1. UK – FinTech
“Money transfer group TransferGo has appointed Edgardo Savoy as its new chief technology officer.
Savoy, who has over two decades of product and technology developing experience, will preside over a team of more than 60 engineers.
In his 25 years in the industry, Edgardo Savoy has previously held senior roles at Paddy Power, lastminute.com and The Restaurant Group.”
2. UK – FinTech
“UK fintech start-up Nude, which helps people save for their first home, has raised £3.3m following the launch of a Seedrs campaign. Since going live on the 6th of July, Nude has surpassed 96% of its £3.5 million target, much of which was secured over the weekend before the campaign was fully launched to the public.
Nude was formed to stand up for first-time buyers, improve the outdated home-buying experience and change a part of society that they believe is unfair.
The new savings account, financial coach and app has been designed to help aspiring home-owners better understand their finances and the home-buying process, so they can save for and buy their home faster.”s
3. UK - FinTech
Payments provider Fractal and tax app Untied have teamed-up as part of a bid filed last month for part of the BCR’s £100m Pool E fund. AltFi reports:
Fractal and Untied have made two joint applications, for £5m and £2.5m, which the duo plan to use in order to commercialise a cash flow management tool called SMART (SMEs Manage Accounts Receivables and Tax).
The tool will help sole traders anticipate costs, specifically around tax payments, which often come as a shock to this group, of which Untied found 51 per cent don’t even know their HMRC logins.”
4. UK – FinTech
“The cautionary tale of Wirecard is still circling the fintech world, with questions for both industry leaders and the Financial Conduct Authority (FCA) still to be answered. When the German-based Wirecard filed for insolvency, it started a cascade that affected thousands in the UK, as the FCA quickly suspended its local transactions. Understandably, the industry wants to hear from the regulator on just how it plans on improving safeguarding regulations for e-money institutions – and what’s more, some fintechs have their own ideas.
Currently, the FCA is consulting on payment firms safeguarding and has confirmed in its latest business plan that making payments safe and accessible is one of its top priorities. An FCA spokesperson told The Fintech Times that “The FCA will continue to proactively supervise firms in this sector and will act swiftly where firms fail to meet safeguarding and other regulatory requirements.”
However, for some fintechs the FCA isn’t moving fast enough, especially when examples of best practice exist in other countries around the world.”
5. International – FinTech
“KlickOwn, a real estate crowdfunding platform based in Germany, has completed its first security token offering (STO) for a property. As was reported last March, KlickOwn had listed a digital bond for a building located in Lüneburg, Germany – called “Historisches Lüneburg“. The digital security has raised its €1.5 million goal for a digital security that is anticipated to generate a 5% return annually. Investors could participate in the offering for as little as €10 – due, in part, to the low-cost blockchain-based securitization process.
The digital security was completed in partnership with BitBond, previously an online lending platform that is now providing security token technology. Bitbond completed Germany’s first security token offering receiving BaFin approval for their own tokenized bond in January 2019. Berlin-based Bitbond claims bank-grade technology.
Regarding the offering on KlickOwn, the Historisches Lüneburg security offering was said to be fully digitalized using blockchain technology. KlickOwn uses the crypto custody service of Bankhaus von der Heydt for the safekeeping of the digital assets for investors.
Bankhaus von der Heydt is one of the oldest, independent private banks in Europe, and has been a partner for entrepreneurial investments and innovative investment
structures for more than 250 years. The German bank is looking to specialize in the launch and management of digital assets and is described as playing a pioneering role in Germany in regards to digital assets.”