Tagged: small businesses

September 25, 2020 @ 2:30 pm By Omar Faridi  |  

For the first time ever (in September 2019), giant Wall Street investment bank Goldman Sachs’ (NYSE:GS) structured finance division provided a $100 million secured credit facility to Mexico-based Fintech startup Konfio Ltd. As reported last year, the funds were to be directed toward Konfio’s business… Read More

September 24, 2020 @ 11:00 pm By Omar Faridi  |  

Asosiasi Fintech Pendanaan Bersama Indonesia (AFPI), which is an association of 156 Fintech lenders, is reportedly planning to work cooperatively with the Indonesian government to distribute funds that are meant to offset the economic problems and challenges created due to COVID-19. As of September 2020,… Read More

September 23, 2020 @ 12:37 pm By Samantha Hurst  |  

Small business funding platform Biz2Credit announced on Tuesday it is teaming up with the American Institute of Certified Public Accountants (AICPA), its business and technology arm, CPA.com, to launch a new small business funding platform, CPALoanPortal.com. According to Biz2Credit, the platform was created to help… Read More

September 21, 2020 @ 7:49 am By Omar Faridi  |  

Sadie Williamson, founder of Williamson Fintech Consulting, notes that the rise of Fintech may be considered the small business ecosystem’s “biggest game-changing” developments of the past several years. Williamson acknowledges that Fintech products aren’t yet mature enough to fully replace legacy banking systems. However, she… Read More

September 17, 2020 @ 10:40 pm By Omar Faridi  |  

Fintech solutions, retail focused platforms, and information communication technology or ICT software programs are expected to lead the blockchain or distributed ledger tech (DLT) revolution, according to a new report. The findings of CIVITTA’s report reveal that finance, retail, and ICT solutions are the “most… Read More

September 11, 2020 @ 10:43 am By Omar Faridi  |  

The MENA region’s digital payments sector is projected to grow by 6.5% from 2020 to 2021. The Coronavirus crisis may have accelerated the shift towards the adoption of all-digital platforms and services, including virtual payments. The MENA region’s Fintech industry participants recently noted that the… Read More

September 8, 2020 @ 11:28 pm By Omar Faridi  |  

Chinese insurance giant Ping An recently pointed out that Fintech has the potential to enhance operational efficiency by reducing business costs and lowering certain risks in the financial services sector. Supporting SMEs is one way more established institutions can enable digital transformation across the financial… Read More

September 8, 2020 @ 1:31 pm By Samantha Hurst  |  

Small business funding platform Biz2Credit announced on Tuesday its latest Small Business Lending Index has been released and revealed small business loan approval percentages at big banks ($10 billion+ in assets) and small banks dropped slightly in August 2020, an indication that the upward trend… Read More

September 7, 2020 @ 11:16 pm By Omar Faridi  |  

Indonesia’s Fintech Lenders Association (AFPI) has reportedly offered to help with disbursing funds that have been allocated to the country’s national economic recovery program (PEN). As first reported by the Jakarta Post, the Indonesian government has been struggling to obtain the data required to provide… Read More

September 7, 2020 @ 11:03 pm By Omar Faridi  |  

Payments giant Visa has teamed up with Pakistan’s Daraz, an online marketplace and logistics firm which operates in markets of South Asia and Southeast Asia (owned by Alibaba Group). Through the long-term, strategic partnership, the companies will introduce “Visa Mondays,” which will allow Daraz customers… Read More

September 7, 2020 @ 10:45 pm By Omar Faridi  |  

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, notes that the Bounce Back Loan Scheme (BBLS) will be ending in early November of this year. The BBLS has been provided via the British Business Bank… Read More

September 3, 2020 @ 9:38 pm By Samantha Hurst  |  

LendingUSA, a U.S.-based fintech lender that provides loans to small businesses ranging from $1000 to $35,000, announced on Thursday it secured a $200 million investment commitment from Atalaya Capital Management, a New York-based privately held investment advisory firm. As previously reported, LendingUSA specializes in point… Read More

August 31, 2020 @ 8:20 pm By Omar Faridi  |  

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

August 28, 2020 @ 8:59 am By Samantha Hurst  |  

Bill.com, a business payments and software platform provider, announced on Thursday it has joined forces with KeyBank (NYSE: KEY) to launch Key CashFlow, an online banking solution that streamlines payments for small businesses (SMBs) and commercial customers. According to Bill.com, Key CashFlow is a scalable,… Read More

August 25, 2020 @ 11:33 pm By Omar Faridi  |  

A new, 100,000 square feet building dedicated to the latest Fintech solutions will be established at the University of Delaware’s Science, Technology and Advanced Research Campus (STAR) in Newark. The initiative will be supported by Cinnaire’s $9 million New Markets Tax Credit (NMTC) allocation, which… Read More

August 21, 2020 @ 5:50 pm By Omar Faridi  |  

Southeast (SE) Asia is home to an unbanked population of around 290 million, according to a recent report from Fitch Ratings. Fintech solutions can enable more widespread financial inclusion, and could potentially increase the GDP of emerging markets by $3.7 trillion, according to an updated… Read More

August 21, 2020 @ 12:27 pm By Omar Faridi  |  

Cairo-headquartered payment company, Paymob has acquired $3.5 million in capital through an investment round that was led by Dubai’s Global Ventures and the Dutch Entrepreneurial Development Bank FMO. Existing investor A15 also took part in the round. Established in 2015 by Islam Shawky, Alain El… Read More

August 17, 2020 @ 2:13 pm By Samantha Hurst  |  

U.S. banking group TD Bank announced on Monday it has launched TD Online Accounting to provide integrated payment and accounting product for its small business customers. TD Bank reported that TD Online Accounting uses the technology of Autobooks, an integrated accounting and receivables platform that allows… Read More

August 17, 2020 @ 8:07 am By Samantha Hurst  |  

‘ UK-based digital banking group Starling Bank announced on Monday its latest survey reveals four in five (80%) UK SMEs are confident they will recover from the COVID-19 pandemic. The survey, which was conducted with the Great British Entrepreneur Awards (GBEA) was done on more… Read More

August 16, 2020 @ 5:38 pm By Omar Faridi  |  

The Bank of Montreal (BMO), a Canadian multinational investment bank and financial services company with over 45,000 employees and a more than 850 billion CAD in assets, has created an API portal to allow small business clients to easily and securely share their data with… Read More