Orange is a large French telecom company located in France; users will be able to create an account in an Orange store or completely online; service will be open to non-Orange customers; there will be no monthly fees provided users use their attached payment card; Orange has also partnered with IBM's Watson to provide user support and is also working to add insurance products and loans to the service. Source
French fintech has been nipping at the heels of the UK and Germany for some time. With significant support from the political agenda and increased VC funding, could they soon be the EU's fintech hub?
Business Insider provides data on the number of challenger banks by country; this week Carrefour Banque, a subsidiary of Carrefour, that also operates a multinational retailer, shared that they were launching a new current account under the name C-Zam; the retailer operates in 30 countries and has over 1,000 stores in France which puts them in a unique position to acquire customers; other players prevalent in the French market include BNP Paribas which launched Hello Bank in 2013 and ING Direct which launched in 2010; startups Qonto and N26 also operate in Europe. Source
This November we will host our fifth installment of LendIt Fintech Europe in London. Although London is most often referenced...
I spent a week in France and Germany recently to meet with the marketplace lending leaders there. I found a...
Finexcap, an online invoice financing platform, has partnered with Sage to expand its customer base; through the partnership the two firms have created Sage Clic&Cash; Sage Clic&Cash will offer invoice financing to approximately 600,000 small business clients using the software product Sage or Ciel. Source
Extraordinary times call for extraordinary measures. The EU announced last week that it would suspend the Growth and Stability Pact....
The CEO and Co-Founder of Younited Credit talks banking, technology, Brexit, and his international expansion plans. Source
A second regulatory reform focused on crowdfunding has gone into effect in France; the reform will broaden the offerings available for crowdfunded investing and lending; on crowdfund platforms, companies can now raise 2.5 million euros in equity funding through simple shares, plain vanilla bonds, preferred shares, participatory notes and convertible bonds; on crowdlending platforms, borrower limits were increased for qualified lenders to 2,000 euros individual lending per project; the reform also introduces new minibon debt securities. Source
Yomoni has raised $5 million from Crédit Mutuel Arkéa and Iéna Venture; the firm provides a robo advisory service in France where the concept of robo advice is still very new; the firm will use the funds to expand its workforce and add new features; fees for the service are approximately 1.60% per year; the firm currently has $12.9 million in assets under management and is targeting $1.08 billion by 2020 with plans to potentially expand in Europe. Source