As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect.
LendingCrowd has launched its innovative finance individual savings accounts (IFISA); the account has a minimum investment of 1,000 British pounds ($1,250); the account investment will be automatically allocated to a portfolio of LendingCrowd loans; the portfolio will target a rate of return of 6% for its investors; the IFISA product has been well received with the Lending Works IFISA launch attracting more than 500,000 British pounds ($624,850) within three hours. Source
Swisscom has released the updated Swiss Fintech Startup Map for December 2021, welcoming 6 new Swiss startups for the month.
The marketing initiative coincides with the firm's recent rebranding announcement and is part of the company's "Made to Do More" campaign; it is spending GBP12 million ($15.51 million) across media and specialist channels with a focus on business borrower and capital investor awareness; the firm has been a market leader in investment deals in 2017 recently announcing a partnership with Aegon and reporting a $100 million fundraising in January. Source
Codat, the API enabling SMEs to share and synchronize financial data, has today announced its foray into the Australian market.
The FT has seen regtech as one of the fastest growing areas of fintech with a surge of applications to their Future of Fintech awards; new regulations such as the EU’s Mifid II rules, increased compliance and KYC checks by financial institutions looking for more cost efficient ways to verify customers has helped to bring new startups into the market; fintech has moved well beyond lending and the diversification of the market continues to grow. Source.
P2P ratings and research firm 4thWay has released a list of the UK's top P2P lenders by loan originations; Zopa, FundingCircle and RateSetter lead the market with originations nearing 2 billion British pounds ($2.46 billion); UK property lender Wellesley, which has reportedly been struggling for capital, tops the list with 366.5 million British pounds ($451.48 million) in loan originations. Source
SMEs have been buffeted by the winds of COVID-19 and heightened inflation, and now comes the storm of political instability.
Real estate P2P lending platform Octopus Choice has received full authorization from the Financial Conduct Authority (FCA) in the UK; the FCA approval now allows it to begin the process for offering innovative finance individual savings accounts (IFISAs) for investors; the firm has been in business for nine months; it currently provides secured loans to residential property borrowers. Source
Bud, a UK-based provider of open banking solutions, has announced the completion of its Series B funding round, in which it raised $80 million.