Funding Circle co-founder and U.K. chief James Meekings is stepping down after the startup lost £31 million in HI 2019. The scale of losses in most fintech foreign startups is an indication that this sector is about scale since margins are very low. Nigerian peers must examine if they have to forgo profitability for market share at least in the short-run.
Last month it warned it was scaling back lending due to concerns about the uncertain economy’s impact on younger SME customers. Growth will halve to 20% this year.
Meanwhile, Mastercard is paying €2.85 billion for a majority stake in the corporate services group of Nets, the Danish provider of payments technology. Through this, Mastercard is making sure whatever disruption that comes it will be at the center of it.
Funding Circle co-founder and U.K. chief James Meekings is stepping down after the startup lost £31 million in HI 2019. The scale of losses in most fintech foreign startups is an indication that this sector is about scale since margins are very low. Nigerian peers must examine if they have to forgo profitability for market share at least in the short-run.
Last month it warned it was scaling back lending due to concerns about the uncertain economy’s impact on younger SME customers. Growth will halve to 20% this year.
Meanwhile, Mastercard is paying €2.85 billion for a majority stake in the corporate services group of Nets, the Danish provider of payments technology. Through this, Mastercard is making sure whatever disruption that comes it will be at the center of it.
