Fintech P2P Lending Platform Gains £40m From the UK Government
Funding Circle, a UK-based Fintech unicorn startup has received £40m from government-owned British Business Bank to directly fund small businesses through its platform, which matches investors with businesses looking to borrow. With an aim to spur and support economic growth, the BBB acts as a financier to small and medium sized businesses. Altogether, the UK government has now invested £100 million on Funding Circle’s platform. The latest investment follows an initial £40 million by the bank in Funding Circle in 2014. Preceding that, the UK government began its investment in Funding....
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This new regulation is a first step towards supervising the fintech sector in Indonesia. Fintech is a trend that captivates audiences all over the world. A financial technology evolution is upon us, and it is only a matter of time until drastic changes occur. Indonesia is preparing for what the future may bring, by issuing a new regulation for fintech firms. To be more precise, the government focuses on P2P lending first and foremost. One of the many sectors fintech is “threatening” is the way people think about lending and borrowing money. In most cases, consumers and enterprises have to....
In a bid to respond to competition from FinTech firms U.K.-based NatWest Bank has announced that it is launching a digital lending platform that promises fast loan decisions to compete with services that peer-to-peer firms provide. In a report from Computer Weekly, the NatWest platform, known as the Esme platform, will offer unsecured loans to SMEs of up to £150,000. The FinTech industry is quickly gaining ground on traditional banking services, which is seeing banks ramping up their efforts to keep financial technology companies at bay. By doing so, banks such as NatWest are launching....
Florida-based Fintech company Finova Financial secures record-breaking $52.5 million in funding for auto title lending platform. Largest funding in history of Fintech. Being the first cloud and mobile-based auto title lending service for consumers, Finova secured one of the largest funding rounds in the history of the Fintech industry. Sources of funding include MHS Capital, Refactor Capital, Metamorphic Venture, and 500 StartUps as well as fintech entrepreneurs including Sam Hodges, Co-founder of NerdWallet, Jake Gibson, and a private company in the United Arab Emirates. Led by several....
In 2015, fintech entered the mainstream in the business world, doubling VC investment value in 2014 to over US$13.8 billion. Fintech is gaining momentum everywhere across North America, Asia and Europe. Globally in 2015, venture-capital-backed fintech companies raised $13.8 billion across 653 deals, compared to $6.7 billion across 587 deals in 2014. These statistics show the growing performance of fintech in recent years. The increase in deal volume is not as significant as the increase in deal value, indicating that average deal size has gone up dramatically compared to historical levels.....
The Australian Government Treasury has, in a detailed policy statement pledging support for Fintech to boost the industry, revealed that digital currencies such as Bitcoin will be exempt from double taxation. The policy statement also details how the government plans on regulating companies in the Fintech arena, as well as those in the bitcoin and blockchain space. In a policy statement released by the Australian Government today, new proposed measures to boost the Fintech sector and establish Australia as a Fintech destination will see the government reduce tax barriers for Fintech....