Small business loan approval percentages at big banks ($10m + in assets) “rose from 14.9% in March to 15.1% in April, and small banks’ approvals also increased from 20.6% in March to 20.8% this past month.” This, according to the latest Biz2Credit Small Business Lending… Read More
Read more in: Fintech | Tagged alternative lenders, biz2credit, lending, rohit arora, small businesses, smbs
Pie Insurance, an Insurtech specializing in workers’ comp insurance for small businesses, announced it appointed leadership team members “including David Samuels as the first chief commercial officer, Dimitrius King as the first chief claims officer, Kelly North as vice president of business development, and Jen… Read More
Read more in: Insurtech | Tagged insurance, insurance technology, insurtech, john swigart, new appointments, pie, pie insurance, small businesses, workers comp insurance
The small business lending market has has reportedly returned to pre-pandemic levels of activity. This, according to nearly a third of brokers (30%) surveyed in iwoca’s latest SME Expert Index. And nearly another third (31%) believe the market will “return within 6 months, based on… Read More
Read more in: Fintech, Global | Tagged colin goldstein, coronavirus, covid-19, europe, iwoca, lending, research, Research Report, Research Study, small businesses, smbs, sme's, survey, uk, united kingdom
Veem, which claims to be a “leading” provider of global B2B payment solutions, has announced the rollout of new functionalities “including enhanced card options and faster ACH, allowing small businesses more flexibility in how they pay and get paid to manage cash flow.” Credit cards… Read More
Read more in: Fintech | Tagged california, credit cards, marwan forzley, san francisco, small businesses, smbs, sme's, united states, us, veem, visa
Square recently announced the launch of Square Loans in Canada, giving small businesses quick and simple “access to funds and eliminating another major pain point associated with running a business.” By using transaction data, Square Loans “proactively surfaces customized offers to eligible sellers, providing them… Read More
Read more in: Fintech, Canada | Tagged block, canada, financial services, fintech adoption, fintech trends, loans, small businesses, smbs, sme's, square, square loans
ICICI Bank (BSE: ICICIBANK, NYSE:IBN) announced that it has introduced India’s “first” comprehensive digital ecosystem for all MSMEs in the country, “including customers of other banks.” The ecosystem “has three pillars: i) enhanced banking services for existing customers, ii) a bouquet of banking services to… Read More
Read more in: Asia, Fintech | Tagged anup bagchi, banking, digital banking, digital technology, digital transformation, digitalization, icici bank, india, msmes, small businesses, smbs, sme's
C2FO, which claims to be the “largest” global platform for working capital, recently announced that it has “surpassed $200 billion in cumulative funding provided to its customers around the world.” As noted in an update shared with CI, this record funding amount “reflects invoices that… Read More
Read more in: Fintech | Tagged alexander "sandy" lemper, c2fo, funding, progress report, small businesses, smbs, sme's, working capital
Wells Fargo (NYSE: WFC) recently announced the Small Business Resource Navigator, which is an online portal helping connect small business owners “to potential financing options and technical assistance through Community Development Financial Institutions (CDFIs) across the country.” The portal was launched in collaboration “with the… Read More
Read more in: Fintech | Tagged ann finnegan, community reinvestment fund, derek ellington, digital financial services, financial services, patrick davis, small businesses, smbs, sme's, united states, us, wells fargo
First Internet Bank recently announced that Genevieve Lua has “joined its growing Small Business Administration (SBA) Lending team as a Vice President, Business Development Officer.” First Internet Bank Vice President, National SBA Sales Manager Mark Gibson said: “Genevieve’s people-first focus and relationship-building skills are important… Read More
Read more in: Fintech, General News | Tagged banking, digital financial services, financial services, first internet bancorp, first internet bank, genevieve lua, mark gibson, new appointments, nicole lorch, small businesses, smbs, sme's, women changing finance
Funding Societies, which claims to be Southeast Asia’s largest SME digital financing platform, recently announced that it has teamed up Dedoco, a “decentralized” digital document and workflow management platform, in order “to become one of the first FinTech platforms to enable micro, small and medium… Read More
Read more in: Asia, Blockchain & Digital Assets, Investment Platforms and Marketplaces | Tagged chua cheng zhan, dedoco, digital signing, distributed ledger technology, dlt, funding-societies, kevin lau, msmes, sign with singpass, small businesses, southeast asia, workflow management
