- Business Standard looks at the partnership between TradeHero and OANDA.
- P2Binvestor reaches $50 million invoices-funded milestone.
- Ripple Labs adds former State Department policy official, Anja Manuel, as advisor.
- peerTransfer picks Digital River to provide payment processing.
- Trustev Wins Most Disruptive Technology Award at SXSW.
- WattzOn to participate in Georgetown University Energy Prize competition to help communities reduce energy consumption.
- Toopher raises $200,000 of planned $300k financing round.
- Fifth Third Bank launches online money movement solution from CashEdge.
- Finovate Debuts: How Bitbond Leverages Bitcoin to Benefit Borrowers and Lenders.
- Madrid-based Banco Mare Nostrum implements MicroStrategy as its analytics standard to drive analysis and insight for its employees.
- American Banker features David Pinski’s move from a bank to a startup, Zumigo.
- Payment Week interviews Cardlytics on how big data is changing consumer engagement.
- American Banker: Ripple Labs hires Anja Manuel, a former U.S. State Department official, as company adviser.
- Ovum names Kony a leader, recognizes it for its comprehensive cloud-based mobile solution.
- ThreatMetrix enhances TrustDefender Mobile to help businesses meet new payment card industry data security standards.
- Spring and All: FinovateSpring 2015 Presenters Revealed!
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.
Just in time for the IPO of Chinese commerce giant, Alibaba, TradeHero has announced that its virtual stock market platform is now available for Chinese traders and investors, whether they prefer iOS or Android.
Although just announced this week, the Chinese version of TradeHero that runs on iOS allegedly has been available since April. The Android version, which can be downloaded from app store at Baidu and Tencent as well as at Google Play, is the more recent arrival. But there’s no denying that having Chinese versions for both platforms will go a long way toward helping spread adoption of the technology, with more than 400,000 users in more than 100 countries already on board.
TradeHero also announced
new features for Version 2.0, including expanded access to the trade details of other traders, changes in the way some features are paid for, and an improved user interface that puts a new emphasis on social sharing and networking.
A virtual trading community, TradeHero leverages mobile technology to provide real-time push notifications and gamification to model stock market trades and performance. Users of the platform can track top traders, who themselves can monetize their TradeHero experience by selling real-time alerts to others on the platform.
The app is free to download and use.
TradeHero is ranked the #1 finance app in 75 countries, and is in the top 10 of financial apps in 114 countries. Based in Singapore and founded in August 2012, the company demoed its virtual stock market platform at FinovateAsia 2012. See a video of the presentation here
Cheers to a new year! After ringing in 2014, we wanted take a look back at the capital raised by Finovate alumni in 2013. It was quite a year, with alums pulling in $825 million, $365 million more than in 2012 for an increase of about 80%.
2013 funding summary:
- 62 companies raised $825 million
- Q4 had the most capital, with a total of $294 million raised by 17 companies (more than half by Xero, which landed $150 million).
- October was the busiest month, with $177 million raised (mostly Xero’s $150 million)
- May was second highest with $91 million raised by 7 companies
Last year Finovate alums took in almost twice as much as 2012, when 44 Finovate alums collectively raised
$460 million. The chart below shows the quarter-by-quarter comparison for both years.
— blog post
More than $155 million raised by 14 companies
January — $57 million raised by 6 companies
February — $56 million raised by 5 companies
March — $42 million raised by 4 companies
— blog post
More than $205 million raised by 15 companies
June — $81.7 million raised by 6 companies
May — $91.5 million raised by 7 companies
April — $32 million raised by 2 companies
— blog post
More than $171 million raised by 22 companies
July — More than $63 million raised by 8 companies
August — More than $26 million raised by 6 companies
September — $82 million raised by 9 companies
More than $294 million raised by 17 companies
October— $177 raised by 6 companies
November — More than $87 million raised by 7 companies
December — More than $30 million raised by 6 companies
With the backing of Kleiner Perkins, Caufield Byers China fund, and IPV Capital, Singapore-based MyHero is now $10 million closer to reaching its goals of expanding into the Chinese market and growing its user base to more than 300,000.
Led by CEO and founder, Dinesh Bhatia, MyHero is the developer behind TradeHero. TradeHero, says Bhatia, is a “financial literacy tool” that lets users trade and invest virtual dollars in the stock market. Top performing traders and investors can monetize their talent by selling real-time market notifications through the app to their followers.
This combination of gamification and virtual trading community has earned the app a #1 spot in the financial category of the iOS App Store in 75 countries. The app is expected to be available in Android soon.
The $10 million in Series A funding is the company’s first major financing since a seed round put more than $450,000 in TradeHero’s coffers at the beginning of the year. The current infusion of capital is slated to help MyHero market TradeHero more aggressively over the next few years, as well as support a focus on China over the next three to six months. Bhatia cited successful testing of TradeHero’s mobile app in markets such as Hong Kong and Singapore as providing confidence that a move into China would be well-received.
about Asia-based Finovate alumni in our recent feature by Julie Schicktanz that explores the support startups like TradeHero have received from the venture capital community.
their mobile app as part of the inaugural FinovateAsia event in Singapore in 2012. Finovate will be returning to Singapore for FinovateAsia 2013 in November, and early bird tickets to the one-day show are available through October 4. For more information on FinovateAsia 2013, visit our page here