Tagged: lending

Lending Club CEO: “Our Goal Is To Transform The Banking System”

renaud laplanche

Lending Club CEO Renaud Laplanche spoke with The Street recently about Lending Club’s growth and long-term goals as a platform. He didn’t shy away from the platform’s ultimate goal, which is to disrupt and bring increased efficiency to the banking sector. He also spoke briefly on the possibility of an eventual IPO for Lending Club…. Read More

Brief: Lending Club Ceases Daily Platform-Wide Loan Origination Data Updates

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Lending Club will make a change to their platform that will result in the removal of daily loan origination data across the platform. They’ll instead opt to share data on a quarterly basis. The announcement came via Lending Club’s blog… Instead of posting new issuance data daily, we’ll now post new issuance data quarterly within… Read More

Prosper Becomes Latest Billion-Dollar Platform, Underscores Peer Lending Dominance

Prosper

$1 billion in loans 3,000% growth in eight years 118,000 personal loans issued Over 75,000 investors Over 93,000 borrowers 47 states Its been a long road since the first loan in 2006. Since then the $1 billion dollars issued through Prosper went towards helping people fix their debts, pay medical bills, chase their dreams, and… Read More

Lending Club To Crack Down On Screen Scrapers, Automatic Investment

lending-club

According to Lending Memo’s Simon Cunningham, Lending Club is planning to crack down on third party tools making use of screen scrapers. More specifically, Cunningham points to tools that automatically invest on behalf of the user by faking that user’s actions. Note that screen scraping has always been against Lending Club’s Terms of Service, but… Read More

Wells Fargo Backpedals On P2P Lending Ban For Employees

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Wells Fargo has reversed a ban on employees participating in the peer-to-peer lending arena after the announcement of the measure garnered international attention. Related – Wells Fargo To Employees: No Peer-To-Peer Loans According to the San Francisco Business Times, Wells Fargo spokesman Ruben Pulido clarified that “The original guidance given to team members was based on investing in… Read More

WATCH: Google And Facebook As Giants In Financial Services?

motley-fool

In this video Motley Fool analysts David Hanson, Tyler Riggs, and Matt Koppenheffer debate peer-to-peer lending. Interestingly, about halfway through the video the trio begins to discuss Google and Facebook getting into the peer-to-peer lending space. Will they? It bears mentioning that Google Capital is an investor in Lending Club, so it’s unimaginable that Google would… Read More

Lend Academy’s Peter Renton To Launch Managed Fund For P2P Loans

Lend Academy

Peter Renton has been informing the world about the peer-to-peer lending space for some time now. Lend Academy is a great source of deep information on P2P lending and stalwart platforms like Lending Club and Prosper. Renton is now taking his place in the space to the next level. He’s looking to raise $28 million to launch… Read More

FCA Publishes Final Rules For Crowdfunding In UK

financial conduct authority fca

They’re here. The Financial Conduct Authority (FCA) has published rules governing equity and lending-based crowdfunding in the UK. They are set to take effect on April 1 with a review scheduled for 2016. chris-woolard-bioChristopher Woolard, director of policy, risk and research at the FCA, said, ”We want to ensure that consumers are appropriately protected – but… Read More

Mosaic Offers Connecticut Homeowners Crowdfunding-Powered Solar Loans

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Mosaic has teamed with The Clean Energy Finance and Investment Authority (CEFIA) and Sungage Financial in a $5 million deal to offer homeowners crowdsourced loans for solar installations. This partnership is creating an entirely new ecosystem for solar financing in which individuals can take part in and benefit from home solar installations. This new loan product represents… Read More

Abundance Generation Claims Green Crowdfunding Record With Latest Raise

abundance generation

Abundance Generation is claiming a record for a crowdfunding campaign in the green energy space after a recent project raised £214,000 in just four days according to BusinessGreen. Renewable Energy Generation launched the project, dubbed REG High Down. The wind installation comprised of a single 500 kW wind turbine is seeking a total investment of… Read More

