Assetz Capital is a large P2P lender in the UK and now has authorization from the FCA; the company has lent more than GBP316 million ($410 million) to businesses and is now working on the final stages of its Innovative Finance ISA which it expects will be available in Q4 2017; Stuart Law, CEO of Assetz Capital, stated: "Our cautious approach of employing a world-class credit underwriting team and taking realisable security on loans is essential for our investors' peace of mind. Our focus remains to ensure the growth and security of our lenders' investments, as well as the success of our borrowers' businesses. Our team has done fantastically well to deliver such success to all of our stakeholders over the last few years and yet there is also so much more to achieve ahead of this milestone and we are all excited about the continuing journey." Source
Assetz Capital-as-a-Service (ACaaS) allows for full integration of the Assetz Capital API into websites and apps; the integration allows users to integrate the Assetz Capital peer-to-peer lending platform into other financial services businesses; UK financial account aggregator Bud is the first to integrate the solution with enhancements planned for the partnership; Assetz Capital is the the UK's second largest peer-to-peer finance platform for business and property and the firm says the solution will help increase visibility of the platform to a broader target market. Source
UK-based P2P lending platform Assetz Capital has announced a promotional interest rate increase for investors in its 30 day access account; investors will receive a 4.75% rate of interest for up to 90 days after investment through May 11; the promotion adds 50 basis points to the current rate on the account with interest paid monthly. Source
Originations for Assetz Capital reached a new high in November; for the month, the platform originated 26 million British pounds bringing its total originations to 100 million British pounds for 2016; according to the firm, it is now the third largest business and property P2P lender in the UK. Source
Assetz Capital has now been in business for four years with 240 million British pounds ($307.61 million) in loan issuance; the platform focuses on lending for SMEs and says it plans to double its current originations in the next twelve months; the firm offers secured loans that generate annual returns of 3.75% to 18%. Source
The Association of Alternative Business Finance (AABF) has added three new alternative lenders to its membership; new members include Invoice Cycle, Merchant Money and Reward Finance Group; launched in February 2017 the AABF seeks to support UK alternative lending for small businesses. Source
Atom Bank, a digital-only bank, has been growing significantly, now announcing a new mortgage offering; the company will offer residential mortgages through brokers; adds to its small business lending product; company recently announced it has 100 million British pounds in deposits; in the UK it is one of the region's most well-funded digital-only banks with over 135 million British pounds of capital raised from company investors. Source
After launching as savings product two years ago the app only bank is approaching £1bn ($1.3bn) in deposits; after disclosing in March they were at 17,000 customers and over £500mn ($663mn) they have seen a significant acceleration in growth; they also reported growth in small business loan applications and mortgages. Source.
Atom Bank has raised $102 million in new capital from Spanish bank BBVA who also led a previous funding round in 2015; the company plans to use the funding for business and product development including lending services; the digital bank's current products include: Fixed Saver accounts, mortgages, and secured loans for small and medium-sized businesses; the company is also reportedly working on another funding round and is currently valued at approximately $320 million. Source