Tagged: online lending

April 4, 2019 @ 3:04 pm By Samantha Hurst  |  

SoLo Funds, a peer-to-peer lending platform that provides instant affordable access to loans,  announced on Thursday its new Mastercard integration, which enables users to link their debit bank accounts to the lender’s platform enabling faster, more seamless lending transactions under $1,000. SoLo Funds reported that… Read More

April 4, 2019 @ 7:13 am By JD Alois  |  

Affirm, a Fintech founded by vaunted entrepreneur Max Levchin, has raised a $300 million series F funding. To date, Affirm has raised over $800 million in equity funding. The round was led by Thrive Capital and involved several new investors including Fidelity Management and Research… Read More

April 3, 2019 @ 12:20 pm By Samantha Hurst  |  

OnDeck (NYSE: ONDK), a small business online lending platform, announced earlier this week it has completed the transaction combining its Canadian operations with Evolocity Financial Group (Evolocity), a Montréal-based online small business lender. According to OnDeck, the transaction combines the local operations, technology and Canadian… Read More

March 31, 2019 @ 9:12 pm By Samantha Hurst  |  

Scotiabank announced last week the launch of its new digital mortgage experience, Scotiabank eHOME. Scotiabank reported with Scotiabank eHOME, Canadians may apply for a mortgage completely online, track the application status through real-time updates, and complete the closing with a lawyer without requiring an in-person… Read More

March 30, 2019 @ 3:36 am By JD Alois  |  

LendingClub (NYSE:LC) has posted a notice that two high-profile board members have submitted notice they will not stand for re-election. Both John J. Mack and Mary Meeker have decided to depart LendingClub’s Board. Mack is one of the best-known names on Wall Street. The veteran… Read More

March 29, 2019 @ 8:36 am By Samantha Hurst  |  

Prosper, a leading peer-to-peer lending platform connecting borrowers and investors, has released the financial results for the full year ended December 31, 2018. Financial highlights include: Total Net Revenue, which includes the non-cash impact related to warrants to purchase preferred stock, decreased to $104.4 million… Read More

March 27, 2019 @ 5:46 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Direct Lending Investments (DLI), LLC with “a multi-year fraud.” According to the SEC, the ongoing fraud resulted in approximately $11 million in “over-charges of management and performance fees to its private funds, as well as the inflation… Read More

March 26, 2019 @ 11:26 am By Samantha Hurst  |  

Mortgage marketplace lender LendingHome announced on Tuesday it has completed its first syndicated, revolving securitization of residential transition loans, issuing approximately $208 million of non-rated, asset-backed securities. According to LendingHome, the transaction totaled approximately $219 million in aggregate and was structured with a two-year revolving… Read More

March 26, 2019 @ 9:32 am By JD Alois  |  

Lending Express is a Fintech on a mission to become the leading site for SME lenders – globally. Lending Express has offices in both the US and Israel, which has a hot Fintech sector. To date, the site has helped to fund over $125 million… Read More

March 22, 2019 @ 1:41 pm By Samantha Hurst  |  

Credijusto, an SME lending platform that is based in Mexico, announced on Friday it has closed a credit facility with Goldman Sachs for up to $100 million.  According to Credijusto, The transaction provides the lender with the funding capacity to further expand its lending across… Read More

March 20, 2019 @ 11:50 am By JD Alois  |  

SALT, a crypto-collateralized online lending platform,  has expanded its insurance coverage on digital assets. As of February, SALT’s crime insurance policy covers 100% of collateral assets held in their “deep” cold storage. SALT now has two types of insurance policies. First, there is the Cyber… Read More

March 19, 2019 @ 10:06 pm By JD Alois  |  

Online lender Prospa has reported that loan originations have surpassed $1 billion. Prospa has now delivered the loans to over 19,000 Australian and New Zealand small businesses. The Fintech has also shared its top-level financial numbers. For the year ended 31 December, 2018 loan originations… Read More

March 15, 2019 @ 9:00 am By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Friday it has formed a partnership with China UnionPay Merchant Services Co., Ltd. (China UMS) to develop customized and efficient digital lending solutions to serve small and micro-sized enterprises (SMEs).  PINTEC reported that it will cooperate… Read More

March 13, 2019 @ 2:21 pm By Samantha Hurst  |  

Following its Series C funding round, which secured $1.3 million, Chinese peer-to-peer lending platform Lufax Holding has reportedly increased its total estimated valuation to $39.4 billion. Launched in 2012, Lufax provides professional investment and financial services for SMEs and individual customers. The platform is also… Read More

March 13, 2019 @ 7:38 am By Samantha Hurst  |  

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Wednesday extensions to its existing credit facilities with Credit Suisse and Deutsche Bank on improved terms.  According to OnDeck, the amended facilities provide an aggregate of $360 million of committed funding capacity and are… Read More

March 7, 2019 @ 1:58 pm By Samantha Hurst  |  

Nationwide announced on Thursday it has teamed up with online small business lender BlueVine to offer the fintech’s financing to small businesses through Nationwide’s Business Solution Center. According to Nationwide, small businesses may have access to the online lending platform by applying through the BlueVine… Read More

March 7, 2019 @ 8:07 am By Samantha Hurst  |  

Online lending platform Funding Circle announced on Thursday its plans to enter the Canadian market and expand access to fast, affordable and transparent financing for Canadian small businesses. The lender revealed it will establish operations in Canada in the second half of 2019 with an office located… Read More

March 4, 2019 @ 12:47 pm By Samantha Hurst  |  

Peer to peer property lender CrowdProperty announced on Monday the launch of its new autoinvest product, which is supposed to help investors diversify quickly and easily without a platform or financial advisor fees. According to CrowdProperty: “CrowdProperty AutoInvest is a stress-free way to invest money across… Read More

March 3, 2019 @ 8:13 pm By Samantha Hurst  |  

UK-based peer-to-peer lending platform Assetz Capital reported last week that its 90-day Access Account secured £10 million during the first week of launch.  According to AltFi, Assetz Capital’s Access Account targets returns of 5.75% a year, adds that investors can also take advantage of 1%… Read More

March 1, 2019 @ 9:47 am By Samantha Hurst  |  

Private lending syndication platform CrowdOut Capital announced on Thursday it has provided a $4.75 million term loan to Precision Opinion, a market research companies in the U.S. that provides insights for political organizations and social science agencies using Computer Assisted Telephone Interviewing technology. While sharing… Read More