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In response to mounting concerns over lending practices in the small business sector, the UK Financial Conduct Authority (FCA) has announced an investigation into the issues raised by the Federation of Small Businesses (FSB). The move comes in the wake of a super-complaint filed by the FSB, highlighting the burdensome demand for personal guarantees by banks when issuing business loans, potentially hindering business growth.
05/03/2024
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Fundbox, an embedded working capital platform for small businesses, announces Ram Muthaiyan as the new Chief Risk & Product Officer.
05/03/2024
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DBT Capital, a Swedish SME lender, has secured SEK 285m (€25.3m) in funding with backing from the European Investment Fund (EIF).
05/03/2024
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“Institutional investors are becoming much more significant in the trade finance market,” Matt Wreford, CEO, Demica.
04/03/2024
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Sweden’s CapitalBox, the alternative financing specialist for SMEs in Europe, has announced the acquisition of Copenhagen-based Omniveta Finance’s business. Omniveta is an invoice-purchasing company dedicated to improving lending liquidity for SMEs across Denmark.
04/03/2024
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Beltone Leasing and Factoring, a wholly owned subsidiary of Beltone Holding, has signed the first syndicated factoring deal in Egypt worth EGP 925m (US $29.9m) for Redcon Properties, the real estate development arm of Redcon Group.
04/03/2024
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IBSFINtech, a global treasury, risk, trade finance, and supply chain finance management company, has successfully secured a pre-series A round of $1.5 million. The financing, led by a group of distinguished High-Net-Worth Individuals (HNIs) from the USA and India, along with existing investors, represents a significant milestone for the company, showcasing investor confidence in its vision and capabilities.
04/03/2024
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Marsh McLennan, a leading re/insurance broker, has teamed up with the Ukrainian government and Lloyd’s to announce a significant expansion of its Unity insurance facility. This expansion sees Unity now offering coverage for war risk insurance for ships transporting all non-military cargo.
04/03/2024
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Veefin Solutions proudly announces its latest addition to its clientele in the Indian fintech sector: 'FinnUp,' a versatile multi-lender platform. Since its inception, FinnUp has served as a B2B debt platform, facilitating SMEs and corporates to access a plethora of lenders through a single interface.
01/03/2024
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Alloy, the company that helps nearly 600 top banks and fintech firms manage identity risk, has launched a new product called Alloy for Embedded Finance. This product is designed specifically for sponsor banks, Banking as a Service (BaaS) providers, and their fintech partners to work together better on managing identity risk and meeting regulatory rules.
01/03/2024
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Prime Bank has achieved a significant milestone as the first local bank in Bangladesh to successfully execute an international factoring transaction through FCI. Recently, the bank inked an agreement with FCI in Dhaka, facilitating an international factoring transaction with UniCredit Factoring Italy.
01/03/2024
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Allianz Trade has published its latest Global Insolvency Report and unveiled updated forecasts for 2024 and 2025. According to the trade credit insurer, after two gradual rebounds in 2022 (+1%) and 2023 (+7%), global insolvencies are set to accelerate again in 2024 (+9%) before stabilising in 2025 (0%) at high levels.
29/02/2024
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SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, announces the launch of SOLV Ghana, a B2B online marketplace catering to MSMEs. SOLV Ghana offers short-term invoice financing, BNPL services, and business loans through a trusted marketplace of verified buyers and sellers.
29/02/2024
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Ahead of the final leg of the Treasury Committee’s inquiry into SMEs' access to financing, recent data reveals that 2.7% of small business accounts have been shuttered by their respective banks within the past year.
29/02/2024
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Swedish fintech frontrunner, Froda, has broadened its alliance with Visa to amplify the reach of embedded SMB lending throughout Europe. This empowers fellow fintech entities, banks, and neobanks to tap into Froda’s card-based embedded lending offering, thereby facilitating business loan provisions for their clientele.
28/02/2024
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