Tagged: online lending

January 5, 2017 @ 9:30 am By Samantha Hurst  |  

Funding Circle announced on Thursday that government-owned British Business Bank would begin lending a further £40 million directly to small businesses through the marketplace lending platform. The website confirmed that this news comes less than two years after an initial £40 million investment by the British Business… Read More

December 23, 2016 @ 2:17 pm By Samantha Hurst  |  

With less than two weeks until 2016 comes to an end, Funding Circle took a look back at its marketplace lending platform’s memorable moments of the year. The platform shared: “As the new year approaches, we wanted to take a moment to share with you… Read More

December 22, 2016 @ 5:02 pm By Samantha Hurst  |  

Earlier this week, CEO of online lender SoFi, Mike Cagney, sat down with Caroline Hyde on “Bloomberg Technology” to discuss the platform’s plans for 2017 along with revealing details about the lender’s competitors. SoFi, which was founded in 2011, currently offers various types of lending options…. Read More

December 21, 2016 @ 1:10 pm By JD Alois  |  

Total US revolving debt (think credit cards and more) is nearing $1 trillion. This sector of credit is growing rapidly at around 7% a year. Simultaneously, there is an emerging generation of consumers that is highly mobile, technologically savvy, and extremely skeptical of traditional financial… Read More

December 18, 2016 @ 8:10 am By JD Alois  |  

Fitch shared last week its intent to rate SoFi’s RMBS transaction that included 270 loans with a total balance of approximately $168.79 million. The group of loans consists of prime fixed-rate mortgages originated on the SoFi online lending platform. The presale report was pretty positive… Read More

December 17, 2016 @ 2:59 pm By Samantha Hurst  |  

Earlier this week, fintech firm Even Financial announced it increased loan originations by 205% quarter over quarter since the beginning of 2016 and surpassed $1.5 billion in loan requests. The company has experienced solid growth since it was founded in 2014. Even Financial is aiming… Read More

December 15, 2016 @ 9:40 am By Samantha Hurst  |  

EstateGuru, a peer to peer lender based in Estonia, announced on Thursday its average historic return reached the level 13.4% (since December 2014), which the platform claims to be the highest return among crowdfunding platforms for secured property loans. The online lender’s founder and CEO Marek… Read More

December 14, 2016 @ 11:52 am By Samantha Hurst  |  

  Last week, SoFi, one of the largest online lenders in the US, made a special appearance on the hit talk show The Ellen Show and offered the audience a bit of a surprise. As previously reported, SoFi describes itself as a “modern finance company.” Its mission has… Read More

November 14, 2016 @ 5:16 pm By Samantha Hurst  |  

On Monday, online lender Prosper Marketplace announced its board of directors has named former CFO David Kimball as the new CEO after Aaron Vermut stepped down from the position. Vermut notably served as the CEO of Prosper since March 2014, and the platform reported that he would… Read More

November 8, 2016 @ 9:57 am By Erin Hobey  |  

i2B Capital, a direct financing provider to niche-market financial entrepreneurs, is pleased to announce the closing of a $4 million asset-based revolving line of credit with an accordion to $6 million with CFG Merchant Solutions, a privately owned and operated specialty finance company focused on… Read More

November 4, 2016 @ 11:15 am By Samantha Hurst  |  

On Thursday, European online lender Spotcap announced it is ready to expand into the UK market and will be opening its new London office by the end of the year. Incubated by German investment company Rocket Internet, Spotcap was founded in 2014 and currently offers SMEs credit… Read More

October 27, 2016 @ 8:28 am By Erin Hobey  |  

ReliaMax, a fintech-based and complete private student lending solutions provider, announced the launch of borrower acquisition channel partnerships as part of its Connext Private Student Loans by ReliaMax platform. The inaugural partners include LendingTree, SimpleTuition, Upstart and Student Loan Hero. Borrowers may now access ReliaMax’s Connext… Read More

October 20, 2016 @ 5:13 am By Erin Hobey  |  

US online lenders have quickly seized opportunities to meet demand for more targeted, easy-to-access digital financial services; however, inherent weakness in the online lender business model will likely limit it to a small segment of the market, Moody’s Investors Service says in a report only… Read More

October 13, 2016 @ 5:11 am By Erin Hobey  |  

Greater Hudson Bank (OTCQX: GHDS) has partnered with Sageworks, a financial information company that provides lending, credit risk and portfolio risk solutions to banks and credit unions, to provide an online loan application allowing commercial borrowers to complete applications electronically, according to a release. The Sageworks Online Loan Application is… Read More

October 6, 2016 @ 7:31 am By Erin Hobey  |  

TransUnion (NYSE: TRU) announced the launch of its Fraud Prevention Exchange, an industry collaborative designed to combat online fraud at the Lend360 conference. The Fraud Prevention Exchange will leverage the power of collective data and help lenders face challenges brought on by originations fraud, including synthetic identity and loan stacking. TransUnion… Read More

September 29, 2016 @ 8:06 am By Erin Hobey  |  

Canadian fintech company Lendified Holdings Inc. and its subsidiary and direct lender, Lendified Inc. announced today that their subsidiary Vault Circle Inc. has received an exempt market dealer license from the Ontario Securities Commission (OSC) for its investment business. This marks the achievement of a significant milestone not… Read More

September 28, 2016 @ 6:39 am By Erin Hobey  |  

We’ve been awaiting updates on Marcus, Goldman Sachs’ much anticipated online lending platform named for bank’s cofounder Marcus Goldman which may go live as early as October. Stephen Scherr, Goldman Sachs Global Head of the Financing Group, revealed more about Marcus on Tuesday, reported the WSJ, noting that… Read More

September 23, 2016 @ 10:17 am By JD Alois  |  

Every now and then the Federal Reserve kicks out some interesting research regarding Fintech and alternative finance. During the waning days of summer of 2015, the Federal Reserve of Cleveland published a report on online lending entitled; “Alternative Lending Through the Eyes of Mom &… Read More

September 22, 2016 @ 5:27 am By Erin Hobey  |  

P2P Global Investments and Zopa have teamed up to work on Europe’s first securitization of unsecured consumer loans originated online, reported Bloomberg. The £138M ($179 million) transaction is backed by 27,137 loans to individuals, according to Moody’s Investors Service, with a weighted average seasoning of 10 months and a maximum loan… Read More

September 20, 2016 @ 11:12 am By Samantha Hurst  |  

Cloud Lending Solutions, Crowdnetic, and eOriginal announced on Tuesday the launch of their new collaborated turn-key solution, DigitalLEND. The companies revealed that the new solution allows lenders to move online quickly, and capture market share in the sector: “From online origination to connecting with banks… Read More