Breaking News
Asset Finance Industry Funds a Third of UK Business Investment
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million grew by 6% in July, compared with the same month last year. Including high value deals, new business fell by 1% over the same period.
The plant and machinery finance and business equipment finance sectors reported new business up in July by 20% and 13% respectively, compared with the same month in 2016, while new finance for commercial vehicles was flat over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The latest figures confirm the importance of the asset finance industry to the UK economy. The most recent official business investment data suggests that the share of UK investment in machinery, equipment and purchased software financed by FLA members was 33.3% in the twelve months to June 2017, up from 31.8% in the same period in 2016, and at its highest level for more than eight years.”
|
July 2017 |
% change on prev. year |
3 months to July 2017 |
% change on prev. year |
12 months to July 2017 |
% change on prev. year |
|
| Total FLA asset finance (£m) |
2,620 |
-1 |
8,422 |
+10 |
31,780 |
+7 |
| Total excluding high value (£m) |
2,478 |
+6 |
8,156 |
+13 |
30,590 |
+8 |
| Data Extracts:
By asset: |
||||||
| Plant and machinery finance (£m) |
541 |
+20 |
1,835 |
+29 |
6,546 |
+15 |
| Commercial vehicle finance (£m) |
540 |
0 |
1,868 |
+5 |
7,529 |
+4 |
| IT equipment finance (£m) |
166 |
-7 |
598 |
+2 |
2,230 |
-3 |
| Business equipment finance (£m) |
226 |
+13 |
739 |
+16 |
2,563 |
+15 |
| Car finance (£m) |
895 |
+8 |
2,680 |
+10 |
9,788 |
+7 |
| Aircraft, ships and rolling stock finance (£m) |
7 |
-93 |
120 |
-20 |
632 |
+16 |
|
By channel: |
||||||
| Direct finance (£m) |
1,319 |
+4 |
4,233 |
+11 |
15,544 |
+6 |
| Broker-introduced finance (£m) |
450 |
+8 |
1,461 |
+14 |
5,724 |
+18 |
| Sales finance (£m) |
709 |
+10 |
2,462 |
+14 |
9,321 |
+6 |
|
By product: |
||||||
| Finance leasing (£m) |
325 |
+3 |
1,033 |
+5 |
4,036 |
-1 |
| Operating leasing (£m) |
533 |
+5 |
1,794 |
+10 |
7,090 |
+8 |
| Lease/Hire purchase (£m) |
1,416 |
+7 |
4,476 |
+12 |
16,603 |
+10 |
| Other finance (£m) |
346 |
-32 |
1,118 |
+7 |
4,051 |
+5 |
- Lüt Announces Strategic Partnership with Safe Harbor to Expand Access to Compliant Closed-Loop Payments for Cannabis and Specialty Merchants Read more
- Figure Partners with moomoo and Keplr to Expand Global Access to the On-chain Public Equity Network (OPEN) Read more
- OneDome Raises $25M Pre-Series C, Bringing Total Funding to $40M Read more
- intelliflo and Söderberg & Partners Form Strategic Partnership to Drive Adviser Efficiency Read more
- Axiology Secures €5 Million Seed Funding to Accelerate the Modernisation of Europe’s Capital Markets Read more
Lüt Announces Strategic Partnership with Safe Harbor to Expand Access to Compliant Closed-Loop Payments for Cannabis and Specialty Merchants
Lüt, a new financial ecosystem built for accessibility, reliability and growth with a first-of-its-kind closed-loop digital payments platform for cannabis and other high-risk industries, has announced its new partnership with leading financial services provider Safe Harbor to address one of the cannabis industry’s most persistent challenges: compliant and reliable payments. Through the collaboration, Lüt becomes a Safe Harbor Advantage Partner in closed-loop payment, expanding access to compliant, guaranteed-funds digital payments for cannabis and specialty merchants.
