Marketplace lending platform Flender has reached its investment goal on Seedrs; firm has received investment of 500,000 British pounds ($608,680); the firm's crowdfunding campaign will close on January 17 and it plans to launch in the first quarter of 2017; the platform will provide innovative business credit services that facilitate lending through a borrower's social network. Source
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
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Federal Reserve Chairman Jerome Powell has reiterated the central bank would be...
Flexiti Financial has announced Diane Brisebois and Rick Padulo as the first two members of its advisory board; Diane Brisebois is president and CEO of the Retail Council of Canada; Rick Padulo is Chairman and CEO of Padulo Integrated, which provides multi-media retail communications services; Flexiti Financial is a growing provider of point-of-sale financing technology for retailers and recently received the Emerging Consumer Lending Platform award at LendIt USA 2017; its new board advisors will seek to support the firm's growth and advise the firm on its strategy for business development and retail expansion. Source
Leading Canadian point-of-sale (POS) platform Flexiti Financial raised an oversubscribed CAD$6.25 million (USD$5 million) convertible debt offering; they will use the capital to accelerate growth and improve technology; according to Flexiti Financial Founder and CEO Peter Kalen: "Retailers across Canada are looking for unique solutions to increase sales and maintain customer loyalty in a highly competitive and shifting market. Flexiti Financial's POS lending platform has become an important tool in their sales arsenal, and this investment will help us better serve our retail partners while managing our growth across Canada." Source
Fintech services appear to have figured out they must base their business...
Newly launched marketplace lender Float is using alternative credit scoring to reach a target market of credit averse borrowers; the firm is seeking to provide credit to millennial borrowers with limited credit history; offering a digital lending solution for balancing customers' finances; the firm offers credit lines ranging from $50 to $1,000 and instead of pulling traditional credit reports for credit underwriting, the firm bases its approval decision from access to a customer's bank account transactions. Source
Florida based Axiom Bank launched a new all digital account targeted at the unbanked; Axiom partnered with fintech company Malauzai to help design and launch their mobile app; "For many in our community, AxiomGo provides the first tangible banking experience that not only eliminates expensive fees, but also enables them to perform any banking transaction needed at any time of day,” says Ron Strand-Sorrell, the bank's chief operating officer, in a release reported by American Banker. Source.
The new venture firm, Flourish, from The Omidyar Network is launching to...
Fluid received the LangDi PitchIt Fintech Choice Award; competing as one of eight finalists in the LangDi PitchIt competition, the company was recognized for its development of an innovative credit product for college students; Fluid provides college students with interest free loans of up to $500 and is supported by adtech revenue. Source
Fintech and adtech startup Fluid announced a strategic partnership with Nomad Credit, a financial marketplace for international students in the US; the partnership looks to offer better credit options to this underserved market; together the companies will deliver better financial literacy, credit building tools and more cost effective financial products; Timothy Li, CEO of Fluid, said, "I am very pleased to work with the leadership at Nomad Credit to deliver financial products and credit education to over 1,000,000 international students studying here in America." Source