Tagged: online lending

September 15, 2020 @ 7:51 pm By Omar Faridi  |  

The online or digital lending sector has been criticized for its inability to scale effectively or to be able to endure challenging environments like those created due to COVID-19. However, it now appears that overall credit quality, through online lenders, has performed better than some… Read More

September 14, 2020 @ 11:45 am By JD Alois  |  

dv01, a data platform for online lending, has received a significant boost as SoFi is uploading $19 billion worth of  SoFi student loan securitization to the platform. According to a note from the company, the new partnership is a “big step forward” regarding lending transparency… Read More

September 12, 2020 @ 2:29 pm By Omar Faridi  |  

UK-based Folk2Folk, a peer to peer lender supporting local and rural businesses, has confirmed that it’s still confident that it will be approved to begin lending under the country’s Coronavirus Business Interruption Loan Scheme (CBILS), even though the application deadline will come at the end… Read More

September 10, 2020 @ 10:55 am By JD Alois  |  

creditshelf Aktiengesellschaft, a marketplace lender serving German SMEs, reports that growth remains robust for its platform even during the ongoing COVID-19 challenge. According to creditshelf, a solid Q2 led to significant revenue growth of 41.6% during the first six months of 2020 when compared to… Read More

September 9, 2020 @ 8:19 pm By JD Alois  |  

Funding Societies, an SME digital financing platform has updated much of its executive team. According to a note from the company, Frank Stevenaar joins as the Fintech’s first Chief Financial Officer (CFO), Nihit Nirmal takes on the role as Chief Product Officer (CPO), and Ishan… Read More

September 8, 2020 @ 6:36 pm By JD Alois  |  

Fvndit, Inc. (pronounced “fundit”), a California/Vietnam-based Fintech has received a $30 million investment of debt financing led by Accial Capital and Variant Investments. Fvndit operates a wholly-owned subsidiary, eLoan, JSC, an online peer-to-peer marketplace in Vietnam. Fvndit reports that SMEs account for 41% of Vietnam’s… Read More

September 8, 2020 @ 1:31 pm By Samantha Hurst  |  

Small business funding platform Biz2Credit announced on Tuesday its latest Small Business Lending Index has been released and revealed small business loan approval percentages at big banks ($10 billion+ in assets) and small banks dropped slightly in August 2020, an indication that the upward trend… Read More

September 7, 2020 @ 10:45 pm By Omar Faridi  |  

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, notes that the Bounce Back Loan Scheme (BBLS) will be ending in early November of this year. The BBLS has been provided via the British Business Bank… Read More

September 6, 2020 @ 6:42 pm By Omar Faridi  |  

UK-based Zopa, a digital bank and online lender, has reportedly started accepting credit card applications, as it continues to expand its line of products and services. The company is offering a credit card with annual percentage rates starting from 9.9%, however, there’s a representative APR… Read More

September 6, 2020 @ 5:00 pm By Omar Faridi  |  

Online peer to peer (P2P) lender Robo.cash is reportedly getting ready to conduct its initial public offering (IPO) in Australia in December of this year. Robocash Group, which is the parent company of Europe based P2P lender Robo.cash, will be the next Fintech service provider… Read More

September 6, 2020 @ 3:17 pm By Ram Alagianambi, Arun Sikka, Janna Goldberg and Louis Caditz-Peck  |  

Expand your business’ impact by designing smarter products that benefit customers Building great financial products should follow the same basic rules as building any other solid products. However, this post will go beyond the basics and discuss how we can build financial products to improve… Read More

September 4, 2020 @ 8:33 pm By Omar Faridi  |  

Fintech lenders in India are reportedly looking for ways to implement the Reserve Bank of India’s (RBI) loan restructuring scheme. Non-bank Indian companies and online lending platforms are trying to rework their loan collection and overall business strategies, according to the ET, which cited sources… Read More

September 3, 2020 @ 9:38 pm By Samantha Hurst  |  

LendingUSA, a U.S.-based fintech lender that provides loans to small businesses ranging from $1000 to $35,000, announced on Thursday it secured a $200 million investment commitment from Atalaya Capital Management, a New York-based privately held investment advisory firm. As previously reported, LendingUSA specializes in point… Read More

September 2, 2020 @ 9:34 pm By Omar Faridi  |  

Asian Fintech firm GoBear, which secured $17 million in capital in May 2020 to expand operations, has reportedly decided to lay off 22 staff members – which includes 6 workers based in Singapore. GoBear’s management has also laid off employees based in Ukraine, Vietnam, and… Read More

August 31, 2020 @ 8:20 pm By Omar Faridi  |  

Online or digital onboarding for obtaining loans in India is expected to increase to 55-75% of the total credit disbursement by 2025, according to Akhil Handa, head of Fintech, partnerships and mobile banking and digital lending department, Bank of Baroda. Handa revealed that, between 2015… Read More

August 24, 2020 @ 10:12 pm By Omar Faridi  |  

Indonesia, which has one of the largest economies in Southeast Asia and also ranked high globally, has emerged as a fast-growing Fintech hub. It’s estimated that in the next five years, digital financial services revenues in Indonesia will reach $8.6 billion, meaning they’re increasing at… Read More

August 24, 2020 @ 9:03 am By JD Alois  |  

Zopa, a digital bank and online lender, has published the interest rates affiliated with its savings accounts. According to a note from the Fintech, savers may generate interest from 1.05% to 1.3% – depending on the term. Zopa’s Fixed Term Savings accounts are available today… Read More

August 19, 2020 @ 12:12 pm By Samantha Hurst  |  

Online lending platform Lendio announced on Wednesday its latest report reveals how its network of lenders converged to help secure $8 billion in Paycheck Protection Program (PPP) approvals. The lender reported that more than 100,000 small business owners utilized its online application to access the… Read More

August 18, 2020 @ 8:49 am By JD Alois  |  

Kabbage, one of the best known online lenders in the US, has signed an agreement to be acquired by American Express (NYSE:AXP). Rumblings of a potential deal between the two parties have been circulating for some time now. In a public statement, American Express said… Read More

August 17, 2020 @ 2:36 pm By JD Alois  |  

Brendan Ross, the former CEO and founder of Direct Lending Investments (DLI), is the target of a Civil Enforcement Action filed by the Securities and Exchange Commission (SEC) last week. Direct Lending Investments was once a prominent participant in the online lending industry in the… Read More