Tagged: progress report

October 17, 2023 @ 9:20 pm By Omar Faridi  |  

Revolut, the global financial superapp with more than 35 million customers worldwide, has revealed a significant expansion to its Financial Crime (FinCrime) headcount, doubling its size since 2021. Recognizing the critical role of human intelligence in fraud detection and prevention, alongside technology and AI, Revolut… Read More

October 17, 2023 @ 6:11 am By Omar Faridi  |  

On the heels of a solid year for Stash, the fintech announced the CFO and advisor Amy Butte as its independent audit chair. The company also announces “the infusion of $40 million led by funds and accounts advised by T. Rowe Price Investment Management, Inc.,… Read More

October 16, 2023 @ 11:03 pm By Omar Faridi  |  

PeerBerry’s business partner – real estate developer Lithome – repaid investors a EUR 320 000 (real estate project “City Stories”, funding of the first construction stage) loan and paid EUR 30,406 in interest. PeerBerry closed one more record month – in September, PeerBerry investors funded… Read More

October 16, 2023 @ 12:42 pm By Omar Faridi  |  

The month of September has shown “promising” growth on Mintos. Total investments via Mintos saw “a significant increase to €94.9 million, and interest earned by investors climbed to €4.1 million.” This upward trend was primarily “driven by the same trend we observed in August,” explained… Read More

October 15, 2023 @ 11:21 am By Omar Faridi  |  

The Saudi Central Bank (SAMA) issued its semi-annual performance report of the finance companies sector and real estate refinance for H1 2023. According to the report, most of the indicators in the finance companies sector “grew at varying rates in H1 2023.” The paid-up share… Read More

October 13, 2023 @ 4:46 pm By Omar Faridi  |  

The Financial Stability Board (FSB) published its annual progress report on climate-related disclosures. The report has been delivered to G20 Finance Ministers and Central Bank Governors for their 11-12 October 2023 meeting. The FSB welcomes the publication of the ISSB Standards, which will “serve as… Read More

October 11, 2023 @ 10:34 am By Omar Faridi  |  

As Klarpay moves past Q3 2023, they have reflected on their recent achievements and upcoming endeavors. Klarpay claims that it has been dedicated “to expanding its services and fostering corporate social responsibility.” Klarpay further claims that it has “become a participant in the SEPA Core… Read More

October 6, 2023 @ 3:21 pm By Omar Faridi  |  

Payments Canada released its annual Canadian Payment Methods and Trends 2023 report, which analyzes 20.5 billion payment transactions “made in 2022 totaling $11.7 trillion (more than $475 billion every business day) and highlights the trends shaping the Canadian payment landscape.” Year-over-year trends: Credit and debit… Read More

October 3, 2023 @ 11:44 pm By Omar Faridi  |  

Business confidence in the UK fell to 36% in September, “a five point dip from the 18-month high (41%) recorded in August, as companies saw a decline in both economic optimism and trading prospects for the year ahead.” This, according to an update shared by… Read More

October 3, 2023 @ 9:55 am By Omar Faridi  |  

UK insurtech, Ripe, achieved strong double-digit growth in 2022, maintaining its 15 year record of consistent revenue rises. Turnover climbed by £4 million to £27.2 million “in the 12 months ending 31 December 2022, compared with £23.3 million in 2021.” Over the course of the… Read More

September 27, 2023 @ 8:04 am By Omar Faridi  |  

August was a benchmark month for Estateguru, with a “record-breaking” €15.0M successfully repaid by borrowers. Estateguru also reports that it saw €10,0M in loans funded across all of their markets. August was a key month for Estateguru, with substantial repayments by platform borrowers. In addition… Read More

September 25, 2023 @ 8:46 am By Omar Faridi  |  

British Business Bank is supporting more than £12.4bn of finance through its core programs and meets its objectives, but “reports a loss for 2022/23 due to falls in market valuations.” Louis Taylor, CEO, British Business Bank, said: “The British Business Bank has continued to build… Read More

September 23, 2023 @ 6:20 pm By Omar Faridi  |  

During August 2023, Debitum says that it continued to implement the platform’s long-term development plan. Last month: the change in ownership of Debitum was announced (expect more details soon). As noted in the update from Debitum, Ukrainian asset management was “restructured and announced new investment… Read More

September 23, 2023 @ 6:18 pm By Omar Faridi  |  

In 19 months of the war (since February 24, 2022), PeerBerry business partners Aventus Group and Gofingo Group have, in total, “repaid PeerBerry investors €45.52 million or 90.64% of the total outstanding war-affected obligations.” Compared to other war-affected platforms, PeerBerry claims that it is the… Read More

September 23, 2023 @ 1:11 pm By Omar Faridi  |  

The Northern Ireland Housing Executive (NIHE) has reportedly invested more than £32m into building more than 400 new social homes in the north east of the country last year, the team at UK’s Blend Network has noted. Blend Network, a development finance lender, says it’s… Read More

September 21, 2023 @ 12:11 pm By Omar Faridi  |  

Socure, the provider of digital identity verification and fraud solutions, has achieved 376% revenue growth from 2019 to 2022 and appointed seasoned technology professional Aaron Barfoot as the company’s new Chief Financial Officer to help drive Socure’s next phase of growth. Barfoot reportedly “brings over… Read More

September 20, 2023 @ 11:04 pm By Omar Faridi  |  

Tide, the business financial platform, has reached a significant growth milestone. The business now claims a 10% market share of all UK small businesses “with more than 550,000 customers (members).” Tide serves small businesses which “don’t have their own finance function, such as sole traders,… Read More

September 17, 2023 @ 3:56 pm By Omar Faridi  |  

Netcapital Inc. (Nasdaq: NCPL), a digital private capital markets ecosystem, announced financial results for the first quarter of fiscal year 2024 ended July 31, 2023. Martin Kay, CEO of Netcapital Inc., said: “We are delighted to announce a very strong quarter for our funding portal,… Read More

September 13, 2023 @ 9:14 am By Omar Faridi  |  

Qudian Inc. (NYSE: QD), a consumer-oriented technology company, announced its unaudited financial results for the quarter ended June 30, 2023. As noted by Qudian, the Second Quarter 2023 Financial Highlights are: Total revenues were RMB11.1 million (US$1.5 million), compared to RMB105.4 million for the same… Read More

September 12, 2023 @ 8:37 am By Omar Faridi  |  

The month of August has shown “promising growth” on Mintos. As noted in a blog post by Mintos, the total investments saw “a significant increase of €99.5 million worth of Notes funded, and interest earned by investors climbed to €4.3 million.” The average interest rate… Read More