Indonesia study: P2P lenders create thousands of jobs, reduce poverty
Peer-to-peer (P2P) lending platforms have provided jobs for more than 362,000 Indonesians and reduced the poverty rate by 0.7 per cent – equal to 177,000 individuals – as they provide access to financing in cities and remote areas alike, a study said last week. The study was conducted by local think tank Institute for Development […]
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 […]
P2P lender KoinWorks bags $1.4m from Japan’s Saison Capital
Indonesian peer-to-peer lending platform KoinWorks has received around US$1.4 million in additional funding from Saison Capital, the venture arm of Japanese financial services firm Credit Saison, as part of its series B round. The new funds bring KoinWorks’ total series B and B2 raise to about US$13.6 million. It raised US$12.2 million in June in […]
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 […]
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 […]
Indonesia’s fintech lending boom exploits shortfall in bank loans
Fintech firms, offering loans of as little as a few hundred dollars, are seeing a spike in lending in Indonesia where tens of millions of people have little or no access to bank credit – helping alleviate a financing shortfall estimated at more than $73 billion. The emergence of these peer-to-peer (P2P) lending platforms has […]
The 10 Biggest Fintech Companies in America
Financial technology companies in the U.S. raised $3.5 billion in the first half of 2017, according to KPMG, as investors rushed to place bets in buzzy sectors like insurance and digital currencies. The U.S. is now home to 13 fintech unicorns who have scored valuations of at least $1 billion. This year alone, Robinhood (free […]
Fintech the future
There are an estimated 600 fintech operators in Australia. The industry is burgeoning and continues to attract new players, so receiving less than double-digit complaints in 16 months isn’t a bad track record. “In addition to those 600 there’s probably another 20 to 30 overseas-based fintech companies that are operating here such as PayPal, Stripe […]
