Tagged: lending

September 23, 2023 @ 6:02 pm By Omar Faridi  |  

The growth that kickstarted in July has continued into August, “with increases across the board,” the team at Bondora noted. Loan originations, as well as investment product funding, “totaled over €15M each in August. Cash recoveries and collection efforts also increased to over €1M.” Bondora… Read More

September 19, 2023 @ 8:10 am By Omar Faridi  |  

ThinCats, an alternative lender, has agreed a new warehouse facility with Citi and Barclays Bank PLC supported by a guarantee through the British Business Bank’s ENABLE Guarantee program. This new facility supports lending of “up to £696m for mid-sized smaller businesses in the UK, making… Read More

September 14, 2023 @ 4:22 pm By Omar Faridi  |  

Over the summer, the number of monthly visits to the most popular European continental P2P platforms grew by 22.5%, according to an update shared by UnaFinancial (formerly doing business as Robo.cash). The analysis of monthly traffic by UnaFinancial of the websites of leading European P2P… Read More

September 11, 2023 @ 8:06 am By Omar Faridi  |  

UK’s Blend Network, a specialist development finance lender, is reporting solid progress on-site at one of the schemes that they recently funded in Cambridge, where the borrower “intended to acquire, convert and extend an existing building into nine apartments.” At Blend Network, they are supporting… Read More

September 10, 2023 @ 11:42 pm By Omar Faridi  |  

LHV Bank, the UK’s newest licensed bank, has rolled out a new loan system for its SME Lending division, transitioning to the cloud-based banking system of its SaaS partner, Tuum. This move consolidates the bank’s architecture, “enhances resource allocation, and establishes a robust futureproof framework,… Read More

September 7, 2023 @ 10:25 pm By Omar Faridi  |  

Finastra announced that LaserPro, its loan document preparation system used by more than 2,500 financial institutions, is now available in the cloud. This strategic launch of LaserPro in the cloud streamlines loan document compliance management capabilities “for financial institutions with a Software as a Service… Read More

September 7, 2023 @ 10:19 pm By Omar Faridi  |  

Nu Mexico announces the launch of its new product: personal loans. Like all Nu products, the launch will follow “a phased rollout process, starting in the coming days with a group of employees who will begin testing the product, to then expand the offering to… Read More

September 7, 2023 @ 11:44 am By Omar Faridi  |  

Momnt, a Fintech company specializing in real-time lending and payment solutions for businesses, is announcing the closing of its latest capital raise, “totaling $15 million.” TruStage Ventures led the investment round “with participation from Saluda Grade Ventures, existing investors, and a new investment from a… Read More

September 6, 2023 @ 4:56 pm By Omar Faridi  |  

Debitum is pleased to announce that Debitum-affiliated Loan originator Sandbox Funding has issued its 1st million euros in loans. Loans have been issued “to Latvian companies from forestry and agriculture, energy, and eco-house construction industries.” Henrijs Jansons, Debitum CEO, said: “We started to test Sandbox… Read More

September 6, 2023 @ 9:32 am By Omar Faridi  |  

In August, PeerBerry reportedly crossed two key milestones. PeerBerry investors funded “a record amount of EUR 75.36 million in loans, exceeding a pre-war level”. It is the largest amount funded “in one month on the platform in PeerBerry’s six-year history.” At the end of August,… Read More

September 4, 2023 @ 12:15 pm By Omar Faridi  |  

A new Experian report shows consumers are continuing to opt for shorter term loans. In the second quarter of 2023, captives reportedly “regained the lion’s share of total vehicle financing, outpacing banks and credit unions.” According to Experian’s State of the Automotive Finance Market Report:… Read More

August 31, 2023 @ 9:32 am By Omar Faridi  |  

P2P platforms used to take about 5 years to reach key metrics, whereas in current conditions, new companies need just 3 years to do so, according to a recent update shared by Robo.cash. Robocash platform analysts have reportedly looked into three parameters “as the main… Read More

August 30, 2023 @ 8:52 am By Omar Faridi  |  

UK-based SME funding advisors are reporting significantly lower levels of activity and fewer business pipelines when compared to earlier this year. This, according to a survey conducted by the team at ThinCats. The firm reported that over 55% of advisor surveys reveal that there are… Read More

August 29, 2023 @ 10:47 pm By Omar Faridi  |  

The funding initiates a multi-year, comprehensive growth roadmap designed to see Maple establish itself beyond DeFi and into the world of traditional finance “as a lending marketplace and technology provider.” As noted in a blog post, Maple has closed “a $5 million strategic funding round.”… Read More

August 20, 2023 @ 10:22 pm By Omar Faridi  |  

PostFinance is boosting its mortgage lending: the financial service provider is acquiring a stake in Credit Exchange Ltd (CredEx) and taking a seat on its Board of Directors. The two parties have “signed a contract to that effect.” This partnership with the mortgage marketplace CredEx… Read More

August 16, 2023 @ 8:34 am By Omar Faridi  |  

Tietoevry is pleased to announce its collaboration with The Savings Banks Group Finland in order “to renew its lending platform, where Tietoevry’s Lending Suite, the leading credit solution in the Nordic markets, will serve as the foundation.” This strategic partnership is part of “a broader… Read More

August 15, 2023 @ 8:50 am By Omar Faridi  |  

FOLK2FOLK, which claims to be the UK’s leading peer-to-peer lending platform connecting Investors with regional and rural businesses, is pleased to announce that its dedicated community of Investors “earned £14.2 million in interest during the last tax year (2022/2023).” According to the firm, this achievement… Read More

August 12, 2023 @ 11:23 am By Omar Faridi  |  

Zirtue, the relationship-based lending app with a mission to drive financial inclusion, announces today its partnership with TruStage, a financially strong insurance, investment, and technology provider, built on the philosophy of people helping people. Formally known as CUNA Mutual Group, TruStage was “born out of… Read More

August 12, 2023 @ 11:21 am By Omar Faridi  |  

Binance Labs, the venture capital and incubation arm of Binance, has committed 10 Million USD to Helio Protocol, a project “combining over-collateralized lending of its native decentralized stablecoin, HAY, with staking-as-a-service (StaaS) and LSDfi infrastructure, with approximately combined 300 million USD in total value locked… Read More

August 9, 2023 @ 10:26 pm By Omar Faridi  |  

Netbank and UBX have signed an agreement to issue loans to sellers on ecommerce platforms, and started to issue these loans. Netbank expects to rapidly “expand its lending to e-commerce sellers in the next year.” Many sellers on e-commerce platforms “require additional working capital to… Read More