PitchIt @ LendIt Europe is one of the industry's most popular startup competitions providing eight finalists with unparalleled access to industry expertise and funding opportunities as well as invaluable exposure, branding and more at the event; hosted in partnership with Startupbootcamp, the event offers fast-track status to the finalist round for Startupbootcamp Fintech Accelerator as one of its prizes; LendIt also announced this week that it will partner with SeedInvest to crowdfund live from the PitchIt @ LendIt Europe competition; interested startup companies must submit their application by September 4 and finalists will be announced on September 10; more details about the competition can be found here. Source
Remittance fintech Remitly has announced it has raised $85 million in equity at a $1.5 billion valuation, an up round...
Allfunds Blockchain, the arm of Allfunds specialising in the creation of digital solutions for the funds industry supported by blockchain technology, and Renta 4 Banco (‘Renta 4’), a leading Spanish Bank, have successfully executed the first orders of Renta 4’s new tokenised Spanish fund within the framework of Spain’s Regulatory Sandbox initiative.
Innovate Finance is out with numbers on UK fintech investments in the first quarter sourced from Pitchbook; overall investments totaled...
A report from P2P lender BondMason says wealth managers are becoming more aware of and comfortable with marketplace lending investments; over half of wealth managers would now recommend marketplace lending investments as an alternative to mainstream cash products; institutional investors are also increasingly allocating to marketplace loans with over half of the product's investments attributed to institutional investors. Source
During the pandemic, challenger banks and fintechs tripled their share of the credit card market and grew their personal loan books by 50%.
The Responsible Business Lending Coalition (RBLC), a group that includes online lenders LendingClub (NYSE:LC) and Funding Circle, has issued a statement in support of legislation introduced in both the US House and Senate. The Small Business Lending Disclosure Act of 2021, is described as establishing 'common-sense
Will revenue-based financing startups, which raked in millions last year for "founder friendly" alternative financing, survive a recession?
Lending startup Bloom Group has secured £300m in funding round led by Credo Capital Partners and funds managed by Fortress Investment Group.
Revolut announced the acquisition of ePOS software provider Nobly POS to expand its offering to serve the restaurant and hospitality sectors.