ARCHOVER has passed the £50m lending milestone, with no defaults or late payments since it started in 2013. The peer-to-peer business lender said it has facilitated more than £51m of funding for UK businesses to date, offering average returns to investors of 7.3 per cent. “In a world of low returns, investors are increasingly searching […]
GERMANY, Italy, France and Russia are the main marketing targets for fintech companies based in English-speaking countries, analysis suggests. One Hour Translation, an online translation agency, looked at 29,000 translation projects from English that were completed for fintech companies between 2010 and 2017. The 10 leading target languages for translation projects from English were German […]
FINTECH is creating more efficient ways of borrowing and investing, but this must not be at the expense of consumer protection, the Financial Conduct Authority (FCA) has suggested. The comments form part of the City regulator’s ‘Mission’, a series of documents explaining its approach to regulation. The first paper, ‘Our Future Approach to Consumers’, states […]
Funding Circle’s chief executive and co-founder Samir Desai would be forgiven for taking his foot off the pedal after leading the company’s stratospheric growth over the past seven years. But he is just getting started… As chief executive and co-founder of Funding Circle, in seven years Samir Desai has gone from snapping at the heels […]
DataDisrupt 2018 Date: 22-24 May 2018 Venue: Alfred Lerner Hall, 2920 Broadway, New York, NY DataDisrupt, the premier conference for the financial services data analytics ecosystem, will hold its second annual event in New York City. The three-day conference will focus on the impact of large scale data sets, new data sources, innovative analytic techniques, […]
LENDY is seeking views from investors on the introduction of an auto-invest product. The peer-to-peer property lender has issued a survey to its customers to find out their views on a product that would self-select loans for lenders. It currently only offers manual lending. Respondents are asked for their views on a three-year auto-lending product […]
ZOPA has reassured investors that the Bank of England’s interest rate hike will not impact the performance of the peer-to-peer platform’s loans. On Thursday, the central bank raised the base rate from 0.25 per cent to 0.5 per cent – the first increase in a decade. “Things may get a little more expensive for some […]
BRITISH Business Bank (BBB) has lent more than £3bn to smaller businesses that would struggle to obtain finance, through its enterprise finance guarantee (EFG) programme. The initiative provides loans ranging between £1,000 and £1.2m to small firms that would have been – or already have been – turned down for debt finance because they are […]
BUSINESS peer-to-peer lender Assetz Capital is relocating to a bigger head office in Manchester as it seeks to continue growing its team. The platform, currently headquartered in Stockport, has announced plans to move to Manchester Green. Stuart Law, chief executive of Assetz Capital, said the firm had run out of room in its current space […]
TWO peer-to-peer lenders have been ranked among the UK’s most in-demand startups, according to a new list from LinkedIn. Funding Circle and RateSetter have been placed at number eight and number 21, respectively, in the ‘LinkedIn Top 25 Companies – Startups’ list, which was released on Thursday morning. The top 25 companies were whittled down […]
PEER-TO-PEER business lender Growth Street has reached the £100m lending milestone and plans to lend the same amount over the next 12 months. The platform, which offers a flexible finance product called Growthline that lets companies access capital when they need it, has also collected accounting data on its borrowers, showing they collectively generated revenues […]
ALTERNATIVE property lender LendInvest has announced a new long-term financing partnership with Citi, as it eyes the UK’s £40bn buy-to-let (BTL) market. LendInvest has also revealed that it now manages more than £500m of lending capital on behalf of its institutional lenders, and more than £750m in total. Its investors have lent more than £1.1bn […]
INTEREST rates have been increased for the first time in a decade, prompting speculation about whether savers may start seeing better returns. The Bank of England’s monetary policy committee increased the base rate from 0.25 per cent to 0.5 per cent on Thursday, the same level as in August 2016. Comparison website Moneyfacts said the […]
PROPERTY lender Invest & Fund has passed £30m in lending, following the completion of a £5.6m residential development facility. “We passed £25m in total lending in late October,” Invest & Fund’s co-founder and chief executive David Turner (pictured) said. “Our most recent development deal takes us above £30m, showcasing our ability to find and deliver […]
HMRC is facing claims that it is understating the popularity of the Innovative Finance ISA (IFISA) and displaying a lack of urgency in responding to contradicting figures. In August, the taxman released data which showed the IFISA took £17m in subscriptions, equating to 2,000 accounts, in its first tax year since its April 2016 launch. […]