News Briefing - Crowdfunding, SME And Alternative Finance

many hands in a circle

1.UK – P2P

Citywire on a major rebranding.

“P2P Global Investments (P2P), the pioneering direct lending investment company that captured investor excitement over peer-to-peer platforms five years ago, has changed its name in a move that symbolises investor disenchantment with the sector but could also pave the way for a recovery in its fortunes.

Earlier this month the company rebranded as Pollen Street Secured Lending (with a new ticker of PSSL) to reflect the name of the fund manager, debt specialist Pollen Street Capital, that has run the £600 million, high-yielding, listed fund for the past two years.

The name change also makes crystal clear the company’s new direction under Pollen Street, which also manages the more successful Honeycomb (HONY) loan fund.

Pollen Street has moved the portfolio away from the unsecured consumer loans P2P first bought from the new wave of online lending platforms springing up in the UK, Europe and US. In their place it has focused on property-backed and structured loans believed to offer more reliable returns and better downside protection.”

2. UK – AltFi

AltFi reports:

“The Money and Pensions Service has launched the Pensions Dashboards IDG Steering Group to further drive a shake-up of the pensions market.

The Steering Group has been formed to work on the practicalities of establishing pensions dashboards services and making them available for use by the general public.

Romi Savova, CEO of PensionBee, will join nine others to help with pensions innovation to help consumers, fintechs and the broader pensions sector deal with gital disruption.”

3. International – FinTech

Crypto Globe looks at the state of play at the major crypto exchanges – Binance, Coinbase, Gemini, etc.

4. International – FinTech

Crowdfund Insider reports on the Gibraltar Blockchain Exchange.

“The advent of blockchain technology highlighted how “smart contracts” or code could be embedded into these digital assets to facilitate certain services that have long been analog.

Much of the initial benefits will be from the removal of intrinsic friction or streamlining previously manual processes that cost money and man-hours. But beyond interesting economics, some industry followers see a future of new securities based on old concepts but using new tech.

The Gibraltar Stock Exchange, and the Gibraltar Blockchain Exchange, was an early entrant in the regulated digital asset sector recognizing the benefit of the new technology.

Security Token Academy is a thought leader in this transition to digital securities which is taking place globally at an increasing velocity.

Recently, Crowdfund Insider spoke to Nick Cowan, Managing Director and Founder, Gibraltar Stock Exchange (GSX), along with Derek Edward Schloss, Director of Strategy, Security Token Academy, to ask them about their up-close perspective on the emerging digital asset realm of finance.”

5. International – FinTech

AltFi reports:

“Swedish payments fintech Klarna has now passed 3 million active UK users, in the past 12 months.

The international payments provider has now partnered with over 170,000 merchants globally, it says with more than 100,000 UK shoppers downloading its app in August.

Luke Griffiths, General Manager at Klarna UK, said: “The growth we’ve seen since launching in the UK has been astounding, but I’m particularly proud of what we’ve been able to achieve in the last 12 months. Not only have we grown exponentially in terms of volumes and partners, but we’ve also grown our footprint across the UK with the launch of our Manchester office earlier this year.”

Klarna hit a $5.5bn valuation earlier this summer and had over 12m transactions in the past year.”