Alumni News– September 12, 2014

• miiCard launches DirectID to enable verification for high value transactions online.

• FinovateFall 2014: Meet the People in Your Fintech Neighborhood.

• First Trade Union Bank (+$700M in assets) deploys Q2platform from Q2.

• TSYS and iMobile3 partner to Provide Apple Pay Integration.

• Payfone announces release of new Mobile Identity as an Experience Platform.

• Kony wins first place at 2014 CTIA MobITs Awards.

• Tink raises $4 million in Series A round.

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– September 8, 2014

• PYMNTS.com profiles Tradeshift Co-Founder and CEO Christian Lanng.

• ZenPayroll opens up its API to small business technology providers.

• Silicon Republic takes a look at Trustev’s “multimillion-dollar security deal” with Radio Shack.

• Tibco announces Engage software as a service to motivate consumers with real-time and predictive personalization.

• Investors.com features FutureAdvisor.

• Kony named “Leader” by Gartner in Magic Quadrant for Mobile Application Development Platforms.

• Mint launches free credit score.

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– August 20, 2014

• CUneXus improves loan acceptance by 68% over 2013 for Educational Employees CU.

• With Simple’s 2.0 mobile app update, users can send paper check payments via mobile.

• ID Analytics names Daniel Rawlings as Chief Revenue Officer.

• Essent Guaranty offering lenders access to rate quotes through an interface with D+H’s MortgagebotLOS.

• ThreatMetrix selected as one of CIOReview100s Most Promising Technology Companies.

• EyeVerify and Zumigo selected for Wells Fargo’s accelerator.

• Expensify integrates with Uber’s API to launch SmartRides feature.

• PayNearMe and SIMI partner to offer cash collection services to US government agencies.

• Kony launches MobileFabric to Accelerate Speed of Delivering Great Enterprise Mobile Apps.

• PayPal announces access to its One Touch mobile payment solution. Join PayPal in San Francisco for FinDEVr this fall.

• Cartera Commerce unveils new website.

• Wallaby Financial launches CardBase and The Card Guide, opening its credit card database to the public.

• National Real Estate Investor features Realty Mogul CEO and co-founder, Jilliene Helman.

• Forex Brokerz talks about the beta release of Darwinex’s social trading platform.

• peerTransfer tops $1 billion in international education payments, announces 500th client.

• Bloomberg.com features Venmo, Fiserv’s Popmoney, and Dwolla in column on Millennials and mobile payments.

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 More than $600 Million for Second Quarter in a Row

In the first quarter of 2014, 23 Finovate alums raised more than $592 million

And as the second quarter draws to a close, it’s clear that a comparable cohort of alums have kept the pace.

Over the course April, May, and June, 28 alums raised significant amounts of capital ranging from Gremln’s $100,000 to the $65 million raised by Lending Club. The quarterly total of $594 million is almost exactly the same as the previous quarter.

And given that some amounts are undisclosed (I’m talking about you, Holvi, RevolutionCredit, and Tuition.io), we’re confident that Finovate alums have notched their second $600 million fund-raising quarter in a row.

How does this compare with the less recent past? Very well, indeed. 

In the second quarter of 2013, 15 alums raised more than $200 million. This was a major improvement on the second quarter from 2012, which featured 14 companies raising more than $120 million. 

Total raised for Q2 2014 = $594 million

April — $217 million raised by 11 companies

• Betterment – $32 million – blog post
• The Currency Cloud – $10 million – blog post
• LearnVest – $28 million – blog post
• Lending Club – $65 million (equity portion of debt and equity deal) – blog post
• Ondot Systems – $18 million – blog post
• SeedInvest – $2 million – blog post
• ShopKeep POS – $25 million – blog post
• Signifyd – $2 million – blog post
• Tuition.io – undisclosed – blog post
• Wealthfront – $35 million – blog post

May —  $226 million raised by 11 companies

• App Annie – $17 million – blog post
• BodeTree – $2 million – blog post
• Dashlane – $22 million – blog post
• DemystData – $5 million – blog post
• FutureAdvisor – $15 million – blog post
• Holvi – undisclosed – blog post
• Kabbage – $40 million – blog post
• Motif Investing – $35 million – blog post
• RevolutionCredit – undisclosed – blog post
• Swipely – $20 million – blog post

June — $151 million raised by six companies

• fastacash – $4 million – blog post
• Gremln – $100,000 – blog post
• Kony – $50 million – blog post
• Kreditech – $40 million – blog post
• Nutmeg – $32 million – blog post
• TransferWise – $25 million – blog post

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Note: Funding prior to becoming a Finovate alum not included. Questions? Comments? Email us at David@Finovate.com or Julie@Finovate.com

Alumni News– June 18, 2014

• ThreatMetrix integrates with Ping Identity’s PingFederate ID bridge to provide contextual employee authentication.

