SalaryFits picks up €1.25m to connect banks to payrolls
SalaryFit has raised €1.25m in its first round of funding from Portugal 2020. The company is headquartered in Brazil but is a part of London accelerator Level 39. Read more: www.fintechroundup.com
Challenger bank Revolut & Lending Works to provide instant credit
Revolut is a digital only challenger bank that does far more than a traditional bank at a lower cost. Read more: crowdfundinsider.com
Crowdfunding in the Netherlands grows by 33%
In 2016 a total of €170 million was raised through crowdfunding in the Netherlands. This sets a new all-time high for the crowdfunding market. Read more: www.crowdfundinsider.com
This was the year alternative investments went mainstream
Pensions are still one of the most tax-efficient investments out there. But they’re no longer as efficient as they used to be. Read more: www.cityam.com
FirstP2P nabs $70m, shows Chinese emphasis for investors
FirstP2P, a Chinese online peer-to-peer (P2P) financing site, has raised a $70 million Series C round led by existing investor CCB International. Read more: www.fintechroundup.com
Subprime lender Elevate lands $545m in credit from Victory Park
Subprime online lender Elevate has increased its credit facility with Victory Park Capital (VPC) by $100m to a total of $545m.
Some UK P2P lenders are buying each other’s loans
The FCA released a new report on regulation of P2P lenders and crowdfunding platforms on Friday suggesting tighter regulation amid concerns. Read more: uk.businessinsider.com
New FinTech removes intermediaries and loan costs
Zidisha lets web users lend directly to individual borrowers in developing countries without any intermediary. Read more: www.ibtimes.co.uk
RBI to regulate peer-to-peer lending
The RBI has proposed that peer-to-peer lending platforms would be regulated as a separate category of NBFCs. Read more: www.thehindubusinessline.com
HDFC Bank launches digital banking services for SME clients
The digital facility will do away with the need to call on a relationship manager or visit a branch, to transact or to get clearances. Read more: forbesindia.com