RBS Competition Fund Awards £25 Million to Small Business Fintechs

Some of the £775 million bounty that is the Royal Bank of Scotland (RBS) competition fund is being handed out to British fintech platforms; the fund, managed by The Board of Banking Competition Remedies, was created as a condition of the bailout of RBS in the financial crisis to help boost competition among the country’s banks and lenders; small business broker Funding Options is the recipient of £5 million as is Fluidly, Codat, Form3/Ebury Partners and Swoop Finance; Funding Options has committed to funding an additional 10,000 small firms with around £500 million in alternative lending by the end of 2022. Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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