Tagged: fintech lending

Indian Fintech U GRO Capital, an Online Lending Platform for SMEs, Reports Over $2 Million in Net Profit for Current FY

Indian Fintech U GRO Capital, an online lending platform for SMEs, has released its Q2 FY21 financial results and posted a (profit after tax) PAT of INR 17.2 Crores (appr. $2.28 million). The BSE (formerly called Bombay Stock Exchange) stock exchange-listed, technology-focused platform noted that… Read More

Fintech Lending in Indonesia Might Not be Able to Fully Support Participation from Retail Investors

LendingClub (NYSE:LC) recently filed an 8-K with the US Securities and Exchange Commission (SEC) indicating its intent to stop offering retail notes by the end of the year. The leading marketplace lender in the US started as a peer to peer lender but over the… Read More

Fintech Firms in India are Expecting to Make a Recovery from COVID within 6 Months: Report

Fintech companies in India are now expecting to make a recovery within the next six months, after being hit hard by the COVID-19 pandemic, which has led to many people losing their jobs and businesses shutting down. Indian Fintech firms including payments, lending and neobanking… Read More

Indonesian Fintech Lenders Association Establishes Task Force to Help P2P Lending Firms Deal with Rising Number of Bad Loans

The Indonesian Fintech Lenders Association (AFPI) has reportedly decided to establish a special task force to assist peer-to-peer (P2P) Fintech companies with the significant increase in bad loans – which may have resulted from the socioeconomic challenges created due to the Coronavirus crisis. Adrian Gunadi,… Read More

Digital Financial Services Firm Konfio Obtains $58.8 Million Credit Line to Help Mexican Women Access Financing Options

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

India’s Consumer Lending Platform ZestMoney CEO Reveals Country’s Severe Lockdowns led to “Almost Complete Cessation” of Economic Activity

Lizzie Chapman, CEO and co-founder at ZestMoney, which claims to be one of the largest and fastest-growing Fintech firms in India, recently discussed what she considers the future of lending in a post COVID world. She acknowledges that this has been one of the most… Read More

Indonesia’s Fintech Lenders Association Offers to Assist with Disbursing Funds Allocated to COVID-19 related National Economic Recovery Program

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

Kokila Alagh: Founder of KARM Legal, Member of MENA Fintech Board, Discusses Role of Emerging Tech in Streamlining Middle Eastern Businesses

Kokila Alagh, Founder of KARM Legal and a member of the MENA Fintech board, recently shared the latest updates from the Middle East region, including the United Arab Emirates (UAE) with Crowdfund Insider. Alagh works closely with the Arab Monetary Fund (AMF), the Dubai International… Read More

Online Lender October Explains how Investors can Help Businesses Cope with COVID-19 with French Government Guaranteed Loans

October, a leading European online lender, confirms that State guaranteed loans were recently introduced in France by the nation’s government in order to help businesses during the COVID-19 pandemic, as they might be struggling to maintain operations. October explains that the French government aims to… Read More

Around 55 to 75% of Loans Issued in India by 2025 Will be Through Digital Onboarding Processes, Fintech Exec Predicts

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

Over 75% of Malaysian Businesses are Now Using Fintech Products, including Mobile Payments, Digital Wallets: Survey

More than 75% of Malaysia based businesses are now using at least one Fintech-related product or service since the past year, according to a recent survey released by CPA Australia, an established accounting firm. Mobile payments and digital or online wallets are the most widely-used… Read More

Indonesia’s Rapidly Expanding Fintech Sector May Create New Opportunities for Switzerland based Businesses: Report

Indonesia has a population of around 270 million residents, and most of these people are underbanked or financially underserved. Businesses in the fast-growing economy also don’t yet have access to modern financial services, like the kind we’d typically find in many of the developed Western… Read More

UK Fintech iwoca, which focuses on Lending to SMEs, Is Asking for Closer Collaboration between Banks and Alternative Lenders for Supporting CBILS during COVID-19

UK-based Fintech iwoca, a company focused on lending to SMEs, is calling for closer collaboration between the country’s largest financial institutions, after securing £100 million to support the operations of small businesses looking for financing via the Coronavirus Business Interruption Loan Scheme (CBILS). The COVID-19… Read More

Billionaire Tech Entrepreneur Sachin Bansal Claims his Indian Startup Navi Technologies has become a Leading Fintech Lender

Indian startup Navi Technologies, a company that aims to make financial services simple, affordable, and more accessible, has become one of the leading Fintech lending applications in the country in just a few months after its launch, according to Sachin Bansal, the company’s co-founder. Bansal,… Read More

P2P Lenders in Indonesia Report Slowdown in Loan Disbursement via Fintech Platforms due to COVID-19

Indonesia’s Fintech lending platforms have reported slowing growth in total loan disbursements due to the COVID-19 outbreak and resulting economic challenges. The pandemic has caused many Indonesian startups to become more careful when channeling their credit. The Asian country’s Fintech Lenders Association (AFPI) deputy chairman… Read More

University of Indonesia Study Reveals that Borrowers Using Local P2P Lender Investree Were Able to Generate More Revenue

Borrowers that use Indonesia’s peer to peer (P2P) lending platform Investree, which mainly includes local SMEs, had reported a considerable increase in their earnings. They were also able to better scale their business operations after obtaining loans from Investree, according to a recent study conducted… Read More

P2P Property Lender Blend Network Repays £2.282 Million to Lenders who had Invested in Six Different Loans

Blend Network, a peer to peer (P2P) property lender, has reportedly repaid £2.282 million to lenders who had made strategic investments in six different loans. These loans included the Charterhouse loan, the Image House loan, and the four Crown House loans. Lenders were able to… Read More

Mumbai based Online Lender InCred Acquires Fintech Platform Qbera

Mumbai based online lender InCred has reportedly acquired Fintech platform Qbera. The acquisition has come as India struggles to cope with the COVID-19 outbreak and associated challenges. InCred and Qbera haven’t disclosed the amount paid for the transaction, however, sources claim the deal may be… Read More

P2P Fintech Lending Sector in Indonesia May Struggle Due to Risky Loans, as Lenders Rejected Over 50% of Restructuring Requests

The Fintech sector in Indonesia is reportedly struggling due to potentially risky loans as lenders on local peer to peer (P2P) lending marketplaces rejected over half of loan restructuring requests from debtors. This, according to a recent survey which revealed that Indonesia’s residents and businesses… Read More

Here’s Why Indonesia could be Ideal for Fintech Lending Platforms as Many Residents are Underbanked, and within Working Age

Indonesia’s Fintech sector has been growing steadily, however, the majority or over 70% of the country’s adult population is unbanked or underbanked, according to the latest e-Conomy SEA Report. This suggests that Fintech businesses in Indonesia have a good opportunity to provide modern financial services… Read More

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