Fintech services appear to have figured out they must base their business models on float control if they are to...
The company may go public as soon as late autumn; sources state that the company will exceed a £1 billion valuation; investment banks are expected to be in place by spring; Funding Circle would be the first p2p lender in the UK to go public. Source
Sources have reported to Crowdfund Insider that the platform has shut down; the online lender was providing lines of credit for up to $1,000; it last raised $3 million in February 2017. Source
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
Float will offer credit lines for US consumers in California and Utah; based in Los Angeles the company also announced a $3 million funding round from finance and tech industry angel investors; the company plans to expand to all 50 states over the next six to 12 months. Source