Target Group makes new CEO and COO appointments
John Barker has been named as the firm’s new CEO, with Peter O’Connor taking on the role of COO.
Lending
Nymbus and Citizens Bank of Edmond to launch niche bank for US military
The product will offer financial services designed to meet the needs of newly enlisted members of the military.
US consumer finance regulator to outline credit card-like BNPL protections
The CFPB will set out guidance to hem BNPL firms much closer to credit cards in terms of regulation.
Fintech platform for freight and logistics, Denim, closes $126m Series B
Denim automates invoicing, collections and payments, claiming to reduce daily payments and collections tasks by 75%.
New fintech platform Ratio emerges from stealth raising $411m
The start-up has raised $11 million in venture funding and $400 million in a credit facility.
US fintech Kafene lands $18m in Series B funding
The new funding will be used to increase Kafene’s employee headcount and onboard more merchants onto its platform.
FTC orders Credit Karma to pay $3m for “misleading” consumers
Credit Karma says it disagrees with the FTC’s allegations but that it has reached an agreement.
P2P lender liwwa raises $18.5m in equity and debt
liwwa operates a marketplace for SME loans where investors can purchase loan receivables.
UK’s Amplifi Capital launches personal loans provider Reevo Money
Reevo Money says its ultimate goal is to help people build their credit rating.
FinTech Futures: Top five stories of the week – 9 September 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Europe fintech funding round-up: Ark Kapital, Credix and Nokkel
A handy round-up of the recent funding endeavours of fintech companies across Europe.
New challenger bank in the UK – StreamBank
StreamBank intends to be a partner for property professionals looking for bridging or development finance.
Mambu core banking tech underpins new African bank, Carbon Finance
Nigeria’s Carbon Finance is now a full-service bank with pan-African aspirations.
Colombian fintech start-up Plurall bags $20m debt funding
The debt funding will be complemented by a seed equity round that Plurall is currently raising.
India’s RBI gives financial firms deadline to comply with new digital lending rules
The RBI says that the new rules will be applicable to both existing and new customers.
Fintech and its impact on the agricultural sector
Fintech can help connect farmers with finance and boost financial inclusion.
Danish fintech start-up Moneyflow lands €250m in debt financing
Moneyflow says the facility will help accelerate the rollout of its embedded finance services.
Europe fintech funding round-up: Justhome, Ryft and SageWealth
A fintech funding round-up featuring three start-ups from Europe.
Africa fintech funding round-up: Pezesha, Duplo, SubsBase, Grey and Anchor
A handy round-up of the recent funding endeavours of fintech companies across Africa.
Oxbury Bank lands £25m in Tier 2 capital funding
The capital facility will enable the bank to lend an additional £250m to British agriculture firms through to 2023.
Indian lendtech EarlySalary raises $110m Series D funding
EarlySalary will use the new funds to expand into new markets and increase its loan book.
Japan’s SMBC Group to launch Jenius Bank in the US
Jenius Bank will initially offer personal loans before expanding with savings and checking products.
Himalaya Exchange CEO Jesse Brown on weathering the crypto winter
FinTech Futures speaks with Himalaya Exchange CEO Jesse Brown about the future of crypto.
How mortgage lenders can unlock data and help bridge the housing gap
A borrower’s credit score is now one of their largest barriers to securing a home loan.
US real estate fintech Reali to close down
The firm will be laying off most of its workforce on 9 September 2022.
Capital on Tap lands £200m credit line from JP Morgan and Triple Point
Capital on Tap says the funding will help SMEs access credit at a time when the UK is anticipating a recession.
Egyptian BNPL firm valU acquires employee management fintech Paynas
Paynas provides employee management and payment services to MSMEs.
Two new mortgage start-ups launching in Latin America – Toperty and Saturn5
Toperty is based in Colombia and Saturn5 is based in Mexico City.
Saudi BNPL firm Tamara raises $100m Series B
The latest raise brings the fintech’s total funding to date to $216 million in equity and debt.
MVB Financial set to acquire Integrated Financial Holdings for $98m
MVB Financial is aiming to grow its government guaranteed lending business.
FCA tells BNPL firms to ensure ads are “clear, fair and not misleading”
The FCA is “proactively monitoring the market to ensure expectations are met”.
Covalto to become Mexico’s first US-listed fintech following SPAC merger
The deal values Covalto at $547 million and will see the firm listed on the Nasdaq exchange.
GB Bank receives full banking licence, set to lend £3bn over five years
The bank will support the creation of more than 100,000 jobs and 20,000 new homes.
Underwriting with alternative and cash flow data
Use of non-bureau, “alternative’’ credit data can help better understand the risk of a consumer.
FinTech Futures Jobs: Here’s how to position yourself as a leader at work
Explore thousands of open roles on the FinTech Futures Job Board today.
UK mortgage lender Perenna obtains banking licence
Perenna intends to offer long-term fixed rate mortgages in the near future.
Fintech start-up Arc lands $20m in Series A funding
Arc will use the funding to accelerate its growth and expand the availability of its treasury and software products.
P2P lender Assetz Capital agrees £200m funding partnership with Aeon
Over the next three years, Aeon will pour the cash into SME loans arranged by Assetz Capital.
Lendflow partners Ocrolus to streamline credit decisioning
Ocrolus’ document automation technology will help Lendflow better analyse more data.
Zopa founder Giles Andrews joins Hoares as non-exec director
Andrews founded Zopa in 2004 and is currently a member of the fintech unicorn’s board.
