The latest news from the world of Alternative Finance and FinTech
In the news this week
Curve, the London-based FinTech that combines multiple payment cards through its mobile app, has raised $55 million (£44m) this week, bringing the start-up’s valuation to £250m. The funds will be used to accelerate product development and ‘introduce new experiences’, including the ability to split a transaction into instalments, even after the payment has been made. Elsewhere, the UK FinTech sector shows no signs of slowing, after a new high of £2.3bn in funding in the first six months of 2019.
Fintech startup Curve raises $55m
Fintech startup Curve has just announced a $55 million funding round from a group of investors as part of a successful Series B funding round. This brings the startup’s valuation to a quarter of a billion dollars. (UKTN)
UK fintech firm acquires German investment platform ebase
UK based Fintech company FNZ Group has completed the acquisition of German investment platform company ebase (European Bank for Financial Services) from Comdirect Bank in a transaction worth €154m. (Investment Europe)
Investment in FinTech in the first half of 2019 was up 45 per cent compared to the same period last year
British Business Bank lent over £6.6bn in 2018
State-owned British Business Bank has lent over £6.6bn to more than 89,000 businesses in the UK over the past year. This represents a 27 per cent increase on the £5.2bn which was lent in 2017, the bank confirmed. (P2P Finance News)
FinTech National Network expands to three new hubs
The inaugural meeting of the FinTech National Network in Manchester welcomed three new hubs as Network partners. FinTech Northern Ireland, FinTech Wales and FinTech West joined the Network, which is establishing a framework of engagement across the UK. (Business Leader)
"[the Second Payment Services Directive] is not a complete solution and we need to further develop the standards if Open Banking is to fully meet its objectives."
Imran Gulamhuseinwala OBE, Trustee of the OBIE
Manchester appointment as FinTech Raisin backed with €25m
Online savings marketplace Raisin has received an investment of €25 million from Goldman Sachs, taking its total investment to €195m and making it the best-funded tech start-up in the savings and investment area in Europe. (BusinessCloud)
Always up for a challenge, Neil Edwards, The Marketing Eye's founder and CEO has decided to take part in The Prudential RideLondon - Surrey 100. 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.
It's going to be a tough ride, the longest he's tackled to date, but he's going to give it a good go.
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