The Series A funding round in Causal was led by Coatue, the investment management firm and Accel, the venture capital outfit, with funding also coming from Yelp CEO Jeremy Stoppleman and FTX CEO Sam Bankman-Fried.
UK based Pia, personal investment assistant, is testing their new aggregator platform to help people find the best digital wealth advisor; “We spent time speaking to people who said we need to launch a product that’s far more accessible, interesting and engaging for somebody that doesn’t have a lot of investing experience and don’t know where to start,” said co-founder James Mackonochie to TearSheet; the difference between Pia and a typical aggregator site is they will use an AI powered chatbot to customize the user experience. Source.
Oxbury is a Chester-based challenger bank which looks to smooth out cash flow for farmers; according to James Farrar who...
Money Platform has launched in the UK with full authorization from the Financial Conduct Authority; the platform provides short term personal loans and seeks to offer a more affordable solution than payday loans; it will include 3 to 12 week loans of up to 1,000 British pounds ($1,255) with interest rates ranging from 0.3% to 0.7% per day; the platform is targeting 12% net returns for investors and will retain 35% of the interest payments from each loan; overall the most a borrower will pay in interest on the platform is 165%. Source
Commercial credit data sharing scheme (CCDS) is a market solution providing data sharing for alternative lenders in the UK; the CCDS was launched on April 1, 2016 and is now nearing full integration which means the majority of mandated banks have implemented systems to share their data with UK credit agencies; CCDS will provide current account banking data to credit agencies for approximately 98% of small businesses in the UK which is expected to help improve credit underwriting and broaden credit availability. Source
KuCoin announced that it has become the first major exchange to support Brazilian Real (BRL) deposits and withdrawals following a recent policy change made by the Central Bank of Brazil.
Financial infrastructure platform Fidel API has raised $65m in a Series B round led by Bain Capital Ventures, bringing its total funding to date to $88m.
Alven, a Paris-based early-stage backer, announced on Wednesday that it has closed a €350M fund to back European entrepreneurs at Seed and Series A stages. ...
Writing in AltFi Steven Bisoffi, Payments Advisory Lead at Huntswood, asks if 2019 will be the year that open banking will...
Monument, which plans to do mass affluent banking better than its competitors, aims to reach profitability within 24 months of launch.