ABN AMRO and Sunstone Capital also contributed. Combined with its Series A round in 2014, the company’s total funding is $14 million.

Tink will use the funds to expand internationally and launch a virtual bank, Tink 2.0. The virtual bank will allow users to transfer money, make payments, scan and approve bills, and manage their money across any account directly from within the Tink app. These new capabilities are made possible by Europe’s new Payment Service Directive (PSD2), approved in January, that opens Europe’s banking infrastructure by making their APIs available to third parties.

Fredrik Hedberg, founder and CTO of Tink, comments on the coming launch: “Ultimately, it’s about building a virtual bank, helping people with banking without being a bank. The consumer will not only get a better understanding, tips and advice on her finances, but also the ability to take action on it.” Founder and CEO Daniel Kjellén chimes says, “We think it should be easy to make smart financial decisions, and we want to contribute to a greater transparency in the industry, which will benefit both the consumer and the best banks. To get investors with such solid experience and the ability to develop partnerships with traditional banks is of course a huge asset for a company like Tink.”

TinkApp2

Tink differentiates itself in the PFM space by collecting two years of historical account data across all of a user’s bank accounts and payment cards. The company uses hands-off spending categorization and simplifies the user’s view of their income and expenses. The app suggests budget options, sends alerts, and offers a feed of the user’s own personal finance highlights.

Since launching the app in Sweden at FinovateEurope 2014, Tink now boasts more than 300,000 users and is currently running beta tests in 10 different European markets to prepare for the international launch later this year.

Finovate Alumni News

On Finovate.com

  • “Tink Pulls in $10 Million to Launch Virtual Bank”
  • “TSYS to Leverage Featurespace’s Machine Learning Fraud Capabilities”
  • “Narrative Science Teams Up with Vermilion, Bringing Advanced NLG to Portfolio Commentary”
  • “New Investment for Personal Capital Takes Valuation to $500 Million”
  • “Zopa to Offer Auto Loan Refinancing”

Around the web

  • TIBCO introduces integration-software solution, Project Flogo and translytical database for big data, TIBCO Graph Database.
  • InFakt accounting system integrates with Valuto open API.
  • Micronotes launches downloadable trial version of Micronotes Cross-Sell Basic.
  • eToro appoints Robert Brown as new non-executive director in the U.K.
  • Socure expands coverage for global watchlist filtering and sanctions compliance.
  • Philippine-based credit union groups to build payments and banking platform based on technology from Temenos.
  • Robotic automation technology from NICE Systems helps prevent credit card fraud at Italian bank, Banca Popolare di Sondrio.
  • Finovate newcomer Student Loan Genius adds Honest Dollar co-founder Henry Yoshida as vice president of partnerships and product strategy.

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.

Tink to Test PFM App with 10,000 ABN AMRO Customers

Tink to Test PFM App with 10,000 ABN AMRO Customers

TinkHomepage

Fresh off the announcement of the FinovateEurope 2016 lineup, we have big news from Swedish alum Tink which has partnered with ABN AMRO, a large Dutch bank widely considered digitally progressive.

As a part of the partnership, ABN AMRO has worked with Tink to launch Grip, a budgeting and expense-management app that aims to help users control their spending.

Starting today, a select 10,000 ABN AMRO customers will pilot the iOS app, offering feedback on how developers can tweak the platform. If the pilot is successful, Grip will be released to the bank’s 4.5 million customers.

Tink’s direct-to-consumer PFM app launched in 2012 and boasts 300,000 iOS and Android users in the Swedish market.

The company was listed in the Fintech 50 earlier this year and won Best of Show for its demo at FinovateEurope 2014. Check out its award-winning presentation.

Finovate Alumni News

On Finovate.com

  • “Tink to Test PFM App with 10,000 ABN AMRO Customers”
  • “Bizfi Closes on $65 Million in Debt Financing”
  • “Nous Closes In On £350,000 Fundraising Goal” [Update: Nous Exceeds Original Goal, Raises $750,000].

Around the web

  • “TIS Closes 550,000 Euro Deal with Leading German Health Insurance Provider”
  • Trustly partners with payment solution iDEAL in the Netherlands.
  • TechCrunch looks at OnDeck and the future of alt-lending.
  • USA Today features how Simple is a different type of bank.
  • TechCrunch considers how TransferWise is a better way to send remittances.

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.

Finovate Alumni News

On Finovate.com

  • Rippleshot Raises $1.2 Million in Round Led by KGC Capital”
  • SocietyOne Offering Car Loans to Uber Drivers in Australia”

Around the web

  • Xero adds two-step authentication to its accounting platform.
  • CAN Capital teams up with iPayment to help SMEs get access to working capital.
  • Let’s Talk Payments features Klarna, Holvi, BehavioSec, Trustly, Meniga, and Tink in a roundup of top Nordic fintech startups. Remember FinovateEurope 2016 comes to London on February 9 and 10.
  • Check Point Names Julie Parrish as Chief Marketing Officer”
  • MyBankTracker names Mint, SmartyPig, Lending Club, Coinbase, and Loyal3 on its list of companies every millennial should know about.
  • ayondo CEO Robert Lempka Explains Innovative Trading Solutions Live on CNBC Asia”
  • TechCrunch looks at TransferWise’s growth.
  • PaymentEye interviews Daniel Abrahams, CEO and co-founder of CurrencyTransfer.com.
  • Bankless Times talks with Encap Security CEO Thomas Bostrøm Jørgensen on current trends in authentication technology.

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 Populate the FinTech50

Looking for the most innovative startups in fintech? The FinTech50 is a great place to start.

FinTech50_homepage.jpg
It also turns out to be a great place to find Finovate alums. Of the 50 companies recognized by FinTechCity’s panels of judges as being “game-changers transforming the future of finance,” nearly half are alumni of Finovate conferences – including our upcoming event in London.
Here is the list of alums in alphabetical order:
According to Chris Skinner, who was one of the panelists, more than 700 companies competed for spots in the FinTech50. The selection panel included veterans of finance and technology from companies ranging from American Express and Google to Silicon Valley Bank and UBS. The FinTech50 winners were announced at an invitation-only event in London.
Speaking of London, Five Degrees, InvoiceSharing, Ixaris, mBank, and Trunomi will be in town next month, demonstrating their latest solutions at FinovateEurope 2015, February 10 and 11. More information on the event available here.

Tink Raises $4 Million in Series A Round

Tink Raises $4 Million in Series A Round

Thumbnail image for Thumbnail image for TinkLogo.jpg

In a round led by Sunstone Capital, Swedish personal finance management innovator Tink raised $4 million in new funding. 

The capital will help fuel the company’s expansion internationally, as well as help grow the team and continue product development.

Also participating in the round was entrepreneur Sven Hagströmer, along with additional existing investors. The investment brings the company’s total capital to $4.8 million.

tinkHomepage
The investment also brings Christian Lindegård Jepsen, Sunstone Capital general partner and co-founder, to Tink’s board of directors, Jepsen specifically referenced the “beautiful UI” of Tink’s PFM app, as well as the degree of automation, which he said would help speed adoption.
Tink CEO and founder Daniel Kjellén echoed this point, saying “the fact that Tink is fully automated and everything is presented in a feed format makes it useful even if you only have two minutes to spare.”
iPhoneTink
Tink has more than 200,000 users, with the average “Tinker” being a 23 year old female who uses the app two to three times a week, according to the company. The app is available for both iOS and Android.
Based in Stockholm, Sweden, Tink demoed its technology at FinovateEurope 2014 in London, where it won Best of Show. See the company in action here.