LENDY, the peer-to-peer property platform, repaid five loans in full in February to investors. The repaid loans had an average interest rate of eight per cent a year. They included £2.3m secured against a luxury apartment in Cheyne Gardens, Chelsea; and more than £206,000 secured against a residential property in Wales. Other loans repaid during […]
THE EUROPEAN Commission has proposed a draft law to enable crowdfunding platforms to access customers across the EU, as the bloc looks to become a global hub for fintech. The executive arm of the EU revealed an action plan on Thursday that looks to tap into rapid advances in new technologies such as blockchain, artificial intelligence […]
BUSINESS lender Ablrate is considering buying the loan book of Collateral, the peer-to-peer lending platform that recently went into administration. Ablrate’s chief executive David Bradley-Ward said he has contacted Collateral’s administrators to find out how it can help. “If there is a way we can buy the debt, take over the running of the debt […]
A VENTURE capital firm that has a stake in Zopa has breezed through its crowdfunding target to hit £695,000 before closing to new investments, and now looks set to raise £100m from a London flotation. Augmentum Fintech, a closed-ended investment company that has £10m backing from the Jacob Rothschild-chaired RIT Capital Partners, saw 298 investors […]
WOMEN are more likely than men to repay small business loans on time but struggle to access traditional funding, according to new research. In total, women are 18 per cent more likely to pay back small business loans on time compared to their male counterparts, according to alternative business lender Iwoca. Iwoca’s data scientists calculated […]
RANGER Direct Lending’s (RDL) ongoing legal dispute with its Princeton holding pushed its net asset value (NAV) return down to 0.43 per cent in January, the investment trust has revealed. RDL has been locked in arbitration proceedings with Princeton since last year over its exposure to bankrupt lender Argon Credit, and without these costs it […]
LANDBAY founder John Goodall has warned banks will struggle to lend without the cheap money from the Bank of England’s Term Funding Scheme (TFS). The scheme, which launched in September 2016 and gave banks access to cheap money on the wholesale markets on the basis that they would lend more to borrowers, closed at the […]
InsTech Summer 2018 Date: 11 July 2018 Venue: BT Centre, London The event is created by an the Industry Advisory Board of insurance and broker CEOs, COOs, CTOs and Heads of Innovation together with instech start up founders. Hundreds of senior insurance executives join the event to hear case studies, debates, panels and start up […]
PEER-TO-PEER property investing is a popular way to earn decent interest with the added security of bricks and mortar should things go wrong, and now many of those returns can be earned tax-free using an Innovative Finance ISA (IFISA). Many of the providers will also offer reserve funds but watch out for fees and whether […]
VICTORY Park Capital (VPC) Specialty Lending Investments has reported that gross revenue return from its balance sheet investments hit an all-time high in January. The alternative finance-focused investment trust has been ramping up its balance sheet investments since late 2016, when it announced that it was winding down its underperforming marketplace lending portfolio. Its balance […]
EVER fancied using your peer-to-peer investments to hit the slopes? P2P lenders are being offered discounts on ski apparel if they help fund a £200,000 loan to Planks Clothing on Crowd2Fund. Online retailer Planks Clothing, which secured a £100,000 venture debt loan from the P2P business finance provider last year, is seeking funding again to manufacture […]
LATVIAN peer-to-peer payday loans platform Robo.cash has grown its loan book to €3m (£2.6m) in its first year of operation. The platform, which provides short-term loans to borrowers in Kazakhstan and Spain, announced on Tuesday it has attracted 2,000 investors from 29 European Union countries including the UK. Investors have funded 330,000 loans, with an […]
LENDY is introducing a new voting system for its investors to have a say over what happens with loans they are funding that are facing issues. The peer-to-peer property lender released new terms and conditions on Monday detailing a new voting process giving lenders a vote equal to how much they have invested in a […]
THE EUROPEAN Crowdfunding Network (ECN) has joined a pan-European trade body for financial advisers and intermediaries, in a move that is expected to create a stronger understanding between traditional and alternative finance sectors. The ECN, which has more than 60 corporate members, has become the latest member of the Brussels-based non-profit organisation, the European Federation […]
ASSETZ Capital has had almost 3,000 investors start the process of setting up an Innovative Finance ISA (IFISA), with those who have already started investing putting an average of nearly £12,000 into the product. The peer-to-peer lender said on Tuesday that rising inflation, lacklustre interest rates and volatile stock markets are pushing investors towards P2P […]