The European market for online alternative finance grew by 144 per cent last year to almost €3bn and could hit €7bn this year as companies look to tap new sources of capital, according to a new report.
The new Invoice Finance solution helps SME businesses boost their working capital and improve cash flow, by unlocking the value of their accounts-receivable to ease the dual challenges of rising inflation and late payments.
If the discussions conducted at the Entrepreneur Middle East Enterprise Agility Forum in November last year were any indication, then one of the biggest problems that SME owners in the region face is raising capital to grow and develop their respective businesses.
It’s been only 3 months since we launched the Beehive platform and we’re very proud of the growth rate we’ve achieved to date. We’re happy to announce that the hundreds of investors on our platform have provided AED2.7 million in cost effective finance to the 10 businesses that requested financing through our marketplace.
Part of an initiative to provide borrowing oppurtunities to business customers that don’t meet their criteria, RBS will begin to refer clients to P2P lenders Funding Circle and Assetz Capital.
When history is written, the Lending Club IPO will serve as the tipping point for the disruption of the traditional lending model, and ultimately the unraveling of the banking sector as we know it.
