Is fintech a good investment? In 2023 it is one of the best. The AltFi Fintech Index has returned 14.3 per cent in 2023 so far. In fact, the AltFi Fintech Index has beaten 94 per cent of funds investing in listed securities available to UK investors., according to data from FE fundinfo, in terms of total returns net of fees.
Business lender Fleximize has extended its relationship with Goldman Sachs Asset Management and secured a new backer in Citi, as the two financial giants commit to a fresh £136m securitised facility.
Alternative lender ThinCats has agreed a warehouse facility with Citi and Barclays Bank, supported by the British Business Bank’s ENABLE Guarantee programme. The programme is designed to encourage additional lending to smaller businesses, and the facility to ThinCats supports lending of up to £696m for mid-sized smaller businesses in the UK.
Digital bank Zopa has raised a £75m funding round. Zopa, which now says it is generating £250m in annual revenue from its 1 million customers, will use the Tier 2 capital to bolster its growth and expansion plans.