AltFi News - 22.06.18

The latest news from the world of Alternative Finance and FinTech
In the news this week
The big story this week was the news that RateSetter is working on a £30m fundraising, which is set to serve as a prelude to a London float. The funding round, which would value RateSetter at about £280m, comes the same week as the peer-to-peer lender announced that its Innovative Finance ISA has attracted more than £100m. Also on the fundraising hunt is Crowdcube, after it reported an operating loss of £4.7m for the year ending last September, despite the average size of a completed pitch increasing average revenues per campaign by 19 per cent.
Peer-to-peer lender RateSetter to raise £30m as London float looms



Peer-to-peer lending business RateSetter is working on a £30m fundraising which is expected to be a prelude to a London float. According to Sky News RateSetter is working with investment bank Lazard and broker Peel Hunt to raise £30m from investors. (City A.M.)
Crowdcube is steadily losing cash, with new fundraising on the horizon
Exeter-based Crowdcube has posted losses for another year, as revenues slump due to sources of new campaigns on the platform drying up. Despite its status as one of the UK’s largest crowdfunding platforms, and having previously raised an additional £1m in... (City A.M.)
Revolut launches 'app store for business banking'
Fast-growing FinTech Revolut has announced the launch of Revolut Connect, hailed as the "ultimate tool to complement business banking". The new tool allows the company's Revolut for Business customers to easily build integrations with popular business apps to help them save time and money. (BusinessCloud)
What we’ve seen in Search
Searches for loans since mid-April have been noticeably higher than 2017
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RateSetter ISA attracts £100m
RateSetter has announced that its Innovative Finance Isa (IFIsa) has attracted more than £100m in subscriptions in just over four months after its launch. This marks the third major milestone for the P2P lending platform within the last month. (B&C)
GPS raises £44 million to fund international growth
Global Processing Services, which provides the backbone card processing tech for a host of fintech startups and challenger banks in the UK, has raised £44 million to fund plans for international expansion. (Finextra)
Stat of the Week
Debit card payments increased by 14% last year, while cash payments decreased by 15%
London tech organisations unite with JP Morgan Chase to double founder diversity by 2020
An initiative to boost access to investment for tech startups founded by women and people from minority ethnicity backgrounds has launched today, backed by JP Morgan Chase. (City A.M.)
Tweet of the Week
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At its core, marketing an ICO is no different to marketing any other product: the basic principles of creating awareness, understand and trust amongst a broad, but relevant target audience all apply. Of course, where you go to find your audience and the tactics that you need to deploy...
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