Tagged: peer to peer

Will the FCA Clamp Down on Peer to Peer Lenders?

Peer2PeerLendingUK

Wellesley and Co., a UK based peer to peer lending platform, was recently removed from the roster of the Peer to Peer Finance Association (P2PFA).  This occurred in conjunction with being forced to change its advertising strategy as they apparently misused the term “guarantee” in a television commercial.  This event was shared in a recent… Read More

Brief: Zopa Signs up C4L to Boost Network & Security

P2P

Peer to peer lender Zopa has contracted with the C4L network for fast and secure circuit connectivity between Zopa’s Data Centres and headquarters. Zipper’s CEO Matt McGuire, was quoted on the arrangement: “We are very pleased with the service we have received from C4L and the solution they have created for us. Our customers’ data is extremely secure… Read More

SoFi to Sell $314 Million in Securities Backed by Student Loans

Sofi at NYSE

SoFi, an innovative funding platform that has pushed aggressively to tackle the world of student loans, is preparing to offer $313,800,000 in asset backed notes.  The securities will be secured by private student loans. DBRS has assigned a provisional rating of AA to the Class A-1 and Class A- 2 notes. According to DBRS, as… Read More

Peer to Peer Lenders & RBS Join Forces to Fund UK Businesses; Chancellor of the Exchequer George Osborne Welcomes P2P Partnership

Royal Bank of Scotland RBS

The Royal Bank of Scotland has struck an arrangement with leading peer to peer lenders Funding Circle and Assetz Capital that should give UK small business a boost.  RBS announced it will now formally refer small business borrowers to P2P lenders.  The strategic shift is expected to give “thousands of small British Businesses greater access… Read More

Unilend & Groupama Banque Partner Up to Aid French SMEs

Groupama Banque Crowdfunding

Unilend, a leading peer to peer lending platform based in France, has formed a partnership with Groupama Banque to channel € 100 million to small and medium businesses over the next four years.  The arrangement is the first of its kind in France. Unilend has loaned over € 7.5 million to date. Groupama Banque will have… Read More

FCA Advocates Consumers Look at Alternatives to Bank Savings Accounts. P2P Lenders Pick Up the Call.

telephone hang up communication

These days it may make sense to keep your money under your mattress as opposed to placing it in a bank savings account. After you get through the miscellaneous fees, a savers rate of return can easily go negative.  At least the mattress won’t charge a fee. The Financial Conduct Authority (FCA) in the UK… Read More

ArchOver: Ignorance & Risk Aversion Impede SME Investment

Peer to Peer Blue

Peer to peer lending platform ArchOver recently signed up Wriglesworth Research to dig into consumer awareness and the acceptance of crowdfunding. From November to earlier this month (January) 500 adults were polled as to their opinion regarding new forms of investment.  The results, provided by ArchOver, were described as indicating “crowdfunding ignorance, combined with huge public aversion to… Read More

Former Morgan Stanley Executive & GLG Head joins Lending Works as Non-Executive Director

Lending Works

London-based  peer-to-peer lender,Lending Works, is pleased to announce the appointment of Jason Mackay to the fast-growing peer-to-peer lending company’s Board as a Non-Executive Director.  Mackay has extensive experience in global financial markets, having most recently worked as a Managing Director at Morgan Stanley. For seven years, he was co-head of hedge fund GLG’s UK equity business, responsible… Read More

Marketplace Lending Is Doing What Banks Can’t

The Changing World of Banking

Lending Club’s IPO was massively successful. Up 56% on the first day of trading. $1B of additional cash raised. Largest IPO out of Silicon Valley in 2014. Higher market valuation than all but 14 banks in the U.S. That it was the first “peer-to-peer” lending company to go public made it that much more meaningful. Finance is not just being disrupted,… Read More

Funding Circle Partners with Herefordshire Council to Boost Local Economic Growth

