1.UK – AltFi
Increasing numbers of small businesses are seeking personal guarantee insurance when taking out a loan, according to P2P Finance News.
“Purbeck Insurance Services said it has seen a 23 per cent boost in the number of personal guarantee protection policies sold in the first six months of 2019.
A personal guarantee is often a requirement for a business loan, particularly for small businesses, and is signed by the director or directors giving a guarantee that if the loan is not paid, their personal assets including their home can be used to settle the debt.”
2. US – FinTech
3. International – FinTech
“Innovesta — a women-led company known for optimizing investment decisions using objective and validated data — announced it raised $2.7 million after the latest funding round led by top investors from Israel and the USA. The company began after an initial $500,000 grant from the Innovation Authority funded by the Israeli government."
4. International – FinTech
“Australian neobank Xinja has obtained a banking licence from the Australian Prudential Regulation Authority (APRA) to foray into the country’s retail banking sector that is currently dominated by the “Four Big” lenders.
The APRA approval will allow the online-only banking firm to operate as an authorised deposit-taking institution (ADI) without restrictions under the Banking Act 1959.”