1.UK – AltFi
Peer2Peer Finance News reports:
“ASSET-BACKED lending to small businesses has hit a three-year low, research suggests.
Analysis of UK Finance data by business software provider Equiniti found total advances to businesses with a turnover of less than £1m a year reached £1.1bn at the end of the third quarter of 2018 – down nine per cent on the same period three years ago, which was just ahead of the EU referendum.
Aaron Hughes, managing director at Equiniti Riskfactor, said the “Brexit-bite” has been particularly strong for these smaller businesses in 2018 with advances of asset-based lending and invoice finance declining significantly in two consecutive quarters.
As of September, borrowing had declined by £97m compared to the end of the second quarter of 2018 and by £221m compared with the end of the first quarter.
In contrast, larger businesses turning over more than £50m borrowed £10.4bn in the third quarter of 2018, up from £8.1bn in the same period of 2015.”
2. UK – FinTech
Business Leader reports a symposium where one conclusion was the fast-moving convergence of technology and real estate.
3. International – AltFi
A ‘seven-figure’ funding round for an Indonesian language site.
“Indonesia-based online language learning platform Squline announced that it has raised Series A round of funding from Investidea Ventures with participation from several undisclosed investors.
In its official statement, Squline shared that the funds will be directed towards supporting technology development, acquiring new talents, and product expansion in 2019.”
4. International – FinTech
Crowdfund Insider reports that Australian platform Xinja has obtained a banking licence.
“In January of 2018, Xinja became the first retail equity crowdfunding offer in Australia following an update to rules. Xinja, a digital challenger bank, went on to raise $2.4 million in a solid “proof of concept” offering that was part of larger $10 million series B funding round.
Digital banks and crowdfunding have been an enormous hit in the most vibrant crowdfunding market in the world – Great Britain. Several successfully crowdfunded digital banks have gone on to become fabled Fintech unicorns such as the globally ambitious Revolut.”
5. International – FinTech
Crowdfund Insider reports:
“CoinNess, an Asian cryptocurrency and blockchain information provider, announced on Thursday it is launching a new global growth partner program, called the CNNS Partner Program. The company also reported it will invest $5 million in order to build an international crypto investors’ community, with all the funds going towards rewarding CNNS partners, community members, and early app users.”