Wall Street & Technology talks gamification and compliance training with True Office.
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.
Cheers to a new year! After ringing in 2014, we wanted take a look back at the capital raised by Finovate alumni in 2013. It was quite a year, with alums pulling in $825 million, $365 million more than in 2012 for an increase of about 80%.
2013 funding summary:
62 companies raised $825 million
Q4 had the most capital, with a total of $294 million raised by 17 companies (more than half by Xero, which landed $150 million).
October was the busiest month, with $177 million raised (mostlyXero’s $150 million)
May was second highest with$91 million raised by 7 companies
2012 comparison
Last year Finovate alums took in almost twice as much as 2012, when 44 Finovate alums collectively raised $460 million. The chart below shows the quarter-by-quarter comparison for both years.
Quarter 1 — blog post More than $155 million raised by 14 companies
Note: Funding that companies received before they first appearedat Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.
This quarter, both January and Feburary funding exceeded $50 million. Most of February’s funding can be attributed to On Deck Capital’s $42 million round.
Over three months, 15 companies raised more than $155 million, This is very similar to last year’s first quarter funding* when we saw a total of 11 companies raise more than $150 million.
*While the funding over last year has increased, so has the number of Finovate alums. We’re tracking more than 100 additional companies this year compared to last year.
Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.
TradeshiftfeaturesIntuit’s Eric Dunn to talk about the recent partnership.
TechCrunch reports: Yodlee Interactive now powers financial data for 300 apps and businesses; on pace to surpass 500 in 2013.
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.
We will continue to add to this list throughout the next few weeks as new coverage is published. If we are missing press coverage or if you would like to add to the list, please contact julie@finovate.com with the link.
This post is a part of our live coverage of FinovateEurope 2013.
Bringing gamification to the field of regulatory and compliance training is our next presenter, True Office:
“By playing the True Office / Thomson Reuters Anti-Money Laundering desktop and mobile app, financial services employees are exposed to the regulatory risks they confront and learn how to comply with anti-money
laundering laws and company policies.
The data generated from this app provides financial services institutions with compliance analytics that help identify and reduce instances of AML risk.”
Product Launched: February 2013
HQ Location: New York, NY, USA
Company Founded: January 2010
Metrics: 20 employees; 30+ financial services compliance apps currently in production; winner of the 2012 Fintech Innovation Lab; seven-figure product development and distribution partnership with Thomson Reuters Accelus, extending its coverage to over 1,400 banks globally.
Market Watch’s Jennifer Openshaw reviews the ReadyForZero user experience.
Movenbankdrops the “bank”, changes name to Moven. Come see the launch of its new features at FinovateEurope February 12 and 13 in London.
Kabbageappoints Simon Yoo, former co-head and managing director of Citigroup’s FI Group, as CFO. Come see Kabbage’s live demo at FinovateEurope.
Lending Clubopens low-interest, fixed-rate personal loan platform to Tennessee residents.
Fuze Networkguarantees no late fees for credit card payments made before noon CST on due date.
True Officepartners with Thomson Reuters to develop new, ramified compliance applications.
Affinity Solutionsraises more than $6 million in equity and convertible securities.
InCommwins in 4 categories in seventh annual Paybefore Awards.
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.
PlayMoolahlaunchesYusheng Rush, a Chinese New Year themed mobile game.
IP Commerceannounces latest release of Commerce Boarding, a real-time qualification and decision engine.
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.
When the regulatory and compliance training gets tough, the tough get gamified.
At least that’s the approach taken by True Office, a company that specializes in gamifying the complex (and often tedious) regulatory and compliance training process for professionals working in financial institutions.
And this effort to bring a little bounce to the step of those trudging through mandatory compliance training has won the company $3 million in Series A funding.
Said True Office CEO and founder, Adam Sodowick: “A well-designed game has the power to engage employees and at the same time produce analytics that can help banks identify and reduce operational and compliance risk.”
According to information released by the company late last week, True Office will use the funding to help the company expand its presence in the financial sector, as well as apply its gamification approach to other highly-regulated industries.
Participating in the funding round were Rho Ventures, the Partnership for New York City Fund, and Contour Venture Partners.
Watch True Office in action next month in London at FinovateEurope 2013. More information about the event is available here.
Credit Agricole is the first bank in Portugal to provide contactless cards. See their demo at FinovateEurope in February!
Keynoteoffers free mobile testing via DeviceAnywhere.
American Banker reports: Iowa Bank Creates Digital Identities from Fingerprints & Photos using TASCET’sFinancial ICONN software.
VentureBeat reportsBBVA pools $100 million fund to invest in fintech startups. Come see BBVA’s live demo at FinovateEurope.
Credit.comannounces “best balance transfer card” as part of Best Credit Cards in America series.
TrueOfficeannounces $3 million raised in Series A financing. Catch their demo at FinovateEurope in February.
Access Developmentlaunches “Savings Across America” customer incentive product.
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.
Oink adds payment solutions provider Merchant e-Solutions to its Channel Partner program.
laundering laws and company policies.
When the regulatory and compliance training gets tough, the tough get gamified.
The WSJ 
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