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734

Fintech B2B small business lending marketplace Bigstone raises $3 million

By Yolanda Redrup for AFR

Fintech start-up Bigstone has raised $3 million from a range of investors, including ASX-listed diversified investments and venture capital firm CVC, to grow its small business lending marketplace and offer an alternative to the big banks.

The seed funding round is the first capital raised by the start-up, which connects small businesses wanting to borrow up to $250,000 with non-bank lenders.

Other major investors in the round were the founders of Bangkok-based fund Lighthouse Venture Partners Paniti Junhasavasdikul and Narith Phadungchai, in addition to private investors.

Bigstone co-founder and chief executive Boyd Pederson said the capital would be used to fuel expansion, grow its marketing team and to continue developing the marketplace.

(more…)

Cashless, Deals, Mobile payments/banking, p2p-payments, p2p/online lending

August 8, 2016

P2P Lending Must Continue to Exist – Greed and Laxness Shouldn’t

By LTP

Over the past six months, alternative finance, in particular, P2P lending, has gone through a trial by fire, where several events have scandalized and bruised the reputation of the industry. (more…)

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

August 1, 2016

Online Lending Takes Root in Korea, Spurring Rush for Regulation

By  for Bloomberg

South Korean investors beset by Asia’s third-lowest benchmark yields are embracing peer-to-peer loans that offer average rates of about 9 percent and not a lot of information about where the money winds up. (more…)

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

July 25, 2016

937

Lending Club Scandal Provokes Major UK ‘Peer-To-Peer’ Investigation

By Roger Aitken for Forbes

Campaign for Fair Finance (CFF) founder Dr Roger Gewolb has welcomed the intervention of the UK Financial Conduct Authority’s (FCA) new chief executive Andrew Bailey as an investigation gets underway into peer-to-peer (P2P) lending, a relatively new internet-based way of obtaining a loan. It comes amid concerns in the US and UK about how safe the sector is and protections afforded to consumers. (more…)

Analytics, Banks, p2p-payments, p2p/online lending

July 23, 2016

880

Peer-To-Peer Lending In China – 30% Interest, Pays Monthly…

Peer-To-Peer Lending In China by Henry Zhang, CFA – Matthew Asia

While I was on a recent research trip in China, I overheard something in an elevator that was quite worrisome. Two young office workers, who happened to be sharing the same elevator with me, were discussing an investment product that one of them had purchased a few months back. “The product offers30% interest and pays interest monthly,” she told her friend. “I’ve already received several monthly payments. And I think it is trustworthy…” (more…)

Global trends, Hotnews, InspirAsia, Mobile payments/banking, p2p/online lending

July 23, 2016

Online Marketplace Lending — Recently Misunderstood?

By Nav Athwal for Forbes

Recent news reports would have investors believe that the entire online lending sector is in trouble – when in fact, default rates remain largely in line with expectations and securitizations of consumer and student loans are on the upswing. And while many reports paint the entire online sector with a single brush, asset-based lending (such as collateralized real estate loans) is a different animal from consumer credit lending — a key distinction for investors. (more…)

Banks, Global trends, InspirAsia, Mobile payments/banking, p2p/online lending

July 19, 2016

954

Slump Might Turn Anti-Bank SoFi Into a Bank

By PETER RUDEGEAIR and TELIS DEMOS for WSJ

Mike Cagney, the boss at online lender Social Finance Inc., said in August that the traditional finance industry is “the second biggest waste of human capital outside the IRS” and full of “significantly overpaid people who do very little in terms of value to society.” (more…)

Analytics, Fintech news, Global trends, p2p-payments, p2p/online lending

July 13, 2016

832

LendingClub’s Newest Problem: Its Borrowers

By TELIS DEMOS and PETER RUDEGEAIR for WSj

Charge-off rates have risen as much as 38% since 2013 at the largest online lender

(more…)

Analytics, Fintech news, Global trends, Mobile payments/banking, p2p-payments, p2p/online lending

July 13, 2016

Ex-LendingClub CEO Laplanche Is Selling $20 Million of Stock

By Jennifer Surane for Bloomberg

Renaud Laplanche, the LendingClub Corp. founder who stepped down as chief executive officer in a May shakeup, is selling stock in the company valued at $20.1 million.

