Uncategorized

November 18, 2016 @ 3:35 pm By JD Alois  |  

The SEC Investor Advisory Committee (IAC) has set the date of its next meeting.  IAC will be meeting at SEC HQ on Thursday, December 8, 2016 from 9:30 a.m. until 3:00 p.m. (ET). The meeting is open to the public and will be Live-streamed on the… Read More

November 15, 2016 @ 8:47 am By JD Alois  |  

Outgoing SEC Chair Mary Jo White will be testifying today (November 15, 2016) before the House Financial Services Committee. White announced her intent to depart the Commission at the end of the Obama’s administration yesterday (November 14th).  The somewhat routine hearing is entitled; “Examining the… Read More

October 17, 2016 @ 3:19 pm By Erin Hobey  |  

Adam Felesky and Paul Desmarais III today announced the closing of a new fund, Portag3 Ventures (“Portag3”), focused on the fintech sector. Felesky, a co-founder and former CEO of Horizons ETFs, has been named President and will run day-to-day operations at the fund. Paul Desmarais III,… Read More

October 13, 2016 @ 5:11 am By Erin Hobey  |  

Greater Hudson Bank (OTCQX: GHDS) has partnered with Sageworks, a financial information company that provides lending, credit risk and portfolio risk solutions to banks and credit unions, to provide an online loan application allowing commercial borrowers to complete applications electronically, according to a release. The Sageworks Online Loan Application is… Read More

October 11, 2016 @ 12:52 pm By JD Alois  |  

The Consumer and Financial Protection Bureau (CFPB) has been labeled “unconstitutional” by a federal appeals court.  The ruling addressed specifically the agency’s structure and the amount of control exercised by its director – currently Richard Cordray.  The ruling allows for the CFPB to continue to… Read More

October 5, 2016 @ 4:38 pm By JD Alois  |  

According to multiple reports, Prosper is shutting down secondary trading for it’s loans eliminating a liquidity path for retail investors. The justification was stated as lack of demand. Bloomberg reported that Sarah Cain, a Prosper spokesperson, explained the decision as one driven by utilization; “While… Read More

October 4, 2016 @ 5:34 am By Erin Hobey  |  

Auckland-based celebrity chef Robert Oliver launched a PledgeMe campaign to equity crowdfund his Pacific-styled fine dining restaurant in Auckland. KP Auckland Limited is seeking to raise between $450,000 and $600,000 which represents 42.9%–50% of the company. Shares are $1 each with a minimum investment of $500…. Read More

September 15, 2016 @ 8:34 am By Erin Hobey  |  

In just a few days since launching, the UK independent film produced by ItchyFishFilm has secured over £342,000 toward its £640,000 goal to support production for the film. £305,000 has been fronted by the film’s lead investor group Ken Anderson, Chairman of Bolton Wanderers FC; ItchyFishFilm will seek… Read More

September 13, 2016 @ 5:17 am By Erin Hobey  |  

British Business Bank Investments Ltd, the commercial arm of the British Business Bank, today announced an £18M investment in Blackburn and Manchester-based Praetura Asset Finance. The investment, comprising £15M of matched funding and an additional £3m of expansion capital, will support at least £36M of smaller… Read More

September 9, 2016 @ 6:10 pm By JD Alois  |  

“It is hardly possible to overrate the value…of placing human beings in contact with persons dissimilar to themselves, and with modes of thought and action unlike those with which they are familiar…such communication has always been…one of the primary sources of progress.” –John Stuart Mill… Read More

August 25, 2016 @ 12:21 pm By Erin Hobey  |  

Fundation has secured $100 million credit from Goldman Sachs, reported the WSJ. The cash flow will enable the “credit solutions provider” to expand recent partnerships with traditional banks, such as Regions Financial Corp. and a network of community banks, and to extend loans to the banks’ business customers.  Paying a… Read More

August 11, 2016 @ 10:38 am By Erin Hobey  |  

India-based P2P lending platform Faircent has raised $1.5 million from Brand Capital, the investment arm of the media conglomerate Bennett Coleman and Co, according to The Economic Times. “The investment proves and strengthens our brand conviction towards disrupting credit in India,”  Faircent CEO Rajat Gandhi told the Economic Times. “Our… Read More

July 13, 2016 @ 2:01 pm By JD Alois  |  

At a Congressional hearing yesterday on Marketplace Lending that was described as being “educational”, Rob Nichols, of the American Bankers Association,  presented testimony and answered questions along with several other individuals engaged in finance. While the topic was  ostensibly “Fintech”, a better label may have… Read More

July 5, 2016 @ 8:39 am By JD Alois  |  

SyndicateRoom offers retail investors chance to take part in Fitbug’s £2.6m fundraise AIM-listed company Fitbug, a “digital wellness pioneer”, will be raising capital via equity crowdfunding platform SyndicateRoom. The move by Fitbug, founded in 2005, is part of a strategic turnaround effort initiated by CEO Anna… Read More

July 3, 2016 @ 3:57 pm By JD Alois  |  

Title III of the JOBS Act, or Reg CF, kicked off on May 16th of this year. The final portion of the JOBS Act to receive final rules by the SEC, Reg CF was perhaps the most heralded aspect of the legislation. Under the securities… Read More

June 9, 2016 @ 4:43 pm By Erin Hobey  |  

Spotfund, a mobile micro-donation platform, today launched its iOS app. Targeting millennials, Brooklyn-based Spotfund allows users to fund causes and current events with only $1, $2 or $3.  Donations made through Spotfund are tax deductible. At the end of each monthly billing cycle, Spotfund provides an itemized receipt of all… Read More

May 25, 2016 @ 11:45 am By Samantha Hurst  |  

On Tuesday, tech company Pebble once again returned to crowdfunding giant Kickstarter for 3 new products Pebble 2, Time 2 and Pebble Core. Within 24 hours, the new campaign not only smashed its initial $1 million goal, it has already surpassed $6.7 million from nearly 36,000 backers. Last year, Pebble… Read More

May 23, 2016 @ 10:49 pm By JD Alois  |  

Most people understand that rewards based crowdfunding platforms can be an effective tool to test a new product or service. If it is a hit in presales, it bodes well for a larger market roll out. The same can be said for Chinese companies seeking… Read More

May 23, 2016 @ 8:49 am By Samantha Hurst  |  

With only seven days left until its Crowdcube campaign comes to an end, UK fitness brand, énergie Fitness has successfully secured its initial £500,000 funding goal. énergie, which has three brands of fitness clubs in 93 locations across 5 countries, currently has over 110,000 club members and is looking expand to… Read More

April 14, 2016 @ 8:35 am By Samantha Hurst  |  

With less than two weeks until Billy Franks’ crowdfunding campaign on Crowdcube comes to an end, it was revealed that former Virgin Galactic president, Will Whitehorn has backed the artisan jerky company’s initiative. The company, which Mail on Sunday Magazine named “The Aston Martin of Jerky,” is… Read More