Since launching in 2013 Funding Circle USA has now reached $2 billion...
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.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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Today, Funding Circle gave its first quarter trading update in the U.K....
According to The Times, sources say Funding Circle is in no hurry to do an IPO, but if the markets continue to be favorable they may go public in the second half of the year; article also shares the potential in their US business where they have much less brand awareness compared to the UK; there are some concerns from clients and investors that the company has not yet been through a recession as they look at an IPO; Funding Circle currently has 850 employees and last raised £82 million at a £990 million valuation. Source
Deutsche Bank has shared details of Funding Circle’s fourth securitization which will...
Funding Circle’s SME Income Fund has closed a funding deal with Citibank; according to the AltFi, “Under the terms of the agreement Citibank London will provide £50m of funding into the transaction, by entering into a senior, floating rate loan. The fund will contribute a portfolio of existing UK small business loans at par, and in return shall receive ?the approximately £50m of cash to be deployed in accordance with its investment policy, and junior notes.” Source
It has been a long time since OnDeck and LendingClub went public in the US; the shares of both companies are down significantly since that time; now Funding Circle is planning to go public as late autumn, but what is the right valuation for the company? Financial Times reviews Funding Circle’s business and the importance of whether investors value it as a finance or software business. Source
Funding U launched in 2016 to help students fund their education by...
FundingSecure has received its HMRC approval and launched its IFISA; FundingSecure offers secured loans and markets annual returns of 12% to 16%; investors can invest up to GBP20,000 ($25,569) in the IFISA in 2017 according to UK regulations. Source
UK peer-to-peer lender FundingSecure is a pawn broker providing loans against secured assets including jewelry, property, classic cars and fine art; its representative APR for borrowers is 35.4% and it markets interest of 16% annually for investors with a minimum investment of 25 British pounds; with the FCA approval it plans to offer IFISAs in the next two months. Source
Fundrise plans to offer a new fund that invests in the development of homes for sale in Los Angeles, California; investors in the fund will be investing in a diversified portfolio of real estate properties in development and for sale with the option to buy homes in the portfolio; investors will receive distributions from the fund's operating cash flow which will primarily be generated from the sale of homes in the fund; distributions may also be made from other sources of cash flow including structured equity or debt. Source