Here are the most read news stories from our daily newsletter today: Gr4vy Partners with Banked and GoCardless to Deliver...
Funding Circle has replaced German Managing Director Matthias Knecht who joined Funding Circle with the acquisition of Zencap and then left the firm in June of 2016; Thorsten Seeger will take the role of managing director; the firm has also hired Belkacem Krimi as chief risk officer for continental Europe; Funding Circle will also be closing its lending business in Spain which it acquired with the purchase of Zencap. Source
Klarna has doubled its customer base in the United States to over 21 million customers.
European based digital bank N26 has raised a new series D round of $300mn at a valuation of $2.7bn; Insight...
Orange is a large French telecom company located in France; users will be able to create an account in an Orange store or completely online; service will be open to non-Orange customers; there will be no monthly fees provided users use their attached payment card; Orange has also partnered with IBM's Watson to provide user support and is also working to add insurance products and loans to the service. Source
The Ranger Direct Lending closed-end fund is seeking to raise £40 million through the sale of new shares; fund is currently at £236 million; company will offer new C shares in December; the fund's last two share offerings have been for Z shares with trading symbol ZDP; the Ranger Direct Lending Fund has been steadily leading returns for UK marketplace lending funds in 2016. Source
This marks a first for a UK bank to launch a biometric fingerprint card; it is currently in pilot phase...
Cryptocurrency exchange FTX has launched a $2 billion venture capital fund that will invest in firms pushing blockchain and web3...
Artificial Intelligence (AI) is becoming ever more integrated into the financial services sector, but how much further can it continue? Data, computing and social acceptance are some of the many reasons why its growth is being restricted.
The listed fund has reduced new investment into fintech companies over the past year from £44.4m to £16.4m.