1.UK – AltFi
“Carlauren, reviewed here in April 2018, raised money from investors promising 10% per year returns from investment in care homes. The company run out of money to pay investors in February 2019, and its collapse has meant frail and elderly care home residents being ejected with 24 hours’ notice, and hotel properties left to rot.
On the public Facebook group Sandown Hub, a resident of Sandown noticed that one of its former introducers, One Touch Property Investment (officially One Touch Solution Ltd), was apparently continuing to sell units in its care home.
One Touch clarified that it was no longer selling Carlauren investments. In the ensuing thread, it revealed that it has approached a “fraud litigation solicitor” on behalf of investors to pursue Carlauren over “misrepresentation”.
2. UK – AltFi
“Complex regulatory, statutory and criminal investigations are underway after some 11,600 members of the public suffered major losses following the collapse of mini-bond issuer London Capital & Finance (LCF) earlier this year.
It is widely hoped that these investigations will ultimately lead to the establishment of an effective regulatory regime for mini-bond issuers.
On 18 March 2019, the Serious Fraud Office (SFO) made four arrests in connection with the collapse of the high-risk lender.
At that stage, it was known that LCF’s sales agent Surge Financial was being paid 25 per cent commission on the funds it raised for LCF.
Administrators Smith and Williamson put the total commission paid at some £60m. Last June, the chief executive of Surge Financial, Paul Careless, was also arrested and questioned by SFO officers.”
3. International – AltFi
“An investment business run out of Singapore has launched a bid to take Glint out of administration, with the support of several Glint Pay shareholders, but without the support of the company’s management.
The consortium, called Intl Ventures Pte Ltd, is being led by Nimoi Holdings, the Singapore-based family office of Alexander and David Fergusson.
The exclusivity agreement is because Nimoi in July acquired the loan first granted to Glint by Brahma Finance Limited in January, the loan which AltFi reported had triggered the company’s administration.
David told AltFi that Nimoi attempted to acquire Glint earlier this year, but were rebuffed by the board and management.”
4. International – Equity
“ID Finance, said to be the fastest-growing Fintech in Spain, is queuing up a crowdfunding offering on Crowdcube. ID Finance reports that it should hit €90 million in top-line revenue this year making it one of the largest companies to raise capital on Crowdcube so far. ID Finance claims to be on track to top €300 million in revenue within 2 years – a bold prediction. The company also expects to originate USD $1 billion in loans by 2021, according to its website.
ID Finance is a data science, credit scoring and online lending Fintech based in Barcelona. Currently operating in Spain, Mexico and Brazil, ID Finance expects to provide services in a growing number of countries.”
5. International – Equity
“Barcelona-based fintech ID Finance is turning to crowdfunding platform Crowdcube, as it targets a revenue boost.
ID Finance is calling out to its existing investors and its clients to invest in the company through Crowdcube, Britain's biggest equity crowdfunding
site by volume of deals.
ID Finance said: "The investment amount is limited and priority access will be given to those who pre-register on its website."
The move marks the first equity crowdfuding round via Crowdcube undertaken by ID Finance.
It comes as ID Finance says it's on course to double its revenues to €90m (£80m) this year and is targeting €300m (£268m) plus revenues within two years.”