SyndicateRoom Series A pushed beyond £2m by £1m VCT investment
SyndicateRoom, which opened its £2.3m series A round to the public at 9.00am on Tuesday, placing a £25m pre-money valuation on the business, announced at 6.00pm the same day that Unicorn AIM VCT had joined the fundraise to the tune of £1 million. (The Marketing Eye)
Cracks are appearing in fintech lenders
People who are only allowed to borrow when money is easy may default on their loans when times get tougher. This principle has brought banks low for centuries and it has now struck fintech, the blend of finance and technology that was supposed to be cleverer and more efficient than them. (FT - subscription required)
Is marketplace lending in crisis? What impact can we expect on the UK listed funds?
The shine has very definitely come off the marketplace lending revolution amongst public market investors. Yesterday’s 35% fall in the share price of US market leader Lending Club caps a truly extraordinary last few weeks. (AltFi News)
UK peer-to-peer lenders talk up regulation after Lending Club ruckus
Barely a decade old, the UK sector has loaned 6.4 billion pounds (S$12.65 billion) so far: tiny compared with the high-street banks, but offering small companies and individuals an alternative source of cash to put business ideas into practice. (Banking & Finance)
P2P body denies Lending Club scandal will damage industry
Concerns a major scandal in US peer-to-peer lending will impact the UK market have been downplayed by the sector’s trade body, after the chief executive of one of the biggest P2P players in the world was fired for misleading an investor. (FT Adviser)
RateSetter recruits Chief Risk Officer
Cyrille Sallé de Chou is joining the RateSetter platform from Lloyds Banking Group, where he currently serves as Credit Risk Director, Mortgages, overseeing one of the biggest loan books in the UK. (AltFi News)
Barclays' old CEO is getting into fintech
Antony Jenkins, the former CEO of Barclays, is preparing to launch his own financial technology, a.k.a fintech, venture, according to reports. (Business Insider UK)
FCA pledges to help fintech firms disrupt big banks
Regulators should “be bolder” and make sure new companies can disrupt big incumbents, even if it appears to let risks into the financial sector, the City’s top regulator has said. (The Telegraph)
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