Saturday, January 28, 2023

AvantCredit get thumbs up from UK regulator

AvantCredit is getting the green light from UK regulators with the FCA now fully authorising the online lender. Read more:

Float grabs $3m for millennial credit lending

Credit line lender Float has raised $3m in what it’s calling an angel round from investors include Camp One Ventures, Funders Club and 500 Startups. Read more:

FinTech charter should be paired with borrower protections

New FinTech competitors have challenged traditional banks with innovative, customer-friendly online applications and quick loan decisions. Read more:

China’s strict rules for P2P lenders hit Yirendai’s stock 

China’s P2P lending market is finally getting a little oversight, but Yirendai’s investors aren’t sanguine about it. Read more:

Funding Circle gets an extra £40m from UK gov to lend

Funding Circle is expanding its partnership with the government-run British Business Bank Investments and receiving £40m to lend to small businesses. Read more:

Relendex reaches milestone with full FCA authorisation

Relendex has reached a significant milestone with full authorisation from the Financial Conduct Authority. Read more:

South Korean insurer buys 4.1% stake in Lending Club for $66m

South Korea’s Hanwha Life Insurance has acquired a 4.1% stake in troubled peer-to-peer lending firm Lending Club. Read more:

Commerzbank plans job cuts and digitalisation to boost profits

Commerzbank is the latest lender turning to mass job cuts and digitalisation in a bid to boost profitability. Read more:

4thWay predicts a 50% growth in the UK P2P lending market

According to 4thWay's numbers, UK market lending will deliver another “record year”, with a total of £3.02 billion facilitated via 35 various platforms. Read more:

Startup investment platform CircleUP looks for $100m

Investment platform for small consumer brands CircleUp is planning to raise $100m, according to an SEC filing. Read more: