Iam Bank to expand its Chicago office
Iam Bank announced on Monday that its Chicago office/global headquarters would grow to 300 people. The virtual bank startup was founded by Irish entrepreneur and fintech veteran Lee Travers in 2016. It’s designed to be a tech-focused alternative to traditional banking, although it will still operate physical branches. The company uses custom algorithms and machine learning to help users optimize their spending and make more informed financial decisions. [Press release]
2018 tech funding crosses the $400-million mark
Chicago tech companies raised $161 million in March, with Tempus claiming the month’s biggest round — a whopping $80 million Series D. Through the first three months of 2018, local tech companies have raised $419 million in new investor capital. Through the same time period in 2017, that figure was just north of $300 million. It’s still too early to call, but this year is looking good from a funding perspective. [Built In Chicago]
Illinois’ university startup scene is stronger than ever
More startups than ever before are being founded by students and faculty members of Illinois’ universities than ever before. That’s one of the key takeaways from a new study published by the Illinois Science & Technology Coalition, a nonprofit dedicated to building up the state’s innovation economy. The organization counted 942 startups launched between 2013 and 2017. Of those, 566 are active and still based in the state. [Illinois Science & Technology Coalition]
Tech companies welcome new executives
Gérard Danjou is Reverbs’s new global operations director. He will be responsible for growing the company’s business in both the EMEA and APAC regions. Danjou was most recently executive vice president of global business development at Gibson. Yes, we’re talking about that Gibson, the one that makes guitars. [Press release]
Mike Perez is the new COO of STATS. Perez joins the company from the Tidewater Group, a management consulting firm based in Washington D.C. that he founded.
“STATS already has a sterling reputation, and my goal is to help expand its footprint in the industry and build upon the standards it already has set,” he said in a statement. [Business Wire]
LimeRed launches fellowship for socially conscious entrepreneurs
On Tuesday, LimeRed announced the launch of a new fellowship program designed to help social entrepreneurs build their businesses. The two entrepreneurs chosen for the initial cohort, Julia Mayer and Gabriela Fitz, will receive free access to workspaces at the firm’s studio for six months. They will also take part in personalized coaching sessions led by LimeRed’s founder, Emily Lonigro, and its design strategy director, Demetrio Cardona-Maguigad. [LimeRed]
