Tagged: online lending

July 27, 2020 @ 9:30 am By Samantha Hurst  |  

Digital asset exchange Bitfinex announced on Monday it will be launching its peer-to-peer lending tool, Lending Pro, in the first week of August. According to Bitfinex, the new tool will be providing users with an advanced lending tool designed to automate lending in order to… Read More

July 25, 2020 @ 3:05 pm By Omar Faridi  |  

Peer to peer (P2P) lending platform managers have different predictions or expectations about how Innovative Finance ISA (IFISA) inflows will perform during this tax year in the United Kingdom. David Bradley-Ward, CEO at Ablrate, an asset-backed lending platform, claims that net inflows on the platform… Read More

July 24, 2020 @ 6:04 pm By Omar Faridi  |  

London-based Selina Finance, an online lender that provides secured home equity loans at competitive rates, has secured £42 million in capital through a Series A funding round. The funding reportedly includes £12 million in equity from Picus Capital and Global Founders Capital and £30 million… Read More

July 24, 2020 @ 8:20 am By Samantha Hurst  |  

Property investment platform CrowdProperty announced earlier this week it has lent £80 million to SME  developers – funding the development of 1,000+ homes worth over £170 million. This news comes just a little over a month after CrowdProperty surpassed £75 million in lending.  Founded in… Read More

July 23, 2020 @ 8:23 am By Samantha Hurst  |  

Folk2Folk, a unique peer to peer lending firm that focuses on rural businesses, announced on Thursday its new partnership with institutional digital debt marketplace CrossLend as it continues to build its institutional investor-base. The collaboration comes just after Folk2Folk received accreditation approval for CBILS Coronavirus… Read More

July 23, 2020 @ 8:17 am By JD Alois  |  

  Payment Fintech Lemonway has been enlisted by EstateGuru to facilitate its expansion across Europe. EstateGuru is a marketplace matching property-backed loans with individual investors. EstateGuru is working on “developing a digital and borderless ecosystem for real estate financing and investing in Europe and beyond.”… Read More

July 16, 2020 @ 10:55 pm By Omar Faridi  |  

Robo.cash has revealed that peer-to-peer (P2P) investors on its platform have increased the size of their initial investments despite the COVID-19 outbreak and resulting economic challenges. The European P2P lending platform has reported that the first investment made by investors increased from £822 to €909… Read More

July 16, 2020 @ 10:25 pm By Samantha Hurst  |  

LendingPoint, a data and technology platform dedicated to democratizing credit and accelerating commerce,  announced on Wednesday the launch of its Lending Operating System (LOS), SDKn, which creates an instant consumer credit pre-approval platform for businesses of all sizes offering affordable financing options to the widest… Read More

July 16, 2020 @ 8:50 pm By Omar Faridi  |  

The peer to peer lending (P2P) sector in the UK is currently going through one of its biggest challenges ever, because of the COVID-19 outbreak. Jaidev Janardana, CEO at Zopa, believes a large number of Fintech businesses will be forced to shut down during the… Read More

July 16, 2020 @ 8:16 am By JD Alois  |  

EstateGuru is reporting strong results during the first 6 months of 2020. According to a release, the pan-European P2P marketplace for asset-backed loans saw significant year over year growth in revenue of 65% even during the COVID-19 lockdown. Marek Pärtel, co-founder and CEO at EstateGuru,… Read More

July 16, 2020 @ 7:38 am By Samantha Hurst  |  

  Celsius Network, a cryptocurrency lending and borrowing platform, announced on Wednesday it reached its extended fundraising goal of $17,000,000 in partnership with BnkToTheFuture. According to Celsius Network, more than 700 qualified investors from all over the world have already participated in the round since June…. Read More

July 15, 2020 @ 8:01 am By Samantha Hurst  |  

  Small business funding platform Biz2Credit announced on Tuesday its latest Biz2Credit Small Business Lending Index revealed the approval percentage for small business loan applications at big banks ($10 billion+ in assets) rebounded from just 11.5% in May to 13.5% in June. According to the Index,… Read More

July 12, 2020 @ 11:21 pm By Samantha Hurst  |  

UK-based peer-to-peer lending platform Assetz Capital is set to close its fourth equity crowdfunding campaign on Seedrs with nearly £700,000 raised from close to 600 Seedrs investors. The funding round was launched last month to raise a minimum of £500,000.  As previously reported, Assetz Capital… Read More

July 12, 2020 @ 3:02 pm By JD Alois  |  

Yesterday, Crowdfund Insider reported on layoffs at OnDeck (NYSE:ONDK) – an SME focused online lender. Like many online lenders, COVID-19 has hit this sector of Fintech hard. Looking for additional insight into the challenges the industry CI reached out to an industry insider for their perspective… Read More

July 11, 2020 @ 10:24 am By JD Alois  |  

OnDeck (NYSE:ONDK), an online lender serving SMEs, is said to be laying off employees in the midst of a challenging market due largely to the COVID-19 crisis. There have been multiple reports regarding OnDeck’s struggle to keep the Fintech afloat. Last June, OnDeck received a… Read More

July 10, 2020 @ 2:44 pm By Samantha Hurst  |  

Online lending platform Lendio announced on Friday the winners of a $200,000 grant program aimed at helping its small business customers recover from economic hardship caused to the global COVID-19 pandemic. Lendio reported that Through the program, 23 small business owners have been selected to… Read More

July 9, 2020 @ 12:50 pm By JD Alois  |  

Upgrade is a consumer online lender and emerging digital bank that recently announced a significant funding round that gave the Fintech a $1 billion valuation. Founded by Renaud Laplanche, this is the second Fintech he has founded that moved into the unicorn realm the first… Read More

July 9, 2020 @ 9:53 am By Samantha Hurst  |  

UK-based challenger bank Tide announced this week it has paused its bounce back loan lending and closed its waiting list. In April 2020, Chancellor Rishi Sunak announced the lending scheme, which added to the existing support of small businesses that are affected by the COVID-19… Read More

July 8, 2020 @ 9:42 am By JD Alois  |  

In a speech today entitled “Plan for Jobs” by the Chancellor of the Exchequer Rishi Sunak, he announced the elimination of the Stamp Duty at a certain threshold in a move to improve the UK housing market. The Chancellor explained: “… to catalyse the housing… Read More

July 8, 2020 @ 9:15 am By JD Alois  |  

Funding Circle (LSE:FCH) has posted an update on its participation and support of COVID-19 relief programs. Funding Circle is facilitating programs in both the US and UK. The SME online lender is participating in the British Business Bank’s (BBB) Coronavirus Business Interruption Loans Scheme (CBILS) and… Read More