• Kony brings in $50 Million in Financing Led by SoftBank Capital.

• Flint integrates with QuickBooks Online.

• Eight Finovate alums earn spots on CNBC’s Disruptor 50 list: Motif Investing, TransferWise, Personal Capital, Wealthfront, Lending Club, Coinbase, Bill.com, and Betterment.

• Umpqua Bank announces plans to transition to a scalable core solution from FIS.

• Intuit completes acquisition of Check.

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.

Kony Brings in $50 Million in Financing Led by SoftBank Capital

With expansion into the mobile channel no longer an option but a necessity, it’s no wonder that enterprise mobility company, Kony Solutions, received additional backing today.

The Florida-based company pulled in $50 million from SoftBank Capital, who led the round, followed by Delta-V and Hamilton Lane, along with existing investors:

• Insight Venture Partners
• Telstra Ventures
• Georgian Partners

This newest installment brings Kony’s total funding to $98.4 million.

Kony helps a variety of verticals deliver mobile apps by helping with everything from design, to deployment, to management of the app. It specializes in creating unified multi-channel solutions that run across multiple platforms. It plans to use the funding to expand its global reach and expand services for existing clients.

Kony demonstrated at FinovateSpring 2011 where it debuted mobile banking technology. You can check out the demo video here.

Alumni News– June 9, 2014

• Five Weeks to SixThirty: Accelerator Program Sets July 11th Deadline.

• VerifyValid announced partnership with Lake Michigan Credit Union.

• ACI Worldwide’s Point to Point Encryption solution adopted by Ecentric Payment Systems in South Africa.

• Chicago Tribune’s Blue Sky Innovation column takes a look at fraud detection innovator, Rippleshot.

• NYmag features fintech from FinovateSpring 2014.

• E27 looks at PlayMoolah’s Indiegogo campaign.

• Cortera to bring its business credit risk management to Equipment Street’s marketplace.

• Weight Watchers selects Kony to power mobile point of sale capabilities.

• CoinDesk interviews Fidor Bank COO Michael Maier on the Munich-based bank’s decision to use Ripple Labs to move money.

• Financial Guard, FutureAdvisor, Betterment, Jemstep, SigFig, and Wealthfront make Kiplinger’s Best Online Advisory list.

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– May 19, 2014

• Geezeo announces HTML5-inspired redesign of mobile PFM app.

• Dashlane raises $22 million; announces 2 million users, $1 billion in transactions enabled.

• Raymond James Bank N.A. chooses Fiserv for extensive enterprise banking.

• MasterCard to acquire Indian payments processor, ElectraCard Services, for undisclosed amount.

• Kony releases new Mobile Backend-as-a-Service
  (MBaaS) to reduce the cost and complexity of building enterprise mobile apps.

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– May 9, 2014

• Q2ebanking releases first quarter results with 2014 Q1 revenue of $16.8 million, up 31% YOY.

• Stockr voted Top 100 Website by PC Magazine.

• Dell Services improves enterprise mobility offerings with Kony partnership.

• Silicon Slopes: MoneyDesktop snags AtTask executive for EVP of Sales.

• FinovateSpring: Behind the Scenes with CUneXus, ID.me, and Venovate.

• Bolstr featured in Built in Chicago.

• MasterCard launches “auWallet” prepaid card program for APMEA region in partnership with KDDI.

• Nymeo Federal Credit Union to deploy account processing technology from Fiserv.

• Klarna, Provenir launch project to combine fraud risk decisioning with compliance, risk management automation.

• Entrepreneurial digital startup hub, 1871, features Rippleshot.

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– March 6, 2014

• iQuantifi launches financial advice platform to general public.

• Billeo and Danal partner to create a mobile ID solution for Billeo’s XpressBuy checkout service to make it easier by autofilling forms with your relevant information.

• Nerdwallet features PayNearMe.

• GMC Software Technology and Kony partner to develop next-gen document tech solutions for businesses.

• SecureKey Concierge Service tops one million-credential mark.

• American Banker takes a look at Jack Henry & Associates and its acquisition of Banno.

• FinovateEurope: Behind the Scenes with Arxan Technologies, Kensho, and Plutus Software.

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.