Tagged: online lending

June 16, 2020 @ 11:15 pm By JD Alois  |  

InstaReM has announced a new service that helps SMEs in Singapore with their cash flow. The service termed BizPay, utilizes credit limits in corporate cards and converts them into working capital, according to a release from the company. InstaReM, the consumer and SME brand that… Read More

June 16, 2020 @ 10:52 am By Samantha Hurst  |  

Property investment platform CrowdProperty announced on Tuesday it has lent more than £75 million to SME property professionals and has now funded the development of 1,000 homes that were worth almost £170 million, enabling over £60 million of spend on labor, materials, and services in… Read More

June 15, 2020 @ 10:37 am By Samantha Hurst  |  

UK-based banking group and lender Metro Bank is reportedly in advanced talks to purchase p2p lending platform Ratesetter. According to Sky News, the duo has entered into exclusive discussions about the acquisition. Founded in 2010, RateSetter states it offers a “simple and accessible way” to… Read More

June 15, 2020 @ 8:59 am By JD Alois  |  

EstateGuru, a peer to peer lending platform that offers secured loans to SMEs, has appointed Gabriella Kindert to its Supervisory Board as an independent member. The move is described as being in line with the Fintech’s expansion strategy as the company strives to become the… Read More

June 13, 2020 @ 7:05 pm By JD Alois  |  

  dv01 has recently published another report tracking the impact of COVID-19 on the online lending marketplace. dv01 is a top data aggregator tracking the online lending industry. dv01 connects directly with the largest online lenders in the consumer world to, normalizing loan data, providing… Read More

June 12, 2020 @ 6:25 pm By Omar Faridi  |  

David Chan, CEO at Monedo (previously Kreditech), a point of sale (PoS) lender that claims to have more than one million customers who have reportedly received over 2 million loans (as of March 2020), says that the online lender has a global addressable market of… Read More

June 11, 2020 @ 11:41 pm By JD Alois  |  

Marcus, the digital-only bank created by Goldman Sachs (NYSE:GS), is extending its reach further in a new partnership with Amazon (NASDAQ:AMZN). According to CNBC, Amazon merchants, independent sellers using the Amazon marketplace, will be invited to access credit provided by Marcus with rates ranging from… Read More

June 11, 2020 @ 9:29 am By JD Alois  |  

Curve, a Fintech that continues to add new features and products, has issued a statement about Curve Credit – a subsidiary of the parent company that intends on providing online lending for its users. Curve has announced a waitlist for the service that is anticipated… Read More

June 10, 2020 @ 8:22 pm By JD Alois  |  

Peer to peer lenders, Envestio and Kuetzal, have both filed for bankruptcy according to publicly available information. Last January, Crowdfund Insider reported that Envestio and Keutzal were both under duress with some observers calling the online lenders scams. Soon both peer to peer lenders had… Read More

June 9, 2020 @ 10:27 pm By JD Alois  |  

Prospa (ASX: PGL), an online lender serving Australian and New Zealand SMEs, has reported March quarter performance with $122.8 million of total loan originations, up 21.5% on the prior corresponding period, and $37.4 million of revenue – a 13% increase versus the same period the… Read More

June 9, 2020 @ 2:30 pm By Omar Faridi  |  

  Last month, Upgrade, Inc., a Fintech providing consumers access to credit, was named a “Best Place to Work in the Bay Area” by the San Francisco Business Times and Silicon Valley Business Journal. Upgrade was founded by well known Fintech entrepreneur CEO Renaud Laplanche…. Read More

June 7, 2020 @ 10:07 pm By Samantha Hurst  |  

  Pan-European marketplace for short-term SME property-backed loans EstateGuru is set to close its equity crowdfunding campaign on Seedrs with more than €880,000 raised from nearly 1,100 Seedrs investors. Founded in 2013, EstateGuru claims to be the leading European marketplace for short-term, property-backed loans. The… Read More

June 6, 2020 @ 1:55 pm By JD Alois  |  

OnDeck (NYSE: ONDK), an online lender serving SMEs, has received a notice from the New York Stock Exchange (NYSE) as the company does not meet the continued listing standard that requires OnDeck to maintain a minimum average closing price of $1.00 per share over a… Read More

June 5, 2020 @ 2:08 pm By Samantha Hurst  |  

TomoChain, a Singapore-based cryptocurrency exchange platform, is reportedly set to launch a new peer-to-peer lending feature this weekend through its newly launched TomoDEX platform. Founded in 2017, TomoChain claims to be the “most effective” platform for the token economy. The platform reported that its mission… Read More

June 4, 2020 @ 3:51 pm By JD Alois  |  

OnDeck (NYSE:ONDK), an online lender supporting SMEs, is planning to start originating loans at some point in June. This is according to a recent 8-K filed by the company. Last month, it was reported that OnDeck had hit the pause button on lending as it… Read More

June 3, 2020 @ 7:47 am By Samantha Hurst  |  

UK-based peer-to-peer lending platform Assetz Capital announced on Wednesday it is returning to the Seedrs equity crowdfunding platform for the fourth time to raise a minimum of £500,000. As previously reported, Assetz Capital is described as a provider of alternative funding sources to SMEs and Property… Read More

June 1, 2020 @ 6:21 pm By JD Alois  |  

Last Friday, the Acting Comptroller of the Currency Brian P. Brooks quickly moved to clarify a longstanding point of contention within the online lending industry. Brooks issued a statement regarding the Office of the Comptroller of the Currency’s (OCC) final rule on when a national… Read More

June 1, 2020 @ 5:33 pm By JD Alois  |  

The new 5G mobile technology stands to boost financial inclusion in Asia, according to a prediction distributed by Robocash Group. The online lender says that about 3 million of the unbanked and underbanked will gain access to financial services in both Vietnam and the Philippines… Read More

June 1, 2020 @ 1:51 pm By JD Alois  |  

Funding Circle (LSE:FCH) Global Chief Risk Officer Jerome Le Luel has posted on update on the impact of the COVID-19 pandemic on platform operations. Le Luel said that while the full economic impact of the virus remains unknown and it is too early to predict… Read More

May 29, 2020 @ 11:34 am By JD Alois  |  

The online lending industry has probably suffered more than any other sector of Fintech during the COVID-19 crisis. Borrowers, both businesses and consumers have paused payments in droves. Many individuals have lost their jobs. Businesses have shuttered, some permanently. While many governments have moved swiftly… Read More