Tagged: online lending

Following Delay of Financial Reports to NYSE, China Rapid Finance Announces Business Operations & Board of Directors Changes

China Rapid Finance Limited (NYSE: XRF), one of China’s largest consumer lending marketplaces, announced on Friday changes in its business operations and to its board of directors. The lender revealed that it has acknowledged its inability to file its annual report on Form 20-F in a… Read More

Cryptocurrency Lender Celsius Network Surpasses $200 Million in Coin Deposits Within 10 Months

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Celsius Network, a cryptocurrency lending and borrowing platform announced on Thursday it topped $200 million in coin deposits in the course of ten months, as well as completed $1.2 billion in originated crypto loans. Founded in 2010, Celsius claims that it addresses the financial needs… Read More

Australias Largest Fintech Lender Prospa Plans Initial Public Offering for June

Australian Fintech Prospa has announced its intent to complete an initial public offering (IPO) on the ASX on June 11, 2019. Prospa was founded by Greg Moshal and Beau Bertoli in 2012 with seed funding from Entrée Capital. The online lender originated its first loan… 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

Scotland: LendingCrowd Launches Two New Features to Help Investor Diversification

LendingCrowd, the only online lending platform based in Scotland, has launched two new features designed to boost diversification for investors’ portfolios. LendingCrowd states that investors in their Growth Account and Income Account, both available as an IFISA, can already create diversified portfolios of loans to… Read More

Assetz Capital Now Seeking £1 Million on Seedrs

UK-based peer-to-peer lending platform Assetz Capital is now seeking £1 million through its new equity crowdfunding campaign on Seedrs. Founded in 2012, Assetz Capital describes itself as a provider of alternative funding sources to SMEs and Property Developers and is one of the fastest-growing peer-to-peer… Read More

PeerStreet Reports Accelerating Growth as the Real Estate Platform Tops $2 Billion in Property Lending

This past March, PeerStreet, a real estate crowdfunding platform, announced that it had topped $2 billion in transactions and over $1 billion in Assets Under Management. Three months early in January, that transaction number stood at $1.7 billion. If that pace holds, PeerStreet should be… Read More

Prosper Announces 2019 First Quarter Financial Results

Leading marketplace lending platform Prosper announced on Monday the release of the financial results for the first quarter of 2019. Prosper reported that during the quarter it closed its second warehouse facility with $300 million in commitments, providing the company with $500 million in total… 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

Robo.cash Says P2P Investors Tend to Increase Investment by 30% After One Month

European peer to peer lending platform Robo.cash has published a note on platform investors indicating that after the first month of investing, users tend to invest 30% more. The second month, investors bump it up by another 10%. The intimation is that new investors test… Read More

Peer to Peer Lender Fincera Announces Year End Results. Issues First Semi Annual Dividend of $0.30

Peer to peer lender Fincera (OTCQB: YUANF) has issued their 2018 year-end results. The Chinese online lender reported top line revenue for the year ended December 31, 2018 at RMB 1,412.0 million (USD $205.7 million), an increase of RMB 388.1 million from RMB 1,023.9 million… Read More

OnDeck Announces First Quarter 2019 Financial Results

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Thursday its 2019 first quarter financial results. According to OnDeck, net income of $5.9 million, Adjusted Net Income of $8.3 million and gross revenue of $110.2 million. “Net income was $5.9 million, or $0.07 per diluted share, and decreased from the… Read More

Proplend Makes Property Funding Solutions Available to Individual Commercial Property Owners

Online platform Proplend announced on Wednesday it is making its property funding solutions available to individual owners of commercial property, as well as continuing to provide commercial investment finance solutions to corporate vehicles. According to Proplend, the Proplend loans are available to invest in manually… Read More

Funding Circle Latest Report Reveals: Banks Give Small Businesses The Cold Shoulder One Decade After Financial Crisis

Online lending platform Funding Circle announced on Monday it partnered with Oxford Economics to launch a new report, called “Big Business of Small Business,” which revealed banks have been giving small businesses the “cold shoulder” one decade after the financial crisis, causing the businesses to fail… Read More

Brazilian Marketplace FinanZero Secures $11 Million Through Series B Funding Round

FinanZero, a marketplace for consumer loans in Brazil, announced on Thursday it secured $11 million through its Series B funding round. Participants of the round were Atlant Fonder, Dunross & Co, and Vostok Emerging Finance. As previously reported, FinanZero describes itself as an independent broker… Read More

SoFi Reportedly Seeks $500 Million From Qatar Investment Authority

Fintech unicorn SoFi is reportedly seeking to raise $500 million from the Qatar Investment Authority. The company, which has a valuation of $4.3 billion, has previously raised $2 billion from investors, which includes Manhattan Venture Partners, RSC Capital, SoftBank, Silver Lake Partners, and DCM Ventures. Founded… 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

Peer to Peer Lender RateSetter Receives Queen’s Award for Enterprise

Peer-to-peer investment platform RateSetter has been recognized with a prestigious Queen’s Award for Enterprise for excellence in innovation. Established in 1965, the Queen’s Award for Enterprise is the most prestigious business award in the UK. The Award recognizes the success of innovative businesses which are… Read More

Online Lender Upgrade Recognized as Top Place to Work in San Francisco

Online Lender Upgrade, a Fintech serving the consumer credit market, has been named a “Best Place to Work in the Bay Area’”by the San Francisco Business Times and Silicon Valley Business Journal. Upgrade is the creation of  CEO Renaud Laplanche, the founder of publicly traded… Read More

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