Tagged: p2p

June 8, 2016 @ 8:06 am By JD Alois  |  

Reuters is reporting that former Lending Club CEO Renaud Laplanche is seeking financial backing to purchase Lending Club (NYSE: LC) and take it private. According to the report, Laplanche has been in discussions with various banks and private equity groups about financing a bid for the… Read More

June 7, 2016 @ 1:59 pm By JD Alois  |  

Lending Club (NYSE:LC) has filed an 8K with the Securities and Exchange Commission (SEC) indicating it has raised interest rates once again in response to the evolving marketplace.  According to Lending Club, “Effective June 7, 2016, Lending Club’s platform interest rates are increasing to boost… Read More

June 7, 2016 @ 11:00 am By JD Alois  |  

LendingRobot is “doubling down” on Lending Club. As the largest marketplace lending platform in the US fights back to regain its sea-legs, Lending Robot, a provider of analytical tools for retail investors in marketplace lending assets is launching a new feature to improve investor returns. Despite… Read More

June 2, 2016 @ 6:01 pm By JD Alois  |  

  The Chairman of the UK Parliament Treasury Committee has written both Tracey McDermott, head of the FCA, and Andrew Bailey, Deputy Governor of the Bank of England for Prudential Regulation, to enquire if consumers may benefit from further regulation of the peer to peer… Read More

June 2, 2016 @ 7:54 am By JD Alois  |  

RateSetter is reporting it has surpassed £250 million in lending to UK businesses.  The benchmark event comes after a series of recent business developments for the marketplace lender. According to RateSetter, participation by the British Business Bank, updated lending limits and a growing executive bench… Read More

May 31, 2016 @ 6:28 pm By Erin Hobey  |  

US Fintecher ChimpChange aims to raise $15M in its Australian IPO offering, according to The Australian. “The stock is expected to begin trading on the Australian ASX on a deferred settlement basis on June 30,” reported The Australian, “planning to issue 18.75 million shares at 80¢ apiece to… Read More

May 31, 2016 @ 10:33 am By JD Alois  |  

It was reported earlier this month that billionaire Tianqiao Chen, founder of Shanda Interactive Entertainment, had taken a significant stake in Lending Club (NYSE:LC).  Shares of Lending Club have cratered since the resignation of former CEO Renaud Laplanche. The move by Chen appeared to be an… Read More

May 29, 2016 @ 7:44 pm By JD Alois  |  

Shares in Lending Club (NYSE:LC) jumped last week as chatter popped up in a report in WSJ.com that Citigroup may be purchasing, or perhaps providing financing, for their loans.  This is the second round of positive news as it was recently revealed that Chinese billionaire Tianqiao… Read More

May 29, 2016 @ 11:59 am By JD Alois  |  

The peer to peer lending industry in India has been slow to evolve in contrast to many other nations. Yet India is the second most populous country with more than 1.2 billion people and is the most populous democracy in the world. The opportunity for… Read More

May 27, 2016 @ 8:13 am By JD Alois  |  

The Trustbuddy bankruptcy saga has been a challenging affair for the entire peer to peer lending industry – not to mention the beleaguered investors who lost money in the process. Today it appears that Trustbuddy is closing the door on another chapter of its rise… Read More

May 26, 2016 @ 12:31 pm By Erin Hobey  |  

Just in time for graduation, Lenny, an app that offers credit lines to Millennials, announced a partnership with FICO (NYSE: FICO) to provide students and post-grads with their FICO® Score, the standard measure of consumer credit risk.  Founded in 1956 and based in Silicon Valley, FICO is leader in the… Read More

May 26, 2016 @ 12:30 pm By Amy Wan  |  

After being invited to file a brief to the Supreme Court, the Solicitor General’s Office filed a brief this past Tuesday, May 24, 2016 and weighed in on the Madden v. Midland Funding, LLC case. Or rather, by weighing in I mean they blatantly shot… Read More

May 26, 2016 @ 8:39 am By JD Alois  |  

Latvia-based Twino is celebrating its one year anniversary.  After 12 months of operation, the peer to peer lending platform states it has originated over €22 million in loans.  Twino says their rapid growth makes them the “fastest growing platform in Europe.  Investors have earned approximately €325,000 in… Read More

May 26, 2016 @ 8:12 am By JD Alois  |  

Commercial property lender Proplend has reduced their required minimum investment from £5000 to £1000.  The move is expected to broaden their investor base while making it easier for existing investors to create a more diversified portfolio of loans.  Going forward, all new loans will be… Read More

May 25, 2016 @ 6:51 pm By JD Alois  |  

TrustBuddy, a peer to peer lending platform that spectacularly collapsed into bankruptcy last year, has been in the hands of bankruptcy trustees since its demise.  The entire saga became a cautionary note on the emerging online lending industry. Trustbuddy, a publicly traded entity, entered a… Read More

May 24, 2016 @ 7:35 am By JD Alois  |  

ArchOver and GapCap have formed a strategic agreement where the two platforms will share future business opportunities. While not a merger, the Service Level Agreement (SLA) appears to be a step in that direction.  Both ArchOver and GapCap provide financing secured by receivables. ArchOver is a… Read More

May 23, 2016 @ 9:48 am By JD Alois  |  

Global consulting firm Deloitte has thrown some serious shade at the online lending industry. In a report entitled; “Marketplace Lending – A Temporary Phenomena?”, the firm makes the statement that traditional finance need not worry about the fast growing marketplace lending industry; “Our findings suggest… Read More

May 22, 2016 @ 11:38 am By JD Alois  |  

  Co-founded by CEO Emmanuel Marot, LendingRobot is a Fintech company that provides powerful tools for the smaller investor interested in investing in Lending Club, Prosper and Funding Circle loans. Peer to peer lending has morphed into marketplace lending as institutional money poured in. Meanwhile LendingRobot… Read More

May 19, 2016 @ 8:30 am By JD Alois  |  

UK peer to peer lender Zopa is moving into auto loan refinancing targeting a £12 billion used car loan market.  The new product is as significant expansion for the UKs largest P2P lender by loan volume as it seeks to diversify its offerings. Zopa is… Read More

May 16, 2016 @ 9:19 pm By Erin Hobey  |  

Lending Club (NYSE:LC)  received a federal grand jury subpoena last week, after founder and CEO Renaud Laplanche resigned from the board following an internal review of lending and financial practices. According to the P2P lender, $22 million in loans were sold to a single investor against “express instructions as… Read More