News Briefing - Crowdfunding, SME And Alternative Finance

pied piper followed by children

1.UK – FinTech/P2P

AltFi reports:

“The original P2P lending platform Zopa is set to secure an investment of £130m, enabling the pioneering fintech lender’s pivot into banking to fully launch.

Zopa passed £4bn of loans facilitated through its core P2P business for UK consumers in March 2019, in part thanks to strong inflows to its ISA last year, with an expectation that it would see an accelerating run-rate of lending through 2019. Recently, however, the firm has been laser-focused on the launch of its “next-generation” bank.

With a looming regulatory deadline to raise money, the long-awaited launch had begun to look at risk of serious delay.

Zopa gained its bank licence with restrictions in December 2018, having been building its bank platform since early 2017, but needed new cash to meet regulatory capital requirements within 12 months of the issuance in order for it to convert into a full license.”

 

2. International – FinTech/P2P

Uncapped, a London headquartered and Warsaw-based startup that wants to provide “revenue-based” finance to growing European businesses, is officially launching today and disclosing that it has raised £10 million in funding, reports TechCrunch.

“The capital is a mixture of equity funding and debt (money it can use for lending), and sees the fintech company backed by Rocket Internet’s Global Founders Capital, White Star Capital, and Seedcamp.”


3. International – AltFi

 

Venture Beat reports:

 

“Breed Reply, Europe’s leading active operational Internet of Things (IoT) investor, is pleased to announce that its investee companies have attracted £150m in investments with over 30 institutional and industrial investors from across Europe, the United States and Asia co-investing with Breed Reply.”

 

4. International – FinTech

 

Crowdfundinsider reports:

 

“Amsterdam-based Fintech firm Bunq is introducing a new metal card, called the Green Card. While traditional banking institutions offer some type of cashback program with premium cards, Bunq aims to offer its own kind of “cashback.” For every €100 (appr. $110) users spend with the card, Bunq will plant a tree.

The internationally active Dutch mobile bank has teamed up with Eden Reforestation Projects to help fund reforestation throughout the world.

Manufacturing metal cards isn’t environmentally-friendly, however, Bunq’s Green Card remains valid for a six-year period, instead of expiring in only four years. The card is reportedly made of recyclable material.

The Green Card works like a typical travel card. Although Bunq provides the option of opening a traditional bank account, people can use the company’s travel card or Green Card while maintaining their existing bank account.”

 

5. International – FinTech/P2P

Finnish fintech lender has struck a partnership with Baltic bank Citadele that will see the former firm fund loans through the peer-to-peer lending platform, which isthe largest in the Nordics, according to AltFi.

“German platform Crosslend, meanwhile will securitize the initial €15m of loan assets which will be held by  Citadele. 

Citadele says it is the first bank in the Baltic states, to invest in consumer loans via a peer-to-peer lending platform.”