News Briefing - Crowdfunding, SME And Alternative Finance

street sign saying Wall Street

1.UK – FinTech

Altfi reports; 

“UK venture capital funds rose sharply over the past 12 months and have gained ground on US counterparts, a report reveals. 

The report from the British Business Bank, called UK Venture Capital Financial Returns 2021, also shows the UK has an increased proportion of top performing VC funds reporting very high returns; and that fund managers report positive views on the quality of investments available. 

Those UK VC funds which made their first investment between 2008 and 2013 have seen in an increase in their pooled Distributions to Paid In Capital (DPI) multiples of 0.26 points, from 0.79 in 2020 to 1.05 in 2021, the report says. 

DPI measures the investment returned to the investor relative to invested capital. 

This improvement was underscored by the bank’s fund manager survey showing fund managers have positive views on VC market conditions.  

Nearly all surveyed fund managers reported positive views on the quality of investments available (97 per cent) and current exit conditions (93 per cent).” 

 

2. UK – FinTech 

Finextra reports: 


“SME challenger bank Allica has agreed a £110 million Series B funding round led by Atalaya Capital Management, alongside existing lead investor Warwick Capital Partners. 

The new equity injection comes just days after the startup boosted its profitability ambitions by agreeing to buy the £600 million British small business loan book of Allied Irish Bank.

Following full completion of the AIB transaction in 2022, Allica Bank expects to have a combined total lending book of over £1 billion and to be profitable on a monthly basis.

The bank, which combines proprietary technology with a network of regional relationship managers, has so far raised £233 million - ranking the firm as one of the UK’s top 20 fintechs by funds raised, according to Beauhurst.” 

 

 

3. UK - FinTech 

 

Altfi reports: 


“Lenderwize, an invoice financing marketplace for telecoms firms, has closed a whopping €100m in debt funding to pave the way for international expansion and to take its platform global. 

Based in London Lenderwize enables telcos to improve their cash flow by selling customer invoices attached to voice, data and digital content to investors looking to take a stake in such commodities. 

The novel approach includes real-time invoice verification by providing investors with characteristics of the commodities they’re investing in, like call duration, origin, destination, and cost. Lenderwize validates this data directly with the telco. 

This fresh funding was provided by credit investor Fasanara Capital, the same investor who led the debt portion of Fronted’s £20m raise just yesterday.” 

 

4. UK – FinTech 


Finextra reports: 


“Monzo's buy now, pay later product, Flex, will come with a virtual card that lets users make contactless Apple Pay or Google Pay payments in-store. 

Unveiled in September, Monzo Flex lets eligible customers get a credit limit of up to £3000 and then pay for transactions of over £30 in three instalments at 0% interest, or over six or 12 instalments at 19% APR.

After feedback from customers with early access, the digital bank is giving users a virtual Flex card for contactless instore payments. For online transactions, customers enter their card details at the checkout. After making a payment, shoppers select an instalment plan and pay the first part.” 

 

5. US – FinTech 


Crowdfundinsider reports: 


“Cryptocurrency trading mobile app TabTrader announced today it closed a $5.8 million Series A round led by BitMEX Ventures. Also participating in the round were Hashkey Capital, Spartan Capital, SGH Capital, SOSV, and Artesian Venture Partners. 

Based in Amsterdam, TabTrader said it has more than 400,000 active users and plans to expand its 20-person team and focus on global expansion, including aggregation of decentralized crypto exchanges. The process begins with Solana-based Serum, Raydium, and Orca.”