US fintech lender Fynn nabs $36m in seed and debt funding
With the new funding, Fynn plans to expand across the US and offer its services to more students.
LendTech
Equiniti unites trio of businesses under new lendtech brand, Lenvi
Lenvi is a combination of Equiniti’s EQ Credit Services, EQ Riskfactor, and EQ KYC Solutions.
UK lender Abound secures £500m in equity and debt financing
The company plans to grow its loan book and boost its staff headcount.
Aussie BNPL firm Zip reportedly set to retreat from 10 international markets
Zip expects “significant” amounts of cash to roll in due to these exits, with positive cashflow expected by 2024.
BNPL giant Klarna posts £1bn loss for 2022
Despite the loss, the firm says it is edging towards profitability thanks to growth in its gross merchandise volume.
Banking Technology Magazine March 2023 issue out now
Cover story: FACE OFF – Confrontation can be a good thing.
Shawbrook Bank taps Pegasystems for automated underwriting solution
Pega claims its low-code platform will save Shawbrook underwriters 1,500 hours a month.
Northern Ireland renaissance: how US companies sparked Northern Ireland’s global fintech hub
Northern Ireland is the world’s top region for both new software development and fintech inward investment projects.
Wells Fargo lays off hundreds of its mortgage bankers
The job cuts were made in response to “significant decreases” in mortgage volumes, Wells Fargo says.
Property analytics firm CoreLogic acquires mortgage tech platform Roostify
The acquisition will see CoreLogic integrate Roostify’s platform with its own data, analytics and workflow solution.
Co-operative Bank reportedly eyeing Sainsbury’s Bank’s £650m mortgage book
The Co-operative Bank is the frontrunner amid a bidding war being run by consultancy Deloitte, Sky News reports.
Buy now, worry about it later: the future of BNPL
Buy now, pay later – is there a more apt fintech application for our times than BNPL?
Video: Highlights from the exclusive global launch of Leda Glyptis’ book, Bankers Like Us
Take a look at the highlights from Leda Glyptis’ global book launch.
UK government lays out plans for BNPL legislation
The UK government is looking to bring BNPL into the regulatory sphere “in a proportionate way”.
Banking Tech Awards 2022 Winner: Updraft – Best Digital Initiative for Lending
Reinventing financial planning and disrupting unsecured lending markets.
SME lender Merchant Money scores £115m in funding
The funding will grow Merchant Money’s lending books across its secured and unsecured product offerings.
Banking Technology Magazine February 2023 issue out now
Cover story: HAPPY DAZE – Banking for cannabis businesses boosted.
Banking Tech Awards 2022 Winner: Finova – the mortgage market is in a tangle & we need new tools to fix it
Combine algorithmic price optimisation with powerful ML techniques, and you’ll have a robust tool for performance analytics.
South African digital lender Lulalend bags $35m Series B
Lulalend will look to increase its loan book size and develop new products.
US lender Upstart to cut 20% of jobs in bid to return to profitability
Upstart is also suspending development of its small business loan product.
Nano sells home loan book to AMP Bank as it pivots to tech focus
Nano plans to wind down its home loan services and focus on providing technology to financial services companies.
Liberis lands €30m in debt financing from Silicon Valley Bank UK
The funding will support Liberis’ targeted expansion across the Nordics and Europe.
Marqeta makes first M&A foray with $275m Power Finance deal
The acquisition, Marqeta’s first, will “significantly boost” the firm’s credit product capabilities.
UK mortgage lender LiveMore bags £250m credit facility from Citi
The new funding facility will enable LiveMore to increase loan originations and grow its portfolio.
B2B BNPL platform Tranch raises $100m in debt and equity
$5 million have been raised in equity while the rest – $95 million – have been taken on as debt.
Open letter calls on UK government to boost SME credit access
The letter has been co-signed by Codat, Atom Bank, Funding Circle, Iwoca, Allica Bank, SPRK Capital and others.
Freedom Finance names Richard Parfitt head of data science
Parfitt will be tasked with leading Freedom Finance’s data products initiative.
FCA greenlights Nova Credit to provide credit references for new arrivals
Nova Passport collates cross-border credit bureau data to help businesses underwrite new-to-country individuals.
ICYMI fintech funding round-up: Ascendant, Evergreen, Kwara, Pilon & more
Featuring Ascendant, Evergreen, Komunal, Kwara, Pilon, and Sprinque.
US fintechs Core10 and Union Credit secure funding
Two fintech companies in the US – Core10 and Union Credit – have reported funding this week.
Oracle Flexcube core banking system gains new takers
The banking tech vendor also signed licence fees of $27.5 million in the latest quarter.
LendingClub to cut 225 jobs as interest rate rises impact loan demand
Company execs say the layoffs are a result of “reduced marketplace revenue” due to interest rate increases.
Get recognition at this year’s Banking Tech Awards USA
Nominations for the 2023 awards are now open – apply today!
New consumer lending fintech Salmon launches in the Philippines
Salmon claims to have over 2,000 customers and over 30 merchant partners for its lending product.
2023: the final countdown for incumbents versus challengers
If incumbents fail to adapt in 2023, challengers could gain the lion’s share of the market once and for all.
Video: Highlights from the latest Banking Tech Awards
An incredible evening with nearly 500 guests celebrating the best and brightest in banking technology and fintech.
UK specialist lender Connect makes new senior hires for “ambitious growth”
Founder and CEO Liz Syms says the new hires will help deliver on Connect’s “ambitious plans”.
Funding Circle appoints Steve Allocca as US managing director
Prior to Funding Circle, Allocca was chief operating officer (COO) at small business banking provider BlueVine.
Mortgage tech firm Twenty7tec acquires Broker Sense and Meet Parker
The deals follow Twenty7tec’s acquisition of fellow UK fintech Bluecoat Software in June last year.
KreditBee extends Series D funding round with additional $100m
The news follows KreditBee’s $80 million fundraise as part of its Series D funding round last month.
