News Briefing - Crowdfunding, SME And Alternative Finance

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1.UK – P2P


P2P Finance News reports:

“PROPERTY investment network Sourced has entered the peer-to-peer lending sector and plans to launch an Innovative Finance ISA (IFISA) by the start of 2019.

The Cheshire-based firm connects individuals with property investment opportunities and also operates a franchise model, for people who want to set up their own property investment business.

It started working with P2P lenders such as Lendy and The House Crowd towards the end of 2017 before officially launching its own P2P business in July 2018.

“It’s been going really well so far,” said Stephen Moss, managing director of Sourced. “We’ve been registering more than 30 investors a day who are looking for P2P investments. And we have a very healthy pipeline of property investments. It’s hit the ground running.”

Sourced focuses on loans backed by UK properties with a maximum of 70 per cent loan-to-value. Expected returns are estimated at between eight and 12 per cent, depending on the property. An IFISA launch has been mooted for early 2019.”

2. US – Equity


Recently, a group of prominent small business advocates and crowdfunding industry insiders sent a letter to Securities and Exchange Commission (SEC) Chairman Jay Clayton, according to Crowdfundinisder.

“The group, which included representatives of several prominent crowdfunding platforms, asked Chair Clayton to act immediately and increase the current cap of Regulation Crowdfunding (or Reg CF) to $20 million.”

3. International – SMEs

Yahoo runs a PR blurb for Tinkoff Bank, which is starting loans for SMEs.


4. International – P2P

The Times reports:

“The Chinese authorities moved to block mass protests in Beijing by small investors who lost their savings during a crackdown on unregulated peer-to-peer lending platforms.

Checkpoints were set up outside the capital and protesters who made it to the financial district were loaded on to buses and removed. They had intended to stage a demonstration outside the banking regulator’s offices to demand an investigation.

The protests came after hundreds of peer-to-peer lending platforms stopped making payments, ceased operations or simply vanished last month.” 

5. International – FinTech


Investors alleging that Sky Mining CEO, Le Minh Tam, defrauded them of $36 million dollars are continuing their fight for restitution, this time in the form of a petition at, according to Crowdfundinsider.

“The petition lists Tam’s passport number and claims he solicited investors from Vietnam, Japan and Africa, to contribute between $500 and $5000 to buy shares in his cryptocurrency cloud-mining operation.

The victims claim that many have lost their life savings and that one investor has committed suicide.

Vietnamese publication VN Express first reported on the alleged fraud in late July of this year when investors claimed they’d been unable to reach Tam for over a week.

After Tam’s disappearance, an investigation of one of the company’s purported 26 crypto mining facilities allegedly found the warehouse abandoned and all equipment removed.

Tam reportedly used investor money to buy over 7000 crypto mining machines.

In the wake of his disappearance, Tam claimed in a single Facebook message that market downturns and poor returns had forced him into hiding.

Complainants allege in the petition that, since his departure, Tam has bought a house San Jose, California, and may now be somewhere in Atlanta, Georgia, or Germany.

According to a recent article at VN Express, the Vietnamese HCMC Police Department say Tam flew to Doha, Qatar on July 22.

The United States has no extradition treaty with Vietnam.”