News Briefing - Crowdfunding, SME And Alternative Finance

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1.UK – FinTech  

AltFi reports: 

“Digital banking service Revolut has taken yet another step closer to becoming a one-stop-shop for all of its users’ financial needs. 

The fintech, which is well on its way to becoming a financial ‘super app’, has added 11 new cryptocurrencies for its UK and EU customers to trade, taking its total offered up to over 20 coins. 

In a blog postRevolut said: “You asked for new tokens, we’ve delivered. We’ve been tracking hot tokens and top movers to bring our UK and EU customers 11 new cryptocurrencies.” 

Users will now be able to trade Cardano, Uniswap, Synthetix, Yearn Finance, Uma, Bancor, Filecoin, Numeraire, Loopring, Orchid, and The Graph, as well as the other 30+ cryptocurrencies already available on Revolut’s trading platform. 

As it stands, Filecoin is the most expensive coin to be added, coming in at £ 110.42 per coin, while Cardano is the least expensive, currently sitting at around £0.88 per coin. 

To help familiarise users with the new coins, Revolut also provided a short blurb about each new coin and reminded users of the risks and volatility surrounding cryptocurrencies.  

Earlier this year, Revolut issued a warning to its customers about Ripple’s cryptocurrency XRP after several exchanges began delisting the electronic currency. 

Despite warning its customers away from XRP, Revolut’s users could still trade the embattled coin as long as its partner exchange continues to allow it to do so. 

Unlike other crypto wallets, Revolut’s users can’t actually remove their purchased coins from the Revolut app, rather they are held “in cold storage with some of the best custodians in the crypto game.” 


2. UK – FinTech 


UK challenger Atom Bank has confirmed a £40 million fund raise at 60p-a-share, just under half the price at which it raised equity in 2019, according to Finextra. 

“As previously reported, the raise is being led by Spanish giant BBVA, which owns about 40% of Atom, and Toscafund Asset Management.

Despite the steeply discounted valuation, Atom says it has seen its best ever year and is gearing up for an IPO in the next 48 months. Revenues are growing strongly, says Atom, adding that it is on course to achieve over 100bps of Net Interest Margin by the end March.

The app-based outfit says lending to SMEs on its balance sheet has tripled over the last 12 months to over £700 million. Meanwhile, it has taken over £400 million of mortgage applications in the second half of financial year 2020/21.” 



3. US – FinTech 


Crowdfundinsider looks at an artificial intelligence route into mineral rights investing. 


“Traditionally, only large investors had the resources to invest in the land and professional services critical to reaping the benefits of mineral rights investing in the oil and gas market. Today, artificial intelligence (AI) technology has opened that potentially lucrative industry to individuals with as little as $300 at 

Brane Inc.’s cutting-edge technology is using AI to mine the reams of inefficiently collected, paper-based data of the oil well creation process to determine future well locations. As a result, investors of this technology may benefit from the potentially profitable mineral rights investing activities in these new locations. 

Although the oil and gas industry experiences price fluctuations common to the commodities market, mineral rights investing for oil and gas have historically generated positive returns for deep-pocket investors. In fact, the wealthiest individuals in the world have found that investing in real estate, which often includes lucrative mineral rights, outpaced all other investments by three to one. 

The United States is one of the few countries where individuals can participate in mineral rights investing; the majority of other countries around the world maintain governmental control of all the country’s mineral rights. 

Mineral rights are sold separately from surface rights. Although they can be purchased, they are more often leased with a percentage of the profits from the sale of oil and gas extracted paid to the owner through royalties. 

Because of technological developments such as horizontal drilling, dealing with the ownership and legal implications of buying, selling, trading, and obtaining mineral rights can be complex and expensive. In addition, the regulations, jargon, and classifications surrounding mineral rights investing are vastly different from a typical real estate transaction. Finally, owning mineral rights is often tied to owning large pieces of land. All of these factors have left mineral rights investing to only the wealthy.” 


4. US - FinTech 


MoneyLion is to add a crypto-based investing and rewards offering to its mobile financial platform after acquiring a stake in digital asset settlement provider Zero Hash, according to Finextra. 

“Set to launch in the fall of 2021, MoneyLion has set up a waitlist on its Website while it fine-tunes its programme, which will offer users the ability to buy and sell bitcoin and ethereum and earn cryptocurrencies through rewards and spending roundups from debit card purchases.

A recent survey of more than 2,000 MoneyLion members found that nearly 60% are already investing in cryptocurrencies today. Of those not yet in the market, 77% say they would be interested in owning cryptocurrencies in the next year.” 



5. International – FinTech 


AltFi reports: 


“Digital consumer lender Auxmoney has secured a €250m funding deal with Citigroup and Chenavari Investment Managers.  

The new cash is the latest deal struck by Auxmoney with major institutions following a similar €500m deal with BNP Paribas in November 2020.  

One striking difference though is that Auxmoney will now be co-investing for the first time alongside partners as part of this transaction. 

Raffael Johnen, CEO of Auxmoney,  said: With our investment platform, we are able to set up partnerships at scale, further broadening our base of institutional investors.”