In the news - 16.10.15

The Marketing Eye Newsletter

 
The latest news from the world of Alternative Finance and FinTech
 
 
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P2P lender TrustBuddy halts operations over ‘misconduct’


TrustBuddy, the world’s first listed peer-to-peer lending platform has suspended operations and reported itself to police after discovering “serious misconduct” including misuse of client money. (FT)


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Renewables crowdfunding in doubt as lending platform quits sector


The future of crowdfunding for renewables projects has been thrown into question after a prominent business closed its door to new green energy loans following cutbacks in government support for the sector. (FT)


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Property loan fund to launch in P2P boom


The online loan platform LendInvest is to launch a listed fund, the first such vehicle to focus on property-backed peer-to-peer lending. (FT)


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Bovill raises concern over P2P authorisation process


Advisers looking to add peer-to-peer lending into their client’s Isas may find that competition and choice in the P2P market has been reduced due to strict FCA authorisation processes. (FT Adviser)


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P2P platform Landbay joins Council of Mortage Lenders


Landbay, a UK-based alternative finance platform for buy-to-let mortgages, has become the first peer-to-peer lender to be invited to join the Council of Mortgage Lenders (CML) as a full member. (Finextra)


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Hargreaves Lansdown joins peer-to-peer race with new lending service planned for next autumn


Hargreaves Lansdown is to launch its own peer-to-peer lending service next autumn. The FTSE-100 listed wealth manager is keen to branch out from fund broking and financial advice to grab a slice of a £3billion market which is growing at an explosive rate. Five years ago, the fledgling industry was worth only £73million. (Daily Mail)


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Lend2Fund lured to London by friendly FinTech regulation


Lend2Fund, one of the10 FinTech start-ups that joined a UK Trade & Investment delegation to London last month has decided to relocate to the UK capital. (WN.com)


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Worldpay seals biggest UK FinTech IPO


Shares in Worldpay jumped six percent as the UK payment processor made its debut on the London Stock Exchange, valuing the company at £4.8 billion. (Finextra)


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GLI Finance partners with Verus360


GLI Finance has agreed to partner Verus360, a Bibby Line Group company. GLI will support Verus360 with a £5m loan facility which has conversion rights, which are expected to provide the potential for a stake of approximately 14% in the business in the longer term. (Stock Market Wire)


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Lack of funding for small businesses could cost the UK up to £2.9bn


The UK’s small businesses are being stymied by a lack of funding, which is holding the UK's economy back. A lack of funding from high street banks since the recession, has slowed small business growth and could have cost the UK economy as much as £2.9bn of potential turnover in the last five years from SMEs, according to new data from Funding Options, the alternative finance supermarket. (City A.M.)


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P2P Platform Crowdstacker offers exposure to UK property sector


Peer-to-peer lending platform Crowdstacker is launching an opportunity to lend to Amicus Finance (Amicus), offering investors 5.67 per cent annual interest over a term of just 18 months. (Property Funds World)


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City veteran warns over P2P Isa


The founder of the online investment service Bestinvest has opposed the inclusion of peer-to-peer lending in Isas, arguing it is a “mistake” to give the fashionable asset class this seal of approval so soon. (FT)


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AFME releases pan-European guide for SME financing


The Association of Financial Markets in Europe (AFME) has released a pan-European guide to help European SMEs navigate the appropriate funding for their business needs. The guide, entitled Raising finance for Europe’s small and medium-sized businesses: A practical guide to obtaining loan, bond and equity funding, provides a comprehensive overview of the financing options available. (GTR)


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UK start-up claims blockchain breakthrough in payment processing


UK start-up, Setl, has claimed a breakthrough in the financial services industry’s attempts to turn the technology behind bitcoin into a large-scale workable model by processing more than a billion potential payments a day. (FT)


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URICA moment can help small firms to grow


Liverpool is at the heart of a new form of finance aimed specifically at the small business (SME) sector. London-based URICA provides funds against invoices, but says it differs from conventional factoring by, instead, paying cash to the supplier, up front, within three of four days, for 1.3% of the invoice based on 30 days’ credit. (Liverpool Echo)


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