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Europe

·Nov. 29, 2016

MarketInvoice Funds 1bn British Pounds in Invoices

MarketInvoice has reached a 1 billion British pound invoice funding milestone; in the past 14 months it has financed 500 million British pounds of invoices; just recently reaching the 1 billion British pounds funding milestone, it reported invoices funded of 958,029,836 British pounds as of October 31 with a total loan amount of 765,451,443 British pounds; the company has been in business since 2010 with a total of over 20,000 transactions; it currently offers loans of 10,000 British pounds to 3 million British pounds for company invoices. Sources

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Europe Fintech News Roundup

·Aug. 23, 2017

Shares of UK Subprime Lender Provident Fall 70% after Profit Warning

The company is estimating a full year loss and its CEO has resigned; it is also being investigated by the FCA and cutting its dividend; the surprise estimates and regulatory investigation are key factors influencing the stock market losses; the company serves 2.4 million customers through a door to door lending process with a focus on the underbanked. Source

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Europe

·Apr. 14, 2022

PitchIt Podcast #47: Nelson Chu of Percent

On episode 47, I talk with Nelson Chu of Percent, founded with the belief that alternative investments should be more transparent.

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Europe

·Dec. 10, 2021

Klarna launches browser extension with payments and coupons

Fintech startup Klarna is launching a desktop browser extension that provides many of the features that you can find in the company’s mobile app — but on your computer. In addition to the ability to manage your Klarna payments, the extension automatically applies coupon codes when you’re on a checkout page. Klarna has acquired Piggy...

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Europe

·Jun. 23, 2022

Apple Pay Later: Will It Make or Break BNPL?

Apple has recently announced its plans of launching Apple Pay Later in September. How will it challenge the existing BNPL players?

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Europe Fintech News Roundup

·Mar. 21, 2017

UK Digital Bank Tandem Loses License to Take Deposits

In the midst of getting ready to launch in a few weeks the UK digital bank Tandem is now unable to launch with savings accounts; the bank was approved in 2015 for a banking license so long as they fulfilled a number of criteria including hiring a board, building out sufficient technology systems and raising enough capital to cover losses; the final point is where the bank was unable to comply, they fell short of raising enough capital and now are forced to launch without the savings feature; Tandem was expecting 29 million British pounds ($36.1 million) from House of Fraser, the UK department store chain that was bought by China's Sanpower Group, but Sanpower was worried about capital restrictions coming out of China so they pulled the funding. Source

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Europe Fintech News Roundup

·Aug. 23, 2017

Estonia to Potentially Raise Money through ICO

The European country is considering a coin offering that would include the issuance of estcoins; the offering would build on the country's progressive innovation in technology and specifically its e-Residency Program; Kaspar Korjus, director of Estonia's e-Residency program, has been a leading proponent for the ICO and the country is also supported by ethereum founder Vitalik Buterin; funds from the ICO would go towards investment in new technologies for the public sector as well as invest venture capital into Estonian companies. Source

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Europe Fintech News Roundup

·Nov. 7, 2016

UK Digital Bank, Tandem Bank, Begins Limited Trial

The startup will open up their new bank to 10,000 "co-founders" to begin using their banking services with hopes of a public release in 2017; the bank is looking to help people manage their money and not bombard them with product sales; founder and deputy CEO, Ricky Knox, says this is its "first step" and that it plans to "grow into a full-service bank" in 2017. Source

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Europe Fintech News Roundup

·Nov. 28, 2016

UK Reports 2.4bn British Pound Financial Innovation Investment in Its Autumn Statement

In its annual Autumn Statement, the UK Treasury reported investment of 2.4 billion British pounds for research and development in financial innovation; 2 billion British pounds will be allocated to an innovation fund and 400 million British pounds will go to a venture capital investment fund managed by British Business Bank; in comments regarding the Autumn Statement, Chancellor of the Exchequer Phillip Hammond said the investment was to help the UK continue "leading the world in disruptive technology." Source

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Europe Fintech News Roundup USA

·May. 3, 2019