Qwil’s Johnny Reinsch: ‘Our mission is to provide liquidity to SMBs and freelancers around the world’ Nationwide Announces New Partnership...
Zopa plans to reopen to new investors by end of the year after stopping investor on boarding earlier this year; they stopped taking new money because they were finding it harder to get good quality borrowers; they also saw a big jump in demand for their Innovative Finance Isa; while the plan for opening to new investors is targeted at year end it could be delayed by existing investor's Isa demand. Source.
Fintech funding rounds of this size are few and far between- Zopa plans to use the investment to further its plan to "be Britain's best bank."
P2PGI aims to raise £209 million through the deal and is working with Deutsche Bank to facilitate the Zopa loan book securitization; the portfolio will contain 31,153 loans with an average weighted interest rate of 7.2%; according to AltFi, P2PGI will hold a material net economic interest for the duration of the transaction and will also purchase at least 5% of each class of notes. Source.
2019 was another great year for the fintech market overalls but not all companies saw success in 2019; AltFi takes...
Funding Circle and Zopa both discussed the rationale for becoming a bank at the AltFi Europe Summit; Funding Circle's Samir Desai talked about three ways online lenders are collaborating with banks and said, "We at Funding Circle have no plans to launch a bank."; comparatively, Zopa is taking the opposite approach and Jaidev Janardana discussed the firm's bank expansion, noting that the firm will be focusing on savings deposit accounts and will be using deposits to fund loans. Source
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Clearbanc just launched a valuation tool that its cofounders are calling a credit score for startups. Here’s what entrepreneurs need...
The Financial Times has released their annual ranking of the fastest growing companies in Europe; the list features some household...
Worsening conditions for the public's financial health have caused the FCA to launch a consultation. The fintech sector is already way ahead.