Funding Circle Herefordshire

Funding Circle, a business oriented peer to peer lending platform, has signed onto a new partnership with local government Herefordshire Council to launch a “pioneering” agreement.  The new partnership is designed to boost local economic growth and job creation via improved access to business finance.   Herefordshire Council has committed to lend £50,000 directly to… Read More

FundingKnight Says Demand Pushes them to Raise Loan Limit to £500,000

Graeme Marshall

Southhampton based FundingKnight has increased its loan limit to £500,000 to match demand, according to a company statement.  FundingKnight is a peer to peer lender that targets the business segment of the industry.  The increase is effective immediately. The decision to raise the limit was described as reflecting “borrower demand from the market place and will… Read More

Grouplend Targets the Canadian Peer to Peer Lending Market

Grouplend Refreshingly Simple

Across the globe traditional banking operations are under attack by more nimble and user friendly companies that see opportunity in an industry that is in dire need of change. The internet and technology has completely altered so many different industries with its creative destruction. The finance industry happens to be next on the list. While… Read More

Prospectus for New Share Offer from P2P Global Investments is Published

P2P Word Cloud Boost

P2P Gobal investments announced last week they were initiating a new funding round to raise £200 million in a C share offer.  The company has now published the prospectus for the offer. This is following a successful 2014 as P2P Global became the first fund to target the P2P lending industry.  P2P global invests across… Read More

Lending Club IPO: A Watershed Moment for Peer to Peer Lending

Lending Club Successful IPO

  As far as the peer-to-peer or marketplace lending industry is concerned, 2014 ended with a bang and not a whimper as Lending Club, the leading online lender, completed its initial public offering. On December 10, 2014 the Lending Club offering went effective, and ultimately sold 66.7 million shares, raising $834 million at an almost… Read More

Lenovo is Expanding into Peer to Peer Lending

EloanCN

Legend Holdings, the holding company of Lenovo computer, is expanding into peer to peer lending and other forms of finance.  The investments are part of an overriding strategy to both acquire and grow core assets while simultaneously boosting growth with non organic expansion.  Legend hopes to become a publicly traded holding company within the next two… Read More

Peer to Peer Lender Harmoney Raises $10 Million as Trade Me Leads with 15% Stake in Company

Harmoney is exciting

Harmoney, New Zealand’s first peer to peer lending platform, has raised $10 million in new funding to support the company’s growth. The decision to raise capital was said to be “in response to customer demand that has driven rapid month-on month growth since the launch of the Harmoney platform”. Harmoney is the first, and presently… Read More

Zopa Expects £550 Million in Loans for 2015

Zopa Money Trees

UK peer to peer lending platform Zopa experienced an 81% rate of growth for 2013, according to a report in the Telegraph.  The ten year old platform is booming as total loans stood at £268 million for 2014, a number that is predicted to jump to £550 million for 2015 according to the report. Since… Read More

WeLab Raises $20 Million for WeLend P2P Site

WeLend

Hong Kong’s first peer to peer lending platform WeLend has now closed a Series A funding round topping off at $20 million. The funding round was originally started in June when WeLab raised $14 million.  The additional $6 million was just added as new investors joined in. WeLend pushed into mainland China in 2014 and… Read More

Dianrong.com Collects $12 Million to Grow P2P Lending in China

Great Wall of China (Wikipedia)

Shanghai-based online financial services firm Dianrong.com stated it has entered into an investment agreement with Northern Light Venture Capital (NLVC), under which the company has received “tens of millions of dollars in investment from NLVC”. Dianrong.com states it has become a fast-growing peer-to-peer (P2P) lending website since going live in March 2013. As of the end… Read More

P2P Global Investments Will Raise £200 Million in C Share Offer

P2P

P2P Global Investments has announced its intent to raise £200 million in a new funding round.  P2P Global Investments became the first ever P2P investment fund to trade shares on the LSE last summer (LSE:P2P).  At the time of the listing P2P Global stated its intent to purchase loans from P2P lenders such as Zopa, Funding Circle… Read More