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Fintech Insider Podcast by 11:FS
897. News: LendInvest announces £500m JP Morgan raise, Enfuce launches 2-in-1 card for Europe, Open Banking roadmap completed
Sep 16, 2024
This week’s guests are Vanessa Schotes, CMO at Enfuce, and Henk Van Hul, CEO of Open Banking. They discuss LendInvest's impressive £500m fundraising from JP Morgan and the significance of NatWest's role in the Open Property Data Association. Vanessa highlights Enfuce’s groundbreaking 2-in-1 debit and credit card, designed to simplify payments for European consumers. The conversation also dives into the implications of the newly completed Open Banking framework, emphasizing how innovations can reshape lending and financial inclusivity for younger generations.
55:18
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Quick takeaways
- Lend Invest's £500 million raise from JP Morgan signifies a strong momentum for UK digital mortgage markets despite previous challenges.
- The UK’s completion of the Open Banking Framework marks a significant advancement in secure and innovative data exchanges for consumers and businesses.
Deep dives
Significant Investment in Lend Invest
Lend Invest has secured a £500 million investment from JP Morgan, marking a significant boost for the UK digital mortgage marketplace. This brings Lend Invest's total funding to £1.5 billion, contributing to a larger total of over £4.5 billion under management. Despite facing challenges, including an 86% drop in share price since its listing in 2021, the company is optimistic about a return to profit in the coming year. The new funding will be directed towards serving a variety of borrowers, particularly those underserved by traditional lenders, including self-employed individuals and key workers.
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