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UK’s Metro Bank To Buy P2P Lender RateSetter For At Least $3.27M

PYMNTS

London-based Metro Bank has struck a deal to buy peer-to-peer lender RateSetter for £2.5 Metro will make additional payments to shareholders if RateSetter reaches certain benchmarks, according to a news release. Metro Bank will operate RateSetter as an independent entity and make loans under both its and Metro Bank brands.

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Car Talk: Shift Announces Plans To Go Public

PYMNTS

“We are excited to partner with Shift and its world-class management team as it leverages its technology platform to disrupt the $840+ billion used car market,” said Daniel Cohen, chairman of the board of directors of Insurance Acquisition Corp. Arison said the move was about adding capital to scale the company.

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Disruptor UK Bank Atom Raises £50M

PYMNTS

The funding round was led by BBVA with participation from Toscafund, Woodford Patient Capital Trust and Perscitus LLP. Atom was co-founded by Anthony Thomson, who is responsible for Metro Bank, one of the first newer banks to challenge legacy banks in the country. Musician will.i.am also contributed.

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Disruptor UK Bank Atom Raises £50M

PYMNTS

The funding round was led by BBVA with participation from Toscafund, Woodford Patient Capital Trust and Perscitus LLP. Atom was co-founded by Anthony Thomson, who is responsible for Metro Bank, one of the first newer banks to challenge legacy banks in the country. Musician will.i.am also contributed.

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Challenges for the neo-challengers: Four hurdles to overcome

Accenture

In my frequent conversations with clients across the UK and Irish banking industry, one of today’s hottest topics is the rise of the challenger banks such as CYBG, Metro and AIB UK, and particularly the neo-challenger banks providing digital-only services, like Monzo, Atom and Starling. Why the intense interest in the neo-challengers?

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High-Profile — But Secretive — Funding For B2B FinTechs

PYMNTS

For startups, 2016 wasn’t the best year in venture capital. VCs used 2016 to manage costs, set priorities and valuations,” explained Rahul Khanna, managing partner at Trifecta Capital, in an interview with Business Standard published Wednesday (Dec. that looks to apply distributed ledger technology to payments and settlement.

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Top UK Lenders Launch SMB Branch Joint Venture

PYMNTS

Alternative lenders position themselves as faster, technologically-savvy options for small to medium-size businesses (SMBs) that seek capital, while many of the FinServ providers in the running for RBS funds operate as digital-first companies ready to meet small firms’ need for automation, online platforms and cutting-edge banking services.

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