Ratesetter has changed its model to deal with fragility in its fund designed to protect investors from losses. In the process, it has revealed just how bank like some “peer-to-peer” lenders have become.
British venture capitalists are worried Brexit could deprive them of European funds and are lobbying hard for the government to step in with compensatory tax-breaks. But what does this really say about the quality of VC investments?
Bitcoin asset holders have discovered there is logic in taking risk with middlemen if it means idle (and highly volatile) zero yielding assets can be transformed into yielding securities. As a consequence, Bitcoin has gone full-circle and become exactly what it sought out to destroy.
Corporate debt in China is a well-known problem and part of the solution is, apparently, a new round of debt-for-equity swaps. Of course, there will always be sceptics.
A couple of weeks ago we chatted to Michael Gastauer about his fintech startup WB21, a “digital bank” that has claimed one million customers and a $2.2bn valuation after less than a year in operation. It’s a remarkable trajectory for a company with a relatively unknown management team, no outside investors and what appear to be thousands of fake Twitter followers. WB21 has recently won mainstream attention by announcing a move from London to Berlin following the UK’s vote to leave the European Union. The WSJ said it was “one of the first startups” to quit the UK for Germany as a result of Brexit and the city of Berlin has welcomed WB21 and Gastauer with open arms.