Laplanche disclosed a plan to execute options for 4.63 million shares of the San Francisco-based company in a filing dated June 29. Calls to Laplanche and LendingClub weren’t immediately returned.

Laplanche, 45, resigned as chairman and CEO in May, setting off a slide in LendingClub’s stock. The company, which matches consumers seeking loans with investors willing to fund them, said the exit was prompted by two incidents: Staff had altered application dates on some loans before their sale, and Laplanche failed to disclose his interests in a fund that LendingClub was considering investing in.

Deals, Fintech news, Mobile payments/banking, p2p-payments, p2p/online lending, People of fintech

July 9, 2016

732

Russian startup Blackmoon launches online lending platform in the U.S.

By Paul Sawers for Venture Beat

A Russian startup is launching in the U.S. this week to target the lucrative online lending market. (more…)

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

July 6, 2016

795

Boom, bubble or bust for fintech?

by  for Techcrunch.com

The term “fintech” has become all the rage; investors and media can’t stop talking about it. Many people also have been talking about the “bubble” in the tech industry, but could there be a “bubble” in fintech, as well? (more…)

Analytics, Banks, Global trends, Hotnews, p2p-payments, p2p/online lending

June 16, 2016

999

Latest threat to online lenders: ‘stacking’ of multiple loans

By HEATHER SOMERVILLE, OLIVIA ORAN AND JOY WILTERMUTH for Reuters 

Many online lenders have failed to detect the “stacking” of multiple loans by borrowers who slip through their automated underwriting systems, lending company executives and investors told Reuters. (more…)

Deals, Global trends, p2p-payments, p2p/online lending

June 10, 2016

1175

US peer-to-peer lending model has parallels with subprime crisis

By Patric Jenkins for Irish Times

It’s growing in popularity in Ireland but credit quality of some peer-to-peer loans is triggering concerns in the US (more…)

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

May 31, 2016

Short term lending – A pink Slip

By the Economist
“WHAT rate of interest…can naturally be more proper than another?” asked Jeremy Bentham in “Defence of Usury” in 1787. Anything less than 36%, answer American activists who want to curtail payday lending—pricey, short-term credit typically used as an advance on a pay cheque. (more…)

Fintech news, Global trends, Hotnews, InspirAsia, p2p-payments, p2p/online lending

May 30, 2016

919

China online lending crackdown shutters Guangdong P2P site

By Reuters 

A large Chinese online lending platform accused of illegal operations has suspended operations, one of hundreds that have been shut this year by the government, as China cleans up a sector ridden with stories of Ponzi schemes. (more…)

China, InspirAsia, p2p-payments, p2p/online lending

May 27, 2016

China online lending crackdown shutters Guangdong P2P site

By Reuters

A large Chinese online lending platform accused of illegal operations has suspended operations, one of hundreds that have been shut this year by the government, as China cleans up a sector ridden with stories of Ponzi schemes. (more…)

China, Deals, Government activities, InspirAsia, p2p-payments, p2p/online lending

May 26, 2016

1196

The mercurial nature of P2P lending

By Mike Lobanov for Techcrunch

The meteoric rise of e-lending platforms attracted a lot of interest among investors and entrepreneurs. Lending Club and OnDeck have already become public companies, and their competitors, such as Funding Circle, SoFi, Prosper, RateSetterZopa, Avant, Kabbage and others continue to develop and increase their loan portfolios. (more…)

Analytics, Fintech news, Global trends, Hotnews, p2p-payments, p2p/online lending

May 23, 2016

Three FinTech Developments That Benefit Borrowers

By Rohit Arora for Forbes

FinTech firms disrupted the small business credit marketplace by developing technology that streamlined the lending process and sped up the loan-making process to 21st century standards. (more…)

Global trends, Mobile payments/banking, p2p-payments, p2p/online lending

May 23, 2016

850

How will marketplace lending become a mainstream investment asset class?

