These fintech companies are well established and constantly gaining traction
Fenergo is a provider of Client Lifestyle Management, Compliance and Client Data Management solutions for corporate, commercial and private banks. Fenergo also provides data management for investment.
Fenergo aims to come to the aid of banks at a crucial time when regulation is piling the pressure onto banks to gather and hold an increasingly vast amount of data, in addition to documentation from their clients. In turn this ramps up compliance costs while at the overall detriment of efficiency and the experience of the customer.
The Client Lifecycle Management offered by Fenergo is aimed to be an end-to-end solution that will take the weight away from the management of such huge quantities of data and files. The calibre of the banks behind Fenergo give an indication of the relevance of the problem area, as the names involved include HSBC, RBC, BNY Mellon and Scotiabank.
Momentum behind the company has mounted consistently, gaining a huge $85 million investment in 2015. The company has spread its global mark physically too, with offices situated in London, Boston, Sidney, Abu Dhabi with Headquarters in Dublin.
Funding Circle is a peer-to-peer lending marketplace that allows the direct lending of money from investors to small and medium-sized businesses (SME).
This fintech company holds the crown and title as being the first website to utilise the peer-to-peer lending process to fund businesses in the UK. With this pedigree the company has grown globally, now operating in the US, the Netherlands, Germany and Spain, in addition to the UK.
By February 2017 the formidable platform has allowed for £2.5 billion in loads to be transferred, resulting in huge benefits for smaller businesses that are a huge driving component of the global economy.
The business works as an online marketplace, meaning that investors and companies seeking capital are brought together conveniently, allowing for the greatest benefit to all parties. Businesses are able to borrow up to £1 million using the service in the UK, and up to $500,000 in the US.
Over $1 billion (£650 million)-worth of loans have been financed on the platform since the business opened its door, and it seems as though currently the sky is the limit for Funding Circle.
Crowdcube is an equity crowdfunding platform that lets businesses raise money by selling shares online. Company’s have raised over £100 million ($153 million) on the platform since it launched in 2011.
Crowdcube was brought into being by Darren Westlake and Luke Lang in 2011, and can now be considered a leading crowdfunding platform.
A very relevant and recent example of the fintech’s success is the progress of Monzo bank, the digital challenger that recently gained its full banking license. In recent weeks Monzo accrued record breaking funding using the service provided by Crowdcube, beating a record previously held be Crowdcube itself.
To date Crowdcube has raised in excess of £185 million, subsequently building a UK market that can be can be considered dominant with close to 50% of the £245 million UK equity crowdfunding market.
The startup recently raised £6 million from City firm Numis Securities and is planning the world’s first crowdfunded IPO on the platform next year.