11 Sep 2017
I am often asked what the key attributes are that we look for in FinTech businesses. Picking a future “unicorn” is far from an exact science, and the earlier you invest the greater the risk you are taking on.
If we were to invest in 20 “Series A” companies in our next fund, statistically, we would expect 6-7 of them to generate the return required to deliver our investors a great outcome. They would have to compensate for those that have not fulfilled their potential. Assuming we pick the right cohort, we will have engaged with over 2000 companies to get to that point.
Our future is contingent on ensuring we filter our pipeline effectively, but also to make sure that those we work with are businesses we can truly add value to. It is inevitable that we will reject businesses that will become great successes, and one only needs to look at Bessemer Ventures’ “anti-portfolio” to emphasise that point.
We are looking for disruptive FinTech businesses with great potential, that can truly scale to become leaders in their space. It is often not the idea that we reject, but the approach that the start-up is taking, or more likely that the team seemingly lacks the right blend of experience to deliver an incredibly ambitious idea that requires seamless execution.Go to Article
11 Sep 2017
London’s crown as the global capital of fintech is under threat by the decision to leave the EU amid worries about a squeeze on future funding and a brain drain of talent out of the UK. The UK has been at the forefront of the fintech — financial technology — revolution of the lending, money transfer and banking markets, supported by government initiatives to help investment in a fast growing sector. But this could easily change, according to company executives and investors, some of whom have begun to question their future in the UK. “We have already taken calls from prospective investors in our next fund, questioning their future commitment to UK tech,” said Tim Levene, founder of Augmentum Capital, a venture capital fund backed by Rothschild.Go to Article
08 May 2017
In a statement, Jeff Lynn, CEO and co-founder of Seedrs, said: "Secondary markets are challenging to operate successfully, and we are very conscious of our obligation. That is why we are launching this product in beta form initially, so that we can observe behavior and make improvements as we go."
In the same statement, Tim Levene, managing partner at one of Seedrs' core investors, Augmentum Capital, claimed the "announcement today (Monday) is a game changer for the equity crowdfunding space."
"In order for the industry to truly scale," he said, "a secondary market is essential. It will create a real opportunity to provide early investors with returns, and make this asset class more attractive to new investors." The theory is that more investors will be attracted if they know they can get their money out fast – provided there is a buyer.Go to Article
17 Mar 2017
The UK-based lobby group for the fintech startup community has appointed eight special envoys to help spread its message of financial innovation around the world.
Innovate Finance, which represents around 200 UK startups, announced those involved in it Goodwill Ambassador Programme in a statement today.Go to Article
12 Sep 2016
Tim Levene, founder of Augmentum Capital, a fund backed by Rothschild, said these “true disruptive” players will often take time to become big enough to be profitable and require meaningful capital, but are not hampered by “the bureaucracy and sluggishness of an existing goliath”.Go to Article
27 Jun 2016
“We have already taken calls from prospective investors in our next fund, questioning their future commitment to UK tech,” said Tim Levene, founder of Augmentum Capital, a venture capital fund backed by Rothschild.Go to Article
12 Apr 2016
Tim Levene, founder of Augmentum Capital, which invests in fintech, said: “Existing financial institutions will find themselves at the centre of this disruption with innovative consumer propositions that threaten their dissatisfied customer base.”Go to Article
31 Mar 2016
It has been well documented that the U.K. is leading the way globally in the development of fintech start-ups.Go to Article
10 Feb 2016
A warning by a former regulator of risks building up in peer-to-peer lending has been attacked by the industry as ill-informed and unfair.
Lord Adair Turner, the former chairman of the UK’s financial watchdog, said on Wednesday that “P2P” platforms could be the source of “big losses” over the next five to 10 years that would “make even the worst bankers look like absolute geniuses”.Go to Article
25 Jan 2016
Fintech was every banker’s buzzword at the World Economic Forum, as leaders of the world’s largest financial companies both touted the potential of new innovations and leaned on regulators to control the startups threatening parts of their business.
Deutsche Bank AG Chief Executive Officer John Cryan predicted the disappearance of physical cash within a decade. Bank of America Corp. CEO Brian Moynihan said his firm now spends $3 billion a year, more than 5 percent of total expenses, on coding. JPMorgan Chase & Co. and Banco Santander SA announced an investment in ex-banker Blythe Masters’ blockchain startup.Go to Article
17 Jan 2016
Whatever 2016 brings, one thing will remain true: the biggest challenge for entrepreneurs and owners of small and medium-sized enterprises (SMEs) is to find the funds they need to launch and grow their business.
