News Briefing - Crowdfunding, SME And Alternative Finance

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1.UK - FinTech 

AltFi reports: 


“Some 5,000 customers of current account minnow icount are being migrated over to Cashplus as part of its acquisition of the fintech. 

Founded by Samuel Mond, icount started in 2009 and grew through the acquisition of customers from ClearDebt in 2014. 

“I remember acquiring our first cardholder and I’m extremely proud to have built a portfolio of accounts transacting over £2m per month,” said Mond.  

“I look forward to seeing where the business goes next now as part of the Cashplus family of products.” 

Cashplus meanwhile says it is now in the “final stages” of its application to become a full UK bank, with over 1.6m current accounts now opened.” 

2. UK – FinTech 


The Fintech Times reports: 

 

“As interest in sustainable investing continues to grow apace, Clim8 Invest (Clim8), a digital investment platform to help consumers invest exclusively in companies focused on tackling the climate crisis, has raised a further £2.4 million in funding. 

Investment has come from a range of venture funds, cleantech and technology experts and more than 1900 retail investors via the Crowdcube platform. Investors in this round include 7percent VenturesBasil CapitalEvergreen FundEcoSummit Ventures and several ex-partners of McKinsey. 

This total exceeds its initial target by 600% and combined with a previous round of £2 million means that the company has now raised £4.4 million to help fulfil its mission to empower people to make a positive impact on the environment while delivering healthy financial gains for their personal futures. The Clim8 portfolio has made an excellent start and if it had been running for the last twelve months, it would have achieved a return of 16%.” 

 

3. International – FinTech

Crowdfundinsider reports: 

 

Governance.com, a Luxembourg-based fintech that provides technology-enabled governance solutions, has raised nearly €450,000 through its equity crowdfunding campaign on Crowdcube. The funding round, which originally sought to raise €250,000, has so far attracted more than 355 Crowdcube investors. 

As previously reported, Gorvernance.com was founded by twin brothers Bert and Rob Boerman. The platform provides simple, efficient and technology-enabled governance solutions. 

“We help regulated businesses achieve sustainable business success by understanding critical process information, enabling you to identify and deal with exceptions while recording every action in a perfect audit trail. Connect data across organisational silos and make it available in simple views and easy-to-understand dashboards. Create automated workflows and ensure that every step of each process is followed as designed, while increasing efficiency and eliminating repetitive tasks. ” 

 

4. International – FinTech 


Finextra on a planned expansion from Goldman Sachs’ retail offering this year: 


“Goldman Sachs has begun internal testing of a digital wealth management service for the sasses, as it continues its push into the mainstream consumer market. 

Set for roll out early [this] year, the automated investment service is undergoing trials with staff.

Employees who sign on to the digital service, called Marcus Invest, will pay an annual management fee of 0.15%, according to a company memo, seen by CNBC

“As we prepare for the public launch in Q1 2021, we are pleased to invite consumer and wealth management colleagues to provide early feedback on Marcus Invest through our beta program,” the email said.

The Marcus Invest account can be started with as little as $1,000, giving users a choice of three model portfolios composed of ETFs from Goldman and outside providers.” 

 

5. International – FinTech 


Finextra reports the latest volatility from cryptoland: 


“It's a happy new year for holders of bitcoin, with the value of a single coin surging past the $34,000 mark on Sunday. 

The cryptocurrency entered the New year wth a bang, reaching an all-time high of $30,000 on 2 January.

The pandemic, and growing institutional investor activity in the market, has put rocket boosters under bitcoin. The currency rose by 300% in 2020, passing its previous record valyue of $20,000 in December

The sharp rise is being aided and abetted by Federal Reerve stimulus efforts which has seen investors taking shelter from a faltering US dollar.

The soaring price has raised concerns that Bitcoin is due for a dramatic correction, as happened three years ago when the value collapsed after a bull run.

Indeed, by midmorning UK time the cryptocurrency had shed many of its gains, dropping 13% to a little over $29,000.”