News Briefing - Crowdfunding, SME And Alternative Finance

crowd at an airport

1.UK – AltFi

Money International carries an SEIS guide.

 

2. UK – AltFi

 

Crowdfund Insider on an app’s latest equity raise.

 

“Less than two years after securing more than £1.3 million through its previous Crowdcube roundMoney Dashboard was returned to the equity crowdfunding platform and has surpassed more than £2.1 million in funding. The funding round was launched, originally seeking £1.5 million, and has so far attracted more than 1500 investors. The campaign actually surpassed its funding target within 45 minutes of launching on Crowdcube.

 

As previously reported, Money Dashboard’s app notably empowers more than 100,000 users to make better financial decisions and achieve their financial goals. It was revealed that 32 million adults in the UK regularly bank online, but very few feel in control of their financials. The firm seeks to fill that gap by pulling in bank statement data from any account in the UK and automatically organize the spending data.”

3. UK – AltFi

 

IW Capital has raised £10m from its first secured debt fund, which will be used to support UK small- and medium-sized enterprises (SME), according to P2P Finance News.

 “The investment firm has closed the fund after raising £2m from a final funding round from new high-net-worth investors and its existing client base.

The fund will operate for three years, with a target minimum return of seven per cent per annum.

Investors’ funds are allocated across a diverse portfolio of SME loans. All loans are secured by a mortgage debenture over the borrower’s assets and include financial covenants and quarterly reporting obligations on the part of the borrower.”

 

4. UK – FinTech

 

The Daily Mail reports:

“Finance app Loot, which offered 'digital current accounts' and won £5million in backing from RBS, has gone into administration 

Customers who loaded money on to Loot cards have been reassured that their cash is safe, after administrators were appointed to the money management service that been heavily promoting itself with London Underground adverts.

Loot, which claimed to have 212,000 customers, was trying to raise money through a crowdfunding campaign to expand its offering. 

The app, which Royal Bank of Scotland had a 25 per cent stake in, encouraged customers to load money onto a prepaid card and then use its service to manage their spending and finances.”

5. International – FinTech

 

The Block Crypto reports on a rapidly expanding exchange.

 

“Coinbase Commerce, the exchange’s online retail service, announced today it has facilitated $50 million in transactions since launching last year. With 10,000 monthly users, the platform is on a growth trajectory, homing in on early adopters with plans to innovate, according to Justin O’Brien, the product lead for the platform.”