SME

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/wholesale

Sandstone Technology and Brilliance to offer in-built pricing and profitability to the SME Market

Sandstone Technology bring risk-based pricing into their arsenal for SME lending.

/regulation

HSBC chided by CMA over breaching SME business lending rules

In 2002, HSBC Bank plc, among others, agreed that they would no longer (except for in specific circumstances) make a small and medium-sized enterprise (SME) customer open or maintain a business current account in order to get a business loan.

/wholesale

FintechOS cuts SME account opening to sub 15 minutes

FintechOS, a technology partner providing high-productivity fintech infrastructure solutions for companies offering financial services, today announced the launch of its accelerators for SME mobile lending and onboarding.

/payments

WorldFirst and Ritmo create £100 million growth package for e-commerce businesses

Global fintech and international payment service provider, WorldFirst, has joined forces with RITMO to launch a £100 million growth package for fast-growing small and medium-sized e-commerce businesses in the UK.

/people

Allica Bank promotes Ravneet Shah to CTO

Allica Bank – the fintech challenger bank that seeks to empower Britain’s small and medium-sized businesses – has today announced the promotion of Ravneet Shah as Chief Technical Officer (CTO).

Lloyds Bank invests £5 million in working capital platform Satago

/startups

Lloyds Bank invests £5 million in working capital platform Satago

Lloyds Bank has invested £5 million for a 20% stake in invoice financing startup Satago and will roll out the platform for its Single Invoice Finance and whole of book Invoice Factoring customers.

/startups

Qred expands to Norway

Sweden’s fastest growing fintech company Qred, continues to expand its business and is now setting up shop in Norway.

/wholesale

Sandstone Technology teams with Codat to enter SME market

Building on their deep domain expertise in consumer lending, Sandstone Technology and Codat expand to cater for SME customers, with a one platform approach.

/security

DBS to provide free cybersecurity training to Singapore's SMEs

DBS announced today that it will be availing a complimentary cybersecurity training programme to help protect the 280,000-strong SME community in Singapore[1] from the growing threat of cybercrime.

/startups

London VC firm SuperSeed launches £50m fund

SuperSeed, a venture capital firm investing in the future of business automation, today announces it has completed the first closing of its new fund at £31m, targeting a final close of £50m. The fund will invest between £500k and £1.5m into 30-35 UK based startups, and those looking to use the UK as a springboard to the rest of the world.

Will banks use digital security as a post-pandemic differentiator?

/SME

Will banks use digital security as a post-pandemic differentiator?

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French fintech for SMEs Qonto achieves €4.4 billion valuation

/wholesale

French fintech for SMEs Qonto achieves €4.4 billion valuation

Qonto, the French scaleup offering a business account to European SMEs, has achieved a €4.4 billion valuation on a €486 million Series D funding round

34% of UK finance businesses now making crypto payments - Mercuryo

/crypto

34% of UK finance businesses now making crypto payments - Mercuryo

According to new research by global payment network, Mercuryo, over one third of UK finance businesses are now using blockchain to facilitate payments, as demand for innovation soars.

/wholesale

British Business Bank injects further £300m to Simply’s funding line

Today, the British Business Bank announces an increase to business lender Simply’s existing ENABLE Funding facility. In total, the facility will provide £300m of funding to SMEs across the UK. This is now the largest facility under the Bank’s ENABLE Funding programme, which aims to improve the supply of asset finance to the UK smaller business community.

/devops

Finverity and Abu Dhabi Global Market launch real time credit data API for SMEs and corporates

Finverity, the award winning mid-market supply chain finance (SCF) platform focused on emerging markets, is pleased to announce the launch of its real time monitoring Credit Data API. UAE banks and investors will be the first to benefit from the stand alone solution due to the UAE’s leading position as a key trade finance hub for Finverity. In parallel, the API functionality is now also available to funders globally on the ADGM’s Digital Lab and Finverity’s platform. The launch marks the successful completion of Finverity’s proof-of-concept commissioned by ADGM (Abu Dhabi Global Market) as a result of winning FinTech Abu Dhabi’s Innovation Challenge 2020.

Funding Circle moves into embedded finance

/wholesale

Funding Circle moves into embedded finance

Funding Circle has moved into the embedded finance market, providing third party firms with a single API to offer loans of up to £500,000 to small businesses within their own website.

/wholesale

Folk2Folk receives £7 million from British Business Investments

British Business Investments, a wholly-owned commercial subsidiary within the British Business Bank group, today announces a £7m commitment to FOLK2FOLK, a specialist marketplace lender for rural and regional smaller businesses.

/startups

Indian fintech startup Recordent raises $400K angel funding

Recordent, a fintech start-up in the non-banking payment bureau sector, announced that it has raised $400,000 in angel funding from the Family Office of Kantamaneni & IIM Calcutta Innovation Park and other angel investors from India and the US.

/startups

Hong Kong's Qupital raises $150 million

Asia's leading financial technology platform Qupital today announced it has raised US$150 million in a combination of Series B equity funding and a receivables-backed securitization facility.

Fidelity and Visa back emerging markets lender Jumo

/startups

Fidelity and Visa back emerging markets lender Jumo

Jumo, a South African and London-based fintech startup that helps the underbanked get access to financial services such as loans and savings products, has raised $120 million with backing from Fidelity and Visa.

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