Tagged: marketplace

Did Lending Just Change for Good?

Bank lending regulations have rarely been thought of as dynamic or exciting but last night’s ruling by the Consumer Financial Protection Bureau (CFPB) to allow a lender to begin using alternative data in their underwriting could herald the beginning of a new era in lending… Read More

Milestone: SmartBiz Loans Top $500 Million in SBA Loans Funded

SmartBiz Loans, an SBA loan marketplace and bank-enabling technology platform, announced on Thursday it has topped $500 million in loans funded. The platform reported that this milestone comes on the back of its other recent successes, which includes the addition of a fifth bank to… Read More

China: WeiyangX Fintech Review

Online Marketplace Lenders Banned from Lending to College Students in China On September 6th, Zhao Jianjun, deputy director of the Department of Finance at Ministry of Education, announced at a press conference that online marketplace lenders are banned from lending to college students in China…. Read More

Mintos Marketplace Adds ID Finance Loans Issued in Georgia

ID Finance, an emerging markets focused Fintech company, is now listing investment opportunities on the Mintos marketplace incorporating prime personal loans issued under its Solva brand in Georgia. Solva is a fully owned ID Finance subsidiary in Georgia that has disbursed 28,000 personal loans worth… Read More

LendingClub Schedules Investor Day in NYC, Live Audio will be Available

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has scheduled an investor day in New York City. The event, which is by invitation only, will take place on Thursday, December 7, 2017. CEO Scott Sanborn and other executives from the LendingClub management team will provide… Read More

LendingClub Hit with Lawsuit

LendingClub (NYSE:LC) has been hit with a lawsuit that names former CEO Renaud Laplanche alongside current and former board members and former CFO Carrie Dolan. The complaint, filed in the Court of Chancery in Delaware, states; “Throughout the period December 11, 2014 and continuing through… Read More

RiverNorth: Executing on Providing Income for Investors in Marketplace Lending Loans

RiverNorth is out with an encouraging note on its fund that invests in marketplace lending platform loans. As of the end of July 2017, RiverNorth’s portfolio consisted of 10,173 loans, with an average loan size of $10,176. The RiverNorth Marketplace Lending (NASDAQ:RMPLX) is designed to provide… Read More

Largest Lender: Funding Societies is First P2P Lender to Join International Association of Credit Portfolio Managers

Singapore based Funding Societies has become the first peer-to-peer lending platform to become a member of the International Association of Credit Portfolio Managers (IACPM), a prestigious forum for credit risk management. Funding Societies also reported that risk expert Terry Tse has joined the online lender’s… Read More

Prosper Progress: Online Lender Reports Strong Q2 Growth, Closes $500 Million Securitization

Prosper Marketplace, a leading marketplace lending platform, has reported improved numbers for the second quarter.  Prosper has shared that it generated positive operating cash flow for the quarter and originations rocketed up 74% year over year. Prosper said they experienced strong demand for its personal… Read More

LendingClub CIO: Delinquencies Decline as Marketplace Lending Model Continues to Improve

LendingClub‘s (NYSE:LC) CIO has posted an update on the online lenders performance including some perspective into the LendingClub model. The executive explains that part of the power of the marketplace lending model is the iterative nature of the loan making process. Over time, data generated… Read More

LendingClub Reports Q2 Revenue Growth, Raises 2017 Outlook

LendingClub (NYSE:LC) is out with Q2 numbers and the marketplace lending platform is showing a top line increase for the quarter and for the first half of the year. Loan originations in Q2 increased versus same quarter year prior as well. During Q2 top line… Read More

Down Round: Prosper Said to Raise Money at Dramatic Valuation Drop

Prosper Marketplace, one of the largest marketplace lending platforms in the US, is reportedly raising capital again at a significant decline to previous valuations. According to a report in the Information, Prosper is raising equity capital at a valuation of $550 million. This represents a… Read More

IEG Holdings Bails on “Misleading” Tender Offer for LendingClub

This should come as no surprise. IEG Holdings (OTCQB: IEGH) has decided not to proceed with a previously announced Tender Offer for shares of marketplace lender LendingClub (NYSE:LC). Ostensible, the offer was to exchange four shares of IEG Holdings for each share of common stock in Lending… Read More

Q&A: UK Marketplace Lender Growth Street CEO Greg Carter Talks Transparency, Brexit and Fintech Innovation

“As the industry matures and looks to grow beyond a base of early adopters, I believe a focus on clarity will best help us to attract new investors.” Growth Street, an FCA-authorized UK business finance platform focusing on SME loans, has aimed to become a… Read More

LendingClub Schedules Q2 Earnings Release for August 7th

LendingClub (NYSE:LC), an online marketplace connecting borrowers and lenders, has announced that it will report second quarter earnings, which ended on June 30, after the bell on Monday, August 7, 2017. LendingClub will host a conference call to discuss the Q2 results at at 2:00PM… Read More

German Consumer Lender Auxmoney Passes the Half-Billion-Euro Mark

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

Here is the Letter IEG Holdings Sent to LendingClub Board Announcing its “Tender Offer”

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

LendingClub Tells Investors to Ignore IEG Holdings Offer to Purchase LC Shares, Calls Offer Misleading

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

New Marketplace Vivriti Capital Aims to Address Indian End-to-End Financial Service Requirements

Vivriti Capital has launched in India, aiming to provide a financial services marketplace that will provide a comprehensive range of offerings across the lifecycle of customers that lack access to efficient finance. Vivriti Capital offers loans, receivables finance, working capital, structured debt and capital market instruments, seeking to transform the fragmented… Read More

LendingClub Adds Ken Denman, Venture Partner at Sway Ventures, to Board of Directors

LendingClub (NYSE: LC), the leading marketplace lending platform in the US, has added Kenneth Denman to its Board of Directors. LendingClub states the appointment took effect on June 28, 2017. Denman joins as a Class One director and will serve on the Audit and Compensation… Read More