Sweden calls on the EU to get in touch with Bitcoin Mining
In today’s top news in Europe, the Middle East and Africa, the British investment app Freetrade exceeds the financing target by 800%; Sweden calls on Europe to cut off contact for bitcoin mining. In addition, Kenyan FinTech Asilimia closes $ 2M pre-seed financing, the pan-African company M-KOPA’s pay-as-you-go model and British legislators demand urgent BNPL regulation.
UK Investing App Freetrade exceeds the fundraising target by 800% during the first day of Crowdfunding
The UK’s investment app Free exchange exceeded its fundraising goal by more than 800% during its first of seven days of fundraising on the crowdfunding platform Crowdcube, draws in more than £ 8.1 million ($ 10.8 million), according to Freetrade’s investment side. More than 6,100 investors have contributed investments, according to Crowdcube. Freetrade, a commission-free investment app, has more than 1 million users and £ 1 billion in customer assets, according to the company’s crowdfunding video.
Sweden calls on Europe to cut off contact with Bitcoin Mining
Sweden’s financial and environmental regulators have called on the EU to cut off contact for proof-of-work bitcoin mining due to the negative impact on the environment, according to several reports. Erik Thedéen, Director General of the Swedish Financial Supervisory Authority, and Björn Risinger, Director General of the Swedish Environmental Protection Agency, are both worried that crypto-mining will make the country unable to meet climate commitments.
FinTech Asilimia closes $ 2M Pre-Seed financing to grow beyond Kenya
FinTech start Asilimia raised $ 2 million in a pre-seed financing round, with $ 1 million from a broad spectrum of European angel investors and $ 1 million in a debt round that included Bpifrance and GreenTec Capital Partners, according to reports. The Kenyan startup said the pre-seed financing will support team growth and expansion while debt financing will enable Asilimia to provide credit to micro, small and medium-sized enterprises (MSMEs).
Pan-African asset financing model changes lenders, consumer economics of Pay-as-You-Go plans
Mayur Patel, M-KOPA’s Commercial Manager tells PYMNTS that the pay-as-you-go model used by the company to finance life-enhancing products for underserved customers in sub-Saharan Africa is more inclusive than the BNPL service provided in more mature credit. . markets.
UK lawmakers are urging regulation of suppliers of purchases now pay later
The use of buy now, pay later (BNPL) in the UK almost quadrupled by 2020 to £ 2.7 billion (about $ 3.6 billion) in transactions, according to official data from the Financial Conduct Authority (FCA). Stella Creasy, a British MP, has once again made another urgent call for BNPL regulation that will prevent consumers, especially young people, from taking on more debt than they can afford.
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NEW PYMNT DATA: OUTLOOK FOR SHOPPING FOR HOLIDAYS 2021
About: It’s almost time for Christmas shopping and almost 90% of US consumers plan to make at least some of their purchases online – 13% more than by 2020. 2021 Holiday Shopping Outlook, PYMNTS surveyed more than 3,600 consumers to learn what drives online sales on this Christmas and the effect of product availability and personal rewards on the seller’s preferences.