1. UK – P2P
Peer2Peer Finance News on problems at Lendy.
“LENDY has suspended investment into nine loans from a single borrower on its peer-to-peer property lending platform as it claims to be making progress in getting lenders repaid.
The borrower, whose portfolio includes a site in Bradford, has committed to help ensure investors get “the best recovery,” Lendy said.
He has been in talks with the platform since at least December regarding refinancing or selling his property assets so the loans can be repaid.
“We have had an important meeting with the borrower to discuss the next steps and he has shown his commitment to work with Lendy to ensure that the best recovery is made for all investors across all the loans involved,” Lendy said in an email to investors.
“We expect to be able to give you further detail on these loans before the end of the week.”
2. UK – SMEs/AltFi
Business Leader reports:
3. UK – SMEs/AltFi
More than half of entrepreneurs in the UK are struggling to fund the growth of their business, new data reported by Business Daily suggests.
“According to the latest Fast Growth Tracker report, published today (December 18) by professional services giant EY, 51% of entrepreneurs say their biggest blocker to expansion is funding.
The Tracker, which interviewed 380 founders and executives around the country, also found that 66% are still hungry for capital. But that number has fallen since last year, when 77% were looking for funding.
Of those who wanted to raise funds, 81% were seeking a minimum investment of £5m and 19% up to £10m.”
4. International – FinTech
“If you're impressed by Masayoshi Son's $US100 billion ($139 billion) Vision Fund, China's $US856 billion in "guidance funds" will blow your mind.”
5. International – SMEs
Famous failures can provide instructive lessons for start-ups, says e27.co.
“Sometimes all you need to become a success is to fail first. There are numerous examples around us. LinkedIn co-founder Reid Hoffman first started a social networking platform called SocialNet that failed. However, he attributes the success of LinkedIn, which raked in $1 billion in revenue in 2017, to his failure with his earlier startup.
If you are thinking about creating your own startup, you first need to look around. The failure rate for startups is too high. That should not discourage you but give you more opportunities to learn before stepping on the ground. You will probably still make mistakes but studying other people’s experiences will save you from repeating their mistakes.”