News Briefing - Crowdfunding, SME And Alternative Finance

many hands in a circle

1. UK – AltFi

The weekend FT looks at the weird world of investor finance.


But what about the retail investors? Those with money trapped inside the stricken Woodford Equity Income fund may well feel misled. But the industry will assert that no investment is without risk, the buy lists are only there for “guidance” and warnings about liquidity were buried in pages of terms and conditions. Similarly, investors in London Capital & Finance felt reassured by an online regulatory emblem which appeared to offer a degree of protection if things went wrong with the unregulated minibonds they were investing in. It didn’t — and the £236m they invested stands to be wiped out.

Better policing of the use of logos is welcome, but it will not bring their money back.

https://www.ft.com/content/14ee1258-d54a-11e9-a0bd-ab8ec6435630

2. UK – AltFi

Fintech firms raising money on equity crowdfunding platforms have netted £71m in 2019, with more than £126m total raised in the past 12 months, according to exclusive research conducted by AltFis 

In 2019 so far Seedrs and Crowdcube accounted for the vast majority of fintech crowdfunding with Seedrs taking the lead. It has seen 20 fintech deals funded in 2019, raising a total £51,843,295. 

Crowdcube meanwhile says it saw £18,817,795 raised in 2019 across 11 deals including Curve, Nutmeg, Money Dashboard, Freetrade, Hoptroff, Markets Flow, Genuine Impact, CoinMode Ablrate.com, Propio, Fingopay

Looking back over 12 months to the September 2019 the numbers are substantially higher thanks largely to Monzo's £20m bumper round in December from 36,006 investors in December 2018 via its app.sCrowdcube partnered with Monzo to execute the raise on their app but it did not appear on the Crowdcube platform.”

https://altfi.com/article/5740_altfi-insights-71m-raised-by-fintech-crowdfunding-in-2019-so-far

3. International – FinTech

Crowdfund Insider reports.

“The unexplained recent migration of almost a billion USD-pegged tether cryptocoins to the Ethereum network has caused 100 000 transactions to get “stuck” in processing there.”

https://www.crowdfundinsider.com/2019/09/151573-tethers-cause-traffic-jam-on-ethereum/

4. International – FinTech

French Minister of Economy and Finance Bruno Le Maire did not mince words. Libra should not be allowed in Europe, according to Crowdfundinisides. Later, on the same day, Bertrand Perez, the newly appointed managing director and COO of the Libra Association was asked to react to this public rejection. He appeared reasonably confident that the Libra could prove itself and change the Minister’s mind.ss

https://www.crowdfundinsider.com/2019/09/151585-french-minister-of-economy-says-no-to-libra-libra-associations-md-is-unfazed/s