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 […]
Vista to acquire D+H for fintech merger with Misys
The US buyout firm wants to create a ‘global fintech powerhouse’ by merging an existing portfolio company with its new acquisition Private equity firm Vista Equity Partners has struck a deal to acquire D+H, a Canadian financial technology provider, with an eye to merging it with UK-based Misys to create a financial software company with $2.2 billion in revenues. US-based Vista said in a statement today that it will pay C$25.50 per share in cash for D+H, including the assumption of debt, in a deal that values the Toronto-listed firm at 4.8 billion Canadian dollars. The buyout firm acquired software provider Misys in 2012. The combined company will be privately […]
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 […]
Ireland and Germany will battle for fintech crown post-Brexit: VC founder
Ireland and Germany are poised to step up to fill a void as leader of Europe’s fintech scene once the U.K. leaves the European Union (EU), according to the co-founder of a global venture capital firm backed by The Boston Consulting Group. While it’s difficult to tell exactly what it will be, Brexit, which will mean the U.K. will lose its easy access to Europe’s financial industry, is certainly going to have an impact on the fintech industry, says Raj Ganguly, co-founder and partner at B Capital Group. “It seems like London is going in the direction of a hard Brexit. And with the the passporting rules potentially going away, […]
P2P Bitcoin lender Bitbond raises $1.2 million in new funding
Peer-to-peer bitcoin loan market Bitbond has raised $1.2m in new funding. The web platform, which connects lenders and borrowers to facilitate the distribution of loans denominated in bitcoin, received the new funding largely from a group of angel investors, some of whom already have stakes in the startup. The round was led by Şekip Can Gökalp, founder of Mobilike, a Turkey-based mobile ad network formed in 2009, and that was acquired last year. Other investors include Janis Zech and Andreas Bodczek, who founded ad tech startup Fyber, and Alexander Graubner-Müller, co-founder and CEO of Germany-based online lender Kreditech. According to Bitbond representative Chris Grundy, most of the funding will be […]
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, […]
