Tagged: online lending

BorrowersFirst Secures Additional $100 Million in Debt Financing to Accelerate Loan Originations

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Online consumer lending platform, BorrowersFirst, announced on Wednesday it secured an additional $100 million in debt financing to accelerate loan originations, and fund the continuous growth of its balance sheet.  With this new facility, the lender has secured $400 million to support its profitable growth. … 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

SoFi: Mortgages will Experience Fastest Growth

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SoFi expects the online mortgage origination industry to be a big portion of their business. In fact, they expect mortgages to experience the fastest growth of any of their products to date. National Mortgage News shared some comments from SoFi management including Chief Revenue Officer… 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

SME Lender Loan Frame Receives $2.25 Million Investment

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Loan Frame, an online lender providing access to capital in India, has raised $2.25 million. According to the India Times, the funding round was led by Parag Saxena, co-founder of Vedanta Capital and William Campbell, former chairman of Visa International. Additional investors included Toos Daruvala, co-chief executive… Read More

P2P Platform Flender Surpasses £485,000 During the Final Week on Seedrs

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With less than a week until its Seedrs campaign comes to an end, P2P lending platform Flender has secured 98% of its £500,000 funding target (more than £485,000) from 225 investors.  As previously reported, Flender is authorized and regulated by the Financial Conduct Authority under… 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

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

Lendscape: Orchard Updates Online Lending Infographic as 2016 Comes to a Close

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Orchard Platform, the nexus of institutional money flowing into online lending platforms, has updated their Lendscape: a visual presentation of the online lending ecosystem. As industry participants know all too well, 2016 has been a challenging year for lenders. Orchard states that 2016 saw increasing… Read More

Funding Circle to Receive An Extra £40 Million From British Business Bank For Small Business Lending

Funding Circle Founders UK

Funding Circle announced on Thursday that government-owned British Business Bank would begin lending a further £40 million directly to small businesses through the marketplace lending platform. The website confirmed that this news comes less than two years after an initial £40 million investment by the British Business… Read More

SoFi’s Mike Cagney Discusses Future Plans & Competition on “Bloomberg Technology” (Video)

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Earlier this week, CEO of online lender SoFi, Mike Cagney, sat down with Caroline Hyde on “Bloomberg Technology” to discuss the platform’s plans for 2017 along with revealing details about the lender’s competitors. SoFi, which was founded in 2011, currently offers various types of lending options…. Read More

Fluid Offers 0% Interest “Social Credit” in New Twist for Online Lending

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Total US revolving debt (think credit cards and more) is nearing $1 trillion. This sector of credit is growing rapidly at around 7% a year. Simultaneously, there is an emerging generation of consumers that is highly mobile, technologically savvy, and extremely skeptical of traditional financial… Read More

Fitch Expects to Rate SoFi Inaugural Residential Mortgage Backed Securities

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Fitch shared last week its intent to rate SoFi’s RMBS transaction that included 270 loans with a total balance of approximately $168.79 million. The group of loans consists of prime fixed-rate mortgages originated on the SoFi online lending platform. The presale report was pretty positive… 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

EstateGuru Reports: Average History Return Reaches Highest In December 2016

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EstateGuru, a peer to peer lender based in Estonia, announced on Thursday its average historic return reached the level 13.4% (since December 2014), which the platform claims to be the highest return among crowdfunding platforms for secured property loans. The online lender’s founder and CEO Marek… Read More

SoFi Makes Debut on “The Ellen Show” (Video)

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  Last week, SoFi, one of the largest online lenders in the US, made a special appearance on the hit talk show The Ellen Show and offered the audience a bit of a surprise. As previously reported, SoFi describes itself as a “modern finance company.” Its mission has… Read More

Prosper Names David Kimball New Chief Executive Officer

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On Monday, online lender Prosper Marketplace announced its board of directors has named former CFO David Kimball as the new CEO after Aaron Vermut stepped down from the position. Vermut notably served as the CEO of Prosper since March 2014, and the platform reported that he would… Read More

Brief: i2B Closes $4M Asset-Based Revolving Line of Credit+ with CFG Merchant Solutions

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i2B Capital, a direct financing provider to niche-market financial entrepreneurs, is pleased to announce the closing of a $4 million asset-based revolving line of credit with an accordion to $6 million with CFG Merchant Solutions, a privately owned and operated specialty finance company focused on… Read More