AltFi News - 25.01.19

 
The latest news from the world of Alternative Finance and FinTech
 
 
In the news this week
We’ve seen a number of FinTech funding rounds this week, showing that the UK’s FinTech sector remains attractive to investors despite the economic uncertainty of Brexit. Growth Street has raised a £7.5m scale-up investment round led by the Merian Chrysalis Investment Company Limited, while MarketInvoice raised £56 million courtesy of Barclays and Santander. In other news, Metro Bank revealed a mistake in its loan book and a profit warning that wiped more than £800 million off its market value.
 
 
 
Growth Street
Growth Street scores £7.5m scale-up round led by Merian Chrysalis

 

 

Signalling a vote of confidence in British fintech, business lending platform Growth Street has raised a £7.5m scale-up investment round led by the Merian Chrysalis Investment Company Limited (Merian Chrysalis). (Finextra)
 
MarketInvoice
MarketInvoice wins backing from Barclays and Santander as banking disruption gathers pace
UK fintech MarketInvoice has kicked off the funding market for 2019 with the backing of Barclays and Santander as part of a £56 million ($72 million) debt and equity financing. (Business Insider)
 
 
 
 
Metro Bank chief defiant as shares fall 39% after blunder
The chief executive of Metro Bank has insisted he is not under pressure to resign, despite the lender revealing a mistake in its loan book and a profit warning that wiped more than £800 million off its market value. (The Times)
 
 
 
What we’ve seen in Search
Searches for investments are up 57.4% compared to this time last year
investment search trends
 
 
 
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Robinhood rival Freetrade moves into US stocks as transatlantic retail investing battle hots up
London fintech startup Freetrade has today launched US stock trading on its app, in the midst of growing rivalry in the commission-free trading space. (City A.M.)
 
 
 
 
Goldman Sachs backs UK-based robo adviser Nutmeg in latest funding round
UK-based online wealth manager Nutmeg said on Tuesday it raised $58.2 million in funding from investors, including Goldman Sachs Group Inc, proceeds of which will be used mainly for international expansion. (Reuters)
 
 
 
Stat of the Week
84% of industry professionals expect more SMEs to switch banks in 2019
 
 
 
 
FCA answers calls for cryptoasset clarity
The UK’s Financial Conduct Authority is in a consulting mood as it seeks to set out the cryptoasset activities it regulates. The guidance will help firms understand whether their cryptoasset activities fall under FCA regulation. (FinTech Futures)
 
 
 
Tweet of the Week
fintech tweet of the week
 
 
 
The Marketing Eye says
 
 
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