Alternative finance

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/Alternative finance

Digital remittance helps Kerala flood victims

Southeast Asia’s leading digital money transfer company, InstaReM, said that it has facilitated zero-fees international money transfers of nearly US$ 2,000,000 to the southern Indian state of Kerala, which experienced devastating floods last month.

/Alternative finance

Prodigy Finance raises $1bn in debt financing

Prodigy Finance, the pioneer in cross-border finance, announces that it has raised US$1 billion in the last twelve months in available debt financing (“financing”).

/Alternative finance

Ant Financial launches new fintech brand

Ant Financial Services Group (“Ant Financial” or “the Company”) today announced that the Company would open up a full suite of technology products and services under a new brand, Ant Financial Technology, to support the growth of financial institutions by improving user experience and lowering costs.

/Alternative finance

P2P investment aggregator Orca launches equity crowdfunding campaign on Seedrs

Orca announces that it is raising £500,000 on the crowdfunding platform, Seedrs. The funds raised will contribute to the business’s ambitious growth and expansion plans as it aims to realise its goal of becoming the hub for alternative lending.

/Alternative finance

Belgian P2P platform Mozzeno raises EUR1 million

mozzeno.com has announced that it has raised €1,000,000 from new and former shareholders.

/Alternative finance

PayPal releases Funds Now for small businesses

Small businesses are the heart and engine of our economy. They are drivers of innovation, competition, diversity, economic opportunity, job creation and the overall health of our communities.

/Alternative finance

Banking Circle launches receivables factoring

Banking Circle, the global scale financial utility, has launched Banking Circle Receivables Factoring giving Payment Services Providers (PSPs) and FinTechs another add value for their client offering.

/Alternative finance

Paysafe introduces express funding for SMEs

Paysafe, a leading global payments provider, today announced the launch of Paysafe Accelerated Funding, a comprehensive suite of fast and flexible same or next day settlement options for small and medium-sized businesses (SMBs) based in the U.S.

/Alternative finance

Icici introduces 'GST Business Loans'

ICICI Bank Ltd. announced the launch of a new working capital facility that enables MSMEs (Micro, Small and Medium Enterprise) to get an overdraft (OD) based on the turnover reported in their Good and Services Tax (GST) returns.

/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.

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