Figure Partners with moomoo and Keplr to Expand Global Access to the On-chain Public Equity Network (OPEN)
Figure is expanding investor access to the On-Chain Public Equity Network (OPEN) through new integrations with moomoo and Keplr, extending the distribution of blockchain-native public equities across both regulated brokerage platforms and self-custody wallets. OPEN allows companies to issue their equity native on blockchain and enables investors worldwide to invest in U.S. public equities while accessing decentralized finance (DeFi) for borrowing against and lending out stock.
OneDome Raises $25M Pre-Series C, Bringing Total Funding to $40M
OneDome, the UK-based housing and fintech platform, has raised $25 million in a Pre-Series C funding round, taking total funding raised to date to $40 million.
intelliflo and Söderberg & Partners Form Strategic Partnership to Drive Adviser Efficiency
intelliflo and Söderberg & Partners today announced a new strategic partnership designed to deliver greater efficiency, smarter workflows and an enhanced technology experience for financial advice firms.
Axiology Secures €5 Million Seed Funding to Accelerate the Modernisation of Europe’s Capital Markets
Uniting Europe’s capital markets by consolidating issuance, custody, trading, and settlement of securities into a regulated system built on DLT.
Chargebase Launches to Help Merchants Cut Chargebacks and Give Easy Access to Verifi and Ethoca Alerts
Chargebase, a new chargeback-prevention platform built for high-growth e-commerce and SaaS businesses, today announces its official launch. Designed to solve an expensive and existential problem for merchants – chargebacks – Chargebase gives companies instant access to Verifi and Ethoca alerts in a single, easy-to-use platform with automated workflows and transparent pricing.
APEXX Global Announces $10 Million Investment from Finch Capital to Accelerate Global Growth
APEXX Global, the leading merchant-centric Payment Orchestration Platform, today announced a strategic investment of up to $10 million USD led by Finch Capital, a European growth investor with deep expertise in payments and scaling financial technology players internationally.
Lüt Announces Strategic Partnership with Safe Harbor to Expand Access to Compliant Closed-Loop Payments for Cannabis and Specialty Merchants
Lüt, a new financial ecosystem built for accessibility, reliability and growth with a first-of-its-kind closed-loop digital payments platform for cannabis and other high-risk industries, has announced its new partnership with leading financial services provider Safe Harbor to address one of the cannabis industry’s most persistent challenges: compliant and reliable payments. Through the collaboration, Lüt becomes a Safe Harbor Advantage Partner in closed-loop payment, expanding access to compliant, guaranteed-funds digital payments for cannabis and specialty merchants.
Figure Partners with moomoo and Keplr to Expand Global Access to the On-chain Public Equity Network (OPEN)
Figure is expanding investor access to the On-Chain Public Equity Network (OPEN) through new integrations with moomoo and Keplr, extending the distribution of blockchain-native public equities across both regulated brokerage platforms and self-custody wallets. OPEN allows companies to issue their equity native on blockchain and enables investors worldwide to invest in U.S. public equities while accessing decentralized finance (DeFi) for borrowing against and lending out stock.
OneDome Raises $25M Pre-Series C, Bringing Total Funding to $40M
OneDome, the UK-based housing and fintech platform, has raised $25 million in a Pre-Series C funding round, taking total funding raised to date to $40 million.
intelliflo and Söderberg & Partners Form Strategic Partnership to Drive Adviser Efficiency
intelliflo and Söderberg & Partners today announced a new strategic partnership designed to deliver greater efficiency, smarter workflows and an enhanced technology experience for financial advice firms.
Axiology Secures €5 Million Seed Funding to Accelerate the Modernisation of Europe’s Capital Markets
Uniting Europe’s capital markets by consolidating issuance, custody, trading, and settlement of securities into a regulated system built on DLT.
ComplyAdvantage Fintea Chats: Lucy Heavens on Compliance, Technology and the Future
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Chargebase Launches to Help Merchants Cut Chargebacks and Give Easy Access to Verifi and Ethoca Alerts
Chargebase, a new chargeback-prevention platform built for high-growth e-commerce and SaaS businesses, today announces its official launch. Designed to solve an expensive and existential problem for merchants – chargebacks – Chargebase gives companies instant access to Verifi and Ethoca alerts in a single, easy-to-use platform with automated workflows and transparent pricing.