This sudden surge comes just as NFT innovators are beginning to reimagine what it means to engage in online collection or digital ownership.
Growth Street has appointed Greg Carter to CEO; Carter is a founder of the firm and has been the firm's chief risk officer since its launch; Carter will replace James Sherwin-Smith who has been CEO since the firm launched in 2015; Growth Street is a UK lender focused on SME business lending; it markets returns of up to 6.5% and provides a range of business lending products including working capital loans of up to 500,000 British pounds ($623,763); in 2016 it reported loan originations of approximately 54 million British pounds ($67.37 million). Source
UK-based Growth Capital Ventures (GCV) has received a 1.1 million British pound ($1.37 million) investment from Maven Capital Partners; GCV will use the funds to develop a new P2P lending platform and for expansion of its current crowdfunding solutions; the firm focuses on crowdfunded investments in real estate, clean energy and technology. Source
The FT is reporting that growth has slowed dramatically in recent years for Amazon’s small business lending operation; citing the...
Members of the Peer-to-Peer Finance Association are approaching £10 billion in lending; Peer2Peer Finance News digs into the companies with...
Aaron Hughes, Managing Director of Equiniti Riskfactor, provides insight on the growth of the UK receivables market; the market now has 40,000 to 45,000 clients; with a growing number of clients the industry is focusing on new technologies for greater efficiency and processing; Aaron Hughes says Equiniti Riskfactor is also testing a blockchain prototype for receivables finance that can even further advance platform efficiency. Source
UK digital bank startup Monzo has listed a new crowdfunding campaign on Crowdcube and is seeking to raise 2.5 million British pounds ($3.09 million) as part of a broader fundraising for a total of 22 million British pounds ($27.18 million); Business Insider provides details on growth plans outlined in the crowdfunding campaign; Monzo is currently showing a seven year plan to an initial public offering which will include an estimated 75 million British pounds ($92.67 million) in new capital in the next five years; Monzo says it will raise capital again in May 2018 and it expects to report a profit after 2020; the firm has been granted a banking license and will begin offering deposit accounts as well as overdraft lending which it expects to help improve profitability. Source
P2P lending platform, Growth Street, has received registration as an appointed representative by the Financial Conduct Authority and will partner with Resolution Compliance; the new registration and partnership allow it to expand its product offerings to individual investors; the expansion of investors helps the company to offer loans to even more small and medium enterprises; the company primarily lends to businesses through its GrowthLine business overdraft product. Source
One of the key components for open banking is being able to access data from other providers around the clock;...
Growth Street has originated over $67.44 million since its launch in November 2016 with a new CEO and two new executive hires; the firm has now reported 600 new investors on the platform in the five months since its launch; Growth Street provides financing for UK SMEs; the short term financing options appear to be a factor attracting investors; the platform matches borrowers and lenders for 30 days and also allows investors to withdraw funds with notice of 30 days. Source