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Once again alt-lending dominated the dollar volumes flowing into fintech accounting for close to a half-billion this week. The majority ($400 million) went to Chicago-based Avant. We should note that with all the money flowing to alternative lending, it’s getting a bit harder to classify the funding between a lending pledge, straight debt, traditional equity Read more…
The second quarter is off to a big start as charter Finovate alum Prosper raised $165 million at a valuation near $2 billion. In comparison, recently public competitor Lending Club is currently trading at a $6.8 billion valuation. Finovate alums Zen Payroll ($60 million), PayNearMe ($14.7 million) and Patch of Land ($23.6 million) also brought Read more…
On Finovate.com Finovate Debuts: StreetShares Helps Small Businesses Raise Capital FinovateSpring 2015 has sprouted! Check out our first Sneak Peek, featuring 7 presenting companies. Around the web Backbase adds Payveris’ suite of payment APIs to the Backbase Open Banking Marketplace. Evans Bank to deploy core banking technology from FIS. Xignite teams up with ChartIQ to Read more…
On Finovate.com “CardFlight Unveils EMV-Ready Chip Readers for SwipeSimple” Around the web Sonavation launches its IDKEY biometric security key that uses 3D Surface Scan Ultrasound technology. CMSWire interviews Michael Laurie, co-founder and VO of product strategy at Silanis Technology. iExpats takes a look at Azimo in a column on the costs of foreign currency transfers. Read more…
It was a busy week as both Barclay’s Accelerator and YC announced their newly funded companies. In total, 19 companies announced new fundings bringing in a total of $181 million. Two of the top-3 deals involved Finovate alums with Ayadsi pulling in $55 million, Lendio $20.5 million, and Advanced Merchant Payments (undisclosed). In addition, two Finovate alums were acquired at Read more…
When we last heard from i-exceed (FinovateAsia 2013), the company had launched a new website to better promote its flagship app development platform, Appzillion. In the time since, the company has not been idle. In January, i-exceed announced that Indonesian ICT solutions company Telkomsigma will use Appzilllion as its mobile app development platform. This month, Read more…
On Finovate.com Finovate Debuts: PhotoPay’s BlinkOCR Recognizes Data by Context. Finovate Alums Win Gold, Silver, and Bronze at PYMNTS Innovation Awards 2015. Around the Web: PYMNTS interviews DealStruck CEO & Co-founder about how the startup works with traditional banks. Come see DealStruck demo at FinovateSpring 2015. BBC News features BehavioSec’s behavioral biometrics security. iZettle integrates with Read more…
If financial institutions could ask one thing of technology, it might be improving the ease, speed, and security of customer on-boarding. After all, if there is too much friction here at this first impression, a bank may not get a chance to make a second one. In its Finovate debut, on-boarding specialist IDmission demonstrated its Read more…
TransferTo’s mobile remittance platform allows users to send money across borders in real time, and for a specific purpose. The San Francisco-based company aims to solve two pain points in remittance payments: 1) Small remittances incur large fees of up to 50%, making wire transfers an inefficient way to send money under $50. TransferTo specializes in low dollar Read more…
It had to happen, fintech finally had a relatively quiet week. While 10 companies received new money, just two deals reached eight figures: Finovate alum Linkable Networks ($11.7 million) and cloud payroll/HR provider Namely (which is not exactly a pure fintech play). In total, $50 million was invested into the sector this week. Here are Read more…
While all lenders have ways to determine the creditworthiness of borrowers, not all have an efficient and effective process to do so. CRIF’s technology helps lenders maintain growth and agility while managing risk. CRIF is a global company focused on credit management, credit reporting, scoring, loan decisioning, and loan processing. Its modular solutions integrate with Read more…
Social Money, the company that launched – and was formerly known as – the consumer personal finance management solution, SmartyPig, will bring its core processing platform CorePro to Lincoln Savings Bank, an Iowa-based community bank with 17 branches. For Lincoln Savings CEO Erik Skovgard, advanced technology, mobility, and affordability were among the main reasons why Read more…