Tagged: digital lending

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

Online Lender October Financed 100 Projects during July and August 2020, On Track to Finance 1000th Project by Next Month

October, a leading European online lender, notes that in the past 5 years, it has issued over 450 million euros in loans to different companies. The marketplace lender reveals that 100 projects, or 10% of all projects that have received loans through its platform, were… Read More

India’s Consumer Lending Platform ZestMoney CEO Reveals Country’s Severe Lockdowns led to “Almost Complete Cessation” of Economic Activity

Lizzie Chapman, CEO and co-founder at ZestMoney, which claims to be one of the largest and fastest-growing Fintech firms in India, recently discussed what she considers the future of lending in a post COVID world. She acknowledges that this has been one of the most… Read More

US Online Lending Sector May Have Performed Better than Expected, with Many Borrowers Making Timely Repayments

The online or digital lending sector has been criticized for its inability to scale effectively or to be able to endure challenging environments like those created due to COVID-19. However, it now appears that overall credit quality, through online lenders, has performed better than some… 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

Around 55 to 75% of Loans Issued in India by 2025 Will be Through Digital Onboarding Processes, Fintech Exec Predicts

Online or digital onboarding for obtaining loans in India is expected to increase to 55-75% of the total credit disbursement by 2025, according to Akhil Handa, head of Fintech, partnerships and mobile banking and digital lending department, Bank of Baroda. Handa revealed that, between 2015… Read More

Cloud-Based Digital Lender Blue Sage Forms Partnership With Fintech FormFree

Blue Sage, a cloud-based digital lender for retail, wholesale and correspondent lenders, has formed a partnership with fintech FormFree to bring AccountChek automated asset verification service to the Blue Sage platform. According to the duo, this new integration makes it possible for borrowers to verify assets… 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

Brazilian Fintech SuperSim, which focuses on Microlending, Secures $5.6 Million via Debt Financing

Brazilian Fintech firm SuperSim, a microlending startup based in São Paulo, recently secured R$30 million (appr. $5.6 million) in capital through debt financing, so that it can improve the South American nation’s credit market. Latin American consumers and businesses have expressed concerns about how difficult… Read More

India’s Digital Lending Fintech RevFin Partners with EVI Technologies to Offer Financing to E-Rickshaw Users

RevFin, a digital lending Fintech startup, has teamed up with EVI Technologies in order to finance E-Rickshaw and E-Two wheelers in India. The funding will also go toward supporting swappable battery solutions offered by EVI Technologies. The initiative will mainly cover Indian states like Delhi-NCR,… Read More

Indian Fintech Sector Receives $1.47 Billion in Investments during H1 2020, 2,147 Fintechs Operating in Country as of June 2020

Approximately $1.47 billion was invested into businesses operating in the Fintech sector in India between January to June 2020, according to the latest MEDICI Report covering Indian financial technology markets. The amount invested into India’s Fintech industry during H1 2020 was 60% greater than the… Read More

U.S. Digital Lending Platform Roostify Announces Enhancement in Credit Services Product

Roostify, a U.S.-based digital lending platform, announced on Wednesday the enhancement of its Credit Services product. Roostify reported that through this new integrated service, the platform’s customers can select tri-merge, single bureau, soft and hard credit pulls directly from the Roostify’s site. “Integrated credit is… 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

Billionaire Tech Entrepreneur Sachin Bansal Claims his Indian Startup Navi Technologies has become a Leading Fintech Lender

Indian startup Navi Technologies, a company that aims to make financial services simple, affordable, and more accessible, has become one of the leading Fintech lending applications in the country in just a few months after its launch, according to Sachin Bansal, the company’s co-founder. Bansal,… Read More

India based Online Lenders U GRO Capital, SOLV, Instamojo, Sanjeevani Platform Continue to Issue Loans to SMEs during COVID-19

The Indian government has been asking local banks to work cooperatively with SMEs by providing much-needed liquidity during the COVID-19 crisis. Several local digital lenders and non-bank finance companies (NBFCs) will be offering credit solutions to Indian businesses. U GRO Capital, a Bombay Stock Exchange… Read More

Mumbai based Online Lender InCred Acquires Fintech Platform Qbera

Mumbai based online lender InCred has reportedly acquired Fintech platform Qbera. The acquisition has come as India struggles to cope with the COVID-19 outbreak and associated challenges. InCred and Qbera haven’t disclosed the amount paid for the transaction, however, sources claim the deal may be… Read More

Fintech Firms Must Properly Manage Cash Flow, as COVID-19 Is Making it Challenging to Assess Credit Risk, Monedo CEO Says

David Chan, CEO at Monedo (previously Kreditech), a point of sale (PoS) lender that claims to have more than one million customers who have reportedly received over 2 million loans (as of March 2020), says that the online lender has a global addressable market of… Read More

Celsius Network Surpasses $1 Billion in Cryptocurrency Deposits 

Celsius Network, a cryptocurrency lending and borrowing platform, recently announced it surpassed $1 billion in cryptocurrency deposits since its launch in 2018. This announcement comes just after Celsius announced it now has more than 110,000 active users using its platform.  As previously reported, Celsius claims… Read More

Indian Fintech U GRO Capital Partners Global Value Creation Partners to Offer Better Online Lending Services to SMEs

Indian Fintech U GRO Capital, an online lending platform for SMEs, has teamed up with Global Value Creation Partners (GVCP), in order to provide better financing services to small businesses. GVCP has appointed two expert advisors, Vincent Polizatto and William Haworth, to the U GRO… Read More

UK Fintech Lender Zopa to Reintroduce C Risk Band Loans into its Plus Product Offering

Fintech Zopa, the one platform to launch an entire sector of Fintech as it became the first peer to peer lending platform in the UK, recently reintroduced C risk loans back into its Plus product offering. Zopa, which still offers online lending in a more… Read More

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