The latest news from the world of Alternative Finance and FinTech
In the news this week
The FCA said this week that they want to tap into the FinTech ecosystem outside of London. Bob Ferguson, head of innovation at the Financial Conduct Authority, says connecting with innovators outside the capital will help both start-ups and customers. In other news, Growth Street plans to inject £50m into expanding Midlands businesses over the next 12 months, having recently matched £100m of loans between investors and borrowers since launching in 2015. On the subject of business lending, MarketInvoice announced it’s expanding from peer-to-peer invoice financing, in to short-term loans of between £10k and £100k.
FCA to tap into FinTech ecosystem outside London
Tapping into FinTech innovation happening outside of the capital will result in better competition for customers, says the head of innovation at the Financial Conduct Authority (FCA). The regulatory body wants to work with new FinTech businesses innovating across the country through... (BusinessCloud).
Growth Street plans to inject £50m into Midlands SMEs
Growth Street has announced plans to inject £50m into expanding Midlands businesses over the next 12 months. The news came as the alternative finance lender targeted several key sectors for 2018 – including manufacturing, wholesale and professional services – and followed an... (Bridging & Commercial)
FinTech firm R3 and world's biggest banks build blockchain-based payments system
FinTech firm R3 and 22 of the world’s biggest banks have together developed an international payments system that would allow existing central bank currencies and any new digital ones to be transacted via the blockchain, R3 said on Tuesday. (Independent)
MarketInvoice is getting into small business lending
One of the UK's most well-known startups is taking on the big banks with a move into lending for small business, a market worth £35bn a year. MarketInvoice is expanding from peer-to-peer invoice financing into short-term loans of between £10k and £100k. (City A.M.)
Funding Options announces support for FCA’s plan to extend Financial Ombudsman Services
Funding Options, a UK-based online marketplace for business finance, announced on Wednesday it is supporting Federal Conduct Authority (FCA) plans to allow more SMEs access to the Financial Ombudsman Service (FOS). (Crowdfund Insider)
FinTech firm ‘to bring 100 jobs’ to Manchester
FinTech group Ebury plans to recruit 100 staff for its regional hub which has opened in Manchester. It has launched with 13 people in offices in King Street, which it expects to quickly outgrow. Ebury has ambitions to make Manchester one of its largest offices in Europe, supporting corporates with trade finance and foreign exchange services. (TheBusinessDesk.com)
FinTech startup Transferwise closes $280m funding from top investors
One of the UK’s star FinTech startups has closed a huge new funding round from top investors, including an early backer of Netflix, Snap and Twitter. Transferwise has raised $280m led by Silicon Valley venture firm IVP and Old Mutual Global Investors. (City A.M.)
British Business Bank’s EFG scheme hits £3bn lending milestone
British Business Bank (BBB) has lent more than £3bn to smaller businesses that would struggle to obtain finance, through its enterprise finance guarantee (EFG) programme. (P2P Finance News)
The Marketing Eye says
Whither the P2P borrowers? .
Attracted by the high yields on offer, lenders large and small, private and institutional, are queueing up to make money available for P2P loans. A few of the more recent developments have seen Zopa hook up with the...
Content creation vs. content curation
Producing enough content to keep your audience engaged is a challenge, especially for SMEs and startups. In our previous blog post ‘Content marketing for social media' we looked at why you should...
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