Tagged: online lending

June 19, 2017 @ 5:29 pm By Samantha Hurst  |  

Kroll Bond Rating Agency (KBRA) announced on Monday it has assigned preliminary ratings to three classes of notes issued by Marlette Funding Trust 2017-2. This is a $322.7 million consumer loan ABS transaction that is expected to close on June 29th. Marlette, which was founded… Read More

June 17, 2017 @ 7:33 am By Samantha Hurst  |  

Zopa announced on Thursday its IFISA is now available for all existing Zopa customers. Along with the IFISA, the online lender unveiled its latest peer-to-peer investment product, Zopa Core. While sharing details about the IFISA, Zopa revealed: “It’s here! From today, existing investors can subscribe… Read More

June 16, 2017 @ 10:27 am By JD Alois  |  

A report from Bloomberg this week takes certain online lending platforms to task regarding the fact that some online lenders are not verifying income status.  The report also says that even if there are errors in loan applications the loan may still be approved. More… Read More

June 15, 2017 @ 1:00 pm By Samantha Hurst  |  

Riga-based 4finance Holding S.A., a large online and mobile consumer lending group, announced on Thursday it has achieved a five star Trustpilot rating and an average 9.4 rating from nearly 4,000 reviewers from Denmark and Poland. According to 4finance, which recently reported that its online customer base has… Read More

June 13, 2017 @ 4:42 am By Erin Hobey  |  

WiseAlpha, a UK online lending platform that gives everyday investors access to high yield institutional bond and loan investments, has raised over £909K on its Crowdcube, 180% over its original target, with days remaining. Originally offering 8.92% equity, WiseAlpha has taken it up a notch, offering 12.43%.  The… Read More

June 9, 2017 @ 12:10 pm By JD Alois  |  

Flipkart, one of the largest e-commerce platforms in India sales topping $2 billion each year, is getting into Fintech. Just like all other e-commerce platforms the combination of providing credit to customers is just too compelling of a business to pass up. Flipkart states that… Read More

June 8, 2017 @ 9:42 pm By JD Alois  |  

Amazon (NASDAQ:AMZN) announced today that it had originated over $3 billion in loans to more than 20,000 small businesses since 2011. One billion of those loans came in the past 12 months. Peyush Nahar, VP for Amazon Marketplace, released a statement on the milestone; “We… Read More

June 5, 2017 @ 7:15 am By JD Alois  |  

Kuber Inc, a Southern California based Fintech company, has launched it’s personal finance product targeting the more than 22 million university students in United States. Fluid App is now live on Apple iTunes store and free to download. This is first of its kind finance… Read More

June 1, 2017 @ 9:13 am By JD Alois  |  

Wellesley has entered a period of retrenchment as CFO Alasdair Lenman has departed the company after less than a year on the job. The Wellesley Group consists of Wellesley & Co Ltd, Wellesley Finance Plc and Wellesley Group Investors Ltd. The peer to peer lender made several announcement’s last… Read More

May 31, 2017 @ 1:56 pm By Therese Torris  |  

Gregoire de Lestapis has left traditional banking, most recently the direction of BBVA France, for the world of fintech entrepreneurship. In 2016, he joined Lendix, the French SME lending group, as head of its Spanish subsidiary and member of the executive team. In this interview,… Read More

May 31, 2017 @ 10:53 am By JD Alois  |  

Elevate Credit, Inc. (NYSE: ELVT), a provider of online credit solutions for non-prime consumers, has announced their Elastic product has surpassed $200 million in total principal outstanding, with more than 120,000 open accounts. Elevate has originated $4 billion in non-prime credit to more than 1.6 million… Read More

May 30, 2017 @ 7:39 am By JD Alois  |  

Banco BNI Europa, a Lisbon based digital only banking group, has announced a strategic agreement with Raize, Portugals largest peer to peer lender. Banco BNI Europa will invest €10 million to boost SME lending via Raize over the next two years. The announcement by the… Read More

May 25, 2017 @ 3:50 pm By JD Alois  |  

Online lender Earnest has closed $175 million in refinanced student loans. The offering received a AA rating on the senior notes by DBRS which is one notch below the highest attainable rating of AAA. Earnest said the transaction was oversubscribed by 3X and traded at… Read More

May 24, 2017 @ 7:56 pm By JD Alois  |  

Orchard is out with their quarterly report and it is pretty interesting. As most people in the online lending industry know, this sector of finance has been going through a bit of a transition in recent months. Orchard has direct access to origination volume to… Read More

May 23, 2017 @ 9:02 am By JD Alois  |  

Austrian Fintech startup Credi2 GmbH, operating under the brand cashpresso, has received recognition as the Best Fintech Startup 2017 as part of the Banking and Insurance Summit held in Berlin, Germany this week. According to cashpresso, this year approximately 120,000 customers evaluated the 184 participating… Read More

May 22, 2017 @ 9:19 pm By JD Alois  |  

Last week, Crowdfund Insider referenced a report in Bloomberg that Earnest was looking for buyers as it struggled to raise new funds. A company representative has now stated that Earnest is not looking to sell the company. The spokesperson said; “The securitization effort isn’t shelved…. Read More

May 22, 2017 @ 9:05 am By JD Alois  |  

Payoff has formed a partnership with Chicago-based Alliant Credit Union to help consumers eliminate high interest rate credit card debt. Payoff is an online consumer lender that claims some pretty high profile investors including; Anthemis Group, Tencent, Mohamed El-Erian, and Joe Saunders, former Visa chief executive…. Read More

May 22, 2017 @ 8:39 am By Erin Hobey  |  

WiseAlpha, a UK online lending platform that gives everyday investors access to high yield institutional bond and loan investments, has raised over £627,000 on its Crowdcube return in just 7 days, coming in at 125% over its original target. More than 433 investors have invested in return… Read More

May 18, 2017 @ 3:52 pm By JD Alois  |  

Online lender PaySense has raised $5.3 million in a Series A funding round led by Jungle Ventures. PaySense, based in India, allows consumer unsecured loans. Founded in 2015 and based in Mumbai, Paysense seeks to solve the fundamental problem of not having simple, convenient and… Read More

May 16, 2017 @ 10:59 pm By JD Alois  |  

According to a report by Bloomberg, Earnest is up for sale. The San Francisco based online lender is said to have an asking price of $100 million. Founded in 2013, Crunchbase reports Earnest has raised over $99 million not including an undisclosed sum in a… Read More