Biz2Credit closes $52m Series B round
Bix2X platform aims to improve access to working capital for SMEs.
Lending
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SoFi confirms $500m investment led by Qatar
SoFi’s total capital now stands at $2.3 billion.
Half of SMEs are getting paid after 72 days
More than one-third of start-ups and SMEs are suffering with cash flow issues, with a total of £26bn owed to them.
Capgemini powers Skandiabanken’s new mortgage platform
The new tech uses the Pega Platform, the digital process automation (DPA) platform from Pegasystems
Instalment payment option added to lastminute.com via Divido
This provides instant access to credit by connecting shoppers to multiple lenders at the moment of purchase.
Allegacy FCU takes Fiserv core and other applications
The institution is understood to be replacing FIS’ old Miser system.
Wagestream raises £40m for “get-paid-as-you-earn” service
It is the UK’s largest pool of social impact investment.
Why Iron Man is the ultimate mortgage broker
“Iron Man” – super-powered, not totally automated.
Swedish refinancing start-up Anyfin eyes European expansion with €8m investment
The extended Series A round brings total investment to €13.3 million.
Finastra’s Fusion LenderComm on blockchain signs up three new big banks
BNP Paribas, Natixis and Societe Generale join NatWest.
Credit and payments app Twisto raises €14m
As it tries to expand throughout Central and Eastern Europe.
Royal Banks of Missouri adopts POPi/o video banking
Community bank is an early adopter of collaborative video banking.
BlueVine and GovQuote team up to fund SMEs
SLED agencies can take advantage of GovQuote’s technology to get quotes and a complete digital record for compliance.
CBANC acquires Lendwell
Terms of the transaction were not disclosed.
Klarna brings its alt payment options to retail shops
Bringing pay later to consumers in stores.
Top fintech stories this week – 3 May 2019
May issue is out!
Broadridge acquires Rockall for securities lending
Financial details were not disclosed.
Iress gains MSO deal from Principality Building Society
The Society was looking for new technology for its mortgages.
Finitive gets $6m funding for alternative lending investments
Investors can now access non-bank lending sectors.
All tests are not created equal: choosing the right psychometric-based credit tool
Helping to navigate through the various vendors and products available in the alternative credit scoring space.
Equifax acquires PayNet to boost SME credit access
PayNet CEO says deal will support “Main Street American business”.
Avant settles FTC unfair loan servicing charges for $3.85m
The online lender faced multiple charges of “deceptive” practices.
SoFi could secure Qatar investment for $500m round
Details of the deal are yet to be finalised.
LendingClub shuts down SME lending arm
And redirects to alternative businesses.
Societe Generale issues €100m of bonds for housing financing
These security tokens offer a range of advantages, says the bank.
Challenger bank Masthaven receives £60m investment
Masthaven aims to significantly increase lending to SMEs and consumers.
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Indian lendtech ZestMoney raises $20m
The firm is already looking to expand in Singapore.
Credit Kudos works hard for a £2.2m funding round
Led by Ascension Ventures.
Mastercard acquires Vyze for point-of-sale financing
The ai Corporation has also implemented Mastercard’s Pay by Bank feature.
CHL Mortgages picks Jaywing for IFRS 9 monitoring
The provider began work on the project by providing independent model validation to CHL.
Raisin partners with Commerzbank for special fixed-term deposits
The partnership will start with German credit institutions such as Grenke Bank, NIBC Bank and Gefa Bank.
Vision Blue acquires Cardiff-based SamePage
Both firms are happy about how the GDFC deal went.
Australian challenger 86 400 partners with Vow Financial for home loans
As it seeks the regulator’s licence to deliver its own home loans.
ClearScore partners with Raisin UK to offer savings accounts
App now provides access to online savings marketplace.
New funding values personal finance app Fintonic at €160m
Follows €19m investment round led by ING Ventures.
Finicity Partners accelerates Pulte Mortgage’s asset verification
Reducing the time-consuming, manual, and paper-intensive process “from weeks to minutes”.
Forward Financing to build on growth with $90m credit facility
Deal is described as “transformative” for the company.
Kabbage pulls in $700 million in debt funding
It claims to be the largest asset-backed securitization by a small business online lending platform to date.
