September 15, 2017 @ 6:28 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has issued its first no action letter to online letter Upstart. At the time of the request by Upstart, the online lender had facilitated over 80,000 loans totaling over $1 billion ranging from $1,000 to $50,000 with a term of… Read More

September 15, 2017 @ 11:57 am By JD Alois  |  

Sharestates, an online real estate crowdfunding marketplace, has announced that Nicole Joseph has joined the executive team as the new Chief Operating Officer. Joseph will partner with the company’s CEO, Allen Shayanfekr, to run operations and compliance while broadening infrastructure to support the firm’s continuous… Read More

September 15, 2017 @ 11:35 am By JD Alois  |  

Following the successful Initial Coin Offering (ICO) of Credo Tokens, BItbounce is announcing that Tim Draper, a prominent VC active in the crypto space, has joined their Board of Advisors. Draper was an early backer of Bitbounce, investing in the Credo ICO this past summer…. Read More

September 15, 2017 @ 11:27 am By JD Alois  |  

The Australian Securities and Investments Commission (ASIC) is out with a report responding to feedback on their Innovation Hub and Regtech in general. ASIC sought feedback on their overall approach and establishing a new Regtech liaison group. ASIC received 19 responses from Fintech businesses and technology companies,… Read More

September 15, 2017 @ 10:04 am By JD Alois  |  

Peer to peer lender Assetz Capital is reporting it has seen a year-on-year increase of 175% in the number of property development projects funded around the UK. The online lender says this rise comes following sustained growth in the funding pool for property developments, as investors… Read More

September 15, 2017 @ 9:22 am By JD Alois  |  

The US Senate has passed several key pieces of legislation that boost access to capital and help startups and small businesses. All three bills received broad bipartisan support. While the bills were quickly passed via a voice vote in the Senate, the bills received heavy… Read More

September 15, 2017 @ 8:38 am By JD Alois  |  

SoFi CEO Mike Cagney has resigned as CEO, effective immediately. Recently, Cagney had announced he had resigned as Board Chair and would vacate the position of CEO at the end of the year. Allegations in an NYT.com article hammered both SoFi operations and Cagney’s behavior… Read More

September 15, 2017 @ 2:09 am By JD Alois  |  

Following the peer to peer lenders most successful month in August, the EstateGuru’s loan volume has now exceeded €30 million. EstateGuru is an Estonia-based online marketplace for secured property loans. According to information provided by EstateGuru, in August the platform’s originations was nearly €4 million…. Read More

September 14, 2017 @ 11:36 pm By JD Alois  |  

SoFi has published a public letter addressing the allegations leveled by NYT.com earlier this week. While avoiding the accusations of an environment of rampant sexual harassment, the letter tackles the operational questions the report said existed at the online lender. The NYT report was not… Read More

September 14, 2017 @ 5:29 pm By JD Alois  |  

This week the Australian Parliament introduced new legislation that will extend crowdfunding or “crowdsourced equity funding” (as the Aussies call it) to private companies. This is an important fix that will create a far more robust and equitable crowdfunding ecosystem in Australia. Earlier this year,… Read More

September 14, 2017 @ 4:12 pm By JD Alois  |  

LEND360, an online lending industry annual event, has formed a “Small Business Lending Advisory Committee” made of of industry participants. LEND360 organizers state that they have always had a strong focus on business lending, and the forming of this committee is a natural progression of… Read More

September 14, 2017 @ 2:06 pm By JD Alois  |  

Target Global, a venture capital firm based in Berlin, has closed on a new €100 million fund focused on early stage investments in marketplace, mobility, Insurtech, Regtech and Fintech. Target Global Early Stage Fund I will invest in Seed and A rounds, and is expected… Read More

September 14, 2017 @ 9:43 am By JD Alois  |  

Yesterday the final meeting of the Securities and Exchange Commission’s Advisory Committee on Small and Emerging Companies (ACSEC) took place in Washington, DC. ACSEC, launched in 2011, will now transition over to the Small Business Capital Formation Advisory Committee – an entity with a similar… Read More

September 14, 2017 @ 9:12 am By JD Alois  |  

PayJoy has closed a $6 million funding round with strategic partners who should help PayJoy phone financing further expand internationally throughout Latin America, Asia, and Africa.  The investment was led by Santander InnoVentures, the Fintech venture capital fund of Santander Group, and ITOCHU Corporation, one… Read More

September 14, 2017 @ 8:30 am By JD Alois  |  

Eureeca, a Dubai based multi-regulated global Equity Crowdfunding platform, has shared that it has successfully reached its funding target during its second self-crowdfunding round having raised over $400,000 in just 6 hours. The self-funding campaign represents a portion of an ongoing Series A round, which… Read More

September 14, 2017 @ 8:10 am By JD Alois  |  

Chris Skinner, creator of the Finanser blog, has joined The Token Fund’s advisory board. The Token Fund said the addition of Skinner would enhance the fund’s strategy as it launches a new platform for crypto funds and investors. Skinner’s blog regularly comments on the future… Read More

September 14, 2017 @ 7:55 am By JD Alois  |  

Investoo Group, a lead generation company in the Forex and retail investment industry based in London, has acquired the social trading comparison site SocialTradingGuru.com for an undisclosed fee. Launched in 2012, SocialTradingGuru.com is described as one of the biggest social trading comparison sites and works a number of… Read More

September 14, 2017 @ 7:47 am By JD Alois  |  

Securities Commission Malaysia (SC) has released a statement on the recently signed cooperation agreements with major financial centers. These “Fintech bridges” are described as a move to spur greater cooperation in facilitating and regulating innovations emerging within the digital finance industry. Recently, SC has established… Read More

September 13, 2017 @ 8:43 pm By JD Alois  |  

Additional details have been reported surrounding the planned departure of one of the most prominent Fintech CEOs in the world. NYT.com has published a report on the “Frat House” like environment that existed at SoFi with CEO Mike Cagney reportedly being a prime offender. The… Read More

September 13, 2017 @ 3:17 pm By JD Alois  |  

DSTLD, a company that wants to disrupt the $200 billion fast fashion market with fairly priced, direct-to-consumer premium clothing (like jeans), has returned to SeedInvest to crowdfund their Series A-2 round. Previously, DSTLD raised $1.7 million under Reg A+ crowdfunding rules. The company has returned… Read More