Finovate Alumni News– May 29, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgChina Loves Mambu: Microfinance Network Picks Cloud Banking Platform for SME Lending.
  • App Annie Acquires Distimo; raises $17 Million from Current Investors.
  • SumUp launches its own chip and PIN reader, PIN+, in Poland and Switzerland.
  • Credit Sesame launches mortgage rate marketplace.
  • DemystData brings in $5 Million for its Big Data API for financial institutions.
  • NHS Shared Business Services selects Tradeshift platform to enhance supply chain.
  • Actiance announces general availability of Alcatraz, a cloud-based, Context-Aware archive for email, social, and other communications.
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 Raise $600 Million in First Quarter of 2014

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Want some context on the torrid pace of fintech financing in the first three months of 2014?

Consider this: a year ago, fourteen Finovate alums raised a total of more than $150 million in the first quarter of 2013.

A year later, we have just nine alums raising more than twice as much in the month of March alone.

March Madness, indeed.
Q1 of 2014 saw 23 Finovate alums walk away with just under $600 million in capital. The biggest haul of the quarter came courtesy of Klarna, which raised more than $125 million. 
But there were plenty of similarly impressive fundraisings, including the $85 million raised by Credit Karma, and the $77 million and $75 million secured by OnDeck and Tradeshift, respectively.
Total raised = More than $592 million
January — $91 million raised by seven companies
February — $139 million raised by seven companies
March — $362 million raised by nine companies

Note: Funding prior to becoming a Finovate alum not included. Questions? Comments? Email us at David@finovate.com or Julie@finovate.com

Finovate Alumni News– April 2, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBottomline Technologies buys Andera for $48 million.
  • Marketing Land takes a look at Narrative Science’s free, Google Analytics app, Quill Engage.
  • Saudi Arabian Bank Albilad to deploy FIS’ card management system and switching platform.
  • TradeKing promotes Kevin Delo to Chief Information Officer.
  • Startups.co.uk interviews Tradeshift CEO, Christian Lanng.
  • Atlanta Business Chronicle looks at Pindrop Security’s growth: doubling its workforce and has quadrupled its workspace.
  • Check Point Software Technologies launches new ZoneAlarm 2015 security product line.
  • Finovate alums raise $600 million in first quarter of 2014.
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– March 18, 2014

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  • Fiserv to adopt Visa’s debit EMV solution to offer issuers, acquirers and merchants an approach for debit EMV adoption.
  • Tyfone appoints former UBS managing director Nizar Jamal as Chief Technology Officer.
  • PaymentsSource: Virtual Piggy’s Oink partners with European Games Group.
  • App Shopper features BudgetTracker’s iOS mobile app.
  • Realty Mogul crowdfunders top $100 million worth of real estate investment.
  • VentureBeat takes a look at mobile payment success stories including PaySimple, Braintree, and PayPal.
  • TD Bank enhances online money movement services with addition of Popmoney and TransferNow from Fiserv.
  • DoubleBeam powers new mobile app for Foodland Super Market.
  • Nostrum Group reports revenue gains of more than 80% to £7 million. for FY 2013.
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 — March 5, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMargin Maximizer Interactive from ProfitStars added to ICBA Preferred Service Provider program.
  • Trustev partners with Datameer to combine big data analytics with its real-time ID validation technology.
  • Ignite Sales announces availability of AccountAdvisor sales solution for community banks and credit unions.
  • Spend Matters looks at Scentan Ventures, the Firm Behind Tradeshift’s $75M Round.
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– February 27, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMountain America CU chooses ProfitStarsImageCenter and Enterprise Payment Solutions.
  • TSYS renews payments agreement with Commerce Bank.
  • ProfitStars announces partnership with OnDeck to deploy LendingNetwork platform.
  • Wealthfront’s automated investment advisory service goes mobile with new app.
  • Arroweye’s 2013 performance reveals 25% growth & 60%+ increase in open loop card fulfillment compared to 2012.
  • SpendMatters covers Tradeshift’s and Taulia’s divergent yet converging cases and value propositions.
  • Tradeshift raises $75 million, plans to open office in Tokyo.
  • Andera upgrades software to enable mobile applicants take photos of their driver’s licenses during the application process to populate data fields automatically.
  • Kabbage now extending more than $1 million per day in funding to small businesses.
  • Kony and AirPlug partner to deliver enterprise-grade mobile solution to mobile network operators.
  • CashStar wins Digiday Retail Award for achievement in online retail marketing and advertising.
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.

