Alternative finance

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Spanish fintech ID Finance raises €30 million

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Spanish fintech ID Finance raises €30 million

Spanish alternative lending platform ID Finance has closed a €30M equity round led by Kingsway Capital.

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ConTe.it Prestiti gets instant income verification with Tink

ConTe.it Prestiti, a new venture in the credit sector of Admiral Group Italy, has partnered with Tink, Europe’s leading open banking platform, to offer customers in ConTe.it Prestiti’s network an improved and instant lending application process.

Recognise Bank secures £25 million capital injection

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Recognise Bank secures £25 million capital injection

Digital SME lender and savings provider Recognise Bank has secured a £25m cash raise from its largest investor, PV27.

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French fintech Aria receives €50M in debt funding from M&G Investments

Founded in 2020, Aria has concluded a new €50 million debt fundraising with one of the world’s leading asset management and investment fund management companies, M&G Investments.

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Fintechs unite with launch of ‘Lenvi’

A trio of fintechs with years of industry-leading experience are joining forces to form a powerhouse set to take on consumer and commercial lending markets.

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British fintech SteadyPay closes $3 million Seed round

N1 fintech fund invested in SteadyPay, a British progressive lending platform with a co-founder from Ukraine.

Smart lending fintech Abound raises £500 million

/startups

Smart lending fintech Abound raises £500 million

Abound, a UK-based fintech that uses a combination of open banking and artifical intelligence to offer better loan deals to consumers, has raised £500 million in a mixture of debt and equity finance.

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Block makes first social impact investment in the UK

Block Inc (NYSE: SQ), a global technology company with a focus on financial services, is making its first social impact investment in the UK, providing £2m capital to ART Business Loans (ART), which is being matched by well-established ethical lender Unity Trust Bank.

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Bibby Financial Services boosts SME funding in Scotland

The UK’s largest independent invoice finance provider, Bibby Financial Services (“BFS”) significantly boosted funding for Scotland’s small and medium sized enterprises in 2022 as part of its ambitious national growth plan.

Swiss fintech Radicant sacks CEO

/people

Swiss fintech Radicant sacks CEO

Radicant Bank, a Switzerland-based digital bank, has sacked its CEO and co-founder after an internal email blasting critics and local politicians was leaked online.

Car finance fintech Carmoola closes £8.5m Series A

/startups

Car finance fintech Carmoola closes £8.5m Series A

UK car finance fintech Carmoola has raised £8.5 million in a Series A funding round and secured another £95 million through a debt facility.

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Bibby Financial Services and Coface ally to secure Irish SME funding

Bibby Financial Services, a leading provider of financial support and funding solutions to Irish SMEs, and Coface, a global leader in trade credit insurance, have joined forces in a new collaboration to help SME’s in Ireland access securely structured funding solutions while also ensuring they are protected against potential lost revenue.

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Visa and Froda unveil push-payments for SME business loan market

Access to financing has long been a major hurdle for businesses eyeing growth. Against this backdrop, Visa, Froda and Lunar are announcing a global partnership and launching a new, innovative technology aimed at resolving these issues – for good.

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London fintech kennek raises $4.5 million pre-seed funding

London-based fintech firm kennek has raised a $4.5 million pre-seed funding round.

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Salad Money secures £40m debt facility to get credit to public sector workers

Social purpose fintech Salad Money will serve rocketing demand for affordable credit from NHS and public sector workers thanks to a new senior debt facility of up to £40m with a US-based credit fund.

/Alternative finance

iwoca hits net profitability; increases funding line

The total number of customers funded across the UK and Germany - including all products and repeat customers - grew by over 50% in 2022 vs 2021. iwoca funded 15,429 businesses in 2022, an increase of 54% from 2021.

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South African digital lender Lulalend scores $35 million Series B

Lulalend, the South Africa-based digital lender catering to underserved small and medium-sized enterprises (SMEs), has finalised a transformational $35 million (R600 million) Series B funding round.

Liberis secures €30 million in debt financing from Silicon Valley Bank

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Liberis secures €30 million in debt financing from Silicon Valley Bank

Embedded business finance platform Liberis has secured €30 million in debt funding from Silicon Valley Bank to expand into Germany and Poland and the Nordics.

/payments

HES Fintech selects Acquired.com for expansion across the UK

HES Fintech, a leading provider of intelligent lending platforms has today announced a partnership with Acquired.com, a UK payments specialist and payment initiation service provider, through which lenders using HES’ technology will be able to leverage a sophisticated payment solution designed to enable the rapid disbursement of loans and seamless borrower-centric collection methods.

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Northern Arc Capital ships NuScore for microfinance companies

Northern Arc Capital, one of India’s leading diversified financial services companies today launched Nu Score, a proprietary credit scoring solution.

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