Fundbox announced today a fresh $20 million in equity funding from MUFG...
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
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Small business lender Fundbox believes their new credit and payment product will help to solve the cash flow issue at small businesses; “We want to do for [small-business] B-to-B commerce what the entire credit card infrastructure has done for B-to-C commerce,” said Prashant Fuloria, chief operating officer of Fundbox, to American Banker; one of the biggest reasons for some of these issues is there is no credit scoring equivalent for small businesses; Fundbox Pay allows businesses to get paid immediately and gives those invoiced 60 days to pay at no charge, allowing businesses to handle the seasonal cash flow issues without too much pain. Source.
Funding Circle has struggled in the public markets since their IPO in...
Funding Circle has announced a new $100 million multi-year investment agreement with Community Investment Management including provisions for additional investment; the $100 million investment will focus on small businesses in the US; the investment supports continued growth for Funding Circle which has reported monthly lending of over 100 million British pounds ($122.92 million) since November. Source
UK online lender Funding Circle has announced it will be slowing its property lending with plans to fully end the product by mid 2018; the firm is primarily focused on SME lending and says the refocused strategy will help it to increase SME lending and shift its resources for international expansion; property loans have previously only been available to UK borrowers and the product has accounted for approximately 5% of the company's revenue. Source
Funding Circle has announced changes to its borrowing rates for small business loans as of November 7; rates will be lower for higher credit quality borrowers and higher for the lower credit quality loans; says with the new rates, investors can expect an average annual return of 7%. Source
This marks Funding Circle’s third deal in the securitization market; it includes...
Yesterday, Funding Circle announced that they have been approved to provide Paycheck...
Funding Circle is recommending shareholders to approve the wind-down of the Funding...
The company beat on revenue growth and loans under management in Q4...