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Fintech giant FIS Global (NYSE:FIS) closed a $5.1 billion deal to acquire software and technology services company, SunGuard. The deal boots FIS to 55,000 employees and a combined revenue of $9.3 billion. As a part of the acquisition, the Florida-based company will repay SunGuard’s outstanding debt. In a statement, FIS president and CEO Gary Norcross Read more…
Building new financial technology? Mark your calendars for our spring developer event in New York, 29/30 March 29, FinDEVr 2016 and check out the first round of FinDEVr New York presenting companies. Developer news Financial Services blog describes why 2015 is time to expand open-source to finance. “Let’s Talk Payments: 63 Insanely Useful APIs Across Read more…
Identity-verification specialist Trulioo picked up $15 million in new funding to help fuel growth. The round featured participation from American Express Ventures, along with existing investors BDC Capital, Blumberg Capital, and Tenfore Holdings. Trulioo’s total capital now stands at more than $23 million. Trulioo CEO Stephen Ufford called the investment a vote of confidence in Read more…
Buoyed by 7 Startupbootcamp Insurance entrants—each grabbing $17,000—a record 30 fintech companies raised money this week for a total of just under $100 million ($95.8 million). Only two companies topped 7 figures: real estate specialist EasyProperty ($37.6 million) and Lemonade, a P2P insurance play ($13 million). Four Finovate alums were among the bunch: CBANC Network Read more…
Today, in a blog post titled, A New Chapter, Trustev announced it has been acquired by one of its investors, TransUnion (NYSE: TRU), which went public on the NYSE earlier this year. Pat Phelan says the exit will “allow us to deeply integrate with TransUnion and put our collective, rich-data sets and advanced technology to Read more…
Israeli anti-fraud and cybersecurity specialist ThetaRay has locked in a $5 million investment from Chinese e-commerce titan, Alibaba. The investment is part of a larger $20 million round-in-progress that includes participation from General Electric, Jerusalem Venture Partners, and Poalim Capital Markets, along with other investors. ThetaRay’s technology specializes in detecting and preventing advanced persistent threat Read more…
Mobino will soon be available to customers of the Swiss payment system, Paymit. The partnership was announced during an industry event this week by Mobino CEO Jean-François Groff and Thomas Landis, head of Paymit’s Exploration Team. Interviewed by ICT Journal, Groff said that his company had been in discussion with Paymit for awhile, helping develop Read more…
Dwolla will power P2P money transfers on the SEQR platform designed by Swedish payment processor, Seamless. The service will launch in North America in the first quarter of 2016. Seamless CEO Peter Fredell said that the agreement with Dwolla is part of a larger effort to expand within the United States. “Money transfers between private Read more…
[Update] Nous has closed the round, exceeding expectations by raising $750,000 from angels and crowdfunding. This is $223,000 more than its original goal of $527,000. Nous, a startup that builds products for global financial market enthusiasts, announced last week it has raised 88% of its £350,000 ($527,000) goal in its second external round of funding. Read more…
Large swaths of cash flowed into the global fintech sector last week. All told, 26 companies brought in $1.06 billion. A quarter of the total was Square’s IPO ($243 million), another $330 million was debt, with the remaining $479 million being VC/angel funding. In addition to Square, two companies topped $100 million: student and personal Read more…
Just over a month after securing $4 million in an investment round led by QED Investors, 401(k) innovator Blooom has been named “One in a Million” in the startup competition sponsored by the Kauffman Foundation. “All of the finalists were incredibly talented,” said Chris Costello, Blooom CEO. “I was humbled to be considered among the Read more…
Student-loan management specialist Tuition.io has raised $5 million in Series A funding. Participating in the round were MassMutual Ventures, Mohr Davidow Ventures, and Wildcat Venture Partners. The funding takes Tuition.io’s total capital to more than $8 million. Tuition.io plans to use the capital to help acquire more enterprise customers, as well as to grow its Read more…