Alumni News– August 13, 2014

  • Finovate-F-Logo.jpgNetbanker features 2012- 2013 fintech graduates from Y Combinator:  TrueLink Financial, Coinbase, and LendUp.
  • Netbanker features 2009- 2012 fintech graduates from Y Combinator: ZenPayroll, SmartAsset, TrustEgg, FutureAdvisor, ReadyForZero, and WePay.
  • American Banker considers how Diebold is leading the way on the branch of the future.
  • peerTransfer surpasses 500 clients, while processing over $1 billion in international payments.
  • Heartland Payment Systems buys out remaining shareholders of tablet software and hardware startup, Leaf.
  • ACI Worldwide announces completion of ReD acquisition.
  • Lending Club mentioned in HBR Blog’s look at how new lending technology can help small businesses.
  • Silanis Technology partners with loan management software specialist Calyx Software. See Silanis at FinovateFall 2014 in September.
  • planwise teams up with Informa Research Services to launch plug-and-play search tool of real estate agents and brokerages.
  • NextAdvisor column in HuffPo highlights LendUp as alternative loan option for the underbanked.
  • Pandai announces joint cooperation with China and Hollard to leverage their experience in the loan insurance market.
  • Xero and Square partner to sync Square transactions and give a business a view of their finances. See Xero present at FinDEVr. 
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– July 7, 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.jpgAmerican Banker features Tradeshift in a column on startups innovating in the small business bill pay space.
  • Credit Union Broadcast interviews Greg Ewald, VP of Marketing for Loop.
  • Zighra partners with Toyuma to launch a Kickstarter project to launch PassZweipe, a password manager app.
  • Billhighway to provide automated donation processing for The Michigan Humane Society.
  • Open Bank Project organizing Hack/Make The Bank hackathon in Berlin. Check out more builder tools at FinDEVr this Fall.
  •, ZenPayroll, and Expensify earn spots Sqrl blog’s list of 39 apps you didn’t know could grow your business.
  • Narrative Science’s Kris Hammond is featured in Business Insider’s Technology section.
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.

ZenPayroll Makes Payroll Easier for Employers While Adding a Human Touch to Payday


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

Second up, ZenPayroll demonstrated how it’s helping make payday easier for employers and more personal for employees:
“Payday is a special moment; it’s a chance for business owners to thank people for their contributions and for employees to feel appreciated. Compensation today is an impersonal, transactional event. 
Our team is unearthing the human side of compensation currently buried under layers of complexity and government bureaucracy. Payroll should be about people, not payments. At FinovateSpring, ZenPayroll is unveiling how payroll software can empower employees and help business owners build stronger teams.”
Presenting: Joshua Reeves (CEO & Co-Founder)

Product Launch: December 2012
Metrics: $26.1M in funding raised to date, processing over $500M in annual payroll
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: San Francisco, CA
Founded: October 2011 
Twitter: @ZenPayroll
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Finovate Alumni News– April 11, 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.jpgFinovateSpring 2014 Sneak Peek: Part 6 is now up.
  • Jumio partners with IdentityMind to provide anti-money-laundering Bitcoin compliance for exchanges.
  • FIS launches GenNOW to make it easier for mobile and prepaid card users to access their funds from FIs.
  • Aon Hewitt and HelloWallet partner to help employers bring financial wellness to their workforce.
  • PayPal partners with Samsung to enable users to pay with their fingerprint, launches app for smartwatches.
  • Blackhawk Network recognized for Best Prepaid Innovation at Innovation Project 2014 conference awards.
  • CU Times looks at Citizens Business Bank’s success with Guardian Analytics’ fraud prevention tools.
  • App Developer Magazine looks at Lighter Capital’s RevenueLoan.
  • Birdback and Affiliate Window bring the ease of online offers to offline retailers based in Europe.
  • Betterment’s mobile app makes mobile PIN login available for users.
  • wins Monarch Innovation Award in Innovative Industry Partner category.
  • BizJournals profiles Kabbage co-founder and COO, Kathryn Petralia.
  • American Express Open Forum takes a look at ZenPayroll. See them demo at FinovateSpring in San Jose.
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


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 or

FinovateSpring 2014 Sneak Peek: Part 2

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This year’s return to California for FinovateSpring will feature both new and old faces, as innovative startups make their fintech debuts and established veterans continue to remind us all that they’ve still “got it.”

Maybe your interests in FinovateSpring lie in something specific like security or mobile payments. Or maybe you are just looking forward to taking in all that this year’s crop of FinovateSpring presenters has to offer. 

Whatever your fintech appetite, we think you’ll find our Sneak Peek series a helpful way to get to know the entrepreneurs that will be taking the stage next month in April.

So today we introduce you to another set of six companies: Interactions, Kreditech, Market Prophit, Personal Capital, Yseop, and ZenPayroll. And if you missed the first installment of our FinvoateSpring 2014 Sneak Peek series, click here.

