News Briefing - Crowdfunding, SME And Alternative Finance

leopard running

1.UK – FinTech    

Finextra reports: 

 

“Revolut has launched a glow-in-the-dark debit card in partnership with two-times world heavyweight boxing champion Anthony Joshua as part of a programme to raise funds for independent boxing gyms across the UK. 

For every limited edition Anthony Joshua card ordered, Revolut will donate £1.00 to support federated boxing clubs in England and Scotland, with a minimum £50,000 in funding set aside for the project.

Facilities such as gyms and leisure centres were not included in the UK Government’s Sport Winter Survival Package that was announced late last year, and sports charity ukactive has estimated that 400 facilities have closed their doors permanently since the beginning of the pandemic and another 2,400 gyms are at risk.

Boxing clubs supported by the scheme will have their own unique referral code, and will receive £1 for every card purchased using that code. The gym who refers the most will also receive an additional £10k.

The card, which is branded with Anthony Joshua’s motto, 258, is black and white during the daylight and transforms to a luminous green and black in the dark.” 

 

2. UK – FinTech 


AltFi reports: 


“In the last few months a host of high-profile IPOs, including Deliveroo and PensionBee, have turned to PrimaryBid in order to include a customer-only share offering in their float plans. 

The flurry of activity comes after years of steady growth for the fintech, which secured $50m in investment just last October from venture backers including Draper Esprit to continue its growth. 

We spoke with PrimaryBid’s CEO and founder Anand Sambasivan, and Draper Esprit partner Vinoth Jayakumar, in the wake of Deliveroo’s IPO last week to find out how the journey to democratise access to public offerings is going. 

“We’ve certainly captured the imagination of so many companies that are now listening on both sides of the Atlantic,” Sambasivan told AltFi, adding that the last few months have been a “career highlight” for him. 

Over the last year or so the fintech has focused on narrowing the kinds of retail investors it can help companies reach, building out its tech to target existing shareholders, employees, and even specific friends, family and customers.” 

 

3. UK – FinTech 


Cash is in terminal decline, according to an opinion piece in AltFi. 


“Cash usage has long been on the wane but, by the looks of it, the Covid-19 pandemic could be the final nail in the coffin. 

Within the first few days of lockdown 1.0 back in 2020, cash usage had already halved in the UK. Now, digital payment methods, like Apple Pay or Google Pay, are the most popular way to pay.” 

 

4. International – FinTech 


Finextra reports: 


“Latin American cross-border payments platform dLocal has bagged $150 million in funding and recruited JPMorgan's global head of fintech as chief operating officer. 

Alkeon Capital led the round alongside BOND, D1 Capital Partners, and Tiger Global. It follows a $200 million round in September and puts a valuation on the Uruguayan-based ccompany of $5 billion.

The firm specialises in connecting global merchants to emerging markets, enabling clients to accept payments, send payouts and settle funds globally without the need to manage separate pay-in and payout processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.” 

 

5. International – FinTech 

 

Crowdfundinsider reports: 

 

“The team at Bancor (BNT), which serves as a protocol and standard for decentralized exchange networks for the automated conversion of crypto tokens into other tokens, including across blockchains (without requiring an order book or counterparty to facilitate the exchange), reports that the Bancor Vortex Burner has been deployed to the Ethereum (ETH) mainnet. 

As explained in a blog post by Bancor, the Vortex Burner “collects 5% of swap fee revenue and uses it to buy and burn vBNT.” The announcement further noted that BNT tokens will be “burned with every swap — locking BNT in the protocol forever, and putting deflationary pressure on the circulating supply of BNT.” 

The update also mentioned that BNT burning “lowers borrowing risk for users who wish to take leverage on their staked BNT.” The Bancor team claims that the vBNT burn rate will become “a critical part” of the BancorDAO’s “flexible” monetary policy, and may be “adjusted to collect up to 15% of swap fee revenue.” 

The Vortex Burner provides an “adjustable” fee taken from swap revenue that’s generated by liquidity providers (BIP9 and addendum). For instance, if a $100,000 trade is performed on a pool with a 0.2% pool fee, $200 is “collected by the liquidity providers as commission,” the Bancor team noted while adding that the vBNT burner “takes a 5% portion ($10) and uses it to buy vBNT and burn it.” 

As mentioned in the announcement, vBNT burning is designed to: 

  • Increase locked liquidity: “a portion of every swap is permanently locked into the protocol” 
  • Reduce the circulating supply of BNT: “BNT is continuously bought and removed from circulation forever” 
  • Increase lending capacity: “By putting continuous upward pressure on the vBNT price, the burning of vBNT lowers borrowing risk for users who wish to take leverage on their staked BNT” 
  • The full powers of the Bancor Vortex “can now be accessed to perform key actions on the network that drive increased value to traders, LPs and the protocol’s owners, BNT holders.”