Lending Club’s New Stat Charts For Investors Carry Big P2P Lending Lesson

lending-club

Lending Club has announced the addition of two new statistical charts aimed at helping their investors understand trends in returns. Notably, both charts seem to actively encourage investors on Lending Club to have at least 100 notes in their portfolio for the purposes of diversification. See the new Lending Club charts here Chart one shows… Read More

Why RealtyShares Is Accepting Bitcoin In Real Estate Crowdfunding Deals

realtyshares

RealtyShares only emerged from beta recently, in November of 2013 to be precise. Now the hybrid real estate crowdfunding platform has announced a new platform feature that will allow investors to use Bitcoin to invest in real estate deals. Why? It all boils down to foreign investors… Given that we have a global investor base… Read More

IOSCO: P2P Lending Drives Global Investment Crowdfunding Market Over $6 Billion

iosco

The International Organization of Securities Commissions (IOSCO) has released a working paper entitled Crowd-funding: An Infant Industry Growing Fast. It aims to provide a macro perspective of the global “financial return” or “FR” crowdfunding space. (Can we get a standardized taxonomy?!) The main takeaway from the report is the size of the global crowdinvesting ecosystem. Based on… Read More

Brief: Lending Club, Prosper Combine For $325 Million In New Loans In January

lending club and prosper

The US-based peer-to-peer lending space is off to a blistering start in 2014. January saw over $325 million in loan origination for Lending Club and Prosper. Lending Club accounted for over a quarter-billion in loans alone, up from $100 million in new loans in January of 2013. In short, Lending Club is on pace to… Read More

What’s In Store For Lending Club In 2014: An Interview With Renaud Laplanche

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In the ever-growing crowdfunding community, peer lending reigns supreme. A TD Economics report we covered last week estimates the size of the global crowdfunding industry at somewhere between $3 and $5 billion in 2013. Of the sites responsible for this emergent shift in capital access, Lending Club stands apart, having originated over $3 billion in… Read More

P2P Lending Trackers Nickel Steamroller, Prosper Stats Merge

nickel steamroller

Nickel Steamroller (NSR) has long been a popular tracker for statistics on Lending Club loans. The site is now broadening their reach with the launch of NSR 2.0, which includes the integration of data on Prosper Loans. Those seeking information on Lending Club and Prosper can now use NSR to track both. According to a… Read More

UK Peer Lending Platform Zopa Raises £15M

zopa

London-based peer lending platform Zopa has closed a £15 million funding round led by Arrowgrass Capital Partners. Augmentum Capital, Wellington Partners and Balderton Capital also took a stake. As part of the deal, Arrowgrass CEO Henry Kenner will receive a seat on the board. Zopa has raised over $56 million in venture capital since inception… Read More

Wells Fargo To Employees: No Peer-To-Peer Loans

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Wells Fargo has told its employees to scale back and eventually cease their participation on for-profit peer-to-peer lending platforms like Lending Club and Prosper. The banking behemoth’s “ethics administrators” cite a conflict of interest, pointing out that peer-to-peer lending is a competitive practice. The San Francisco Business Times provided the following excerpt from a message… Read More

Brief: Peer-to-Business Lending In Ireland Expected To Surge

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Zopa is the UK’s largest peer-to-peer lending service, and one of the company’s co-founders has made a pretty amazing prediction about the size of the peer-to-business lending market in Ireland. In an interview with The Irish Times, Simon Deane-Johns predicted that peer-to-business lending throughput in Ireland could grow to as much as €100 million in three… Read More

Hybrid, Accredited-Only Crowdfunding Platform “Breakaway Funding” Launches Next Week

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A new crowdfunding platform called Breakaway Funding launches next Tuesday. It aims to provide both equity-based and debt-based crowdfunding models for companies seeking to access the crowd’s capital. In order to take advantage of a new and ample source of business capital made available by the JOBS Act, banks, businesses and investors can benefit from working… Read More