Iwoca lands £200m debt facility from Barclays and Värde Partners
With the new facility, Iwoca plans to meet the “growing demand” among SMEs for working capital.
LendTech
Republic Bank of Arizona taps Biz2X for business lending platform
The bank wants to “make it easy for Arizona businesses to get the capital they require for growth”.
Francesca Carlesi steps down as CEO of digital mortgage lender Molo
Carlesi is to depart Molo, which she has led since its inception in 2018, on 25 November 2023.
Bahrain’s Flooss taps Tarabut for open banking-powered lending
Flooss is adopting Tarabut’s Income Verification product, enabling direct access to customers’ income information.
Investree to launch Qatar lendtech hub following $231m Series D
The round also saw participation from existing investor SBI Holdings, and succeeds the platform’s $23.5m Series C.
Clearco completes recapitalisation, secures $60m Series D funding and $100m financing facility
The recapitalisation comes after the Canadian growth capital firm carried out significant job cuts over the last year.
Banking Technology Magazine October 2023 issue out now
Cover story: NOTHING VENTURED – Tips for raising capital.
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Central Bank of Ireland proposes minimum knowledge requirements for credit union workers
The reforms will take effect from 1 October 2024 and will incur a four year transition period.
Video: Axefinance at Sibos 2023 – automating the credit lifecycle
At Sibos 2023, we caught up with Axefinance CEO Dhafer Berrachid and CCO Chris Kneen.
Report: Business resilience and continuity in financial services
How to establish a rapid and robust response to risks with access to the right tools.
Bluestone Group to part ways with Irish motor finance business following sale to Close Brothers
Following the completion of the sale, Bluestone intends to increase its focus on its fintech business Fignum.
UK SME lender Fleximize secures £136m financing from Goldman Sachs and Citi
The financing will be used to redeem existing debt, expand lending operations and accelerate Fleximize’s growth.
UK alternative lender ThinCats secures nearly £700m in funding facility
The new facility will help ThinCats support lending of up to £696 million to mid-sized businesses in the UK.
HSBC UK taps Nova Credit for international consumer credit data
HSBC previously invested $10 million in Nova Credit’s Series B round in September 2022.
India’s Samunnati signs for Finbots.AI’s CreditX AI credit modelling solution
The deal marks another step in Finbots.AI’s push to scale across APAC.
ICYMI fintech funding round-up: Fipto, Form3, Immix, Emata & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
New digital bank JB to launch in Saudi Arabia
The new venture is described as a “digital leasing and lending platform”.
Amplifi Capital lands £100m securitisation warehouse with NatWest for Reevo Money expansion
Amplifi Capital previously received £50 million in debt funding from M&G back in June.
Scottish challenger Alba Bank scales leadership team with two new appointments
Robert Sharpe and Andrew Lewis join as chair of the board and chief risk officer (CRO), respectively.
US fintech Ampla secures $258m credit facility with Goldman Sachs and Atalaya
Ampla connects consumer brands with embedded banking, bill pay, growth capital and corporate card solutions.
UK start-up Perenna secures unrestricted banking licence from FCA and PRA
The London-based start-up becomes one of the first firms to secure an unrestricted bank licence in 2023.
Irish lender Wayflyer lands $1bn financing deal with Neuberger Berman
Wayflyer plans to deploy the capital to its 3,000 global e-commerce clients.
Banking Technology Magazine September 2023 issue out now
Cover story: WINDS OF CHANGE – Squaring the circle on climate change.
Better.com’s share price stumbles on Nasdaq debut
The New York-based digital mortgage lender went public through a SPAC merger this week.
Auxmoney buys majority stake in Dutch credit marketplace Lender & Spender
With the stake, Auxmoney plans to build upon its “continuous organic growth” of recent years.
Video: AI – friend or foe to financial services?
Fintech experts share their views on the impact of AI on financial services.
EIF provides Lithuania’s SME Finance with €40m to fund small business lending
SME Finance CEO says the agreement with EIF allows it to offer financing to businesses “on significantly better terms”.
Payroll fintech OneBlinc secures $100m credit facility with Clear Haven
The fintech landed $20 million in a Series A funding round in June 2022.
Mexican challenger Klar lands $100m debt facility to expand credit product offerings
The new facility has been provided by US investment firm Victory Park Capital.
The Savings Bank Group of Finland taps Tietoevry to replace lending platform
The Savings Bank Group says the new lending platform will enhance its digital offerings and operational efficiency.
Better.com gears up to go public through SPAC merger
According to an SEC filing, the merger is set to close “on or about” 22 August 2023.
Indian fintech start-up Credgenics secures $50m Series B funding
The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors.
SumUp secures $100m credit facility to expand merchant cash advance product
The facility is being provided by Chicago-based investment firm Victory Park Capital.
Svatantra to acquire Navi Group’s microfinance subsidiary for $178.6m
On completion of the deal, Svatantra says it will become the second largest microfinance entity in India.
Webinar | 28 September 2023: Revolutionising SME financing – how Banca AideXa uses AI decisioning platform & open banking
Learn what tools and tech enable Banca AideXa to provide quick and efficient loans to SMEs.
Private debt platform Cordada taps Thought Machine for core banking tech
The Chilean firm will use Thought Machine’s Vault Core to develop personalised financial products.
WaterStone Bank taps nCino for cloud banking platform
The bank says it wants to enhance the lending experience for its customers by moving to a single platform.
Automotive lending platform GoFi taps Provenir for credit risk decisioning
The Texas-headquartered company has implemented Provenir’s Data and Decisioning Platform.
