May 16, 2017 @ 4:34 pm By JD Alois  |  

One of the most challenging problems with perk-based crowdfunding is that too frequently project creators fail to deliver. While outright fraud may be rare, projects that don’t deliver or over-promise and under-deliver is commonplace. This has undermined the entire ecosystem as backers have become wary… Read More

May 16, 2017 @ 3:18 pm By JD Alois  |  

OpenInvest has received $3.25 million in Seed funding led by high profile VC Andreessen Horowitz. The Fintech firm also received funding from Abstract Ventures, Wireframe Ventures and SV2. OpenInvest is described as “social impact investing platform” targeting retail investors. The Robo-advisor enables investors to align… Read More

May 16, 2017 @ 1:03 pm By JD Alois  |  

There has been much discussion about the potential of investment crowdfunding to empower women and minorities. Occasionally we receive data or research that shares encouraging information that underserved communities are benefiting by newfound sources of capital. Recently, I saw a datapoint on Crowdcube, the largest… Read More

May 16, 2017 @ 10:36 am By JD Alois  |  

Doug Ellenoff is one of the most recognizable names in the crowdfunding space. A founding partner of the Manhattan law firm of Ellenoff, Grossman and Schole, LLP, he has spent the last few years acting as a JOBS Act champion and crowdfunding advocate both publicly… Read More

May 16, 2017 @ 9:54 am By JD Alois  |  

Wefunder has sent a letter addressed to the Securities and Exchange Commission (SEC). On the anniversary of the launch of Title III of the JOBS Act, or Regulation Crowdfunding (Reg CF), Nicholas Tommarello, co-founder and CEO of Wefunder, has taken a moment to reflect on… Read More

May 16, 2017 @ 8:54 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced the 2nd edition of the Singapore FinTech Festival, to be held in Singapore from 13 to 17 November 2017. The event is organized in partnership with The Association of Banks in Singapore (ABS) and in collaboration with SingEx… Read More

May 16, 2017 @ 8:33 am By JD Alois  |  

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has announced the appointment of Steve Allocca as President of the online lending company. Allocca will start at LendingClub on May 22, 2017 and will report directly to LendingClub CEO Scott Sanborn. Allocca will… Read More

May 16, 2017 @ 7:49 am By JD Alois  |  

NextGen Crowdfunding, a platform that helps people explore new types of crowdfunding, has announced a webinar special celebrating the one year anniversary since Title III regulations took effect in May 2016. The webinar will take place today (May 16, 2017) at 1PM PT / 4PM ET…. Read More

May 16, 2017 @ 7:38 am By JD Alois  |  

Peer to peer property lender Lendy has surpassed £310 million in originations with £50 million coming in last 100 days. The P2P lender states that investors and developers are responding to post-Brexit slowdown in bank lending.  Lendy adds that quick turnaround, security and low Loan… Read More

May 15, 2017 @ 4:25 pm By JD Alois  |  

Sondors Electric Car company raised $1 million on StartEngine using Reg CF at the end of 2016. The company is back on StartEngine now with a smaller funding round but buried within the Offering Memorandum was the statement that  Sondors apparently intends on using both Reg… Read More

May 15, 2017 @ 3:00 pm By JD Alois  |  

As we reported last week, Maria T. Vullo, the Superintendent of the New York State Department of Financial Services, filed a lawsuit against the Office of the Comptroller of the Currency (OCC), and Keith Noreika, acting Comptroller. The complaint pertains to the OCC”s Fintech Charter…. Read More

May 15, 2017 @ 12:51 pm By JD Alois  |  

SoFi Chief Operating Officer Joanne Bradford was back visiting with CNBC today. Bradford addressed several topics including the recent cyber attack that has public and private entities running for cover around the world. SoFi has not been impacted by the digital attack and Bradford was… Read More

May 15, 2017 @ 10:00 am By JD Alois  |  

AlphaFlow, an online real estate investment management platform, has appointed AdaPia d’Errico as Chief Operating Officer. The new hire was said to be part of an initiative to scale the investor platform and expand AlphaFlow’s channels. d’Errico has been well-known in the real estate crowdfunding… Read More

May 15, 2017 @ 9:03 am By JD Alois  |  

Fidor, a digital bank and Fintech solutions provider, has appointed Brad Whittfield as Global Chief Financial Officer. This is a newly created role within the Fidor Group and will be based in Dubai, UAE – Fidor Solutions’ central hub for its global expansion. Whittfield is… Read More

May 15, 2017 @ 8:52 am By JD Alois  |  

Razoo, a crowdfunding platform for charitable giving, has announced that its management has successfully concluded a buyout of the business from global investment firm and founder of Razoo, the Legatum Group. Razoo was founded in 2006 and has since enabled $550 million in donations globally…. Read More

May 15, 2017 @ 7:58 am By JD Alois  |  

The Toronto Financial Services Alliance (TFSA) says Canada’s financial service relevance is at risk unless the Fintech ecosystem is improved. According to the TFSA, the situation is an imperative if the country wants to grow the region’s market position. TFSA has published a report specifically… Read More

May 15, 2017 @ 7:31 am By JD Alois  |  

Mitsubishi UFJ Financial Group, Inc. (MUFG) has announced a “functional realignment” of its group subsidiaries. The realignment includes a name change from The Bank of Tokyo-Mitsubishi UFJ, Ltd to MUFG Bank, Ltd. (subject to regulatory approval).  The company said they had two aims: adapting to domestic… Read More

May 15, 2017 @ 7:16 am By JD Alois  |  

FinTech Australia has released the list of finalists for the inaugural Australian Fintech Awards or “Finnie Awards”.  There are 60 finalists selected from 158 entries competing in 30 different categories. A total of 39 judges, including 16 from overseas, rated the different award entries to… Read More

May 14, 2017 @ 11:18 pm By JD Alois  |  

Launched in 2015 with the personal approval from the Chinese President Xi Jinping, Silk Ventures is on a mission is to build the most advanced New ‘Silk Road’ for technology companies seeking to expand to China and for Chinese companies seeking to ‘go global’.  The… Read More

May 14, 2017 @ 11:02 pm By JD Alois  |  

MarketInvoice, a UK based invoice financing platform, has received a £45 million lending commitment from Portuguese bank BNI Europa. “We are proactively working with Fintech businesses globally that prescribe to our vision of providing low-cost, innovative products with exceptional customer service. MarketInvoice has consistently delivered… Read More