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p2p/online lending
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697

More P2P trouble as Chinese online lender accused of impersonating Jack Ma

By C.Custer for Techinasia.com

Before the lunar new year holiday, China’s massive online P2P lending market was somewhat in disarray. A cloud of doubts were crystallized when a police investigation of Ezubao, previously one of the scene’s top companies, discovered it was a Ponzi scheme. Banks started cutting off ties to the sector, and regulators were circling. The holiday offered a brief respite, but the return to business in China has brought with it more bad news for the sector. (more…)

Cashless, China, Fintech news, p2p-payments, p2p/online lending

February 16, 2016

Deals: Student microlending startup Buddy raises $500k from Tracxn Labs, Blume and others

DealStreetAsia: Bangalore-based student microlending startup, Buddy, has raised a Pre Series-A funding round of $500,000 from Blume Ventures, TracxnLabs and angel investors.

(more…)

Deals, Fintech news, news, p2p/online lending

February 15, 2016

498

Lending Club Posts Second-Ever Profit as Revenue Doubles

By PETER RUDEGEAIR and AUSTEN HUFFORD for Wall street Journal

Peer-to-peer lender’s loan originations jump 82% (more…)

Fintech news, p2p/online lending

February 11, 2016

Alibaba’s wallet app to give away $120m in live TV tie-up

By Steven Millward for TechinAsia.com

Alibaba and its mobile wallet app Alipay will give away US$120 million to viewers of the Chinese New Year TV extravaganza in China on February 7. (more…)

Cashless, China, Fintech news, InspirAsia, p2p/online lending

February 10, 2016

467

China’s P2P lending crisis: second major bank pulls support for payment to P2P lending sites

By C.Custer for TechinAsia.com

On Monday, I wrote that the high-profile Ezubao Ponzi scheme case was likely to have a negative impact on China’s entire P2P lending industry. It looks like that’s already happening. On Wednesday, Sina Tech reported China Merchants Bank has notified third-party e-payment platforms that starting Friday, it will no longer support payments to P2P lending services. (more…)

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

February 4, 2016

773

Nigerian Fintech company Interswitch is the African first public startup unicorn

Africa’s first billion-dollar tech IPO on a major exchange may be imminent. Nigerian digital payments company Interswitch will likely go public on the London Stock Exchange (LSE) in 2016, sources confirm.

(more…)

Fintech news, Mobile payments/banking, p2p-payments, p2p/online lending

January 28, 2016

552

The Evolving Nature Of P2P Lending Marketplaces

By Matt Heiman for Techcrunch.com,

In March 2014, The Economist publishedBanking without banks, declaring that peer-to-peer (P2P) lending platforms were set to disrupt banks and other traditional sources of capital by directly connecting borrowers to individual lenders. (more…)

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

January 24, 2016

552

LendUp Scores $150M For A Credit Card That Won’t Screw You Over

By Josh Constine for Techcrunch.com,

Banks are so greedy that LendUp can undercut them, help people avoid debt, and still make a profit on its payday loans and credit card. Not only is software eating finance, but morality is too.

(more…)

Cashless, Fintech news, p2p/online lending

January 22, 2016

Lufax Completes Fundraising, Valuing Company at $18.5 Billion

By Bloomberg News,

Lufax, a Chinese peer-to-peer lender and broker, has secured its position as the world’s most valuable financial technology startup by completing a fundraising that it said values the company at $18.5 billion. (more…)

Cashless, China, Fintech news, Mobile payments/banking, p2p-payments, p2p/online lending

January 18, 2016

621

TransferWise and YouGov report: “How Tech is democratizing the Financial services sector”

By  for Crowdfundinsider.com

Almost one third of Americans are likely to be using a technology provider and not a bank for the majority of their financial services activity in just five years time, according to a new report launched by TransferWise, the peer-to-peer international money transfer platform. (more…)

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

January 13, 2016

524

The Peer-to-Peer Loan Industry Has Been Getting Slammed

By Tracy Alloway for Bloomberg.com

So far, 2016 has not been a good year for peer-to-peer, or marketplace, lenders. (more…)

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

January 13, 2016

546

Deals: P2P Start-Up Duanrong Completes $59M Series B Round

Chinese P2P (peer-to-peer) lending start-up Duanrong has completed RMB390 million (US$59 million) series B round of financing from pharmaceutical company Furen Group, according to announcements (in Chinese) posted on the company’s Weibo account. (more…)

