Scalable Capital has completed a €30m funding round, led by asset management giant BlackRock alongside existing investors HV Holtzbrinck Ventures and Tengelmann Ventures.
Fintechs should work with banks, and APIs will sort the winners from the losers as the world moves towards open banking.
Fintech’s promise to transform finance has been stalled not killed and it is too early to judge what its long-term effects will be.
The latest iteration of the FinTech50 list is out, and alternative finance providers and digital banks account for a fifth of its constituents. Atom Bank, Monzo, N26, Revolut and solarisBank AG make up the banking challengers, with MarketInvoice, Iwoca, LendInvest, RateSetter and Seedrs representing the alternative finance sector.
RateSetter, one of the UK’s “big three” peer-to-peer lenders, has scooped £13m in equity investment from existing backers. Investors in the round included well-known fund managers Woodford Investment Management and Artemis.
Zopa scoops £32m in a new investment round led by Indian conglomerate Wadhawan Group, as it looks ahead to bank-build.
One of Canada’s Big Six takes a strategic investment in a robo-adviser startup, Nest Wealth. The Bank will also license the financial technology company's digital wealth management platform.
Last week saw the largest issuance of marketplace lending securitizations in the history of the nascent asset class with transactions totalling more than $1.23bn.
RateSetter hires Prudential chairman Paul Manduca as non-executive chairman.