News Briefing - Crowdfunding, SME And Alternative Finance

Panel of experts discusses investment crowdfunding

1.UK – FinTech

 

The Peer-to-Peer Finance Association (P2PFA) is no more. AltFi reports.

“The peer-to-peer trade body has been axed and its members will join a trade group for the wider financial technology industry.

The self-regulated Peer-to-Peer Finance Association (P2PFA) was set up in 2011 to lobby for regulation.

It was initially set up by founding members Zopa and Funding Circle and its other members include CrowdProperty.

The trade body was thought to have had just a handful of staff including Robert Pettigrew, director.  Its chairman is Paul Smee, who was previously Director General of Mortgage Lenders.  It was closed by its members.”

2. UK – FinTech

 

Executive moves at LendInvest, reported by Crowdfundinisider.

 

LendInvest, one of the UK’s leading Fintechs that provides a marketplace for property finance, has announced that its co-founder and longtime Chief Executive Officer Christian Faes is stepping down from his role and moving into the Executive Chairman position. As of today, Rod Lockhart is the new CEO of LendInvest.”

 

3. International – FinTech

Slightly off-centre, but here's a fascinating development from China. Venture Beat reports.

“A court in Shenzhen, China, has ruled that an article generated by artificial intelligence (AI) is protected by copyright, according to state news outlet China News Service, representing a notable milestone for AI’s credentials as a creative force.

For the past five years Chinese tech titan Tencent has published content produced by automated software called Dreamwriter, with a focus on business and financial stories. In 2018, an online platform operated by a company called Shanghai Yingxun Technology Company replicated an AI-generated financial report from Tencent on its own website. The article included a disclaimer that said it was “automatically written by Tencent Robot Dreamwriter”; however, the court found that the article’s articulation and expression had a “certain originality” and met the legal requirements to be classed as a written work — thus it qualified for copyright protection.”

4. International – FinTech 

Crowdfundinsider reports on a conference on an emerging Latin American market.

“Whenever there’s opportunity, the money flows. There’s no exception here to a 400 million people market. Latin America is the next fertile ground for homegrown venture capitalists and international money when it comes to Fintech.

U.S. and international VCs are on the hunt for the next LatAm Fintech unicorn. Everyone is vying for these elusive entrepreneurs that will take home the trophy. Five to seven years ago, it was difficult to find any sort of money to fund your startup in the regions, however, the capital markets have shifted dramatically.

Mike Packer of QED Investors, Fabrice Serfati of Ignia, Marcelo Lim of Monashees and Ishan Sinha of Point72 Ventures shared their experience as an in-country investor and overseas investor with Ben Sabloff from AQN Strategies moderating.”

 

5. International – FinTech

 

Australia is booming, according to AltFi.

“Australia saw over $1.4bn raised by fintech companies in the country in 2019 across 38 deals, a new record, thanks to rising numbers of funding rounds above $100m, according to data from the FinTech Global.

Of this total nearly three quarters (72.8 per cent) was invested in transactions valued at or above $100m while the amount invested in deals below $100m has remained fairly flat since 2017. 

Last year’s record fundraising accounted for nearly half (47 per cent) of the total capital raised in the country over the past four years . Of the top 10 deals, one was raised in Q1 2019, one in Q2 2019, six in Q3 2019 and two in Q4 2019.

Wealthtech and marketplace Lending companies are the most popular areas for investment, accountinng for nearly 60 per cent of fintech funding in Australia since 2015. Wealthtech companies are responsible for 31.4 per cent. Marketplace Lending companies in the country account for 26.9 per cent of investment in the country between 2015 and 2019. The largest deal of 2019 was raised by AMP in Q3 2019. AMP offers wealth management solutions to customers in Australia and New Zealand. The company raised $650m in a Post-IPO-equity round in August 2019.”