New “Paperless Coalition” Includes 3 Finovate Alums

New “Paperless Coalition” Includes 3 Finovate Alums
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With a battle cry of “save time, money and trees” the Paperless Coalition has launched its campaign to promote a paper-free workplace.

Among the members of the Paperless Coalition are three Finovate Alumni: Xero, Manilla and Expensify. The Coalition is led by HelloFax, and has set-up a website, paperless2013.org where businesses can “take the pledge” to work toward using less paper – and sign up for the coalition’s monthly newsletter.

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According to Reduce.org, the average office worker consumes more than 10,000 sheets of paper every day. More than three million tons of office paper are used in the United States alone every year.

Also participating in the Coalition is Google via Google Drive.

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To see Xero’s most recent Finovate demonstration, click here. Manilla’s last Finovate demo is here.  Expensify can be seen in action here.

2012 Funding for Finovate Alumni– More than $450 Million Raised

Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgHere is a list of all the funding Finovate alumni received over the course of 2012.  

After an impressive 2011, where more than $423 million was raised, 2012 was even better, with more than $450 raised.
A few stand-out metrics for the year:
  • A total of 44 companies received funding, some more than once in 2012
  • Combined, more than $450 million was raised
  • The best quarter for raising capital was the first quarter when more than $150 was raised
  • The biggest funding month this year was March, with more than $68 million raised by three companies
Here is a month-by-month breakdown of funding received.
January — $25 million raised by 3 companies
Currensee: $2 million — blog post
Finsphere: $11.3 million — blog post
HelloWallet: $12 million — blog post
February — $57 million raised by 5 companies
Capital Access Network: $30 million — blog post
Dwolla: $5 million — blog post
Jemstep: $6 million — blog post
Kabbage: undisclosed — blog post
Xero: $16.6 million — blog post
March — $68 million raised by 3 companies
Boku: $35 million — blog post
eToro: $15 million — blog post
ThreatMetrix: $18 million — blog post
April — $2.5 million raised by 1 company
miiCard: $2.5 million — blog post
May — $55.5 million raised by 5 companies
Kony: $15 million – blog post
Pindrop Security: $1 million — blog post
SecureKey: $30 million — blog post
SoMoLend: $1.17 million — blog post
Yodlee: $8.3 million — blog post
June — More than $62 million raised by 8 companies
Affinity Solutions: $14.5 million — blog post
Arroweye Solutions: $3 million — blog post
Cartera Commerce: $12.2 million — blog post
Credit Sesame: $12 million — blog post
Doughmain: undisclosed — blog post
Lending Club: $15 million — blog post
Nutmeg: $5.3 million — blog post
Planwise: $200,000 — blog post
July — $6 million raised by 2 companies
Continuity Control: $1 million — press release
SaveUp: $5 million — blog post
August — More than $49 million raised by 6 companies*
DemystData: undisclosed — blog post
FutureAdvisor: $5 million — blog post
FreeMonee: $34 million — blog post
The Currency Cloud: $3.1 million — blog post
CashStar: $5 million — blog post
Continuity Control: $2.25 million — blog post
September — More than $59 million raised by 5 companies
Banno: $2 million — press release
Betterment: $10 million — press release
Edo Interactive: $15 million — press release
Fuze Network: $2.5 million — press release
Kabbage: $30 million — blog post
October — $37 million raised by 2 companies
The Currency Cloud: $1.9 million — blog post
Braintree: $35 million — blog post
November — More than $23 raised by 4 com
panies
ActivePath: $10 million — blog post
Jingit: $7 million — blog post
Bazaarvoice: $6.7 million — blog post
Xero: $49 million — blog post
December — More than $16 million raised by 4 companies
Waspit: $3 million — blog post
Controlabill: $570,000 (A$600,000) — blog post
Zopa: undisclosed — blog post
ShopKeep POS: $10 million – blog post
Clover Networks: $3.3 million – blog post
*In addition to the companies listed for August, On Deck Capital raised $100 million in credit facility commitments.
Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? E-mail us at Julie@Finovate.com or David@Finovate.com.

Finovate Alumni News– December 10, 2012

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  • Xero’s new release includes new features: email templates, payments terms & outstanding statements.
  • Purchasing Insight blog features Taulia.
  • Financial Advisor Magazine considers EFL’s approach to determining risk in entrepreneurs.
  • Business Insider recommends using Enloop to help draft business plans.
  • Expensify gets a shout-out on NBC.
  • Intern Match blog suggests using planwise.
  • PC Mag recommends keeping Dashlane in your security toolkit.
  • Wipro announces launch of SmartOffers solution demoed at FinovateAsia.
  • Virtual Piggy enters into Partnership with WorldPay to further expand Virtual Piggy eCommerce service in the international marketplace.
  • Tyfone and IQT sign strategic investment and tech development deal.
  • Fenergo wins Best Customer Onboarding Solution award.
  • DeviceFidelity extends Good Vault identity and access management system to iPhones. 
  • Experian to help media giant Sky optimize customer prospect-marketing data.
  • Compass Plus earns high marks in annual PayX 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.

Finovate Alumni News– December 7, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgVentureBeat talks with PayPal’s Dan Schatt about its integration with Coinstar kiosks.
  • Philly.com interviews VirtualPiggy CEO, Dr. Jo Webber.
  • The Australian reports: Cloud computing firm Xero could give Reckon a run for its money.
  • Union State Bank of Fargo chooses Andera’s oFlows platform for online account opening and lending.
  • Credit Union Journal reports KBR Heritage FCU To Offer Geezeo.
  • AndKeepGoing.com reviews TradeKing.
  • Renaud Laplanche, Lending Club CEO, hints at IPO.
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.

