African fintech platform Finclusion Group has secured $20million in a funding round with leading fintech debt financing provider, Lendable. Read...
Germany's GLS Bank has launched an equity crowdfunding platform through collaboration with CrowdDesk; GLS Bank will do the due diligence for the platform's investments and CrowdDesk will primarily focus on the technical infrastructure and business services; the deal sets a precedent for bank crowdfunding partnerships in the equity crowdfunding space and will provide company financing for up to 2.5 million euros ($2.67 million). Source
Russia's invasion of Ukraine triggered a rapid wave of sanctions, bringing challenges for financial services firms looking to stay compliant.
The financial wellbeing app’s series C fundraise will be used to expand services for underserved, financially stressed workers.
Vibrant sees mobile POS systems as an essential tool for micro SME recovery. They plan to support the 10 million European merchants.
The European Commission is developing new legislation that will help fintech companies, in particular crowdfunding sites and online lenders, operate and scale across single market member states; the idea is meant to create a digital single market, removing what some countries add on within their jurisdiction; this move could help propel funding for fintech companies and increase their ability to compete with companies in the US and Asia. Source.
The London-based startup that focuses on millennials raised 450,000 British pounds in seed funding from Passion Capital, with participation from Jason Butler; the funds will be used to build out the team and continue product development on Finimize MyLife; the company's Finimize MyLife product is a free online financial advice platform for millennials that provides anyone with a detailed and personalized financial plan guided by research and algorithms. Source
While P2P lending platforms have taken a significant amount of lending from banks since the financial crisis, data from the Financial Times suggests that growth could be slowing; an Ernst & Young survey shows only 7% of 1,100 people using P2P lending platforms for borrowing and a separate survey from Blumberg Capital says only 4% of 1,050 British adults have used the platforms in the past 12 months, signaling less awareness and demand; banks have also increased investment in fintech regaining some market share; overall, the Financial Times reports that the market in the UK is changing with regulations supporting P2P lenders but less demand and market risks slowing growth. Source
According to new reporting by Sifted and Finance Forward N26’s exit from the UK was not due to Brexit but...
By using open banking technology, SMEs using Microsoft Dynamics 365 cloud-based enterprise software platform will be able to access and unlock financing offers without leaving their business management platform.