Tagged: marketplace

Australian Securities & Investment Commission Publishes Report on Marketplace Lending, Shows Double the Loans

The Australian government and regulatory officials are keenly engaged in fostering the growth of Fintech. Marketplace lending, one of the largest sectors of Fintech, has provided a much needed new source of credit in many countries around the world. Earlier today, the Australian Securities and… Read More

LendingClub will Hold Live Investor Meeting on Thursday

LendingClub (NYSE:LC) has gone from Wall Street darling to Wall Street dog. Since the IPO at the tail end of 2014, shares in the largest marketplace lending platform in the US have struggled to regain its offer price of $15 a share. If you are… Read More

Mortgage Marketplace Lender LendingHome Surpasses $2 Billion in Loan Originations

On Monday, mortgage marketplace lender LendingHome announced it has originated more than $2 billion in mortgage loans for homeowners and real estate investors. The online lender revealed that the first billion of originations occurred over the course of 30 months, while it took just 12 months for the… Read More

LendingClub Closes on Pass-Through Security Transaction Providing New Liquidity Over the Counter

LendingClub (NYSE: LC), the leading marketplace lending platform in the US, has closed a “first-of-its-kind” transaction: a whole loan transaction structured as a tradable, pass-through security labeled as a Consumer Loan Underlying Bond or “CLUB Certificate”. This first transaction totaled $25 million with an institutional investor seeking… Read More

Real Estate investment Platform Sharestates Launches One Click Closing Option

Sharestates, an online real estate investment marketplace, announced on Thursday the launch of its new One Click Closing tool, which is described as a feature that will allow return borrowers to visit a page where they can upload all the details and documents required for… Read More

LendingClub Q3 Results: Highest Revenue in the Company’s History of $154.0 million

LendingClub (NYSE:LC), the largest marketplace lending platform in the United States, has published Q3 2017 financial results. The company delivered the best revenue in LendingClub’s history generating $154 million in top line revenue, an increase of 34% versus year prior and 10% over Q2 2017…. Read More

Crowd Genie Launches Genie Shield Provision Fund to Protect Investors

Singapore-based crowdfunding platform Crowd Genie has announced the launch of a provision fund entitled GenieShield. This new fund is geared towards providing investors better protection against delays and potential defaults in loan repayments. Crowd Genie reports the fund will be managed by a Singapore-registered Trust… Read More

P2P Lender Assetz Capital Reports Profit for 6 Month Period

Assetz Capital, a peer to peer lending platform that received full FCA authorization in September, has reported a profit bore the first 6 months of the fiscal year. Without providing specific details, Assetz Capital said they record a “seven figure pre-tax profit, in the period… Read More

LendingClub Adds Warehouse Credit Agreement to Finance Loans

LendingClub (NYSE:LC) has filed an 8K with the Securities and Exchange Commission indicating it has entered into a Warehouse Credit Agreement on October 10th with “certain lenders.” In connection with the Warehouse Agreement, “LendingClub Warehouse” also entered into a Security Agreement with the Administrative Agent… Read More

P2B Investor Program Allows Community Banks to Lend More with Marketplace Lending Partnership

P2B Investor has launched an interesting partnership program that is good for banks, good for borrowers and good for P2Bi. Banks, typically smaller banks, would like to lend more to SMEs but are risk averse due to multiple reasons. P2B Investor’s new program allows the… Read More

LendingClub Q3 Earnings Report Scheduled for November 7th

  LendingClub (NYSE:LC), the largest marketplace lending platform in the US, has scheduled its quarterly earnings report for November 7th, at 5PM ET (2PM PT). A live webcast of LendingClub’s call will be available at the Investor Relations portion of the LendingClub websit under the… Read More

bitJob Secures $2 Million to Launch Decentralized Platform for Student Employment

bitJob announced on Wednesday it has secured $2 million to launch its global, decentralized marketplace for student employment powered by blockchain technology. According to the company, the new marketplace is offering students the opportunity to earn income and sharpen their skills while enriching their resumes,… Read More

Marketplace Lender LoanBook Partners with Sage in Spain

LoanBook, a large SME marketplace lender based in Spain, has formed a new partnership with Sage, a market-leader in cloud accounting, payroll and payments software, to offer Sage’s Spanish customers a direct, in-product channel to alternative finance options. According to LoanBook, Sage will offer its… Read More

PeerIQ Securitization Update: Market Conditions are Strong

PeerIQ, a deep data platform that bridges lenders and the capital markets, periodically publishes a report that provides a unique view into the alternative lending sector. The company is out with their Q3 report that delivers a point in history perspective on online lending. Ram Ahluwalia,… Read More

Peer to Peer Lender Beehive Raises $5 Million Series A

  Beehive, based in Dubai and MENA’s leading peer to peer lending platform, has raised $5 million in funding as part of a Series A round led by Riyad TAQNIA Fund along with participation by the Mohammed Bin Rashid Fund (MBRF), the financial arm of… Read More

LendingClub Completes 2nd Self Sponsored Loan Securitization with $323 Million Deal

LendingClub (NYSE: LC) has sponsored and contributed to its second securitization deal following the the last successful self sponsored deal this past June. The “Consumer Loan Underlying Bond” (CLUB) Credit Trust 2017-P1 (CLUB 2017-P1) issued $323.1 million in prime notes backed by consumer loan assets originated via… Read More

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