1.UK – FinTech
“London-based fintech company Proportunity has raised a £2m seed investment to grow its analytics and lending platform, which uses AI to crunch data and offer home equity loans to first-time buyers.
The startup claims to be the only “Help to Buy” challenger to date that has actually helped consumers own homes.
Since becoming FCA authorised in 2018, Proportunity has grown to over 5000 users and lent on properties worth over £10m. Besides scaling its consumer base, this latest funding has been earmarked to help the startup grow its network of partnerships with real estate agencies and mortgage brokers.”
2. UK – AltFi/SMEs
“Metro Bank, the challenger bank, has announced a trio of fintech and SME partnerships in a move designed to better support hundreds of thousands of SMEs in the UK.
The new partnerships come as Metro Bank deploys the £120 million funding it was awarded from the Capability & Innovation Fund, alongside the bank’s own investment, to increase competition and choice in the banking sector.
The bank’s customers will be able to use Funding Options’ technology to scan the business lending marketplace and compare financing options from more than 70 lenders. This gives customers access to an ‘alternative yes’ if Metro Bank isn’t able to support their financing needs.”
3. US – P2P
In fact, only 15 percent of women-owned firms raise at least $100,000 in funding. Compare this to 28 percent of male-owned businesses.
Co-Founder and President of Kabbage Kathryn Petralia addressed this issue in an email interview with Small Business Trends.
“Venture capital has, unfortunately, underserved female founders, but as more women become VCs and female founders can better identify with and more easily access the VC ecosystem, that will change.”
4. International – P2P
“China’s central Hunan province will ban all peer-to-peer (P2P) lenders, a local financial regulator said on Wednesday, in the most radical action taken by a provincial government against the industry notorious for frauds and defaults.
None of the 24 local P2P lending platform operators investigated by authorities complied with regulations, the Hunan Provincial Local Financial Supervision Administration said in a statement.”
5. International – P2P
“Crowdfunding platform Patreon have announced that they will be opening a new office in Dublin which will serve as their European headquarters.
The expansion of their operations in the European market through Ireland will see an initial 30 new jobs created over the next 2 years.
Positions being opened will be involved with their engineering, product and administrative teams respectively.
Patreon has experienced significant growth since its inception in 2013 and the platform has become an important tool for content creators and publishers online.”