Tagged: p2p

December 22, 2016 @ 2:04 pm By Thomas LeTrent and Aaron Schwartz  |  

Market credibility and an emphasis on better transparency will be two key factors for marketplace lending in 2017. 2017 will be a pivotal year for the marketplace lending (MPL) space as the market will seek stabilization in both confidence and venture funding, following a challenging… Read More

December 22, 2016 @ 12:30 pm By JD Alois  |  

VPC Specialty Lending Investments has sold its portfolio of peer to peer loans that were originated on Funding Circle UK.  VPC stated it was seeking “less volatile returns” in selling the P2P assets. “The sale helps accelerate the company’s strategy of reallocating capital away from… Read More

December 22, 2016 @ 10:24 am By Samantha Hurst  |  

On Thursday, peer-to-peer lending platform Landbay announced it was granted full authorization from the FCA for peer to peer lending. The lender stated the new authorization is paving the way for the launch of its Innovative Finance ISA in the upcoming year. John Goodall and Gray Stern… Read More

December 21, 2016 @ 11:49 am By JD Alois  |  

The Financial Services Compensation Scheme (FSCS) is an important aspect of investor protection in the UK.  Similar in function to the US FDIC, certain financial accounts are insured by the government against financial loss. During the past two years, the FSCS paid out £271 million… Read More

December 21, 2016 @ 10:26 am By Samantha Hurst  |  

Zopa announced on Tuesday it was named a winner at both the AltFi Awards and F5 Awards. The peer-to-peer lender revealed it took home a number of prizes at AltFi and was dubbed Best P2P Lending Platform at the F5 awards. Sharing more details about the AltFi… Read More

December 21, 2016 @ 6:41 am By JD Alois  |  

  RateSetter, a leading UK peer to peer lending platform, has completed the sale of £2.1 million of non-performing debt. RateSetter sold the assets t 1st Credit, a debt purchaser.  Exact terms of the transaction were not revealed but RateSetter said it was the first… Read More

December 20, 2016 @ 12:01 pm By JD Alois  |  

KPMG, along with AltFi data, has published a new report on alternative lending in Europe. KPMG also sourced data from the most recent Cambridge Centre for Alternative Finance report. The document, entitled Alternative Lending Market Trends in Continental Europe 2016, provides an interesting snapshot of… Read More

December 19, 2016 @ 9:30 am By JD Alois  |  

Assetz Capital is reporting that it has lent approximately £105 million in 2016.   The peer to peer lender is not claiming the title of the UK’s 3rd largest P2P lender for SMEs. Founded in 2013, Assetz Capital says it is now the UK’s fastest… Read More

December 19, 2016 @ 7:25 am By Samantha Hurst  |  

On Monday, RateSetter announced it appointed Michael Hoare as its new Head of Risk Analytics and Retail Credit. Hoare notably joins from PayPal UK, where he was Chief Credit Risk Officer. Prior to PayPal UK, Hoare also worked at Capital One, where he held various positions… 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 16, 2016 @ 11:28 am By JD Alois  |  

The trial against Ezubao, once a high-flying peer to peer lending platform, has commenced.  The Beijing People’s Protectorate has started proceedings against Ezubao and its parent company Yucheng Holdings and Yucheng Global.  This is according to a report in China News. Apparently, 10 individuals will… Read More

December 16, 2016 @ 7:58 am By JD Alois  |  

Lending Club (NYSE:LC) filed an 8K yesterday indicating that Chief Technology Officer John MacIlwaine had submitted his resignation on December 15th. MacIlwaine decided to depart from Lending Club to pursue another opportunity.  Lending Club stated that Richard Southwick, Senior Vice President for Technology, will oversee… Read More

December 15, 2016 @ 7:03 am By JD Alois  |  

The Money Platform has launched in the UK.  The Money Platform is a peer to peer lender that targets short term credit of 3 to 12 weeks. After participating in the FCA’s Project Innovate incubator program, the Money Platform received the FCA’s full consumer credit… Read More

December 15, 2016 @ 3:10 am By Jessica Pham  |  

London-based AlliedCrowds is preparing to launch its P2P service AlliedExchange soon as it has begun the search for a new Managing Director.  AlliedCrowds/AlliedExchange is backed and funded by FSD Africa, which in turn is backed by the British government. This proposed platform will use P2P lending technology to present… Read More

December 12, 2016 @ 2:29 pm By JD Alois  |  

ApplePie Capital has signed a $180 million loan purchase agreement with TowerBrook Capital while simultaneously announcing the closing of a $16.5 million Series B funding round. The TowerBrook funding will come from its Structured Opportunities Fund and a credit facility provided by SunTrust Banks, Inc…. Read More

December 10, 2016 @ 3:10 pm By Jessica Pham  |  

Malaysia’s Securities Commission (SC) announced last month that six P2P platforms were registered and would continue to be overseen by the Government of Malaysia, making Malaysia the first ASEAN country to regulate P2P financing.  The six platforms include B2B FinPAL, Ethis Kapital, FundedByMe Malaysia, ManagePay Services, Modalku Ventures,… Read More

December 10, 2016 @ 2:54 pm By JD Alois  |  

Moody’s is out with a note commenting on the Office of the Comptroller of the Currency’s recent announcement it will offer Special Purpose Bank Charters for Fintech firms.  The move by the OCC was in recognition of the growing importance of Fintech and the movement… Read More

December 9, 2016 @ 3:51 pm By Samantha Hurst  |  

Following the FCA publishing an interim report on crowdfunding regulations, the team at peer-to-peer lending platform Zopa revealed their thoughts about the report and its findings. As previously reported, the report took into consideration feedback from the leading UK crowdfunding platforms (including peer to peer lenders),… Read More

December 9, 2016 @ 10:13 am By JD Alois  |  

The Financial Conduct Authority (FCA) has released their much anticipated interim report on debt and equity crowdfunding. The document addresses both peer to peer lending and investment crowdfunding platforms and the current state of operations as the new approach to capital formation evolves. Andrew Bailey,… Read More

December 9, 2016 @ 8:16 am By Samantha Hurst  |  

Assetz Capital announced on Friday that November 2016 was officially the peer to peer lender’s most successful month ever. The website confirmed it lent £26 million to users, £100 million for 2016.  Commenting on the online lender’s November success, Stuart Law, CEO of Assetz Capital, stated:… Read More