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Tipalti closes $30m Series C funding round

Finextra.com | February 13th, 2018

Tipalti, the leading global payables automation solution, today announced it has closed a $30 million Series C financing round led by Zeev Ventures. This brings the B2B fintech leader’s total funding to over $50 million, and will help Tipalti widen its innovation edge and position as the pacesetter in the accounts payable automation space.

“Tipalti’s near-perfect record of customer satisfaction and retention rates throughout our history are emblematic of how much value our service generates for our clients. By modernizing the finance operation, we typically automate 80% of an organization’s AP and cross-border payments workload, freeing the finance team to focus on mission-critical initiatives, such as scaling their business globally and improving their company’s competitiveness and profitability,” said Chen Amit, CEO and Co-founder of Tipalti. “This funding round enables us to continue our track record of innovation to transform the entire accounts payable operation.”

Read the full article here.

Forbes Fintech 50 2018: The Future Of Wall Street And Big Data

Forbes.com | by Antoine Gara | February 13th, 2018

Being at the cutting edge of technology on Wall Street can mean billions of dollars in value created, or saved. In a dawning era of disruption, Wall Street-focused financial technology startups are helping the world’s biggest banks and investors manage the flow of money better, safer and at a lower cost…

Our list also includes holdovers that are increasingly entrenched on Wall Street. Nashville’s Digital Reasoning pioneered algorithms that study language to help heavyweights like Goldman Sachs and Nasdaq NDAQ +0.43% uncover manipulators. Soon $1 trillion worth of assets will be stewarded on fintech unicorn Addepar. Stock exchange IEX my eventually redefine what it means to be a public company…

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SGVC Launches $50M Third Venture Fund Less than 18 Months After Second Fund Closes

Alt Assets | September 25th, 2017

SGVC is launching its third flagship venture capital fund less than 18 months after its second fund closed on $50m. A person familiar with the matter said that the firm would look to maintain the size of its previous fundraises and continue to focus on Silicon Valley or Israel-based companies in the B2B, Enterprise Software and FinTech sectors. It will invest in their Series A rounds.

Read the article here.

HomeLight Raises $40M In Series B Funding To Help You Find A Listing Agent

Forbes.com | by Omri Barzilay | August 15th, 2017

San Francisco-based HomeLight, a marketplace for connecting home sellers with real estate agents, announced today that it has raised $40 million in Series B funding led by Silicon Valley’s Menlo Ventures with participation from Citi Ventures, and existing investors Zeev Ventures, SGVC, Crosslink Capital and Innovation Endeavors. HomeLight’s venture funding since inception in 2012 now totals $55 million. Following the round, Tyler Sosin of Menlo Ventures will join HomeLight’s board of directors. Venky Ganesan of Menlo Ventures and Dovi Frances of SGVC will join HomeLight’s board as observers.

Read the full article here.

SoftBank Vision Fund Leads $200 Million Bet on Indoor Farms

Bloomberg.com | by Selina Wang | July 19th, 2017

Masayoshi Son has discovered a green thumb.

The SoftBank Group Corp. chief’s Vision Fund is leading a $200 million investment in Silicon Valley startup Plenty, which says it has cracked the code on growing crops indoors super efficiently. Other participants in the round include Moore Capital Management founder Louis Bacon as well as existing backers such as DCM Ventures and funds that invest on behalf of Alphabet’s Eric Schmidt and Amazon’s Jeff Bezos.

Read the full article here.

TripActions and Coupa Announce Strategic Partnership to Deliver Seamless Travel and Expense Management

FROM Coupa.com | July 17th, 2017

BOSTON, MA, July 17, 2017 – Coupa Software (NASDAQ:COUP), a global leader in cloud-based spend management, and TripActions, an innovative end-to-end corporate travel solution, are announcing a strategic partnership to help deliver a more seamless travel and expense management experience. Modern organizations with managed travel programs can now take advantage of the integration between these two premier solutions.

Read the full article here.

American Express invests in insurance startup Next Insurance

BY Anna Irrera | Reuters | June 20th, 2017

American Express Co has invested in Next Insurance, a Palo Alto-based technology startup that sells customized insurance for small businesses online, as Silicon Valley companies look to shake up the insurance sector.

Next Insurance, which raised $29 million in May from investors led by reinsurer Munich Re’s HSB Ventures, said on Tuesday that American Express’s venture capital arm has joined the investor group. Next Insurance will use the new cash injection, which brings the investment round to $35 million, to expand the products it offers and target new business sectors, the company said.

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Why this startup CEO went to the White House alongside Tim Cook and Jeff Bezos

BY CNN Money | by Aimee Rawlins | June 19th, 2017

The CEOs of some of the world’s biggest tech companies descended on the White House Monday — along with a few people who aren’t yet household names. One of those is Zachary Bookman, CEO of OpenGov. Launched in 2012, OpenGov focuses on helping state and local governments streamline their systems. Think opening up the budget process, setting trackable goals and being more transparent with constituents.

The state of Ohio, which used OpenGov to drill down on local spending, went from #46 in financial transparency to #1, according to the U.S. Public Interest Research Group. Meanwhile an official in Ivins, Utah (population 8,000) was able to cut his budgeting time in half using OpenGov. His experience made Bookman a perfect fit for Monday’s meetings, which were geared toward modernizing the federal government.

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Fintech start-up SoFi is moving into traditional banking

BY LA Times | by AP | June 13th, 2017

Online lender and financial start-up SoFi has taken the first step toward competing with the nation’s biggest banks on their home turf: the checking account.

Last week, the San Francisco provider of student and personal loans submitted an application for federal deposit insurance, a protection normally available only to conventional banks. In its application, the company said its SoFi Bank subsidiary will offer bread-and-butter banking products, including checking accounts, debit cards and eventually credit cards.

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Addepar raises $140 million to help rich people manage their assets

BY Paul Sawers | VentureBeat | June 9th, 2017

Addepar, a company that touts itself as the “operating system for the financial world,” has raised a whopping $140 million in a series D round of funding led by Valor Equity Partners, 8VC, and QuantRes founder Harald McPike.

Founded out of Mountain View, Calif. in 2009, Addepar is a data-driven investment management platform targeted at financial advisers, who use the software to track assets and “visualize” information for their clients. The company also offers APIs to integrate with third-party products, including Salesforce Financial Services Cloud. The company said that it works with hundreds of advisers, endowments, and major financial institutions, with more than $650 billion in assets funneled through its platform — up from $300 billion 18 months ago.

Read the full article here.