The latest news from the world of Alternative Finance and FinTech
In the news this week
Kuflink has launched its secondary market in the first of several scheduled platform enhancements. The peer-to-peer bridging lender will let investors list loan parts on the market. Narinder Khattoare, chief executive of Kuflink, said: “The whole team here at Kuflink is delighted to have launched our secondary market, the first in a long line of impressive products we’re bringing to the market this year.” Elsewhere, UK FinTech unicorn Oaknorth has raised £343m from Japanese mega investor Softbank, while the UK remained the top destination for FinTech investment in Europe with more than £16bn in funding in 2018.
Kuflink launches secondary market
Kuflink has launched a secondary market in the first of several promised platform enhancements to come for investors and borrowers this year. The peer-to-peer bridging lender will let investors list most loan parts on the market, although some restrictions apply such as for loans in default or less than a month from... (P2P Finance News)
UK fintech unicorn Oaknorth to nail $440m round led by Softbank
Japanese mega investor Softbank has led a $440m funding round in savings challenger Oaknorth, investing in the company via its $100bn Vision Fund. City A.M. understands the Clermont Group also participated in the round, which is expected to close tomorrow morning. (City A.M.)
UK challenger bank Griffin gears up for wholesale launch
London-based Griffin is preparing to unveil its new wholesale (“infrastructure”) challenger bank in the UK. The “bank as a platform” or “API-first bank” will provide technology to fintechs that need custodial accounts and access to interbank payments. (FinTech Futures)
UK fintech Rapyd raises $40 million through Series B funding round
Rapyd, a UK-based fintech, announced on Wednesday it raised $40 million through its Series B funding round, which was led by General Catalyst and Stripe. Founded in 2016, Rapyd describes itself as a mobile-first financial network that makes the world’s “favourite ways” to pay and be paid instantly available through a single API and SDK. (Crowdfund Insider)
Four in 10 UK first-time buyers will retire with mortgages
Starling Bank raises £75m partly to fund more small businesses
Challenger bank Starling Bank has raised £50 million in a Series C funding round led by Merian Global Investors through its Merian Chrysalis vehicle. Existing Starling backer Harald McPike, a Bahamas-based hedge fund investor, invested a further £25 million, bringing the total raised to £75 million. (Growth Business)
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