Tagged: online lending

UK’s ThinCats Reports Steady Increase in Lending Volume

UK’s ThinCats is reporting that lending is up more than 30% in 2023 to record levels. In total, ThinCats has now lent “more than £1.7bn to businesses across the UK while assets under management stand at £790 million.” Despite a challenging economic environment, ThinCats has… Read More

India: Central Bank Governor Asserts Digital Lending Rules Boost Investor Confidence in Fintech

Reserve Bank of India (RBI) Governor Shaktikanta Das refuted claims that new digital lending guidelines would hinder fintech growth, asserting instead that investor confidence in the sector has risen since their implementation. Speaking at the Mint BFSI conclave in Mumbai, Das highlighted the positive impact… Read More

UK’s P2P Lending Market Experienced Steady Growth in 2023 and It’s Set to Continue Expanding in 2024, Sourced Capital Claims

The UK peer-to-peer (P2P) lending market witnessed “rapid” growth in 2023 and is set to continue into 2024, according to an update from  Sourced Capital. Although the market is growing according to reports from certain industry participants, there are many platforms/firms that have exited the… Read More

Fintech Lending in India Is Becoming Widely Adopted Due to Increased Internet Penetration and Tech-Savvy Consumer Base, According to Industry Executive

As we enter 2024, Madhusudan Ekambaram, Co-founder and CEO at KreditBee, has shared insights on the Fintech-sector at large as well as his outlook for 2024. Madhusudan Ekambaram, Co-founder and CEO at KreditBee said that we “have seen a robust demand for credit in the… Read More

Sri Lanka Experiences Explosive Growth in Digital Lending, Report Says

Sri Lanka has seen an exponential increase in the use of online loan applications across the country, according to a report by online lender Robocash said. The user base for these digital lending services has seen a dramatic rise, skyrocketing from 10,600 in August 2021… Read More

European P2P Lending Market Is Expected to Continue Growing in 2024, Analysts at Robocash Claim

The European continental P2P lending market is “subject to localized randomness, especially in times of crises,” according to an update shared by Robocash. Robo.cash analysts studied “the exposure of the continental European P2P lending market to the randomization effect.” The analysis included 54 European platforms… Read More

Expansion Capital Group Tops $1 Billion in Financing for Smaller Firms

Expansion Capital Group, LLC (ECG) says it has topped $1 billion in financing for smaller firms. The US-based business was founded in 2013 and reports that to date, it has served 20,000 small businesses. Headquartered in Sioux Falls, SD the company is a “technology-driven specialty… Read More

SaveLend Announces New CFO

SaveLend Group AB has announced the appointment of Jenny Gabrielsson as its new Chief Financial Officer. She will replace Jonas Ahlberg, who will remain with the company, continuing as Deputy CEO. SaveLend offers a savings platform (SaveLend) and the billing platform Billecta. SaveLend offers peer-to-peer… Read More

France: Aria, a Payments Fintech, Raises €15 Million

Aria, a Fintech based in France that is a payments and credit platform, has raised €15 million in funding, according to a note from the company. 13books Capital led the funding round with the participation from Adevinta Ventures, Otium Capital, Ankaa Ventures, and individual investors,… Read More

Mumbai’s Ashv Finance Secures $10m in Funding to Boost Small Business Financing

Mumbai-based Non-Banking Financial Company (NBFC), Ashv Finance, part of the Aavishkaar Group, has announced raising $10 million in fresh funding from Encourage Capital. This round of funding marks a pivotal step for the company in expanding its services across India. Intellecap served as the exclusive… Read More

Kenya: Experts Criticize Digital Lenders Over high Interest Rates

Experts in Kenya have criticized digital lenders for charging high interest rates, often perceived as infringing consumer rights. Reportedly, the average interest rate for a 30-day digital loan ranges from 20-30% for online lenders, based on the borrower’s risk profile. For a Sh1,000 loan, the… Read More

A Decade of Peer to Peer Lending: Folk2Folk

  While many P2P lenders have fallen to the wayside or moved on to accepting only institutional funding, Folk2Folk perseveres with its original mission. Today, Folk2Folk claims the title of the UK’s largest peer-to-peer lending platform in terms of cumulative lending, having facilitated £653 million… Read More

Philippines: Payments Giant GCash Partners with Agritech Mayani to Bridge Agri-Credit Gap

Philippine-based fintech superapp GCash has teamed up with agritech startup Mayani to provide local farmers and fisherfolk with access to a financial platform that will support their needs, according to an announcement. The two tech players teamed-up with a joint mandate to create the Philippines’… Read More

Digital Lending in the Philippines Forecast to Hit $488.8m This Year

The digital lending market in the Philippines is poised for a significant expansion, with expectations to grow by 45.4%, reaching $488.8 million this year, from just $336 million a year earlier. This forecast, as per the latest report by PayNEXT360, a research and consulting firm… Read More

Flour Mill Cairnspring Mills Tops $1 Million in Just One Hour on Steward

Cairnspring Mills has raised over $1 million on Steward in just one hour, receiving the backing of 196 investors, according to a note from the platform. Cairnspring Mills went on to raise $2.8 million. Cairnspring Mills is a “craft flour mill” located in Washington’s Skagit… Read More

Lendable Adds Recurring Payments, Works with TrueLayer

Lendable has added recurring payments to its platform by leveraging the services of TrueLayer, according to a company statement. TrueLayer is an Open Banking provider and Lendable providers loans to consumers. TrueLayer said the new service was incorporated as Lendable leveraged its Account Information Services… Read More

Mantvydas Štareika, CEO of CapitalBox: Fintech Veteran Comments on Underbanking Crisis and Obstacles Faced by SMEs

We recently spoke with Mantvydas Štareika, the digital financial services professional and CEO of CapitalBox. This company, which Štareika joined in the last quarter of 2022, is one of the European fintech lenders that provides the EU’s startup ecosystem with timely, trusted, and specifically tailored… Read More

UK SMEs Claim to Have Good Understanding of AI but Significant Barriers to Adoption Still Exist – Report

New data from small business lender iwoca reveals that while more than half of SME owners (55%) feel they “have a good understanding of AI, the majority are nervous about how it will impact their business.” The new research of SME owners across the UK… Read More

Singapore: Credit Management Platform Lendela Raises $5m for Asia Expansion

Lendela, a Singapore-based digital loan matchmaker, has announced raising $5 million in funding anchored by Chocolate Ventures, a venture investment firm started by Singlife founder and former group CEO Walter de Oude. The Series A funding round was also backed by Lendela’s seed investor Cocoon… Read More

India: Fintech Lending to Surpass Traditional Banking by 2030, CAFRAL Says

Fintech lending is expected to surpass traditional banking by 2030, according to a recent report by the Centre for Advanced Financial Research and Learning (CAFRAL). The forecast by CAFRAL, an independent body established by the Reserve Bank of India (RBI) in 2011, underscores the profound… Read More

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