The British Business Bank has added fintechs OakNorth Bank and Starling Bank to the more than 40 lenders in the...
The British Business Bank (BBB) has approved The Bank of India and Silicon Valley Bank to deliver the Coronavirus Business...
British Business Bank (BBB) is a government-owned entity designed to support small businesses in the UK through a fund with 1 billion British pounds ($1.27 billion); it currently has 85 million British pounds ($108 million) invested in the P2P lending industry; the Financial Conduct Authority's release of an update on the crowdfunding market last week noting a number of factors for further investigation has caused taxpayers to question the large allocation to the P2P lending sector; specifically John O'Connell, chief executive of the TaxPayers' Alliance, has said, "This is extremely concerning and taxpayers will want to know how this can be good use of their money."; according to a Freedom of Information request reported on by Business Insider, the allocations from BBB include 60 million British pounds ($76 million) invested with Funding Circle, 15 million British pounds ($19 million) invested with MarketInvoice and 10 million British pounds ($13 million) invested with RateSetter. Source
Media site Bridging & Commercial filed a freedom of information request into the British Business Bank's investments in P2P platforms; since 2014 the British Business Bank has invested 135 million British pounds ($168 million); commitments are made via the Business Finance Partnership Tranche (BFP) and the Investment Programme (IP); the details are outlined in the above chart. Source
The ENABLE Guarantee program is now open to non-bank lenders including asset-based loan providers; as part of the program the...
A sharp increase in UK venture capital (VC) fund performance over the last 12 months has been highlighted by a...
The British Business Bank is distributing an "Evaluation Report" on the impact of the COVID loan guarantees that indicates 150,000 to 500,000 businesses were...
Speaking at an event in London, British MP Lee Rowley has said that the fintech industry, rather than Brexit, will...
Almost a third of venture capital investment in the UK was done by the European Investment Fund (EIF) and since the Brexit decision was made this funding source has been turned off; while the British government has attempted to fill the void they have fallen short; "The pullback of the EIF puts the UK at a structural disadvantage compared to other European countries," Fred Destin, a London-based venture capitalist tells Politico; the EIF accounted for $2.7 billion worth of investment into 144 companies from 2011 to 2015 in the UK; the EIF has said they are just doing more diligence on the companies from the UK but the reality is that they have completely pulled back; the British Business Bank has announced plans to offer over $450 million in investments but venture capitalists have said they are unsure if the government can afford to do this in the long term. Source
A study of around 15,000 consumers in 15 different countries by Dutch bank ING found that the British are wary...