Guest speakers from all over the world, including the co-founder of LendIt Conference Jason Jones and leaders of top P2P lending companies in the three Baltic states – Bondora (Oliver Reinsalu), Mintos (Martins Sulte) and SAVY (Vytautas Zabulis), among others, will all be participating in the conference.
A number of highly anticipated panel discussions are also on the agenda and it will touch some important topics related to the prospects, challenges and trends for Alternative Financing both on a local and global scale.
With a sizeable atendance this conference is also being broadcast live and can be watched on YouTube.
With more and more consumers looking at investing and borrowing using P2P platforms, we’re in the process of displaying independent P2P reviews here on the P2P money website. This is the first review syndication within the P2P space.
Mike Fotis, founder of Smart Money People said, “Since we launched in 2014, our mission has been to increase trust and transparency in financial services. We’ve become the leading site for independent banking reviews, and extending into the P2P industry will help us to decode this industry for many more consumers.”
To write a review, pick a company here and click the link.
Your reviews can help to better inform consumers and help to act as a self-regulating mechanism (something the FCA's consumer panel talks about as 'consumers as co-regulators').
Latvian based European peer-to-peer lending company TWINO will be allow lenders to choose their currency instead of requiring lenders to convert funds to Euros. They are facilitating this by hedging the currency. Read the in-depth conversation on the P2P Independent Forum.
Here is the statemeny from TWINO:
One of TWINO promises is that we protect investors from currency risk. Thus, while investing on TWINO you don’t need to worry about Polish Zloty, Danish Krone or Georgian Lari appreciating against euro, as every transaction on the platform is performed in EUR.
However, investors from the UK still face the risk of EUR appreciating against GBP, which might lower their returns. Therefore, next week we are planning to launch a major upgrade that will remove the currency risk for investors, who hold their investable assets in British Pounds, equalizing the benefits of investing on TWINO with Eurozone investors.
The functionality will allow investors to choose the currency that they want to invest in (either EUR or GBP), and every transaction on TWINO will be processed in the chosen currency (including deposits, withdrawals, investments, repayments, etc.).
We will provide a further notice when the new functionality launches, and will be reaching out to existing investors, asking if they want to convert their TWINO accounts to GBP.
We are glad to be the first platform in Continental Europe to provide such functionality and hope some of you will benefit from it!
Zopa's new products, which we recently reported, are now live. If lenders wish to use Zopa Access or Zopa Plus then they need to log-in to their account and update their relending preferences.
Here is the announcement from Zopa:
We are delighted to tell you that our three new lender products are now ready and waiting for you to use!
Simply log into My Zopa to see the new look lending pages. You now have the option to lend in the three new products: Zopa Access, Zopa Classic and Zopa Plus.
When you lend your money your capital is at risk and is not protected by the FSCS. Our risk statement has all the details.
If you have re-lending turned on then your monthly repayments will now automatically be recycled into Zopa Classic. If you want to begin lending in Zopa Access or Zopa Plus, simply update your funding preference to that product. You can either deposit new money into those products (remember you need at least £1,000 to start lending in Zopa Plus) or turn re-lending off and move your repayments over to your chosen product as they come in to your holding account.
Our award winning customer services team is on hand to support you with any queries you might have about getting started with the new lender products. You can also provide feedback on what you do and don't like about the new products by contacting our product team.
We look forward to hearing what you think!
ArchOver has successfully raised a record breaking £2.3million loan to Scottish based Duradiamond Healthcare.
Here is the full press release:
ArchOver via its crowdlending platform has successfully raised £2.3m to support the growth and development of Perth-based occupational healthcare company Duradiamond Healthcare. It is believed to be the largest non-property related working capital facility ever raised by any platform anywhere in the world.
Commenting on the loan, ArchOver CEO Angus Dent said: "We are obviously delighted that we have been able to assist Duradiamond Healthcare, an exceptionally fine Scottish company that we are convinced is destined for greater things. However, this is also ArchOver's largest loan by far and so we are equally pleased for ArchOver and its growing band of loyal lenders. Everyone involved has worked very hard to bring this campaign to a successful conclusion."
"Above all, this makes a massive statement about the effectiveness of crowdlending in the modern financial marketplace. We have demonstrated that we have the systems, structure and capacity to offer a genuine alternative to the banks when it comes to providing flexible finance to young growth companies. It is a good outcome for all concerned."
The loan replaces a facility provided by RBS of £1.8m and increases the working capital available to the company. Duradiamond Healthcare needs additional working capital to service its growing business. As a result of the four new contracts, Duradiamond Healthcare is expecting its turnover to increase by almost a fifth to £14m this year, rising to £17m and £21m in 2017 and 2018 respectively.
Chief Executive Dr Chris Pugh said: "We are delighted with this new form of finance which will enable us to fulfil our growth opportunities across the UK."
The deal was introduced by Neil Davidson, founder and MD of Alderburn Finance Solutions based in Edinburgh.