Tagged: coronavirus

Fintech Lenders: Boston’s Forward Financing has Now Provided $1B in SME Funding, as Capital On Tap Enters US Markets

Forward Financing, a Fintech firm that aims to offer “flexible” and revenue-based financing to SMBs, revealed recently that it has provided $1 billion in funding since its inception back in 2012. According to Forward Financing, the majority of this funding has been allocated towards  “underserved”… Read More

All Non-Essential UK Retail Businesses May Reopen from April 12, 2021, Funding Circle Confirms while Sharing Other Small Business Tips

Online lender Funding Circle (LSE:FCH) recently noted in blog to its small business customers what the roadmap out of the COVID-19 lockdown means for small businesses. On February 22, 2021, the UK government announced its “highly anticipated” four-phase roadmap out of the Coronavirus-related lockdown —… Read More

Open Banking related Services are Now Key Focus Area for Professional Bankers Globally: Report

Banking software firm Temenos (SIX: TEMN) has released a report, titled “Open Banking: Revolution or Evolution?”, which was authored by the Economist Intelligence Unit (EIU) and it’s also based on a survey of more than 300 senior banking professionals. The report revealed that almost half… Read More

Cash Usage Declined, Contactless Payments have Increased Considerably, According to Jodie Kelly from Electronic Transactions Association

The Coronavirus outbreak has led to a dramatic surge in demand for contactless payments options, which has accelerated the ongoing shift from cash transactions to safer digital payment methods. Jodie Kelley, CEO at Electronic Transactions Association, has noted that during the past 6 to 8… Read More

Buy Now Pay Later or BNPL Adoption on Track to Reach $7.3B in 2027 with APAC being the Fastest-Growing Region: Report

Buy Now, Pay Later or BNPL adoption is on track to grow significantly in the next few years with the Asia-Pacific region being one of the main drivers. A study performed by Coherent Market Insights reveals that the international BNPL market had been valued at… Read More

Online P2P Lender Blend Network Reports Strong Performance, Reveals it has Record Number of Lenders Active on Platform

Online peer-to-peer lender Blend Network notes that the UK was the world’s first country to authorize and begin administering the Pfizer/BioNTech vaccine on December 8, 2020. The vaccine had been on track to immunize 15 million individuals by February 15, 2020. The immunization efforts have… Read More

Fintech Unicorn Divvy, a Payment and Expense Management Platform, Reveals that Virtual Cards are Becoming Widely-Adopted

Divvy, a modern payment and expense management platform for businesses, which notably secured $165 million through its Series D funding round, notes that as businesses have started moving away from legacy spending methods such as ACH or paper checks, the virtual credit card has become… Read More

Biz2Credit Announces Support For Biden-Harris Administration’s PPP Changes to Promote More Equitable Access to Funding

  Biz2Credit announced earlier this week it supports Biden-Harris Administration’s changes to the Paycheck Protection Program (PPP). The company claims that the changes will promote more equitable access to funding for small businesses in need of funding during the COVID-19 pandemic. Biz2Credit further revealed it has… Read More

Fraudulent Activities via Online Platforms have Increased Significantly as More Transactions are Now Conducted via the Internet

The COVID-19 outbreak has forced individuals and businesses to adopt new working practices and move their operations online. This has led to a considerable increase in fraudulent activities being carried out via digital platforms, because many more transactions are now conducted online or via the… Read More

New Record for Lenders on October Platform: 5,672 Private Investors from France, Spain, Italy, the Netherlands lent to Sandaya Initiative

Camille David from European online lender October reveals that 5,672 private investors from all across Europe have reportedly financed the Sandaya project via the October platform – which is notably a new record. Claire Juliard, who leads October Connect, confirmed that this is in fact… Read More

Fintech and Healthcare focused Oak HC/FT to Allocate $1.4B in Fresh Capital to Support Innovative Projects

Oak HC/FT, which is focused on the future of Fintech and Healthcare, is launching the Oak HC/FT Fund IV as the organization continues its “pursuit of extraordinary opportunities.” Oak HC/FT notes that when looking back on an “exceptionally challenging” year due to the COVID-19 pandemic,… Read More

Global Fintech Investment Activity Recovered Strongly in H2 2020 after COVID-related Slowdown, $105B Raised via 2,861 Deals

Pulse of Fintech H2’20, a bi-annual report on international Fintech investment developments released by KPMG, notes that global Fintech funding across mergers-and-acquisitions (M&A), private equity (PE) and venture capital (VC) stood at $105 billion across 2,861 different deals in 2020. This was reportedly the third-highest… Read More

UK’s CBILS Scheme has Become Viable Investment Opportunity for Credit Funds and Specialty Lenders

An article from Global Capital notes that more securitizations of United Kingdom government-backed SME loans are being carried out in private. Last month, Funding Circle had reportedly finalized a deal with Sixth Street and Barclays. Since the UK’s Coronavirus Business Interruption Loan Scheme (CBILS) was… Read More

Chris Macklin from Assetz Capital Explains how P2P Lender Managed the Platform Loan Book During COVID-19 Pandemic

Chris Macklin, Chief Risk Officer at Assetz Capital, a peer-to-peer lender that originates secured loans, has provided a loan book update. As noted in a blog post by Assetz Capital, Macklin explained how the platform managed the loan book during the COVID-19 pandemic and shared… Read More

Startups Raised Record Dollar Amounts in Q4 2020 with Most Growth in Rounds Valued at $25 Million+, Carta Report Reveals

San Francisco-based Carta, a firm that helps private and public companies, investors, and employees manage equity and ownership, has published its private markets report for Q4 2020. Carta’s report, which was posted on February 17, 2021, notes that venture capital managed to close out 2020… Read More

Real Estate Investment Platform Fundrise Explains how Long-Term Net Return Is Most Appropriate Way to Measure their Performance for Investors

Fundrise, a real estate investment platform using Reg A+ to provide access to “eREITs and eFunds,” notes that it’s hard to imagine a single person or industry who may have been left untouched by the unprecedented events of 2020 (following the COVD-19 outbreak). Fundrise is… Read More

OnDeck Explains how Small Businesses in the US May Apply for First or Second Draw PPP Loans Now through March 31, 2021

OnDeck notes that the Small Business Administration (SBA) and US Treasury Department have resumed the Paycheck Protection Program (PPP) for First Draw Loans (on the week of January 11, 2021, and on January 13, 2021). OnDeck, which was acquired by Enova (NYSE:ENVA) last year, has… Read More

Fintech Industry in Israel Acquired Nearly 25% of Technology Sector Funding in Country, Driven by Speculative Valuations

  Record-breaking funding, massive initial public offerings and unprecedented valuations are all now a part of what may be described as the Fintech “gold rush.” From September of last year until January 2021, the Fintech industry in Israel acquired around $1.4 billion in funding, which… Read More

SME Lender October Confirms that French Government has Extended State-Guaranteed Loans Program to June 2021

European online lender October notes that in March 2020, the French State had announced a package of €300 billion in State-guaranteed loans (PGE) in order to support small and medium-sized enterprises during the COVID-19 pandemic. Following the amendment voted on in April 2020, lending marketplaces… Read More

30% of Americans Say COVID-19 has Negatively Affected their Financial Wellbeing, About the Same Number Blaming 2008 Housing Crisis: Survey

A recent SWNS research study has revealed that 40% of US-based consumers under the age of 40 are not optimistic that they’ll be able to succeed in achieving their financial goals. The study of 2,000 Americans (between the ages of 18–40) found that around 58%… Read More

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