Sweden Calls on EU to Pull Plug On Bitcoin Mining

In as we speak’s high Europe, Center East and Africa information, UK investing app Freetrade surpasses funding objective by 800%; Sweden calls on Europe to tug the plug on bitcoin mining. Plus, Kenyan FinTech Asilimia closes $2M pre-seed funding, Pan-African agency M-KOPA’s pay-as-you-go mannequin, and UK lawmaker requires pressing BNPL regulation.

UK Investing App Freetrade Surpasses Fundraising Purpose By 800% in First Day of Crowdfunding

U.Ok. investing app Freetrade exceeded its fundraising objective by greater than 800% in its first of seven days of fundraising on crowdfunding platform Crowdcube, pulling in additional than 8.1 million kilos ($10.8 million), in response to Freetrade’s funding web page. Greater than 6,100 buyers have contributed investments, in response to Crowdcube. Freetrade, a commission-free investing app, has greater than 1 million customers and 1 billion kilos in consumer property, in response to the corporate’s crowdfunding video.

Sweden Calls on Europe to Pull the Plug on Bitcoin Mining

Sweden’s monetary and environmental regulators have referred to as on the European Union to tug the plug on proof-of-work bitcoin mining as a result of destructive influence on the atmosphere, in response to a number of experiences. Erik Thedéen, director common of the Monetary Companies Authority of Sweden, and Bjorn Risinger, director common of the Swedish Environmental Safety Company, are each anxious that crypto mining will trigger the nation to be unable to fulfill local weather obligations.

FinTech Asilimia Closes $2M Pre-Seed Funding to Develop Past Kenya

FinTech startup Asilimia raised $2 million in a pre-seed funding spherical, with $1 million coming from a variety of European Angel buyers and $1 million in a debt spherical that included Bpifrance and GreenTec Capital Companions, in response to experiences. The Kenyan startup stated the pre-seed funding will assist group development and growth whereas debt funding will allow Asilimia to increase credit score to micro, small and medium enterprises (MSMEs).

Pan-African Asset Financing Mannequin Adjustments Lender, Shopper Economics of Pay-as-You-Go Plans

Mayur Patel, chief industrial officer of M-KOPA tells PYMNTS that the pay-as-you-go mannequin utilized by the corporate to finance life-enhancing merchandise for underserved clients in sub-Saharan Africa is extra inclusive than the BNPL service supplied in additional mature credit score markets.

UK Lawmaker Requires Pressing Regulation of Purchase Now Pay Later Suppliers

Using purchase now, pay later (BNPL) in the UK almost quadrupled in 2020 to 2.7 billion kilos (about $3.6 billion) of transactions, in response to official information from the Monetary Conduct Authority (FCA). Stella Creasy, a U.Ok. MP, has made but once more one other pressing name for BNPL regulation that may forestall customers, particularly younger folks, from taking over extra debt than they’ll afford.