May 6, 2020 @ 5:19 pm By JD Alois  |  

PayPal (NASDAQ:PYPL)  reported earnings today and according to the company after an initial dip, utilization and user growth is booming. In fact, PayPal says they are signing up around 250,000 customers a day as it becomes an “essential service.” 7.4 million customers were activated during… Read More

May 6, 2020 @ 4:43 pm By JD Alois  |  

CommonBond, an online lender in the student loan refi sector, has distributed an email claiming the year, so far, has met expectations. Of course, the note was distributed during an unparalleled time of stress for most businesses – including online lenders. According to CommonBond and… Read More

May 6, 2020 @ 2:07 pm By JD Alois  |  

The Libra Association, founded by Facebook to create a global payments cryptocurrency, has announced the selection of Stuart Levey as its first CEO. Levey will step into the leadership position from HSBC, a global bank with 235,000 employees across 64 countries. Levey is currently serving… Read More

May 6, 2020 @ 12:15 pm By JD Alois  |  

Payments Fintech Banked has secured another £2.35million in seed funding as it moves out of beta, according to a company release. Banked has now raised £5.35 in total funding with the latest investment led by Force Over Mass, with participation from Backed, Acrew Capital and… Read More

May 6, 2020 @ 10:12 am By JD Alois  |  

  Peer to peer lender Twino has announced a new social investment instrument engendered by the COVID-19 pandemic. The Riga based Fintech said the first social project will be in collaboration with Latvia’s Children’s Clinical University Hospital (CCUH), to facilitate convenient and safe remote consultations for… Read More

May 6, 2020 @ 8:34 am By JD Alois  |  

The newest COVID-19 support package created by the UK government appears to be a big hit with UK businesses. According to a post by HM Treasury, over 69,000 loans valued at more than £2 billion have been approved in just 24 hours. Bounce Back Loans… Read More

May 6, 2020 @ 8:20 am By JD Alois  |  

CoinSwitch, an aggregator of cryptocurrency exchanges, has announced the launch of a dedicated cryptocurrency exchange for India. The announcement follows recent changes in India that enabled crypto exchanges to have relationships with banks. India is, of course, a huge market with profound potential for growth…. Read More

May 6, 2020 @ 7:31 am By JD Alois  |  

The British Business Bank has announced nine new lenders for accredited under the Coronavirus Business Interruption Loan Scheme (CBILS), bringing the total number of CBILS lenders to over 60, according to a release. The new lenders include: Assetz Capital, Atom bank, Ebury, Fleximize, Investec, Social… Read More

May 5, 2020 @ 10:58 pm By JD Alois  |  

Yesterday, Crowdfund Insider reported on the Securities and Exchange Commission announcing “temporary final rule” streamlining Reg CF (or Regulation Crowdfunding).  In announcing the rule change, SEC Chairman Jay Clayton explained that the action responds to feedback the SEC has received from the Small Business Capital… Read More

May 5, 2020 @ 5:07 pm By JD Alois  |  

Digital asset lending platform BlockFi is recruiting more old finance veterans with the appointment of Wittney Rachlin as Chief Growth Officer and David Olsson as Global Managing Director of European and Asian markets. Zac Prince, CEO and co-founder of BlockFi, said crypto financial services are maturing… Read More

May 5, 2020 @ 4:44 pm By JD Alois  |  

LendingClub (NYSE: LC) is out with its first-quarter earnings report and the numbers are indicative of the problematic economy that has been crushed by the Coronavirus pandemic. LendingClub, the leading marketplace lender in the US, delivered numbers that showed a significant decline versus the same… Read More

May 5, 2020 @ 12:48 pm By JD Alois  |  

EstateGuru, an online marketplace for loans secured by property, has quickly topped its minimum crowdfunding hurdle on Seedrs. EstateGuru set a minimum raise of €350,000 but as of today, the Fintech has raised over €483,000 from 548 individual investors. EstateGuru is hoping to raise €2… Read More

May 5, 2020 @ 11:42 am By JD Alois  |  

  Mintos, a top marketplace for debt investors in Europe, has recently conducted research amongst their audience seeking to gain insight into the impact of the COVID-19 pandemic. According to Mintos, the majority of crowdlending investors (65%) remain optimistic even in light of the ongoing… Read More

May 5, 2020 @ 9:49 am By JD Alois  |  

Vereign AG, based in Zug, Switzerland, has closed on a financing round of CHF 2.5 million (~ $2.58M) to establish a Swiss network for a verified and self-managed identity service. The financing round was led by AquilaDirekt AG and a renowned Swiss entrepreneur through a… Read More

May 5, 2020 @ 8:28 am By JD Alois  |  

While more traditional financial services firms are regularly spoofed two emerging Hong Kong virtual banks have recently been targeted by scammers. Both ZA Bank and Airstar Bank have seen bogus sites posted online in an attempt to fleece unsuspecting consumers. This past weekend, Airstar posted… Read More

May 4, 2020 @ 2:43 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced that temporary rule changes regarding Reg CF (Regulation Crowdfunding) in light of the COVID-19 pandemic. According to a release, the SEC is following suggestions made by members of the SEC’s Small Business Capital Formation Advisory Committee. The… Read More

May 4, 2020 @ 12:15 pm By JD Alois  |  

OurCrowd portfolio company Kryon has announced a solution in collaboration with the Information Systems and Digital Division at Clalit Health Services, the largest health service organization in Israel. Kryon’s solution automates a critical process of uploading COVID-19 test results. In Israel, each lab is performing… Read More

May 4, 2020 @ 11:01 am By JD Alois  |  

Payments platform Paysafe is out with some research on changes in the shopping ecosystem during the COVID-19 pandemic and it should come as no surprise their numbers indicate e-commerce is booming. Paysafe processes about $85 billion annually in 40 different currencies. Surveying over 8,000 consumers… Read More

May 4, 2020 @ 8:19 am By JD Alois  |  

Bounce Back Loans, the new COVID-19 support programming targeting the smallest of firms is open for applications today with funds expected to be distributed within days. Information on the program is available now on the British Business Bank website. Also included on the British Business… Read More

May 4, 2020 @ 8:00 am By JD Alois  |  

Digital asset OTC broker, Digital RFQ (DRFQ) has selected Koine to act as custodian for its first commodity financing token, PGX. PGX, or PhiGold token, was launched in partnership with Atom Asset Exchange (AAX). The digital asset is a commodity financing token based on gold… Read More