{"id":2872,"date":"2020-03-23T15:35:00","date_gmt":"2020-03-23T15:35:00","guid":{"rendered":"https:\/\/www.xolv.nl\/?post_type=nieuwsitem&p=2872"},"modified":"2022-01-05T15:37:11","modified_gmt":"2022-01-05T15:37:11","slug":"funding-circle-stops-with-immediate-effect-the-end-of-fintechs","status":"publish","type":"nieuwsitem","link":"https:\/\/www.xolv.nl\/en\/nieuwsitem\/funding-circle-stopt-per-direct-het-einde-van-de-fintechs\/","title":{"rendered":"Funding Circle quits with immediate effect. The end of fintechs?"},"content":{"rendered":"

Decline of alternative financiers?<\/strong><\/h2>\n\n\n\n

Funding Circle is a company that does in fintech<\/em>. Fintech is the contraction of financial technology<\/strong>, meaning technology and innovation aimed at competing with traditional financial methods in the delivery of financial services. With such a major player quitting, one would expect this to be the beginning of the decline of this type of alternative finance provider. That is not the case. We at Xolv think the withdrawal of Funding Circle an exception<\/strong> is because the company had an aggressive marketing strategy, resulting in high costs and mounting losses. Shareholders lost patience and voila: there is the end.<\/p>\n\n\n\n

Young, modern alternatives<\/strong><\/h2>\n\n\n\n

Fortunately, there are still plenty of young finance companies<\/strong> which, with new products - and in particular more modern underwriting criteria - Offering alternatives to loans from general banks<\/strong>. Sometimes these financings can be used as a substitute for 'normal' bank credit. It is also often possible to use these financings in addition to bank credit. Especially for short-term credit needs for new investments or rapid growth, these are ideal forms of financing<\/strong>.<\/p>\n\n\n\n

More expensive, but (much) faster<\/strong><\/h2>\n\n\n\n

Some alternative financiers require similar collateral as the bank, while others are willing to provide financing without collateral. The costs are higher in that case, but that is offset by Flexible underwriting criteria and quick availability of loans<\/strong> versus. Whereas a bank usually takes several months to process an application, with the alternative fintechs<\/em> often within a few working days<\/strong>. Just what you want when you need quick credit.<\/p>\n\n\n\n

Do you engage the advisers of Xolv Finance? Then you will have access to our extensive network of alternative financiers. Of course, you can also simply approach us for traditional forms of financing.\u00a0In all cases, we are happy to think along with you<\/a>!<\/p>","protected":false},"excerpt":{"rendered":"

Completely unexpectedly, it was announced in mid-March that Funding Circle was withdrawing from the Dutch and German markets with immediate effect. Most employees will be laid off, the current loans will still be dealt with and then the adventure will be over. Funding Circle was - by its own admission - the largest provider of alternative finance in the Dutch market, with a total amount lent of EUR 220 million.<\/p>","protected":false},"featured_media":2880,"template":"","onderwerp":[24],"class_list":["post-2872","nieuwsitem","type-nieuwsitem","status-publish","has-post-thumbnail","hentry","onderwerp-overige-oplossingen"],"_links":{"self":[{"href":"https:\/\/www.xolv.nl\/en\/wp-json\/wp\/v2\/nieuwsitem\/2872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.xolv.nl\/en\/wp-json\/wp\/v2\/nieuwsitem"}],"about":[{"href":"https:\/\/www.xolv.nl\/en\/wp-json\/wp\/v2\/types\/nieuwsitem"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.xolv.nl\/en\/wp-json\/wp\/v2\/media\/2880"}],"wp:attachment":[{"href":"https:\/\/www.xolv.nl\/en\/wp-json\/wp\/v2\/media?parent=2872"}],"wp:term":[{"taxonomy":"onderwerp","embeddable":true,"href":"https:\/\/www.xolv.nl\/en\/wp-json\/wp\/v2\/onderwerp?post=2872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}