The latest news from the world of Alternative Finance and FinTech
In the news this week
London FinTech firm GoGardless has raised a whopping $75 million (£57 million). The Series E investment, which comes just 17 months after it raised $22.5 million (£17 million), will help it to ‘open up access to the world’s first global bank debit network’. In other news, Revolut is to hire a team of hackers to hack into its IT system to help fend off real cyber-attacks and prevent potential data breaches and fraud, while peer-to-peer lending platform Assetz Capital has surpassed the £700 million lending milestone, less than a year after surpassing £500 million.
London FinTech raises monster $75m
London FinTech firm GoCardless has secured a huge $75 million Series E investment. Established in 2011, GoCardless is a relative veteran of the capital’s financial tech scene which employs almost 300 people. (BusinessCloud)
Revolut to hire team of hackers to bolster cyber defences
The start-up fintech firm is looking to recruit five computer experts that will attempt to hack into its IT system to help fend off real cyber attacks and prevent potential data breaches and fraud. (Belfast Telegraph)
Assetz Capital surpasses £700 million lending milestone
UK-based peer-to-peer lending platform Assetz Capital recently surpassed its £700 million lending milestone. According to AltFi, This news comes less than a year after the online lender surpassed £500 million in lending. (Crowdfund Insider)
Revolut’s Russian founder stirs up Lithuania’s fintech debate
British digital bank Revolut has been caught in the middle of a deepening political debate in Lithuania over the country’s recent push to challenge the UK as Europe’s financial technology hub. (FT - subscription required)
Zopa’s latest report reveals 1 in 3 Brits in the dark on Cash ISA rate
Peer to peer lender Zopa announced on Wednesday its new research revealed that millions of people across the UK do not know the rate of interest on their Cash ISA, which means billions of pounds are potentially languishing in accounts earning little or no interest or even losing money when accounting for inflation. (Crowdfund Insider)
46,397 new equity release packages were agreed in 2018. Total lending activity for 2018 grew for a seventh consecutive year to reach £3.94 billion, up 29 per cent year-on-year.
The Dutch ‘Brexit Snatch’: Why Azimo is not quitting the UK
Have you heard the news? Azimo is one of 250 companies moving to the Netherlands in an alleged ‘Brexit Snatch’ by the Dutch government. They say never let the truth get in the way of a good story but as the chief executive of Azimo, the announcement, made by the Netherlands Foreign Investment Agency (NFIA) last week and picked up by most of the UK’s national press, came as a bit of a surprise to me. I would like to set the record straight. (City A.M.)
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