The company has launched two offerings: ‘pay in 5’ for purchases between £1 and £500, and ‘Pay in 12’, for purchases between £500 and £3,000.
Estonia-based marketplace lender, Bondora, has announced plans for a new business model and system design that will change the way the company services its borrowers and investors; the changes will involve a new system design for borrowers and investors; according to Bondora, splitting the business into two separate parts will allow for greater pricing efficiency and better reporting and analytics. Source
Penta is a German based fintech company that is looking to improve business banking with their Compass platform; Penta is streamlining the process to allow founders the ability to open up an account in less than 15 minutes; further features will be added in the coming months to assist founders with other registration and legal issues related to starting a small business. Source
Online consumer lender 4finance has raised $325 million from an issuance of bonds; the bonds are senior unsecured, five-year fixed rate notes issued with a 10.75% yield at par; the firm will use the proceeds for debt restructuring, business development and corporate management. Source
Caroline Pham, the Commissioner of the CFTC, recently talked elaborately about the regulator’s plans for cryptocurrency regulations.
When Tandem Bank acquired Harrod’s Bank in August there were three main reasons for the move; FT Alphaville reports Harrod’s had a banking license, the deal came with a $13.4mn capital injection to fund the company through to deal approval and an additional $107mn from existing investors. Source.
CEO Brad Paterson Of Fintech Upstart Splitit On The Future Of E-commerce, Payments, Fintech, And BNPL (By Now, Pay Later)...
When asked about the crypto winter and her worries, she focuses on the cyclical nature which makes crypto resilient and able to survive.
The construction sector accounts for approximately 16% of invoices financed on the MarketInvoice platform and issues from construction company Elimco UK have uncovered some new potential risks for the sector; Elimco UK has stopped making payments to the platform; in most cases MarketInvoice as the lender would receive preferred rights to the company's payments however in the construction sector set off rights give the customer preference of payment which has caused the construction company to default with MarketInvoice; the total amount of losses reported for MarketInvoice has not been disclosed; the company says its overall loss rate is 2.4% after recoveries; the firm also says it does not have plans for data filtering by industry category since it would lead to cherry picking loans. Source
A new report out by Beahurst has recognized crowdfunding platform Seedrs as the most active UK equity investment platform; they...