Quovo

wealthtech (retail)financial research

STATUS: Acquired/Merged
FOUNDING YEAR: 2010
LOCATION: United States
Last Update: 01/05/2020

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About

Quovo is a data platform providing insights and connectivity for millions of financial accounts across thousands of institutions. With industry-leading APIs, modular applications, and enterprise solutions, Quovo makes it easier than ever to connect with your client’s financial life. Today, hundreds of institutions, thousands of advisors, and millions of end-users rely on Quovo’s technology for account aggregation, bank authentication, and ongoing insights to build better financial futures.

MEDICI Analysis

Quovo is a financial technology firm providing investors with a set of portfolio tools in one data science platform. The platform offers applications and services for financial advisors, institutions, and fintech companies to aggregate and analyze financial account data.

Focus

PRODUCTS & SERVICES

Providing account aggregation, business intelligence and modular analytics & visualization products The platform helps in aggregating and analyzing the financial account data in a easier way.

MAIN CLIENTS

Fintech

Enterprises and Advisors

EXISTING PARTNERSHIPS

Prudina

Blueleaf (To Deliver Smarter Data to Financial Advisors Nationwide)

Vanare|Nest Egg (To Help Advisors Aggregate Client Data)

Advicent Solutions (To Accelerate Convergence of Personal Financial Management and Financial Planning)

Jefferson National (To Provide RIAs and Fee-Based Advisors)

PRIMARY PROBLEM SOLVED

Account Aggregation

COMMENT

The main value proposition is Quovo's data management dashboard, which gives advisors the ability to view clients’ held-away account assets.

Traction

VALUATION / MARKET CAP:

$66.67 M in 2017

People

FOUNDERS

Lowell Putnam

Michael Del Monte

Niko Karvounis

BOARD MEMBERS AND ADVISORS

Aaron Schumm

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Continuity Capital

F-Prime Capital Partners

FinTech Collective

Long Light Capital

Marty Bicknell

Napier Park Global Capital

Portag3 Ventures

Ron Carson

Steve Lockshin

KEY EMPLOYEES:

Lowell Putnam(CEO); Niko Karvounis(CSO); Michael Del Monte(CTO)

Momentum

FUNDED

YES

TOTAL FUNDING

$20.98 M

DATE OF LAST FUNDING

May 2018

TOTAL FUNDING COMMENT

The company is planning to use the fund to expand into the Canadian market(May 2018).

FUNDING SERIES

SERIES A  · $6.18 M  · Jul 2015

SERIES B  · $14.8 M  · May 2018

LISTED

NO

BASICS

STATUS:

Acquired/Merged

FOUNDING YEAR:

2010

LOCATION:

United States

Views:

87 VISITORS | 148 VIEWS
LATEST FUNDING ROUND

$21 M

TOTAL EMPLOYEES
51-200

About

Quovo is a data platform providing insights and connectivity for millions of financial accounts across thousands of institutions. With industry-leading APIs, modular applications, and enterprise solutions, Quovo makes it easier than ever to connect with your client’s financial life. Today, hundreds of institutions, thousands of advisors, and millions of end-users rely on Quovo’s technology for account aggregation, bank authentication, and ongoing insights to build better financial futures.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Quovo is a financial technology firm providing investors with a set of portfolio tools in one data science platform. The platform offers applications and services for financial advisors, institutions, and fintech companies to aggregate and analyze financial account data.

Focus+
Momentum+
Traction+
People+
Other+

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Quovo

About

Quovo is a data platform providing insights and connectivity for millions of financial accounts across thousands of institutions. With industry-leading APIs, modular applications, and enterprise solutions, Quovo makes it easier than ever to connect with your client’s financial life. Today, hundreds of institutions, thousands of advisors, and millions of end-users rely on Quovo’s technology for account aggregation, bank authentication, and ongoing insights to build better financial futures.

Focus

PRODUCTS & SERVICES

Quovo is a data platform providing insights and connectivity for millions of financial accounts across thousands of institutions. With industry-leading APIs, modular applications, and enterprise solutions, Quovo makes it easier than ever to connect with your client’s financial life. Today, hundreds of institutions, thousands of advisors, and millions of end-users rely on Quovo’s technology for account aggregation, bank authentication and ongoing insights to build better financial futures.

TOP PROBLEM SOLVED

Account Aggregation

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

People

FOUNDERS

Lowell Putnam

Michael Del Monte

Niko Karvounis

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Lowell Putnam

CTO, FOUNDER: Michael Del Monte

FOUNDER: Niko Karvounis

employee: Lowell Putnam(CEO); Niko Karvounis(CSO); Michael Del Monte(CTO)

BOARD MEMBERS AND ADVISORS:

Aaron Schumm

INVESTORS:

Continuity Capital

F-Prime Capital Partners

FinTech Collective

Long Light Capital

Marty Bicknell

Napier Park Global Capital

Portag3 Ventures

Ron Carson

Steve Lockshin

Momentum

FUNDED

YES

LISTED

NO