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London-Based Robo-Advisor MortgageGym Closes £2M Seed Round

According to a company release, fintech startup MortgageGym secured £2 million in funding from its seed round. (more…)

Deals, Global trends, p2p/online lending

May 23, 2017

133

LendingClub Increases Retail Investor Minimums

LendingClub (NYSE:LC) has upped its minimum deposit to a minimum initial amount of $1,000 for all new retail investors making their first investment through Lending Club. (more…)

Fintech news, Global trends, Hotnews, p2p/online lending

May 19, 2017

116

Chinese P2P Lender Dianrong Links with Maggie Ng to Launch Global Fintech Marketplace

By

Chinese P2P lender Dianrong announced a new technology agreement with Maggie Ng, a leading consumer banking executive in Asia Pacific, to launch a global fintech marketplace connecting Asian investors with high-quality, low-volatility and largely untapped asset classes, including U.S. consumer lending. (more…)

Global trends, Hotnews, InspirAsia, p2p/online lending

May 19, 2017

Online Lender Earnest Said to Be For Sale

According to a report by Bloomberg,Earnest is up for sale. The San Francisco based online lender is said to have an asking price of $100 million. Founded in 2013, Crunchbase reports Earnest has raised over $99 million not including an undisclosed sum in a VC round in January 2016 and $200 million of debt financing.

(more…)

Deals, Fintech news, Global trends, Hotnews, p2p/online lending

May 17, 2017

134

P2P Lender DoFinance Opens Office in Indonesia as Part of Asian Expansion

DoFinance, part of the Latvian Alfa Finance Group, has opened an office in Indonesia as part of an Asian expansion of their peer to peer lending operations. DoFinance said they were applying a “customer-oriented approach set to European standards” for private Asian investors. (more…)

p2p/online lending

May 17, 2017

P2P Property Lender Lendy Tops £300 Million. Speed, Security & Low LTVs Key to Growth

By Crowdfund Insider

Peer to peer property lender Lendy has surpassed £310 million in originations with £50 million coming in last 100 days. The P2P lender states that investors and developers are responding to post-Brexit slowdown in bank lending.  Lendy adds that quick turnaround, security and low Loan to Value (LTVs) are key to their growth. Lendy says there are over 16,000 registered users on their site. (more…)

Global trends, p2p/online lending

May 16, 2017

MarketInvoice Receives £45 Million to Lend from BNI Europe

MarketInvoice, a UK based invoice financing platform, has received a £45 million lending commitment from Portuguese bank BNI Europa. (more…)

Deals, p2p/online lending, SME

May 15, 2017

Kreditech raises €110M from Naspers’ PayU in strategic financing partnership

By Ingrid Lunden for Techcrunch

Kreditech, the German startup backed by Peter Thiel, Rakuten and the IFC that creates credit ratings and provides finance to people who may not otherwise have credit histories, has raised another round of funding from one of its strategic partners. PayU, the payments company owned by Naspers that is known by some as the “PayPal of emerging markets” — its business is mainly in providing payment services to online merchants — is investing €110 million ($120 million) in Kreditech. (more…)

Fintech news, Global trends, Hotnews, p2p/online lending

May 11, 2017

520

How Lending Club Is Differentiating Itself From Other Online Lenders

By Omri Barzilay for Forbes

2016 has been a tough year for San Francisco-based Lending Club. Scott Sanborn, who took over as CEO and who’d served as the company’s COO prior, has taken drastic steps to get the company back on course. In less than a year, Sanborn cut and rehired 179 jobs and hired a new CFO, COO, general counsel and chief capital officer. In addition, the company launched a new auto refinance product and an investor mobile application, Lending Club Invest. (more…)

Global trends, Hotnews, p2p/online lending

May 11, 2017

Lending Club Keeps Pushing Its Comeback

(more…)

Hotnews, p2p-payments, p2p/online lending

May 9, 2017

Tungsten Targets Procure-to-Pay Friction With New Partner

Electronic invoicing company Tungsten has teamed up with the Institute of Finance and Management (IOFM) to help educate its business customers on how to streamline supply chain management. (more…)

p2p/online lending, SME

May 9, 2017

261

Online lender Prosper says system error overstated loan return

Prosper Marketplace, one of the largest U.S. online-lending platforms, notified the majority of the investors that buy its loans that it had overstated their annual returns due to a system error, a spokeswoman said. (more…)

p2p/online lending

May 5, 2017

276

PayPal launches Business in a Box service for SMBs

PayPal has unveiled a new service, called Business in a Box, which brings together a host of tools designed to help small firms start and run their online operations. (more…)

Banks, p2p/online lending, SME

May 2, 2017

138

Online lender CommonBond to offer more types of student loans

By Brian Yurcan for American Banker

The online lender CommonBond, known largely for refinancing student loans, said Tuesday that it has begun offering a wider assortment of loans to current higher-education students. (more…)

Global trends, Hotnews, p2p/online lending

April 25, 2017

134

WorldRemit partners Wafacash for money transfers to Morocco

Digital money transfer service WorldRemit has partnered with leading Moroccan financial company Wafacash to further support the growing demand for instant remittances and the immediate access of funds in the country. (more…)

