AltFi News - 02.08.19

The latest news from the world of Alternative Finance and FinTech
In the news this week
Deal or no deal - the UK’s FinTech sector certainly doesn’t seem to be feeling any of the Brexit heat. Despite a huge drop in global FinTech funding, more than £2.47 billion was invested into UK-based FinTechs in the first half of 2019. Just this week, London-based FinTech, Paysend, raised £8.5 million, while FinTech start-up Upgrade Pack closed a £1.3 million investment round. Further evidence of the UK’s strangle hold on the FinTech sector came in the news that Legal & General has partnered with online deposit marketplace Raisin.
Fintech Paysend closes £8.5 million Series B, £4.6 million from Seedrs investors



International money transfer Fintech Paysend has closed an £8.5 million Series B funding round. The securities offering was combination VC/crowdfunding offer as GVA invested £3.95 million while smaller investors contributed £4.26 million via the Seedrs crowdfunding platform. (Crowdfund Insider)
Legal & General inks fintech partnership with Raisin



Financial services company Legal & General (L&G) has announced a partnership with UK-based fintech Raisin. The collaboration will provide L&G’s customers with access to cash savings accounts protected by the Financial Services Compensation Scheme (FSCS) through Raisin’s marketplace. (The Paypers)
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UK fintech startup Upgrade Pack closes £1.3m investment round
UK fintech Upgrade Pack has announced a new £1.3m private investment round, bringing total funds raised for its travel upgrades platform to £3.4m since launching a year ago. (UKTN)
Stat of the Week
The UK fintech sector accounted for six of the top ten M&A deals in Europe in the first half of the year
Fintech startup Revolut launches stock trading service
Revolut, the British “unicorn” fintech startup, on Thursday said it was launching a commission-free stock trading service in the UK and Europe. The company, one of the hottest digital challenger banks, said the service would be first rolled out to select customers on its premium “Metal” subscription, which costs £13 a month. (Yahoo Finance)
UK fintech soars despite global investment slowdown
More than $3bn (£2.47bn) was invested into UK-based fintechs in the first half of 2019, despite a huge drop in global fintech funding. According to KPMG’s latest Pulse of Fintech report, just $37.6bn was invested in global fintech firms in the first six months of the year, down from $62.6bn in the first half of 2018. (P2P Finance News)
Quote of the Week
"In recent years, the UK has subsequently strengthened its position as a global leader in attracting VC investment and this report delivers a vote of confidence in the UK’s fast-growing businesses and the wider ecosystem during a crucial period for the nation."
Eric Martineau-Fortin, Managing Partner of White Star Capital
FCA provides clarity on current crypto-assets regulation
The Financial Conduct Authority (FCA) is publishing its final guidance which sets out the crypto-asset activities it regulates. This is in response to the FCA’s consultation published earlier this year. (FinTech Futures)
Tweet of the Week
fintech tweet of the week
Good luck, Neil!
Our CEO, Neil Edwards, will be taking part in the Prudential RideLondon - Surrey 100 this weekend!
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.
Click the button below if you would like to donate, every donation will help make a difference!
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