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News Briefing - Crowdfunding, SME And Alternative Finance

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1.UK – P2P

 

P2P Finance News reports:

 

“ABUNDANCE investors have been left in limbo after Ofgem rejected an application for subsidies on a Monnow Valley CHP (MVCHP) debenture.

Earlier this year, the energy regulator blocked the Monnow Valley biomass facility from benefitting from the Renewable Heat Incentive (RHI), meaning that MVCHP would be unable to make an income from the heat generator. As a result, investors’ capital is now at risk.

Bruce Davis, joint managing director of Abundance, told Peer2Peer Finance News that the peer-to-peer lender is working with investors and MVCHP to appeal the Ofgem decision via a statutory review. He added that the company is prepared to take the case to a judicial review, if necessary.”

 

 

2. UK – P2P/Real Estate

 

CROWDPROPERTY has promised a pipeline of new loans to fund for the rest of the year as it approaches its fourth anniversary, according to P2P Finance News.

“The peer-to-peer property platform said its loanbook is approaching £20m, encompassing 44 projects with 284 units.

Of these, 21 projects have paid back £8.2m, including £776,000 of interest.

The platform said in a summer update that it had a “very strong pipeline” of projects for the rest of the year, recognising that opportunities were being funded quickly.

CrowdProperty said its previous four projects, which were listed over a period of 10 days, funded £2.2m in just 48 minutes on the platform.”

 

 

3. UK – Equity

 

 

AltFi report:

 

“Equity crowdfunding platform Seedrs is following in the footsteps of one of its former fundraisers, robo-advisor Wealthify, with the launch of a new auto-investment tool.

When the company raised £10m last October – in a round led by fund manager Neil Woodford and topped up by a crowdfunding campaign on its own platform – it promised to use the money to drive greater automation and the use of Artificial Intelligence (AI).

Seedrs now claims its new AutoInvest tool is a first within the UK equity crowdfunding sector. It will allow investors to automatically invest in companies through the platform, according to pre-defined criteria.”


The equity crowdfunder is claiming a sector-first with the launch of its new tool. Equity crowdfunding platform Seedrs is following in the footsteps of one of its former fundraisers, robo-advisor Wealthify, with the launch of a new auto-investment tool. When the company raised £10m last October ...


4. UK – AltFi/SMEs

 

BNP Paribas Asset Management, which has €569bn of assets under management, will launch a specialist UK SME direct lending fund as the firm continues to rapidly develop its private debt and real assets business, the firm has said in a statement reported by AltFi.

“The BNP Paribas UK SME Debt Fund 1 will look to offer institutional investors exposure to loans originated to small and medium sized UK firms, an area of the market many now see as underserved by traditional financial channels such as banks.

It will invest in senior loans to SMEs with an annual turnover of less than £50m, originated via BNPP AM’s SME Alternative Financing platform.”


The firm has recently made a number of moves into alternative finance and fintech as it looks to become a significant player in the non-bank lending market. Image source: https://goo.gl/2XveEe BNP Paribas Asset Management, which has €569bn of assets under management, will launch a specialist UK ...

 

 

5. International – FinTech

 

Crowdfundinsider reports a jump in crypto-crime.

“In July CipherTrace published a report on crypto theft and money laundering during Q2 2018 detailing a spike in crypto crime as thefts of digital assets via wallets and exchanges jump in value; as one may expect, money laundering is also a growing problem.  The CipherTrace 2018 Q2 Cryptocurrency Anti-Money Laundering Report says that 3X more cryptocurrency was stolen from exchanges in the first half of 2018 than in all of 2017. The report also says Cyber extortionists, the dark web and ransomware crooks prefer Bitcoin for their cryptocurrency payments. The crypto sector is seeking how to address this multi billion dollar problem.

According to Altcoin.io, hackers have stolen almost $10 billion in Bitcoin in the last few years, and centralized exchanges are to blame.

“By holding your tokens in a single vault during each transaction, they create a single point of failure, a weakness hackers can easily exploit. The market wants a secure way to trade,” indicated on its Wefunder campaign. “At Altcoin.io, we’re building a decentralized exchange that puts safety first: you stay in control of your coins the entire time. Already, 110,000+ traders have pre-registered since September 2017.”

Valued at $7M, Altcoin.io is seeking to raise a maximum target goal of $1,070,000 on Wefunder.  At this writing, over $643,960 for Future Equity has been raised by more than 750 investors.

“We believe decentralized exchanges are the future of cryptocurrency and centralized exchanges will soon become obsolete. Our mission is to build an exchange that supports instant, low-fee trades of virtually any token, all secured by the blockchain, that is easy to use for novice and experienced traders alike,” indicated Altcoin.io. “With thousands of different altcoins on our network, high liquidity, and an excellent user experience, we hope to become the preferred platform for all traders concerned with security.”

 

Founded by Andrew Gazdecki,  the crypto trading platform released the next version of its testnet PlasmaDEX yesterday.  Plasma is a design philosophy for off-chain applications originally introduced by Vitalik Buterin and Joseph Poon in their white paper, “Plasma: Scalable Autonomous Smart Contracts.” The design was utilized by Altcoin.io for its speed, security and scalability and for the ability to build a unique sidechain.


In July CipherTrace published a report on crypto theft and money laundering during Q2 2018 detailing a spike in crypto crime as thefts of digital assets