As a result, more companies than ever are turning towards smart investments as opposed to traditional loans from private investors or the bank.
The “alternative finance” market has doubled in the past 12 months and this pace is expected to continue in 2016, according to research by Nesta, a charity that works to increase innovation in the UK.Go to Article
01 Jan 2016
In a sign that Fintech has entered the realm of the establishment two leading entrepreneurs have been recognized by the Queen of England in the annual Honours List which was published yesterday.
Samir Desai, co-founder and CEO of Funding Circle, has been honoured as a Commander of the Order of the British Empire (CBE). Giles Andrews, Chairman and co-founder of Zopa has been honoured as an Officer of the Order of the British Empire (OBE).Go to Article
08 Dec 2015
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From banking to investment, mobile technology has revolutionised access to financial services as clients demand the ability to transfer money or take out an instant loan while they are on the move.
In the past year, traditional lenders have been working hard to keep up with the latest developments or risk having business models upset, or even killed off, by nimble “fintech” companies.Go to Article
04 Dec 2015
“I think consumers are responding to the disruption of all sorts of industries and disruption occurs when better value is offered by a disruptive player than the incumbents,” says Giles Andrews, chief executive of Zopa.
In the latest FTAdviser video interview, Mr Andrews said financial services has been rather slower to be disrupted than many of the industries we know well, such as music and travel.
He told Investment Adviser’s Julia Faurschou that this has been because financial services has historically been “quite well protected by regulation.”Go to Article
09 Nov 2015
Two small British businesses have received a financial boost from Andy Murray via crowdfunding.
The tennis star injected an undisclosed amount of cash in to the 'Youtube of 3D printing' MyMiniFactory and also subscription razor business Shavekit through online platform Seedrs.
London-based Shavekit has smashed its crowdfunding target of £150,000, with £204,150 already invested with xx days/weeks left before the funding period closes.
Earlier this year, the platform received a combined investment of £7.5million from high-profile manager Neil Woodford's Patient Capital Trust and venture capital firm Augmentum Capital.
Go to Article
25 Sep 2015
Wealthy debtors are turning to alternative borrowing, including pawning classic cars and other luxury assets, to settle large tax bills at short notice with HM Revenue & Customs.
Since last August, more than 25,000 taxpayers have received demands to pay disputed sums as the UK tax authority ramps up efforts to reclaim £5.5bn it deems to have been avoided.Go to Article
14 Sep 2015
Peer-to-peer lender Zopa saw its revenues double last year as more savers and borrowers used its platform – but its losses also doubled as the business hired more staff to prepare for its planned future growth.
Revenues jumped from £5.4m in 2013 to £11.5m in 2014, according to the innovative finance firm’s latest set of financial statements. But at the same time its costs jumped, sending its losses up from £2.6m to £5.6m.Go to Article
30 Aug 2015
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Zopa, the British peer-to-peer loan pioneer, has appointed a new chief executive as it seeks to draw more pension and personal savers to the alternative finance market.
Jaidev Janardana, who joined the business last year as chief operating officer, is taking the helm two weeks after Zopa’s online platform processed its billionth pound of P2P lending. He will replace Giles Andrews, who will become executive chairman after co-founding Zopa in a Buckinghamshire barn just over decade ago.Go to Article
29 Aug 2015
The head of peer-to-peer lending business Zopa is to step aside, with immediate effect, to be replaced by his number two.
The Telegraph has learnt that chief executive Giles Andrews, after eight years in the role, is to be replaced by Jaidev Janardana, the chief operating officer. Mr Andrews will instead take on the role of executive chairman.
The move comes just weeks after the alternative finance provider announced that it had issued more than £1 billion in loans since its inception a decade ago. The business has announced ambitious targets to lend a further £1 billion by the end of 2016.Go to Article
17 Aug 2015
Asia is the focus as the next growth area for providers of alternative finance in the UK, despite concerns over the number of companies going bust and a lack of regulation.