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Interactions Corporation is the only truly conversational, self-service solution to move more activity to self-service and free up agents for higher order tasks.
  • Delivers a fully unstructured, open-ended conversation between businesses and their customers
  • Understands with an unrivaled 95% accuracy in both speech and text
  • Deploys in 12 to 18 weeks
Why it’s great: We put customers first by engaging them in a free form dialogue, allowing them to solve problems quicker, and with less effort.
Phil Gray
Responsible for leading business development. Phil is a successful startup executive with extensive experience in natural language understanding and contact center technologies. 
Dan Fox, Marketing Manager

Kreditech uses Big Data and complex machine-learning algorithms to enable faster, better, and more sustainable credit decisions.
  • Developing self-learning, self-calibrating Big Data scoring
  • Building the “Amazon for consumer lending”: 24/7, always and everywhere available lending platform
  • Innovative FinTech products
Why it’s great: Based on Big Data scoring, Kreditech is building a centralized and global online lending service for innovative consumer finance products.
Sebastian Diemer, Co-Founder and CEO
Started building one of the most innovative global Big Data technology companies in 2012. Today, Kreditech is innovation leader in Big Data scoring.
Alexander Graubner, Founder and CTO
Combines cloud-based big data infrastructure and machine learning to build the world’s consumer scoring technology.

Market Prophit empowers every investor with real-time intelligence into what’s moving the market by quantifying global, financial-related conversations in social media.
  • Real-time sentiment and buzz in stock-related social media chatter
  • Identify the “mavens” in the “crowd” with our quantitative blogger ranking system
  • Track stocks and bloggers you care about
Why it’s great: Klout + Morningstar for social media financial influencers
Igor Gonta, CEO
Extensive experience on Wall Street in sales and trading, and brings that to the intersection of Big Data and finance.

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Personal Capital’s One Click Investment Proposals enables our advisors to efficiently analyze prospective clients’ finances and deliver investment recommendations tailored to their unique needs.
  • Advisors generate 90% of a client’s portfolio with one click
  • Clients see their complete & up-to-date household financial data and a comparison of their existing portfolio to an optimal one
Why it’s great: We’re making it digital – while keeping it personal.
Bill Harris, CEO
Has spent his career dragging the financial industry into the 21st century. He’s developed financial technology for 25 years – including as CEO at Intuit and PayPal.
Jim Del Favero, CPO
Has spent his career designing and building consumer financial software. Before Personal Capital he was head product manager for Quicken at Intuit.

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Yseop is natural language generation software based on artificial intelligence that boosts sales productivity and turns each financial advisor into an expert without additional training.
  • Yseop automates the sales process from lead generation to the writing of pre-to-meeting reports, customer follow-up and personalized marketing communications — automatically.
Why it’s great:
Yseop turns data into text, leads into clients, and salespeople into experts. Double your sales force productivity overnight with the power of artificial intelligence.
Elizabeth Farabee
Has a background in inbound and direct marketing. She is passionate about Yseop’s personalized marketing potential in both the B2C and B2B markets.
Matt Rauscher
Is a consultant at Y
seop. He lived nine years in the United States, and graduated with a Master’s Degree in Finance.

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ZenPayroll is modern, delightful payroll. Our mission is to make payroll as simple and intuitive as possible using the principles of modern software.
  • Makes payroll as simple and intuitive as possible
  • Helps business owners build stronger teams
  • Empowers employees by enabling them to be equal stakeholders
Why it’s great: Payroll should be about people, not payments. ZenPayroll is unearthing the human side of compensation currently buried under layers of complexity and government bureaucracy.
Joshua Reeves, CEO and Co-Founder
Believes in the power of software to solve complex problems, and founded ZenPayroll to deliver delightful, modern payroll to businesses everywhere.

Stay tuned for the next edition of our Sneak Peek series coming next week.

ZenPayroll Brings in $20 Million in Series A Funding from General Catalyst and Kleiner Perkins


ZenPayroll, a company that makes it easier for small businesses to pay their employees, announced yesterday it has been granted funding.

The San Francisco-based startup brought in $20 million in Series A funding from investors General Catalyst and Kleiner Perkins. The new installment, combined with the more than $6 million it received in December of 2012, brings the company’s total funding to just over $26 million.


It plans to use the funds to build new features and create add-ons to existing features, such as:

    • Increase payroll automation
    • Help employers build stronger bonds with employees
    • Help employees better understand their finances

This news comes on the heels of yesterday’s announcement of ZenPayroll’s participation in FinovateSpring in April. To see its newest development in action, get your ticket here.

Finovate Alumni News– February 21, 2014

  • Finovate-F-Logo.jpgBanking Day reports: SocietyOne to take next step in development next month, when it announces the involvement of a strategic investor.
  • ThreatMetrix announces frictionless, context-based authentication to prevent unauthorized access to enterprise applications.
  • TSYS announces increased investment in Central Payment Joint Venture.
  • Fiserv Premier platform picked by New Jersey-based Sussex Bank.
  • CRIF acquires OFWI, aka, Teledata, from Axon Active Holding AG.
  • ZenPayroll brings in $20 million in Series A funding from General Catalyst and Kleiner Perkins.
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.