China, Deals, Fintech news, Mobile payments/banking, p2p-payments, p2p/online lending

January 12, 2016

Tracxn Alternative Lending Report

Tracxn Alternative Lending Report (202 Pages) finds that the Alternative Lending space has received a tremendous amount of investment in 2015, symbolizing the growing relevance and popularity of the segment. (more…)

Fintech news, p2p/online lending

January 9, 2016

1271

Online Financing in China

TechCrunchChina Rapid Finance, which claims to be the country’s largest online consumer lending marketplace, has closed a $35 million Series C round led by Broadline Capital. The round pegs the company’s pre-money valuation of $1 billion. China Rapid Finance is reportedly gearing up for an initial public offering in the U.S. (more…)

China, Deals, InspirAsia, p2p/online lending

July 29, 2015

1272

Development of Indian crowdfunding and online-lending platforms

E27.CO: Mumbai-based crowdfunding platform for social, personal and creative projects Ketto has raised US$700,000 in funding, led by Pradyumna Dalmia, a member of Calcutta Angels and Sudhir Rao of The Chennai Angels.

(more…)

Crowdfunding/investing, India, InspirAsia, p2p/online lending

July 17, 2015

552

Paypal Co-founder New Lending Startup Affirm Gets Into Student Loans For Coding Bootcamps

TechCrunch: Affirm, the lending startup co-founded by Max Levchin, is breaking into student loans for coding, design and business bootcamps from General Assembly, Bloc, Kaplan’s Dev Bootcamp and Metis. The company, which raised $275M this past spring, is branching out from its initial market in online retail. They were originally financing purchases at the point-of-sale online with e-commerce companies like mattress retailer Casper. (more…)

Fintech news, news, p2p/online lending

July 14, 2015

733

ZestFinance Launches Basix Online Loans For People With ‘Near-Prime’ Credit History

VentureBeat: Startup ZestFinance today announced Basix, a new program for giving loans online to people with what it calls “near-prime” credit history – those who are ineligible for a loan from a bank by just a little bit. (more…)

Analytics, Fintech news, news, p2p/online lending

July 14, 2015

622

SMS Loans Let People Skip Banks in the Developing World

Wired: In 2009, a man named Duncan Chege opened up a modest Internet cafe – if you could even call it that – in Nairobi, Kenya. In the beginning, the cafe, called Vision Computers, had just one machine. After 3 years of committed operation by Chege, that number grew to 8, some of those machines being slow and clunky second-hand desktops. (more…)

Fintech news, news, p2p/online lending

July 14, 2015

733

Fintech’s answer to Australian payday problem

TECHINASIA: These are just a few quotes from the media about an industry that has received its fair share of global criticism over the years – the payday lending industry. In Australian media coverage, you’d be hard-pressed to find a positive word spoken about what is described as “the fastest-growing component of Australia’s finance sector” to date. Australia’s leading business publication, the Australian Financial Review, recently reported on Cash Converter’s $23 million double class action settlement, for overcharging customers on interest rates.

(more…)

Fintech news, InspirAsia, news, p2p/online lending

July 12, 2015

1492

The hottest European fintech startups in 2015

EU-STARTUPS: In the last decade, there were a bunch of really successful fintech companies that started in Europe. Companies like Klarna, Adyen or Transferwise (to name just a few) changed the way we do payments or the way we transfer money overseas. By pursuing radical new concepts, these fintech startups became some of Europe’s most valuable companies within just a few years.

(more…)

eWallets, Fintech news, Mobile payments/banking, Mobile-first banks, news, p2p-payments, p2p/online lending, POS/mPOS and online acquiring, Remittances

July 10, 2015

648

Self Lender Raises $1.5M To Help Americans Establish Credit

TECHCRUNCH: Former Disrupt Battlefield participant Self Lender has raised a $1.5 million round of seed capital from Silverton Partners, who wrote the full check. The new cash comes after the firm raised a prior total of $535,000 from TechStars, Kickstart Seed Fund, and Galvanize Ventures. To date, Self Lender has raised $2.035 million.