Peer-to-peer platform Ratesetter and small business lender Iwoca were among a cohort of “fin-tech” companies that accompanied David Cameron, the UK prime minister, on a trade and foreign policy mission to Asia this month.Go to Article
14 Aug 2015
Back in 2004, a group of businessmen sat in a barn in Buckinghamshire throwing around ideas. Was there a way to create some kind of bond market for consumers? Since most armchair investors might not understand the bond markets, could it be simplified into an eBay-like model with the added twist of a social return?
Just over 10 years later, Zopa, the pioneering peer-to-peer lender that resulted, is about to process its billionth pound in consumer loans. Of that original team, the founder, Richard Duvall — who also dreamt up the online bank Egg — died suddenly from cancer while Zopa was at a nascent stage. Three more directors left the company as it struggled to build momentum. But Giles Andrews, now Zopa’s chief executive, has stayed the course from barn to billion.Go to Article
29 Jul 2015
A venture-capital fund backed by Lord Rothschild and fund manager Neil Woodford have led a £10m investment round into Seedrs as the crowdfunding platform plans to expand overseas.
Augmentum Capital, founded by entrepreneurs Tim Levene and Richard Matthews, and the Woodford Patient Capital Trust are investing £7.5m into Seedrs, while a further £2.5m will be offered to existing shareholders and other individual investors through a campaign on the platform.Go to Article
15 Jul 2015
Watch Zopa's New TV AdvertGo to Article
03 Jun 2015
The digital revolution is in full swing, spearheaded by entrepreneurs employing technology that is disrupting sectors from finance to food shopping.
Digitally focused companies such as Uber, the taxi application, and Zopa, the peer-to-peer lender, have emerged in the past decade alongside large numbers of others who are shaking up traditional industries.Go to Article
19 May 2015
Peer-to-peer lender Zopa has teamed up with challenger bank Metro Bank to lend funds through the latter's marketplace.
The deal marks the first of its kind in the UK as Metro Bank, already lending funds to Zopa's consumer borrowers, recognises peer-to-peer (P2P) lending as a new asset class.
Zopa's chief executive Giles Andrews described it as a "clear sign that Zopa is trusted platform not only for consumers but also institutions to deploy their funds".Go to Article
09 May 2015
SAVERS DO NOT get much in the way of interest from their banks these days. But a different logic seems to apply to borrowers, who still often pay double-digit rates for credit—if they can get it at all. That has attracted a number of outfits offering to connect those who need cash with those who have a surplus of it. The rapid growth of such “peer-to-peer” lenders has been one of fintech’s most visible successes. The biggest such firm, Lending Club, based in San Francisco, listed its shares in December to a clamour reminiscent of the 1999 tech boom.Go to Article
30 Mar 2015
Last week’s Budget marked a “savings revolution” when George Osborne announced that 95pc of taxpayers would be removed from any savings tax liability from next year. This has left the cash Isa, introduced in the late Nineties by Gordon Brown, suddenly less attractive.
A new “personal savings allowance” will allow basic-rate taxpayers to earn up to £1,000 of interest on ordinary savings accounts, current accounts, bonds and other deals tax-free. Higher-rate taxpayers can earn £500 before their income is taxed.Go to Article
09 Mar 2015
It’s 10 years today that the first peer-to-peer lender was founded in a barn in Buckinghamshire in March 2005. That was Zopa which has now lent nearly £750m, and expects to hit £1bn this summer.
Meanwhile the peer-to-peer finance industry has blossomed throughout the world with the global industry now worth more than $10bn.Go to Article
09 Mar 2015
Happy birthday Zopa. The world’s first crowdfunding platform celebrates its 10th birthday today and though it took some time to break through, Zopa can now claim to have spawned a movement that is taking on the established banking industry in markets all around the world.Go to Article
10 Feb 2015
Borro, the U.S. and UK-based online platform that people borrow money and put up luxury items as collateral, is today announcing $19 million in new funding led by strategic investments from Israel’s OurCrowd and Berlin’s Rocket Internet.Go to Article
10 Feb 2015
The first of the new breed of internet lenders is no longer the new kid on the block
Peer-to-peer lending is often praised for allowing people to lend to one another directly over the web, bypassing traditional lenders, but Giles Andrews knows through bitter experience that creating a true direct link between lender and borrower can be disastrous.Go to Article
18 Jan 2015
Whether you're 65 or 25, everyone could beneift from a savings overhaul in these difficult times. Lisa Bachelor looks at the various options.Go to Article
10 Jan 2015
The UK’s biggest peer-to-peer lender has almost doubled revenues amid a boom in loans, as the nascent sector seeks to challenge the major banks.
