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p2p/online lending
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150

Report: SoFi Files Banking Application with FDIC

SoFi has officially filed with the Federal Deposit Insurance Corporation to create a state chartered bank. The filing is not unexpected as SoFi revealed its intent to pursue a banking charter this past May. (more…)

Banks, Hotnews, p2p/online lending

June 14, 2017

186

Brief: Indian P2P Lender LoanMeet Secures Seed Funding from Chinese Investors

Increasingly cross national investment in fintech is becoming the norm.  As an example, today Bengaluru-based P2P lender lender LoanMeet has raised an undisclosed amount of seed funding from Chinese entrepreneur-turned-investors Cao Yibin and Huang Wei, along with KrazyBee.com co-founder and CEO Madhusudan E, according to multiple new sources. (more…)

Hotnews, InspirAsia, p2p/online lending

June 12, 2017

341

At $3 Billion in Loans, Amazon is Quickly Becoming a Huge SME Lender

By Crowdfund Insider

Amazon (NASDAQ:AMZN) announced today that it had originated over $3 billion in loans to more than 20,000 small businesses since 2011. One billion of those loans came in the past 12 months. Peyush Nahar, VP for Amazon Marketplace, released a statement on the milestone; (more…)

Global trends, p2p/online lending, SME

June 9, 2017

209

WeChat Pay is now available globally via Paymentwall NEWS

By Paymentwall

Paymentwall has partnered with Tencent to bring WeChat Pay (Weixin Pay) to every online and retail store. The partnership allows every business owner around the world to get instant access to 600 million Chinese shoppers in China and abroad. (more…)

Global trends, p2p/online lending

June 9, 2017

205

Zopa Establishes Development Center in Barcelona

Peer to peer lender Zopa has established a development center in Barcelona, Spain. The new tech hub is said to initially focus on building the platform that will launch the next generation digital bank. (more…)

Accelerators/Incubators/Labs, p2p/online lending

June 7, 2017

262

Zopa Receives $41 Million Investment to Support Challenger Bank Launch

By David Penn for Finovate

P2P lending pioneer Zopa just picked up $41 million (£32 million) in new funding that will go a long way toward helping the company prepare for the roll-out of its challenger bank later this year. (more…)

Global trends, Hotnews, p2p/online lending

June 5, 2017

180

LendingClub Files Presentation in Advance of Annual Shareholders Meeting

LendingClub (NYSE:LC) has filed a new form with the SEC (DEF 14A) in advance of the annual shareholders meeting which is scheduled to take place on June 6, 2017. (more…)

Global trends, Hotnews, p2p/online lending

June 1, 2017

221

Earnest Prices $175 Million Securitization Rated by DBRS

Online lender Earnest has closed $175 million in refinanced student loans. (more…)

p2p/online lending

May 26, 2017

232

Singapore Marketplace Lender Capital Match Facilitates S$40M+ in Cumulative Origination

Capital Match announced that it has facilitated over S$40 million in cumulative origination since the start of its operations in 2015. (more…)

Fintech news, InspirAsia, p2p/online lending

May 26, 2017

169

Orchard: Consumer Unsecured Lending Down 44% from 2015 High but Increases from Previous Quarter

By JD Alois for Crowdfund Insider

Orchard is out with their quarterly report and it is pretty interesting. As most people in the online lending industry know, this sector of finance has been going through a bit of a transition in recent months. Orchard has direct access to origination volume to just about everyone so the numbers are pretty definitive. (more…)

Hotnews, p2p/online lending

May 25, 2017

183

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

212

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

187

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

151

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

208

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

120

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

157

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

605

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

132

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

309

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

156

358

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

212

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

205

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

198

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

273

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

250

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

280

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