AltFi News - 26.07.19

The latest news from the world of Alternative Finance and FinTech
In the news this week
News of a new millennial-focussed app aimed at those who find finance confusing surfaced this week, as well as some lofty targets for Growth Street. Talk of regulation of the P2P industry was brought to the fore again this week by a European watchdog, while Monzo, Atom and the UK Fintech industry as a whole were all part of good news stories you'll be able to read below.
Fintech launches jargon-busting investment app for millennials



London-based Finimize says the app is aimed at 25-to-34-year-olds who find finance makes them “feel confused, bored or stupid”. (AltFi)
Growth Street
Growth Street plans to lend £1bn to companies by end-2022



Growth Street, the fintech which has lent over £100m to small business since 2014, wants to lend £1bn by the end of 2022. (Growth Business)
What we’ve seen in Search
The number of people searching for loans has increased this year, with searches up almost 8% compared to July 2018.
generic loan search trends
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European banking watchdog calls for more domestic P2P regulations
The European Banking Authority (EBA) has called for proposed cross border peer-to-peer lending and crowdfunding regulations to go further to protect consumers. (P2P Finance News)
Stat of the Week
The amount invested in the UK FinTech sector in the first six months of 2019 was approximately 85% of the sector's total funding in 2018
Monzo strikes “long-term” travel insurance partnership with AXA
Travel insurance has long been a feature teased for Monzo’s premium subscription offering, Monzo Plus, and it appears the digital bank has picked insurer AXA to be its insurance partner. (AltFi)
Atom Bank bags £50m investment to fuel future tech growth
The new capital will be used to fund further growth and to continue the bank’s investment in technology. (Bdaily)
Quote of the Week
"The existence of differences in regulatory status across the EU is undesirable from a level-playing-field perspective and is a source of market fragmentation."
The European Banking Authority calls for more domestic P2P regulations
UK Fintech Bullish Despite Political Uncertainty
Investment into UK FinTech startups this year was off to the quickest start compared to any calendar year, with the current total invested equivalent to nearly 85% of the total that was raised in 2018. (The FinTech Times)
Tweet of the Week
fintech tweet of the week
Just over a week to go!
The Prudential RideLondon - Surrey 100 is now just over one week away and Neil, our CEO, is getting nervous! He's done his training and now realises just how far 100 miles on a push-bike is.
He's collecting donations for Friends of Sussex Hospices, a local charity run entirely by volunteers. They raise funds to support the running costs of the twelve hospice care providers that serve the people of Sussex.
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