Tagged: online lending

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

August 16, 2020 @ 4:33 pm By Omar Faridi  |  

Brazilian Fintech firm SuperSim, a microlending startup based in São Paulo, recently secured R$30 million (appr. $5.6 million) in capital through debt financing, so that it can improve the South American nation’s credit market. Latin American consumers and businesses have expressed concerns about how difficult… Read More

August 12, 2020 @ 10:16 pm By Omar Faridi  |  

RevFin, a digital lending Fintech startup, has teamed up with EVI Technologies in order to finance E-Rickshaw and E-Two wheelers in India. The funding will also go toward supporting swappable battery solutions offered by EVI Technologies. The initiative will mainly cover Indian states like Delhi-NCR,… Read More

August 12, 2020 @ 1:38 pm By Samantha Hurst  |  

U.S. digital lending solutions provider Blend announced on Wednesday it secured $75 million through its Series F funding round, which was led by fintech-focused venture capital firm Canapi Ventures with participation from Temasek, General Atlantic, 8VC, Greylock, and Emergence. Founded in 2012, Blend states it… Read More

August 12, 2020 @ 10:12 am By Samantha Hurst  |  

UK-based peer-to-peer lending platform Assetz Capital announced on Wednesday it has launched its new Access Account Marketplace. According to Assetz Capital, the marketplace allows investors to apply a discount when buying and selling Access Account loan holdings. “Access Account investors can now choose whether to… Read More

August 11, 2020 @ 10:44 am By Samantha Hurst  |  

Small business funding platform Biz2Credit announced on Tuesday its latest Small Business Lending Index has been released and revealed that the approval percentage for small business loan applications at big banks, which are more than $10 billion in assets increased three-tenths of a percent from… Read More

August 7, 2020 @ 9:16 am By JD Alois  |  

Prospa (ASX: PGL), an online lender operating in Australia and New Zealand, has been recognized as the Fintech Lender of the Year by the MFAA National Excellence Awards. This is the third year running that Prospa has received the accolade. Prospa also shares that some… Read More

August 6, 2020 @ 4:10 pm By Samantha Hurst  |  

Genesis, a digital currency trading and lending platform, announced on Thursday it has teamed up with cryptocurrency exchange Luno to enable interest-bearing products customized for the Luno community as well as provide Luno customers with access to earn interest on their crypto holdings. Genesis further… Read More

August 6, 2020 @ 4:04 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced it will not be accepting new applications for the Paycheck Protection Program after August 6th (today). The online lender decided to close the application process for new applicants before the August 8th deadline in order to finalize existing applications…. Read More

August 6, 2020 @ 9:03 am By JD Alois  |  

Assetz Capital, a peer to peer lender providing secured loans to businesses, has applied for a £10 million Banking Competition Remedies (BCR) Pool E grant, according to a note from the company. Assetz Capital states that it has submitted an application for Pool E that… Read More

August 5, 2020 @ 11:06 pm By Omar Faridi  |  

Approximately $1.47 billion was invested into businesses operating in the Fintech sector in India between January to June 2020, according to the latest MEDICI Report covering Indian financial technology markets. The amount invested into India’s Fintech industry during H1 2020 was 60% greater than the… Read More

August 5, 2020 @ 3:47 pm By Samantha Hurst  |  

Roostify, a U.S.-based digital lending platform, announced on Wednesday the enhancement of its Credit Services product. Roostify reported that through this new integrated service, the platform’s customers can select tri-merge, single bureau, soft and hard credit pulls directly from the Roostify’s site. “Integrated credit is… Read More

August 4, 2020 @ 4:36 pm By JD Alois  |  

LendingClub (NYSE:LC) is out with Q2 earnings and, as anticipated, COVID-19 has hit the online lender hard. According to the company, during the quarter loan originations came in at $325.8 million, down 90% year-over-year. LendingClub’s net revenue during the quarter was down 77% year over… Read More

August 4, 2020 @ 2:58 pm By Samantha Hurst  |  

Small business funding platform Biz2Credit announced on Tuesday its new Small Business Financial Health Survey, a study of primary data from 300 small business owners who received funding through the U.S. government’s Paycheck Protection Program (PPP), revealed year-over-year second quarter revenues of small business owners… Read More