Funding Circle hits £2bn milestone
Funding Circle became the second UK peer-to-peer lender to hit the £2bn milestone yesterday, as research showed that the sector had a strong start to the year. Funding Circle’s UK division has now lent £2bn to small businesses, the platform said on its Twitter account on Monday. The platform, which also has operations in the US, Germany and the Netherlands, has experienced stratospheric growth over the past year, lending out £820m in the UK in 2016. Globally, its investors lent more than £1.1bn in 2016, with approximately £400m lent in the fourth quarter alone, a record amount for any small-and medium-sized enterprise (SME) direct lending platform. The platform announced in […]
This FinTech CEO is making money instantly available anywhere in the World
The consumer financial services industry currently boasts a $33.5 billion market cap globally, supplying consumers with various loans and lines of credit. For years, the most common and accurate way of indicating whether consumers qualify for an approved loan or credit line was by analyzing general online data and traditional credit intelligence metrics. Today, with real-time consumer data becoming easily accessible and more emphasis is placed on creating cutting edge banking solutions for a mobile generation, financial technology companies have risen and claimed a reputation for actively disrupting the traditional banking infrastructure. Consequently, the existing challenge for FinTech startups and their big bank counterparts is whether to continue operating independently, […]
Australian FinTech launches International FinTech platform
The team behind the highly successful AustralianFinTech.com.au, this week launch their International platform, ukfintech.internationalfintech.com, aimed at connecting the FinTech industry on a global scale. Founder and CEO, Cameron Dart, says International FinTech has been born on the back of the highly successful Australian FinTech platform and growing demand from the global community to have a dedicated online presence for their sector. “International FinTech mirrors the Australian FinTech platform, including a dedicated industry newsfeed and a comprehensive directory of FinTech companies globally. “The site also aims to educate users of new financial technologies such as peer to peer lending and cryptocurrency, all presented in simple terms with no financial jargon” says […]
A Complete Beginners Guide To FinTech In 2017
You may have heard the relatively new term “FinTech” bandied about, but what actually is it? And why is it important for all entrepreneurs to know about and understand? FinTech stands for Financial Technologies, and in its broadest definition, that’s exactly what it is: technologies used and applied in the financial services sector, chiefly used by financial institutions themselves on the back end of their businesses. But more and more, FinTech is coming to represent technologies that are disrupting traditional financial services, including mobile payments, money transfers, loans, fundraising, and asset management. Don’t assume that FinTech is simply a fad or buzzword: Accenture recently released a report which found that […]
Fintech MarketInvoice aims for £900 million lending in 2017, launches Pro product
Fintech company MarketInvoice is planning to more than double the size of its business in 2017 as it launches new products in a bid to become the destination for small business short-term finance. MarketInvoice announced on Thursday that it hopes to reach £2 billion in total lending by the end of 2017, which would represent £900 million in lending in 2017 and 133% growth on its 2016 volumes. Founder and CEO Anil Stocker told Business Insider: “It took us five years to do our first billion; we’re trying to do our second in a year. It’s very exciting.” Peer-to-peer platform MarketInvoice started out in 2010 as a platform to let […]
Lending Works becomes first major P2P platform to launch new ISA
Lending Works, the first peer-to-peer lending platform to have insurance protecting lenders against certain borrower default risks, today becomes the first major UK platform to launch an Individual Savings Account (ISA). The new peer-to-peer lending ISA – which is better known as the Innovative Finance ISA or IFISA – is a new category of ISA set up exclusively for P2P lending. The IFISA can only be offered by platforms who have attained both full authorisation from the Financial Conduct Authority (FCA), and subsequently ISA Manager approval from HMRC. Lending Works received confirmation of both permissions in late 2016, and the company has now become the first member of the industry-body […]
11 Fintech Companies in UK’s Trade Delegation to Australia & NZ
The Department for International Trade (DIT), the UK’s sole government department that negotiates to strike or extend trade agreements between the UK and non-EU states will send a Fintech delegation of 11 UK companies to Australasia. Aimed at promoting Fintech opportunities in the Fintech spaces in Australia and New Zealand, the trade mission will see a delegation of “eleven successful UK fintech companies” visit the countries in March. The 11 UK companies that form the delegation include credit rating specialist Aire; Fintech data analytics firm Clarus; asset allocation consultant ClearMacro; compliance solutions firm FundApps; investor relations firm Ingage; financial lenders Iwoca and Neyber; blockchain-based data platform ObjectTech; identity verification platform […]
The first property-backed Innovative Finance ISA has arrived
LandlordInvest, having recently been approved as an ISA manger by the Board of HM Revenue & Customs, becomes the first peer-to-peer lending platform to offer a property-backed Innovative Finance ISA (“IFISA”). LandlordInvest’s property-backed IFISA lets savers invest up to £15,240 in the current tax year (rising to £20,000 in the next tax year) in peer-to-peer loans secured by residential property, and with the ability to earn tax-free returns between 5-12% per annum. It is the first property-backed IFISA ever made available to UK savers, and it is expected to be a valuable addition to any well-diversified portfolio, especially in the current low rate environment. Filip Karadaghi, LandlordInvest’s Chief Executive said: “This […]
