Alternative finance

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Metro Bank boosts SME offering with new fintech partnerships

/retail

Metro Bank boosts SME offering with new fintech partnerships

UK challenger Metro Bank is beefing up its offering for business customers through a trio of fintech partnerships.

81% of banks would collaborate with fintech partners to execute digital transformation - Finextra

/payments

81% of banks would collaborate with fintech partners to execute digital transformation - Finextra

At EBAday 2019, hosted by Finextra in association with the EBA, it was revealed that 81% of banking executives would collaborate with partners to execute digital transformation most effectively.

/regulation

Revolut selects Bearingpoint Regtech to manage regulatory requirements

BearingPoint RegTech, a leading international provider of innovative regulatory and risk technology solutions (RegTech and RiskTech), welcomes the UK-based financial technology company Revolut as a new customer for its Abacus360 Banking solution. Revolut will be using Abacus360 Banking for EBA and AnaCredit reporting.

Tide rolls out credit product

/Alternative finance

Tide rolls out credit product

UK business banking platform Tide has launched a subsidiary company, dubbed Tide Capital, that will offer instant transactional credit lines to pre-approved applicants.

/startups

Fintech Sempli secures 8mn USD in series A raise

Sempli, the leading online lending platform for small businesses in Colombia, has secured a USD 8 million Series A round led by Oikocredit and Incofin CVSO.

B2B network Fundbox raises $176 million

/Alternative finance

B2B network Fundbox raises $176 million

B2B payments and credit network Fundbox has raised $176 million in growth equity funding for its Series C round.

/Alternative finance

Surecomp appoints Eyal Hareuveny as new CEO

Surecomp, the global trade finance fintech leader, made several top-level management organisational announcements today.

/Alternative finance

MatchMove acquires strategic stake in local digital lender MoolahSense

MatchMove, the award winning ‘Bank-As-A-Service’ platform has closed an agreement with licensed P2P lender, MoolahSense, to acquire a strategic stake with immediate effect.

/Alternative finance

NatWest's Esme Loans increases loan limit to £250,000

Esme Loans, NatWest’s standalone digital lending platform for SMEs and scale up businesses, has today announced that it has increased its credit appetite with the maximum loan amount moving to £250,000 from £150,000 to support more UK SMEs than ever before.

/payments

BlueVine hires PayPal vet Brodigan as chief commercial officer

BlueVine, which provides small and medium-sized businesses with access to fast and simple online financing, today announced that it has named fintech veteran Brad Brodigan its Chief Commercial Officer.

Tech Nation opens applications to scale up the new Monzo or Starling

/Alternative finance

Tech Nation opens applications to scale up the new Monzo or Starling

Entrepreneur network Tech Nation has opened applications for three of its growth programmes: Future Fifty, Upscale and Rising Stars. These initiatives have proved to be successful in the past with alumni including the likes of Monzo, Starling Bank, Funding Circle, Darktrace, Deliveroo and Skyscanner.

/Alternative finance

Wirecard to issue digital payout cards and virtual wallets for Credibly small business customers

Wirecard, the global innovation leader for digital financial technology, and Credibly, a US-based business funding fintech, have launched a new collaboration to digitalize Credibly’s funding disbursements.

/Alternative finance

Sonovate raises £110 million in debt and equity financing

Sonovate, the UK’s leading finance and back-office tech provider to recruitment agencies and consultancies, has secured £110million debt and equity finance, led by M&G Investments, MXB Holdings Inc, Dawn Capital and Rocket Internet SE.

/retail

Goeasy invests in PayBright

goeasy Ltd. (TSX: GSY), a leading provider of financial services for non-prime Canadians, announced today that it has entered into a strategic partnership and agreed to make a minority equity investment in PayBright, a Canadian fintech platform focused on instant point-of-sale consumer financing and installment payment plans.

Chinese official voices digital coin plans

/Alternative finance

Chinese official voices digital coin plans

More details have emerged around China's plans to issue its own digital coin following a lecture given by a senior official at the central bank.

Stripe gets into the lending game

/Alternative finance

Stripe gets into the lending game

Payments giant Stripe is stepping up its diversification efforts, launching a cash advancement service for the internet firms that already use its services.

/startups

Capcito raises EUR7m for SME financing platform

Capcito has closed an investment in the amount of EUR 7 million. Schibsted Growth and pan-European VC Ventech have joined owners SEB Venture Capital and Collector Ventures in support of Capcito’s next stage of growth.

Accion raises funds to invest in seed stage financial inclusion fintech startups

/inclusion

Accion raises funds to invest in seed stage financial inclusion fintech startups

Non-profit group Accion International is boosting its investment initiative for seed stage fintech startups working on financial inclusion, raising $23 million from investors and adding another $10 million from its own pocket.

/retail

LendingPoint closes inaugural securitization of consumer loans

LendingPoint, the company revolutionizing and democratizing commerce, announced today that it closed its inaugural securitization of consumer loans. LendingPoint Receivables Trust 2019-1 ("LDPT 2019-1") issued $177.85 million of notes backed by a pool of $187.22 million of direct-to-consumer loans originated on the LendingPoint platform.

/startups

Indonesian digital credit platform Kredivo secures $20m debt line

Jakarta-headquartered Kredivo, the leading digital credit platform for retail borrowers across Indonesia, and Partners for Growth V, L.P. (PFG), a leading venture debt firm in the U.S. and Australia, announced today the closing of a debt line of up to US$20m to fund loans for Kredivo’s borrowers in Indonesia.

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