AltFi News - 01.02.19

 
The latest news from the world of Alternative Finance and FinTech
 
 
In the news this week
A FinTech start-up formed by the co-founder and former chief executive of MarketInvoice has raised £22.8 million. Mimiro, which was previously known as Complyadvantage, uses artificial intelligence to analyse the risk of financial crime for some of the world’s largest banks. Elsewhere, the uncertainty around Brexit has Europe’s FinTech companies preparing for a no-deal, while global FinTech funding reached record highs in 2018.
 
 
 
complyadvantage-charles-delingpole
Revolut backers pour $30m into new fintech startup

 

 

The fintech startup formed by the co-founder and former chief executive of London firm Marketinvoice has closed a $30m (£22.8m) funding round, backed by Revolut investors Index Ventures and Balderton Capital. (City A.M.)
 
FinTech
Europe's fintech companies are preparing for a no-deal Brexit
Europe's fintech companies are getting serious about the possibility of a no-deal Brexit. As uncertainty looms over the U.K.'s split from the EU, the industry gathered this week at the Paris Fintech Forum. Payments providers, cryptocurrency exchanges and... (CNBC)
 
 
 
 
Amex scraps Curve tie-up after two days, start up vows to fight decision with ‘full might’
American Express has blocked attempts by Curve to load its cards into the start ups all-in-one wallet, less than two days after the deal was announced. Curve customers will be able to load their Amex cards onto the UK start up’s app and spend on its own-brand smart card, as part of final-stage Beta testing, the fintech business said on Monday. (AltFi)
 
 
 
What we’ve seen in Search
Despite UK mortgage lending slowing to a four-year low, searches for mortgages are up 4.6% compared to this time last year
mortgage search trends
 
 
 
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Fintech companies attract record investments in 2018
Venture capital-backed financial technology companies raised a record USD 39.57 billion from investors globally in 2018, up 120 percent from the previous year. (banks.am)
 
 
 
 
Lendtech Pepper Money looks for UK banking licence
London-based lender Pepper Money may soon be joining the crowded ranks of UK challenger banks as it wants a banking licence. The firm was founded in 2015 and offers residential and buy to let mortgages exclusively through intermediaries. (FinTech Futures)
 
 
 
Stat of the Week
High street banks approved 2.4 per cent fewer mortgages last month than in December 2017, the study found.
 
 
 
 
Credit card spending shoots up as customers turn to extra protections
UK credit card users spent almost nine percent more last month than the year before, as more customers start using credit as their go-to way of paying at the tills. (City A.M.)
 
 
 
 
Starling Bank founder targets tens of millions of customers
The founder of app-based challenger bank Starling is targeting tens of millions of new customers. Anne Boden MBE recently revealed plans to expand the business into Ireland then the French and German markets, which she believes will allow it to expand even more rapidly than it did in 2018. (Business Cloud)
 
 
 
Tweet of the Week
fintech tweet of the week
 
 
 
The Marketing Eye says
 
 
What is the best way to spend my marketing budget?
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