Wired interviews partner at Propel, Jay Reinemann about what makes a good fintech founder; coming out of the financial crisis...
The UK’s Financial Conduct Authority and Cyprus’s CySEC have issued warnings to retail traders on contracts for difference based on cryptocurrencies; CFD trading based on the digital currencies has started to become popular with the volatility in bitcoin; regulators are worried that retail investors will suffer significant losses and are looking to limit leverage as a result; this continues a worldwide trend by regulators as they get a handle on the growing crypto asset class. Source.
Robo-advisors are far less prevalent in Europe compared to the US; however this is a growing market particularly in the UK and Germany; the UK market is larger, but Germany is growing at a faster rate; total assets under management stand at $3.5 billion at the end of 2017 according to TechFluence; it is estimated that there are around 98-126 robo-advisor services in Europe; article shares the biggest robo-advisors in Europe and the major differences between markets. Source
The United Kingdom's Payment Systems Regulator (PSR) has reportedly put the card schemes on notice that it is looking into their fees.
According to new research by open banking platform provider Tink 41 percent of European banks failed to meet the latest...
Swedish based digital banking startup Tink has raised $64mn at a $270mn valuation; the new capital was led by Insight...
Habito has raised its Series B funding round, led by Atomico; existing investors Ribbit Capital, Mosaic Ventures and Revolutionary (Ad)Ventures also participated; total funding is now EUR27 million ($35.14 million) for the London based company; the company brings the mortgage process online, describing itself as a digital mortgage broker; one of their biggest competitors is Trussle; funds will be used to integrate with major retail banks and high street lenders; Habito also plans to expand offerings to other parts of the mortgage process including home and life insurance. Source
2019 was a hard year for the small business lender; Funding Circle fell out of the FTSE 250 after their...
Velocity Capital is a Dutch private equity firm planning to invest in early stage fintech companies through their new $120...
Online lender 4finance has reported its earnings for 2016 with an increase in revenue and net income; revenue increased 24% in 2016 to 393.2 million euros ($413.35 million); it reported another year of net profit with net income increasing to 63.2 million euros ($66.4 million), up from 58.2 million euros ($61.2 million) in 2015; in 2016 the company's net loan portfolio was 493.9 million euros ($519.21 million) and the average interest rate on its loans was 120%. Source