News Briefing - Crowdfunding, SME And Alternative Finance

two pedigree cats

1. UK - FinTech  

Altfi on more unicorns… 


“Global fintech funding in the first three-quarters of 2021 has nearly doubled 2020’s year-end total reaching $91.5bn, according to data from CB Insights. 

The boom in funding came after a particularly strong quarter for venture capital as investors put money to work in startups at a faster rate than in any other quarter on record.  

The surge of investment is being powered by $100m+ ‘mega’ rounds for scale-ups. There was a 136 per cent increase in the number of rounds in this category, up from 173 to 439. 

In total there was $158bn of funding in Q3, according to CB Insights data, up 105 per cent vs the previous year’s Q3 total of $77bn.  

The last 2 quarters are the first and second-best quarters in terms of total venture funding in the last decade before this.” 

 

2. UK – FinTech 


Finextra reports: 

 

“Standard Chartered is to ease enrollments to its supplier finance programme through an online platform delivered by Demica. 

The new portal will change how suppliers enrol in supply chain finance programmes by using a digital front-end while providing the bank’s enrolment team with intuitive dashboards for monitoring and sending updates to anchor companies.

The online onboarding will be delivered via Demica’s cloud-hosted working capital platform.”

 

3. UK - FinTech 

 

Altfi reports: 

 

“In the year and a half since Monzo first launched its business accounts, Monzo has just made it easier for its customers to get paid. 

Monzo’s c.100,000 business customers will now be able to get paid faster and easier, being able to request a payment link or an invoice in just a few taps. 

Integrated into the Monzo Business platform, the new tool will see small businesses cut out unnecessary admin pain points and offer greater flexibility to SMEs. 

“We know from talking to our business customers that getting paid can be a time consuming and stressful experience, adding an unnecessary burden on top of the day-to-day pressures of running a business,” Jordan Shwide, head of Monzo Business Banking said. 

“This is why we’ve used our technology expertise to streamline the entire process, making it fast, easy and turning hours of admin into a few taps in the Monzo Business account.” 

Customers will now be able to accept payment by card or by a free Easy Bank Transfer, which is powered by open banking.” 

 

4. UK – FinTech 

Finextra reports: 

 

“More UK financial institutions are targeting acquisitions and partnerships with fintech firms to boost their position in the post-pandemic market, according to a report from Lloyds Bank. 

Lloyds Bank’s sixth annual Financial Institutions Sentiment Survey found that more than two fifths (46%) of financial services firms plan to extend their relationships with fintech firms in the next year, compared with a third (32%) in 2020.

Developing new products and services (66%) was the biggest driver of firms’ fintech plans, followed by improving client experiences (53%) and driving growth (49%).” 

 

 5. UK – FinTech 

 

Crowdfundinsider reports: 


“Mortgage platform Finova has reportedly acquired its competitor, BEP Systems, in order to expand its presence in the United Kingdom. 

Finova’s Cloud-powered software is being used by more than 60 lenders and around 3,000 brokers, meanwhile, BEP, which launched back in 2014, focuses mainly on mortgages, loans and deposits for financial service providers on its platform. 

Private equity company Norland Capital is behind Finova, and has made several strategic acquisitions in this sector during the past few years. The amount paid for the BEP Systems acquisition has not been shared publicly.”