Tagged: online lending

May 8, 2018 @ 10:33 am By JD Alois  |  

Orchard co-founder Matt Burton has emailed industry members stating the previously announced acquisition of his company by SME lender Kabbage has formally closed. The purchase had been rumored for weeks with an official announcement hitting the press at the end of April. Burton stated; “In… Read More

May 7, 2018 @ 11:05 am By JD Alois  |  

The State of New York is may create a new regulatory hurdle, and associated cost, for online lenders. A bill (Senate Bill S8340) sitting in the New York State Senate now, will create a limited state charter for internet lending. Sponsored by New York State… Read More

May 5, 2018 @ 2:56 pm By JD Alois  |  

Recently, CI had the chance to speak to part of the team from Elevate (NYSE: ELVT) – an online lender that is servicing the non-prime market. As most people are aware, a prime borrower has a lot of options in the marketplace from both from traditional financial… Read More

May 3, 2018 @ 8:53 am By Samantha Hurst  |  

Earlier this week, Lendio announced its third annual Top 10 States For Small Business Lending list. According to Lendio, the list’s results were based on lending data from its online lending platform, which matches businesses to nearly 80 lenders. Lendio reported that the key findings… Read More

May 1, 2018 @ 2:05 pm By Samantha Hurst  |  

On Tuesday, CommonBond, an online lending platform servicing the student loan market, released the results of one of the most comprehensive employee financial wellness benefits studies to date. According to the lender, the research revealed the extent to which student debt affects employees’ financial wellness, as well… Read More

May 1, 2018 @ 8:00 am By JD Alois  |  

Online lender BlueVine has secured a $200 million asset-backed revolving credit facility with Credit Suisse. Additionally, the SME focused platform said it has upped its business line of credit to $250,000. Earlier in 2018, BlueVine doubled its invoice factoring credit limit to $5 million. BlueVine’s total… Read More

April 28, 2018 @ 10:45 am By Xu Gao  |  

Financial Inclusion Platform FINUP Plans Public Listing in Hong Kong On April 23, China’s leading financial inclusion platform FINUP filed a listing application for the Hong Kong Exchanges and Clearing Limited (HKEX). According to statistics, FINUP will be the fifth Fintech company from mainland China… Read More

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