News Briefing - Crowdfunding, SME And Alternative Finance

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1. UK – FinTech

Money management app Plum has struck a new deal with New York-based Button to offer its paid for premium users a new cashback and rewards feature, according to AltFi. 

 

“Through Button’s API, offers are personalised to users. Customers will be rewarded with cash of up to 11 per cent each time they spend online with major retailers like ASOS, Groupon and FarFetch, with more retailers to be added soon. 

The new service is part of the Plum Pro offering which charges £2.99 per month. About one in four new users are converting to Plum's premium tiers (Plum Pro and Plum Plus), a spokesperson for Plum told AltFi. 

Plum Pro offers a number of features alongside the new Cashback: 

  • Access to FSCS-protected Interest Pockets with Investec currently at 0.6 per cent on cash. 
  • Access to its investment platform (also available by itself without the other Pro features for £1 a month). 
  • Ability to create multiple Pockets with recommended targets and goals based on spending. 
  • Smart saving rules which set money aside based on certain rules. 
  • Monthly diagnostics report. 
  • True Balance, its own algorithm calculating what is 'safe to spend' each month taking into account regular and usual expenses.” 

 

2. UK – FinTech 

Crowdfundinsider reports: 

“Peer to peer lender Assetz Capital has announced a partnership with Aros Kapital to assist with lending under the Coronavirus Business Interruption Loan Scheme (CBILS). Assetz Capital was approved for accreditation as a CBILS lender in May. 

Gustav Rocklinger, CEO at Aros Kapital Limited, stated: 

“We are delighted to be partnering with Assetz whose innovative platform ensures their unique and strong position in the UK SME funding market. Following our strategic decision to enter the UK market, we believe that Assetz will be an ideal long-term partner, sharing our ethos and business vision to support UK SMEs with flexible financing solutions not obtainable elsewhere, while producing attractive risk-adjusted returns.” 

Aros Kapital is described as a fast-growing Nordic financing provider focused on the SME segment. Aros Kapital provides loans, invoice financing and leasing for SMEs. It is also said to be cooperating with the European Investment Fund (EIF) to deliver loans to SMEs in Sweden.” 

 

3. UK – FinTech 

 

Finextra reports: 

 

“Exchange technology outfit Exberry has formed a partnership with Digital Asset to provide businesses with a ready-to-go, end-to-end infrastructure for the trading of virtual assets. 

The project combines Exberry's matching engine with Digital Assets' smart contract language DAML to fuel the registry functions. The two firms say the combination provides any business developing a digital asset marketplace with the ability to launch in a matter of days with a fully-compliant trading platform and a near risk-free post trade settlement registry.

Registry functions include the tokenization of assets, creation of users, and the settlement of trades in near real time.

The cloud-deployed exchange infrastructure addresses limitations of current exchange technologies that typically lean heavily on message-based connectivity, says Magnus Almqvist, head of exchange development at Exberry.” 

 

 

4. UK – FinTech/Real Estate 

UKTech News reports: 

“Offr, the prop-tech platform digitising the buying, selling and leasing process for real estate agents and buyers, has today announced it has raised £2.7 million in seed funding led by Barclays. 

Existing investors Delta Partners on behalf of Bank of Ireland, AIB, Enterprise Ireland, The European Investment Fund and Frontline Ventures also participated in the round. 

Launched just ten months ago with a mission to enable people to buy, sell, lease or rent a property with one-click, Offr enables fast, digital property transactions, from offer to exchange, on any device, at any time, and from anywhere in the world.” 

 

5. International – FinTech 

 

TransferWise has announced the expansion of its partnership with global payments giant Mastercard. AltFi reports: 

“The partnership will allow the fintech to issue cards in any market around the world where Mastercard is accepted and TransferWise is licensed.  

TransferWise issued its first Mastercard-backed debit card in 2018 and since then has issued over one million debit cards globally.  

Kristo Käärmann, CEO and co-founder of TransferWise, said: “We’re making it faster, cheaper and easier to move money around the world.”  

“As we think about the next phase in our international expansion, we want to ensure this process stays just as convenient whether you need a debit card in the UK or Japan. Building upon our partnership with Mastercard is important in maintaining that high level of convenience around the world.”  

As well as facilitating card issuance, the partnership will allow TransferWise customers in European countries to send money in real-time, enabling faster and easier international payments.”