News Briefing - Crowdfunding, SME And Alternative Finance

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1.UK – FinTech

Financial Headlines highlights a rally in GLI Finance’s share price.

“Shares of GLI Finance Limited (LON:GLIF) last traded at 7.88, representing a move of 1.61%, or 0.12 per share, on volume of 113,652 shares. After opening the trading day at 7.84, shares of GLI Finance Limited traded in a close range. GLI Finance Limited currently has a total float of 3.06 million shares and on average sees 62,507 shares exchange hands each day. The stock now has a 52-week low of 7.5 and high of 11.99.”

 

2. UK – AltFi

 

The Irish Times on a UK funder’s incursion into property lending.

“A new alternative finance provider is targeting small to mid-tier property developers across the country, aiming to lend €50 million in its first year of business.

Sancus, a UK financing company owned by Aim-listed GLI Finance, is ramping up its Irish operation, and is looking to lend on commercial and residential developments across the Republic and Northern Ireland.

Michael Mooney is managing director of the Irish operation, joining the company from Barclays Ireland, where he was director in the corporate real estate finance department. He said that Sancus saw “a gap in the market” here, and eyed the opportunity to fund property development given a reduction in available bank debt for the sector.

Sancus will typically lend bridging and development loans in the region of €1 million-€10 million at a loan-to-value of about 70 per cent, and at interest rates of about 8 per cent.”


3. UK – P2P

 

P2P Finance News reports:

 

“A food-producer funding platform has expressed interest in partnering with peer-to-peer lending platforms as it looks to scale up the business.

PrimeStox, founded by mining and metals analyst Joseph Cherrez and horticulturist Jenny Louw, lets retail investors support food producers by funding production of their goods and sharing in the profits once they are sold.”


4. US – Equity

 

Digital Journal looks at a a new -eco-friendly raise.


5. International – FinTech

 

A cryptocurrency advocate looks at what’s needed for Bitcoin’s price to rally…

“2018 was by all means a difficult year for cryptocurrencies, but the last two months have been even more challenging for the leading digital currency, Bitcoin. In November, Bitcoin traded at less than $4000, the lowest it has reached since October 2017. This price drop sent waves of panic across the market even as the prices of other cryptocurrencies plunged in a trend that lasted several weeks.

The price of Bitcoin tumbled despite the fact that Bloomberg reported in a research by the Cambridge Center for Alternative Finance that in the initial three quarters of 2018, the number of verified digital currency users almost doubled.

According to the research, the number of cryptocurrency users hit the 35 million mark in 2018, up from 18 million in 2017, and 5 million in 2016. The number of cryptocurrency accounts also increased significantly to reach 139 million in 2018, up from 85 million in 2017.”