News Briefing - Crowdfunding, SME And Alternative Finance

Entrepreneur demostrates equipment to men in suits

1.UK – Equity

AltFi reports:

“Investment platform and AltFi’s Crowdfunding Platform Of The Year for 2019PrimaryBid, has signed an agreement with the London Stock Exchange (LSE) to broaden its integration.

The integration will see companies listed or listing on the LSE to quickly include retail investors in share offerings on the same terms as institutional investors.

“We are excited to be working with London Stock Exchange in laying down the digital infrastructure that gives everyday investors equal access to capital markets transactions on the same discounts as the institutions,” said Anand Sambasivan, CEO of PrimaryBid.

 2. UK – FinTech


Gold payment app Glint is no longer in administration after its management team secured £5.7m to settle its debt, according to AltFi

“The rescue comes two months after AltFi exclusively revealed that one of Glint’s creditors had triggered its administration, and later launched a hostile takeover bid.

“I would like to thank existing and new shareholders who have backed the Company with a fresh injection of financing,” said Jason Cozens, Glint’s CEO and Founder.

“I understand the frustration of our customers, with whom Glint has been barred from communicating by the Administration process. I can only apologise for the inconvenience caused by the disruption.”

Glint customers have had their accounts frozen throughout the administration process, leaving many frustrated especially as the price of gold has fallen around 3.9 per cent during that time.”


3. US – FinTech

Crowdfundinsider reports:

“Grayscale Bitcoin Trust (OTC:GBTC) became the first-ever publicly traded Bitcoin investment vehicle in the US in 2013. It has grown to become the largest Bitcoin investment product in the world. In October, GBTC announced its largest quarterly inflow of capital.

The Trust started as a private placement available only to accredited and institutional investors. In 2015,  Digital Currency Group (DCG) received approval for the Trust to trade publicly on OTC Markets.

This week, DCG filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) on behalf of Grayscale Bitcoin Trust.

This is a voluntary filing that, if deemed effective, would designate the Trust as an SEC reporting company and register its shares pursuant to Section 12(g) of the Securities Exchange Act of 1934.

If the SEC gives the Trust a green light, it will designate the Trust as the first digital currency investment vehicle to attain the status of a reporting company by the SEC. (Not to be confused with an exchange traded fund or ETF).”


4. US – FinTech


Republic, an investment marketplace offering both traditional securities or more esoteric digital offerings, is powering the “first-ever legally compliant free private equity incentive program or “Sharedrop,” reports Crowdfundinsider.

“Obviously, the name takes a cue from the widely utilized airdrop feature during the ICO heyday.

Banking Fintech Linen App is offering $300,000 worth of investment in the company using a Simple Agreement for Future Equity (SAFE) to prospective users for downloading and signing up for the app.

Linen is planning to offer a whopping 4.65% APY on assets held via its platform.”


5. International - FinTech


TechCrunch reports:

“India’s RazorPay, one of the largest payments processing firms in the country, today announced a range of new services aimed at startups, businesses, merchants and freelancers as the Bangalore-based firm expands the reach of its financial platform in the nation.

The startup, which raised $75 million from Ribbit Capital and others in June this year, today introduced a new kind of corporate credit card and some banking services for startups and SMEs, and a new payment option for individuals to quickly receive money from their clients.

All of these services are solving some major challenges faced by tens of millions of businesses in the country. Even as startups are increasingly getting acceptance in Indian homes, banks in the nation are still wary of offering some financial services to them. Most “unprofitable” startups today can’t get a corporate credit card from a bank in India, for instance.”