News Briefing - Crowdfunding, SME And Alternative Finance

crowds milling at an airport check-in

1.International – FinTech

 Altfi reports: 


“A Polish fintech that allows employees to access their salary before payday has raised €2.8m in funding. 

Founded in 2020, Flexee is an app that allows employees access to their salary, even before they are paid. It effectively allows users to withdraw money earned on demand, so they don’t have to wait until payday to access their salary.  

The idea is that it will help them if they have a short-term funding crisis or need to make one-off large payments. 

On-demand salary payment has become increasingly popular, particularly in the US and Latin America and several fintechs offer the service as a point of difference to rivals. 

Revolut, CloudPay and Openwage offer on-demand models to clients looking to attract and maintain workers. A UK fintech called PayUp is also launching offering a similar-type product. 

The funding round, which is made up of debt and equity, was led by investment firm JR Holding. Flexee says the new funding will be used to enhance its technology development and boost its European expansion plans.” 

 

2. International – FinTech 


Finextra reports:

 

“Point, a US outfit that provides homeowners access to equity financing in exchange for a fractional share of the future value of their property, has secured $115 million in a Series C round led by WestCap. 

Andreessen Horowitz, Ribbit Capital, Redwood Trust, Atalaya Capital Management, DAG Ventures, Deer Park Road Management, The Palisades Group, and Alpaca VC joined the round.

Point's home equity platform lets homeowners unlock up to $500,000 with no monthly payments, no income requirements, and no need for perfect credit. In exchange, they share a piece of their future home price appreciation with investors.

The firm says that Q1 2022 funding volume was up more than five times year-on-year and has also announced $1 billion in new capital commitments from real estate and mortgage-backed securities investors.” 

3. International – FinTech 

 

The Fintech Times reports: 

 

 

“Plaid, a global open finance data network and payments platform, has announced an expansion of its Payment Partner Ecosystem to include three new European partnerships – Primer, UniPaas and NoFrixion. As a result, more vendors and merchants can leverage open banking in order to improve operations and lower costs. 

Through these partnerships, Plaid embeds its open banking payments and account information services within partner companies’ respective payments platforms. With open banking capabilities embedded, merchants and vendors can offer account-to-account payments as an alternative payment method in their checkouts and streamline merchant and vendor onboarding or verification processes. 

These partnerships are a part of Plaid’s Payment Partner Ecosystem, which incorporates over 50 providers across North America and Europe and offers a range of tools and services used to build improved digital payment journeys. New partners include: 

  • Primer: a no-code automation platform for businesses that allows for the streamlined building of improved payments experiences. 
  • UniPaas: provides an embedded finance platform for B2B SaaS companies. 
  • NoFrixion: an EU-based programmable money API that replaces banks with software solutions. 

     

4. International - FinTech

Crowdfundinsider reports:

BlockQuake, a regulatory-driven crypto exchange, is offering zero-fee crypto trading for the first million purchasers of its native token QuakeCoin (QUAKE). 

BlockQuake says it is the first FinCEN registered crypto trading platform to offer no-fee trading. Individuals who qualify may trade up to $100,000 a year without being charged any fees for their lifetime. 

QuakeCoin is available now for purchase globally with the exception of the US and Canada. A minimum of just $100 USD is required to qualify. Proceeds will be utilized to grow BlockQuake’s ecosystem and will be used to finance BlockQuake’s entry into global markets. QuakeCoin purchasers will also have priority access to upcoming BlockQuake projects such as an NFT marketplace and metaverse collaborations.” 

 

5. US – FinTech 

 

Finextra reports: 

 

“The US Securities and Exchange Commission has nearly doubled the size of its crypto market and cyber enforcement unit, growing the team to 50 positions with the addition of 20 new staff. 

Since its creation in 2017, the unit has brought more than 80 enforcement actions related to fraudulent and unregistered crypto asset offerings and platforms, resulting in monetary relief totaling more than $2 billion.

"The US has the greatest capital markets because investors have faith in them, and as more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them," says SEC Chair Gary Gensler. "The Division of Enforcement’s Crypto Assets and Cyber Unit has successfully brought dozens of cases against those seeking to take advantage of investors in crypto markets. By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity."