Tagged: online lending

August 24, 2017 @ 10:52 am By JD Alois  |  

The Future of Banking is Blockchain and Hero Wants to be the One Hero, part of the PawnHero online lending platform, is preparing an Initial Coin Offering (ICO). You may read the white paper in English here.  PawnHero is an already successful secured lending platform… Read More

August 24, 2017 @ 8:52 am By JD Alois  |  

Suretly quickly topped its minimum funding goal of $1.5 million in its Initial Coin Offering (ICO) and now stands at over $2.9 million. The service descirbes itself as Tinder for Loans and is an online exchange for micro-loan guarantees. SUR tokens issued by the company will… Read More

August 24, 2017 @ 7:21 am By JD Alois  |  

Assetz Capital, a UK based peer-to-peer lending platform, has announced another milestone. Today the platform has shared that investors in aggregate have earned gross returns of more than £25 million on their investments in approximately four years. Assetz Capital says lenders earned an average of… Read More

August 23, 2017 @ 4:08 pm By JD Alois  |  

Zopa, the first peer to peer lender to set up shop in the UK, has filed its annual accounts for 2016, and according to their numbers business is looking better. Top line revenue improved by 61% jumping to £33.2 million for 2016. The operating loss… Read More

August 22, 2017 @ 8:43 am By JD Alois  |  

RiverNorth is out with an encouraging note on its fund that invests in marketplace lending platform loans. As of the end of July 2017, RiverNorth’s portfolio consisted of 10,173 loans, with an average loan size of $10,176. The RiverNorth Marketplace Lending (NASDAQ:RMPLX) is designed to provide… Read More

August 21, 2017 @ 3:15 pm By JD Alois  |  

Last week, Funding Circle celebrated seven years of operation. Launched in August of 2010, three friends from university concocted the concept of peer to peer lending in support of UK SMEs. That first year of operation saw a mere £2 million in loans originated. Today,… Read More

August 21, 2017 @ 1:07 pm By Samantha Hurst  |  

Australia-based online lender SocietyOne announced on Monday it is celebrating its five-year anniversary of helping customers achieve their lending needs. This celebration comes less than two months after the lending platform surpassed $300 million in total originations. The lender revealed that more than 13,000 customers thanks… Read More

August 21, 2017 @ 9:03 am By Samantha Hurst  |  

On Monday, Funding Circle announced it is set to launch a new version of its existing Autobid and Autosell lending tools. Funding Circle will be eliminating the option to manually choose which businesses an investor may lend to and which loan parts to sell will be… Read More

August 19, 2017 @ 4:17 pm By Samantha Hurst  |  

On Friday, P2P lending platform RateSetter announced it has withdrawn from the Peer-to-Peer Finance Association (P2PFA). This news comes less than a month after the online lender was hit with a series of significant operational challenges as several large loans have struggled. RateSetter stated; “Following our… Read More

August 17, 2017 @ 11:17 pm By JD Alois  |  

Singapore has worked hard to gain, and retain, the crown of Asian Fintech Hub and you can guarantee it won’t give it up without a fight. There are several countries that are in the race. Recently both Australia and Hong Kong have staked a claim… Read More

August 16, 2017 @ 9:35 am By JD Alois  |  

Former Wells Fargo digital marketing executive Alan Gellman has joined multi-lender marketplace Credible as Chief Marketing Officer. Most recently, Gellman was Esurance CMO and will now be Credible’s first CMO. While at Esurance, a self-directed insurance platform, Gellman was named one of “The 50 Most Innovative… Read More

August 15, 2017 @ 8:57 am By JD Alois  |  

Singapore based Funding Societies has become the first peer-to-peer lending platform to become a member of the International Association of Credit Portfolio Managers (IACPM), a prestigious forum for credit risk management. Funding Societies also reported that risk expert Terry Tse has joined the online lender’s… Read More

August 15, 2017 @ 8:07 am By JD Alois  |  

Peer to peer lender ThinCats has facilitated a £2.4 million loan for the Academy of Contemporary Music (ACM) as part of a growth initiative by the Academy. Founded in 1997 to provide higher education courses for students in the contemporary music and arts arena, ACM… Read More

August 14, 2017 @ 1:49 pm By JD Alois  |  

Prosper Marketplace, a leading marketplace lending platform, has reported improved numbers for the second quarter.  Prosper has shared that it generated positive operating cash flow for the quarter and originations rocketed up 74% year over year. Prosper said they experienced strong demand for its personal… Read More

August 14, 2017 @ 11:14 am By JD Alois  |  

Back in May, Crowdfund Insider reported that Earnest, an online lender providing personal loans, was up for sale. Referencing a report in Bloomberg, the rumor was quickly squashed by Earnest representatives who told this publication they were absolutely not for sale. Additionally, a reported securitization… Read More

August 12, 2017 @ 12:31 pm By Xu Gao  |  

China Sets up Centralized Clearing Platform for Online Payments The People’s Bank of China, the country’s central bank, has required all banks and third-party payment institutions to connect to a unified platform by June 30 of 2018 to ensure effective regulation and transaction security. The… Read More

August 11, 2017 @ 4:13 pm By Samantha Hurst  |  

On Friday, online lender Zopa announced an update on its loan sale pricing. The lending platform reported that it has made some changes to how it works out the value of loans for more accurate pricing. But, due to technical issues, some investors may have paid… Read More

August 11, 2017 @ 12:49 pm By JD Alois  |  

PayPal has acquired Swift Financial (not to be confused with Swift the global banking messaging platform). The purchase will buttress PayPal Working Capital, a lending segment of PayPal that provides SMEs access to capital. Headquartered in Delaware, Swift Financial was established in 2006 to provide… Read More

August 11, 2017 @ 7:55 am By JD Alois  |  

LendingClub‘s (NYSE:LC) CIO has posted an update on the online lenders performance including some perspective into the LendingClub model. The executive explains that part of the power of the marketplace lending model is the iterative nature of the loan making process. Over time, data generated… Read More

August 10, 2017 @ 5:39 pm By Samantha Hurst  |  

On Thursday, online lender Funding Circle announced it is revamping its platform by offering a new look and feel. The lending portal also announced its new motto, Made to Do More. It was revealed: “Since  2010, we’ve been proudly helping small businesses (32,000 and counting!)… Read More