Tagged: marketplace

October 24, 2016 @ 10:46 pm By JD Alois  |  

Australian online lender DirectMoney (ASX: DM1) has secured institutional funding for loans originating on its platform, according to the company’s board of directors.   The specific details were not immediately available but reportedly contractual terms on the wholesale institutional loan funding agreement was made with… Read More

October 24, 2016 @ 7:21 am By JD Alois  |  

Lending Club (NYSE:LC) has scheduled third quarter earnings release for Monday, November 7, 2016. The conference call will take place at 8AM ET that day. A live webcast of the call will be available at on the Lending Club website under the Events & Presentations menu…. Read More

October 21, 2016 @ 8:07 am By JD Alois  |  

Irish born but Asia based, First Circle has received $1.2 million in seed funding led by Key Capital and IMJ Investment Partners.  The online lender is targeting SME in the Philippines first but plans on expanding across Southeast Asia. Speaking with Businessworld.ie, Patrick Lynch, the… Read More

October 20, 2016 @ 1:00 pm By JD Alois  |  

CommonBond’s 3rd Securitization CommonBond has closed securitization of $168 million in refinanced student loans. The online lending platform reported a rating of ‘A1’ from Moody’s and ‘AA (low)’ from DBRS. The securitization was backed by $178 million in collateral. Goldman Sachs served as joint-lead managers and bookrunners… Read More

October 20, 2016 @ 10:48 am By JD Alois  |  

OnDeck (NYSE: ONDK) and Orchard Platform have signed an agreement where Orchard will provide a scalable solution to manage the  reporting for institutional investors purchasing loans via the OnDeck Marketplace. The agreement will also provide OnDeck with access to the entire Orchard for Originators product… Read More

October 19, 2016 @ 11:16 am By JD Alois  |  

This past weekend, Crowdfund Insider reported that China government officials published a list of restrictions for peer to peer lenders. These were largely a rehash of previously revealed regulations directed towards internet finance and more specifically peer to peer lending. But the Chinese government is… Read More

October 18, 2016 @ 10:15 pm By Therese Torris  |  

LendIt Europe gathered over 900 attendees from 50 countries on the banks of the Thames river to network and hear about the latest trends in online direct lending. The tone of the conference was clearly set by the UK keynote speakers. The UK being 4… Read More

October 18, 2016 @ 1:17 pm By JD Alois  |  

Prosper Marketplace has updated investors on their estimated returns for the month of September. According to the online lender, returns are just above 7% – a slight drop of 14 bps from August. Prosper said this number was impacted by: a slightly lower percentage of… Read More

October 17, 2016 @ 12:35 pm By JD Alois  |  

Fitch Ratings is out with a note on Goldman Sachs’ foray into the online lending market. Fitch says that Marcus, Goldman’s recently launched lending platform, seeks to combine the best of both Fintech and the stability of being a more traditional bank. Marcus is differentiated from… Read More

October 16, 2016 @ 12:00 pm By JD Alois  |  

The evolving Chinese peer to peer lending sector took another twist in the regulatory path, as the government issued a special work plan this past week. According to ECNS, the plan incorporated a list of restrictions for P2P lenders to help curb investor and borrower… Read More

October 16, 2016 @ 10:29 am By JD Alois  |  

CircleBack Lending has stopped making loans. This is according to a report by Bloomberg. The online lender said that funding had vaporized as some borrowers failed to repay their loans.  CircleBack provides unsecured consumer credit for loans from $3000 to $35,000. Michael Solomon, CEO and co-founder… Read More

October 14, 2016 @ 5:07 pm By JD Alois  |  

Siddhartha Jajodia, Lending Club‘s Chief Investment Officer, has forwarded a letter to the platform’s investor’s updating the key stakeholders on credit and interest rate changes. The letter from Lending Club (NYSE:LC) was disclosed in an 8-K filed with the SEC today (October 14, 2016). In… Read More

October 13, 2016 @ 8:37 am By JD Alois  |  

Lending Works, a consumer peer to peer lending platform, has received full authorisation by the Financial Conduct Authority (FCA).  Lending Works said it had originally applied for FCA approval in October of 2015 and had undergone a “stringent review process”. Lending Works has been operating… Read More

October 7, 2016 @ 11:29 am By JD Alois  |  

Leading marketplace lending platform Prosper has launched a new credit card services. Prosper’s “Credit Card Optimizer” is designed to aid consumers in managing their credit cards more effectively – stratght from their smartphones. Credit Card Optimizer seeks to save consumers money by solving common credit… Read More

October 7, 2016 @ 7:54 am By JD Alois  |  

Online commercial mortgage marketplace lender LendInvest has released financial results and for the 3rd year running has reported a profit of £3.4 million. The company also stated that revenue rose 133% in the 12 months ending in March 2016. Gross revenue hit £32 million versus… Read More

October 7, 2016 @ 7:38 am By JD Alois  |  

Finstar backed peer to peer lender Viventor has released a statement saying it is experiencing 60% average monthly growth during its first year of operation. The online lender launched in October 2015.  The company also shared that initial results after launch in 2015 were disappointing but said… Read More

October 5, 2016 @ 4:38 pm By JD Alois  |  

According to multiple reports, Prosper is shutting down secondary trading for it’s loans eliminating a liquidity path for retail investors. The justification was stated as lack of demand. Bloomberg reported that Sarah Cain, a Prosper spokesperson, explained the decision as one driven by utilization; “While… Read More

October 5, 2016 @ 11:44 am By JD Alois  |  

Australian marketplace lending platform DirectMoney has appointed Anthony Nantes as CEO. Former CEO Peter Beaumont will move into the Chief Operating Officer role. DirectMoney released a statement that Nantes will bring a set of skills that will deliver the next phase of company growth.  DirectMoney… Read More

October 4, 2016 @ 6:26 pm By JD Alois  |  

Blackmoon Financial Group is a newer entry into the marketplace lending sector.  Launched in 2014, Blackmoon is marketed as “marketplace lending as a service” or MLaaS. Focusing on balance sheet lenders, Blackmoon has developed technologies to provide integration with  loan originators with institutional investors. The platform… Read More

September 30, 2016 @ 7:50 pm By JD Alois  |  

Lending Club (NYSE:LC) has been stocking up on new executive hires during the past several months. One of the recent hires, Patrick Dunne – a former Blackrock executive, joined this past July as Chief Capital Officer. Dunne plays an important role is communicating with both… Read More