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Peer2Peer Finance News | August 21, 2018

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Industry News

UK needs skills revolution to counter AI job threat, warns BoE

August 20, 2018 |

THE UK needs to undergo a skills revolution to ward off the threat to job losses caused by artificial intelligence (AI), the Bank of England’s chief economist Andy Haldane has warned.

Speaking on Radio 4’s Today Programme, Haldane said that … Read More

Welendus launches third crowdfunding round

August 20, 2018 |

WELENDUS has launched a new crowdfunding round on Seedrs to raise £850,000.

The peer-to-peer short-term loans platform has already raised 95 per cent of the target privately and now has made its listing public.

It is the third Seedrs fundraising … Read More

Augmentum’s fintech fund invests £7m across three firms

August 20, 2018 |

UK-LISTED fund Augmentum Fintech has spread a £7m investment across three firms in the sector.

The investment trust has made a £3m investment in small- and medium-sized enterprise (SME) challenger bank Tide, alongside £2m in supplier payment firm Previse and … Read More

China recruits state-owned banks to save troubled P2P sector

August 17, 2018 |

FINANCIAL regulators in China have consulted with state-owned asset managers to help resolve a crisis emerging in the country’s peer-to-peer sector, according to reports.

Hundreds of P2P investors have faced issues with withdrawing funds, defaults or platform owners simply disappearing, … Read More

Landbay continues expansion with Midlands hire

August 17, 2018 |

LANDBAY is continuing its expansion with the appointment of Rob Stanton as a regional account manager for the Midlands.

Stanton (pictured) joins the buy-to-let mortgage lender from specialist bank Paragon, where he spent 15 years as a senior underwriter and regional … Read More

Specialist lending softens in June amid weaker business demand

August 16, 2018 |

ACTIVITY in the specialist lending markets softened in June, driven by a weaker appetite for business investment.

In the asset finance sector, lending volumes declined three per cent year-on-year to £3m in June, but gained five per cent year-on-year in … Read More

Funding Circle fund begins shift from US loans

August 16, 2018 |

FUNDING Circle’s dedicated investment trust expects its US exposure to fall to 22 per cent over the next two months as it continues its migration to focus more on UK and European loans.

A July update from the Funding Circle … Read More

Interest rate rise spells good news for P2P platforms

August 16, 2018 |

THE BANK of England’s decision to increase the base rate is beneficial for peer-to-peer lending platforms, RateSetter has claimed.

At the start of August, the Bank raised its interest rate by 0.25 percentage points to 0.75 per cent, taking it … Read More

Assetz Capital sees £50m IFISA boost

August 15, 2018 |

ASSETZ Capital has received a £50m boost from its Innovative Finance ISA (IFISA).

The peer-to-peer business lender revealed £50m has been invested into tax wrapper since its launch at the beginning of the year.

Stuart Law, chief executive of Assetz … Read More

Lendy appoints former banker as NED

August 15, 2018 |

PEER-TO-PEER property lender Lendy has appointed Nigel Boothroyd, the former HSBC corporate banker, as a non-executive director (NED).

Boothroyd (pictured) spent 38 years at HSBC Group and his last position was regional head of Lending & Transaction Management, Europe.

He … Read More