News Roundup

This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.

Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.

Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.

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Online lender 4finance has reported its earnings for 2016 with an increase in revenue and net income; revenue increased 24% in 2016 to 393.2 million euros ($413.35 million); it reported another year of net profit with net income increasing to 63.2 million euros ($66.4 million), up from 58.2 million euros ($61.2 million) in 2015; in 2016 the company's net loan portfolio was 493.9 million euros ($519.21 million) and the average interest rate on its loans was 120%.  Source

P2P ratings and research firm 4thWay has released a list of the UK's top P2P lenders by loan originations; Zopa, FundingCircle and RateSetter lead the market with originations nearing 2 billion British pounds ($2.46 billion); UK property lender Wellesley, which has reportedly been struggling for capital, tops the list with 366.5 million British pounds ($451.48 million) in loan originations.  Source

Silicon Valley startup accelerator 500 Startups partnered with cryptocurrency exchange Huobi to incubate blockchain projects; Edith Yeung, a partner at 500 Startups, said to CoinDesk, in partnering with Huobi Labs, "Our teams will learn so much especially around the ins and outs of how a digital exchange works."; the companies will help startups to develop business plans, create and refine marketing strategies, fundraise and develop white papers. Source.