By Min Zhang for Techcrunch.com

A friend who recently started his own business couldn’t obtain a mortgage from three banks. I suggested he try marketplace lending platforms like SoFi to take advantage of the ongoing innovation in fintech. However, SoFi turned him down, as well, because it abides by the same underwriting rules as traditional banks. Like the banks, SoFi sells their mortgage loans to Fannie Mae. (more…)

Cashless, Fintech news, InspirAsia, p2p/online lending

May 23, 2016

Financing your business – should you use P2P lending services or bank loans?

By Yong Heong Tung for e27.com

Advancements in the fintech space have opened up new avenues for businesses seeking to raise funding outside of traditional routes (more…)

InspirAsia, p2p-payments, p2p/online lending

May 23, 2016

633

Fintech Needs to Expand the Club

By Michael Regan for Bloomberg

The Treasury Department’s white paper on marketplace lenders like LendingClub and On Deck Capital was called a “‘welcome to the real world’ moment” by analyst Ian Katz at Capital Alpha.
(more…)

Fintech news, Global trends, p2p/online lending

May 11, 2016

970

The CEO of fintech company Lending Club is stepping down, and now the stock is crashing

By Myles Udland for Business Insider

Lending Club CEO Renaud Laplanche is stepping down from his position with the company after an internal review. (more…)

Fintech news, Hotnews, p2p/online lending

May 9, 2016

1118

Fintech Flip-Flop

By Nisha Gopalan for Bloomberg Business

Few words fill banks with more dread these days than fintech, the growing bevy of unregulated upstarts mucking about in their business patch. (more…)

Deals, Government activities, Hotnews, p2p-payments, p2p/online lending

May 6, 2016

1141

Lending Startups Hone Their Focus

By Telis Demos for WSJ Venture Capital

Silicon Valley once threw money at startups that aimed to disrupt broad swaths of finance. Now it is rewarding those that have sharpened their focus. (more…)

Analytics, Fintech news, Global trends, Government activities, p2p-payments, p2p/online lending

April 27, 2016

1333

Venture-Capital Firms Dial Back on Fintech; Funding to Online Lenders Plunges

By Yulia Chernova for WSJ Venture Capital

Financial technology startups, which are highly susceptible to broader economic turbulence, have hit a downdraft in venture capital funding. (more…)

Fintech news, Global trends, p2p/online lending

April 26, 2016

967

The Big Flaw Few are Talking About in Fintech

By  for Fortune

Their business model may need to be changed. (more…)

Banks, Fintech news, Global trends, p2p-payments, p2p/online lending

April 20, 2016

1530

Peer-to-peer lending: Making a mark in the fintech market

By  for Financial express

A lack of market depth could derail the P2P model (more…)

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

April 19, 2016

1242

Making sense of the lending industry’s rapid changes

By Mike Lobanov for Techcrunch

“A horse is here to stay, but the automobile is only a novelty — a fad.” (more…)

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

April 18, 2016

867

Fintech Lenders Dial Back Marketing in Response to Softer Investor Demand

By PETER RUDEGEAIR and TELIS DEMOS for Wall Street Journal

Online lenders are scaling back efforts to attract new borrowers, as these upstarts contend with pressures from quality control to regulation that could dent their revenue growth.

(more…)

Global trends, p2p/online lending

April 11, 2016

1078

Debt market opens to P2P loans

By Sara Toth Stub for Tradestreaming

Last week British investor Fintex Capital issued the first Euro-denominated bond backed by marketplace loans. Like traditional bonds, it can trade through Euroclear and carries an International Securities Identification Number, but it is backed by a bundle of unsecured online loans to consumers, part of a rising phenomenon known as peer-to-peer, or marketplace lending. (more…)

Fintech news, Global trends, p2p-payments, p2p/online lending

April 1, 2016