May 14, 2019 @ 3:05 pm By Samantha Hurst  |  

Biz2Credit announced on Tuesday the results of its latest Small Business Lending Index report, which revealed approval rates for small business loan applications reached a record high of 27.5% at big banks ($10 billion+ in assets) in April, up one-tenth of a percent from March, while  approval percentages at small… Read More

May 9, 2019 @ 7:52 pm By Samantha Hurst  |  

Temenos AG (SIX: TEMN), a Switzerland-based banking software provider, announced on Thursday that Judo Bank (formerly Judo Capital), an Australian SME challenger bank, has gone live in record time with Temenos T24 Transact, Analytics, Financial Crime Mitigation and Channels, a module of Temenos Infinity, running… Read More

May 7, 2019 @ 11:13 am By Samantha Hurst  |  

Esme Loans, the NatWest backed standalone digital lending platform for SMEs, announced last week it has hit £50 million of lending to UK businesses. The online lender reported that it has seen a continued period of strong growth, following an uplift in lending of 337%… Read More

May 5, 2019 @ 10:05 pm By Samantha Hurst  |  

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Thursday its 2019 first quarter financial results. According to OnDeck, net income of $5.9 million, Adjusted Net Income of $8.3 million and gross revenue of $110.2 million. “Net income was $5.9 million, or $0.07 per diluted share, and decreased from the… Read More

April 29, 2019 @ 9:39 am By Samantha Hurst  |  

Online lending platform Funding Circle announced on Monday it partnered with Oxford Economics to launch a new report, called “Big Business of Small Business,” which revealed banks have been giving small businesses the “cold shoulder” one decade after the financial crisis, causing the businesses to fail… Read More

April 18, 2019 @ 8:40 am By Samantha Hurst  |  

Lendified, a Canada-based lender who provides small business loans online, announced on Wednesday it secured $15 million through its latest funding round with institutional and private investors. The investors include CI Financial Corp., Windsor Private Capital Limited Partnership, FirePower Capital, and a group of high… Read More

April 17, 2019 @ 6:38 pm By Samantha Hurst  |  

The European Investment Bank (EIB) announced on Wednesday it will lend €100 million to small businesses through online lending platform Funding Circle. According to the banking group, the investment, alongside a further €25 million from a leading global asset manager, will support more than 2,000… Read More

April 8, 2019 @ 9:11 am By Samantha Hurst  |  

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Friday it will offer to fund and debit customer bank accounts with Same Day ACH transfers. According to OnDeck, same Day ACH transfers will provide qualified OnDeck Term Loan and Line of Credit customers… Read More

April 1, 2019 @ 11:24 am By Samantha Hurst  |  

Novo, a U.S.-based small business challenger bank, announced last week it secured $4.8 million through its seed funding round, which was led by Crosslink Capital with participation from Red Sea Ventures, Hack VC, RRE, Rainfall, and the Stanford Law School Venture Fund. Founded in 2016,… Read More

March 27, 2019 @ 2:35 pm By Samantha Hurst  |  

Qupital, a Hong Kong-based trade finance platform, announced on Wednesday it secured $15 million through its Series A investment round, which was led by CreditEase FinTech Investment Fund (CEFIF) with additional capital injections from the Alibaba Hong Kong Entrepreneurs fund and MindWorks Ventures. Qupital reported that it… Read More

March 14, 2019 @ 9:41 pm By Samantha Hurst  |  

Credit Suisse announced on Thursday it has joined forces with Swiss software provider KLARA to simplify online credit requests for SMEs. Credit Suisse reported that starting now, SMEs that use KLARA may submit online credit requests to its platform. “SMEs can thus directly submit their… Read More

March 7, 2019 @ 1:58 pm By Samantha Hurst  |  

Nationwide announced on Thursday it has teamed up with online small business lender BlueVine to offer the fintech’s financing to small businesses through Nationwide’s Business Solution Center. According to Nationwide, small businesses may have access to the online lending platform by applying through the BlueVine… Read More

March 6, 2019 @ 8:13 am By Samantha Hurst  |  

PayPal announced on Wednesday it has provided a huge £1 billion of finance to UK small businesses through PayPal Working Capital program.  According to PayPal, the alternative finance offering allows UK small businesses to apply for, and receive, a cash advance against future sales online… Read More

January 7, 2019 @ 4:07 pm By Samantha Hurst  |  

LendingFront, a U.S.-based small business lending software provider, has raised $4 million through its Series A funding round, which was led by Information Venture Partners with participation from Newark Venture Partners, Revel Partners, Contour Venture Partners as well as existing investors Struck Capital, ValueStream Ventures… Read More

December 20, 2018 @ 7:55 am By Samantha Hurst  |  

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Wednesday it is set to offer equipment finance loans to select U.S. small businesses next year, bringing its technology and digital lending expertise to what it believes has traditionally been a slow-moving, opaque, and… Read More

December 11, 2018 @ 12:13 pm By Samantha Hurst  |  

Banco BNI Europa and Edebex announced on Tuesday they celebrated the first anniversary of their partnership that makes available an online platform for the purchase and sale of invoices to Portuguese companies with working capital needs, offering an innovative alternative to financial credit and traditional… Read More

December 10, 2018 @ 2:45 pm By Samantha Hurst  |  

Xero (ASX: XRO), a global small business platform, announced last week it surpassed one million subscribers across Australia and New Zealand (ANZ). According to Xero, this milestone marks its platform as being the regional leader in the uptake of cloud accounting technology. Speaking about the… Read More

November 21, 2018 @ 11:33 am By Samantha Hurst  |  

UK challenger bank Starling Bank announced last week it launched its in-app Marketplace for small businesses. According to Starling Bank, the new wave of Marketplace partners includes the launch of accounting software platform Xero and the latter will enable the bank’s 20,000 business banking customers to automatically… Read More

November 11, 2018 @ 8:11 pm By Samantha Hurst  |  

UK-based current accounting and tax platform Coconut has successfully secured more than £1 million in funding from over 1,000 investors through its equity crowdfunding round on Crowdcube. The campaign was launched earlier this month and quickly raised its initial £500,000 funding target.  As previously reported, Coconut describes… Read More

November 6, 2018 @ 3:27 pm By Samantha Hurst  |  

UK-based current accounting and tax platform Coconut has quickly secured its initial £500,000 funding target through equity crowdfunding platform, Crowdcube. Founded in 2016, Coconut describes itself as a current account that takes care of a user’s accounting and tax. The platform is designed specifically for freelancers,… Read More