AltFi News - 28.06.19

 
The latest news from the world of Alternative Finance and FinTech
 
 
In the news this week
Another week, another wave of FinTech investment activity. Private investor network Growthdeck has raised £3.5m as it looks to triple its customer base in the next four years. Nutmeg, the online investment management company, quickly secured £1 million via its equity crowdfunding campaign on Crowdcube, and JP Morgan Chase is in talks to purchase a stake in 10x Future Technologies. In other news, the UK Treasury is to conduct a long-term review of the UK's payments landscape and regulatory framework in order to lay the groundwork for a new wave of FinTech innovation.
 
 
growthdeck
Growthdeck raises £3.5m as it looks to triple investor base in four years

 

 

Private investor network Growthdeck has raised £3.5m in an oversubscribed funding round, with an aim to triple its customer base within the next four years. (P2P Finance News)
 
JP Morgan Chase
JPMorgan Chase in talks to invest in UK fintech
JPMorgan Chase is in talks to purchase a stake in 10x Future Technologies, the banking technology start-up founded by former Barclays chief Antony Jenkins... (Financial Times - subscription required)
 
 
 
What we’ve seen in Search
After rising by almost 19% last week, pension and retirement searches have risen by a whopping 38% this week, and are up by more than 97% compared to this time last year
pension and retirement searches
 
 
 
Are you using search trends to inform your strategy?
Search trend data can provide your business with the ability to create a well-defined strategy. Contact us today to find out how we can help.
 
 
 
 
UK Treasury moves to stimulate the next wave of fintech innovation
The UK Treasury is to conduct a long-term review of the UK's payments landscape and regulatory framework in order to lay the ground work for a new wave of fintech innovation. The proposals were outlined by UK Chancellor Philip Hammond at a Mansion House Dinner speech Thursday evening. (Finextra)
 
 
 
 
UK FinTech Nutmeg launches Crowdcube round & quickly secures more than £2.5 million in funding
UK-based fintech firm Nutmeg has launched an equity crowdfunding campaign on Crowdcube. The funding round quickly secured its £1 million funding target and has now nearing £2.6 million from over 1000 investors. (Crowdfund Insider)
 
 
 
Stat of the Week
Gross mortgage lending across the residential market in May 2019 came in at £21.9bn, a 0.4 per cent decline on the same month last year
 
 
 
 
Transferwise expands to the US with digital banking effort
Fintech stalwart Transferwise has lifted the lid on its expansion to the US, opening up access to its banking arm across the Atlantic. One year on from its launch in Europe, Transferwise’s borderless banking account and debit card will be available to US users from today after a short beta-testing period last month.. (City A.M.)
 
 
 
 
Monzo valued at £2bn after fresh funding round from US
Digital bank Monzo has doubled its value to £2bn after closing a fresh round of investor funding. The valuation of the London-based bank leaped as it confirmed it had raised £113m from a group of investors led by Y Combinator, a US-based investment firm best known for backing holiday letting platform Airbnb, file hosting service Dropbox and online forum Reddit. (The Guardian)
 
 
 
Quote of the Week
"We have launched this market study as we have identified concerns about the coverage and quality of credit information, the effectiveness of competition between credit reference agencies, and the extent of consumer engagement."
Christopher Woolard, director of strategy and competition at the FCA on concerns over how the credit information sector helps and hinders borrowers from getting loans
 
 
 
 
UK banks restart no-deal Brexit planning
UK banks are beginning to restart preparations for a no-deal Brexit, according to auditor EY. British financial institutions had paused their Brexit strategies over the past three months after the UK’s original 29 March departure date was extended until Halloween. (City A.M.)
 
 
 
Tweet of the Week
fintech tweet of the week
 
 
 
RideLondon - Surrey 100
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.
Click the button below if you would like to donate, every donation will help make a difference!
&

Take the first step

To find out more about how we can help you grow faster, please get in touch. We'd like to hear from you.  Or try our instant marketing healthcheck, it's free!

Request a call

Close