What are key fintech hubs across the Middle East and Africa (MEA) region? 22 countries across the region were analysed and compiled.
Oxygen, a startup that is bringing digital banking services to freelancers and micro- and small-sized businesses, is in talks to raise a new round at a valuation of over $500 million, two sources familiar with the matter told me. The San Francisco-headquartered firm is in advanced stages of talks to raise about $70 million, the...
UK listed marketplace lending fund, P2P Global Investments, has reported struggling performance in 2016; monthly return in September was 0.23% for a year-to-date return of 3.41%; target annual return is 6% to 8%; peripheral factors such as debt facilities and currency hedges have affected the return; the fund is now selling at a discount of 19.8%; has been steadily buying back shares to help improve the NAV and also using securitization to reduce debt costs; loan defaults and delinquencies have been higher as a result of longer maturities, however the primary factor affecting the return is the broad global diversification of the loans resulting in losses from currency hedging. Source
The P2P Global Investments Fund has assets under management of GBP833 million ($1.07 billion) and reported an increase of 0.55% in its March NAV; total NAV return for Q1 2017 was 1.18% and the Fund has decreased its discount to 15%; the Fund has been continuously evolving its strategy and is also reviewing its investment manager. Source
The P2P Global Investments Trust has reported February performance; NAV return of 0.38% was helped by the firm's current buyback program and is the 33rd consecutive month of positive NAV returns since inception; 12 month return is 3.92% and inception to date return is 14.20%; investment manager is actively diversifying to reduce exposure to US consumer loans and shift to European real estate and bonds. Source
P2P Global Investments’ NAV rose .78% in December and returned 5.2% in 2018; the UK-listed fund focuses on purchasing assets...
Collateral has announced plans to test a mobile app for borrowers and investors; the platform sees app development as a trend for the industry and will be one of the first platforms to offer a mobile app for both borrowers and investors; it also expects the mobile app to be a factor for managing competition with banks; Collateral is a secured personal property lender offering loans of GBP5,000 ($6,415) to more than GBP1 million ($1.3 million). Source
Small business P2P lender Lendix has announced expansion to Italy; based in Paris the Italy expansion follows expansion to Spain in 2016; Lendix has hired Sergio Zocchi who will be the CEO for the new Italy business based in Milan; as of December 31, 2016 Lendix had originated 57 million euros ($61.01 million) in loans; it is also rumored that the firm plans to continue its expansion across Europe in 2017 with a new office potentially opening in the UK. Source
The Bank of England decided to keep rates steady at 0.5 percent which will be a big benefit to P2P...
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