News Briefing - Crowdfunding, SME And Alternative Finance

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1. UK – FinTech 

The FinTech Time reports:

“The world of online trading is maturing; but it is still feeling the pain points of a rapidly growing and evolving marketplace where entrants face multiple barriers to operate because established financial institutions have a fear of the unknown.

 

Anders la Cour, co-founder and Chief Executive Officer of financial infrastructure provider, Banking Circle, discusses the implications of a recent study into access to financial services for SME online merchants, and how financial institutions can step in to help fill the gap.

“As an innovative financial infrastructure provider that aims to help BanksFinTechs and Payments businesses improve financial inclusion for smaller businesses, we build our solutions from the ground up. Through detailed market research, we have identified the gaps in the market which our solutions can then address. Consequently, we carry out regular studies to uncover pain points and gaps we can help FinTechs and Payments businesses fill.”

 

2. US – FinTech

 

Crowdfundinsider reports the latest on former Lending Club CEO, Renaud Laplanche:

 

Upgrade is a consumer online lender and emerging digital bank that recently announced a significant funding round that gave the Fintech a $1 billion valuation. Founded by Renaud Laplanche, this is the second Fintech he has founded that moved into the unicorn realm the first being LendingClub (NYSE:LC). Upgrade’s funding round, led by Santander InnoVentures and managed by FT Partners, is significant due to the fact it came during the midst of the global Coronavirus pandemic. Upgrade’s success may be a barometer for the ongoing interest in backing fast-growing Fintech firms – especially in a world that has seen accelerating digital transformation – boosted by the health crisis.”

 

3. International- FinTech

AltFi reports:

“Just three months after scooping up $100m in one of the year’s largest fintech funding rounds, identification verification startup Onfido has posted a huge jump in 2020 sales. 

CEO and co-founder Husayn Kassai said yesterday that the startup had seen a 69 per cent jump in sales during the first six months of the year, with 22 per cent of that driven by new customer demand. 

In the last quarter alone new customers like WorldRemit and enterprise identity service Okta have helped to lift Onfido’s sales by 40 per cent versus the first quarter of 2020.”

4. International – FinTech

UK TechNews reports the latest in personal identification trends.

 

5. International – FinTech

AltFi reports:

“Nicolas Weng Kan, who previously held the CEO position at both Confused.com and Google Compare, has been appointed as CEO of Yolt. 

In his new role, which was confirmed by parent company ING Ventures, Weng Kan will oversee both financial management app Yolt and the fintech’s open banking arm Yolt Technology Services (YTS)

Yolt currently has 1.5m registered users and YTS makes roughly 22m open banking API calls every week. 

Weng Kan has nearly three decades of experience, having worked in senior positions in the UK, Taiwan, Japan and China. 

As well as holding several top positions at large corporations, Weng Kan’s most recent venture was more of a passion project, founding his own startup ONEZERO-ME, a digital credit and risk scoring fintech.”