During the week I share the latest marketplace lending and fintech news...
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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Naspers is the most valuable listed company in Africa and is now selling $10 billion worth of shares in Tencent to invest in fintech, classified and online food delivery businesses; Naspers stake in Tencent is estimated at $545 billion; this is the first time the company has sold shares in the company after initially investing in 2001. Source
The UK saw 5.5 percent fewer startups begin in the last year; startups have found getting funding to be increasingly hard and only 53 percent survive their first three years; most business owners are starting companies on the side and tend to have a full time job as well; the government has tried to help with programs like Start Up Loans which lends money to emerging companies; startup owners not only find business to be hard but end up debt in many cases as they can never really get sales off the ground. Source.
Lisa Jacobs, the head of Funding Circle’s UK business, sat down with...
There is a brewing war in the p2p payments space with Venmo...
Fintech has helped to open new opportunities all across the financial services...
WeLab is one of eight virtual banks that have received banking licenses...
A new report by ratings agency Fitch says digital banks could be...
The Trump administration is looking to potentially name the chair of the National Credit Union Administration to lead the CFPB; J. Mark McWatters has been seen as being a bigger credit union advocate over banks; bankers are concerned because his public record has indicated he lobbies more for breaks that favor credit unions over banks; while a decision is yet to be made bankers are hopeful that the administration will consider those from the banking community as well. Source.
CommonBond closed their fifth and largest securitization which contained $248 million of refinanced student loans; the senior tranches were rated by Moody’s, S&P and DBRS and received ratings of Aa2, AA and AA (high) respectively; the deal was four times oversubscribed; according to David Klein, CommonBond CEO and co-founder, “Investor demand for CommonBond paper has never been greater. The strong market reception is a reflection of our pristine credit quality, continued ratings progression, and track record of consistent results. As a programmatic issuer, we look forward to continuing to bring consistently high performing bonds to the market, providing investors with world-class capital deployment options.” Source