Investment Platforms and Marketplaces

July 11, 2017 @ 10:18 am By JD Alois  |  

Yirendai (NYSE:YRD), a China based peer to peer lender that is a sister company of CreditEase, has shared that a lawsuit filed against it in 2016 has been completely dismissed. The putative class action lawsuit was brought by multiple law firms pertaining to the decline in… Read More

July 11, 2017 @ 9:39 am By Samantha Hurst  |  

On Tuesday, cleaning giant Clorox announced in an effort to help teachers get the classroom supplies they need for the upcoming school year, it is set to offer a $150,000 “double your impact” match offer through its partnership with DonorsChoose. This is the second year The… Read More

July 11, 2017 @ 7:48 am By JD Alois  |  

Folk2Folk has announced the launch of its Innovative Finance ISA (IFISA). The P2P lender’s “local” ISA can give investors the opportunity to support British businesses within their local area whilst earning tax-free interest on the loans. Jane Dumeresque, CEO Folk2Folk, said they were delighted to… Read More

July 11, 2017 @ 7:35 am By JD Alois  |  

iwoca, an online SME credit provider and a founding member of Innovate Finance, formed a partnership with Intesa Sanpaolo Group on SME lending. Intesa Sanpaolo is among the top banking groups in the euro zone and the leading business lender in Italy. The bank has a… Read More

July 10, 2017 @ 11:27 am By Samantha Hurst  |  

China Rapid Finance announced on Monday it has exceeded 20 million cumulative loans facilitated since its marketplace lending platform launch. According to the lender, this new milestone demonstrates accelerating the growth of its consumer marketplace due to the fact that the number of facilitated loans… Read More

July 10, 2017 @ 10:31 am By Samantha Hurst  |  

LendingTree (NASDAQ: Tree) announced on Monday it has appointed Brad Wilson as its new Chief Marketing Officer. According to the online lender, Wilson has experience in growth and profitability of consumer brands and held the position of General Manager at Travelocity. Speaking about Wilson’s appointment,… Read More

July 10, 2017 @ 9:42 am By Samantha Hurst  |  

On Monday, Australia-based online lender SocietyOne announced it not only celebrated its five year anniversary, it has also surpassed $300 million in total originations. The platform revealed it advanced over $100 million of new lending during the first half of 2017 and its loan book increased… Read More

July 10, 2017 @ 9:16 am By Therese Torris  |  

German online consumer lending marketplace auxmoney announced that it has crossed a new milestone: the marketplace has granted more than 70,000 loans worth more than €500 million in cumulated volume. Raffael Johnen, CEO of auxmoney, commented: “Half a billion euros worth of loans. This demonstrates… Read More

July 10, 2017 @ 8:16 am By JD Alois  |  

Seedrs has announced that it will be the sole equity finance provider in a new partnership with Fidor Bank, a challenger bank that launched in the UK back in 2015. Nutmeg, an online wealth manager, will also be joining Seedrs on Fidor’s new marketplace. The two platforms… Read More

July 9, 2017 @ 2:35 pm By Cole Lyons  |  

The Chinese Fintech Company, Dashu, has recently announced the completion of a 800 M Yuan ($115 M USD) series C round with some big names backing the company. Dachu’s list of investors includes PAG, Chunhua Capital, Sequoia Capital China Fund, Everbright Holdings, and Huaxing Capital… Read More

July 9, 2017 @ 12:37 pm By Jonathan Nieh  |  

Regulation Crowdfunding (Reg CF), which allows for true equity crowdfunding by small businesses and start-ups, has been in effect for over a year now. The amount of capital raised since Reg CF was launched last year has been steadily increasing as well as the number… Read More

July 8, 2017 @ 9:12 am By Xu Gao  |  

Ant Financial Brings Artificial Intelligence to Auto Insurance On June 27th, The Alibaba Group financial affiliate rolled out an artificial intelligence-driven, image-recognition system to aid vehicle insurance claims adjusters in operating faster and more efficiently. In its demonstration in Beijing, Ant pitted man against machine,… Read More

July 7, 2017 @ 4:47 pm By JD Alois  |  

Below is the copy of the letter Paul Mathieson, the CEO of IEG, sent to Scott Sanborn, CEO of LendingClub, and the LendingClub Board of Directors. In the letter, Mathieson declares his intent to commence a tender offer for up to 9.99% of LendingClub (NYSE:LC)… Read More

July 7, 2017 @ 4:22 pm By JD Alois  |  

LendingClub (NYSE: LC) has announced that on June 29, 2017, its Board of Directors received a letter from IEG Holdings Corporation (IEG) stating its intention to acquire up to 9.99% of the outstanding common stock of LendingClub on the basis of two shares of IEG common stock… Read More

July 7, 2017 @ 3:30 pm By JD Alois  |  

Earlier this week while reviewing the status of NextSeed’s crowdfunding offers I noticed the company is expanding its physical presence beyond Texas. After confirming with the platform, NextSeed now has an office in both San Francisco and Los Angeles. Their HQ is based in Houston… Read More

July 7, 2017 @ 3:05 pm By JD Alois  |  

SoFi has announced the closure of Zenbanx, a digital only bank just acquired at the beginning of 2017 for an undisclosed sum. In a notice posted on the Zenbanx website, the company explained it had decided to close all US bank accounts effective August 31st:… Read More

July 7, 2017 @ 1:27 pm By Samantha Hurst  |  

Online lending platform SoFi announced this week it has teamed up with Alaska Air to help its new members save money on student loans while also earning extra summer travel points. The online lender revealed the exciting news through its Twitter on Thursday: We’ve partnered… Read More

July 7, 2017 @ 11:23 am By JD Alois  |  

Marlette Funding, LLC, an online consumer lending platform and service provider, has closed its third securitization from its proprietary “MFT” shelf. Marlette states that approximately $369 million of BestEgg unsecured personal loan collateral was financed via three classes of Notes and one class of Certificates with… Read More

July 7, 2017 @ 10:59 am By Samantha Hurst  |  

On Friday, UK-based peer-to-peer lending platform Landbay celebrated its third birthday. The online lender revealed that in the past three years, it has lent a total of £47.31 million, which is funding buy-to-let mortgages throughout the UK. CEO and co-founder, John Goodall shared details about the… Read More

July 7, 2017 @ 8:16 am By JD Alois  |  

While some Fintech firms have started with online lending only to push into other verticals, BNI Europa – a digital only challenger bank – went the banking route first and is now providing consumer credit. Announced today, “Puzzle“, as it has been named, is the… Read More