Alternative finance

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/retail

OnDeck gets $85m credit facility

OnDeck (NYSE: ONDK), the leader in online lending for small business, announced today the closing of an $85 million corporate revolving credit facility with a lender group consisting of four banks.

/startups

Minneapolis’ Apruve raises $6 million in funding

Apruve, a B2B credit automation platform, today announced that it closed on $6 million in its Series A financing led by Cloud Apps Capital Partners with participation from TTV Capital and Allegis Capital.

/retail

Lending Express opens for business in California

Lending Express, a technology company dedicated to creating a better world of funding for SMBs, today announced they’ve surpassed $100 million in financing facilitated between small and medium business owners and online lenders.

/Alternative finance

Fellow Finance expands to Denmark

Fellow Finance is expanding its peer-to-peer lending platform to Denmark.

/startups

Growth Street scores £7.5m scale-up round led by Merian Chrysalis

Signalling a vote of confidence in British fintech, business lending platform Growth Street has raised a £7.5m scale-up investment round led by the Merian Chrysalis Investment Company Limited (Merian Chrysalis).

/retail

Alternative lender Capify scores $95m Goldman Sachs credit facility

Capify, a leading alternative small business finance provider in the UK and Australia, has secured a £75 million (approx. $95 million USD) credit facility from Goldman Sachs Private Capital ("Goldman Sachs") to support its future growth plans and provide working capital to thousands of Australian and British small businesses over the coming years.

/payments

Coconut partners with PrePay Solutions to launch accounts and invoicing product

PrePay Solutions (PPS), Europe's leading digital banking and payments provider, has enabled functionality for current account service providers, Coconut, to launch a limited company accounting and invoicing product.

/Alternative finance

Kabbage brings pay later financing to Alibaba.com buyers

Kabbage, Inc., a global financial services, technology and data platform serving small businesses, now powers the Pay Later program offered to U.S. buyers on Alibaba.com, Alibaba Group’s (NYSE: BABA) online platform for global B2B trade.

/startups

KBC Corporate Banking signs cooperation agreement with two Belgian fintechs

KBC Corporate Banking is to collaborate with Cashforce and BrightAnalytics to provide Belgian businesses with enhanced support for their working capital management, cash flow forecasting and management reporting. The tie-up could also develop over time into a more structural partnership.

/Alternative finance

Factris acquires Debifo

Factris announced the successful conclusion of the 100% acquisition of “Debifo” for an undisclosed purchase price.

/retail

Indonesia's KinerjaPay scores major investment

KinerjaPay Corp., a Delaware corporation (OTCQB: KPAY), a digital payment and e-commerce platform, ("KinerjaPay" or the "Company") announced that it has received a signed commitment from PT. Investa Wahana Group, Indonesia to invest $200 million, subscribing for $100 million in shares of the Company's Series F and an addition $100 million in shares of the Company's Series G Convertible Preferred Stock.

/payments

Equiniti Riskfactor wins US client Eagle Business Credit

Equiniti Group plc, the FTSE-listed share services and fintech business, is delighted to announce that its risk management business, Equiniti Riskfactor, has been awarded a contract with Eagle Business Credit, the Atlanta-based factoring company which launched in 2013 and provides flexible funding solutions for small businesses.

/Alternative finance

Funding Options picks up Open Up Challenge prize

Business finance marketplace, Funding Options, has been announced as one of the winners of the second phase of Nesta’s ‘Open Up Challenge’ - one of only three companies to have won both stages of this challenge.

/retail

Mambu powers Lendico Switzerland

Mambu, the leading SaaS banking engine today announced it is powering Lendico Switzerland AG, helping the Swiss marketplace lender bring its digital alternative to traditional small and medium-sized enterprise (SME) financing to the Swiss market.

/retail

British Business Bank to lend SMEs £150m through Funding Circle

The British Business Bank today announces a commitment of up to £150m for lending to UK small businesses through Funding Circle, a global small business loans platform.

/Alternative finance

Funding Options to join Starling Bank's in-app marketplace

Award-winning business finance marketplace, Funding Options, will soon be part of Starling Bank’s in-app marketplace for small businesses.

/Alternative finance

LendingCrowd appoints Darren Cairns as chief marketing officer

LendingCrowd, Scotland’s only fintech lending platform, based in Edinburgh, has appointed Darren Cairns as the company’s new chief marketing officer (CMO).

/startups

Whirl launches crowdfunding platform

An all-star team of nonprofit, blockchain, and crowdfunding veterans, including Roel Wolfert (Bancor, VISA) and Martijn Hekman (World Vision, United Nations), is thrilled to announce the launch of Whirl, a socially driven crowdfunding platform that's built on the blockchain.

/ai

Tricolor adds AI to improve risk scoring for underserved Hispanic community

Tricolor, the nation’s largest used vehicle retailer focusing on the sale and financing of vehicles to the Hispanic consumer, today announced an exclusive agreement with Phenx Machine Learning Technologies, Inc.,to expand an artificial intelligence (AI)-powered financial services platform serving Hispanic consumers.

/Alternative finance

Iwoca names Seema Desai new COO

iwoca, one of Europe’s fastest growing small business lenders, is delighted to announce that Seema Desai has been named Chief Operations Officer (COO).

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