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 […]
Crowdfunding platform Kickstarter hits $4.5bn milestone
Kickstarter has announced it has registered over $4.5 billion that has been pledged to different projects on its platform. The result is very positive for creators and individuals that are trying to gather funds and move forward with their projects. The information was recently released by the financial news site LearnBonds.com. Crowdfunding websites have been expanding all over the world during the last twenty years. Kickstarter was launched in 2009 and it launched over 460,000 projects. This shows that each project received around $10,000 in funding on average. This data represents an increase of over 16% since October 2018 and it also shows that just 37.3% of the projects are […]
Stockholm-based fintech startup Dreams raises €9 million to help millenials fulfill their financial ‘dreams’
Stockholm-based fintech startup Dreams has raised €9 million in a late seed round. The investor pool includes AXA Investment Managers (AXA IM), the Norwegian insurance company Storebrand, Finnish Ålandsbanken and a group of private investors. Dreams helps its users fulfill their financial goals through a user-friendly mobile app using behavioural science. Launched in 2016, Dreams’ key commercial offering is a digital product platform for financial services, with a focus on financial well-being. The platform is particularly focused on serving millennials. Dreams helps its users to fulfill their financial ‘dreams’ through its user-friendly mobile app. What differentiates Dreams from other fintech apps is its deep application of behavioural science in its methodology and […]
ID Finance secures £1.5m within minutes on Crowdcube
ID Finance, the fintech company operating in Europe and Latin America, has raised over £1.5m crowdfunding target within minutes of its campaign going live on Crowdcube amid strong demand from investors. The data science, credit scoring and digital finance company has a crowdfunding target of £2m and is inviting interested parties to invest at https://www.crowdcube.com/idfinance. ID Finance’s proprietary risk management system uses machine learning and advanced data science techniques to provide competitive financial services to the underbanked and help customers build their credit profile. Anyone with a smartphone in Spain, Brazil and Mexico can apply online for a loan via its Moneyman and Plazo brands, regardless of their credit history. […]
Softbank pumps £510m into finance firm Greensill that could kill off payday lenders
Japanese conglomerate Softbank is set to inject another £510million into British online finance firm Greensill as part of plan to launch a new service that aims to wipe out controversial payday loans. City sources said Greensill, set up by former Morgan Stanley banker Lex Greensill, is in advanced talks to buy FreeUp, a technology company that should enable the firm to offer ordinary workers early payment of their wages. SoftBank’s Vision Fund, led by maverick entrepreneur Masayoshi Son, is pouring in more than half a billion pounds to support the expansion strategy. Sources said the deals could be announced as soon as this week. To read more, please click on […]
Two more robo-advisors to enter Malaysia in 2020
Malaysia is expected to house two more robo-advisors in the country’s emerging financial technology (fintech) market next year, after the Australian-based firm Raiz Invest Ltd and Thai’s Robowealth Mutual Fund Brokerage Securities obtained the Securities Commission Malaysia’s (SC) approval for operation. SC executive chairman Datuk Syed Zaid Syed Jaffar Albar (picture) said the companies which were granted approval-in-principle, would join the three fully operational robo- advisors in the country. The approval, Syed Zaid said, would further facilitate the growth of local fintech landscape. “Today, Malaysia has three licensed and fully operational robo-advisors — namely StashAway, MyTHEO and Wahed Inc. We continue to see strong interest in this space and will […]
US FinTech West Creek nabs $150 mn from Pollen Street Capital
West Creek, a Virginia-based FinTech firm has raised $150 million from Pollen Street Capital, bringing the company’s total raised capital to $250 million. The company claims a revenue growth of over 4,400% since 2015 and expects to surpass $200 million by the end of 2019. West Creek plans to expand its point-of-sale (PoS) financing offering with the new funds, according to a statement Rajesh Rao, chief financial officer, and chief risk officer at West Creek stated that the company plans to deliver an improved financing experience to its retail partners and customers through a combination of customer support, technology, and data-science-driven credit decisions. Founded in 2014, West Creek helps consumers make […]