MX, which claims to be the leader in Open Finance, and Boss Insights, a key player in business data aggregation, are teaming up to provide Fintechs and financial institutions real-time access “to enhanced small business banking, accounting, and commerce data to accelerate business lending and… Read More
Read more in: Fintech | Tagged boss insights, business lending, data, don parker, financial data, financial services, keren moynihan, mx, small businesses, smbs, sme's
Brex, the firm that’s focused on reimagining finance for growing businesses, announced Brex Empower, a new software platform designed “to increase the speed of businesses by enabling a culture of trust and financial discipline.” Empower will serve as the foundation for all Brex products “moving… Read More
Read more in: Fintech | Tagged brex, brex empower, doordash, financial services, fintech adoption, fintech trends, henrique dubugras, mike kim, silicon valley, small businesses, united states, us
Kayamo is teaming up with Netbank, a fully-regulated bank that provides Banking-As-A-Service solutions through open APIs, to improve the way they release loan payouts and collect loan repayments–”overall, to provide a better user experience for their end-customers.” Prior to this partnership, Kayamo needed “to complete… Read More
Read more in: Asia, Fintech, General News | Tagged automation, baas, banking, banking as a service, carl ladios, digital banking, digital financial services, financial inclusion, financial services, kayamo, kayamo group, netbank, Philippines, small businesses, smbs, sme's, southeast asia, vince roldan, virtual banking
Tribal, a B2B payments and financing platform for emerging markets, has introduced Tribal Ventures, which is a new fund that will provide equity financing for early-stage Fintechs. The fund is specifically designed “to support projects that share Tribal’s mission to help SMBs thrive in emerging… Read More
Read more in: Fintech | Tagged b2b, b2b payments, christine chang, early-stage fintechs, equity financing, fintech fund, mohamed elkasstawi, payments, small businesses, smbs, startups, tribal, tribal ventures
PayMint, the Egypt-headquartered Fintech firm, has closed a seed funding round (of 7 figures) from AUR Fintech-which is a subsidiary of AUR Capital, in order to support PayMint’s business expansion plan in Fintech and SMEs’ financial inclusion in Egyptian markets. PayMint introduced its services back… Read More
Read more in: Fintech, Global | Tagged egypt, investment round, mena, mena region, mohamed kammoura, mohamed yahya, payments, paymint, small businesses, smbs, sme's
FintechOS, a tech partner offering “high-productivity” Fintech infrastructure solutions for firms providing financial services, confirmed the launch of its accelerators for SME mobile lending and onboarding. The accelerators enable service provides to conveniently and efficiently enhance the SME customer onboarding process and streamline the loan… Read More
Read more in: Fintech, General News | Tagged europe, financing, fintechos, lending, london, small businesses, smbs, sme's, teo blidarus, uk, united kingdom
Thinking Capital, Canada’s Fintech provider of credit and insights to small businesses and a member of the Purpose Unlimited family of companies today announced its new name: Driven, by Purpose. The name <<Driven, by Purpose>> “celebrates the drive and the generative energy of small businesses… Read More
Read more in: Blockchain & Digital Assets, Canada, Fintech | Tagged driven, driven by purpose, purpose unlimited, small businesses, smbs, sme's, Som Seif, stéphane marceau, thinking capital
Finally, the Fintech startup whose goal is to help small businesses automate their accounting and finance functions, has announced a $95 million Series A, including equity and debt. The investment round has been led by PeakSpan Capital along with contributions from Active Capital, 500 FinTech,… Read More
Read more in: Fintech | Tagged felix rodriguez, finally, investment round, michael marcheseodriguez, peakspan capital, small businesses, smbs, sme's, united states, us
UK-based ThinCats, the alternative finance provider to SMEs, has reportedly appointed Billy Ferguson to serve as the firm’s CTO. Ferguson brings considerable professional experience within the IT industry, having previously served in key roles at Aldermore Bank, Allianz Insurance as well as Prudential. Ferguson will… Read More
Read more in: General News, Investment Platforms and Marketplaces | Tagged alternative finance, amany attia, billy ferguson, europe, lending, new appointments, small businesses, smbs, sme's, thincats, uk, united kingdom
Malaysia Debt Ventures (MDV), a subsidiary of the Minister of Finance (MOF) and dedicated tech financier, is reportedly establishing a pilot fund valued at RM500,000 to be invested through Funding Societies, a Southeast Asia-based SME digital financing platform. This move intends to reach underserved companies,… Read More
Read more in: Asia, Fintech, Investment Platforms and Marketplaces | Tagged amar abrol, digital financial services, digital transactions, elevate, funding-societies, mdv, mobile banking, nizam mohamed nadzri, shrawan saraogi, singapore, small businesses, smbs, sme's, southeast asia, virtual cards, wong kah meng
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