P2P sector shows support for Ukraine
Peer-to-peer lenders and fintech firms have stepped up to show their support for Ukraine amid the Russian invasion of the country and increasing humanitarian crisis.
European platforms such as Mintos and Twino are monitoring investor loan exposure to the region but many firms are also using their position to provide fundraising support and work visas for Ukrainians.
Here is how the industry is trying to do its bit to help those affected by the conflict.
Donations
Assetz Capital and its institutional backer Aros Kapital have agreed to make donations to relief organisations out of the profits from their continuing partnership.
UK fintech trade body Innovate Finance has also held sessions on how members can donate to humanitarian causes.
Read more: Mintos extends Russia loan ban
On the continent, Estonia-based P2P lender Bondora has donated to Mondo, a non-government organisation that is providing humanitarian relief in Ukraine.
Similarly, Twino has teamed up with other fintech companies and Latvian businesses to raise at least €5m (£4.13m) for Ukrainian causes.
Read more: Twino creates taskforce to manage Russian loans
Visas
Helping Ukrainians escape the Russian bombings and reach safety is one of the main priorities.
Zopa Bank announced at the end of February that it will support up to 50 work visas for eligible Ukrainian applicants already in the UK with backgrounds in engineering, technology, and data analytics or with experience in consumer financial services.
It will also fast track job applications from Ukrainians wanting to join their British national family members in the UK and will provide a relocation allowance of one month’s salary to support the moving costs.
Similarly, Funding Circle has teamed up with Job Aid to help fund fast-track UK visas for highly-skilled Ukrainian workers. It is also offering a relocation grant worth £4,000.