The latest news from the world of Alternative Finance and FinTech
In the news this week
We're not even two weeks into the new year, but there are already some big stories to tell you about. Goji, the peer-to-peer investment manager and Innovative Finance ISA administrator, has secured a multi-million pound funding round from investors including Anthemis’s Venture Fund 1 and AXA Strategic Ventures. A new comparison site has launched called Apples for Oranges, which will allow customers to shop around for ISAs, including Innovative Finance ISAs. Elsewhere, London’s FinTech sector remains “a hotbed of investment activity” with VC investment into the UK’s tech sector reaching an all-time high in 2017.
Goji secures multi-million-pound backing from global FinTech investors
Goji, the peer-to-peer investment manager and Innovative Finance ISA (IFISA) administrator, has announced a multi-million-pound funding round led by Anthemis and AXA Strategic Ventures (ASV). The firm said on Wednesday that their backing is a sign of confidence in alternative lending assets in the... (P2P Finance News)
Innovative Finance ISA comparison site launches .
New ISA comparison site, including Innovative Finance ISAs, has been launched directly to potential investors. Apples for Oranges will allow customers to shop around for ISAs and be able to see the different returns from stocks and shares, cash and Innovative Finance ISAs in the same place. (FT Adviser)
FinTech leads the way as investment in UK tech firms doubles in 2017
As Brexit negotiations grind on, London's FinTech sector remains a hotbed of investment activity, capturing the lion's share of a £2.99 billion venture capital splurge on UK tech firms. The figures, produced by Pitchbook for promotional agency London & Partners, show VC investment into the UK’s tech sector reaching an all-time high in 2017 at almost double the £1.63 billion invested in 2016. (Finextra)
Crowd2Fund plots path to £1bn valuation
2018 is set to be a big year for crowdfunding in the UK with mounting speculation that Funding Circle, the peer-to-peer lending marketplace launched in 2010 is set to announce a £1bn stock market flotation in the next few weeks. In the meantime, however, loans-based crowdfunding platform Crowd2Fund has beaten its better-known peer out of the blocks this new year, unveiling its own £30m fund-raising... (Forbes)
FinTech startup InvestUp's exploring adding bitcoin and cryptocurrencies to its robo-investment platform
A FinTech startup which directs investors' cash into peer-to-peer loans using an algorithm, is exploring a move into cryptocurrencies. The robo-investor platform is looking to pilot a new feature that will let investors allocate their cash to selection of both loans and cryptocurrencies, with separate algorithms governing both. (City A.M.)
HMT Treasury has passed an order confirming that straight-forward peer-to-peer lending does not constitute deposit-taking. At first glance, this may seem like a moot point, but until now the rules have not been clear. (AltFi News)
iwoca wins major prize for open banking innovation
Innovation foundation Nesta has awarded a £100,000 prize in its Open Up Challenge to small business lender iwoca for its work on open banking technology. Iwoca was chosen as one of 10 winners from 150 applicants by an independent panel of judges for developing products assessed as most likely to have a positive impact on UK small businesses in 2018 and beyond. (Asset Finance International)
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Analysis: FinTech vs Top 500 UK Websites
How the FinTech/Altfi/Finance world stacks up against the best sites in the UK!