The Series C fundraising included $40 million in equity and a $200 million debt facility; the platform provides post-graduate loans to international students; it plans to use the funding to expand globally and offer more loans. Source
SumUp has raised a €590 million funding round that gives the company an enterprise value of €8 billion following a decade of rapid growth and global expansion.
UK-based financial technology company SumUp has secured €590m in a financing round led by investment firm Bain Capital Tech Opportunities.
Global financial technology company SumUp has revealed the year in review for small business and nano merchants in the United Kingdom.
SuperFi believes they are needed now as the UK faces a consumer debt crisis on an unprecedented scale.
Visas, donations and industry coordination is starting to build up.
A survey from TWINO and KPMG provides statistics on alternative lending market trends in Europe; says UK alternative lending volumes are four times higher than the rest of Europe; consumer loans account for 72% of online lending in Europe; the European online alternative lending market has grown by 23% since the end of 2015, reaching lending volume of 600 million euros ($623.39 million) as of September 30, 2016; UK has 81% of market share; geographic location across Europe is becoming less of a factor as advanced technologies are the main driver for platform success. Source
The country's central bank says it wants to understand the technical options before taking a decision on issuing a CBDC.
The Swedish Financial Supervisory Authority (FI) has granted a key licence to TF Bank's Swedish subsidiary TFB Service.
The world's oldest central bank is now looking to the future; Riksbank is looking to issue a national digital currency as they have seen a 40% drop in use of notes and coins since 2009; they do not view the digital currency as a replacement for notes; the new currency would be viewed as complementary; challenges lie ahead as there is no blueprint for this; Cecilia Skingsley, deputy governor at the Riksbank, told the Financial Times, "This is as revolutionary as the paper note 300 years ago. What does it mean for monetary policy and financial stability? How do we design this: a rechargeable card, an app or another way?" Source