UK based P2P lender Proplend claims it almost reached profitability in 2020 despite COVID-19
UK-based P2P lender Proplend almost managed to reach profitability this year despite COVID-19 related challenges.
Sourced Capital hits £10m milestone
Warrington-based peer-to-peer lending company Sourced Capital has raised more than £10m in P2P finance loans during 2020.
LendInvest Update: Raises LTVs to 80% and launches funding for student lets/first-time landlords
LendInvest, a UK marketplace for property financing, has broadening its lending criteria to include first-time landlords and student lets.
London’s Propio, which offers “Simple, Affordable, Tax Efficient Ways” to invest in property, to launch P2P lending platform
Propio, a platform that aims to provide a “simple, affordable, and tax-efficient way” to invest in property, has secured new capital.
Passion Capital has backed Fronted, the startup that wants to offer loans to cover rent deposits
Fronted, the new London-based startup aiming to make life easier for renters, has picked up seed investment from Passion Capital.
Glasgow in sights of fintech aiming to disrupt lending market
A fintech start-up founded by a Glaswegian entrepreneur is aiming to disrupt the lending market with a “totally new and fair approach” – and set to roll out low-cost loans for public sector workers in locations including Glasgow. Salad Money, founded by Debt Hacker campaigner Alan Campbell, is looking to “smash the monopoly” of credit reference agencies and tap into open banking and artificial intelligence. The company, which says it is the first open banking powered lender, said it is opening up affordable credit to 85 per cent of applicants who were previously excluded from credit or paying sky-high annual rates. Salad Money said its “revolutionary” new method of credit […]
Landbay says October was record month
Fast-growing Fintech Landbay says October was a great month for the real estate peer to peer lending platform. Without providing any details, Landbay tweeted out the news. Earlier this year, Landbay reported that a “leading financial institution” had committed to funding £1 billion in buy to let mortgages originated on the site. This may have something to do with its growth. Landbay offers investors the opportunity to invest in loans to buy-to-let landlords. All loans are secured by first‐ranking mortgages over tenanted residential properties across England and Wales. The P2P lender currently promotes up to a 3.45% return for investors. In a historically low interest rate environment, these returns are […]
Koyo FinTech raises $4.9M to assist underbanked UK borrowers
FinTech startup Koyo, which uses Open Banking to offer loans to underbanked UK borrowers, announced that it has raised $4.9 million in funding. The round, a mixture of debt and equity funding, was led by Forward Partners, with participation from Seedcamp, Christian Faes (founder and CEO of LendInvest) and Charles Delingpole (founder and CEO of ComplyAdvantage). Founded last year by Thomas Olszewski, the FinTech firm aims to secure loans for people with a limited credit history through the use of Open Banking data. “If someone is new to the country, or otherwise has a thin credit file, it can be difficult for that person to access credit,” said Olszewski. “For […]
