According to a new report by CB Insights global fintech funding reached $5.4bn across 323 deals in Q1 2018; deal activity was highest in the U.S. and Asia, Europe on the other hand fell to a five quarter low; early stage companies in Europe were not receiving investments, though later stage companies were still having success; regtech, wealth management and digital banking led the way, while online lenders lagged behind. Source.
With auctions that cross the $5 million per NFT on average, questions arise about the legal status of NFTs globally.
Revenue-based financing platform, Bloom recently announced that the company has secured £300 million in its Series A investment.
Tearsheet digs into how Revolut generates cash; the startup announced it broke even in December with 1.5 million customers and monthly transaction volume of $1.5 billion; this represents a 700% increase in 12 months; Dan Westgarth, head of Revolut USA stated, “Our revenue model globally is payments-centric. We receive renumeration every time our card is used; that’s what keeps our business afloat, and we’re wrapping around on top of that third-party services, and we have a business and corporate product.” Source
The U.K. has closed its public buy now, pay later (BNPL) consultation, although the path towards a regulated legal framework is still unclear.
New marketplace lending real estate platform Credit Peers has launched for investors with a minimum investment of 500 British pounds ($618.64); the firm is offering individual investors the opportunity to invest in commercial real estate properties; the platform elicits borrowers for commercial properties including multi-residential, office and retail buildings; it plans to focus on connecting individuals with investments in the commercial property market. Source
Wirecard’s long time chief operating officer is said to be on the run according to former colleagues who said he...
Steven, the Swedish expense sharing app, has recently released a card to support the platform as they evolve further, addressing the need to split household bills.
Despite initial concerns over risks from Brexit, the UK's Funding Circle has been growing significantly; Funding Circle is one of four firms Bloomberg plans to follow throughout the Brexit process which will begin when Prime Minister Theresa May triggers Article 50 of the EU Treaty; for Funding Circle, results following the Brexit vote in June have been overwhelmingly positive; in the second half of 2016, originations increased 50% from 2015 to 530 million British pounds ($685 million) and in the fourth quarter of 2016 the firm's UK division reported its first net profit; while some funding challenges and employee visa risks still remain, the firm's business seems likely to continue its positive trajectory; low rates on fixed income investments in the UK and slowed bank lending to small businesses appear to continue as leading factors for the firm's growth. Source
LendIt has announced the judges for its annual PitchIt @ LendIt Europe competition to be held on October 9 and 10; judges include Rob Moffat of Balderton Capital, Reshma Sohoni of Seedcamp, Dan Cobley of Blenheim Chalcot and Patrick Meisberger of CommerzVentures; in comments regarding the competition and its judges, Jason Jones, co-founder and chief executive of LendIt, said: "The high caliber of judges we've had over the years is a testament to how the competition has evolved, and it's inspiring to see another strong panel taking to the stage for the competition. I'm confident that their diverse professional backgrounds will see one of the most exciting PitchIt competitions yet." Source