Tagged: online lending

September 27, 2017 @ 1:25 pm By JD Alois  |  

Funding Societies, Singapore’s and Southeast Asia’s SME crowdfunding platform, has announced the launch of its new chatbot “Miyu”. This is described as the first such chatbot created by a crowdfunding company in Southeast Asia. Miyu was jointly developed by two Singapore Management University interns at… Read More

September 27, 2017 @ 11:59 am By Samantha Hurst  |  

On Wednesday, online lending platform Funding Circle announced its FY results for the year, ending December 31, 2016. While sharing details about the results, Samir Desai, CEO at Funding Circle, stated:  “2016 was another record breaking year for Funding Circle. We were pleased to achieve our… Read More

September 26, 2017 @ 3:39 pm By JD Alois  |  

June Ou, SoFi’s CTO and VP of Engineering, will depart the online lender. The move is not completely unexpected as Ou is also the wife of ousted founder Mike Cagney who ignominiously left the firm under a cloud opprobrium. Reuters first reported the news last… Read More

September 25, 2017 @ 10:49 am By Samantha Hurst  |  

Lending app MicroMoney recently announced plans to raise $30 million through its upcoming Initial Coin Offering (ICO), which will launch next month. Founded in 2015, Micro Money describes itself as a company that is focused on micro-financing in the online money lending industry and states that… Read More

September 22, 2017 @ 9:12 pm By Xu Gao  |  

China Takes Strict Control Over Consumer Credit, Forbidding it to Enter the Real Estate Market It is reported on September 20th that the Guangzhou branches of PBOC and CBRC have jointly issued a statement about consumer credit regulation, forbidding it to enter the real-estate market…. Read More

September 22, 2017 @ 12:01 pm By JD Alois  |  

Elevate (NYSE: ELVT) is out with a report stating that members of Generation-X, the rapidly aging population that followed the Boomers, born between 1965 and 1980, are facing economic challenges that constantly keep them off balance. Yes, Baby Boomers do suck. They Hoovered up all of… Read More

September 22, 2017 @ 8:49 am By Samantha Hurst  |  

Prosper announced on Thursday it has secured a $50 million Series G investment from an investment fund co-managed by FinEX Asia. The online lender revealed that the investment brings its total equity raised to $410 million to date and it will be used to make strategic investments in… Read More

September 21, 2017 @ 11:22 am By Samantha Hurst  |  

On Wednesday, Lending Works announced as of Monday, it five-year lender rate has increased to 5.5%, which is considered the highest level it has reached since August 2016. The company revealed that the reason for the rate increase is due to the fact that it has… Read More

September 21, 2017 @ 11:05 am By Samantha Hurst  |  

LendInvest announced on Thursday it has appointed former Aldermore Bank Head of Commercial Mortgages, Ian Boden, as its new Sales Director. According to the online lender, Boden joins its team with more than 35 years of experience in financial services, buy-to-let, and commercial mortgages.  Prior… Read More

September 21, 2017 @ 8:54 am By JD Alois  |  

China is the biggest kid on the block when it comes to the emerging alternative finance market in the Asia Pacific region. In fact, China has the largest alternative finance market in the world driven by a fast growing economy, a highly connected population via… Read More

September 20, 2017 @ 10:03 am By Samantha Hurst  |  

LendUp, a socially responsible online lender on a mission to redefine financial services for the emerging middle class, announced on Wednesday it has appointed Jotaka Eaddy as its new Vice President of Policy, Strategic Engagement, and Impact. Eaddy previously served as LendUp’s Head of Government Affairs…. Read More

September 19, 2017 @ 4:19 pm By Therese Torris  |  

Younited Credit, the Paris-headquartered consumer lender announced a capital increase of €40 million subscribed by a panel of the top of the crop growth investors in France. Next to its historical shareholders, Eurazeo, Crédit Mutuel Arkema, AG2R La Mondiale and Weber Investissements which are already… Read More

September 18, 2017 @ 10:07 am By Samantha Hurst  |  

Less than a month after Funding Circle announced the new versions of its existing Autobid and Autosell lending tools, the online lender revealed the new changes have officially gone into effect. It was revealed in a blog post on Monday: “Last month we announced plans… Read More

September 17, 2017 @ 12:28 pm By JD Alois  |  

In a recent post on Bondora, the Estonian peer to peer lender, the company announced that it had surpassed €100 million in loan originations. As Bondora states, the platform has now lent €102 million, paying out €15 million in interest to 28,541 investors. Bondora has also reached cash… Read More

September 16, 2017 @ 10:46 am By JD Alois  |  

Ezubao executives are looking at doing some hard time following the conclusion of proceedings at Beijing No. 1 Intermediate Peoples Court. Ezubao maintains the ignominious record of the largest peer to peer lending fraud ever. The Ponzi scheme has been estimated at pilfering over $7.7… Read More

September 15, 2017 @ 10:04 am By JD Alois  |  

Peer to peer lender Assetz Capital is reporting it has seen a year-on-year increase of 175% in the number of property development projects funded around the UK. The online lender says this rise comes following sustained growth in the funding pool for property developments, as investors… Read More

September 13, 2017 @ 8:43 pm By JD Alois  |  

Additional details have been reported surrounding the planned departure of one of the most prominent Fintech CEOs in the world. NYT.com has published a report on the “Frat House” like environment that existed at SoFi with CEO Mike Cagney reportedly being a prime offender. The… Read More

September 13, 2017 @ 8:42 am By JD Alois  |  

Wish Finance, based in Singapore, has announced the launch of its blockchain-based lending platform for small and medium businesses. The company has reportedly issued 100+ loans in 2017 during a soft launch with every loan successfully repaid and 0% default rate. Wish Finance plans to… Read More

September 12, 2017 @ 4:15 pm By JD Alois  |  

SoFi co-founder and CEO Mike Cagney has announced he will resign from SoFi at the end of this year. In a message to SoFi employees last night, Cagney said it was with “heavy heart” he will depart the iconic firm he founded. The announcement comes… Read More

September 12, 2017 @ 10:14 am By JD Alois  |  

  Orchard Platform has rolled out Deals, operated by Orchard Platform Markets, LLC, a wholly-owned subsidiary, SEC-registered broker-dealer, and member of FINRA and SIPC. Deals is a global market where loan originators may discover low cost financing and institutional investors can connect, evaluate, and move… Read More