A daily newsletter summarizing recent activity & interesting start-ups globally
RECENT NOTABLE ACTIVITY – BANKING TECH
- Penta bank, a Digital banking service provider for SMEs, raised seed funding from Startupbootcamp. Link
- Payso, a Vancouver-based chatbot solution provider for banks, raised seed funding from undisclosed investors. Link
- Enterprise Bot, an AI-powered customer relationship tool for banks, raised seed funding from Startupbootcamp. Link
- Tide, a mobile first bank for small businesses, raised $2M in seed funding from Local Globe VC and Passion Capital. Link
- Cloudvirga, a cloud-based intelligent Mortgage Platform (iMP), raised $7.5M in series A funding from Dallas Capital, Upfront, Tribeca Angels. Link
- Mondo, a UK challenger bank, received banking license. Link
- Raphaels Bank is to begin offering Faster Payments services to UK Fintech companies as it became the first new bank to connect directly to the scheme since its inception in 2008. Link
- Penta bank, a Digital banking service provider for SMEs, raised seed funding from Startupbootcamp. Link
- Payso, a Vancouver-based chatbot solution provider for banks, raised seed funding from undisclosed investors. Link
- Enterprise Bot, an AI-powered customer relationship tool for banks, raised seed funding from Startupbootcamp. Link
- Tide, a mobile first bank for small businesses, raised $2M in seed funding from Local Globe VC and Passion Capital. Link
- Cloudvirga, a cloud-based intelligent Mortgage Platform (iMP), raised $7.5M in series A funding from Dallas Capital, Upfront, Tribeca Angels. Link
- Mondo, a UK challenger bank, received banking license. Link
- Raphaels Bank is to begin offering Faster Payments services to UK Fintech companies as it became the first new bank to connect directly to the scheme since its inception in 2008. Link
SOME INTERESTING STARTUPS FOUND
Narmi (2016, NYC) – An online/mobile banking engagement solution provider to banks and credit unions.
Change (2016, Singapore) – A mobile-only bank offering retail banking and insurance services.
LEADER BOARD – BANKING TECH
Alternative Banking
Tandem Bank (2013, London, $189M) – UK-based mobile first bank. Backed by Route66 Ventures, e.ventures,
Omidyar Network.
Atom Bank (2014, London, $163M) – UK-based Internet first bank. Backed by Anthemis Group, Polar Capital, Toscafund, BBVA.Alternative Banking,Back end Solutions,Banking Tech, Data APIs,Fraud & Risk Management, Front-end Channel Providers,Payments, Regulatory & Compliance Solutions
Nubank Brasil (2013, Sao Paulo, $98M) – Brazil-based Payments company issuing MasterCard flagged credit cards. Backed by Sequoia Capital, Kaszek Ventures, Founders Fund, QED Investors, Tiger Global.
Starling Bank (2014, London, $70M) – Full stack internet-first bank operating in the UK. Backed by Harald McPike, the founder of QuantRes, a quantitative investment manager.
Data APIs
Yodlee (1999, Redwood City, $134M, Acq.) – Financial data API provider. Backed by Warburg Pincus, Accel Partners, Institutional Venture Partners, Bank of America. Acquired by Envestnet for $590M in August, 2015.
Plaid (2012, SF, $60M) – Provides REST APIs to banks for transactional and account data from other financial institutions. Backed by Spark Capital, Google Ventures, New Enterprise Associates, Felicis Ventures, Homebrew, BoxGroup.
Front end Channel Providers
Monitise (2003, London, IPO) – Provides mobile banking and payment solutions for financial institutions. Backed by VISA, Master Card, Telefonica, Banco Santander and First Eastern Investment Group. Went public in 2007.
Strands Labs (2003, SF, $55M) – Personalized digital banking solution provider for banks. Backed by Debaeque, Sequel Venture Partners, BBVA, JLA Ventures.
MX Technologies (2010, Lehi, $57M) – Provides omni-channel banking platforms to the customers of partner banks and financial institutions. Backed by Commerce Ventures, North Hill Ventures, TTV Capital, Digital Garage.
Payments
AGS Transact Technologies (2002, Mumbai, $80M) – End to end payment solutions provider. Backed by TPG Capital and Actis.
Financial Software Systems (1991, Chennai, $70M) – Provider of electronic payment & financial transaction processing solutions. Backed by New Enterprise Associates, Jacob Ballas Capital India Private Limited, Carlyle Group.
Fraud & Risk Management
Guardian Analytics (2005, Mountain View, $51M) – Provides fraud prevention solutions for protecting online channels and accounts for banks. Backed by Foundation Capital, Sutter Hill Ventures, Split Rock Partners, Triangle Peak Partners.
ID Analytics (2002, San Diego, $35M, Acq.) – Provides identity risk and payment fraud security solutions to financial institutions and government agencies. Backed by Trinity ventures, Mission Ventures, Canaan Partners. Acquired by Lifelock in 2012.
K2 Intelligence (2009, NYC, $16M) – Provides specialized risk services and solutions to banks, sovereign nations and individuals. Backed by RRE Ventures.
Marketing Solutions
Cardlytics (2008, Atlanta, $170M) – Card-linked marketing services provider for banks. Backed by Discovery Capital, Canaan Partners, Polaris Partners, TTVCapital, Aimia, Kinetic Ventures.
Edo Interactive (2007, Nashville, $76.5M) – Provider of personalized card linked offers. Backed by Baird Capital, Nashville Capital Network, FCA Venture Partners, VantagePoint Capital Partners.
Regulatory & Compliance Solutions
Ping Identity (2002, Denver, $137M, Acq.) – Provides a comprehensive identity management solution. Backed by KKR, Sapphire Ventures, Silicon Valley Bank. Acquired by Vista Equity Partners in 2016.
Metricstream (1999, Palo Alto, $125M) – Provides solutions for quality management, regulatory compliance, risk management, and corporate governance. Backed by Gold Hill Capital, Montage Capital, Goldman Sachs, Advanced Equities, Vision Capital Advisors, Kleiner Perkins Caufield & Byers, Sageview Capital, Kaiser AG.
Verafin (2003, St. Johns, $66M) – Provides compliance, anti-money laundering (AML) and fraud detection softwares for banks. Backed by Spectrum Equity.
Back end Solutions
Docusign (2003, SF, $515M) – Provides electronic signature platform for user authentication. Backed by Dell, Bain Capital, VISA, Accel Partners, BBVA Ventures.
Fenergo (2009, Dublin, $80M) – Web-based client on-boarding lifecycle management solution provider. Backed by Investec, Insight Partners.
Leader board includes all the top funded, IPO and successfully running bootstrapped companies along with their location, founding year and funding amount.
For latest update, visit Banking Tech feed.