PerkStreet Financial, a banking startup, has run out of cash and will shut down. News of PerkStreet’s demise was first reported today by The New York Times. PerkStreet raised a total of $15 million since its 2008 launch, amid a wave of post-credit crisis startups, according to Crunchbase. Among itsRead More
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9. Cross Commerce Media presented a marketing and messaging product for financial services which may have been called Mudpuppy. What could go wrong? 10. Moneyaisle launched a platform where lenders would bid for a customer’s business in an auction format. It was a lead generating site for the banks, but thisRead More
5. People Capital was a person-to-person lending network for students that ignored credit history in favor of the student’s “potential.” Users received “Human Capital Scores” that determined whether or not funds would be loaned. That didn’t work, so now we’re back to using credit scores. 6. Transparent Financial Services was a comparisonRead More
1. Green Sherpa was a PFM-like solution with the ability to auto-tag transactions and even predict cash flow, which is helpful for those with irregular incomes. The solution cost $7.95 a month — too much? Apparently. 2. HomeATM/AnywhereCommerce was a payments platform for eCommerce and mCommerce with its own proprietaryRead More
Every year, hundreds of startups enter the world of banking and financial services. They all work hard and most have seemingly sound ideas and business plans and dedicated founders, but only a few become successes and earn millions. Others gain cult followings and linger in the netherworld between relevance andRead More