Tagged: online lending

Asian Platform Funding Societies Tops THB 1 Billion in Thailand

Singapore-based Funding Societies has surpassed THB 1 Billion (USD $27.8 million) in online lending in Thailand, according to a note from the company. Funding Societies secured a license in Thailand in 2021. Funding Societies is a platform providing access to capital for SMEs in multiple… Read More

Marketplace Lender Prosper Releases Latest Performance Update

The team at Prosper notes that they’re sharing performance data from the Prosper Portfolio for October 2022. Highlights from the Prosper Performance Update – October 2022: Dollar % of AA-B rated loan originations in October comprised approximately 63% of total loan originations, representing a 102… Read More

European Online Lender October Reveals that Connect, the New Site, Is Now Live

The team at October are pleased to announce that after months of work, the October Connect website is finally live. October’s Tech, Product, Marketing and Connect teams “have worked hard to deliver a totally restyled website.” The design “has been reviewed, each word was carefully… Read More

MONEYME Exceeds $3B in Originations, Shareholders Vote Yes to B Corp

Digital lender and non-bank challenger MONEYME Limited (ASX: MME) has surpassed $3 billion in originations since inception, “after 4x growth in FY22 driven primarily by the success of its auto finance product Autopay.” This includes the $1.1 billion in originations by SocietyOne “prior to the… Read More

DivideBuy Partners with Acquired.com to Boost POS Credit

DivideBuy, a UK-based point of sale (POS) credit provider, has announced a new partnership with payments platform Acquired.com. Acquired.com is a Visa and Mastercard accredited payment service provider as well as a Payment Initiation Service Provider (PISP) – regulated by the FCA, receiving its license… Read More

India’s Cashfree Payments Introduces Lending Solution to Help Financial Services Firms

Cashfree Payments, India’s payments and API banking solutions company, has rolled out their Disbursement and Collections solution for Lending, “to enable NBFCs and their partner LSPs to comply with the new Digital Lending guidelines.” Cashfree Payments will “facilitate both digital lending and co-lending use cases… Read More

LendingClub Reports Top Line Growth of 24%, EPS Grows 58% to $0.41

LendingClub (NYSE: LC), one of the few federally chartered digital banks, has reported Q3 2022 earnings. The Fintech states that total net revenue during the quarter came in at $304.9 million, growing by 24% year over year, driven by growth in net interest income. Alongside… Read More

Lending Tech for Banks: Biz2X Announces Ascend Edition Lending Service

Biz2X, an offshoot of Biz2Credit – an online small business lender, has announced its new Ascend Edition which aims to provide a better tech stack for banks and other financial services firms that offer online lending. In a release distributed during Money20/20, Biz2X said the… Read More

Mozzeno, a Belgian Peer to Peer Lender, Reports Topping €100 Million in Loans

Mozzeno, a peer-to-peer lending platform based in Belgium, has surpassed €100 million in individual loans, according to a blog post. Mozzeno raised €465,000 in pre-seed funding in 2016 and went on to originate its first loan the following year. Mozzeno celebrated its 5-year anniversary in… Read More

Proplend, an Investment Platform for Commercial Property Loans, Appoints New Chairman of the Board

Proplend, an online lending platform that allows individual investors to partiipate in commercial property loans, has appointed a new Chairman of the Board. According to a note from Proplend, Jason Oakley is the new Chair. Oakley was most recently the Managing Director of Metro Bank…. Read More

Robocash Posts H1 2022 Results

Robocash Group has distributed its first six months of 2022, ending June 30, financial results. According to the company, revenue is up by 53.1% to USD$ 214.2 million from USD$ 139.9 million, year over year. The report was reviewed by FBK Grant Thornton and did… Read More

Online SME Lender DBT Raises SEK 3.1 Billion Debt Facility

DBT, a Swedish online lender serving SMEs, has raised a SEK 3.1 billion (~$285 million) debt facility from UK-based NatWest and Värde Partners, according to a company statement. Värde Partners is a US-based investment firm and currently manages $2 billion of financial services debt and equity… Read More

Linked Finance Tops €200 Million in Online Lending for SMEs

  Linked Finance has topped €200 million in online lending in support of Irish SMEs. The Fintech reported that it had doubled its annual lending in less than 2 years. Linked Finance was launched in 2013 aiming to provide access to capital for Irish SMEs…. Read More

Banks Won’t Lend to Businesses: Sonovate Survey Notes that 25% of UK Businesses Struggle to Access Capital

Sonovate reports that new research indicates that small businesses are struggling to access finance from mainstream providers – IE traditional banks. Because of this, firms are tapping alternative finance providers as inflation rises along with rates. Pointing to a report by the UK Financial Conduct… Read More

SME Online Lender Ranqx Appoints Former JPMorgan Executive as Chairman

Online lender Ranqx has appointed John Horner as Chairman of the firm. Horner was previously JPMorgan Chase CIO and Treasurer. He is currently Managing Partner at MoVi, a network dedicated to learning and innovation that advises, incubates, and invests in early-stage firms. Ranqx is based in… Read More

VIAINVEST Enlists IDenfy to Power KYC, ID Verification Service

VIAINVEST, a peer-to-peer lending platform licensed and supervised by the Financial and Capital Market Commission in Latvia, has enlisted the assistance of iDenfy to provide ID verification and anti-fraud sevices. iDenfy ensures AML and KYC compliance for both large and smaller firms. VIAINVEST believes that… Read More

Online Lending: Unsecured Personal Loans Jump by 30% More than Pre-Pandemic: PeerIQ

Unsecured personal loans have risen by around 30% more than pre-pandemic levels, according to a report by PeerIQ. The tech platform which tracks online lending says: ” it appears that lenders are reaching down the credit spectrum to originate loans, with the below prime originations… Read More

Funding Societies Gains USD $50 Million Credit Line from HSBC

Funding Societies, a Southeast Asian SME finance provider, has gained a USD $50 million credit facility from HSBC Singapore. The additional capital will be utilized to provide financing to underserved SMEs in the region. Funding Societies reports that commercial lending in Asia Pacific is expected… Read More

Marketplace Lender Prosper Shares Latest Performance Update

The team at Prosper has shared their performance data from the Prosper Portfolio for July 2022. Highlights from the Prosper Performance Update – July 2022 are as follows: In July, approximately 59% of loan originations “were rated AA-B, increasing by approximately 1.6% month-over-month.” Average loan… Read More

Jorn van Duijnhoven Joins October as Head of Customer Success

Recently, Jorn van Duijnhoven was asked to take on the role of Head of Customer Success at European online lender at October. Jorn van Duijnhoven has been appointed “due to changes” within October’s organization. He stated: “I have to say that I didn’t see it… Read More

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