Elfin Market is a London-based peer to peer lending platform and they have launched a new physical credit card in...
Allica Bank, a UK-based bank for SMEs, has secured £55m in additional funding, following on from the £110m Series B funding round last November.
Funding Circle announced they passed the milestone last year; CEO and Founder Samir Desai stated, “We were pleased with the result for the group. Overall we improved our loss margin. The UK business became cashflow positive in Q4 of 2016 and continues to generate positive cashflow in the first half of the year.” he added, "As we've said many a time, we believe that our business should be a public company as well because that fits with our values of transparency and being open, and allows us to take our service to more and more people as well."
Other highlights include:
- Operating expenses rose by 43% to £103.1 million;
- Losses dipped by 3% to £35.7 million thanks partly to a foreign exchange boost;
- £1 billion lent last year;
- Loans outstanding rose by 61% to £1.37 billion;
Financial technology firm, Ramp became the latest fintech to hit the valuation of $8 billion after the company secured $750 million in funding.
Tandem Bank released an update saying an IPO was in their plans over the next few years as they focus...
Even with Brexit fast approaching the UK fintech investment market showed no signs of slowing down with investment setting a...
nCino will acquire SimpleNexus for around $240 million in cash and approximately 13.2 million shares of nCino stock.
Traditional stock trading firms are beginning to feel the pressure from fintech startups who offer in many cases free trading...
The new industry association called Digital Finance Forum was founded by Christian Faes and Ian Thomas; it aims to bring...
The LIM Asia Special Situations Master Fund has increased its ownership in the Ranger Direct Lending Fund to 9.2% from 5.48% reported in July; the Ranger Direct Lending Fund is primarily focused on high yield direct lending platforms; it has recently been troubled by its exposure to losses from marketplace lending platform Argon Credit which it invested in indirectly through the Princeton Alternatives Fund. Source