UK consumer lending platforms reported originations of 154 million British pounds ($191.81 million) in January which topped a previous high in September 2016; Zopa led UK consumer lenders in January with originations of 80 million British pounds ($99.64 million); other consumer lenders contributing to the January record included RateSetter, Lending Works, Funding Secure and Lendable. Source
Nutmeg will offer clients five portfolio options with automated rebalancing to client risk profiles; platform is also updating its fees to a two tiered fee structure; new fees are 75 bps on the first 100,000 British pounds ($120,310) and 35 bps on anything above that; the individual investment strategies also include fees ranging from 13 to 22 bps; the changes follow private market capital investment of 42 million British pounds ($50.53 million) in 2016. Source
Scalable has reached 100 million British pounds ($121.72 million) in assets under management for its robo advisory services; the firm has been averaging new business of 5 million British pounds ($6.09 million) per week and has over 2,500 customers; it offers low fees and daily investment monitoring with risk focused algorithms. Source
The Series D round, led by Fidelity International Strategic Ventures, brings the total funding raised to date by Moneybox to £95 million.
The UK first created a regulatory sandbox in 2016; the Financial Conduct Authority is now seeking feedback on whether it should expand their sandbox globally; fintechs would benefit by having the ability to test in other countries and regulators could work together on some of the issues related to companies seeking to operate across borders; the FCA stated, "The overall approach would be to better understand and solve common regulatory problems, as well as being more helpful to firms who have aspirations to grow at scale in multiple markets." Source
UK small business lender iwoca, citing a data from industry body UK Finance, claim to have a 12% share of...
According to a new survey by Starling Bank UK based small businesses spend about 15 hours a week or 10...
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A report from marketplace lender Funding Options says UK SMEs owe $3.25 billion in value added taxes (VAT); a leading factor affecting tax payments is late B2B payments creating an even greater opportunity for alternative financing in the region; Funding Options is promoting alternative solutions to help SMEs better manage their business taxes. Source
Forbes interviews Francesca Carlesi, the CEO of Molo which claims to be the UK’s first fully digital mortgage lender; the...