Tagged: marketplace

Credible Raises $10 Million in Series B Funding

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Credible, a multi-lender marketplace for student and personal loans, has closed on a $10 million Series B funding round.  The newest round brings total funding to $23 million to date for the young Fintech firm. The series B funding round was led by Regal Funds… Read More

Lending Club Releases Investor Update on Loss Forecasts

Lending Club booth

lending clubLending Club (NYSE:LC) has filed an 8-K regarding an investor update from the company’s Chief Investment Officer Siddhartha Jajodia. The letter includes an update on expected delinquency rates across the existing loan portfolio following changes made several times in 2016, and implemented additional changes… Read More

Lending Club Schedules Q4 Earnings Release for February 14th

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Lending Club (NYSE: LC), the leading US marketplace lending platform,  will issue its Q4 earnings report on Tuesday, February 14, 2017, after market close. Lending Club will host a conference call to discuss the fourth quarter financial results at 2:00 p.m. PT / 5:00 p.m. ET on… Read More

Ciao Italia! Lendix Expands into Italy

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Marketplace lending platform Lendix has landed in Italy. The Paris-based operation has announced the appointment of Sergio Zocchi as CEO.  Lendix said that Zocchi has over 20 years experience in high-tech and finance as he leads the local Lendix team based in Milan. Lendix said… Read More

4thWay Predicts UK P2P Lending Market to Grow Up to 50% in Coming Year

UK Charles Darwin Money

  4thWay, a P2P ranking site, has published a report on the UK peer to peer lending market.  According to their numbers, delivered another “record year”, with a total of £3.02 billion facilitated via 35 various platforms in the UK. The totals are as follows: Consumer loans… Read More

Adventure Awaits: Tourism Marketplace Ridewithlocal Aims to Secure £400,000 Through Crowdcube Initiative

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Ridewithlocal, an online marketplace for adventure tourism that connects users directly to over 700 verified instructors globally in a range of activities, is seeking £400,000 during its equity crowdfunding campaign on Crowdcube. The platform, which was founded in 2015, already has more than 700 instructors… Read More

Online Marketplace Desi High Street Seeks £100,000 on Crowdcube

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Desi High Street, an online marketplace that connects customers with ethnic/desi/South Asian goods retailers and businesses, launched an equity crowdfunding on Crowdcube and is seeking £100,000 in funding. The marketplace stated it considers itself one of the first websites to provide a one-stop-shop for British Asian… Read More

Wellesley Aims to Raise £1.5M on Seedrs for Further Expansion

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Peer to peer lending platform Wellesley has been crowdfunding on Seedrs for almost a month to raise £1.5M (approximately $1.82M). The campaign is currently restricted to Wellesley customers so it is hard to track. Investors have the chance to buy shares in the P2P platform… Read More

Share the Love: Goldman Sachs’ Online Lender Marcus Now Open to All Borrowers

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Marcus, Goldman Sach’s (NYSE:GS) foray into the universe of online lending, launched late last year. The catch was you had to be “invited” to take out a loan. Management was clearly testing things before the training wheels came off. Today, Marcus is emailing folks to let… Read More

What to Watch For in Marketplace Lending During 2017

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Predicting what will transpire in the coming year is always challenging, particularly in relatively nascent and growing industries such as marketplace lending. While surprises are undoubtedly in store for 2017, indications are that certain trends—the growth of bank partnerships and industry consolidation—will continue and accelerate… Read More

Advisor Focused P2P Platform Octopus Choice Receives FCA Approval

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Peer to peer lending platform Octopus Choice has received full authorisation from the Financial Conduct Authority. Octopus Choice is part of Octopus Investments. The company said the FCA approval was a first for an advisor focused P2P platform. Richard Wazacz, Head of Octopus Choice, commented on the… Read More

Top Ten Fintech Predictions for 2017

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The following are my top ten Fintech predictions for the coming year. While 2016 has been a momentous period in Fintech innovation there is more to come. 10 – Sensors Internet of Things (IoT), Wearables, Smart Home and Connected Car will bring massive change to… Read More

Prosper President Ron Suber: “Change is the Only Constant. Victory Goes to the Ones Who Change”

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In the world of alternative finance, one US industry was probably happy to see 2016 end. Online lending, both marketplace lenders (née P2P lending) and balance sheet platforms, hit the proverbial brick wall during last year. Rumblings of a more challenging environment picked up in… Read More

Crowdfunding & Fintech Predictions for 2017

Fortune Cookie Golden Investments Ahead Future

Last year due to time constraints I was unable to publish my list of Crowdfunding/Fintech predictions for 2016. This year I am back once again, for better or worse, peering deep into my crystal ball with a list of prognostications for the coming year. The… Read More

All By Mama Achieves £75,000 Funding Target During the Final Week on Crowdcube

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With less than seven days until its equity crowdfunding campaign on Crowdcube comes to an end, online marketplace that’s dedicated to parent-run businesses All By Mama has secured its initial £75,000 funding goal thanks to 185 investors. The platform recently decided to extend its initiative, which was supposed to close… Read More

What to Expect for Marketplace Lending in 2017

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Market credibility and an emphasis on better transparency will be two key factors for marketplace lending in 2017. 2017 will be a pivotal year for the marketplace lending (MPL) space as the market will seek stabilization in both confidence and venture funding, following a challenging… Read More

VPC Sells P2P Loans Originated on Funding Circle as it Re-Focuses on Balance Sheet Investments

UK Queen Elizabeth Money

VPC Specialty Lending Investments has sold its portfolio of peer to peer loans that were originated on Funding Circle UK.  VPC stated it was seeking “less volatile returns” in selling the P2P assets. “The sale helps accelerate the company’s strategy of reallocating capital away from… Read More

Even Financial’s Phill Rosen on P2P Lending Industry’s Future: I Think We Will See Some Consolidation in the Space

Phil Rosen of Even Financial LendTech Angels LendLab

Earlier this week, fintech firm Even Financial announced it increased loan originations by 205% quarter over quarter since the beginning of 2016 and surpassed $1.5 billion in loan requests. The company has experienced solid growth since it was founded in 2014. Even Financial is aiming… Read More

Lending Club CTO Resigns

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Lending Club (NYSE:LC) filed an 8K yesterday indicating that Chief Technology Officer John MacIlwaine had submitted his resignation on December 15th. MacIlwaine decided to depart from Lending Club to pursue another opportunity.  Lending Club stated that Richard Southwick, Senior Vice President for Technology, will oversee… Read More

Money Platform, a P2P Short Term Lender, Launches with Full FCA Authorisation

UK Charles Darwin Money

The Money Platform has launched in the UK.  The Money Platform is a peer to peer lender that targets short term credit of 3 to 12 weeks. After participating in the FCA’s Project Innovate incubator program, the Money Platform received the FCA’s full consumer credit… Read More