2019 was another great year for the fintech market overalls but not all companies saw success in 2019; AltFi takes...
Qwil’s Johnny Reinsch: ‘Our mission is to provide liquidity to SMBs and freelancers around the world’ Nationwide Announces New Partnership...
UK based Arrowgrass will offer investors fintech exposure through a new vehicle listed on the AIM Market; the $97mn IPO named TruFin, is the first time investors will have access to one of the country’s p2p platforms in Zopa; “Listing on AIM will allow us to provide further capital to our subsidiaries and scale faster, and take advantage of any developments in the current financial services market,” said Henry Kenner, chief executive officer of TruFin plc, to AltFi. Source.
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[Editor’s note: This is a guest post from Jaidev Janardana, CEO of Zopa. Zopa is a silver sponsor at LendIt Europe...
Worsening conditions for the public's financial health have caused the FCA to launch a consultation. The fintech sector is already way ahead.
P2P lending fund cites legacy Zopa portfolio for lower returns Digitizing construction finance with Rabbet’s Will Mitchell AI Is Coming...
Bitcoin Exchanges Try to Lure High-Speed Traders like Virtu and Citadel Zopa to boost regulatory clout ahead of Brexit PBoC...
Augmentum Capital, venture group backed by Lord Rothschild, is looking to raise more than $175mn for a closed end fund to invest in fintech startups; the company plans to take positions in p2p lending platform Zopa and crowdfunding platform Seedrs, both of whom are in the UK; “There are very few places you can go to right now to invest in fintech at the moment on the public markets,” said George O’Connor, analyst at Stifel, to the FT. “So [this] taps into the zeitgeist.” Source.
The article discusses recent news of decreasing valuations of GLI Finance backed companies, potentially higher losses on Zopa's platform and troubles at Wellesley & Co. Source
UK based Zopa has warned investors that defaults on high risk loans are rising; Zopa increased originations to high risk borrowers in 2016 and introduced their Zopa Core and Zopa Plus Products; the company originally expected default rates for 2016 at 4.14 percent but have revised that number to 4.93 percent; they also raised their estimates for 2017 loans to these borrowers to be 4.86 percent from 4.52 percent. Source.