Tagged: marketplace

December 17, 2016 @ 2:59 pm By Samantha Hurst  |  

Earlier this week, fintech firm Even Financial announced it increased loan originations by 205% quarter over quarter since the beginning of 2016 and surpassed $1.5 billion in loan requests. The company has experienced solid growth since it was founded in 2014. Even Financial is aiming… Read More

December 16, 2016 @ 7:58 am By JD Alois  |  

Lending Club (NYSE:LC) filed an 8K yesterday indicating that Chief Technology Officer John MacIlwaine had submitted his resignation on December 15th. MacIlwaine decided to depart from Lending Club to pursue another opportunity.  Lending Club stated that Richard Southwick, Senior Vice President for Technology, will oversee… Read More

December 15, 2016 @ 7:03 am By JD Alois  |  

The Money Platform has launched in the UK.  The Money Platform is a peer to peer lender that targets short term credit of 3 to 12 weeks. After participating in the FCA’s Project Innovate incubator program, the Money Platform received the FCA’s full consumer credit… Read More

December 13, 2016 @ 3:12 pm By Samantha Hurst  |  

With its Seedrs campaign set to close later this week, social marketplace for bicycle sharing Cycle.Land has successfully secured more than £400,000 from over 215 investors. Founded earlier this year, Cycle.Land received support from Oxford University Innovation Incubator and launched in Oxford shortly after. The website claims… Read More

December 12, 2016 @ 2:29 pm By JD Alois  |  

ApplePie Capital has signed a $180 million loan purchase agreement with TowerBrook Capital while simultaneously announcing the closing of a $16.5 million Series B funding round. The TowerBrook funding will come from its Structured Opportunities Fund and a credit facility provided by SunTrust Banks, Inc…. Read More

December 10, 2016 @ 2:54 pm By JD Alois  |  

Moody’s is out with a note commenting on the Office of the Comptroller of the Currency’s recent announcement it will offer Special Purpose Bank Charters for Fintech firms.  The move by the OCC was in recognition of the growing importance of Fintech and the movement… Read More

December 8, 2016 @ 9:30 am By JD Alois  |  

LendingHome, has exceeded $1 billion in mortgage loans.  The online lending platform launched two and a half years ago and has claimed the title as fast growing mortgage marketplace lender. It was only last month that Crowdfund Insider reported that LendingHome had originated $750 million… Read More

December 6, 2016 @ 12:12 pm By Candace Klein  |  

Having just returned to the United States after six months of travel abroad, I feel generally disillusioned.  At first, I couldn’t tell if my discontent arose from the heartbreaking presidential election results; or the fact that I ended up in a new city with a… Read More

December 4, 2016 @ 8:35 am By Jessica Pham  |  

In a follow-up to the Ezubao (Ezubo) shutdown, five people affiliated with the Chinese P2P lending platform that is accused of a Ponzi scheme are on trial for gold smuggling.  This is the first court case that is a part of a scandal that robbed investors of between… Read More

December 3, 2016 @ 11:23 am By Samantha Hurst  |  

Online marketplace for guitars, The North American Guitar, has launched a campaign on equity crowdfunding platform Crowdcube. The website is seeking 350,000 for growth and expansion. Founded in 2011, The North American Guitar notably provides a convenient and inform way to purchase both high-end guitars… Read More

December 3, 2016 @ 11:18 am By JD Alois  |  

This may be a case of too much of a good thing. The FT is reporting that Zopa has put a halt to retail investors lending money on their peer to peer lending platform. Allegedly, yield hungry investors are “flooding” the market hunting for better… Read More

December 1, 2016 @ 8:00 pm By JD Alois  |  

One of the frequently touted benefits of peer to peer/marketplace lending is the heightened transparency associated with loan originations processed online.  The financial crisis of the last decade was in part fueled by the disconnect between lender and borrower. As mortgages were securitized, sliced and… Read More

November 30, 2016 @ 10:45 am By JD Alois  |  

Canaan Partners has filed a Form 4 indicating it has sold shares in Lending Club (NYSE:LC). Canaan was an early investor in Lending Club but over past months the VC firm has been selling shares in the publicly traded online lender. Canaan Partners is a Silicon… Read More

November 28, 2016 @ 9:48 am By JD Alois  |  

Singapore based SmartFunding has received S$700,000 (about USD$ 500,000) in seed funding. The round was led by Fintech Asia Group, part of listed venture firm Fatfish Internet Group (ASX: FFG). The “peer to business” platform was set up to bridge the financing gap for SMEs to… Read More

November 28, 2016 @ 9:00 am By JD Alois  |  

Orchard has published its quarterly report on loan originations for the online lending industry. According to their numbers, origination volumes continued to drop in Q3 from Q2 2016.  The decline was significant too – decreasing by 21% in Q3 and down 50% from the peak… Read More

November 23, 2016 @ 10:29 am By JD Alois  |  

The NS&I Investment bond as described in the Autumn Statement was created to provide savers with a higher rate of return. The indicative rate is 2.2% but the rate may be adjusted according to market conditions when it is launched in the spring of 2017. The… Read More

November 18, 2016 @ 1:39 pm By Samantha Hurst  |  

All By Mama, an online marketplace that features products made by parent-run businesses, has recently launched an equity crowdfunding campaign on Crowdcube. The platform is currently seeking £75,000 to continue growth and is offering 9.09% in equity. All By Mama, which was launched 2014 by Gemma Whates,… Read More

November 18, 2016 @ 8:05 am By JD Alois  |  

ThinCats, a P2P lender in secured business loans, has received two new accreditations in recognition of its platform operations. ThinCats has been recognized by the National Association of Commercial Finance Brokers (NACFB) for best practice within commercial finance broking. Simultaneously, Defaqto has given ThinCats a… Read More

November 16, 2016 @ 10:51 am By JD Alois  |  

SME online lender DealStruck has reportedly shut down operations.  An industry insider has told Crowdfund Insider the online lender closed shop yesterday. We have also heard that most all employees have departed the platform.  The action was taken just as an 11th hour acquisition by… Read More

November 16, 2016 @ 9:42 am By JD Alois  |  

Zopa, the grande dame of peer to peer lending, has revealed its intent to launch a “next generation” challenger bank. Zopa CEO Jaidev Janardana stated they have created a scalable, profitable business yet they had only begun; “Launching a bank, to sit alongside our existing peer-to-peer… Read More