Global trends, Hotnews, p2p/online lending

April 25, 2017

126

HCL to buy mortgage BPO firm Urban Fulfillment Services

HCL Technologies (HCL), a leading global IT services company, today announced an agreement to acquire Urban Fulfillment Services, LLC, (“UFS”), a provider of mortgage business process & fulfilment services. (more…)

Deals, p2p/online lending

April 25, 2017

204

SME Lending Activity: China Spikes, US Banks Reboot

By PYMNTS

Small business lending activity across the globe is in flux. China saw a whopping 17 percent increase in small business lending in Q1, while U.S. banks are rebooting their efforts to capture SMEs from their alternative rivals. The U.K. and Canada, meanwhile, see their small businesses struggling to find financing. We break down the latest on SME lending in these key markets. (more…)

Fintech news, Global trends, InspirAsia, p2p/online lending

April 24, 2017

173

Robo Advisor Wealthfront Launches Line of Credit to Make Users More Liquid

By Julie Muhn for Finovate

Robo advisor pioneer Wealthfront must know that opposites attract: in this case, it’s saving and investing. Today, the company launched a securities-based lending option– a line of credit that allows its users borrow against their own savings accounts. (more…)

AI / Machine Learning / Big Data, Hotnews, p2p/online lending, Wealth management

April 20, 2017

193

Kabbage Co-Founder & Head Fintecher Kathryn Petralia: Power Lending, Predictions & Progress

By

“Fintech, online lending, AI and privacy are complicated issues, so we’ve created innovative solutions and approaches that D.C. embraces once they understand them. Our message to Washington is: call us! We have someone to translate tech speak and “bureaucratese” for all of Washington’s questions.”

(more…)

Hotnews, Influences FinTech, p2p/online lending

April 16, 2017

Philippines Alt-Lender Lands Venture Funding

A Philippines-based alternative SME lender has landed new venture capital. (more…)

Fintech news, Hotnews, p2p/online lending

April 13, 2017

194

P2P lending platform Assetz Capital to raise interest rates for limited time

By Assetz Capital,

Assetz Capital, one of the UK’s largest and fastest growing peer-to-peer finance platforms, today announced it was raising the interest rate on its popular 30 Day Access Account (30DAA) by 0.5% to 4.75% for a limited time. (more…)

Fintech news, Global trends, p2p/online lending

April 13, 2017

170

Getting The SME Crowdfunding Model Off The Ground

By PYMNTS

Regulation A+ has made a mostly quiet splash on the market. Years in the making, the regulation was born from the JOBS Act, which was signed into law in 2012, with Title IV of the act — also known as Regulation A+ — enabling average joes to invest in companies seeking capital. (more…)

Crowdfunding/investing, Fintech news, Global trends, Hotnews, p2p/online lending, SME

April 12, 2017

166

Capital Float Tops Up Capital Raise

By PYMNTS,

India-based SME lender Capital Float has added a bit of funding to its books thanks to a $2.3 million raise announced Monday (April 10). (more…)

Deals, Fintech news, Global trends, Hotnews, InspirAsia, p2p/online lending, SME

April 11, 2017

236

Payday loan firm hit by data breach

Wonga, a prominent UK payday loan firm, has warned 270,000 of its customers that their accounts may be at risk following a data breach. (more…)

Global trends, Hotnews, p2p/online lending

April 10, 2017

Kabbage Exceeds $3 Billion Mark, Lends to over 100,000 SMEs

By  for Crowdfund Insider

Kabbage, a leading financial services, technology and data platform, announced it has extended more than $3 billion to small businesses across all 50 U.S. states, covering every industry. The company has also now served over 100,000 small businesses through its platform, representing the largest customer base of any online small business lender. (more…)

Fintech news, Global trends, p2p/online lending

April 10, 2017

304

Lending Club founder Renaud Laplanche is back with a new startup and $60 million in funding

By  for Techcrunch

Renaud Laplanche had a terrible no good very bad 2016. But the founder and longtime CEO of Lending Club is back with a new lending startup called Upgrade, along with the support of investors who’ve provided the company with $60 million in funding. (more…)

Global trends, Hotnews, Influences FinTech, p2p/online lending

April 7, 2017

Elevate Credit pulls off lending IPO

By Katie Roof for Techcrunch

After postponing its IPO last year, Elevate Credit, the venture-backed lending company, went public on the New York Stock Exchange today. (more…)

Deals, Hotnews, p2p/online lending

April 7, 2017

197

Lackluster IPO shows subprime lenders still have hurdles to overcome

By Kevin Wack for American Banker

President Trump’s deregulatory push was supposed to be a bonanza for high-cost consumer lenders. (more…)

Global trends, Hotnews, p2p/online lending

April 7, 2017

181

Moneytree Sees Green with $9 Million Funding Round

By Julie Muhn (@julieschicktanz) for Finovate

Japanese personal finance app Moneytree has landed $9 million (¥ 1 billion) in a series B round recently. This is the company’s third round of funding and brings its total raised to $10.5 million. SBI Investment led the round. Mizuho Capital, SMBC Venture Capital, Salesforce Ventures, Fukuoka Technology Partners, Hiroshima Venture Capital, Senshu Ikeda Capital, and Baillie Gifford also participated. (more…)

Deals, Fintech news, Global trends, Hotnews, InspirAsia, p2p/online lending

April 7, 2017