Zopa, which links up thousands of borrowers and savers over the internet, grew revenues by 81pc in 2013, according to accounts filed at Companies House.Go to Article
06 Dec 2014
The idea is to bypass banks and match investors with their ideal borrower. Rates are great, but it can be risky. Now George Osborne has provided a safety netGo to Article
25 Nov 2014
The level of peer-to-peer (P2P) business lending has increased by 250 per cent since 2012, according to data from innovation charity Nesta, backed by Cambridge University, PWC and ACCA.
Figures show £749m was lent in the first three quarters of 2014, and consumer lending was also up by 108 per cent.Go to Article
17 Nov 2014
By chance I had two meetings in the diary this week that, in their own way, went to the heart of what is wrong with our banks.
The first, on Monday, was with Giles Andrews, the founder of Zopa. That’s the peer-to-peer lending and borrowing market – people go on the website, say they’ve got cash to lend, and others borrow.Go to Article
28 Oct 2014
Alternative lender Zopa is capitalising on recent Government reforms to shake up pensions – and soon Isas. Good news for UK pensioners and saversGo to Article
26 Oct 2014
Savers putting money into peer-to-peer lenders will get a boost under plans to include this form of alternative finance in tax-free Isas. The change is likely to see more people pile in – little wonder, with rates of up to 10% on offer. But should you be signing up, and what are the pitfalls?Go to Article
17 Oct 2014
The Government has today initiated a two month-long consultation to decide how peer-to-peer loans will be included in Individual Savings Accounts (Isas)Go to Article
17 Oct 2014
The government is considering setting up a separate tax free individual savings account (ISA) for people who want to lend out money.Go to Article
17 Oct 2014
Investors in lenders such as Zopa could shelter returns in Isa – if government can find a way to make it happenGo to Article
08 Oct 2014
BullionVault, an online service for investors to buy and sell physical gold and silver, said its Gold Investor Index rose to a seven-month high in September as prices declined by the most since last year.Go to Article
22 Sep 2014
Telegraph – Like every saver I've been in despair over the rotten returns available on cash. Peer-to-Peer where you lend directly to a group of 50 or so individual borrowers via a clever website – seemed to offer a way out, with interest rates of more than 5pc.Go to Article
18 Sep 2014
Rank: 79 Zopa.
Says it has helped to lend more than £600m to UK consumers.Go to Article
13 Aug 2014
Article with Giles Andrews, Founder of Zopa.Go to Article
09 Jun 2014
Almost seven years since the start of the financial crisis, banks are still under fire for not lending enough to small and medium-sized companies.
Small businesses complain that they are being forced to jump through hoops or are turned down point blank by their banks.
Government schemes such as Funding for Lending have led to a glut of cheap mortgage deals and boosted lending to households. But net lending – which includes money paid back – to small businesses continues to fall.
Go to Article
19 May 2014
Julie Robinson does not consider herself to be a financial innovator. But when the 44-year-old secretary from Hertfordshire left her bank and began borrowing money from an online peer-to-peer lender she became part of an industry intent on disrupting the future of global banking.Go to Article
19 May 2014
"We had a guy asking if he could get a loan against his livestock,” says Paul Aitken. “Which obviously we turned down.”
The founder of Borro, which has been labelled as a pawnbroker for the wealthy (more on that later), is remembering some of the assets he has refused to lend against.
“Another guy filled in on the website what he wanted a loan against. It was under watches, he said tanks,” says the 41-year-old chief executive. “So we assumed it was a Cartier Tank watch. But when we spoke to him he actually wanted a loan against a tank. We didn’t do that.”Go to Article
14 May 2014
A huge 49 per cent of balance transfers are not repaid within the zero per cent period, meaning consumers get hit with interest charges – estimated to total a staggering £443million a year. And even those who do pay off are still forking out a bumper £810million in balance transfer fees, according to peer-to-peer lender Zopa.Go to Article
13 May 2014
Getting a good deal? A report by Mike Naylor, 2014. This report was commissioned to investigate if UK credit cardholders are getting a fair deal from credit card companies. An online survey was used to ask credit and store cardholders questions about their debts, credit card balance transfers and interest rates, and their attitudes to debt.
