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With participation from Core Innovation Capital, Venture 51, Camp One Ventures, IDG Capital Partners, as well as additional individual investors, Ripple Labs (formerly OpenCoin) announced that it has raised an additional $3.5 million in financing. Boosting the company’s total funding to $9 million, the new capital will be put to use building tools for developers and Read more…
I have not as yet jumped on the Bitcoin bandwagon. Unlike other digital financial inventions that seemed obviously useful when they first appeared (e.g., Internet banking, P2P lending, two-factor authentication, etc.), an open-source, math-based virtual currency created by an anonymous cryptographer seems a bit of a stretch. But even the Fed (Chicago) complimented Bitcoin in Read more…
A big month for Flint Mobile just got a bit bigger with news that the mobile payments company just raised $6 million in funding from new and existing investors. The round was led by Digicel Group, and included participation from Storm Ventures, SVG Partners, and True Ventures. Flint’s total capital raised stands at $9 million, Read more…
Xero, a New Zealand-based company that creates cloud-based accounting software, has experienced a large growth spurt lately. Earlier this month, it officially launched in the U.S. and today it announced the largest installment of equity funding we’ve seen for a Finovate alum thus far. The $150 million (NZ $180 million) in funding comes from a range of investors Read more…
One of the biggest memes to emerge from FinovateFall 2013 last month was the impressive innovation coming from not just European banks, but from Central and Eastern European banks, in particular. Apropos of that meme is news that FIS will be launching the first, real-time, core banking utility in the cloud for mid-tier banks in, Read more…
In its first external funding round, customer onboarding specialist Fenergo announced this morning that they had raised €4 million ($5.43 million USD). The new equity investment comes courtesy of Investec Ventures, and includes co-investment from current shareholders. Fenergo plans to use the additional investment to expand their global presence in North American, Europe, and the Read more…
This post is part of our live coverage of FinovateFall 2013. Next, P2P Cash stepped up to demo its remittance platform: “P2P Cash’s low cost money transfer system enables online consumers to send money to any cellphone worldwide at zero cost. Using international banking standards (SWIFT), P2P Cash developed a highly scalable, low cost mobile Read more…
This post is part of our live coverage of FinovateFall 2013. Next, Narrative Science demonstrated how Quill Financial helps financial institutions analyze their data at a large scale: “Quill Financial is a product suite that enables financial institutions the ability to automatically analyze, understand, and communicate what’s happening in their data at a speed and Read more…
This post is part of our live coverage of FinvoateFall 2013. The final presenter for this session before the afternoon break is MasterCard Worldwide. The company is demoing its Dual Value Heath Card which creates point of sale incentives wherever MasterCard is accepted. “The Dual Value Health Card combines the MasterCard payment network with InComm’s Read more…
This post is part of our live coverage of FinovateFall 2013. Our next presenter is the team from Finect. The company’s solution provides for an easy-to-use compliant social media with a pair of new features: “Global Library – The financial industry’s broadest, smartest, and yet simplest library provides for the first truly open exchange of Read more…
This post is part of our live coverage of FinovateFall 2013. Yodlee took the stage next to debut its new TANDEM product: “When it comes to finances, where you stand depends on which “hat” you’re wearing. Most people have several “shared finances” in their life. Elderly parents. Spouses. Children. Friends. Now, through a single app, Read more…
This post is part of our live coverage of FinovateFall 2013. Then, Luminous showed how its PreApprover helps financial institutions efficiently screen potential borrowers: “Online business loan PreApprover is a customer-driven, self-service tool that identifies suitable loan customers from unsuccessful applicants with minimal effort from the bank. PreApprover reduces the amount of resources spent on Read more…