Tagged: marketplace

First 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. Total… 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

LendingClub Partners with Funding Circle and Opportunity Fund to Provide Better Access to Credit for SMEs

Beginning today, LendingClub (NYSE: LC) will connect small business borrowers seeking a loan on their online lending platform with both Funding Circle and Opportunity Fund. The initiative is being pitched as a collaboration designed to substantially increase small business owners’ access to transparent, affordable and… Read More

Marketplace Lending Platform Prosper Settles Fraud Charges Brought by SEC, Pays $3 Million Penalty

Leading marketplace lending platform Prosper has settled fraud charges for misstating returns, according to a release from the Securities and Exchange Commission (SEC).  Without admitting or denying the allegations, Prosper has consented to an SEC order finding it violated an anti-fraud provision of the Securities… Read More

LendingClub to Announce Q1 Results on May 7th After Market Close

The largest marketplace lending company LendingClub (NYSE: LC) will report Q1 2019 results after the bell on Tuesday, May 7, 2019. According to the Q4 report, the following guidance was provided: Net Revenue to be in the range of $162 million to $172 million Consolidated… Read More

LendingClub Proposes a Reverse Split of 5-1 for its Shares

LendingClub (NYSE:LC) has filed a document with the Securities and Exchange Commission (SEC) indicating its intent to do a reverse split on issued and outstanding shares. LendingClub would exchange 5 shares for 1. The proposal was included in the notice of the forthcoming Annual Meeting… Read More

Australian Securities & Investment Commission Touts Growth of Alternative Finance, Fintech Innovation. Publishes Reports on Marketplace Lending and “Crowd-Sourced Funding”

The Australian Securities & Investment Commission (ASIC) has published several reports touting the progress of Fintech in Australia. ASIC said that recent surveys show an increase in demand – aided in part by ASIC’s Innovation Hub. Australia may be a smaller market but it has… Read More

Update: MoveGB to Complete Crowdcube Round With Nearly £1.3 Million in Funding

MoveGB, an online fitness marketplace, will be closing its highly successful equity crowdfunding round on Crowdcube with nearly £1.3 million in funding. The round, which was launched last month to originally raise £1 million, has attracted more than 1100 investors. Founded in 2013, MoveGB describes… Read More

Update: Online Fitness Marketplace MoveGB Surpasses £1.2 Million During the Final Week on Crowdcube

MoveGB, an online fitness marketplace, is set to close its equity crowdfunding round on Crowdcube with more than £1.2 million in funding. The campaign was launched last month, with a funding target of £1 million. As previously reported, MoveGB was founded in 2013 and has more than… Read More

LendingClub Tops Earnings Expectations as Loan Originations Rise but Forecast Disappoints

Leading marketplace lending platform LendingClub (NYSE: LC), released Q4 earnings today along with full year 2018 numbers, and its numbers beat expectations. LendingClub reported record loan originations of $10.9 billion a 21% increase versus the year prior. Net revenue jumped along with originations rising 21%… Read More

Younited Credit Passes the €1 billon Mark and Extends its Credit-as-a-Service Offering

At the Paris Fintech Forum, Charles Egly, Co-founder & CEO, Younited Credit highlighted his company’s latest achievements and the recent strategic development of its Credit-as-a-service offering. Among the achievements, Younited Credit announced that it passed the €1 billion mark in consumer credit origination. Among direct… Read More

A Fireside Chat With EstateGuru, the P2P Lender that Takes Property Finance Across Borders

The Paris Fintech Forum gathers more than 2,500 participants this week in Paris at the old stock exchange to meet hundreds of Fintechs and listen to more than 200 CEOs, heads of government and regulation agencies, as well as luminaries such as Ms Christine Lagarde,… Read More

Overfunding: Online Fitness Marketplace MoveGB Quickly Secures £1 Million Funding Target on Crowdcube

MoveGB, an online fitness marketplace, has successfully secured its initial £1 million funding target through its equity crowdfunding campaign on Crowdcube. Founded in 2013, MoveGB has more than 6,000 activity providers and 350,000 registered users. The company claimed the third fastest growing UK business in 2017’s Deloitte… Read More

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