Tagged: financing

Fintech Lender Sonovate Surpasses £3.5B in Funding to Support Businesses

Fintech lender Sonovate has surpassed £3.5bn in total funding and £1 billion in annual funding for the first time “as rising costs force businesses to seek finance to manage cashflow and drive growth.” During 2022, Sonovate reportedly “provided businesses with £1.1 billion in finance, a… Read More

UK Fintech Carmoola Raises £103.5M to “Transform” How Consumers Pay For a Car

UK car finance fintech Carmoola has raised a £8.5 million Series A round and £95 million debt facility to improve “the way people pay for car purchases.” The investment round was “led by US-based fintech specialists QED Investors, with participation from existing investors VentureFriends and… Read More

Funding Circle, Sage to Streamline Financing for Small Businesses

Funding Circle (LSE:FCH) has announced a partnership with Sage, a firm focused on accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs). The collaboration “makes it simpler for small businesses to secure funding.” With the incorporation of Sage Accounting and Funding Circle’s… Read More

High Street Banks Cut Lending to SMEs as Demand for Finance Grows: iwoca Report

Demand for finance from the UK’s 5.5m small and medium-sized businesses1 is on the rise at the same time as banks are “reducing their lending appetite,” according to iwoca’s latest SME Expert Index. More than eight in ten SME finance brokers (82%) agree “that major… Read More

PeerBerry Investors Fund €52.44M of Loans, Received €734,689 in Interest Last Month

In January, PeerBerry investors funded EUR 52.44 million of loans and received EUR 734 689 in interest. 1495 new investors joined the platform last month, the team at PeerBerry reveals. The average annual ROI (without loyalty interest) on PeerBerry in January “was 11.11%.” At the… Read More

October Committed to Supporting Qonto on its Platform Dedicated to Financing Needs of French SMEs

October has been providing financing to Qonto, Europe’s financial management company, for almost two years now. Integrated directly via API with the Qonto platform, October “analyzes customer requests in a few clicks to provide them with an instant loan offer.” With over 40,000 active retail… Read More

Saudi Central Bank (SAMA) Announces Licensing of Finance Firms Focused on Debt-based Crowdfunding

The Saudi Central Bank (SAMA) announced the licensing of two finance companies that are “specialized in debt-based crowdfunding, namely: Forus and Tameed.” The licenses were “granted to the companies after successful testing of their solutions in SAMA’s Regulatory Sandbox; an experimental environment dedicated to innovative… Read More

Small Business Lending Platform Launched by Sunflower Bank with Assistance from Smartbiz

Sunflower Bank, N.A. announced the launch of a new small business lending platform in partnership with SmartBiz, the AI-powered small business financing platform. Through a new end-to-end online portal, small businesses in Sunflower Bank, N.A.’s branch footprint now “have access to a streamlined process to… Read More

Malaysia: Maybank, Perodua to Enhance Dealers’ Digital Financial Services via Maybank2e Platform

Maybank and Perodua Sdn Bhd recently signed a Memorandum of Collaboration (MoC) on providing seamless end to end integrated digital financial services for Perodua via Maybank’s M2e platform as well as offering additional financial support via financing packages worth close to RM400 million to help… Read More

Kiavi Closes $158M Revolving Securitization of Residential Transition Loans

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Kiavi, a provider of financing to real estate investors (REIs), announced it closed an approximately $158 million, 12-month-term revolving securitization of unrated residential transition loans (RTL). This is the eleventh broadly syndicated securitization transaction by Kiavi “under its LHOME shelf since it began its securitization… Read More

40Seas, a Fintech Platform for Modernizing Cross-Border Trade Financing, Secures Funding

40Seas, a Fintech platform for cross-border trade financing, has raised $111 million to deliver a much more efficient and cost-effective financing framework for SMEs involved in global commerce. The company’s $11 million seed funding round, “led by Team8 with participation from ZIM Integrated Shipping Services… Read More

Investment Platform PeerBerry Reports that Investors Funded €537.5M of Loans Last Year

In 2022, PeerBerry investors “funded EUR 537.5 million in loans.” In total, during the entire period of PeerBerry’s activity (within 5 years of the platform’s operation), PeerBerry’s investors “funded EUR 1.5 billion in loans.” According to the monthly volume of funded loans, PeerBerry claims it… Read More

Bridge Rounds on the Rise as VC Market Slows, Carta Report Reveals

As this year’s slowdown in venture capital continued through Q3, VCs increasingly used bridge rounds “to keep their portfolio companies afloat—or to position them for a stronger rebound when dealmaking picks up,” according to an update from Carta. Bridge rounds are “unpriced financing rounds that… Read More

Fintech MODIFI Survey Reveals that Most Exporters Have Challenges with Cashflow, Unable to Easily Acquire Financing

About 84% of exporters know about invoice factoring as it’s “one of the most common facilities offered by a trade finance company,” according to an update shared with CI. When exporters think about financing their business, “the two most common terms that come to mind… Read More

Saudi Central Bank (SAMA) Issues License to Manafa, a Finance Company

The Saudi Central Bank (SAMA) recently announced the licensing of Manafa – a finance company specialized in debt-based crowdfunding in the Kingdom. Manafa is “a closed joint-stock company with a capital of SAR 40 million.” The license was granted to the company “after a successful… Read More

Bpifrance Selects Thought Machine to Help Provide Financing to SMEs in France

Thought Machine, the cloud-native banking technology company, announced that Bpifrance, the French public investment bank, is “using Thought Machine’s cloud-native core banking platform, Vault Core.” Bpifrance claims it is “the first bank in France to deploy Thought Machine’s modern cloud-native core banking platform, using Vault… Read More

European Financing Platform Debitum Shares Audit Results of Business Operations

As a licensed platform, Debitum must regularly “conduct internal and external audits.” The latest external audit was performed by Grant Thornton International in October 2022. The subject of this audit was “to inspect how well are managed investors funds and to examine platforms’ procedures and… Read More

Nubank Announces Equity Capitalization of $330M, Raising 2022 Investment in Mexico to $1.3B

Nubank, which claims to be one of the world’s largest digital financial services platforms, announced an equity capitalization of $330 million, which will be “invested to finance the expansion of the company’s portfolio, increase penetration across market segments and strengthen its operations and long term… Read More

UK’s MarketFinance Pay Later Financing for SMBs Allows Sole Traders to Get Credit at Point of Sale

The wave of embedded finance options is starting to move this “proverbial ship” forward, as options available at MarketFinance through their pay later financing for small businesses mean that finally, sole traders can “get instant access to credit at the point of sale when procuring… Read More

Saudi Arabia: Financial Platform Ta3meed Selects Moneythor as Partner for its Loyalty Features

Ta3meed, which claims to be the “only” Purchase Orders (PO) financing platform in Saudi Arabia has selected Moneythor as a partner for its digital banking & loyalty management platform “to implement smart loyalty features in its innovative Islamic financing solution.” In line with Saudi Arabia’s… Read More

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