Tagged: smbs

January 19, 2021 @ 11:07 pm By Omar Faridi  |  

Online balance sheet lender, Nucleus Commercial Finance, reports that it has secured a £200 million funding line, which should help with increasing the platform’s capacity or ability to support more UK-based businesses. The new funding line should help ensure that the lender is well-positioned to… Read More

January 17, 2021 @ 10:37 pm By Omar Faridi  |  

Europe-based online SME lender October says there’s probably no need to describe or go over how our lives have been impacted by the COVID-19 outbreak. October claims that they had to “become economists, epidemiologists, and politicians” in order to cope with the challenges created by… Read More

January 15, 2021 @ 8:06 am By Omar Faridi  |  

Ireland-based Linked Finance, a peer to peer lending platform, has reportedly received record levels of interest from SMEs that are looking for government-backed loans. After recently being approved to serve as a Coronavirus Credit Guarantee Scheme (CCGS) provider,  Linked Finance claims it has received a… Read More

January 13, 2021 @ 10:46 pm By Omar Faridi  |  

Malaysia-based microLEAP, a platform that provides conventional and Islamic or Shariah-compliant peer-to-peer (P2P) financing options, has acquired RM 3.25 million (appr. $800,000) in capital. The platform’s investment round consists of RM 1.25 million in equity and a RM 2 million advance. The funds raised will… Read More

January 13, 2021 @ 10:41 pm By Omar Faridi  |  

Swiss Innovation agency Innosuisse will be introducing two funding projects in January 2021, which will be called the impulse program “Swiss Innovation Power” and the Flagship Initiative. In November of last year, the Federal Council in Switzerland had committed to launching the impulse program “Swiss… Read More

January 13, 2021 @ 1:19 am By Omar Faridi  |  

Czech Republic-headquartered Octobank is introducing what it claims is Europe’s first neo banking platform that’s focused on serving SMB e-shops and merchants. Octobank has launched a freemium plan for small merchants that are registered businesses in the Czech Republic. The package comes with a business… Read More

January 12, 2021 @ 9:45 pm By Omar Faridi  |  

A major part of Indonesia’s economy is supported by SMEs, which represent approximately 60% of the nation’s GDP. Many of the small businesses depend on a lot of manual processes and bookkeeping, however, the impact of the Coronavirus pandemic has led to SMBs becoming more… Read More

January 10, 2021 @ 9:23 pm By Omar Faridi  |  

Cross-border payment platform Currencycloud notes that financial innovation is now taking place at a “record pace.” However, when it comes to smaller businesses, you must first address their cash flow problems, because “nothing else matters” (if you can’t solve this issue first). Derik Sutton, VP… Read More

January 8, 2021 @ 9:30 am By Omar Faridi  |  

Fintech firm B-North, which facilitates loans for small businesses and is currently seeking a banking license, has reportedly entered a deal with Channel 4 Ventures. Manchester-headquartered B-North confirmed that it has acquired a follow-on investment of £250,000 from the Greater Manchester Combined Authority. The challenger… Read More

January 8, 2021 @ 8:50 am By Omar Faridi  |  

UK Finance, a trade association for the UK banking and financial services industry, has noted that after the extension of government support from November 2020, an estimated £600 million  in funding was provided via the topping-up of current Bounce Back Loan Scheme (BBLS) facilities. Lending… Read More

January 7, 2021 @ 8:27 am By Omar Faridi  |  

Linked Finance, an Ireland-based peer to peer lender, has reportedly been added to the country’s COVID-19 credit guarantee scheme. Notably, the P2P platform is the country’s first non-bank lender to be included. Linked Finance, which is one of Ireland’s largest P2P lending platforms, is now… Read More

January 5, 2021 @ 11:22 pm By Omar Faridi  |  

UK-based Cashplus, a banking and credit services provider for SMBs and consumers, has entered a definitive agreement to acquire the current account portfolio of icount. The amount paid for the acquisition has not been shared publicly. The deal, which may be finalized in early 2021,… Read More

January 2, 2021 @ 1:11 am By Omar Faridi  |  

The Lithuania-based Debitum platform, which offers borderless small business financing, was closed on December 31, 2020, for maintenance. Debitum’s management noted that as we enter the new year, Debitum also has “something new.” Debitum added that they had already informed their investors and business partners… Read More

December 31, 2020 @ 10:03 pm By Omar Faridi  |  

Anil Stocker, CEO and Co-founder at UK-based MarketFinance, one of the world’s largest peer-to-peer (P2P) invoice finance platforms, notes that like many of the businesses they support, MarketFinance spent the past 10 months dealing with major changes and challenges, “finding ways forward against all the… Read More

December 20, 2020 @ 11:34 pm By Omar Faridi  |  

Europe-based online SME lender October noted that this year the Christmas holidays will be quite different for everyone. The digital lending platform pointed out that isolation and social distancing will limit the celebrations this holiday season. October also mentioned that for many small businesses, the… Read More

December 17, 2020 @ 10:10 pm By Omar Faridi  |  

Fairbanc, the Silicon Valley-based Fintech firm that provides credit to the unbanked or financially underserved in Southeast Asia, has received financial backing from Columbia Business School’s student-run impact fund, Microlumbia. According to a release, this financial backing has come shortly after an investment from 500… Read More

December 15, 2020 @ 11:50 pm By Omar Faridi  |  

More UK-based consumers have been supporting their local independent businesses during the COVID-19 pandemic, according to research conducted by Nucleus Commercial Finance. The researchers revealed that the vast majority (96%) of UK consumers support their local businesses and 63% of them have made a special… Read More

December 14, 2020 @ 9:51 pm By Omar Faridi  |  

Lloyds Banking Group, a British retail and commercial bank with branches across England and Wales with around £436 billion in assets, is reportedly planning to run a 6-month trial or pilot of an invoice financing platform offered by Satago Financial Solutions. If the testing period… Read More

December 12, 2020 @ 1:48 pm By Omar Faridi  |  

UK-based firms are facing losses of around £1.86 billion (appr. $2.46 billion) which could result from unpaid invoices, even though the nation’s businesses have received financial support from the government’s COVID-19 relief packages. Red Flag Alert, an insolvency company that assists businesses with safeguarding their… Read More

December 8, 2020 @ 7:41 am By Omar Faridi  |  

A new study has found that SMEs are now using Open Banking solutions a lot more frequently than before the pandemic began. Approximately half of the SMEs that took part in a recent survey claim they’re now using Open Banking services providers, according to research… Read More