Tagged: lending

Brief: Y Combinator Continuity Leads LendUp’s Latest Round to Grow L Card

Sasha Orloff

LendUp has secured a $47.5M round to grow its L Card, a credit card touting no hidden fees and a flexible payback schedule;  the round was led by Y Combinator Continuity and joined by GV (Google Ventures rebranded), Thomvest Ventures, QED Investors, Data Collective, Susa Ventures, Radicle… Read More

Brief: loanDepot Closes $150M Capital Transaction

Anthony Hsieh loandepot

Last week, loanDepot announced the closing of its $150 million capital transaction. The online lender revealed it plans to use the funds to continue investments in technology and product development. Sharing details about the transaction, Anthony Hsieh, chairman and CEO at loanDepot, stated: “Capital investment in consumer lending and in the mortgage industry… Read More

Zopa Teams Up With Sphonic to Detect Real-Time Fraud

Jaidev Janardana

On Monday, peer-to-peer lending platform, Zopa, announced it has teamed up with risk management business, Sphonic, to launch the Workflow Manager (WFM) solution for real-time fraud detection. Zopa reported that WFM’s software acts as a context-broker that leverages data points from over 50 of the… Read More

Biz2Credit Reports: Loan Approval Rates at Banks Improve, While Alternative Lenders’ Percentages Drop Significantly in April 2016

Rohit Arora

On Tuesday, online resource for small business finance, Biz2Credit announced its recent reported revealed that loan approval rates at banks improved while alternative lenders’ percentage dropped significantly last month. The website confirmed that big banks ($10 billion+ in assets) approved 23.1% of loan applications in… Read More

Lendio Reveals Top 10 Best States for Small Business Lending (Infographic)

Brock Blake

Lendio, an online service that helps business owners find small business loans, announced on Friday its top 10 best states for small business lending. This list was created in celebration of National Small Business Week and is based on lending data from the platform, which… Read More

Overfunding on Crowdcube: WiseAlpha CEO Ahmad Discusses Growth and Fintech Disruption

Rezaah Ahmad

wiseAlpha, an online platform that allows people to invest in secured corporate loans of blue-chip British brand name companies such as Virgin Media, RAC, United Biscuits and Eddie Stobart, aims to give people the opportunity to earn a higher rate of interest and diversify their… Read More

Knecht Gives Funding Circle Update; Mullane Joins Business Development Team from Barclays

Matthias Knecht

Neil Mullane has joined Funding Circle’s business development team after heading Barclay’s  business and corporate banking, supporting small businesses with a £250,000 to £25 million turnover. Mullane brings eight years of experience in commercial finance, and will play an active role in continuing to build the intermediary channel. “It’s an… Read More

LendFoundry Presents Fintech Lending Operating System at LendIt 2016

manoj_mathew

On Monday, LendFoundry presented its very own fintech lending operating system at LendIt 2016, which was held in San Francisco. The company reportedly provides end-to-end lending solution that simplifies loan origination, marketing, acquisition, underwriting, servicing and beyond. Sharing details about the company’s system, Timothy Li, co-founder and… Read More

Torrie Inouye Appointed New National Funding President

Torrie Inouye

National Funding, a large private lenders of small business loans, today announced that Torrie Inouye has been named the company’s president. Inouye will report directly to Founder and CEO Dave Gilbert. “Torrie has played a critical role in our success to date, and her appointment as… Read More

Brief: CAN Capital Hits $6 Billion Milestone

dan-demeo-ceo-can-capital

CAN Capital, a market share leader in alternative small business finance, announced on Thursday that it has reached the milestone of providing small businesses with access to more than $6 billion.  CAN Capital revealed that it has helped facilitate over 170,000 small business. In the past five… Read More

Salil Mehta Joins LendKey as SVP of Credit Risk & Analytics Team

Salil Mehta

LendKey, the Lending-as-a-Service platform that connects borrowers with credit unions and banks with over $800 million in loan capital deployed through their bank and credit union clients, announced the appointment of Salil Mehta as Senior Vice President of Credit Risk & Analytics. Mr. Mehta, an… Read More

Brief: Spotcap, German Fintech Startup, Locks In €31.5M To Support Its Online SMB Lending Platform

Spotcap-Toby-Triebel

German online lending platform Spotcap has successfully closed its third financing round, according to the company’s recent press release. The Berlin-based financial technology company raised EUR 31.5 million in new funding led by international private equity firm, Finstar Financial Group, with participation from previous investor Holtzbrinck Ventures…. Read More

Brief: J. P. Morgan Chase Agrees to Aquire Nearly $1B Personal Loans Arranged by Lending Club

jp morgan wall street

J.P. Morgan Chase & Co. has agreed to acquire nearly $1 billion worth of personal loans arranged by LendingClub Corp., people familiar with the deal reported Nasdaq’s Telis Demos. The portfolio, worth just over $900 million and comprising loans made to consumers with an average FICO… Read More

Capitalia Broadens its AltFi Services for SMEs to include Estonia

capitalia

Capitalia, represented in NASDAQ Riga stock exchange, is the leading alternative financing provider for small and medium enterprises in Latvia and Lithuania.  This January Capitalia  obtained necessary permits to broaden its services to the Estonian market. Citing the current financial conditions that cause banks to be more cautious when financing… Read More

Moody’s: Securitization Provides Alternative Financial Solutions for Indian and Chinese Financial Systems

Courtesy ptmoney.com

Moody’s Investors Service avers that the development of domestic securitization markets will help India and China achieve their common goal of building inclusive financial systems that will ultimately bring affordable credit to the underprivileged segments of their societies and which are usually excluded from the conventional banking… Read More

ING Lead Investor in $160M in Series B Funding for Consumer Loan Provider WeLab: Aims to Improve Consumer Experience

China Lion

Fresh from its October 2015 investment in US marketplace lender Kabbage, Dutch bank ING has taken a stake in WeLab, a non-bank provider of consumer loans in China and Hong Kong. ING participated in a Series B $160 million (RMB1 billion) fundraising in the three-year old… Read More

Cashfloat Designs FCA-Compliant Lender Affordability Model, Parameters Support Lending Decisions

cashfloat

Cashfloat’s data-modelling scientists have developed an advanced affordability model, designed to generate a clearer picture of the client’s affordability. This enables the Cashfloat team to make decisions about lending, better aligned with the FCA compliance framework. Western Circle Ltd, a London-based lending company trading as Cashfloat.co.uk, confirmed that… Read More

Funding Circle Update: Did You Help 146 Businesses Access Finance Last Week?

Funding Circle and Zencap founders

Funding Circle posed the question on its blog, “Did You Help 146 Businesses Access Finance Last Week?” While many readers were still on holiday, during the week of 4 – 8 January, it was back to business for fintech and the crowdfunding sectors!  Funding Circle investors… Read More

Dealstruck Teams Up With Lendio to Release Joint eBook: “Small Business Lending in the Digital Age”

Dealstruck Lendio

On Tuesday, small business lending platforms Dealstruck and Lendio, announced the release of their joint eBook, “Small Business Lending in the Digital Age,” which focuses on strengths, weaknesses, and projections regarding the online small business lending industry. Ethan Senturia, CEO of Dealstruck, stated: “Small businesses are the backbone of… Read More

Fundera Releases New Report on the State of Online Small Business Lending

Jared Hecht

Fundera, an online marketplace for small business loans, announced on Monday the release of its new report on the State of Online Small Business Lending. The platform believes that this new document shows its dedication to transparency in the alternative lending sector. The report was… Read More