Tagged: peer to peer

SME Lender First Circle Receives $1.2 Million Seed Round to Launch in Philippines


Irish born but Asia based, First Circle has received $1.2 million in seed funding led by Key Capital and IMJ Investment Partners.  The online lender is targeting SME in the Philippines first but plans on expanding across Southeast Asia. Speaking with Businessworld.ie, Patrick Lynch, the… Read More

Insider: China Tells Regional Governments to Start Investigating Fraud

China Punishiment Image

This past weekend, Crowdfund Insider reported that China government officials published a list of restrictions for peer to peer lenders. These were largely a rehash of previously revealed regulations directed towards internet finance and more specifically peer to peer lending. But the Chinese government is… Read More

Fitch: Goldman Sachs Blends Banking & Fintech with Launch of Marcus

Goldman Sachs Born to Change

Fitch Ratings is out with a note on Goldman Sachs’ foray into the online lending market. Fitch says that Marcus, Goldman’s recently launched lending platform, seeks to combine the best of both Fintech and the stability of being a more traditional bank. Marcus is differentiated from… Read More

CircleBack Lending Stops Making Loans, May Transfer Portfolio to Another Company


CircleBack Lending has stopped making loans. This is according to a report by Bloomberg. The online lender said that funding had vaporized as some borrowers failed to repay their loans.  CircleBack provides unsecured consumer credit for loans from $3000 to $35,000. Michael Solomon, CEO and co-founder… Read More

Zopa’s Jaidev Janardana at LendIt Europe: “We Were Profitable in September & We’ll Be Profitable Moving Forward” (Video)


Earlier this week, CEO of peer-to-peer lending platform Zopa Jaidev Janardana took to the stage of the marketplace lending conference, LendIt Europe, to share details about the industry’s growth and development over the past year. During his keynote speech, “2016: Growing Up,” Janardana noted despite… Read More

Lending Club Chief Investment Officer Sends Letter to Investors Providing Credit & Interest Rate Update

Lending Club booth

Siddhartha Jajodia, Lending Club‘s Chief Investment Officer, has forwarded a letter to the platform’s investor’s updating the key stakeholders on credit and interest rate changes. The letter from Lending Club (NYSE:LC) was disclosed in an 8-K filed with the SEC today (October 14, 2016). In… Read More

P2P Platform Lending Works Receives Full FCA Authorization

FCA Approved

Lending Works, a consumer peer to peer lending platform, has received full authorisation by the Financial Conduct Authority (FCA).  Lending Works said it had originally applied for FCA approval in October of 2015 and had undergone a “stringent review process”. Lending Works has been operating… Read More

Lord Adair Turner: Direct Lending May Make the Financial System More Stable


  The answer is keep it simple, and  keep it transparent. The above statement came from Lord Adair Turner in a speech delivered at LendIt Europe this week. He was reflecting upon how peer to peer lending can avoid situations of systemic risk as exemplified… Read More

Lord Adair Softens Stance Towards Peer to Peer Lending at LendIt

Lord Adair Turner

Lord Adair, the former FSA Chair and longtime banker, sideswiped the UK online lending industry last year during an interview on BBC.  Adair criticized the peer to peer lending industry in a blistering statement regarding disruptive online lenders; “The losses which will emerge from peer-to-peer… Read More

The Regulatory Framework for Peer-to-Peer Lending Industry in Thailand : A Consultation Paper Issued by the Bank of Thailand


The Peer-to-Peer Lending Industry in Thailand Peer-to-peer lending, which is also known as social lending or crowdlending, has drastically increased in the recent years in many countries around the world. The total volume of peer-to-peer lending activities has been growing rapidly. A good example is… Read More

China: WeiyangX Fintech Review


PowerEgg Drone: Most crowdfunded campaign in the drone industry ever! Up to 30th September, 2016, PowerEgg Drone from PowerVision has raised more than ¥86.3 million (USD $12.87 million), becoming the most funded campaign on JD.com’s crowdfunding platform. The previous record belonged to Niu.com which raised… Read More

Prosper Launches Credit Card Optimizer to Help Consumers Make Better Financial Decisions

Credit Cards

Leading marketplace lending platform Prosper has launched a new credit card services. Prosper’s “Credit Card Optimizer” is designed to aid consumers in managing their credit cards more effectively – stratght from their smartphones. Credit Card Optimizer seeks to save consumers money by solving common credit… Read More

LendInvest Reports Profit Alongside 133% Revenue Increase

Christian Faes

Online commercial mortgage marketplace lender LendInvest has released financial results and for the 3rd year running has reported a profit of £3.4 million. The company also stated that revenue rose 133% in the 12 months ending in March 2016. Gross revenue hit £32 million versus… Read More

P2P Lender Viventor Says Average Monthly Growth Stands at 60%


Finstar backed peer to peer lender Viventor has released a statement saying it is experiencing 60% average monthly growth during its first year of operation. The online lender launched in October 2015.  The company also shared that initial results after launch in 2015 were disappointing but said… Read More

Prosper Backs Out of Secondary Market for Loans

Prosper Cooler

According to multiple reports, Prosper is shutting down secondary trading for it’s loans eliminating a liquidity path for retail investors. The justification was stated as lack of demand. Bloomberg reported that Sarah Cain, a Prosper spokesperson, explained the decision as one driven by utilization; “While… Read More

Silicon Valley Clueless? Orchard Says Contrary to Popular Belief ABS Industry Positive Towards Online Lending


Orchard platform in their weekly report addressed the most recent ABS East conference – a hot Wall Street gathering on all things securitization. This year opening remarks were delivered by Steve Eisman who was made famous by his depiction in the Hollywood film the Big… Read More

Lend Responsibly: Folk2Folk CEO Jane Dumeresque Shares Vision of P2P Lending


In explaining how they are different, Folk2Folk, an up and coming peer to peer lender explains they are “resetting the values around lending money.” While embracing technology that facilitates the lending process, Folk2Folk maintains numerous brick and mortar locations as they believe in dealing with… Read More

ArchOver Touts Lender Protection Recognition from Independent Research

Angus Dent

Peer to peer lender ArchOver is pointing to a recent report from Equity Development regarding investor protection for lenders using their platform. The report calls ArchOver the “pioneer of secured and insured loans” for SMEs. ArchOver says that to date the platform has not experienced… Read More