1.UK – P2P
“Funding Circle is piloting a scheme that involves it referring borrowers wanting large, unsecured loans away from its peer-to-peer lending platform to rivals.
Instead of turning down the customers, the peer-to-peer lender is advising borrowers wanting unsecured loans above £500,000 to sign up with its rivals, which it receives a referral fee for.”
2. UK – FinTech
“Money&Co, the loss-making peer-to-peer lending platform set up in 2013 by City fund manager Nicola Horlick, plans to apply for a UK banking licence next year to allow it to begin taking deposits from retail investors.”
3. US – FinTech
4. International – FinTech
“Fast-growing fintech firm Revolut will confirm today the worst kept secret in the City; Martin Gilbert, the asset management titan, is to become its new non-executive chairman.
The move – unsurprising though it may be – is a stark reminder of the startup company’s ambitions to become a global bank.
In the last six months alone, chief executive Nikolay Storonsky has lured in some of the banking industry’s biggest names.”
5. International – FinTech
“Partner Suranga Chandratillake told AltFi that 20% of Balderton’s last fund went into fintech, and that a similar percentage would be invested this time.
“We are bullish, there is still a huge amount of opportunity in that space. We are looking for people who have a unique take on the market,” he said.
Chandratillake said going forward there were three things the VC will be looking for when investing in fintech companies: “multi-million dollar markets, an interesting founder who has a particular personal element to their mission, and people who want to make a lasting impact”. “