For several industries that are labeled together under the “finance” umbrella, the landscape is quickly changing
The financial technology field is rapidly expanding, but remains in flux and continues to be unpredictable.
Though smaller businesses have a lot of disadvantages compared to large enterprises, they can gain an advantage with these five innovative fintech trends.
UK-based ezbob is now one of the leaders of the growing LaaS (lending as a service) market. It wasn’t always like that, as the company, which was started in 2011, operated as an online lender and completed over 10,000 loans to SME with over £130 million of credit extended from its own balance sheet.
UK-based fintech company Ezbob is finding success in their collaborations with traditional lenders. Ezbob provides an automated lending platform for use by financial institutions.
Much has been said and written about the impending doom of banking, as customers begin to flock over to fintech products and services. However, the claim that fintech will kill banking is still an overstatement. Banking, as we know it, is changing because of fintech, but it would take a major event of cataclysmic proportions to do away with banking institutions.
Online lending platform ezbob Ltd has raised £20m (about $28.3 million) in Series C funding in a round led by Leumi Partners and Oaktree Capital Management.
Ezbob has raised money from fund manager Oaktree, in a sign that non-bank lending is becoming more mainstream.
The European Investment Fund (EIF) and Orange Money Ltd (trading as Ezbob) have signed the first loan guarantee agreement in the UK under the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME).