Borderless innovation is a broad topic, which includes global expansion, global networking, cross-country laws, global business opportunities and partnerships and a lot more. A few FinTech startups have been successful in global expansion.
TechCrunch: As crowdfunding sites like Tilt and GoFundMe and lending site Funding Circle raise large rounds to take their businesses to the next level, a startup that sits in the same area of web-based fundraising is trying a new approach. CircleUp, a crowdfunding platform for consumer brands to raise money from accredited investors, has closed a $22M fund of its own to back a range of brands on the platform.
WIRED: Funding Circle, a marketplace for business loans, is one of a growing number of companies working to upturn that trend, and bring an end to the lack of choice beyond the incumbents. The UK firm has leant more than $1.2bn in the past five years to thousands of businesses in UK and US, facilitating $100m of new lending every month. It has achieved this by operating in the same way some of the world’s most successful tech companies have. (more…)
FINOVATE: The alternative lending sector, especially in China, is soaking up funds at an unprecedented pace. This week alone, more than $750 million went to startup lenders, 80% earmarked to China (Lufax $485 million and Jimubox $84 million), while Funding Circle (London, $150 million), EZBob (London, $45 million), Smava (Germany, $16 million), and Assetz (London, $4.5 million) rounded out the sector’s inflow. Across the total fintech sector, 18 companies raised $1.03 billion this week. And three new unicorns were officially unveiled: Lufax, Funding Circle, and Oscar, a U.S. health insurance startup. (more…)
TECHCRUNCH: Time to make way for another startup juggernaut out of the financial world. Funding Circle — a London-based peer-to-peer platform for small businesses to get loans, and investors to put up money to finance those loans — is today announcing that it has raised $150 million in venture funding, in a round that we have confirmed values the startup at over $1 billion. While partial news of the financing leaked out earlier this month, now we have the full details. This latest round was led by DST Global, with participation also from Baillie Gifford, a fund managed by BlackRock, Sands Capital Ventures and Singapore’s Temasek. (more…)
TECHCRUNCH: During April, the nation will observe Financial Literacy Month – meaning it’s time to revisit the diverging roads to funding early-stage startups. The rise of non-traditional routes for raising capital, such as Kickstarter, has catalyzed a much-needed renaissance in funding options for entrepreneurs. With the passing of the JOBS Act, entrepreneurs have a bevy of new opportunities for raising seed funding, beyond the ever-illusive Silicon Valley checkbook. There are going to be complications associated with making sense of what funding route is best for your company and product needs, but sometimes the answer will reside in a combination of options. (more…)