Alternative finance

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SoFi names Twitter COO Noto CEO

/Alternative finance

SoFi names Twitter COO Noto CEO

Online lender SoFi has named Twitter COO Anthony Noto chief executive officer, filling a position vacated by co-founder Mike Cagney, who left last year amidst allegations of sexual harassment at the firm.

/Alternative finance

Falcon Group names Steve Box head, business development, UK and Europe

Leading specialist financier Falcon Group has announced Steve Box, former Bibby Financial Services’ CEO, and HSBC Veteran, as Head of Business Development for the UK and Europe. Steve Box has been appointed as Head of Business Development for the UK and Europe. Box will be responsible for spearheading Falcon’s expansion in the UK and European markets.

Europe begins Open Banking era in subdued style

/Alternative finance

Europe begins Open Banking era in subdued style

The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers.

/Alternative finance

LendingPoint buys LoanHero

LendingPoint, the company working to revolutionize access to consumer credit, today announced that it has acquired LoanHero, a leading fintech platform for point of sale finance.

/Alternative finance

Apruve and MSTS join forces for B2B credit offering

MSTS, a global B2B payment and credit solutions provider, and Apruve, the premiere B2B credit network, today announced a joint partnership to provide manufacturers, wholesalers and distributors an alternative payment and credit solution that competes directly with credit cards.

/Alternative finance

YieldStreet closes $12.8m Series A round; scores $100m in revolving credit facility

YieldStreet, the alternative investment platform working to change the way wealth is created, today announced that it has closed a $113 million financing round.

/Alternative finance

Property crowdfunding platform The House Crowd receives FCA authorisation

The House Crowd, which is the world’s first property crowdfunding platform, has received full authorization from the Financial Conduct Authority (FCA) as a “P2P Firm.”

/Alternative finance

Previse secures £800K Scottish Enterprise R&D funding to tackle late payments

B2B payment decisions start-up Previse, has secured a £800k R&D grant from Scottish Enterprise, to set up an new development centre in Glasgow, creating 37 new data science jobs.

UK alternative finance market is now worth £4.6 billion

/Alternative finance

UK alternative finance market is now worth £4.6 billion

The UK online alternative finance market grew 43% in 2016 to reach £4.6 billion, buoyed by increased institutional investment and a sustained pick up in innovative business lending models.

/Alternative finance

DueDil and Credit Data Research join forces to boost access to finance for SMEs

DueDil, the company information platform, announces that it is joining forces with Credit Data Research, market leader in credit behavioural analysis, to boost access to business finance.

/Alternative finance

Amazon Business now claims 90,000 customers in UK

Amazon today announced that Amazon Business has launched a new set of features designed to better serve the procurement needs of businesses of all sizes.

/Alternative finance

BNP Paribas collaborates with Tungsten on supply chain financing

Tungsten Network will collaborate with BNP Paribas to offer e-invoicing linked Receivables Purchase and e-invoicing linked Supply Chain Finance (e-SCF) to large corporates in the USA and Canada.

/Alternative finance

NZ regulator issues P2P, crowdfunding stats

The Financial Markets Authority (FMA) today published its first statistical reporton peer-to-peer lending and crowdfunding in New Zealand.

Cleveland Fed report comparing P2P lending to subprime mortgages removed for revision

/Alternative finance

Cleveland Fed report comparing P2P lending to subprime mortgages removed for revision

A Federal Reserve Bank of Cleveland report which compared the peer-to-peer lending industry to the subprime mortgage market has been temporarily taken offline after questions were raised about the underlying data set.

Fed researchers compare P2P lending to subprime mortgages

/Alternative finance

Fed researchers compare P2P lending to subprime mortgages

The peer-to-peer lending industry has the potential to destabilise consumer balance sheets, with loan performances bearing a striking resemblance to the subprime mortgage market before the 2007 crisis, warns a new paper from the Cleveland Federal Reserve.

/Alternative finance

Scalable Capital hits €500 million in assets

Just 22 months after its launch in Germany and 16 months after the launch in the UK, digital wealth manager Scalable Capital manages over 500 million euros of investments for more than 15,000 clients.

/Alternative finance

ArchOver surpasses £50 million lending milestone

ArchOver, the peer-to-peer (P2P) business lending platform, has facilitated over £50 million of lending with no losses or late payments.

Britain’s small businesses bank on alternative finance options

/Alternative finance

Britain’s small businesses bank on alternative finance options

With more than half of small business owners in the UK concerned about their ability to get bank loans, many are turning to alternatives such as crowdfunding and P2P lending, according to a WorldPay survey.

/Alternative finance

Credit Sesame scores $42 million in funding

Credit Sesame, a fast-growing, personalized credit service and financial wellness company, announced today it has raised over $42 million in equity and venture debt.

/Alternative finance

HSBC introduces matched electronic purchase order financing

HSBC, the world’s leading trade bank, has introduced a Matched electronic Purchase Order (Me-PO) financing solution to dramatically improve the release of working capital.

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