Italian invoice trading platform Workinvoice has packaged 5 million euros ($5.31 million) worth of receivables financed through its platform in a securitization vehicle; the receivables portfolio was purchased by Italian portfolio manager Factor@Work; the securitization deal represents a new source of capital interest for the invoice receivables market. Source
The Financial Conduct Authority's P2P lending standards have caused only 40% of P2P loans to be covered under the HM Treasury's 36H regulation; 36H regulation is a compliance factor that P2P firms are concerned with; the differing definitions involve the matching of the loans; the complex process of institutional pre-funding and subsequent loan matching has been a factor resulting in discrepancies between the loan matching definitions from the 36H regulation and the Financial Conduct Authority's definition. Source
Last year SoftBank agreed to make a €900mn investment into Wirecard; as part of the deal they were going to...
In efforts to reach net-zero objectives, fintech's engagement with scope 3 emissions could be the missing link.
The bank wants to engage with sports, e-sports, and gaming fans on the metaverse.
The article discusses recent news of decreasing valuations of GLI Finance backed companies, potentially higher losses on Zopa's platform and troubles at Wellesley & Co. Source
Growth Street has appointed Greg Carter to CEO; Carter is a founder of the firm and has been the firm's chief risk officer since its launch; Carter will replace James Sherwin-Smith who has been CEO since the firm launched in 2015; Growth Street is a UK lender focused on SME business lending; it markets returns of up to 6.5% and provides a range of business lending products including working capital loans of up to 500,000 British pounds ($623,763); in 2016 it reported loan originations of approximately 54 million British pounds ($67.37 million). Source
In just one year after launch RateSetter has brought in £175 million through their first ISA product; the cash invested...
Investment in regtech companies has reported a 38.5% compound annual growth rate over the past five years with a record $678 million invested in 70 companies in 2016; globally London has taken the lead reporting the greatest number of investment deals from 2012 to 2016 at 39; anti-fraud companies have been increasingly receiving greater investment with $334.8 million in 2016 accounting for 49.4% of total regtech investment. Source
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