Random

UK

·Dec. 9, 2016

UK Financial Wellness Startup, Abaka, Raises Seed Funding

Fintech startup, Abaka, raised 520,000 British pounds in seed funding from Anthemis Exponential Ventures and MMI Holdings' Exponential Ventures; the company intends to use the capital to hire new people and launch in the UK; the company uses artificial intelligence to help employees improve financial wellness through a savings platform so they can manage their pension plans on their phones. Source

Read Full Story

Europe News Roundup Online Lending

·Aug. 22, 2017

P2P-Banking Talks with Terry Fisher of Huddle Capital

Huddle Capital provides P2P loans for businesses; Terry Fisher talks about the platform's differentiators and advantages; also discusses its ownership by Access Commercial Finance, its relationship with Rebuildingsociety, its technology and what investors can expect. Source

Read Full Story

Europe Fintech News Roundup

·Feb. 21, 2017

Monzo Nearing Completion of New Funding

UK digital bank Monzo is nearing completion of a new funding round that will add 20 to 30 million British pounds in capital for the firm; the investment round is being led by Thrive Capital; sources also report that the firm is planning an equity crowdfunding campaign later in the year; Monzo is led by CEO Tom Blomfield and the firm was granted a UK banking license in August 2016; it currently has 100,000 users with activity driven by pre-paid Mastercards and mobile applications; the firm recently declined an acquisition offer from an incumbent bank and says it still has a lot it plans to accomplish. Source

Read Full Story

Europe News Roundup Online Lending

·Apr. 25, 2017

Growth Street Reports 600 New Investors in Five Months

Growth Street has originated over $67.44 million since its launch in November 2016 with a new CEO and two new executive hires; the firm has now reported 600 new investors on the platform in the five months since its launch; Growth Street provides financing for UK SMEs; the short term financing options appear to be a factor attracting investors; the platform matches borrowers and lenders for 30 days and also allows investors to withdraw funds with notice of 30 days. Source

Read Full Story

Europe News Roundup Online Lending

·Apr. 24, 2017

Assetz Capital Reports Four Year Anniversary and 240mn British Pounds in Originations

Assetz Capital has now been in business for four years with 240 million British pounds ($307.61 million) in loan issuance; the platform focuses on lending for SMEs and says it plans to double its current originations in the next twelve months; the firm offers secured loans that generate annual returns of 3.75% to 18%. Source

Read Full Story

Europe News Roundup Online Lending

·Aug. 23, 2017

Zopa Reports a 60% Increase in Revenue

The company's revenue increased from GBP20.6 million ($26.38 million) in 2015 to GBP33.2 million ($42.52 million) in 2016; its earnings also improved with a GBP -5.8 million (-$7.43 million) loss versus GBP -8.8 million (-$11.27 million) in 2015 and the company reported a fourth quarter operating profit; the 2016 results also showed loan originations increasing by 30% to GBP689 million ($882.4 million) in 2016. Source

Read Full Story

Europe Fintech News Roundup

·Jan. 27, 2017

AI Firm Cleo Raises 550,000 British Pounds

Artificial intelligence firm Cleo has raised 550,000 British pounds ($626,300) from angel investors; investors included Niklas Zennström, Jason Goodman, Alex Chesterman, Siraj Khaliq, Errol Damelin, Simon Franks, Wendy White and Joe White; Cleo is an AI-powered service working in connection with AI robots like Amazon Alexa to offer consumers personal finance advice; firm plans to use the new capital to further develop its technology and increase its user base of clients which are primarily in the UK. Source

Read Full Story

Europe News Roundup Online Lending Real Estate

·Jan. 16, 2017

UK Investment Firm P2PGI Changing Investment Focus to Secured Loans

P2PGI will be increasing its allocation to asset-backed loans in its investment trust; the firm will primarily focus on secured real estate loans however it will also be increasing its allocation to invoice credit lending and other secured lending investments; the increased focus on secured loans follows a previous announcement on targeting UK originated loans. Source

Read Full Story

Europe Fintech News Roundup

·Feb. 4, 2019

Bud Raises Round from HSBC and Goldman Sachs

The $20 million round was co-led by HSBC and Goldman Sachs; Bud is a financial network, capitalizing on open banking...

Read Full Story

Europe News Roundup Online Lending Regulation

·Dec. 9, 2016

FCA Issues Update on Crowdfunding Rules

The Financial Conduct Authority has issued an update on its rules for the crowdfunding market; the update is based on feedback received since July and its authorization process; seems there will be a number of modifications; some of the key areas for new regulation in P2P lending include disclosure, wind-down plans, mortgage lending standards, cross-platform investment, investment limits, operational risk complexity, marketing promotions, provision funds, money handling standards, regulatory arbitrage, maturity mismatching, investment for institutional investors and liquidity risk for IFISA investors. Source

Read Full Story