Tagged: p2p

Big News for Prosper: Marketplace Lender Signs Agreement for $5 Billion in Loan Purchases from Consortium of Investors

Prosper Marketplace, one of the leading online lenders in the US, has signed an agreement with a group of institutional investors to purchase up to $5 billion in loans over the next 24 months. The agreement alleviates a challenging situation that has been endured by… Read More

Report: P2P Lender Lufax Moving Away from Loans & Into Wealth Management

Lufax, othe largest peer to peer lenders in the world, is pivoting away from the online lending business. This is according to a report in WSJ.com. Lufax operates online and off – with more than 500 brick and mortar locations in over 200 cities. The… Read More

Lending Club Alters Grace Period for Borrowers

Lending Club (NYSE:LC) has tweaked the way it manages the “grace period” for borrowers when they make payments past the due date. Previously, borrowers received a 15 day grace period for any penalties on payments less than 15 days late.  Beginning today, Lending Club requires… Read More

Assetz Capital Embraces Local Presence to Boost Online Lending

As traditional banks reduce their physical presence across the country some online lenders are increasing their brick and mortar operations.  Assetz Capital is investing in their regional team and, in fact, grew their numbers by 110% during 2016. Stuart Law CEO and co-founder of the P2P… Read More

TransferWise Integrates Money Transfer Bot With Facebook Messenger

Global peer-to-peer lending platform TransferWise announced earlier this week it has integrated its money transfer service, TransferWise Bot, with Facebook Messenger. The online lender revealed that customers may now send money and set up rate alerts without having to leave the Facebook Messenger app. TransferWise reported that users… Read More

French Retail Investors Elect Their Favorite SME Lending Marketplaces

In what is probably a worldwide premiere, the French SME lending aggregator site crowdlending.fr organized an online competition enabling retail investors to elect their favorite lending marketplaces. The members of crowdlending.fr’s community of lenders lend on average €4,500 through 3,2 platforms. The 600 voters, who… Read More

Report: Funding Circle Has Topped £2 Billion in Lending

SME lender Funding Circle has reportedly topped £2 billion in lending. The SME marketplace lender is closing in on UK’s largest online lender Zopa that announced in January it had surpassed the £2 billion mark. Of course Funding Circle is an international operation with lending… Read More

China: WeiyangX Fintech Review

Hong Kong Securities & Futures Commission Joins R3 Blockchain Consortium The Hong Kong Securities and Futures Commission (SFC) announced it had joined the R3 blockchain consortium. Through this partnership, SFC will test applications of blockchain on record and settlement of securities and futures trading with the… Read More

Bitbond Raises $1.2 million to Fuel Global Expansion of SME Lending

Bitbond has raised $1.2 million in equity capital to help boost global expansion. The Berlin-based online lending platform has now raised total funding of $2.3 million. The funding round was led by mobilike founder Şekip Can Gökalp, plus several angels investors including, Fyber founders Janis Zech… Read More

RateSetter Borrowers Have Paid Back £1 Billion, Investors Have Earned £63 Million

Online lender RateSetter has said it has now collected £1 billion in capital repayments from borrowers since its first loan back in 2010. Overall, RateSetter has originated approximately £1.75 billion in loans while paying out £63 million in interest.  The average interest rate ranged between… Read More

Big Ticket Borrowing: Midsized Companies Turn to Marketplace Lending at Lendix & Creditshelf

At the onset of the marketplace lending market, lending to businesses was equated with lending to small and very small businesses: businesses at the low end of the small and medium-size enterprise (SME) market who were borrowing on average under €100,000.  However, as the alternative lending… Read More

OFF3R Index: Strong P2P Lending Growth Continues

OFF3R, an online marketplace for alternative investments, published a report on P2P lending and crowdfunding last week.  OFF3R said that while equity crowdfunding sagged in January – dropping 65% from December – P2P lending remained strong. The Index includes six different equity crowdfunding platforms. OFF3R… Read More

BondMason CEO Stephen Findlay Comments on RBS Move into Online Lending via NatWest

Last week, NatWest – part of the Royal Bank of Scotland (RBS) – announced a new online platform designed to simplify the loan making process for UK SMEs.  Borne out of an ‘Innovation Cell’, working with Fintech firm Ezbob Limited,  “Esme” has been developed in… Read More

Report: Majority of China P2P Lenders Could Fail in 2017

China is the largest market in the world when it comes to peer to peer lending. The Chinese online lending market has also earned a reputation for fraud and a wild-west type environment as many platforms operate with little regulatory oversight. But this is changing… Read More

Lending Works Reopens Window for ISA Contributions

UK-based peer-to-peer lending platform Lending Works announced on Friday it has reopened the window for ISA contributions. The platform claimed it is the first P2PFA member to launch an Innovative Finance ISA (IFISA) last week and filled its first ISA tranche of £2.5 million within 24… Read More

Auswide Bank Increases Equity Stake in Peer-to-Peer Lender MoneyPlace

Australia’s Auswide Bank Ltd. (ASX:ABA) announced on Thursday it is increasing its equity stake in peer-to-peer lender MoneyPlace Holdings Pty Ltd. According to Auswide Bank, it will have a controlling interest of at least 51% in MoneyPlace with the potential to increase that interest up… Read More

Royal Bank of Scotland’s NatWest Announces Digital SME Lending Platform Debut

Royal Bank of Scotland’s NatWest announced it is set to launch its very own digital SME lending platform called Esme. The new platform is notably set to offer new and existing NatWest customers with unsecured loans that are worth up to £150,000 for a maximum… Read More

Here is Lending Club’s Q4 Earnings Presentation (Deck)

Lending Club (NYSE:LC) has reported Q4 2016 earnings along with forward-looking statements for 2017. Lending Club reported that loan originations in Q4 of 2016 were $1.99 billion, or 1% higher compared to the $1.97 billion reported in Q3 of 2016 and down 23% compared to $2.58 billion in the… Read More

Lending Club Reports Q4 & Full Year Results as Originations Dip: “We Are Entering 2017 in a Stronger Position”

Lending Club (NYSE:LC), the largest marketplace lending platform in the US, has reported Q4 results alongside full year numbers. Loan originations in Q4 of 2016 were $1.99 billion, up 1% compared to the $1.97 billion reported in Q3 of 2016 and down 23% compared to $2.58 billion in the… Read More

Ram Ahluwalia of PeerIQ Shares the Future of Online Lending

In the online lending world, there are a handful of people that know everything that is going on. From the good to the not so good, their vantage point is unique. Ram Ahluwalia, CEO and co-founder of PeerIQ, is one of these individuals. Ahluwalia launched PeerIQ in… Read More