News Briefing - Crowdfunding, SME And Alternative Finance

three women and a man discuss reports

1.UK – P2P

AltFi News reports a Goldman Sachs move for a UK lending platform.


Lendable has secured a £200m funding line from Goldman Sachs Private Capital as the consumer lender continues to attract institutional finance.

The London-based consumer lending platform landed the forward flow funding transaction from the New York investment bank, to continue to fund online loans to consumers in minutes using machine learning technology.

Lendable chief capital officer Rory McHugh said: "We believe Goldman Sachs and the Luxembourg fund we are launching later in the summer will perfectly complement our existing funding partners as we continue to see significant opportunities for growth."

 

P2P Finance News has more on the state of failed platform Lendy’s loan book.


3. UK – AltFi

 

The FCA comes under fire for another “high income” scandal.

 

4. UK – FinTech

 

The Fintech Times says the FCA is increasing its surveillance of unregulated investments.


 

5. International – FinTech

 

Stockwatch reports a jump in a Chinese FinTech company’s stock, listed on NASDAQ.

China Lending Corp. (Nasdaq: CLDC) saw an 11-percent jump in its stock price Monday, to $1.03 per American depositary share, after it announced a partnership with Rui Xin Insurance Technology (Ningbo) Co. Ltd.

China Lending, a Beijing-based company that focuses on micro-, small- and medium-sized enterprises in China, said in a statement today that it has scored a five-year deal that would help it expand its business and customer base.

With its new partner, insurance provider Rui Xin, the company plans to set up its own consumer finance platform, according to the report. China Lending also said it hopes to improve its asset quality and risk management through this deal, as well as delve into the insurance market.