The latest news from the world of Alternative Finance and FinTech
In the news this week
FinTech firm Capify has secured a £75 million credit facility from Goldman Sachs Private Capital in a bid to support its future growth plans. The alternative business finance provider will use the financing to accelerate the growth of its lending business through its merchant cash advance and business loan products. In other news, another Manchester-based FinTech firm AccessPay has secured a £9m investment package led by transatlantic venture capital investor Beringea. The investment marks the expansion of Beringea’s footprint in the North West.
Greater Manchester FinTech secures £75m credit facility
FinTech firm Capify has secured a £75 million credit facility from Goldman Sachs Private Capital to support its future growth plans. The alternative SME finance provider will use the financing to accelerate the growth of its lending business to UK SMEs through its merchant cash advance and business loan products. (BusinessCloud)
A Manchester fintech firm has landed a £9m investment package. Transatlantic venture capital investor Beringea is leading the £9m investment in AccessPay. The funding, backed also by US investors True Ventures and Route 66, is one of the largest ever investments in a financial technology company in the... (The Business Desk)
RateSetter has announced that it has now originated more than £3bn of loans. The P2P lending platform originated over £700m of new lending in 2018, while the amount of active loans under its management has grown to £820m. (Bridging & Commercial)
Amicus Asset Finance aims to nearly double in size under new ownership
Amicus Asset Finance has moved back into private ownership amid plans to nearly double the size of the business in the next year. The business was formerly owned by Amicus Finance, which entered administration at the end of last year, affecting its property and commercial mortgages arms. (Asset Finance International)
Just 15,000 extra banking customers switched their current accounts last year despite the launch of Open Banking
Crypto trading platform Currency.com launches
Currency.com, a Gibraltar-based trading platform for tokenised securities, has launched with an $8 million investment from Larnabel Ventures and VP Capital. The platform uses blockchain technology and wants to “turn traditional methods of investing on its head”. (FinTech Futures)
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