25 Mar 2014
CNBC – Live Interview with Tim Levene.Go to Article
17 Mar 2014
One of the interesting, and potentially market-changing, stories to come out of this current recession is the creation of high-end pawn operations, or what some people in the business prefer to call "collateral lenders."Go to Article
04 Mar 2014
Borro, an online platform that lets people borrow cash and put up luxury watches, art and other fine goods as collateral, is today announcing a new funding round of $112 million, coming entirely from one backer that focuses on finance investments, Victory Park Capital. Paul Aitken, Borro’s founder and CEO, tells me that the money will be used to continue to grow out its business in the markets where it is active — the UK and the U.S. — and specifically to expand the pool of money that Borro has available to offer for financing.Go to Article
19 Feb 2014
The price of gold, as set in London, had until yesterday moved higher in nine consecutive daily trading sessions. This is a remarkable run; it last happened in August 2012, before the precious metal suffered a severe reverse in the spring of last year.Go to Article
11 Feb 2014
Interactive Investor has raised a new undisclosed investment round to help grow its technology platform.
Through its platform, Interactive Investor helps users to make financial decisions and manage investments by bringing together tools, facts and independent information. Some 600,000 posts are made on its discussion boards each year, while funds purchased by customers through the platform increased by 200 per cent in 2013 compared to 2012, according to a statement.
- See more at: http://www.growthbusiness.co.uk/news-and-market-deals/fundraising-deals/2453807/interactive-investor-adds-augmentum-capital-as-investor.thtml#sthash.ZFO7z668.dpufGo to Article
10 Feb 2014
It’s an interesting chart, especially the hockey stick rise in funds transferred as the financial crisis hit, and relates to a recent headline in the Financial Times: “P2P group Zopa secures £15m investment from Arrowgrass Capital”.
The article included the following line:
“Lending Club, the largest P2P lender, has issued $3.5bn in loans since 2006 and reached a valuation of $2.3bn late last year. The company is considering a US stock offering expected later this year. Prosper, the next biggest US P2P, raised $25m from investors including BlackRock and Sequoia Capital in September … [Zopa] has facilitated £455m of loans over the past nine years.”Go to Article
10 Feb 2014
Monday, 10 February 2014 – Interactive Investor, the DIY investment service championing straightforward investing, today announces that Augmentum Capital and Unicorn AIM VCT have become shareholders in the company. The funding will help Interactive Investor accelerate growth as one of the UK’s most innovative investment platforms.
Augmentum has built a portfolio of investments in internet-focussed companies and is wholly backed by RIT Capital Partners plc, the award-winning investment trust chaired by Lord Rothschild, whose family own 18% of RIT’s shares. Other companies in the Augmentum portfolio include Bullion Vault.com, Zopa and borro.Go to Article
29 Jan 2014
Zopa, Europe's largest peer-to-peer loan platform, has secured £15m from London-based hedge fund Arrowgrass Partners in the latest sign of investor interest in companies that use technology to cut banks out of the lending process.Go to Article
27 Jan 2014
You can watch Martin’s show on ITVPlayer. The peer-to-peer lending feature starts around 16 minutes in.
We would like to welcome the hundreds of new members to Zopa who have joined us after seeing the Martin Lewis Money Show last Friday on ITV1. If you need any assistance with your lending please get in touch on firstname.lastname@example.org or Tweet us via @Zopa.
We are fans of Martin’s guides for consumers and pleased that he chose to cover peer-to-peer lending on TV and the MoneySavingExpert website. We think Martin’s advice to dip a toe in the water with peer-to-peer lending is a sensible approach. We see many savers start lending with smaller amounts before going on to lend more over time. As the first and largest p2p lender we now have over 46,000 active savers – some lending over £1m and some starting with just £100.
Go to Article
14 Jan 2014
A company that cuts out banks to lend savers' money directly to borrowers is offering returns of 5pc fixed for five years.Go to Article
28 Dec 2013
What do a stunt plane, an Olympic gold medal and an Oscar have in common?
They’ve all been hocked by owners at one particular posh pawnbroker.
