2015: A Year in Finovate Alumni Mergers and Acquisitions

Handshake_graphic

2015 was another big year for mergers and acquisitions in the fintech industry. And whether they were the acquirer or the acquired, Finovate alums were very much a part of the M&A action.

Because terms of many deals were undisclosed, it is difficult to get a precise number on how much money was spent acquiring some of fintech’s most promising startups this year. But looking just at those acquisitions for which figures were available, we can see that 2015 was a banner year in M&A (more than $7 billion) — and that’s just counting alums.

So from the $5 billion deal between FIS and Sungard to the “alum-acquires-alum” mergers of September 2015, let’s take a closer look at some of the major unions of the year that featured Finovate alums.


December


October


September


August


July


May


April


March


February


January


If you’re a Finovate alum whose merger we’ve missed or acquisition we’ve overlooked, let us know. Send us an email at research@finovate.com.

Banking Suite Provider Urban FT Acquires Wipit

UrbanFTHomepage

Urban FT, a startup that offers card issuers a digital banking suite that includes cards, a mobile app, and web interface, wants to give small card issuers a leg up on the competition.

WipitHomepageToday, the company has taken a step in achieving that goal by acquiring digital wallet solutions company, Wipit.

Urban FT states that the Wipit acquisition will help provide a more comprehensive solution-set. The New York-based company is especially keen to tap into Wipit’s telco partnerships with Boost Mobile, Sprint, and Pinsight Media.

To leverage the Wipit team’s experience, Urban FT has hired the California-based company’s key employees.

Urban FT will present its latest offering at FinovateFall in New York in two weeks. Tickets are still available, but going fast.

Wipit last demoed at FinovateSpring 2014 in San Jose where it showed off its Boost Mobile Wallet.

Finovate Alumni News

On Finovate.com

  • “Banking Suite Provider Urban FT Acquires Wipit” Come see Urban FT at FinovateFall September 16 & 17.

Around the web

  • Niklas Adalberth steps down as Klarna’s deputy CEO.
  • ShopKeep to offer discounts to members of the MasterCard Easy Savings program.
  • Yodlee partners with Salesforce to offer advisers a comprehensive view of their clients’ financial accounts. Come see Yodlee’s presentation at FinDEVr, 6/7 October.
  • Monex to incorporate corporate-actions data from Markit. See Markit at FinDEVr 2015 in San Francisco.
  • Bank Innovation takes note of the Moven approach to displaying transaction histories.
  • Tech Vibes features Trulioo in a look at Vancouver, British Columbia, as a home for fintech innovation. See Trulioo at FinovateFall 2015 in New York.
  • Investment News looks for the next robo-adviser acquisition in the wake of BlackRock’s deal with FutureAdvisor.
  • Waters Technology highlights Nous, StockViews, AnalytixInsight, and Xignite in a review of how innovators are using market data. See Xignite at FinDEVr 2015 in San Francisco.
  • Flint enhances Android app to include immediate electronic receipts via SMS.

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.

Alumni News– January 19, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgWordline extends partnership with Kalixa.
  • Misys signs deal with fixed income data and cash flow model specialist, Intex.
  • defiSolutions unveils ESSENTIAL LOS automated application processing solution.
  • Benzinga looks at how LikeFolio helps investors spot trends in stocks.
  • Engineering and Technology Magazine features biometric authenticators EyeVerify, Bionym, and BioCatch.
  • Wipit Named Winner in Ninth Annual Paybefore Awards.
  • Banking Tech features how RBS subsidiary, Ulster Bank, is holding a hackathon with Open Bank Project.
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.

Alumni News– December 4, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgIntelligent Environments awarded Fairbanking certification. See Intelligent Environments demo at FinovateEurope 2015 in February.
  • Xsolla partners with BitPay to bring bitcoin payments to gaming. See Xsolla at FinovateEurope in London.
  • MasterCard partners with Gates Foundation to launch innovation lab in Nairobi, Kenya.
  • App Annie unveils Audience Intelligence, a solution mobile app publishers can use to learn demographic data from users.
  • Access Development partners with Oklahoma Education Association.
  • Yueyu Fu, co-founder and CPO at Rippleshot interviewed at Benzinga Fintech Awards.
  • Intuit’s Quickbook Online Accountant is now available in the U.S.
  • Ripple to plug its real-time settlement protocol into Earthport’s payments hub.
  • Braintree is now rolling out its One Touch payment service outside the U.S.
  • eGift Card feature added to Wipit-powered Boost Mobile.
  • SocietyOne Closes Undisclosed Series B Funding 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.

