News Briefing - Crowdfunding, SME And Alternative Finance

crowd concert

1.UK – P2P/Real Estate

Business Cloud reports:

"Property-focussed FinTech firm The House Crowd is to launch a £1m crowdfund on Seedrs to power the launch of its new brand new Money Mog and introduce cutting edge new tech.

The Cheshire-based firm itself offers a peer to peer lending and crowdfunding platform for people to invest in a bridging loan, a form of short-term finance, which powers the refurbishment and selling of properties.

The company said its latest round of funding will allows it create its own personal pension and capture market share in the £600 Billion ISA market.

The funds will also help to launch its new brand, which has been revealed as Money Mog, a brand targeted at millennials.

It also plans to integrate blockchain secondary market and introduce “several other tech advancements” to accelerate company growth, it said on its website.

The company is offering 3.4 per cent of its equity to investors with a valuation of £29m."

2. UK – P2P

Yet more problems at Funding Circle. Secondary market issues…

  • Funding Circle offers a secondary market that allows lenders to sell off loans
  • The amount of time it takes to re-sell loans and loan parts has risen dramatically
  • Loans sold between 21 and 27 August this year took an average 93 days to shift
  • This up from eight days in January 2019 and 66 days in the first week of July 

3. UK – P2P/Real Estate

P2P Finance News reports:

“CAPITALRISE says London’s prime property market is in good shape in spite of challenging macroeconomic conditions.

The peer-to-peer property lender, which specialises in prime property in London and the South East, said it had assessed over £1.88bn of deals over the first six months of 2019.

CapitalRise highlighted improving investor sentiment in the market despite the dual uncertainties of Brexit and the US-China trade war.

The firm said completions on property loans in upmarket Chelsea and Belgravia pointed to ongoing positive interest from multinational investors.”

4. US – FinTech

Beta Kit reports:

“Toronto-based FinTech company PayBright has raised $34 million in growth equity from alternative financing provider goeasy Ltd.

PayBright is lending and payments startup that offers instant point-of-sale financing and installment payment plans for consumers and merchants. Its platform is focused on providing consumers with pay-later solutions at online and brick-and-mortar retailers.”

5. International – FinTech

The IMF chief calls for careful regulation of FinTech and cryptos.

“Outgoing IMF Managing Director Christine Lagarde has called for the careful regulation of cryptocurrencies and the Fintech sector in a campaign speech she made before the Economic and Monetary Affairs Committee of the European Parliament this week.

Lagarde has been nominated to lead the European Central Bank (ECB) and has announced she will be leaving the IMF September 12th to focus on her bid for the ECB presidency.

Lagarde has been the Managing Director of the International Monetary Fund since July 2011. She is also a former Finance Minister for France.

Lagarde told the Economic and Monetary Affairs Committee that her leadership strategy at the IMF was based on, “Making the IMF more inclusive, enhancing its diversity and opening it to civil society…” as well as, “a determination to serve the public interest and to deliver on the justified expectations of the people.”