Alternative finance

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/Alternative finance

Portal Finance raises $1.6 million seed from Magma; $200 million debt commiment from BTG Pactual

Portal Finance, an invoice-backed finance company that streamlines access to capital for small- and medium-sized businesses in Latin America, raised US$1.6 million in a seed investment round led by the US-Latin America venture capital fund, Magma Partners.

/Alternative finance

Glint prepares for US launch

Glint, the fintech company on a mission to provide everyone with a reliable form of money is now set to enter into the US market with its alternative to banking by introducing a global currency account that uniquely enables gold to be used as money.

Upgrade scores $62 million investment round

/Alternative finance

Upgrade scores $62 million investment round

Upgrade, the consumer credit platform launched by former LendingClub Chief Renaud Laplanche, has closed a $62 million Series C round led by China's CreditEase Fintech Investment Fund.

WeChat Pay launches in Malaysia

/Alternative finance

WeChat Pay launches in Malaysia

WeChat, China's most popular social media app, has launched its digital payments service, WeChat Pay, in Malaysia, marking its first product to be released in Asia outside of China and Hong Kong.

/Alternative finance

Former HSBC corporate banking head Boothroyd joins Lendy as non-exec

Nigel Boothroyd, former HSBC Corporate Banking head, has been appointed as a Non-Executive Director by Lendy, one of Europe’s leading peer-to-peer secured property platforms.

/Alternative finance

UK startup, Capital On Tap secures £140 million in debt funding

Capital On Tap, one of the UK’s fastest growing companies, has secured a total of £140 million in additional funding in the form of £90 million in debt funding from London-based investment houses, M&G Investments and Triple Point Investment Management LLP; and a second £50 million debt line from international bank, Citibank and private equity fund manager Pollen Street Capital.

/Alternative finance

Q2 to acquire Cloud Lending Solutions

Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of secure, experience-driven digital banking solutions for community-focused financial institutions, has announced an agreement to acquire San Mateo, California-based Cloud Lending, Inc., a privately-held SaaS company that provides an integrated end-to-end lending and leasing platform.

/Alternative finance

Tungsten Network ships digital purchase order delivery and acknowledgement service

Tungsten Network, the global business transaction network, has launched a new purchase order (PO) delivery and acknowledgement service for its 300,000 global customers.

/Alternative finance

OnDeck reports strong second quarter

OnDeck (NYSE:ONDK), the leader in online lending for small business, today announced second quarter 2018 Net income of $5.8 million, Adjusted Net income of $10.0 million and Gross revenue of $95.6 million.

Zopa raises £44 million to support digital bank launch

/Alternative finance

Zopa raises £44 million to support digital bank launch

Peer-to-peer lender Zopa has scooped £44 million in funding as it lays the groundwork for the launch of its new digital challenger bank.

Revolut crowdfunders are realising a handsome return on their investments

/Alternative finance

Revolut crowdfunders are realising a handsome return on their investments

Investors who backed money transfer startup Revolut during a crowdfunding round two years ago have now realised returns of 19x on their original investments, according to data from Crowdcube.

/Alternative finance

Roostify appoints Eric Amblard CFO

Roostify, a leading digital lending platform provider, announced today that Eric Amblard has joined the company as Chief Financial Officer. Amblard comes to Roostify from EverString Technologies, where he also served as CFO.

Barclays Bank takes stake in MarketInvoice

/Alternative finance

Barclays Bank takes stake in MarketInvoice

Barclays Bank is to take a minority equity stake in online invoice financing platform MarketInvoice and roll out the service to its large SME client base.

/Alternative finance

Judo Capital raises A$140m

Judo Capital has closed on 140 million Australian dollars ($103.9 million) in an initial equity raise. Judo, of Melbourne, is a specialist lender to the Australian SME sector. First Avenue Partners acted as placement agent for Judo.

/Alternative finance

IGF appoints Neil Kindness as asset based lending director

Independent Growth Finance (IGF), a leading independent commercial finance provider, today announces the appointment of Neil Kindness as asset based lending (ABL) Director.

Microsoft and Nationwide invest $12m in online lender BlueVine

/Alternative finance

Microsoft and Nationwide invest $12m in online lender BlueVine

Online business lender BlueVine has topped up its $60 million Series E funding round with an additional $12 million from the venture arms of Microsoft and FS firm Nationwide.

FCA to tighten rules for loan-based crowdfunding platforms

/Alternative finance

FCA to tighten rules for loan-based crowdfunding platforms

The Financial Conduct Authority is updating its loan-based crowdfunding rules in the face of growing complexity and poor practices since it first authorised trading in the market 18 months ago.

/Alternative finance

CloudTrade closes first invesment round, raising £2 million

CloudTrade, the leading provider of cloud-based e-invoicing, e-order and complex data capture services, has today announced the completion of its first investment round, securing a £2million injection from Calculus Capital.

/Alternative finance

Previse joins Government G-Cloud 10 framework

Previse, the global instant supplier payments decisions company, has today announced it has been accepted onto the UK Government’s G-Cloud 10 framework.

Bitcoin cheerleader Novogratz backs crypto lending startup BlockFi

/Alternative finance

Bitcoin cheerleader Novogratz backs crypto lending startup BlockFi

BlockFi, a startup that lets people and companies put down Bitcoin and Ether as collateral for US dollar loans, has raised $52.5 million from Galaxy Digital Ventures, a cryptocurrency and blockchain technology investment firm.

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