Tagged: marketplace

September 26, 2016 @ 5:19 pm By JD Alois  |  

Lending Club (NYSE:LC) has been on a steady pace rebuilding its executive bench.  Today, the largest marketplace lending platform in the US has announced a new General Counsel. Russell Elmer has been named as the new GC replacing Jason Altieri who has been Lending Club’s… Read More

September 26, 2016 @ 8:19 am By JD Alois  |  

Peer to peer lender ArchOver is pointing to a recent report from Equity Development regarding investor protection for lenders using their platform. The report calls ArchOver the “pioneer of secured and insured loans” for SMEs. ArchOver says that to date the platform has not experienced… Read More

September 23, 2016 @ 11:03 am By JD Alois  |  

Lufax, one of China’s largest peer to peer lending platforms, is preparing for its long-awaited IPO. This is according to a report in Reuters that stated the IPO could raise $5 billion. At the last funding round, Lufax captured a valuation topping $18 billion.  China… Read More

September 19, 2016 @ 9:59 am By JD Alois  |  

RateSetter has released its accounts for 2015 – 2016.  According to their financial results, top line revenue increased 46% to £18.5 million from £12.6 million versus prior period. The increase in revenue was paired with a pre-tax loss of £4.9 million compared to a pre-tax… Read More

September 19, 2016 @ 9:34 am By JD Alois  |  

Prosper Marketplace has published their monthly loan report and for investors in the marketplace lending things are looking pretty good. Prosper states that the 2016 portfolio is on track to have the highest estimated return since 2013. This is alongside the highest average FICO to date…. Read More

September 18, 2016 @ 8:18 pm By JD Alois  |  

SocietyOne, Australia’s largest marketplace lending platform, has rearranged the executive bench according to multiple reports. Founders Co-founders Matt Symons and Greg Symons (not related) have recently updated roles. Matt Symons will now become a non-executive director of the online lending firm. He is currently listed as… Read More

September 17, 2016 @ 11:36 am By JD Alois  |  

The House Financial Services Committee, chaired by Congressman Jeb Hensarling, has booked a busy schedule next week. Included on the list of hearings is a visit from Secretary of the Treasury Jack Lew. Testifying on Thursday, September 22nd at 10AM, Lew will be addressing the… Read More

September 15, 2016 @ 11:33 pm By Georgia Quinn  |  

  When I realized the 2016 AltFi Conference was at the posh Pierre Hotel on the corner of Central Park, it immediately gave me pause. I remembered 2007 and 2008 when certain mortgage-backed security investment conferences were held at such addresses. Also, is the storied… Read More

September 15, 2016 @ 9:09 am By JD Alois  |  

Ron Suber, President of Prosper Marketplace, presented at the Fall AltFi conference in Manhattan yesterday and delivered a keynote address on the status of marketplace lending. Now most industry observers know that  the online lending industry was hit with a one-two punch this year. As the economy… Read More

September 15, 2016 @ 8:04 am By JD Alois  |  

  TWINO Group, a European consumer lender, has announced that it has reached a new funding milestone of €300 million in issued loans. TWINO also operates a peer to peer lending platform that has funded approximately €50 million in loans.  Interestingly, TWINO points out that 8%… Read More

September 14, 2016 @ 5:46 pm By JD Alois  |  

Lending Club (NYSE:LC), the leading marketplace lending platform in the US, just announced the hiring of its new CFO, Thomas Casey, following the departure of Carrie Dolan announced several weeks back. Today, Lending Club is revealing what they had to pay Casey to gain his… Read More

September 14, 2016 @ 9:57 am By JD Alois  |  

In multiple reports, Chinese authorities raided the offices of “two crippled peer to peer lending platforms”.  Both Jinlu Fund and Dangtian Wealth were visited by Shanghai police on suspicion of “illegally pooling deposits”, according to China News. Both platforms are affiliated with Shanghai Kuailu Investment… Read More

September 12, 2016 @ 4:37 pm By JD Alois  |  

Lending Club (NYSE:LC), the leading marketplace lending platform in the US, has announced the appointment of Thomas Casey as their new Chief Financial Officer. The hiring comes after long-time executive Carrie Dolan announced her departure several weeks back.  Lending Club described Dolan’s departure as a long… Read More

September 12, 2016 @ 11:04 am By JD Alois  |  

WalletHub has published their Credit Card Debt Study that shows a dramatic increase in household indebtedness – specifically in credit card debt. According to the report, US consumers cranked up on credit during Q2 of 2016 generating $34.4 billion in debt. This is the largest Q2… Read More

September 12, 2016 @ 9:07 am By JD Alois  |  

Orchard Platform has launched a “Data Partner Program” that aggregates loan data from a range of leading online lending platforms. Via the Orchard Data Partner Program, originators will be able to gain the ability to analyze and compare their loan performance to that of their… Read More

September 10, 2016 @ 5:32 pm By JD Alois  |  

Foreshadowing the inevitability for all forms of finance moving online, Moody’s has published a report stating the Residential Mortgage Backed Securities (RMBS) will soon be issued by marketplace lending platforms. They also believe that current regulatory and securitization frameworks will reduce additional risk with RMBS… Read More

September 10, 2016 @ 10:20 am By Samantha Hurst  |  

Earlier this week, an online marketplace for pre-owned fashion and furniture, Preselected Couture, took to equity crowdfunding platform Crowdcube to raise £120,000 for its continuous website and smartphone app development. Launched in May 2016, the marketplace specializes in designer items (which includes designer clothes, footwear, accessories,… Read More

September 7, 2016 @ 9:02 am By JD Alois  |  

Harmoney, a New Zealand based peer to peer lending platform, has surpassed $300 million in lending just shy of their 2 year anniversary of consumer lending. According to their website, Harmoney’s bulk of borrowing has been for debt consolidation.  Interest rates start at 9.99% today. Lenders… Read More

September 5, 2016 @ 10:52 am By JD Alois  |  

At the most recent count, China-based peer to peer lender Yirendai (NYSE:YRD) has at least eight class-action lawsuits filed against the company following the enactment of new regulations directed towards the booming online lending industry in China. The firms that have made public proclamations are as… Read More

September 2, 2016 @ 3:37 pm By JD Alois  |  

Chicago-based RiverNorth Marketplace Lending Corporation is poised to launch a fund that will be investing in marketplace lending assets under the 40s Act as a non-listed closed end fund. According to a recent filing with the SEC, the fund anticipates that its investments will originate… Read More