#LendTech / Starling renews search for non-bank European lender

In an interview with Sifted this week, Boden said the UK challenger was actively searching “for lending businesses to buy”. This includes peer-to-peer (P2P) lenders, as well as small business lenders. Starling’s deposit base passed £3 billion back in July 2020, up from £600 million in July 2019… Last year, Starling deployed millions into consumerContinue reading “#LendTech / Starling renews search for non-bank European lender”

#FinancialInclusion / The Cambridge Centre for Alternative Finance Launches the Cambridge Alternative Finance Collaboration Network

The CCAF is the leading Fintech research organization in the world… a “network of regionally embedded resources and capabilities engaged in the creation and exchange of knowledge needed by policymakers, regulators & industry to navigate the digital transformation of the global financial system.” [Director and Co-Founder of the CCAF:] “We are now entering a newContinue reading “#FinancialInclusion / The Cambridge Centre for Alternative Finance Launches the Cambridge Alternative Finance Collaboration Network”

#LendTech #AltFi / It’s beginning to look a lot like banking …

… FinTech companies are known for their success in payments but the first one I ever met, Zopa, focused on lending… Their platform was immune to regulations, however, because it connected people with money to people who needed money instead of loaning money themselves. We know this as peer-to-peer (P2P) lending now but, 15 yearsContinue reading “#LendTech #AltFi / It’s beginning to look a lot like banking …”

#LendTech #AltFi / Credit marketplace Auxmoney picks up €150m in new funding round

Peer-to-peer loan marketplace Auxmoney has raised €150 million in a new funding round, the largest for a German fintech so far in 2020. Uncovered by Handelsblatt, the equity fundraising is led by US-based financial investor Centerbridge. Existing investor Foundation Capital is also involved. Centerbridge now owns the majority of Auxmoney equity. https://www.fintechfutures.com/2020/09/credit-marketplace-auxmoney-picks-up-e150m-in-new-funding-round/

#Crowdfunding #AltFi / The Number of FINRA Regulated Funding Portals Increases as Investment Crowdfunding Grows

While Reg CF became actionable in May of 2016… the number of funding portals started with just a handful but has since blossomed into dozens of platforms. In fact, as of today, FINRA indicates there are 57 approved funding portals. Crowdfund Capital Advisors (CCA) reported that July was the highest month of investor commitments everContinue reading “#Crowdfunding #AltFi / The Number of FINRA Regulated Funding Portals Increases as Investment Crowdfunding Grows”

#AlternativeLending / Nucleus Commercial Finance automates lending up to £250k, integrates with Open Banking

Nucleus new system uses machine learning to make decisions in under a minute, significantly reducing the time spent reviewing finance applications. *** It has also fully integrated with Open Banking to improve the speed and accuracy of decision making for businesses, it says. New features include automated ID verification and automated AML/KYC, which significantly reduceContinue reading “#AlternativeLending / Nucleus Commercial Finance automates lending up to £250k, integrates with Open Banking”

#POSFinance #BNPL / Alt-Credit Love Is In The Air

The alternative or alt-credit space – known variously as point-of-sale (POS) credit, “buy now, pay later” (BNLP) or installment payments – remains one of the hottest business stories of the past few years, as players stream in and consumers fall in love with the concept. PYMNTS… latest Provider Ranking of Alternative Credit Apps… No. 1Continue reading “#POSFinance #BNPL / Alt-Credit Love Is In The Air”

#AltFi / Landbay secures mortgage funding from unnamed UK bank

Buy-to-let mortgage lending platform Landbay. announced a funding partnership with an unnamed UK bank. the move would help to further strengthen the platform’s institutional funding and allow it to launch new lending products. Landbay last week upped its maximum loan size from £1m to £1.5m, increased its maximum loan to value, and slashed the ratesContinue reading “#AltFi / Landbay secures mortgage funding from unnamed UK bank”