UK based peer to peer lending platform RateSetterhas topped £2.5 billion in loan originations, according to a note from the company. The online lender provides credit to both individuals and UK SMEs. The milestone comes just as RateSetter announced that it had generated £100 million in interest for its investors, without any losses to investors since the company was launched in 2010. RateSetter has incorporated a provision fund to mitigate investor risk and so far the fund has been effective. To date, investors have earned, on average, 4.4%. (more…)
Online alternative lender Kabbage has teamed up with push payments innovator Ingo Money to get commercial loan proceeds to small and medium sized businesses that much faster. Kabbage will use Ingo’s Push Platform, with its push-payments-in-a-box technology, to disburse loan payouts to customer accounts securely and in real time. (more…)
By Funding Circle,
Fintech Circle, the leading global community of FinTech entrepreneurs, angel and VC investors, financial services professionals and FinTech thought-leaders and its Fintech Circle Institute, is poised to launch its comprehensive range of Fintech Education Courses for the United Arab Emirates (UAE), in collaboration with Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi. (more…)
By Lending Tree,
LendingTree, the nation’s leading online loan marketplace, today announced the launch of a free credit monitoring service within the My LendingTree platform. (more…)
Today Fundbox, the leading small business growth company, announced the launch of Fundbox Pay, a new payment and credit solution servicing the $4.5 trillion small business-to-business (SMB2B) transactional market in the U.S. (more…)
Elevate Credit, Inc. (Elevate), a tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, announced on Monday its customers have saved more than $3 billion to date, versus what they would have paid for payday loans. $1.3 billion was saved in 2017 alone. (more…)
Lending Marketplace Lendix Raises €200 Million Institutional Financing to Trailblaze European Alternative SME Finance
Lendix’s historical investors are renewing their trust in the Paris-based European SME marketplace lender. The European Investment Bank Group (EIB), CNP Assurances, Eiffel IM, Groupama, Zencap AM, Matmut and Decaux Frères Investissements are among the first investors joining to finance Lendix’s latest investment vehicle to fund unsecured loans to SMEs in France, Spain and Italy. New institutional investors from banks and asset management firms in Spain and Italy are joining. As of now, €120 million of the planned €200 million are already committed and the first loans from this fund will start rolling out as soon as February. (more…)
P2Binvestor CEO Krista Morgan founded P2Binvestor in 2012 with a mission to help growing businesses succeed. Morgan is not only CEO of a fast growing Fintech, she is also the cohost of the podcast “Women Who Startup Radio”, an ardent mentor to other women entrepreneurs who speaks regularly on business finance, fundraising, and scaling a startup. (more…)
The UK online alternative finance market grew 43% in 2016 to reach £4.6 billion, buoyed by increased institutional investment and a sustained pick up in innovative business lending models. (more…)
US online lender SoFi is gearing up to launch a cash management account early next year after inking a payment processing and debit card sponsorship agreement with WSFS Bank. (more…)
Australian consumer lending fintech, MoneyMe, has finalised an AU$120 million asset-backed wholesale securitization facility led by $100 million from global investment manager, Fortress Investment Group, and joined with $20 million of bonds issued by corporate advisory, Evans & Partners. (more…)
The good thing about people is that they always find a way to make life easy, which is exactly why the banking system exists. With banks, people can get loans and finance their various development projects even when they don’t have all the cash needed. For example, if you’re building or buying a home and you don’t have enough money to cover the expenses, you can get a loan or mortgage to finance your plan.
Paytm, India’s largest payments platform has partnered with ICICI Bank, the country’s largest private sector bank by consolidated assets, to jointly launch ‘Paytm-ICICI Bank Postpaid’, the most seamless way to access interest-free short-term digital credit. (more…)
BNP Paribas Asset Management (BNPP AM) has bought a 10% stake in a new alternative SME credit specialist called Caple as part of a wider strategic alliance. (more…)
Kabbage Announces New $200 Million Asset-Backed Revolving Credit Facility With Global Financial Institution Credit Suisse
By Samantha Hurst for Crowdfundinsider
Kabbage Inc., a global financial services, technology and data platform serving small businesses, announced on Thursday its new $200 million asset-backed revolving credit facility with Credit Suisse, a global financial institution. This news comes less than a month after Kabbage announced it and ING were extending its strategic partnership with Italy and France. (more…)
Lendix, online lender for SMEs in continental Europe, has announced the launch of a new financing product: the Flexible Bridge Loan. This product is designed to will allow a greater number of French, Spanish and Italian SMEs to benefit from the speed of execution of Lendix’s lending platform while leaving them the possibility of setting up an overall refinancing solution with other financial institutions. (more…)
By Timmy Shen for tech Node
Lexin Fintech Holdings, an online microlending platform targeting young Chinese consumers, on Monday filed for IPO in the US to raise $500 million. (more…)
On Friday, SoFi announced it has completed a $727 million issuance of SoFi Consumer Loan Program 2017-6 (“SCLP 2017-6”) notes, making it the largest offering of securities backed by consumer loans and is SoFi’s 11th ABS transaction this year, bringing the lender’s total issuance for 2017 to $6.1 billion. (more…)
- The stock is traded on the NYSE under the ticker symbol QD.
- The Chinese fintech company is backed by Alibaba and posted a 2016 net income of $85 million.
- Shares priced at $24 in the $900 million IPO and opened at $34.35.
PayPal has partnered with Kiva to help provide loans to entrepreneurs. This is the second time PayPal and Kiva have empowered PayPal users to provide loans while receiving a Kiva credit. Last year the campaign say more than 10,000 PayPal customers and employees make loans to entrepreneurs around the world. This year, PayPal would like to see that number climb higher. (more…)
By Samantha Hurst for Crowdfund Insider
Lenddo announced on Tuesday it has formed a new partnership with Entrepreneurial Finance Lab (EFL). The companies also reported they are working together to provide a suite of credit scoring and identity verification products to more than 20 emerging markets. Lenders will be able to use the duo’s platform to provide individuals globally with unprecedented, affordable access to convenient financial products. (more…)
LoanBook, a large SME marketplace lender based in Spain, has formed a new partnership with Sage, a market-leader in cloud accounting, payroll and payments software, to offer Sage’s Spanish customers a direct, in-product channel to alternative finance options. (more…)
ABN Amro is promising credit-worthy small businesses a decision on a loan application in 15 minutes through a home-grown fintech startup, dubbed New10. (more…)
LendingTree, Inc. (NASDAQ: TREE) announced on Tuesday it has acquired certain assets of Snap Capital LLC, a tech-enabled online platform connecting business owners with lenders offering small business loans, lines of credit and merchant cash advance products through a concierge-based sales approach. (more…)