Tagged: online lending

September 8, 2019 @ 4:33 pm By Omar Faridi  |  

The initial coin offering (ICO) craze of 2017 and early 2018 helped generate billions of dollars for blockchain startups throughout the world. However, many ICO projects were scams or did not lead to the development of useful products. London-based Celsius is among the very few… Read More

September 8, 2019 @ 10:22 am By Omar Faridi  |  

For the first time ever, giant Wall Street investment bank Goldman Sachs’ (NYSE:GS) structured finance division is providing a $100 million secured credit facility to Mexico-based Fintech startup Konfio Ltd. The funds will be directed toward Konfio’s business operations, which include providing unsecured working capital… Read More

September 8, 2019 @ 8:33 am By Omar Faridi  |  

Fintech firms that originally offered loan originations and pure-play credit marketplaces are now looking to become lenders themselves. Some of these firms have either applied for or have received a non-banking finance company (NBFC) license from the Reserve Bank of India (RBI), according to local… Read More

September 6, 2019 @ 7:43 am By JD Alois  |  

Peer to peer lender Robo.Cash says that beyond loans denominated in Euros, European investors are expressing interest in Ruble denominated loans. This comes at a time when the Ruble has risen against the Euro by 9%. Robo.Cash states that in a survey conducted on the… Read More

September 5, 2019 @ 2:02 pm By Samantha Hurst  |  

Payments platform Stripe announced on Thursday the launch of its new service, Stripe Capital, which allows internet businesses running on Stripe to access funding. According to Stripe, Access to capital remains a challenge for most companies, especially online businesses, with banks deciding to cut their lending to… Read More

September 3, 2019 @ 3:25 pm By Samantha Hurst  |  

UK-based peer-to-peer lender RateSetter announced on Tuesday the launch of its new investment products. The lending platform reported that its goal is to deliver the most consistent returns and the most liquid investment in peer-to-peer investing. RateSetter noted that its delivery of consistent returns is… Read More

August 30, 2019 @ 10:37 pm By Samantha Hurst  |  

Chinese peer-to-peer lending platform Hexindai (NASDAQ: HX) announced on Friday it has made some changes to its management team. Hexindai reported that Johnson Qisen Zhang, the online lender’s CFO, has departed from the company and Kerrie Rui Zhang has replaced Johnson as Hexindai’s new CFO. … Read More

August 30, 2019 @ 8:19 am By JD Alois  |  

Robo.cash, a consumer lender that operates in several European countries as well as Southeast Asia, reports that interest in peer to peer lending in Eastern Europe is increasing. Company analysts claim that the search activity associated with P2P lending in Europe indicates a relative popularity… Read More

August 29, 2019 @ 8:50 pm By Samantha Hurst  |  

Credijusto, an SME lending platform that is based in Mexico, announced on Thursday it secured $42 million through its Series B funding round, which was led by Point72 Ventures and Goldman Sachs with participation from Thomvest Ventures, Wolfson Group, Third Lake Capital and Argo Ventures,… Read More

August 29, 2019 @ 2:31 pm By Samantha Hurst  |  

Celsius Network, a cryptocurrency lending and borrowing platform, announced on Thursday the introduction of compounding interest for crypto holders on its site. According to Celsius Network, members will be able to earn weekly compounded interest on CEL tokens at a rate of 3% per annum…. Read More

August 28, 2019 @ 3:54 pm By Samantha Hurst  |  

Marketplace lending company Funding Circle (LSE:FCH) announced on Wednesday it has completed its first asset-backed securitization (ABS) of US small business loans originated through its platform. According to Funding Circle, a total of $198 million was raised through the securitization, which marks “the debut of… Read More

August 25, 2019 @ 10:08 pm By Samantha Hurst  |  

Australasia’s peer-to-peer lending marketplace Harmoney recently announced it has appointed David Stevens as its new CEO. Harmoney reported that Stevens steps into the CEO role in early 2020. The lender’s founder and current CEO Neil Roberts will step away to focus on strategy and product… Read More

August 18, 2019 @ 9:39 pm By Samantha Hurst  |  

Chinese peer-to-peer lending platform Hexindai (NASDAQ: HX) announced last week its invested Indonesian online lending platform, Musketeer Group, Inc. (Musketeer) has completed registration for its peer-to-peer lending platform with the Indonesian Financial Services Authority (OJK). Hexindai notably acquired a 20% equity stake in Musketeer in… Read More

August 16, 2019 @ 8:55 am By JD Alois  |  

Marketplace lending company Funding Circle (LSE:FCH) is out with a release announcing the platform has now lent over $10 billion since launch in 2010. Funding Circle operates in the UK, Germany, the Netherlands and the US. The London based company is the first peer to… Read More

August 15, 2019 @ 2:20 pm By Samantha Hurst  |  

Fintech unicorn SoFi announced on Thursday the addition of 529 contributions to their SoFi at Work program. According to SoFi, the 529 contributions are inclusive of automated payroll deduction and employer contribution capabilities, as well as a forthcoming selection tool that will provide employees with… Read More

August 15, 2019 @ 10:44 am By JD Alois  |  

Mintos, an online marketplace that aggregates 65 lending companies, is reporting having topped €3 billion in loans financed. The €2 billion hurdle was surpassed in April thus it appears that Mintos is experiencing increasing velocity. Mintos reports that it currently services over 170,000 investors globally…. Read More

August 14, 2019 @ 3:19 pm By JD Alois  |  

Fincera Inc. (OTCQB: YUANF), a China-based peer to peer lending platform providing access to capital for SMEs, has become the target of a local government attempt to shut down P2P lenders. According to a note from Fincera, the Hebei provincial government, where Fincera is based,… Read More

August 14, 2019 @ 1:06 pm By JD Alois  |  

Last week, online lender Funding Circle (LSE:FCH) released its 6-month report and the shares have responded positively to the numbers. Six-month Revenue was reported at £81.4 million versus H1 2018 at £63.0 million – up 29%. Loans under management rose 37% to £3.54 billion and… Read More

August 14, 2019 @ 9:59 am By Samantha Hurst  |  

Lendio Franchising, Lendio’s marketplace lending franchise program, announced on Tuesday it has facilitated $50 million in loans to over 1,800 small businesses around the U.S. According to Lendio, the  loans through the franchise provide a boost to small businesses in industries ranging from healthcare to… Read More

August 13, 2019 @ 2:53 pm By Samantha Hurst  |  

Leading marketplace lending platform Prosper announced on Tuesday the release of its Second Quarter 2019 Financial Results. Prosper reported that during the quarter personal loan originations increased 27% compared to the first quarter of 2019, and the online lender has now generated positive adjusted EBITDA… Read More