News Briefing - Crowdfunding, SME And Alternative Finance

the community raises its hands

1.UK – P2P

Marketplace lending hit a record £6.1bn in 2018 according to the Link Asset Services inaugural Marketplace Lending Index, a growth rate of nearly 20 per cent compared to the previous year, reports AltFi.

“The index, which launched this week and is powered by Brismo (formerly AltFi Data), shows the value of gross lending conducted by peer-to-peer and marketplace lending platforms.

Total gross lending climbed by £1bn to hit £6.1bn in 2018, the highest figure on record. Growth slowed following several rapid years of rising volumes from 39 per cent in 2017 demonstrating a healthy but maturation of the direction of the market.

The latest numbers also show a quarterly record of £1.6bn in Q4 of 2018, up 13.9 per cent year on year.

In contrast to 2011, when new gross lending amounted to just £92m, marketplace platforms are now orginating this amount in just six days.

Rising invoice finance demand and business lending were key drivers of growth in 2018. The former leaping 104.8 per cent compared to 2017, reaching £1.1bn in 2018 while the latter which includes companies borrowing to invest, buy new premises, make acquisitions or refinance, broke the £2bn lending barrier for the first time, with gross lending climbing by 20.9 per cent. Consumer lending meanwhile saw slower growth of 4 per while property lending grew by just 2.1 per cent.”  


2. UK – P2P

 

Peer2Peer Finance News reports:

 

“THE NUMBER of ISAs on the savings market has topped the levels seen during the peak of last year’s ISA season, research from Moneyfacts has found.

The Moneyfacts UK Savings Trends Treasury Report revealed that there were 399 ISAs on the market at the ISA season peak in 201, but now there are 415 deals available, with still almost a month to go until the end of the tax year.

Despite this, there is still “room for improvement with ISA rates”, says Moneyfacts, particularly on fixed deals. The average one-year fixed ISA stands at 1.37 per cent, 0.1 per cent less than the average one-year fixed bond at 1.47 per cent.

Moneyfacts noted that the disparity between the fixed returns available from ISAs and bonds is primarily due to competition among the challenger banks who may not offer an ISA.

Activity is rising among longer-term fixed ISAs, with the average rate climbing to 1.62 per cent, but failing to beat the return of 1.89 per cent available outside an ISA wrapper.

Recent research from Hargreaves Lansdown showed UK savers have missed out on at least £188bn in lost interest from low-yielding savings accounts over the past 10 years – the equivalent of £7,101 per household.”

3. UK – FinTech

 

AltFi News reports:

 

“Asset management giant Invesco has launched a blockchain exchange-traded fund (ETF), highlighting growing investor interest in the technology behind cryptocurrencies.

The London-listed fund, picked in conjunction with London-based technology investment house Elwood Asset Management, is called the Invesco Elwood Global Blockchain ETF.

It is initially expected to hold around 50 firms linked to blockchain technology, which is little over a decade old.

Chip manufacturer Intel, semiconductor producer Advanced Micro Devices and an exchange supporting Bitcoin futures, CME Group, are US firms in the ETF, as is Asian manufacturer Taiwan Semiconductor.”


4. US – FinTech

 

Crowdfund Insider reports:

 

Progressa, a Vancouver-based fintech company that is focused on helping sub-prime and near-prime Canadians seeking to improve their financial health, announced on Tuesday it has surpassed the $100 million milestone in funded loans for underserved Canadian consumers.

5. International  – FinTech

Crowdfund Insider reports:

“Blockchain software firm BitGo announced on Tuesday it is now supporting the BCAP ERC-20 token from Blockchain Capital. BitGo reported that in addition to multi-signature wallet security, its clients may custody their BCAP assets with BitGo Trust Company, which is a qualified custodian that provides compliant custody for security tokens.

According to BitGo, Blockchain Capital pioneered the BCAP in April of 2017 when they launched the world’s first ever tokenized investment fund and by extension the blockchain industry’s very first security token. The BCAP represents an indirect economic interest in the limited partnership interest in the tokenized investment fund.”

BitGo Announces Support For BCAP ERC-20 Token From Blockchain Capital | Crowdfund Insider