Tagged: digital lender

India: DMI Group Acquires Goldman Sachs-backed BNPL Firm ZestMoney

India-based financial services platform DMI Group has announced its acquisition of the Goldman Sachs-backed ‘buy now pay later’ (BNPL) platform ZestMoney. This comes after the Bengaluru-based ZestMoney ceased operations following unsuccessful attempts to revive its business amid regulatory uncertainties. DMI, having raised over $1.5 billion… 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

Australia’s Digital Lender MONEYME Returns to Statutory Profits

Digital lender MONEYME (ASX:MME) has just released a trading update announcing it has returned to statutory profits “ahead of target, making it potentially the first fintech in Australia to return to profitability following recent challenging market conditions.” MONEYME has “delivered >$8m NPAT and record revenue… Read More

Digital Lender and Non-Bank Challenger MONEYME Introduces Credit Score

Digital lender and non-bank challenger MONEYME (ASX: MME) has officially launched a new credit score product that has already “seen over 37,000 new customers swarming to discover their score during a Beta Trial, despite zero marketing of the product so far.” The MONEYME Credit Score… Read More

MONEYME Exceeds $3B in Originations, Shareholders Vote Yes to B Corp

Digital lender and non-bank challenger MONEYME Limited (ASX: MME) has surpassed $3 billion in originations since inception, “after 4x growth in FY22 driven primarily by the success of its auto finance product Autopay.” This includes the $1.1 billion in originations by SocietyOne “prior to the… Read More

Online Lender October Is Expecting its Lenders’ Returns to be Impacted Negatively due to COVID-19 Crisis

Marc Sebag, the Chief Risk Officer at October, a top European online lender, had answered important questions last year (in June 2019) about defaults and the continuous improvements that the platform makes to its scoring model. The October team acknowledges that the COVID-19 outbreak has… Read More

TrueLayer Secures $25 Million Through Series C Investment Round

UK financial API provider TrueLayer announced on Monday it secured $25 million through its Series C funding round. TrueLayer revealed that the investment takes the total amount it has raised to $72 million. Founded in 2016, TrueLayer describes itself as a technology company that provides… Read More

Fintech Lenders in India are Trying to Implement RBI’s One-Time Loan Restructuring Scheme

Fintech lenders in India are reportedly looking for ways to implement the Reserve Bank of India’s (RBI) loan restructuring scheme. Non-bank Indian companies and online lending platforms are trying to rework their loan collection and overall business strategies, according to the ET, which cited sources… Read More

Asian Fintech GoBear Reportedly Lays Off 22 Employees, after Securing $17 Million in Capital in May 2020

Asian Fintech firm GoBear, which secured $17 million in capital in May 2020 to expand operations, has reportedly decided to lay off 22 staff members – which includes 6 workers based in Singapore. GoBear’s management has also laid off employees based in Ukraine, Vietnam, and… Read More

UK Digital Lender Selina Finance Re-Launches Business Loan Proposition With Extended 10-Year Term

  Selina Finance, a UK-based online lender that provides secured home equity loans at competitive rates, announced on Wednesday it has relaunched its business loan proposition by doubling its maximum loan term to 10 years. This news comes less than a month after Selina Finance… Read More

European Marketplace Lender October Reports a “Record Month,” 55 Projects Received Funding During July 2020

October, a leading European online lender, reveals that it was definitely not “idle” during the month of July 2020, despite the challenges created by the global COVID-19 outbreak and the resulting economic uncertainty. October claims that July 2020 was a record month, during which 55… Read More

Real Money Management Professional Laura Whateley from Zopa Recommends Repaying Towards Debts As Soon As Possible

Laura Whateley, a real money management correspondent at Zopa, a Fintech lender and digital bank, notes that at the beginning of the COVID-19 pandemic, it wasn’t really clear how our finances would be affected, and that might still be the case for many individuals and… Read More

European Online Lender October has Now Closed Financing for its 100th Spanish Company

October, a leading European online lender, notes that it was launched after the global financial crisis of 2008-2009 with the goal of providing more financing options or alternatives to European SMEs. The October team wrote in a blog post published on July 1, 2020: “We… Read More

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