Robo-advice platform completes £2m funding round
MortgageGym, which according to its creators is the world’s only regulated mortgage robo-adviser, has completed a £2m seed funding round ahead of its launch. The platform has raised over £1.3m in cash and technology development finance through deals with fintech investors Gaby Salem of Wharton Asset Management, China Pacific Capital and Trifecta Capital. MortgageGym expects to announce its strategic distribution partnerships within the next three months, and its official launch is set for the summer. The FCA-authorised service will allow homebuyers to complete their mortgage application online in 15 minutes through a free, hybrid advice website offering mortgage eligibility matching within 60 seconds, regulated robo-advice and access to live advisers. […]
MarketInvoice secures £45m from Banco BNI Europa
UK-based MarketInvoice has signed an agreement with Banco BNI Europa (BNI), which will now provide £45 million annually to fund working capital for SMEs on the platform. MarketInvoice is now the world’s largest peer-to-peer online invoice finance marketplace, having funded over 70,000 invoices worth more than £1.2 billion since its launch in 2011. Today, the UK business has signed an agreement with Banco BNI Europa (BNI), which will now provide £45 million in funding annually on the marketplace to fund working capital for MarketInvoice customers. BNI trialled an investment last year of £28.3 million, which went into funding SMEs on the platform seeking invoice finance. After the success of that […]
Fintech startup Quantexa raises $3.3Mn to support international expansion
Quantexa Limited, a FinTech startup, has managed to rake in $3.3 million in a Series A round led by Albion Ventures and HSBC. The company, based in London, uses big data analytics to go head to head against complex financial crime. Its Entity Resolution and Network Analytics software makes use of artificial intelligence and machine learning to gather information from disparate data sets and create insights. Its applications include the following features: – Protection against financial losses and reputational damage with data analytics and entity and network based techniques. – Creation of an integrated, networked view of customers across disparate data sources, in order to support all areas of your […]
Funding Circle close further funding round, valued at $1 billion
Investor interest in the peer-to-peer lending industry shows no sign of slowing; British site Funding Circle have just closed another round of funding, taking their total raise to $380 million. Funding Circle recently closed another round of venture capital funding to the tune of $100 million, valuing the company at $1 billion. The new round was led by DST Global, BlackRock, and Temasek, a fund backed by the Singaporean government. Since its conception in 2010, Funding Circle have become ones of the world’s leading marketplaces exclusively focused on small businesses. The platform has raised approximately £300 million in equity capital, lending more than £2.5 billion to 25,000 businesses in the […]
Dublin startup Touchtech Payments makes plans for international expansion
One of the first financial technology companies in Europe to develop a solution which uses fingerprinting and retinal scanning to authenticate online payments, Dublin startup Touchtech Payments is making plans for international expansion. Operating in a market where an EU directive will require all banks to improve security by introducing a two-factor authentication by the end of 2018, Touchtech co-founder and head of products, Niall Hogan sees an opportunity to make the most of the early mover advantage. Up until now, the market has been dominated by major players offering payment authentication solutions using passwords and text messages. “There was very little innovation in this space until the fintech revolution […]
The Benzinga Global Fintech Awards – entries closing soon
The Benzinga Global Fintech Awards May 11, 2017 in New York, is the premier event in Fintech, celebrating financial innovation from around the world. The Benzinga Awards is a competition to showcase the companies with the most impressive technology, who are paving the future in financial services and capital markets! Applications are still open, so apply now before the March 17 deadline. At the event, you’ll get a first look at groundbreaking technology, innovative platforms, and the chance to network freely with top industry professionals. Over 550 FinTech CEOs, C-suite executives of financial institutions, VCs, press, and others attended the 2016 Benzinga Fintech Awards. 45 exclusive exhibitor spots on the show floor […]
London FinTech startup Oinky raises $1m
Tech City News can exclusively reveal that Oinky, a London-based savings app, has raised approximately $1m (£765,000) in Seed funding from a group of high net worth individuals and entrepreneurs from the finance and tech sectors. Originally backed by Seedcamp, the startup, which will use the money to expand its team (it recently hired Azimo’s former head of growth Francisco Lema), launch its product and build additional product features, has also received regulatory approval from the Financial Conduct Authority (FCA). Founded in 2015, Oinky’s mission is simple yet ambitious. Co-founders Ivan Soto-Wright and Conrad Holmboe, who met at Redington, decided to set up the company in an attempt to address […]
App-only bank Monzo’s crowdfunding is almost three times oversubscribed after less than 24 hours
App-only startup bank Monzo has attracted enough initial interest in its £2.5 million ($US3.1 million) crowdfunding campaign to fill it close to three times over, after less than 24 hours of pre-registration. Monzo opened pre-registrations for its crowdfunding at 10 a.m. GMT (5.00 a.m ET) on Tuesday, allowing users of its app to register interest in investing and pledge an amount to invest. Pledges hit Monzo’s £2.5 million target within 4 hours and, just after 8 a.m. GMT (3.00 a.m. ET) on Wednesday, the startup bank has £6.78 million pledged. CEO and cofounder Tom Blomfield says in an emailed statement: “The response to our crowdfunding campaign has been mind-blowing. Our […]
