Tagged: goldman sachs

April 18, 2017 @ 10:52 am By JD Alois  |  

During a “period of recalibration” for Goldman Sachs (NYSE: GS), the diversified financial firm announced Q1 2017 financial results today. Goldman reported net revenues of $8.03 billion and net earnings of $2.26 billion for the first quarter ended March 31st. Diluted earnings per common share… Read More

February 27, 2017 @ 2:41 pm By JD Alois  |  

Prosper Marketplace, one of the leading online lenders in the US, has signed an agreement with a group of institutional investors to purchase up to $5 billion in loans over the next 24 months. The agreement alleviates a challenging situation that has been endured by… Read More

February 13, 2017 @ 10:18 pm By JD Alois  |  

In the online lending world, there are a handful of people that know everything that is going on. From the good to the not so good, their vantage point is unique. Ram Ahluwalia, CEO and co-founder of PeerIQ, is one of these individuals. Ahluwalia launched PeerIQ in… Read More

February 11, 2017 @ 9:33 am By JD Alois  |  

Better Mortgage has received $15 million in funding during a Series B round. Kleiner Perkins, the VC firm that helped to fund companies like Google and Amazon, participated in the funding round alongside Goldman Sachs Principal Strategic Investments Group and Pine Brook. Better previously raised… Read More

January 19, 2017 @ 1:13 am By Jessica Pham  |  

Reports came out during the holiday season last year of banks quietly stocking up on blockchain patents.  Banks will compete with startups making the same moves.  They will also compete for patents with trolls who suppress innovation. The future of blockchain innovation depends on who… Read More

January 9, 2017 @ 11:24 am By JD Alois  |  

Marcus, Goldman Sach’s (NYSE:GS) foray into the universe of online lending, launched late last year. The catch was you had to be “invited” to take out a loan. Management was clearly testing things before the training wheels came off. Today, Marcus is emailing folks to let… Read More

January 2, 2017 @ 4:49 pm By JD Alois  |  

Last year due to time constraints I was unable to publish my list of Crowdfunding/Fintech predictions for 2016. This year I am back once again, for better or worse, peering deep into my crystal ball with a list of prognostications for the coming year. The… Read More

November 22, 2016 @ 9:04 am By Erin Hobey  |  

Goldman Sachs is no longer part of the R3 CEV blockchain group, according to the WSJ. Founded in 2014 by CEO David Rutter to explore the use of the distributed database technology, especially for tech utilizing bitcoin, R3 CEV explores way banks can save billions of dollars through streamlining outdated… Read More

November 17, 2016 @ 11:34 am By Samantha Hurst  |  

Goldman Sachs (NYSE:GS) has launched its first advertising campaign that is aiming towards those in need of getting out of their credit card debt and looking for a fixed-rate, lower-cost personal loan. According to CNBC, The new 15 and 30-second campaign ad will appear on various video… Read More

November 16, 2016 @ 2:15 pm By Jessica Pham  |  

New York-based Fintech firm Droit Financial Technologies secured a $16 million in Series A investments earlier this month from Goldman Sachs, Pivot Investment Partners, and Wells Fargo. Principal trading firm DRW also participated. Droit is a New York-based Fintech firm focused on providing enterprise solutions for OTC… Read More

November 4, 2016 @ 9:30 am By Jessica Pham  |  

The Government of Singapore is inviting startups, tech companies, investors, and banks to its inaugural Singapore FinTech Festival between November 14-18. Events will include a Hackcelerator Demo Day, the FinTech Awards, and a speakers expo. Finalists competing in the FinTech Awards had been busy implementing… Read More

October 17, 2016 @ 12:35 pm By JD Alois  |  

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

October 13, 2016 @ 9:56 am By JD Alois  |  

Goldman Sachs’  long-anticipated online lending platform labeled Marcus has launched for users who received a special code by mail.  The Fintech platform is poised to challenge established marketplace lending platforms such as Prosper and Lending Club by offering consumers a chance to refinance onerous credit… Read More

August 25, 2016 @ 12:21 pm By Erin Hobey  |  

Fundation has secured $100 million credit from Goldman Sachs, reported the WSJ. The cash flow will enable the “credit solutions provider” to expand recent partnerships with traditional banks, such as Regions Financial Corp. and a network of community banks, and to extend loans to the banks’ business customers.  Paying a… Read More

August 19, 2016 @ 9:24 am By Erin Hobey  |  

“Marcus, I’d like a small consumer loan.” No, users will not be going to a teller to ask for a loan from Goldman Sachs‘ much anticipated online lending platform. Rather the name is meant to establish a sense of familiarity, like being on a first name basis… Read More

July 20, 2016 @ 9:30 pm By JD Alois  |  

Goldman Sachs (NYSE:GS) announced earnings yesterday and beyond beating market expectations, the investment bank revealed some of its intentions on the forthcoming launch of its online lending platform later this fall. The news that Goldman Sachs was moving into the online lending sector came over… Read More

April 26, 2016 @ 1:27 pm By Erin Hobey  |  

The US’ largest marketplace lender LendingClub Corp. is planning its first sale of bonds backed by its unsecured loans, reported the WSJ, seeking new funding sources in today’s challenging market. Working with Goldman Sachs Group Inc. and Jefferies Group on the offerings, LendingClub’s plans to discuss updates with potential investors as early as this week, reported the WSJ; Goldman… Read More

April 25, 2016 @ 11:26 am By Samantha Hurst  |  

On Monday, marketplace lender CommonBond announced that it has completed its $150 million of student loans assets, which was co-led by Barclays and Goldman Sachs. Morgan Edwards, CFO of CommonBond, stated: “The strong reception in the capital markets to our second securitization is a further testament to the… Read More

April 25, 2016 @ 8:01 am By JD Alois  |  

Last year Goldman Sachs revealed its intent to push into the marketplace / peer to peer lending sector. While a growing number of traditional financial firms are partnering with more agile, fintech startups – Goldman decided to strike out on their own. This past week,… Read More

March 10, 2016 @ 4:30 am By Erin Hobey  |  

2015 was the year that financial technology entered the mainstream, claims the new report “Pulse of Fintech” from KPMG and CB Insights (see also the University of Cambridge Centre for Alternative Finance  seminal benchmarking surveys last year), which estimates that VC-backed fintech firms around the world secured $13.8 billion in… Read More