Tagged: marketplace

Ron Suber on Fintech & Fraud: A Global Challenge (Deck)

Acts of fraud have been around since the dawning of time. How fraud occurs is a never-ending, shape-shifting challenge for individuals, companies and public authorities. There will always be a new scam. There will always be another Ponzi or Madoff looking to separate hard-earned money… Read More

Xero Integrates with Multiple Online Lenders

Xero has announced a series of new agreements to integrate a handful of online lending platforms. Xero has added MarketInvoice, iwoca, and DueCourse to its software platform. Xero is an online accounting software designed for small business and their advisors. The company currently has over… Read More

SME P2P Lender FinBee Launches in Lithuania Leveraging Madiston Tech

UK based Madiston has shared that FinBee, the first licensed peer to peer lender for SMEs in Lithuania, has launched using Madiston tech. FinBee has already been in operation providing consumer loans using the Madiston platform. The company is extending the arrangement to move into… Read More

Rating Action: Fitch Upgrades Loans Originated by Prosper

Fitch Ratings has taken the following rating actions on Citi Held for Asset Issuance 2016-PM1 (CHAI 2016-PM1), which is backed by marketplace loans originated via the Prosper platform: Class A upgraded to ‘Asf’ from ‘A-sf’; Outlook Stable; Class B upgraded to ‘BBBsf’ from ‘BBB-sf’; Outlook… Read More

Yirendai Releases Q4 Results. Reports 100% Growth in Year Ov

Yirendai Ltd. (NYSE:YRD), a prominent online lender in China, announced its unaudited financial results for the quarter and full year ended December 31, 2016. Folowing the release, shares moved lower in pre-market trading. In Q4 of 2016, Yirendai reported it had facilitated 194,505 investors with total… Read More

Online Lender Lendix Prepares for First Italian Loans Soon After Launch in Spain

Lendix has opened its platform to Italian investors. Following the launch in Spain, Lendix, a leading online lender targeting the SME sector, expects to issue its first loans in Q2 of 2017.   Yes, we are open ! Sì, siamo aperti ! Oui, nous sommes… Read More

The Fantastical World of Chinese Marketplace Lending Promotions

One of the fundamental differences between Chinese and US lending platforms can be found just by examining the home pages of their websites. Most, if not all, US platforms’ landing pages are targeted at borrowers and exhibit mainly information around borrowing whereas, on those of… Read More

Online Lender Blackmoon Partners with ID Finance to Offer Loans to Investors

ID Finance has integrated with Blackmoon and is now executing investment transactions via the Russian online lending platform. ID Finance is a data science, credit scoring and “nonbank digital lending as an application” provider. ID Finance has is currently operating in Russia, Kazakhstan, Georgia, Poland, Spain and Brazil…. Read More

StackSource Debuts New Commercial Real Estate Loan Marketplace At LendIt

New York-based fintech startup StackSource launched its real estate loan marketplace product during the 2017 LendIt conference, as part of the PitchIt @ LendIt competition. The company revealed: “StackSource’s new marketplace product lets commercial real estate owners and developers easily connect with bank and non-bank lenders…. Read More

The Stamina of Rocky Balboa: Prosper President Ron Suber Updates on Marketplace Lending Industry (Video)

Ron Suber, the President of Prosper and a perennial keynote speaker at the annual LendIt conference, delivered a rousing update on the status of marketplace lending.  Directly addressing the challenges that impacted all online lenders in the past year, Suber stated; “Success this past year required… Read More

Orchard Publishes Quarterly Online Lending Report: Originations Move Up From Q3

Orchard’s platform published their quarterly report a few days back covering Q4 of 2016. According to Orchard, loan volume increased in Q4 reversing a trend that began in Q4 of 2015.  While originations ticked up in Q4 versus Q3, they are still nowhere close to where… Read More

Lending Club Wins Motion to Compel Arbitration. Avoids Class Action.

Lending Club (NYSE:LC) has was a significant court victory regarding its ability to compel arbitration. The case Bethune v. LendingClub Corp. was filed in the Souther District Court of New York in 2016. The issue pertained to the interest rate a New York resident was being charged… Read More

Big News for Prosper: Marketplace Lender Signs Agreement for $5 Billion in Loan Purchases from Consortium of Investors

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

Lending Club Alters Grace Period for Borrowers

Lending Club (NYSE:LC) has tweaked the way it manages the “grace period” for borrowers when they make payments past the due date. Previously, borrowers received a 15 day grace period for any penalties on payments less than 15 days late.  Beginning today, Lending Club requires… Read More

French Retail Investors Elect Their Favorite SME Lending Marketplaces

In what is probably a worldwide premiere, the French SME lending aggregator site crowdlending.fr organized an online competition enabling retail investors to elect their favorite lending marketplaces. The members of crowdlending.fr’s community of lenders lend on average €4,500 through 3,2 platforms. The 600 voters, who… Read More

Report: Funding Circle Has Topped £2 Billion in Lending

SME lender Funding Circle has reportedly topped £2 billion in lending. The SME marketplace lender is closing in on UK’s largest online lender Zopa that announced in January it had surpassed the £2 billion mark. Of course Funding Circle is an international operation with lending… Read More

Bitbond Raises $1.2 million to Fuel Global Expansion of SME Lending

Bitbond has raised $1.2 million in equity capital to help boost global expansion. The Berlin-based online lending platform has now raised total funding of $2.3 million. The funding round was led by mobilike founder Şekip Can Gökalp, plus several angels investors including, Fyber founders Janis Zech… Read More

RateSetter Borrowers Have Paid Back £1 Billion, Investors Have Earned £63 Million

Online lender RateSetter has said it has now collected £1 billion in capital repayments from borrowers since its first loan back in 2010. Overall, RateSetter has originated approximately £1.75 billion in loans while paying out £63 million in interest.  The average interest rate ranged between… Read More

Big Ticket Borrowing: Midsized Companies Turn to Marketplace Lending at Lendix & Creditshelf

At the onset of the marketplace lending market, lending to businesses was equated with lending to small and very small businesses: businesses at the low end of the small and medium-size enterprise (SME) market who were borrowing on average under €100,000.  However, as the alternative lending… Read More

Here is Lending Club’s Q4 Earnings Presentation (Deck)

Lending Club (NYSE:LC) has reported Q4 2016 earnings along with forward-looking statements for 2017. Lending Club reported that loan originations in Q4 of 2016 were $1.99 billion, or 1% higher compared to the $1.97 billion reported in Q3 of 2016 and down 23% compared to $2.58 billion in the… Read More