Upgrade, an online lender in the consumer credit sector, has closed its second securitization of personal loans. Upgrade Receivables Trust 2019-1 (UPGR 2019-1) issued $225 million in notes backed by personal loan assets facilitated through the Upgrade platform. The Upgrade Receivables Trust securitization was rated… Read More
CAN Capital, an online lender in the SME lending space, is back in business following a recapitalization by Varadero Capital, an alternative asset manager in New York City and currently manages about $1.3 billion. DLA Piper served as legal counsel for the financing and Jefferies acted… Read More
Renaud Laplanche, the founding CEO of Lending Club, has announced the launch of a new consumer credit platform aptly entitled Upgrade. The online lender was described as a new iteration of online lending that combines the best of marketplace lending and consumer services such as… Read More
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
Bond Street, an online small business lender, has announced that investment bank Jefferies Group has tripled its loan purchase commitment to $300 million. Back in 2015, Jefferies committed to $100 million in loan purchases. The increase by Jefferies represents a solid endorsement of the Bond Street platform and a… Read More
Alec Ellison, a long-time Wall Street veteran, and former Vice Chairman of Jefferies and Chairman of the Tech Investment Banking Group, has joined OurCrowd’s Advisory Board. OurCrowd is one of the leading investment crowdfunding platforms in the world OurCrowd CEO, Jon Medved, said they were honored… Read More
CircleBack Lending has stopped making loans. This is according to a report by Bloomberg. The online lender said that funding had vaporized as some borrowers failed to repay their loans. CircleBack provides unsecured consumer credit for loans from $3000 to $35,000. Michael Solomon, CEO and co-founder… Read More
Prosper, a leading marketplace lending platform, is in the midst of negotiating a huge $5 billion deal to purchase Prosper loans. This is according to a post in WSJ.com. Buyers include some pretty prominent names like Soros Fund Management, Fortress Investment Group and Third Point…. Read More
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
Soros Fund Management and Jefferies Group LLC are investing $5 million in a startup founded by former mortgage-bond trader Perry Rahbar that analyzes consumer debt for professional investors, reported BloombergBusiness‘ Matt Scully and Dakin Campbell. Rahbar, a former mortgage-backed securities trader at JPMorgan Chase &… Read More
loanDepot, America’s lender, today announced the closing of a $150 million securitization of its popular unsecured personal loans accessed by consumers. This $150 million securitization was structured and sold by Jefferies, a global investment banking firm. In the first six months since launching its first… Read More
Marketplace lending platform, Avant, announced on Thursday that two newly secured transactions totaling $339 million in debt financing. These recently minted deals bring Avant’s funding total to $1.1 billion in debt financing, $334 million in equity financing and $400 million raised through the Avant Institutional… Read More
CircleBack Lending has completed its first securitization of consumer loans. The company reported $106 million was completed by Jefferies, an investment banking firm. CircleBack revealed an agreement with Jefferies in 2014 to securitize up to $500 million in loans in the coming years. CircleBack stated… Read More
Boca Raton-based CircleBack Lending has entered into a partnership with Jefferies according to a release by the company. The agreement is to facilitate the sale and securitization of up to $500 million aggregate principle amount of consumer loans. CircleBack was founded in 2013 and states… Read More
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