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Tag Archive

109

Digital Bank Revolut Launches Business Expense Management Feature

via Crowdfund Insider 

Digital bank Revolut has integrated Xero, an SME accounting platform, to facilitate seamless business expense reporting. The Revolut for Business app has also been updated for team members to upload receipts and add expense information, according to a release from the company

The new “Expense Management tool,” is designed to help growing businesses more easily manage expenses. Business owners may now approve or reject team expenses, an area that has traditionally been difficult to manage. (more…)

Banks, SME

August 14, 2019

324

German Digital Bank Gets Backing of Billion-Dollar Venture Fund

via Bloomberg 

A Berlin-based fintech is trying to emulate the success that digital banks like N26 have enjoyed with retail customers by specifically targeting business clients.

Penta, which offers bank accounts for firms with up to 70 employees, has just won the backing of HV Holtzbrinck Ventures, one of Europe’s largest venture funds with more than 1 billion euros ($1.1 billion) under management. The fintech company — founded in 2017 — expects to increase its customer base to about 20,000 by the end of this year from over 8,000 at the moment. It plans to expand into Italy in the fourth quarter.

(more…)

Banks, SME

August 6, 2019

139

Tide, Starling Ramp Up Rivalry Over SMB Customers

via PYMNTS

The rivalry between U.K. challenger banks Tide and Starling continues to heat up as Tide signs on its 100,000th small business customer.

Reports in The Telegraph on Monday (Aug. 5) said the companies continue to compete for the small business customer base. Tide has on-boarded 100,000 small business customers, described by the firm’s chief executive Oliver Prill as a “very significant milestone.” (more…)

Banks, Open Source/ API, SME

August 6, 2019

367

Ex-Lazada CMO’s neobanking platform for SMEs, Aspire, raises US$32.5M to grow in Southeast Asia

via e27

Aspire provides SMEs with a 60-day, interest free credit line of up to S$100,000 to solve their working capital needs (more…)

Banks, Deals, InspirAsia, Singapore, SME

August 1, 2019

1386

SME Challenger Bank Judo Bank Receives Full Banking License From Australian Prudential Regulation Authority

via Crowdfund Insider

Judo Bank (formerly Judo Capital), an SME challenger bank, announced on Wednesday it was granted a full banking license by the  Australian Prudential Regulation Authority (APRA). According to the bank’s Chairman, Peter Hodgson, the full license means Judo will be able to significantly extend the scope and depth of services it provides to those businesses across the country.

Founded in 2016, Judo stated it is challenging the “one size fits all” approach of its much larger competitors because it believes every business is unique and should be treated that way.

(more…)

Banks, InspirAsia, Mobile-first banks, SME

April 24, 2019

431

UK Challenger Bank Redwood Surpasses £100 Million Lending Milestone

via Crowdfund Insider

UK-based challenger bank Redwood has reportedly surpassed £100 million in lending. As previously reported, Redwood is considered one of the newest additions to the future of banking, joining peers such as Monzo, Starling, Revolut and more. Redwood is on a mission to target the SME market and its products include mortgages for business owners and professional landlords, as well as a range of savings accounts. (more…)

Banks, Mobile-first banks, SME

April 10, 2019

1288

German fintech company builder Finleap acquires SME banking provider Penta

via TechCrunch

Just since months after raising $7 million in Series A funding, German SME banking provider Penta has been acquired by Finleap. Terms of the deal remain undisclosed, although I understand that the acquisition sees Finleap and Penta’s co-founders becoming the challenger bank’s sole owners, with all other shareholders exiting.

Launched in late 2014 by Hitfox Group and Ramin Niroumand, Finleap has developed 16 ventures from scratch, as well as acquiring a number of fintechs. Companies in its portfolio include banking platform solarisBank, of which Penta is a customer, and digital insurer Element, to name just two. (more…)

Banks, SME

April 2, 2019

1441

World’s fastest growing SME neo-bank announces Middle East expansion

via FinTech Magazine

Open, a neo-banking startup which offers business banking solutions for startups and SMEs, has announced that it will expand into the Middle East market. (more…)

Banks, Fintech news, Mobile-first banks, SME

March 22, 2019

Arival meets Revolut at Japan’s largest fintech summit

On September 26, Jeremy Berger presented Arival Bank at Fin/Sum2018, held in Tokyo. Arival was selected as one of the top 30 startups to pitch in front of executives from 500 Startups, SBI, MUFG, and other leading investment & financial institutions.

(more…)

Banks, SME

October 2, 2018

6641

Fintech fot SMEs: Payroll, Accounting, etc.

If you take a look at all the news about fintech startups, you might get a feeling that the new financial services are built for retail clients and not for businesses. However, these are the entrepreneurs who may become drivers of fintech. We should clarify what exactly do we mean by ‘SME’.

Read our full research “Money of the Future”. Download PDF (20MB)
(more…)

Fintech news, Global trends, Hotnews, InspirAsia, SME

March 25, 2016

Deals: BlueVine Raises $40 Million To Help Small Businesses With Cash Flow

By Katie Roof for Techcrunch.com,

Another big bet on fintech, Palo-Alto based BlueVine has raised $40 million to provide credit lines for small businesses. The round is led by Menlo Ventures, with participation from Rakuten, Lightspeed and 83North. (more…)

Deals, Fintech news

January 20, 2016

5884

Singapore’s true way to a cashless society

Vladislav Solodkiy, Managing Partner, Life.SREDA VC:

These days many countries are talking about the importance of innovations in the financial sector. Many of those are claiming that they will soon become the first to go completely cashless. They may be saying so, but what if they don’t really know how to do it? (more…)

Analytics, Banks, Cashless, Columns, Global trends, Government activities, Influences FinTech

August 17, 2015

5808

13 fintech services useful for SME

Vladislav Solodkiy, Managing Partner, Life.SREDA VC:

If you take a look at the news about fintech startups, you might get a feeling that all the new financial services are built for retail clients, but not for businesses. However, these are namely the entrepreneurs that may become drivers of fintech, especially in Asia.  (more…)

Columns, SME

August 5, 2015

1563

Crowdfunding For Small Firms

The Economist: Crowdfunding is just one of a number of ways in which European SMEs, typically far more reliant on bank financing than their American counterparts (see chart), are trying to compensate for the continuing decline in bank lending. Others include issuing publicly tradable debt or equity; placing securities privately with institutional investors; and accepting loans from non-bank financial institutions (“shadow banks”). Banks and others are also securitising loans to SMEs (ie, pooling them, dividing the pool into tranches with different degrees of risk, and selling the resulting securities to investors). Governments are keen to promote all this, to limit the economic harm done by sickly banks.  (more…)

Crowdfunding/investing, Fintech news, news

June 1, 2015

2866

Maybank partners Maxis to introduce mPOS service for SMEs

THE ASIAN BANKER: Maybank has partnered with Maxis Berhad to launch the Maybank mPOS service which enables SMEs to leverage the benefits of wireless payment mobility for business growth. (more…)

Fintech news, InspirAsia, Malaysia, news, POS/mPOS and online acquiring

January 27, 2015