Borro was set up in 2008, just weeks before the collapse of the investment bank Lehman Brothers
Go to Article
03 Dec 2013
Savers will be able to earn tax-free returns on peer-to-peer lending websites under plans to allow this type of investment within an Isa, The Telegraph understandsGo to Article
24 Oct 2013
Six per cent interest is enough to put a rosy glow into the cheeks of any depressed saver. Yet many worry that peer-to-peer lending websites such as Zopa, Funding Circle and Ratesetter are too good to be true. However, for over a year I've been trying it, and I'm proof they can smash ordinary savings – provided you understand the risks.Go to Article
23 Oct 2013
Appraisals manager Karina Lagravinese inspects a ring to obtain its value inside the Manhattan offices of Borro, a collateral lender. Philip Montgomery for The Wall Street Journal.
Go to Article
03 Oct 2013
People who borrow money from peer-to-peer lending websites such as Zopa will get more rights and greater protection as part of proposals drawn up by the City Regulator.Go to Article
06 Sep 2013
Many cynics said peer to peer lending would never work in the UK. But with savings rates from bank and building societies stuck firmly in the doldrums for the forseeable future, there's growing evidence that this new sector is gaining traction.Go to Article
13 Aug 2013
One of Britain's fastest-growing alternative lenders, Zopa, is on track to double its loans this year as the peer-to-peer website takes on high street banks.
After lending £20m in a month for the first time in July, the business expects total loans to hit £200m this year – more than double the amount for 2012 – and £400m in 2014. Zopa acts as an online broker between borrowers and individuals willing to offer loans.Go to Article
05 Aug 2013
Tens of thousands of hard-pressed Britons are snubbing hight street banks in a scramble for better interest rates by borrowing and lending between themselves, surprise new research has found.Go to Article
22 Jul 2013
It can now be cheaper, quicker and easier to get goods made in the UK, reports Andrew Cave.
British companies discovered more than a decade ago that they could increase efficiency and save money by moving production to China.Go to Article
09 Jul 2013
The story behind the world's largest online bullion market.
The Bank of England only has around 10 times more gold than Paul Tustain's business looks after. But he doesn't think that's remotely surprising, and finds my incredulity at the fact quite funny, actually. Maybe it's not that surprising – after all, his company BullionVault is the world's biggest online bullion market.
Go to Article
08 Jun 2013
EACH month seems to bring more unwelcome news for British firms seeking credit. Business lending, which has been falling steadily for four years, dipped below £400 billion ($612 billion) by the beginning of May. That is 20% below its level four years ago. Then, on June 2nd, data showed that a policy intended to funnel cheap cash to firms via the banking system is not offsetting the crunch. Participants in the Funding for Lending Scheme—a group that includes all of the big high-street banks except HSBC—cut credit by £300m in the first quarter of 2013.Go to Article
16 May 2013
During the past year, we profiled successful private equity investors who could be part of the next generation of industry leaders. Here are excerpts from some of those profiles.Go to Article
14 May 2013
Giles Andrews is CEO and co-founder of Zopa, a P2P lending business, which has lent more than £300 million since its foundation in 2004. Zopa claims peer-to-peer lending is more efficient than the traditional banking model and therefore allows it to offers better rates to savers and borrowers. It has been voted "Most Trusted Personal Loan Provider" in the Moneywise Customer Awards for the past three years.Go to Article
14 May 2013
Savers can now cut out bank and building society middlemen to earn 5pc returns by lending to borrowers with somewhat reduced risk, according to Zopa, a website which brings depositors and debtors together.Go to Article
13 May 2013
Andy Haldane, director of financial stability at the Bank of England, reckons that peer-to-peer websites – which llink those who want to borrow with individuals who want a return on their cash are becoming increasing economically important.Go to Article
13 May 2013
Buyout Barons of the Future.Go to Article
13 May 2013
NEW YORK, NY—(Marketwired – May 13, 2013) – Leading personal asset lender borro® has reached the milestone of issuing over $70 million worth of loans in total across its international business, with $35 million lent to individuals since its U.S. launch in February 2012.Go to Article
08 May 2013
Zopa, which has matched more than £300million of savers’ money with borrowers, has set up an emergency fund to pay out to savers whose loans to bad debtors aren’t fully repaid.Go to Article
05 May 2013
SAVERS who lend money through Zopa, Britain’s largest peer-to-peer website, can now protect themselves against the threat of default. The site allows savers to earn 5.1% a year, after fees, by lending their deposits directly to the lowest-risk borrowers for a five-year term. The best-buy five-year account on the high street — from Skipton building society — pays 3%.Go to Article
