Its been a week of exciting news. Following the series A funding announcement of Artesian Solutions in the UK, BizSpark One company Dayforce (another one from my portfolio) from Canada got acquired by Ceridian.
http://www.dayforce.com/About-Us/News/Ceridian-Announces-Definitive-Agreement-to-Acquire.aspx
Congrats to CEO David Ossip and team!
Great news: One of my portfolio companies: UK based Artesian Solutions raises 2 Million Pounds Sterling in Series A from Olympus. My colleague Bindi Karia and myself have been working with Artesian management team for a couple of years now and are very excited about their success. Congratulations to CEO Andrew Yates and team. Artesian is well positioned to take advantage of numerous commercial opportunities in the Microsoft ecosystem so stay tuned for more successes.
I had the pleasure of being one of the judges and on the selection committee at the Innotribe Startup Challenge, which is a premier program in the Financial Services vertical for finding the most innovative companies globally. 100 startup applications, 15 finalists. Second time I have judged at this event. Here are highlights of some of the companies:
Early Stage Startups
P2P Cash Technology – Winner
A majority of the world’s population lacks the ability to make basic financial transactions. P2P Cash Technology has developed a highly scalable mobile financial services solution that brings secure, low cost banking functions to the unbanked consumer via the mobile phone and a proprietary agent cash management system. P2P Cash is first-to-market with a VISA clearing and settlement strategy creating a worldwide standard to meet the needs of the under-banked in emerging markets. P2P Cash enables ANY retailer to offer money transfer and other financial services to ANY cellphone user generating new sources of revenue for the retailer
Snappay
Snappay turns a smartphone into a POS machine without the need for additional hardware, empowering merchants of any size to begin accepting mobile payments in minutes rather than waiting days for an attachment in the mail. Very early stage and launches next week. Competes with Square and differentialtion is no hardware is required to scan cards. Snappay’s patent pending technology alleviates consumer fear of sharing sensitive payment information, by allowing consumers to complete transactions on their own phone. This ensures consumers feel comfortable paying on a smartphone. Unlike competitors like Square, all Snappay payments are processed through PayPal and so have potential access to a global distribution market.
Bilbus Network Capital
All small businesses (SMBs) face two major challenges: cash flow visibility and access to finance. Bilbus unlocks commercial lending to SMBs, giving businesses the visibility to work out when they will need cash and simplifying how they meet funding gaps. Bilbus enables small businesses to invoice, collect and connect with commercial lenders via a single dashboard.
Emerge
Emerge provides financial wellness services as an employee benefit, including workplace-based affordable personal loan products and financial coaching services designed to help paycheck-to-paycheck earners obtain short term small dollar loans, build credit, establish savings plans, avoid predatory lenders, and improve their overall financial stability. In layman’s terms, compete with cash advance services at less risk as the loans are tied to employment and deductions are from paycheck. Based in San Francisco.
RoboInvest
Roboinvest is a social investing platform, with direct integration to E*TRADE, that allows self directed investors to look over the shoulder of verified top ranked investors in real time, using a subscription based pay-to-follow model, that’s statistically proven to increase profitability by 66%
Ballooning Nest Eggs
Seeks to fundamentally change the process for growing kids’ wealth in the US. They’ve got an innovative social gifting platform and plan to take a remarkably undeveloped sector - investment gifting to youngsters - mainstream. They claim they are the first online investment gift platform and registry for families to share childhood celebrations and build their youngster’s nest eggs. Their platform provides parents with compelling social tools (themed e-card, e-invites, social networking) to spur their network of relatives and friends to gift investments directly into their child’s accounts held at one of our financial partners.
XYVerify
XYverify enables consumers, merchants, banks and other financial institutions to reduce costs and fraud surrounding transactions through a cloud computing-based mobile location authentication platform. With XYverify, mobile location verifies the proximity to transact through a patented and carrier-agnostic solution -- no download or app is required. By reinforcing ‘who you are’ with ‘where you are’ credentials, XYverify empowers secure and real-time authentication for everything from card transactions and fraud/identity theft prevention to specialized services like loyalty rewards.
LendTree
Lendtree combines credit counseling and debt buying with peer-to-peer lending to help distressed debtors proactively refinance existing debt into a low interest loan funded by individual investors, a la LendingClub. However, borrowers on our site do not receive cash instead, the money invested by the investors goes to directly pay the existing creditors, at an agreed upon discount. In layman’s terms, they’ve got a cloud based solution that allows individuals and consumers to lend money to distressed borrowers at attractive interest rates and returns.
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Securlert
Detects cyber borne malware already installed on your systems, gone undetected by your other security measures. The Service is based on pin-pointed intelligence gained directly from the hostile Botnets with no need for any S/W or H/W installation at the customer premises.
Vuru
Vuru turns complex financial data into clear, transparent reports that retail investors of any skill level can leverage. In layman’s terms, they are providing a very consumer friendly easy to use version of Bloomberg for individual investors to find accurate information about companies prior to buying the stock and the ability to trade. Very early stage – but one to watch as it looks very easy to use. Based in Toronto Canada.
Growth Startups
Gust – winner in “Growth Startup” Category :
Gust is a global platform for sourcing and managing seed and early-stage equity investments. Its infrastructure enables qualified entrepreneurs to arrange equity financing from accredited investors. The company’s knowledge and collaboration resources support all aspects of deal flow management and investor relations, from pitch to exit.
The Currency Cloud
Currency Cloud radically simplifies and reduces the cost of today’s complex cross-border payments. The platform automates currency receiving, conversion and payment. Customers are either firms who make currency payments on behalf of their clients, or enterprises who make their own payments. Customers benefit from: transparent, low-cost and fixed pricing with no hidden fees; end-to-end automation and a per transaction currency rate guarantee that eliminates currency risk.
Lendo
Lenddo is an online platform that empowers the emerging middle class to create their own communities using their online social connections to build their credit worthiness and access localized money management tools and financial services.
Saygent
Most businesses have customers who have stories to tell, but they rarely get the opportunity to tell what really matters. Saygent’s listening and engagement platform lets customers share unstructured feedback quickly via their mobile phones at important milestones in the customer journey. will see and hear what your customers think of you and why they feel that way. Their data visualization tools make it easy for companies to track key satisfaction and loyalty indicators on the company, branch and individual customer level. Saygent’s patent-pending technology understands and organizes the emotion and content provided in unstructured feedback.
Overall –
Well organized with a great mix of investors, corporate and financial services executives from across the industry with great opportunities for networking.
