China’s Ant Financial Services Group is planning to raise up to $5 billion in fresh equity that could value the online payments giant at more than $100 billion.
The European online alternative finance market grew by 41 per cent to 7.7 billion euros in 2016, according to the 3rd annual European Alternative Finance Industry Benchmarking Report by the Cambridge Centre for Alternative Finance.
Alternative lending platform Spotcap has formed a partnership with Bawag Group, marking the start of its licencing business. The partnership, Spotcap’s first within the DACH region, will enable Austrian SMEs to access same-day funding by leveraging the platform’s lending technology and analytics.
In what has become an annual exercise, AltFi Data has unveiled its projections for 2018 lending volumes. Each of the core marketplace lending sectors covered – the UK, EU and US – is expected to produce significant origination growth in 2018, with Continental Europe leading the way.
Banco BNI Europa was launched in July 2014 as a digital-only bank in Portugal. Banco BNI Europa says it aims to challenge the traditional banking sector through strategic partnerships with fast-moving fintech businesses to launch new products allowing the use of the most advanced technology in terms of risk analysis, consumer experience and rapid entry into the market.
Overall, the European alternative investment market grew by 43 per cent to €7.7bn (£6.8m) during 2016 according to the third annual European Alternative Finance Industry Benchmarking Report by the Cambridge Centre for Alternative Finance (CCAF).
The European Investment Bank has doubled down on its commitment to Lendix – the leading marketplace lender for small businesses in Continental Europe. The supranational bank first committed €18.5m to fund SMEs via the Lendix platform in July.
The Funding Circle SME Income Fund has entered into a formal agreement with Citibank to establish a funding transaction to make loans to UK small businesses through the Funding Circle platform.