The latest news from the world of Alternative Finance and FinTech
In the news this week
As we reach the end of 2018 and the festivities begin, we bring you our last weekly round-up of the year, beginning with TransferWise chairman, Taavet Hinrikus, confirming he sees ‘zero’ risk from Brexit and TransferWise will remain a UK company. Orca marches on with its plans to launch its IFISA and self-select portfolio in early 2019 with waiting lists set up for both and Blend Network has raised a healthy £10m in seed funding. With investment continuing to plough into the industry, AltFi looks set to remain buoyant despite any political turbulence ahead. Finally, on behalf of all of us here at The Marketing Eye, we’d like to thank you for your continued support this year. We wish you a very Merry Christmas and a successful 2019!
TransferWise chairman sees 'zero' risk from Brexit
Britain's departure from the European Union presents "zero" risk to TransferWise, the financial technology startup, according to its chairman and co-founder. (Telegraph)
Orca opens waiting list ahead of 2019 IFISA launch
Orca has opened a waiting list for investors interested in its self-select portfolio and Innovative Finance ISA (IFISA), with plans to launch both products in the first quarter of 2019. (P2P Finance News)
Top business leaders back UK-based P2P property lending site in £10m financing round
Publicis Group boss Maurice Lévy and Citigroup Global Markets chairman Cyrus Ardalan are among the investors who have contributed to a £10m funding round for a peer-to-peer property lending platform. (City A.M.)
How open banking opens doors for alternative SMB lenders
Use of alternative finance (AltFin) sources among small business (SMB) owners is on the rise, but still has a long way to go before it poses a legitimate threat to traditional banks’ market dominance. (PYMNTS.com)
Alternative funding sector buoyant despite Brexit concerns
The alternative funding sector 'sustained its willingness to think outside of the mainstream' in 2018, according to Independent Growth Finance (IGF) boss John Onslow, although Brexit remains its "single greatest barrier". (Insider Media)
Asset-backed lending to small businesses has hit a three-year low. Total advances to businesses with a turnover of less than £1m a year reached £1.1bn at the end of the third quarter of 2018 – down nine per cent on the same period three years ago.
New peer-to-peer property lender to launch in Ireland
A new peer-to-peer lender is set to launch in Ireland that will fund loans to the construction sector. (P2P Finance News)
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