Tradeshift Raises $75 Million, Plans to Open Office in Tokyo

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Further enforcing the trend of small business tools in fintech, online invoicing company Tradeshift announced a $75 million round of funding.

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The new installment comes from Singapore-based Scentan Ventures, which Tradeshift now claims as a partner.

The San Francisco-based company has global offices in Copenhagen, London, and Suzhou and plans to use the funds to expand to Asia and open an office in Tokyo. This is a large step in its stated mission of “connecting every business on the planet.”

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Tradeshift, which counts 500,000 businesses connected on its platform, differentiates itself with a dynamic discounting service that gives buyers a discount for paying their suppliers early.

Tradeshift demoed at FinovateEurope 2012. Watch its demo video here.

Finovate Alumni News– January 17, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAcculynk announces patent for PIN based, online authentication.
  • St. Louis Business Journal takes a look at miiCard’s chances at winning the FStech Award for “most disruptive financial services technology.”
  • Kapitall launches bonus program; $200 and 2,000 koins for new accounts.
  • The Financial Brand features Strategy CorpsBaZing.
  • Management Today interviews with Christian Laang, Tradeshift CEO.
  • CNBC highlights FutureAdvisor and how it can help you save on fees.
  • Kofax today announces availability of the Kofax Mobile Capture Platform.
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 Raise $825 Million in 2013, Up 79%

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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
2012 comparison
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.
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Quarter 1 — 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


Quarter 2 — 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

Quarter 3 — 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
Quarter 4
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

Note: Funding that companies received before they first appeared at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

Finovate Alumni News– December 19, 2013

  • Finovate-F-Logo.jpgThe Chicago Tribune lists Planwise, SigFig, Jemstep and FindaBetterBank as tools to fix your finances.
  • peerTransfer announces record setting 2013, bringing total customer base to 400 institutions.
  • Tradeshift brings in $15 million of a $57 million equity round.
  • Trustev brings in $500k from Notion Capital, Adding to the $3 Million it Garnered in October.
  • Business2Community features PaySimple.
  • Allied Payment Network teaming up with ACI Worldwide to provide same day bill pay via PicturePay.
  • Klarna acquires Sofort to become 10% of Europe’s $100 billion e-commerce market.
  • Les Muma, former Fiserv CEO, to join board of directors of FIS.
  • UAE’s Bank of Sharjah to offer CR2’s BankWorld-powered mobile banking app.
  • ayondo announces new features including open positions in profile view.
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.

Tradeshift Brings in $15 Million of a $57 Million Equity Round

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Electronic invoicing solutions company, Tradeshift, announced it recently brought in $15 million in equity funding.

This round is the first installment of a $57 million round. According to the San Francisco-based company this equity sale is, “part of something much bigger,” though it did not provide further detail.

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Tradeshift demonstrated at FinovateEurope 2013 in London where it debuted its Instant Payments feature.

Finovate Alumni News– December 13, 2013

  • Finovate-F-Logo.jpgBlackhawk Network partners with Opengate to Launch New Prepaid Content in South Africa.
  • Tradeshift unveils Oracle Gold partnership & supply chain connectivity solution for the Oracle E-Business Suite.
  • MasterCard launches recruitment drive for e-commerce tech lab in New York City.
  • EyeVerify featured in KCUR.org column on the “benefits and disadvantages of launching a startup in Kansas City.”
  • New MoneyDesktop Website Wins Multiple W3 Awards.
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.