The cofounders of Kabbage -- CEO Rob Frohwein, and president Kathryn Petralia were interviewed at 2019 LendIt conference, who shared how they’ve built a company that has extended $6 billion in credit to 165,000 people in the United States.
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Goldman Sachs Group Inc. is making another bet on a Latin American financial-technology startup, providing a secured credit facility of as much as $100 million to Mexico’s Konfio Ltd. The transaction will help Konfio, which provides unsecured working capital to small and midsize companies, lend about $250 million in the next 12 months, according to Da
In one of largest seed rounds in Mexico´s history, Fintech minu has raised $6.5 million from investors like Village Global as well as multiple angel investors. Village Global is the impact fund backed by big names like Bill Gates, Mark Zuckerberg and Jeff Bezos.
News via Crowdfundinsider.
While initial forms of platforms have been around for centuries, more prominent ones have emerged in the last 15 years with the rise of the internet. New models which connected initially developer applications and customers arose (the first softwares), eventually connecting people together, sellers and buyers, hosts and visitors, drivers with people who need a ride etc.
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Sharing this interesting video from Asian Development Bank about credit guarantee system expand ing finance for Mongolia’s SMEs. A project is now helping commercial banks lend more easily to SMEs by backing Credit Guarantee Fund’s credit guarantees.
The 3rd Annual Americas Alternative Finance Industry Report aims to provide readers with a snapshot of the rapidly changing alternative finance landscape across the Americas at a macro level as well as on a country-by-country basis. This empirical study provides independent, systematic, and reliable data about the size, growth, and diversity of various online alternative finance markets across the Americas, in turn, informing evidence-based policymaking and regulations.
Member Kabbage — a fintech startup backed by SoftBank that has built a business around lending up to $250,000 to small and medium enterprises, using AI-based algorithms to help determine the terms of the loan —has acquired Radius Intelligence, the marketing technology firm that has built a database of information on some 20 million small and medium businesses in the U.S. Terms of the deal are not being disclosed.
News via TechCrunch.com
According to a fintech holding company, Robocash Group, the popularity of “P2P lending” in Asia has grown tremendously.
Robocash Group analysed search queries related to P2P lending using statistics on Google Trends and Google AdWords
Article via Entrepreneur.com
Robo.cash, a consumer lender that operates in several European countries as well as Southeast Asia, reports that interest in peer to peer lending in Eastern Europe is increasing. The online lender states that growing volumes of the East European market confirm the indicators as from 2015 to 2017 they increased by 153%. Robo.cash posits that the main reason popularity is growing in Eastern Europe is that these economies are experiencing more rapid development.
Mexico-based fintech Credijusto, which offers asset-backed loans and equipment leases to small and medium-sized enterprises (SMEs), announced today that it has raised a $42 million Series B financing round led by Goldman Sachs PSI.
News via Reuters.
