Tagged: peer to peer

January 28, 2016 @ 12:04 pm By Samantha Hurst  |  

On Thursday, peer-to-peer lending platform, LendInvest, announced it has published its 2015 report. Highlights from 2015 include the following: Lowered minimum investment from £10,000 to £1,000 Completed UK’s largest ever Series A Funding with £22 million investment by Beijing Kunlun for 20% shareholding. Became world’s… Read More

January 27, 2016 @ 10:18 am By JD Alois  |  

Estonia based Bondora has topped a significant milestone. According to the peer-to-peer lender, as of yesterday they have surpassed €50 million in loans.  Their base of investors, at last count, stands at 12,641.  Their site states these investors come from 37 different countries. Borrowers now number… Read More

January 26, 2016 @ 8:51 am By JD Alois  |  

Following a €600,000 investment, Investly has launched a peer to peer lending platform targeting UK SMEs. Investly is an invoice finance platform similar to market leader MarketInvoice. SpeedInvest, a venture capital group that has been active in the Fintech space, provided the financing to enable… Read More

January 25, 2016 @ 8:44 am By JD Alois  |  

Peer to peer lender Folk2Folk has announced the creation of a “Legal Panel” to support its national roll-out strategy.  This new entity is said to form a national network of law firms to support the company’s local secured lending model as a central part of… Read More

January 24, 2016 @ 9:30 pm By JD Alois  |  

According to a recent report, the total amount of loans for direct lenders in Germany stood at € 16 million for 2016. Peer to peer, or marketplace lending is on the rise in many countries including Europe’s largest single economy. As published in iBusiness using data… Read More

January 23, 2016 @ 11:28 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published a consultation paper to address the rules regarding client money requirements for “loan based crowdfunding platforms” including peer-to-peer & marketplace lending. According to the FCA, presently an investors money held in relation to peer to peer loans must… Read More

January 22, 2016 @ 3:12 pm By JD Alois  |  

RateSetter, a UK-based marketplace lending platform, has surpassed £1 billion in loans and is staking a claim in setting a record. According to the company, RateSetter accomplished this milestone in 1,933 days. “The company believes it is now the largest online retail money market in… Read More

January 22, 2016 @ 8:03 am By JD Alois  |  

TrustBuddy, a publicly traded peer to peer lending platform, filed for bankruptcy in October of 2015.  This event occurred soon after it was revealed that management had uncovered “suspected misconduct” regarding the operations of the firm. Once the announcement of financial irregularities hit, it was… Read More

January 20, 2016 @ 8:24 am By JD Alois  |  

Marketplace lending platform RateSetter has hired two former bankers in a move to boost their executive bench. Paul Marston has taken the position of Head of SME Lending and Angela Yotov as Head of Legal. Marston was previously employed by Secure Trust Bank, a challenger… Read More

January 19, 2016 @ 10:22 pm By JD Alois  |  

As what will come as little surprise to many observers, a recent report out of China indicates that online fraud is on the rise, specifically within peer to peer lending. There have been repetitive, ongoing reports highlighting the risk of internet finance in China for… Read More

January 19, 2016 @ 1:27 am By Midori Yoshimura  |  

Backed by Ping An Insurance Group Co of China Ltd., Lufax, a Chinese peer-to-peer lender, has raised $1.2 billion from a group of investors, making it one of the world’s most valuable financial technology startups.  The capital raising values Lufax at $18.5 billion. The Shanghai-based Shanghai Lujiazui International Financial Asset Exchange Co… Read More

January 18, 2016 @ 6:33 pm By JD Alois  |  

Towards the tail end of last summer, Harmoney founder and CEO Neil Roberts decided to depart his responsibilities from the board of the company he created. It appeared a bit odd at the time, but Harmoney was quick to assure that it was just a “personal decision”.  The executive… Read More

January 18, 2016 @ 6:00 am By Spencer Li  |  

The China Banking Regulatory Commission (“CBRC”) issued the highly anticipated draft rules for online lending on December 28, 2015. Ever since the State Council guidelines (“the Guidelines”) for the Chinese internet finance industry were issued in July, rumors about the timing of the online lending… Read More

January 16, 2016 @ 9:17 am By JD Alois  |  

Tuft & Needle is an interesting startup.  In part because it is not some sexy tech unicorn but a company that provides a more banal product – mattresses. We all sleep. We pretty much all need one.  Mattress sales are big business yet the industry largely… Read More

January 15, 2016 @ 10:03 am By JD Alois  |  

The Innovative Finance ISA is a huge opportunity for the peer to peer lending industry.  Yet the introduction of the new ISA also highlights an ongoing issue for P2P platforms: The profound need to inform and educate potential investors and advisors of their services. Sure… Read More

January 14, 2016 @ 5:41 pm By JD Alois  |  

In an interview with Canadian Business, Canadian Imperial Bank of Commerce (CIBC) CEO Victor Dodig touched upon looming competition with online lenders. Dodig is a relatively new CEO of the bank having taken the helm of CIBC in 2014. Dodig joined CIBC in 2005 but prior… Read More

January 14, 2016 @ 2:42 pm By JD Alois  |  

Her Majesty’s Revenue and Customs (HMRC) department, the agency responsible for the collection of taxes, has published its current “position” on the requirement to deduct income tax on interest paid on peer to peer loans. According to HMRC, under existing tax rules in Chapter 3… Read More

January 12, 2016 @ 2:58 am By Midori Yoshimura  |  

In Shanghai and Shenzhen, administrations for industry and commerce have suspended the registration of Internet finance platforms, according to the Beijing Business Today in ECNS.cn. The publication also notes that in Beijing, the Administration for Industry and Commerce also released a similar statement. However, this has not… Read More

January 11, 2016 @ 12:17 pm By JD Alois  |  

Orchard has published its’ monthly industry report covering the marketplace lending sector for consumer unsecured loans. According to data provided by the company, total origination volume has consistently increased quarter-over-quarter during the past year. Some highlights included in the document; Borrower interest rates have been… Read More

January 11, 2016 @ 8:03 am By JD Alois  |  

Research conducted by peer to peer lender ThinCats indicates that one in four investors over 55 will consider leveraging the new Innovative Finance ISA that launches this coming April. This contrasts to 4.5% of investors in this age group that use P2P lending platforms as… Read More