By Debbie Dragon A loan can come from all sorts of places:...
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.
To join our newsletter community please subscribe here.
The UK’s Financial Conduct Authority and Cyprus’s CySEC have issued warnings to retail traders on contracts for difference based on cryptocurrencies; CFD trading based on the digital currencies has started to become popular with the volatility in bitcoin; regulators are worried that retail investors will suffer significant losses and are looking to limit leverage as a result; this continues a worldwide trend by regulators as they get a handle on the growing crypto asset class. Source.
Point of sale business credit provider Behalf has partnered with community bank FinWise Bank; FinWise Bank will support expanded credit financing and product offerings for Behalf; according to Behalf CEO and Co-Founder Benjy Feinberg, "Partnering with FinWise allows us to expand our product offering and serve more customers with financial tools that help them grow." Source
Creditas is a Brazilian fintech startup that is now valued at $700...
During the week I share the latest marketplace lending news on Twitter...
Recently Morgan Stanley published research sharing that digital payments penetration in India could increase from 5% today to 20% in 2027; the e-commerce market could reach $200 billion with 475 million shoppers by this time; the author delves deep into the Chinese and Indian payments markets, sharing why America could miss out on India’s fintech revolution. Source
UK crowdfunding platform Crowd2Fund has reported year-over-year transaction growth of 4,700%; in Q1 2017 it provided funding to a range of industries with the number of businesses receiving funding increasing by 3,900% in comparison to Q1 2016; growth rates are increasing by 50% per month and the firm expects to transact over GBP10 million ($12.82 million) per month; the firm's IFISA offering has been a factor supporting the firm's growth with 95% of the platform's investments made through IFISAs; the firm offers a variety of capital funding sources for businesses including loans as well as structured equity and debt based financing. Source
Jetty is an insurtech startup that focuses on insuring belongings in customers' apartments; the company also announced a $4 million seed round from investors that include Ribbit Capital, Box Group, Social Capital, SV Angel, Red Swan, MetaProp NYC and Solon Mack Capital; the company is initially offering property coverage, liability coverage, loss of use coverage and medical payments coverage; consumers have the ability to upgrade if they have high priced items in need of insurance; Jetty was founded in 2016. Source
Atom Bank has raised $102 million in new capital from Spanish bank BBVA who also led a previous funding round in 2015; the company plans to use the funding for business and product development including lending services; the digital bank's current products include: Fixed Saver accounts, mortgages, and secured loans for small and medium-sized businesses; the company is also reportedly working on another funding round and is currently valued at approximately $320 million. Source
A new report by Oxford Economics and fintech startup Juvo says mobile...