N26 announced last week that they were leaving the UK market due to Brexit and their customers have shown significant...
German based Raisin has raised $114mn from Index Ventures and PayPal; the wealth tech startup helps customers find accounts with...
RateSetter has created a new committee to monitor and report on expected losses providing increased transparency for the firm; the committee will include RateSetter's CEO, CFO and various other directors of consumer and commercial credit risk; the committee will provide quarterly reporting on expected losses for the board of directors and also plans to publicly disclose data on its website; additionally the firm plans to enhance its performance reporting with more details on materialized and expected losses; overall, new initiatives around risk monitoring are an effort to more accurately analyze and manage risk following higher than expected losses from loans in 2014 and 2015. Source
On Tuesday, Denver-based online lender Funding Circle launched a partnership with DreamSpring, to increase access to funding for SMBs.
Institutional Venture Partners (IVP) has also invested in Netflix, Snapchat and Twitter; with the newest round of funding the company's value is expected to increase to over $1 billion; it has previously raised a total of $116 million; the firm is currently doing more than GBP1 billion ($1.29 billion) of transfers per month on its platform; new initiatives include opening a Singapore office, launching a borderless business account and adding its service to Facebook Messenger. Source
Veritas is a specialist in commercial credit management services; through the partnership, MarketInvoice will be available to customers using the firm's VeritasVirtual platform; clients use this platform to monitor the status of outstanding payments and will now be able to obtain access to the MarketInvoice Pro credit line through the VeritasVirtual platform. Source
Zhengyuan Lu, OnDeck's Senior Vice President of Capital Markets, will soon move to investment firm, Victory Park Capital; his last day is Tuesday; Victory Park invests in and provides credit facilities to online lenders, including Avant Inc. and Square Inc.; the last year has been a challenge for OnDeck as investors have not been buying loans at the same pace and this has forced the lender to hold more loans on its balance sheet. Source
Innovate Finance and the Financial Conduct Authority have published a preview report on the UK Fintech Sandbox with a full report planned for May 2017; the preview report provides insight on the benefits of fintech sandboxes and how they can promote innovation while also helping to facilitate regulation. Source
The French startup called Kard is similar to many of the challenger banks today except that they are targeting a...
TSB has partnered with FinTech Cogo to add carbon monitorin