JD Alois

Financial Services Innovation Act of 2016 (Deck)

App Money iPhone

Congressman Patrick McHenry announced new legislation this week created to improve financial innovation in the US. Unlike some other countries, financial service firms are mandated to follow rules enforced by a litany of government agencies.  Dealing with the maze of bureaucrats is not easy for… Read More

Here is the Legislation Designed to Improve Fintech Innovation in the US

Patrick McHenry 2

Yesterday Crowdfund Insider wrote about forthcoming legislation from Congressman Patrick McHenry that is designed to enhance Fintech innovation in the US. Today we have a copy of the draft bill, embedded below. The 18 page document entitled the Financial Services Innovation Act of 2016 is… Read More

China P2P IPO: Lufax Preps for Hong Kong Listing

Greg Gibb Lufax

Lufax, one of China’s largest peer to peer lending platforms, is preparing for its long-awaited IPO. This is according to a report in Reuters that stated the IPO could raise $5 billion. At the last funding round, Lufax captured a valuation topping $18 billion.  China… Read More

Here is the Fed Report on Online Lending for Small Businesses; “Through the Eyes of Mom & Pop’s”

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Every now and then the Federal Reserve kicks out some interesting research regarding Fintech and alternative finance. During the waning days of summer, the Federal Reserve of Cleveland published a report on online lending entitled; “Alternative Lending Through the Eyes of Mom & Pop Small… Read More

Manchester Based Invoice Financing Firm Due Course Raises £6.25 Million

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Two-year-old online lender DueCourse has raised £6.25 million with the participation Alex Chesterman, Simon Franks and Rocket Internet affiliated GFC. The Manchester Evening News said DueCourse was queuing up to raise an additional £10 to £15 million in a Series A funding round at some point in… Read More

Congressman McHenry Introduce Bill to Create Financial Services Innovation Offices to Boost Fintech Growth

Patrick McHenry 3

Congressman Patrick McHenry, the Chief Deputy Whip of the House, has introduced new legislation designed to boost Fintech innovation in the US. Today, the US may be the financial center of the world but in some respects, the country is slipping behind when it comes… Read More

Report: Fintech Collaboration is Key for Investment Banks

UK Fintech Money iPhone

EY, in collaboration with Innovate Finance, has published a report on the need for investment banks to collaborate with Fintech firms and embrace innovation.  Entitled Capital Markets: Innovation and the Fintech Landscape, the authors state that while Fintech may have started with P2P lending, equity… Read More

New £40M Fund Made Available for Small Business

margot-james

As part of the ongoing policy initiative to keep the UK economy chugging along, Margo James, the Small Business Minister, announced the creation of a  the British Business Bank’s 21st Enterprise Capital Fund, to be run by Active PE. The fund is aimed at helping… Read More

Standard Chartered & SuperCharger Accelerator Invite Global Fintech Firms to Apply

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Standard Chartered Bank and Supercharger, a Hong Kong-based accelerator, have opened up applications for global Fintech firms to participate in the  “SuperCharger FinTech Accelerator 2.0”, a 12-week innovation programme aimed at helping promising FinTech companies grow their footprint in Asia. The very first round saw 160… Read More

OurCrowd Equity Crowdfunding Numbers (Infographic)

Jon Medved

Global investment crowdfunding platform OurCrowd has just announced raising $72 million in a Series C funding round. Alongside this announcement, OurCrowd has provided an infographic with some data points for the platform.  OurCrowd, based in Jerusalem, has taken a decidedly international approach to uncovering opportunities… Read More

Fintech Firm Lemonade Launches to Challenge Established Insurance Firms

Lemonade Insurance

The much anticipated Fintech firm Lemonade has officially launched in the state of New York. Lemonade has positioned its platform in a David vs. Goliath battle to challenge antediluvian insurance incumbents by providing a far better service at a superior price. Lemonade has been licensed… Read More

National Crowdfunding Association of Canada Criticizes Integrated Crowdfunding Exemption in Letter to Alberta Securities Commission

Canada Flag

The National Crowdfunding Association of Canada (NCFA), has criticized Canada’s regulatory approach to crowdfunding in a public letter sent to the Alberta Securities Commission and Superintendent of Securities, Nunavut.  While the letter is addressed to the two entities it can be viewed as a proxy… Read More

Sondors eBike Creator Poised to Sell Shares for Electric Car Company

storm sondors thumbs up

Sondors eBike creator Storm Sondors has filed a Form-C with the Securities and Exchange Commission (SEC) to raise capital for the Sondors Electric Car Company, a business created with the purpose of designing and developing an electric car labeled the “Model Sondors”. The filing states the… Read More

Big Fine: CFO Lending Provides £34 Million Redress for Unfair Lending Practices with FCA Agreement

Red Card Penalty Fine Infraction

The Financial Conduct Authority (FCA) has slapped down CFO Lending, a payday loan firm, for unfair lending practices.  CFO Lending also operated as Payday First, Flexible First, Money Resolve, Paycfo, Payday Advance and Payday Credit. According to the FCA, CFO Lending will provide over £34… Read More

Revenue Up 46% at RateSetter. Pre-Tax Loss Stands at £4.9 Million

Rhydian Lewis

RateSetter has released its accounts for 2015 – 2016.  According to their financial results, top line revenue increased 46% to £18.5 million from £12.6 million versus prior period. The increase in revenue was paired with a pre-tax loss of £4.9 million compared to a pre-tax… Read More