Tagged: online lending

December 10, 2023 @ 3:33 pm By Michael Wong  |  

Experts in Kenya have criticized digital lenders for charging high interest rates, often perceived as infringing consumer rights. Reportedly, the average interest rate for a 30-day digital loan ranges from 20-30% for online lenders, based on the borrower’s risk profile. For a Sh1,000 loan, the… Read More

December 6, 2023 @ 10:30 am By JD Alois  |  

  While many P2P lenders have fallen to the wayside or moved on to accepting only institutional funding, Folk2Folk perseveres with its original mission. Today, Folk2Folk claims the title of the UK’s largest peer-to-peer lending platform in terms of cumulative lending, having facilitated £653 million… Read More

December 5, 2023 @ 7:17 pm By Michael Wong  |  

Philippine-based fintech superapp GCash has teamed up with agritech startup Mayani to provide local farmers and fisherfolk with access to a financial platform that will support their needs, according to an announcement. The two tech players teamed-up with a joint mandate to create the Philippines’… Read More

December 4, 2023 @ 6:01 pm By Michael Wong  |  

The digital lending market in the Philippines is poised for a significant expansion, with expectations to grow by 45.4%, reaching $488.8 million this year, from just $336 million a year earlier. This forecast, as per the latest report by PayNEXT360, a research and consulting firm… Read More

November 29, 2023 @ 8:14 am By JD Alois  |  

Cairnspring Mills has raised over $1 million on Steward in just one hour, receiving the backing of 196 investors, according to a note from the platform. Cairnspring Mills went on to raise $2.8 million. Cairnspring Mills is a “craft flour mill” located in Washington’s Skagit… Read More

November 28, 2023 @ 9:20 am By JD Alois  |  

Lendable has added recurring payments to its platform by leveraging the services of TrueLayer, according to a company statement. TrueLayer is an Open Banking provider and Lendable providers loans to consumers. TrueLayer said the new service was incorporated as Lendable leveraged its Account Information Services… Read More

November 27, 2023 @ 10:48 am By Omar Faridi  |  

We recently spoke with Mantvydas Štareika, the digital financial services professional and CEO of CapitalBox. This company, which Štareika joined in the last quarter of 2022, is one of the European fintech lenders that provides the EU’s startup ecosystem with timely, trusted, and specifically tailored… Read More

November 27, 2023 @ 7:32 am By Omar Faridi  |  

New data from small business lender iwoca reveals that while more than half of SME owners (55%) feel they “have a good understanding of AI, the majority are nervous about how it will impact their business.” The new research of SME owners across the UK… Read More

November 23, 2023 @ 8:35 pm By Michael Wong  |  

Lendela, a Singapore-based digital loan matchmaker, has announced raising $5 million in funding anchored by Chocolate Ventures, a venture investment firm started by Singlife founder and former group CEO Walter de Oude. The Series A funding round was also backed by Lendela’s seed investor Cocoon… Read More

November 18, 2023 @ 12:08 pm By Michael Wong  |  

Fintech lending is expected to surpass traditional banking by 2030, according to a recent report by the Centre for Advanced Financial Research and Learning (CAFRAL). The forecast by CAFRAL, an independent body established by the Reserve Bank of India (RBI) in 2011, underscores the profound… Read More

November 14, 2023 @ 7:19 am By Omar Faridi  |  

DelfinGroup released its unaudited Q3 2023 financial results, which “showed stable growth in all business segments in the third quarter of 2023.” DelfinGroup’s revenue reached €36.9 million “in the first 9 months of 2023.” The company’s earnings “before interest, taxes, depreciation, and amortization (EBITDA) increased… Read More

October 26, 2023 @ 12:01 pm By JD Alois  |  

multifi has received a commitment of £10 million from Fasanara Capital to support UK SMEs, according to a statement from the company. The digital lender says businesses may tap into credit of up to £200,000 with a fixed monthly access fee of 0.3% and an interest… Read More

October 23, 2023 @ 9:25 am By JD Alois  |  

Smart Lenders AM, a Paris-based investor in online loans, has announced a partnership with UK-based Ooodles, a financing firm for tech products. Erich Bonnet, Président of Smart Lenders, said that they are providing capital via their Lending Smart Fund 1, participating in the early financing… Read More

October 12, 2023 @ 1:02 pm By JD Alois  |  

Goldman Sachs (NYSE:GS) has finally agreed to sell digital lender GreenSky to a consortium led by Sixth Street. The purchasers include KKR, Bayview Asset Management, and CardWorks, with “significant support” from PIMCO through an asset acquisition, as well as strategic financing from CPP Investments. Alan… Read More

October 11, 2023 @ 1:00 am By JD Alois  |  

Untangled Finance has raised $13.5 million in “strategic funding” as it seeks to tokenize “real world private credit assets.” This includes SME loans, invoices, and more. The funding was provided by Fasanara Capital, a UK-based investment firm and technology platform that manages around $4 billion…. Read More

August 24, 2023 @ 6:33 pm By JD Alois  |  

Bank replacement platform Honeycomb has emerged as a top FINRA-regulated funding portal in regard to the number of Reg CF filings hitting the Securities and Exchange Commission. While this is not a deep dive into funding activity for the industry, HoneyComb has entered the mix… Read More

August 23, 2023 @ 3:00 pm By JD Alois  |  

A couple of years ago, a new online lending platform – Steward, was launched as the “world’s first CrowdFarming platform.” Steward was founded by Dan Miller, the co-founder of Fundrise, a prominent real estate investment platform. Miller had exited his leadership role at Fundrise and… Read More

July 30, 2023 @ 11:28 am By Omar Faridi  |  

Funding Circle (LSE: FCH), which claims to be a leading online lending platform for small business borrowers, recently announced that Kanthi Muthiah has joined the company as U.S. Chief Product Officer. Kanthi, a former FICO, PayPal, and JP Morgan executive, will “support overall product strategy and… Read More

July 24, 2023 @ 9:59 pm By JD Alois  |  

EstateGuru, a platform that matches borrowers with investors, has provided a half year update on its activities. The company reported that during the first 6 months of the year, EstateGuru has financed 269 separate real estate projects raising €44 million. During the same period, investors… Read More

July 20, 2023 @ 8:14 am By Omar Faridi  |  

HeavyFinance, a European climate tech investment marketplace, has gained the European Crowdfunding Service Providers (ECSP) license to accelerate its financial service expansion in Europe. HeavyFinance, based in Lithuania, originates loans directly in five European markets – Poland, Portugal, Lithuania, Latvia, and Bulgaria. This follows the… Read More