Photo of an ATM machine illustrates financial services startups

Financial services startup sector continues solid growth (analysis)

The venture-backed financial services industry continues to evolve and grow at a rapid pace as investors continue to fuel industry change. There are several recent VC investment trends in financial services, including trying to capitalize on the social media phenomenon, as well as online services that help later-stage start-ups gain liquidity outside the sometimes difficult IPO process and market.

Xignite raises $10M for cloud delivery of financial market data

Xignite is out to democratize access to financial data, which has exploded in the past decade with the onset of real-time, 24-hour trading. It is doing so by making that data more accessible via cloud computing and has just raised $10 million in a second round of funding, it announced today.

OpenGamma raises $6M to kill old-school trading software

OpenGamma, a provider of analytics software for the financial services industry, announced today that it has raised $6 million in its second round of funding — even though it doesn’t have a product quite yet.

Ex-Googler Douglas Merrill takes on payday lenders with ZestCash

Douglas Merrill helped launch Google into the online-payments business with Google Checkout. Now he’s looking to help people afford to shop online — or anywhere, for that matter — with a new short-term lending startup called ZestCash, whose site is going live today.

Bank of America invests in mobile banking platform maker mFoundry

Mobile banking continues to heat up as Banc of America Strategic Investors Corp, the investing (and strangely Francophone-spelled) arm of Bank of America, announced the completion a strategic investing round in mobile banking platform maker mFoundry.