News Briefing - Crowdfunding, SME And Alternative Finance

the silicon chip inside her head

1. UK – FinTech 

 

Crowdfundinsider reports: 


Transact Payments Limited, a provider of European BIN sponsorship and modular payment, debit, credit and prepaid services, reveals that it has experienced 380% growth in settlement volumes (EUR €) “from 2017/18 to 2020/21 across its expanding client base.” 

As mentioned in an update shared with CI, the figures from the 12 months up to April 2021 alone “highlight a leap of 75% in transactions settled.” 

The payments and card solutions business, which is focused on its quality service and industry experience, says its most recent growth has been “accelerated due to its agility in responding to client requirements during the Covid pandemic, as well as its proactive groundwork in readiness for the technological and regulatory implications of Brexit.” 

 

2. US – FinTech 


Crowdfundinsider reports: 


“The team at P2P lender Robo.cash notes that the popularization of the secondary market in the European markets has surged considerably this year, exceeding the activity in 2020. 

As for Robo.cash, every month since 2020, the volume of secondary market transactions has “grown by an average of 1.7 times,” the company revealed. 

They added: 

“More than 50% of European P2P platforms provide an opportunity to sell or buy loans in the secondary market. Of those that publish market statistics, 66% confirm these transactions exceeding the level of 2020. The number of investors choosing a secondary market option ranges up to 74% of all investors on the platform.” 

Robo.cash also noted that since the launch of the secondary market on Robo.cash, 15% of investors acquire loans by using this function.” 

 

3. US – FinTech 

 

Altfi reports: 


Revolut has acquired the full team from Wanted, a talent sourcing marketplace founded by Balazs Alexa, Guillaume Breux, Mario Eguiluz, Jean Meyer and Eva Peris in 2019.  

The five-strong team from New York-based Wanted raised a pre-seed round of $2m from Hoxton Ventures in 2019 and says it grew to a 100k user base of professionals. 

Wanted sits in the HR-tech space and describes itself as a "Headhunting as a Service" platform that helps bring down the cost of hiring top talent. 

The acquisition, Revolut says, will strengthen its product development resources.” 

 

4. US – FinTech 


Crowdfundinsider reports: 


“Pagaya Technologies Ltd., a financial technology firm that enables financial institutions to expand access to more clients via its artificial intelligence network, announced earlier this week that it formed a new partnership with SoFi (NASDAQ: SOFI), the digital personal finance company. 

The new partnership will enable SoFi to “broaden members’ access to its financial products,” according to a release. 

Pagaya’s AI, technology and infrastructure enables Fintech firms, banking institutions, and other loan providers to provide consumers with more robust access to financial products “outside the existing traditional credit models.” 

 

5. International - FinTech 

 

Altfi reports: 


“SMEs across Europe hungry for cash have a new digital bank to turn to in the form of Fibr, which launches this week. 

Fibr, is the new trading name of the rebranded Amsterdam Trade Bank, founded in 1996. The bank has a somewhat unique strategy in terms of lending directly to SMEs as well as providing wholesale lines of credit to alternative lenders across Europe such as Creditshelf. 

Its direct lending comes in the form of secured business loans and working capital loans. It has lent over €20m of loans to over 175 SMEs in the UK and Netherlands so far but has plans to scale this to €1bn. 

It offers savers deposit accounts, currently only in Germany and the Netherlands, that funds loan origination as well as third party funding lines. It will open for UK savers in 2022. 

Headquartered in the Netherlands, Fibr also offers a lending-as-a-service platform to other lenders.”