Tagged: peer to peer

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

clueless-film-poster

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

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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

EY Gets Caught Up in Failed P2P Lender Jinxing Investments

China Yuan Renmibi

Shanghai Daily is reporting that global consultancy EY has gotten sucked into the collapse of peer to peer lender Jinxing Investments. According to the report, the Shanghai offices of EY has endured several protests becoming surrounded by angry investors who were under the impression that… Read More

China P2P IPO: Lufax Preps for Hong Kong Listing

Greg Gibb Lufax

Lufax, one of China’s largest peer to peer lending platforms, is preparing for its long-awaited IPO. This is according to a report in Reuters that stated the IPO could raise $5 billion. At the last funding round, Lufax captured a valuation topping $18 billion.  China… Read More

China: WeiyangX Fintech Review

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Fintech related cases would become an important area of civil and commercial trial in the future. On September 10, 2016, the sixth “Southern China Enterprise Law Innovation Forum” was held in Shenzhen. During the seminar of “China’s Law Innovation in Internet Age”, Yang Linping from… Read More

Revenue Up 46% at RateSetter. Pre-Tax Loss Stands at £4.9 Million

Rhydian Lewis

RateSetter has released its accounts for 2015 – 2016.  According to their financial results, top line revenue increased 46% to £18.5 million from £12.6 million versus prior period. The increase in revenue was paired with a pre-tax loss of £4.9 million compared to a pre-tax… Read More

Prosper: Loan Portfolio on Track for Highest Returns Since 2013

Prosper Sign

Prosper Marketplace has published their monthly loan report and for investors in the marketplace lending things are looking pretty good. Prosper states that the 2016 portfolio is on track to have the highest estimated return since 2013. This is alongside the highest average FICO to date…. Read More

Report: PE & VC Activity Cooling in China Including P2P

China Map

China News is reporting that cooling private equity and venture capital deals are causing challenges for investors. Ni Zhengdong, head of Zero2IPO – a research group, stated; “Chinese venture capital and private equity investors made investments too quickly in the past three years and the… Read More

Executive Shakeup at SocietyOne as Founders Take on New Roles

Jason Yetton

SocietyOne, Australia’s largest marketplace lending platform, has rearranged the executive bench according to multiple reports. Founders Co-founders Matt Symons and Greg Symons (not related) have recently updated roles. Matt Symons will now become a non-executive director of the online lending firm. He is currently listed as… Read More

Busy Week at House Financial Services Committee

House Finance Services Committee Maxine Waters and Jeb Hensarling

The House Financial Services Committee, chaired by Congressman Jeb Hensarling, has booked a busy schedule next week. Included on the list of hearings is a visit from Secretary of the Treasury Jack Lew. Testifying on Thursday, September 22nd at 10AM, Lew will be addressing the… Read More

RateSetter’s New Milestone: Surpasses £100M in Auto Loans

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Earlier this week, RateSetter announced it has surpassed 100 million in car financing. and is considered the first peer-to-peer lending platform to lend the amount through motor partnerships. Sharing details about the new milestone, head of RateSetter Motor Finance, Nick Elkan, reportedly stated: “These are exciting… Read More

Online Lending at AltFi: A New Phase for a Growing Industry

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  When I realized the 2016 AltFi Conference was at the posh Pierre Hotel on the corner of Central Park, it immediately gave me pause. I remembered 2007 and 2008 when certain mortgage-backed security investment conferences were held at such addresses. Also, is the storied… Read More

Ron Suber on Marketplace Lending: Keep Calm & Lend On (Deck)

keep-calm-and-lend-on-ron-suber

Ron Suber, President of Prosper Marketplace, presented at the Fall AltFi conference in Manhattan yesterday and delivered a keynote address on the status of marketplace lending. Now most industry observers know that  the online lending industry was hit with a one-two punch this year. As the economy… Read More

TWINO Hits €300 Million Milestone for Loans Issued

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  TWINO Group, a European consumer lender, has announced that it has reached a new funding milestone of €300 million in issued loans. TWINO also operates a peer to peer lending platform that has funded approximately €50 million in loans.  Interestingly, TWINO points out that 8%… Read More

Lending Club will Pay New CFO Signing Bonus & $4.5M Stock Grant

thomas-casey

Lending Club (NYSE:LC), the leading marketplace lending platform in the US, just announced the hiring of its new CFO, Thomas Casey, following the departure of Carrie Dolan announced several weeks back. Today, Lending Club is revealing what they had to pay Casey to gain his… Read More

Crackdown: China P2P Lenders Raided by Police

China Punishiment Image

In multiple reports, Chinese authorities raided the offices of “two crippled peer to peer lending platforms”.  Both Jinlu Fund and Dangtian Wealth were visited by Shanghai police on suspicion of “illegally pooling deposits”, according to China News. Both platforms are affiliated with Shanghai Kuailu Investment… Read More

Lending Club Appoints Thomas Casey as CFO

thomas-casey

Lending Club (NYSE:LC), the leading marketplace lending platform in the US, has announced the appointment of Thomas Casey as their new Chief Financial Officer. The hiring comes after long-time executive Carrie Dolan announced her departure several weeks back.  Lending Club described Dolan’s departure as a long… Read More

Study Says US Credit Card Debt Jumped in Q2 as Average Household Indebtedness Moved Up

wallethub-credit-card-debt-report

WalletHub has published their Credit Card Debt Study that shows a dramatic increase in household indebtedness – specifically in credit card debt. According to the report, US consumers cranked up on credit during Q2 of 2016 generating $34.4 billion in debt. This is the largest Q2… Read More