(more…)

Deals, Fintech news, news, p2p/online lending

July 10, 2015

565

SME Lending: For Developed and Developing

WIRED: Funding Circle, a marketplace for business loans, is one of a growing number of companies working to upturn that trend, and bring an end to the lack of choice beyond the incumbents. The UK firm has leant more than $1.2bn in the past five years to thousands of businesses in UK and US, facilitating $100m of new lending every month. It has achieved this by operating in the same way some of the world’s most successful tech companies have. (more…)

Fintech news, news, p2p/online lending

July 8, 2015

1035

P2P-Lending in India and China

TECHCRUNCH: Lendingkart, a New Delhi-based platform for small businesses loans, has raised a Series A of $10 million from Saama Capital, Mayfield Fund, Shailesh Mehta, and Ashvin Chadha. Since launching a year ago, Lendingkart has processed loans from 50 cities and 17 states across India. It will use its new capital to expand into all towns and cities in India, improve its credit scoring technology, and hire more employees.

(more…)

China, Deals, India, InspirAsia, p2p/online lending

July 8, 2015

644

Some Chinese Are Taking 22% Margin Loans to Finance Stock Purchases

Bloomberg: As more Chinese jumped into the market in the hope of instant wealth, peer-to-peer websites offering loans for stock investing have mushroomed. They are among a multitude of sources of leverage outside of traditional margin financing that threaten to complicate any efforts to prevent an unruly reversal of China’s stock market boom, which is already faltering. (more…)

China, InspirAsia, p2p/online lending

July 1, 2015

2001

P2P Lending: How digital lending marketplaces are disrupting the predominant banking model

Business Insider: Banks have historically handled most consumer and small business lending because they have the resources to assess a borrower’s creditworthiness, and the regulatory approval to fund loans. However, this model has some key inefficiencies – interest rates are not individualized, the costs of underwriting loans are high, loan decisions can take months, and small businesses in particular have been shut out of the process. (more…)

Fintech news, news, p2p/online lending

May 22, 2015

2466

P2P Lending Startups That Are Trying To Destroy The Banks

Business InsiderChallenger bank Metro Bank has just struck a deal with Zopa, one of the UK’s biggest peer-to-peer consumer lenders, to lend money over Zopa’s platform. The amount lent wasn’t disclosed but a source told Business Insider that it was around “millions a month”. (more…)

Fintech news, news, p2p/online lending

May 19, 2015

633

PayPal Says It’s Loaned $500M To Small Businesses In The Past 18 Months

VENTUREBEAT: PayPal revealed today that it has loaned $500 million to small businesses since its launch of Working Capital a year and a half ago. The company says that it issues $2 million a day in loans just within the U.S. The loan service also operates in the U.K. and Australia. (more…)

Fintech news, news, p2p/online lending

May 11, 2015

689

Max Levchin’s Affirm Raises $275 Million to Make Loans

RE/CODE: Having dabbled in online slideshows and fertility tracking, PayPal co-founder Max Levchin has swung fully back to his online money roots. Affirm, the online lender where Levchin is co-founder and CEO, has now raised $275 million. The “vast majority” of the round is debt that the company expects to lend out to its customers, an average of $400 at a time. (more…)

Deals, Fintech news, news, p2p/online lending

May 6, 2015

798

UBER & Zopa Hook Up to Help Drivers Purchase Cars

CROWDFUND INSIDERZopa, the first peer to peer lender in the UK, has partnered up with another innovative firm UBER. The now (almost) ubiquitous ridesharing / cab replacement company is entering into a new service.  UBER and Zopa have created a new marketplace that will assist UBER drivers who are looking to move from renting an auto to purchasing the car.  The new agreement is expected to “help thousands of UBER drivers reduce their costs each month” but lowering monthly costs.  Certainly an interesting incentive for new drivers to join the UBER team. (more…)

Fintech news, news, p2p/online lending

May 6, 2015

623

Chinese P2P Web Lending Breaks New Record In April

TECHINASIA: Online finance and lending platforms have been exploding in China, and the P2P lending sector is especially hot. In April we saw Xiaomi-backed Chinese P2P lending site Jimubox and Sequoia-backed P2P lending site PPDai raise massive series C rounds, and now that the month is over we’ve got data on the market as a whole. And that data, which comes from Yingcan Zixun, says that P2P web lending had its best month ever. (more…)

China, InspirAsia, p2p/online lending

May 6, 2015