1.UK – FinTech
An unorthodox use of gold as collateral, reported in Crowdfund Insider
Glint, a UK-based fintech that enables physical gold to make instant payments using a debit Mastercard, announce on Thursday it completes £5 million private placement. The private placement comes nearly one year after Glint raised more than £2.1 million through its Crowdcube funding round.
2. UK – FinTech
AUGMENTUM Fintech has made £8.5m of further investments across three technology companies in its portfolio, according to P2P Finance News.
“The investment trust, which includes Zopa as its largest holding, has put more money into challenger bank Tide, mobile-only current account provider Monese and information platform Duedil.
Augmentum has invested £5m in Tide, building on the £3m backing it gave in August 2018.
It has put a further £2.5m into Monese, adding to a £5.3m investment in September 2018 and an extra £1m into Duedil, taking the total backing of the company to £3m. “We are pleased to announce these follow-on investments in three of our existing portfolio companies,” Tim Levene, portfolio manager at Augmenturm, said.
“Since our initial investments last year, we have been working closely with the management teams in each of these companies and have been impressed with the progress that they have made against their respective business plans.
“All of these innovative businesses are continuing to effect change and much needed disruption in their target markets.”
3. UK – P2P
Peer2Peer Finance News reports:
“Kuflink has reached the £50m lending milestone.
The peer-to-peer bridging and development finance lender, which launched in 2016, said it has already returned £23m of capital to investors and a further £1.3m in interest.
“It took us over a year to fund our first £10m, and we’ve been on an upward trajectory ever since – we’re reaching each milestone faster than the last”, Narinder Khattoare (pictured), chief executive of Kuflink, said.”
4. US – FinTech
The state of Delaware is burnishing its Fintech credibility with a new report, according to Crowdfund Insider.
“Produced by the Delaware Prosperity Partnership, the First State Fintech Lab, and the University of Delaware’s Institute for Public Administration, the document tells you why Delaware is the place to be when you set up your innovative Fintech firm.
Delaware has always been home to many financial services firms. Its corporation friendly legal structure makes it a state of choice when setting up a business. The report notes that currently, Delaware is home to nearly 48,000 jobs in the financial services sector, with about 37,000 jobs in core financial services industries.”
5. International – FinTech
AdWeek reports Facebook’s first equity investment in India.