Tagged: online lending

April 26, 2018 @ 10:30 pm By JD Alois  |  

PeerStreet is an award-winning real estate investment platform that wants to enable a far wider audience to invest in real estate debt. The company provides investments in short term, real estate backed loans – an asset class that has traditionally been difficult to access for… Read More

April 25, 2018 @ 2:01 pm By JD Alois  |  

LendingClub (NYSE:LC), the largest marketplace lending platform in the US, has posted a response to a US Federal Trade Commission (FTC) complaint that was launched in 2016. In brief, LendingClub had this to say: “We do not agree and are very disappointed that it was… Read More

April 24, 2018 @ 11:50 am By Samantha Hurst  |  

Online lending platform for small business OnDeck announced last week the closing of a $100 million asset-backed revolving credit facility with Pioneers Gate LLC, a lending vehicle of a life insurance company managed by 20 Gates Management. According to OnDeck, the new facility provides the longest revolving funding… Read More

April 24, 2018 @ 7:06 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) says that loan fee scams is now the most common scam in financial services topping investment fraud. The shift is largely due to the emergence of online lending as victims are targeting while searching for loans on the internet…. Read More

April 23, 2018 @ 7:50 pm By JD Alois  |  

This announcement certainly will benefit the growth of Lendix, a leading European online lender. According to the Fintech, the Lendix community of lenders now benefits from the Italian State Guarantee or the “Fondo di Garanzia” for loans made in Italy. This federal guarantee will partially cover… Read More

April 23, 2018 @ 8:54 am By JD Alois  |  

INVioU is a blockchain-based platform for invoice and credit finance management. The platform seeks to enable “minimal-risk streamlined collections and fully automated loan obtainment processes within the global community.” Founded by CEO Dror Shapira (son of Israel’s State Comptroller, Yosef Shapira) and Yair Zehavi, CPO of… Read More

April 19, 2018 @ 5:12 pm By JD Alois  |  

PeerIQ has just published their quarterly marketplace lending securitization tracker. The periodic report gauges activity in the online lending sector providing an interesting barometer of industry sentiment and investor activity. The most recent report stated that PeerIQ has observed an “unprecedented 21 months of non-stop… Read More

April 19, 2018 @ 8:50 am By Samantha Hurst  |  

Online lending platform LendInvest announced on Thursday it is putting the UK government “on notice” to improve access to finance for property SMEs by forging better partnerships with the alternative finance industry.  LendInvest reported that in a new report entitled Putting Finance First: the alternative route to… Read More

April 19, 2018 @ 8:28 am By Samantha Hurst  |  

China-based consumer finance platform LexinFintech announced on Thursday it is planning to invest a total of ¥1 billion in partner cooperations over the next three years in order to better save its customers and expand its credit services. According to LexinFintech, Jay Wenjie Xiao, the company’s… Read More

April 18, 2018 @ 8:30 pm By JD Alois  |  

The Singapore Fintech Association (SFA) has announced the creation of a Marketplace Lending committee and website. This is in response to the rapid growth in the sector, according to the SFA. The subcommittee will be dedicated to ensuring the local online lending industry is a trusted,… Read More

April 18, 2018 @ 4:10 pm By JD Alois  |  

Tala has closed on a $50 million Series C equity investment led by Revolution Growth with participation from existing investors IVP, Data Collective, Lowercase Capital, Ribbit Capital, and Female Founders Fund. Separately, Tala said it has also recently raised $15 million for its loan book…. Read More

April 18, 2018 @ 12:05 pm By JD Alois  |  

Goldman Sachs CEO Lloyd Blankfein told CNBC today they have not “lost their minds” by moving into the highly competitive consumer banking business with Marcus. Blankfein explained that the consumer business has moved to them because the digital world can allow them to scale. “If… Read More

April 18, 2018 @ 10:03 am By JD Alois  |  

Lendingblock, an interesting spin on cryptocurrency lending, has easily hit its initial coin offering target (ICO) hard cap of $10 million early. The LND coin will be used as the currency for payment and receipt of interest on the platform. As CI covered last month,… Read More

April 17, 2018 @ 11:36 am By Samantha Hurst  |  

UK-based peer-to-peer lender Landbay is set to close its latest equity crowdfunding campaign on Seedrs later this evening with more than £1.6 million from nearly 285 investors. The funding round was launched last month and quickly secured its initial £1.25 million funding target. This is the seventh equity… Read More

April 17, 2018 @ 8:22 am By JD Alois  |  

BondMason is out with their DIrect Lending Report that indicates that between 2016-2017, mid-sized online lending platforms increased their potential to compete, growing their market share by approximately 50% to £1.6 billion. Large platforms, meanwhile, grew their share by only approximately 6%. BondMason stated the… Read More

April 13, 2018 @ 3:00 pm By Samantha Hurst  |  

UK-based peer-to-peer lender Lending Works announced this week it surpassed £100 million in online lending. According to Lending Works, the milestone comes just a little over a year after the platform surpassed £50 million. The lender also reported that 20,000 customers (over 16,000 borrowers and nearly 4,000 lenders)… Read More

April 13, 2018 @ 12:00 pm By Samantha Hurst  |  

Online lending for small business OnDeck (NYSE: ONDK) announced this week that it has priced $225 million initial principal amount of Series 2018-1 Fixed Rate Asset-Backed Notes in a private securitization transaction. According to OnDeck, the notes will be issued in four classes and were priced with a weighted average… Read More

April 12, 2018 @ 4:54 pm By JD Alois  |  

LendingClub (NYSE: LC), has selected  Bahman Koohestani to serve as the company’s Chief Technology Officer. Koohestani was most recently with Clarivate Analytics, where he served as Chief Technology Officer. Prior to Clarivate Analytics, Bahman was Executive Vice President and Chief Technology Officer of shopping site NexTag where… Read More

April 12, 2018 @ 2:00 pm By Samantha Hurst  |  

UK-based peer-to-peer lender Landbay announced on Thursday it is set to close its latest equity crowdfunding round on Seedrs next Tuesday (April 17th). The campaign quickly secured its initial £1.25 million and has successfully raised more than £1.4 million thanks to over 250 investors. As previously reported, Landbay was… Read More

April 10, 2018 @ 12:01 am By JD Alois  |  

Upgrade, Inc.  has announced a new consumer product entitled “Personal Credit Line.” The new product was revealed during the annual LendIt Fintech conference in San Francisco. The line of credit is designed to combine the low cost, fixed rate and monthly amortization of personal loans… Read More