Tagged: marketplace

October and 5 Confidi Launch Direct Lending Fund for Italian SMEs

Leading European marketplace lending platform October has joined with 5 Confidi entities belonging to Federconfidi and Rete Fidi Italia and with the European Investment Fund (EIF), to launch a €30 million fund to back Italian SMEs. Confidi are cooperative, non-profit guarantee consortia that facilitate access… Read More

LendingClub Fills Board of Directors Slot with former Alibaba Executive Michael Zeisser

LendingClub (NYSE: LC), has filled a vacant board of directors position with Michael Zeisser – a former executive with Alibaba. According to a release, Zeisser will serve on the Nominating and Corporate Governance Committee and the Compensation Committee. Zeisser has an interesting resume. Until April… Read More

College Ave Student Loans Completes $300 Million Securitization of Private Student Loans

Student loan marketplace, College Ave Student Loans, announced on Tuesday it has completed a $300 million securitization of private student loans, its third securitization and largest to date. According to College Ave, the transaction was oversubscribed attracting a broad and diverse group of repeat investors and… Read More

Funding Circle Has Now Lent $10 Billion Since Platform Launch

Marketplace lending company Funding Circle (LSE:FCH) is out with a release announcing the platform has now lent over $10 billion since launch in 2010. Funding Circle operates in the UK, Germany, the Netherlands and the US. The London based company is the first peer to… Read More

Funding Circle Shares Rise on Positive Report

Funding Circle lobby

Last week, online lender Funding Circle (LSE:FCH) released its 6-month report and the shares have responded positively to the numbers. Six-month Revenue was reported at £81.4 million versus H1 2018 at £63.0 million – up 29%. Loans under management rose 37% to £3.54 billion and… Read More

LendingClub Q2 Results, Revenue Rises, Loss Declines. Launches New “Select Plus Platform” for Sophisticated Credit Investors. Will Pursue National Bank Charter

LendingClub (NYSE: LC), an online lending platform for both borrowers and investors, has posted second-quarter results. While still generating a loss, LendingClub said it was on track to be net income profitable (Adjusted) by Q3. LendingClub took years to originate its first $1 billion. Today,… Read More

LendingClub Issues More Than $2 Billion in CLUB Certificates

Online marketplace lending platform LendingClub (NYSE: LC) announced on Monday it has issued over $2 Billion in CLUB Certificates since the program’s launch less than a year and a half ago. LendingClub reported that it took a year for the lender to issue its first… Read More

LendingClub’s Reverse Split Kicks in on July 8th

As anticipated, LendingClub (NYSE: LC) has scheduled the date on which its shares will trade reflecting a reverse split. LendingClub announced earlier this year its intent to complete a 1 for 5 reverse stock split. The decision was made to lower shareholder management. The reverse… Read More

LendingClub Rings the Opening Bell at NYSE as It Marks 3 Million Borrowers

The largest provider of personal online loans in the US, LendingClub (NYSE: LC), got to ring the bell at the New York Stock Exchange today. The event was to celebrate the marketplace lending platform’s 3 millionth borrower. To date, LendingClub has originated over $50 billion… Read More

LendingClub Makes it Easier for Consumers to Consolidate Debt & Pay Down Credit Cards

LendingClub (NYSE:LC), an online lender mostly catering to the consumer market, has announced an enhanced service to help individuals pay down debt – largely from high-interest rate credit cards. According to LendingClub, after extensive testing, the online lender has announced the broader launch of “balance… Read More

Space & Storage Marketplace Startup Stashbee Returns to Seedrs and Quickly Secures £1.6 Million Funding Target

Stashbee, UK-based marketplace for space and storage, has returned to equity crowdfunding platform Seedrs to raise £1.6 million, which has already been secured from more than 250 investors. This new funding round comes just one year after Stashbee secured £908,971 through its first crowdfunding campaign…. Read More

Korean Marketplace Lender PeopleFund Raises $35 Million

PeopleFund, a South Korea based online lender, has raised $35 million as part of an extension of a Series B funding round which was announced in October 2018.  PeopleFund is a marketplace lending platform which means it accepts investments from both individuals and institutions. PeopleFund… Read More

LendingClub Re-Elects Board Members, Approves Reverse Stock Split

LendingClub (NYSE:LC) held its annual meeting this week. On the list of matters requiring shareholder approval were several important items. First, two Directors were re-elected. The election of Susan Athey and John C. (Hans) Morris was approved. Both will serve until 2022 unless events change…. Read More

LendInvest Announces Fifth Consecutive Year of Profitability as Growth Continues: More than £2 Billion in Cumulative Originations

LendInvest, an online marketplace for mortgages, announced on Tuesday it has reported a period of strong growth and significant operational and strategic progress for the year, ending on March 31st. The online lender revealed the following: Financial highlights: Platform revenue increased 36% to £72.7m (FY18:… Read More

Online Lender creditshelf Reports Growth During First Quarter

Online lender creditshelf (CSQ.F) has reported financial results for the first quarter of fiscal year 2019. According to the Germany-based Fintech, revenues tripled in the first quarter versus the same period year prior. creditshelf is a marketplace lender that matches investors to SMEs in need… Read More

LendingClub Posts Presentation in Advance of Shareholder Meeting

LendingClub (NYSE:LC) has posted a presentation apparently in preparation for its annual shareholder meeting which is scheduled to take place on June 5, 2019. The deck, embedded below, is largely a rehash of LendingClub’s Q1 report which took place the first week of May. There… Read More

US Peer to Peer Lender SoLo Now Offering Loans Across US

SoLo Funds, a peer-to-peer lending platform that provides access to small loans, reports that it is now available across the contiguous US. Travis Holoway, CEO and Co-founder of SoLo Funds, says there is no longer a need to go to a payday lender. “SoLo is… Read More

Fitch Report: Declining Credit Enhancement in US MPL ABS is Unwarranted

Fitch is out with a report on marketplace lending (MPL) asset-backed securities (ABS) stating declining credit enhancement is unwarranted. Fitch states that credit enhancement (CE) levels of ‘Asf’ category rated US MPL ABS have meaningfully declined since 2017, while asset quality remained relatively steady. As… Read More

Following IPO, German Fintech creditshelf Holds First Annual Meeting

creditshelf Aktiengesellschaft (CSQ.F), a Fintech marketplace for small and medium-sized enterprises (SMEs) in Germany, has held its first annual general meeting in Frankfurt am Main following its IPO in July 2018. The company reports solid shareholder participation as 52.16 % of share capital was represented… Read More

LendingClub Reports Net Revenue of $174.4 million, Net Loss of $19.9 million. Loan Applications Grew 31% in Q1

LendingClub (NYSE: LC), the leading marketplace lender in the US, reported first-quarter results today. According to the online lender, applications grew 31% with originations hitting $2.7 billion. Importantly, 73% of customers were approved within the first 24 hours – a necessary metric in the digital… Read More

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