Xero Raises $49 million from Peter Thiel-Backed Valar Ventures and Matrix Capital Management

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Cloud-based accounting platformXero announced last week a NZ$82 million (US$67 million) investment from the following two companies:

    • Matrix Capital Management: NZ$58 million (US$48 million)
    • Peter Thiel-backed Valar Ventures: NZ$24 million (US$19 million)

Of the total, NZ$60 mil (US$49 mil) was new money and another NZ$22 million (US$18 million) went to purchase shares from Xero’s three largest shareholders. The new investors purchased the shares in order to minimize dilution to existing shareholders.

To learn more about Xero, watch its FinovateSpring 2011 demo.

Finovate Alumni News– November 9, 2012

  • Billcom adds open APIs to banking platform.
  • Blackhawk Network Announces New Financial Service Products in Canada.
  • Startup Central looks at Heckyl, Clari5 and BankBazaar at FinovateAsia.
  • VentureBeat considers SecondMarket’s partnership with Angellist.
  • M.O. interviews Constancio Larguia, CEO & founder of Weemba.
  • SiliconBeat looks at Personal Capital’s 401(k) product.
  • Kabbage Becomes Exclusive Funding Provider for Bonanza Sellers.
  • American Banker reports: Bill.com Ties Cash-Flow Tools to Banks’ Small Business Software.
  • Finextra reports UBank gathers transaction data for spending comparison site.
  • ShopKeep POS announces entry into the quick serve market with full kitchen printing capabilities.
  • Mashable lists SimpleTuition, ReadyForZero, and Tuition.io as tools to help minimize student loan debt.
  • Capital Access Network moves Headquarters to NYC.
  • Crowdfund Insider reports SoMoLend Announces New York Expansion.
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– October 23, 2012

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  • Dwolla upgrades iPhone app and adds ability to pay money requests.
  • The Receivables Exchange appoints Henry Allen as New CEO.
  • SimpleTuition launches Private Student Loan Refinance Center.
  • Xero and Bill.com enable integration, ease transactions and cash management.
  • Now Plastyc’s UPside Visa customers can add cash to cards instantly at Walmart.
  • NFU Mutual automates paper processes with Tibco. Check out Tibco’s live demo at FinovateAsia.
  • Equifax selected byIRS as one of first eTranscript Pilot Vendors.
  • ModoPayments and Alliance Data partner to offer mobile solutions to retailers and U.S. Consumers.
  • Bill.com wins Sleeter ‘Awesome Application’ Award.
  • San Diego North County Times reports StockTwits: Howard Lindzon takes stock talk to new level.
  • Bridge2 Solutions and Affinity Solutions launch mobile app.
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– October 3, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgZoo names baby monkey after Kasasa.
  • Tradeshift announces interoperability agreement with OFS Portal.
  • VentureBeat profiles BellaDati. Come see BellaDati demo at FinovateAsia.
  • Deposit Accounts looks at Kasasa’s checking rewards.
  • Monitise teams up with eMerit Solutions to develop mobile payment opportunities for businesses.
  • ProfitStars introduces Gladiator Advanced Malware Protection.
  • miiCard opens API to First Global Trusted ID as a service platform.
  • Lending Club to use Oracle ERP cloud service.
  • VentureBeat reports Xero brings its accounting software to Android.
  • PYMNTS News reports: Compass Plus helps Quipu achieve 100% service availability.
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– August 31, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgReadWriteWeb seeks advice from Candace Klein, SoMoLend CEO, on winning startup competitions.
  • Dwolla wins Startup of the Year, CEO Ben Milne wins Startup Exec of the Year in Silicon Prairie Awards.
  • Xero Touch wins a Mobie Award at the 2012 Australian Mobile Awards.
  • PC World interviews Ping Identity CTO, Patrick Harding.
  • SimpleTuition lands $5 million from Horizon Technology Finance Corp.
  • On Deck lands $100 mil.
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– July 31, 2012

  • SecureKey named eastern Canada’s winner of contest hosted by UK Trade & Investment. See its live demo at FinovateFall in September.
  • American Banker reports Park State Bank clients now have access to MoneyDesktop’s PFM.
  • Kasasa accounts have brought $55 million in interest to over 306k account holders at credit unions and community banks nationwide.
  • SecureKey wins one of three inaugural Secure Development Awards from Veracode.
  • Mashable reports StockTwits CEO ‘Disappointed’ With Twitter’s Cashtags.
  • Lending Club appoints former Visa & Morgan Stanley Executive, John MacIlwaine as new CTO.
  • Small Business Trends reports Xero makes changes to improve cloud-based accounting software.
  • Check Point Software launches new appliances for Sri Lanka.
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– July 30, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgVirtual Piggy integrates its youth payment system into Arbor Collective’s ecommerce operations.
  • AcceptEmail featured in The E-invoicing Market Guide 2012.
  • BOKU receives A+Trust rating from the Better Business Bureau.
  • Barnard College partners with peerTransfer to streamline international education payments.
  • Simple begins on-boarding customers, loses CTO Alex Payne.
  • Xero reaches 100k paying customers, discloses additional metrics.
  • Tinkoff Credit Systems launches new online banking on Backbase.
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.

Xero Reaches 100k Paying Customers, Discloses Additional Metrics

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New Zealand-based cloud accounting software company, Xero, recently held its annual meeting where it released some interesting metrics and announced it has reached 100k paying customers.

Here’s a summary of what it disclosed:

    • While it took 5 years to reach its first 50k paying customers, it took only 10 months to acquire the second 50k paying customers
    • Its annualized committed monthly revenue had increased to $34.5 million, up from $25.5 million at the end of March 2012
    • It is considering a dual listing on the Australian Security Exchange (ASX) to facilitate Australian shares purchasing

To learn more about Xero, watch its FinovateSpring 2011 demo.