30 Apr 2013
(Reuters) – An online service that enables savers to earn interest by loaning money to other members of the public is introducing a back-up fund to reimburse loans made from Tuesday onwards if borrowers default.Go to Article
14 Apr 2013
Giles Andrews, founder and CEO of Zopa, says only promise what you can deliver, and keep your goals need simpleGo to Article
04 Apr 2013
BullionVault customers can now buy, sell, and store gold through a vault in Singapore, as well as existing vaults in New York, Zurich, and London.Go to Article
15 Mar 2013
Adrian Ash, head of Research at BullionVault, has considered the particulars of the London Gold Fix, in light of the latest concerns of regulators that it may be what it says it is – a fix.Go to Article
03 Mar 2013
The names of the biggest peer-to-peer lenders – Zopa, Ratesetter and Funding Circle – are hardly household names, and certainly far less familiar than the likes of Barclays, HSBC or NatWest. But recently the Bank of England has suggested that these new kids on the block could become a major force in the financial market over the next decade.Go to Article
01 Mar 2013
Zopa remains the biggest player and to date has arranged more than £277m in loans during the last eight years and now has over 500,000 members on its books. The average return paid to lenders in the last 12 months after any charges and defaults is an impressive 5.4 per cent.Go to Article
15 Feb 2013
The appointment of Nigel Morris, one of the UK’s most successful entrepreneurs and co-founder of Capital One, as chairman of Borro raises questions about the ambitions of the niche lender. Based in Chancery Lane in London, Borro expanded to the US a year ago, has doubled its sized every year since its launch in 2008, and is set to generate £13 million in turnover this year from a previous £7 million.Go to Article
14 Feb 2013
Peer-to-peer lending most immediately brings to mind the largely feel-good act of extending small-time money to small businesses and individuals with quirky projects—a curiosity at best and no threat to the lending hegemony of big banks. What’s less appreciated is how successful peer-to-peer lending platforms such as Prosper and Lending Club have been in connecting wholesale numbers of individual lenders and borrowers.Go to Article
14 Jan 2013
Rothschild Buys Into Peer-To-Peer Lending-FTGo to Article
14 Dec 2012
BullionVault, an online service for investors to buy and sell physical gold and silver, said its Gold Investor Index climbed to a six-month high in November.Go to Article
14 Dec 2012
LONDON – RIT Capital Partners, the investment firm chaired by Jacob Rothschild, said on Monday that it had acquired a stake in a British crowdfunding company, Zopa.Go to Article
14 Nov 2012
Leading online asset lender borro has secured a £20m loan facility from Octopus Investments. Launched in the UK in 2008 and the US in 2012, online company borro provides customers with loans of £1,000 to £1,000,000 in return for their luxury assets, such as jewellery, cars and antiques.Go to Article
14 Nov 2012
Borro, the UK’s fastest growing personal asset lender, has been selected as a Red Herring Top 100 Global winner. The Red Herring awards recognise innovative start-ups from a pool of thousands from around the world.Go to Article
14 Oct 2012
GOLD is the most difficult asset class to analyse. For a start, it divides opinion so sharply. Its supporters have a quasi-religious fervour, regarding the metal as the one true source of value. Its detractors (a group that includes many economists) treat it, in John Maynard Keynes’s phrase, as a “barbarous relic” that has no place in serious discussions of monetary policy.Go to Article
11 Oct 2012
Borro, a personal asset lending platform, has just received a massive $26 million funding round led by Canaan Partners. The service essentially classes up the idea of collateral loans, offering up to $1 million secured against high-end personal assets.Go to Article
11 Oct 2012
Borro is bringing a new form of lending to the U.S., targeting wealthier borrowers, with the help of $26 million in new funding. The London company makes personal loans ranging from $1,000 to $1 million that are secured against expensive luxury items like jewelry, fine art and classic cars. Borro launched in 2008 in the U.K. and has built up a brand and trust with its customers, having seen 90% of them return for another loan within 18 months of their first one, said Paul Aitken, borro’s chief executive and founder.Go to Article
01 Oct 2012
London-based cab price comparison and booking startup Kabbee has raised $3.25 million in an intermediate funding round, led by Samos Investments, with “significant contributions” from Pentland Group and Redbus Group. Betfair Founder Ed Wray also invested, along with two angel investors who work at Smedvig Capital. Wray will now play an active role in advising Kabbee, along with Tim Levene from Augmentum Capital.Go to Article