Alternative finance

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/Alternative finance

EPA calls for wider account access

The Emerging Payments Association (EPA) has today published its response to the publication of UK Finance’s good practice guidelines on Access to Payment Account services.

/retail

Kabbage gets $200m revolving credit facility

Kabbage, Inc., a data and technology company offering automated cash flow solutions to small businesses, closed a $200 million revolving credit facility to support its rapid growth providing U.S. small businesses access to flexible, online funding.

/Alternative finance

N26 makes mobile transfers available to UK users

N26, Europe’s largest digital bank, has introduced MoneyBeam for its UK users, allowing them to send money instantly to fellow N26 users.

/Alternative finance

LendingCrowd appoints chief risk and compliance officer

LendingCrowd, Scotland’s only fintech lending platform, has appointed Robbie McKenzie to the newly created post of General Counsel and Chief Risk & Compliance Officer.

/retail

Trade Ledger launches invoice finance platform

Trade Ledger, the world’s first open banking business lending platform has launched a new turn-key Automated Invoice Finance Platform for banks and alternative finance providers looking to deliver faster and more flexible working capital solutions to their business customers.

/retail

LendInvest completes UK's first fintech securitisation with £259m transaction

LendInvest, the marketplace for property finance, has securitised £259 million of UK prime Buy-to-Let mortgage loans in an oversubscribed RMBS transaction.

/Alternative finance

Line Pay and Visa partner for digital payments

LINE Pay Corporation, operator of digital wallet and fintech services on the LINE messaging app, and Visa (NYSE: V), the global payments leader, today announced a strategic partnership that will see them create new financial services experiences for their collective user bases of millions of consumers and merchants worldwide

/retail

Biz2Credit closes $52m Series B financing round

Biz2Credit Inc., the leading online lending platform that helps banks and other financial institutions manage small and medium business (SMB) lending processes and makes it easier and faster for SMBs to access working capital, announced that it has completed a Series B capital financing round of $52 million led by WestBridge Capital.

/regulation

FCA confirms new rules for PP platforms

Following consultation, the Financial Conduct Authority (FCA) is introducing rules designed to prevent harm to investors, without stifling innovation in the peer-to-peer (P2P) sector.

/startups

Fundrr takes on South African SME lending market

There are 2.4 million SMEs in South Africa that employ around 60 – 70% of the working population, but this market experiences a dearth of funding, causing a R86 billion credit gap for small businesses. Each year, the number of SMEs in the country decreases due to their inability to access finance.

/Alternative finance

Banking Circle issues white paper on financial inclusion

Ground-breaking financial utility, Banking Circle, is on a mission to improve access to global financial services for businesses of all sizes.

/Alternative finance

FIME launches testing platform for digital payments

FIME continues innovation and adapts testing in line with the rapid digital transformation of the global payments industry.

/retail

SoFi raises $500m

SoFi, a mobile-first personal finance company, announced today it has closed over $500 million in equity financing led by Qatar Investment Authority (QIA), which values the company at $4.3 billion on a pre-money basis.

/Alternative finance

Azlo and Kabbage team on small business lending programme

Azlo, a U.S. online banking platform, and Kabbage, Inc., a cash-flow technology and small business lending platform, announce the launch of Mission Street Capital, a new program that provides small businesses banking with Azlo access to loans through Kabbage® up to $250,000.

/regulation

Supply chain finance outfit CapitalBay gets Malaysian regulatory green light

CapitalBay, an award-winning Malaysian multi-bank supply chain finance platform has received the approval from the Securities Commission Malaysia (SC) to operate a peer-to-peer (P2P) financing platform.

/retail

BlueVine appoints Herman Man chief product officer

BlueVine, which provides small- and medium-sized businesses with access to fast and simple online financing, announced today that it has named Silicon Valley technology and engineering verteran, Herman Man, its Chief Product Officer.

/startups

Finitive raises $6m

Finitive, a financial technology platform providing institutional investors with direct access to alternative lending investments, announced today that the firm raised approximately $6 million in a series seed financing.

/retail

Canada's Lendified raises $15m

Lendified Holdings Inc. (“Lendified”), a Toronto-based financial technology company, is pleased to announce that it has successfully closed a $15 million funding round with institutional and private investors.

/retail

Canadian POS financing outfit Financeit makes hire for US push

Canadian based point-of-sale financing provider, Financeit, announces industry veteran, Steve Olszewski, in the role of General Manager leading its U.S. division.

/Alternative finance

Kabbage gets $700m in debt funding

Kabbage, Inc., a global financial services, cash flow technology and data platform for small businesses, closed the largest asset-backed securitization (ABS) by a small business online lending platform to date for $700 million.

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