Alumni News– August 11, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMisys announces acquisition of Custom Credit Systems.
  • Wipit brings omni-payment functionality to its prepaid cash mobile wallet.
  • LendUp partners with MoneyGram to enable real-time offline loan repay.
  • Barclays Pingit adds eGift options through Blackhawk Network partnership.
  • WSJ reports how Wealthfront, Betterment, Future Advisor, Personal Capital, and Motif are changing the investment landscape.
  • Wired UK Magazine lists BehavioSec as one of Euorpe’s hottest startups. See BehavioSec at FinDEVr this September 30 through October 1.
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.

Wipit Brings Omni-Payment Functionality to its Prepaid Cash Mobile Wallet

Thumbnail image for wipitLogo.jpg

Wipit’s mobile wallet just got even handier.

The company unveiled this week omni-channel payment technology that will enable Wipit mobile wallet customers to use their prepaid cash mobile wallets to make payments at the retail point-of-sale, as well as online.

Wipit CEO Richard Kang said, “Omni-payments is a natural extension of our mobile wallet and will allow merchants to provide more options and better payment experiences to their customers.”
Wipit_homepage
The new features expand the range of payment choices for consumers using Wipit’s network, which includes a branded GPR (general purpose reload able) card and in-app services. Brick and mortar retailers benefit from the wallet’s POS payment feature. Online merchants can take payments from consumers who may be unable to make digital payments through other means (for example, credit cards). There is also the advantage of merchants of avoiding interchange fees when transacting via Wipit.
The technology is designed to be easy to implement. Merchants have the option to deploy point-of-sale payment features via closed-loop payment cards, in-app barcodes, or NFC.
Wipit was founded in 2010, and is headquartered in Pasadena, California. The company demoed its Boost Mobile Wallet at FinovateSpring 2014. See Wipit’s live demo here.

Alumni News– June 24, 2014

  • Finovate-F-Logo.jpgAmerican Banker looks at Wipit’s partnership with prepaid mobile wallet, Boost Mobile.
  • Iceland’s Acquiring Bank, Borgun, launches mPOS solution powered by Handpoint.
  • e27 examines TradeHero’s mobile app.
  • San Francisco Business Times: Taulia taps Fortune 500 to finance small businesses.
  • Geezeo announces partnership with Payveris.
  • Seasons FCU (18k members; $140 million assets) to deploy Verde International’s Corona, Aurora solutions for loan decisioning.
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.

Wipit’s Boost Mobile Gives Underbanked Users an Easy Alternative to Retail Check Cashing

WipitLogo

This post is part of our live coverage of FinovateSpring 2014.

Next, Wipit took the stage to demo Boost Mobile Wallet:
“Boost Mobile Wallet lets millions of prepaid wireless customers load cash to their mobile wallet account, then use the funds to send international money transfers, pay bills, or top-up their Boost Mobile phone − all from the convenience of Wipit’s Mobile Wallet app on their Android smartphone or iPhone. 
Customers are also provided with a convenient, cost-saving alternative to retail check cashing via Wipit’s in-app Quick Check service. For customers that prefer the convenience of card payments, Boost Mobile Wallet includes a personalized, linked Visa prepaid card that can be used for ATM withdrawals and Visa purchases.”
Presenters: Richard Kang (CEO) and John Janes (COO)
Product distribution strategy: Direct to Consumer (B2C), through other fintech companies and platforms
HQ: Pasadena, CA
Founded: May 2010
Product Launch: May 2013  
Website: wipit.me 

Finovate Alumni News– April 10, 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.jpgBoost Mobile waiving check loading, money transfer fees for its Wipit-powered mobile wallet through September.
  • Banno CEO Wade Arnold wins CEO of the Year award from Technology Association of Iowa.
  • CBS News takes a look at Dynamics‘ “credit card with a keypad.”
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.