Tagged: aaron vermut

January 4, 2017 @ 7:01 pm By JD Alois  |  

In the world of alternative finance, one US industry was probably happy to see 2016 end. Online lending, both marketplace lenders (née P2P lending) and balance sheet platforms, hit the proverbial brick wall during last year. Rumblings of a more challenging environment picked up in… Read More

November 14, 2016 @ 5:16 pm By Samantha Hurst  |  

On Monday, online lender Prosper Marketplace announced its board of directors has named former CFO David Kimball as the new CEO after Aaron Vermut stepped down from the position. Vermut notably served as the CEO of Prosper since March 2014, and the platform reported that he would… Read More

June 9, 2016 @ 3:25 pm By Erin Hobey  |  

Online lender Prosper Marketplace has put its relationships with the loan referral websites LendingTree and Credit Karma on hold, according to The Wall Street Journal, signifying the platform’s own lending slowdown as it tries to shore up new deals with investors to buy loans. Earlier this week, LendingClub raised… Read More

April 27, 2016 @ 1:18 pm By JD Alois  |  

    The first quarter of 2016 saw the US economy slip into a bit of a funk. Lingering questions regarding the sustainability of the economic recovery were buffeted by geopolitical tensions. The marketplace lending industry was in no way immune to the shifting winds… Read More

April 6, 2016 @ 11:44 pm By JD Alois  |  

As had been rumored for quite some time, marketplace lending leaders Lending Club (NYSE:LC), Prosper and Funding Circle, have announced the creation of an industry association to represent their interests and advocate on behalf of sector growth.  Formed as a not for profit membership organization,… Read More

March 14, 2016 @ 9:00 am By JD Alois  |  

Prosper Marketplace and HomeAdvisor have signed a multi-year agreement for Prosper to be the exclusive partner to provide home improvement finance via the HomeAdvisor website. HomeAdvisor, based in Golden, Colorado, is an operating business of IAC (NASDAQ: IAC) and is said to have connected more than 35… Read More

March 9, 2016 @ 10:18 pm By JD Alois  |  

Marketplace lending platform Prosper has moved quickly to leverage their recent acquisition of Israel-based BillGuard. Prosper has unveiled the “Prosper Daily” mobile App designed to give consumers a suite of tools to make better financial decisions, including viewing all their financial accounts in one place,… Read More

March 2, 2016 @ 2:57 pm By JD Alois  |  

Prosper Marketplace has appointed David Kimball as its Chief Financial Officer. Kimball was previously Senior Financial Officer of USAA’s Chief Operating Office in San Antonio, Texas. Before his tour at USAA, Kimball spent many years at the Ford Motor Company working in Finance. Most recently… Read More

February 7, 2016 @ 1:07 pm By JD Alois  |  

Leading marketplace lending platform Prosper acquired an Israeli startup towards the end of 2015 called BillGuard.  BillGuard’s service allows consumers to track their spending across many accounts, budget effectively, and protect their money from wrongful charges while monitoring a user’s credit score. It may also… Read More

January 7, 2016 @ 2:30 pm By Therese Torris  |  

Lendix, one of the 60 companies who joined the fray of crowdlending platforms in 2015 has quickly taken the leadership position by designing a marketplace that meets the needs of institutional investors. Marketplace lending to small and medium size enterprise (SMEs) is taking off in… Read More

December 16, 2015 @ 2:42 pm By JD Alois  |  

As most Fed followers expected, the FOMC decided to increase interest rates nudging up rates by 25 basis points. The last time the Fed raised rates was almost 10 years ago. The back and forth chatter regarding when the Fed would act has been a… Read More

October 21, 2015 @ 2:40 am By Therese Torris  |  

A random collection of people met and statements heard at the LendIt Europe conference, day 1, October 20th, 2015. Samir Desai, Cofounder and Director, Funding Circle: “We’re a marketplace, we don’t hold inventory, we don’t take any balance sheet risk, yet our interest is truly… Read More

September 24, 2015 @ 9:43 am By JD Alois  |  

Direct lending platform Prosper Marketplace is broadening the services of its platform by entering the personal financial sector. The San Francisco-based marketplace lending platform has signed a definitive agreement to acquire Israeli startup Billguard.  The acquisition is being called “transformative’ for the company that, to date,… Read More

August 18, 2015 @ 9:15 am By JD Alois  |  

Dick Bove, an equity research analyst and frequent commentator on CNBC, has published an Op-Ed on CNBC about the legislative disaster called Dodd-Frank.  Bove does not mince words when he states,  “I thought it would be impossible to find a worse piece of legislation in… Read More

July 13, 2015 @ 1:59 pm By JD Alois  |  

Direct lender Prosper is now open to investors in the state of Indiana. This makes 32 states and the District of Columbia where individuals may lend money directly on the platform.  Aaron Vermut, CEO of Prosper said;   “We are very pleased to bring the… Read More

July 10, 2015 @ 12:39 pm By JD Alois  |  

In 2014 Prosper, a leading direct lender, originated over $1.6 billion in loans – a 350% increase from year prior. This week the marketplace lending platform said it had topped $4 billion in total loans as it registered another “record quarter” as it delivered $912… Read More

May 27, 2015 @ 7:30 am By Anthony Zeoli  |  

For years now, big bank lenders have warned the public about the dangers of dealing with “shadow” (i.e. non-bank) lending institutions. The term itself conjures up images of shady back-room deals where you’re handed money in a paper bag and told to pay it back… Read More

April 13, 2015 @ 8:00 am By Bill Ullman  |  

  Sunlight is said to be the best of disinfectants…” Former US Supreme Court Judge Louis Brandeis The old guard is trying to define marketplace lending as part of a murky “shadow banking” industry.  Banking analyst Richard Bove concluded in a recent Rafferty Capital Markets… Read More

April 8, 2015 @ 8:12 pm By JD Alois  |  

Prosper Marketplace has closed a $165 million funding round led by Credit Suisse Group’s Next Investors.  The valuation was set at approximately $1.9 billion – a significant increase to previous valuations. Additional investors included JP Morgan Chase & Co’s Asset Management unit, SunTrust Banks, USAA,… Read More

February 26, 2015 @ 3:42 pm By JD Alois  |  

Prosper Marketplace, a leading peer to peer or marketplace lender, has signed an exclusive agreement with Western Independent Bankers (WIB) representing a new outlet for loans via their 1260 plus member banks. These community banks represent a significant extension of Prosper into the 13 western… Read More