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…)
P2P
Tag Archive
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…)
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…)
RBI to bring P2P lending under regulation soon
By ENS Economic Bureau for Indian Express
P2P lending is the practice of lending money to individuals or businesses through online services that match lenders directly with borrowers. (more…)
Peer-to-peer lending: Making a mark in the fintech market
By Sridhar Chitiyala for Financial express
A lack of market depth could derail the P2P model (more…)
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…)
China’s P2P Property Lending Growth Six Times Faster Than Banks
By Alfred Liu for the Bloomberg Business,
Peer-to-peer lending for property in China grew more than six times faster than loans extended through banks last year as borrowers took advantage of a less-regulated financing market to take part in the nation’s real estate boom. (more…)
Deals: HNA Capital Leads $46M Series A Round In P2P Lender Weijinsuo
Beijing-based P2P (peer-to-peer) lending start-up Weijinsuo has completed a RMB300 million (US$46 million) series A round of financing led by HNA Capital Group Co., Ltd., the financial services arm of Chinese conglomerate HNA Group, according to an announcement (in Chinese). (more…)
Deals: Latvia’s Mintos scores €2M investment for P2P loans marketplace
By Steve O’Hear for Techcrunch.com
Latvia’s , a fintech startup that operates a p2p loans marketplace to let investors invest in various loans from a growing number of loan originators, has raised €2 million in seed funding. Backing comes from Riga-based VC Skillion Ventures. (more…)
The State Of P2P Lending
by Sonny Singh for techcrunch.com
Peer-to-peer (P2P) lending became one of the hottest industries in fintech — or any other any industry — in 2015. Companies raised large venture rounds, investors found unicorns and there were even a couple of IPOs. (more…)
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…)
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…)
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’s Biggest Ponzi Scheme Shows Rot in Internet Financing
By Bloomberg news,
Almost overnight, Ding Ning and Zhang Min struck it rich with the hot new thing in Chinese finance. In 18 short months, they transformed an old-line industrial company into an Internet phenomenon through the seeming magic of peer-to-peer lending. (more…)
Deals: This Singaporean fintech startup just raised almost $1m, pre-launch
By Nadine Freischlad for Techcrunch.com
AlgoMerchant, a Singapore-based fintech company, has closed a S$1.3 million (roughly US$910,000) seed round led by East Ventures. The startup still operates in closed beta. It plans to use the funds to develop the product, accelerate user growth, and hire new people. (more…)
Lydia Becomes A Serious Alternative To Cash To Pay Back Your Friends In France
By Romain Dillet for techcrunch.com
French startup Lydia has come a long way. When I first covered it two years ago, it wanted to become a sort of Venmo for France. Now, Lydia tries to cover a wide array of use cases when it comes to sending or requesting money. Today’s update goes one step further. (more…)
China to tighten regulations for booming internet finance to curb fraud
Chinese authorities are planning to tighten regulation of its fast-growing internet finance industry and crack down on illicit transactions, state media reported on Saturday, as the country works to rein in fraud on its online lending platforms. (more…)
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…)
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…)
TransferWise did less than £6.5 million in sales last year despite being worth $1 billion
By Business Insider,
Hot British online money transfer startup TransferWise is officially a “small company.” (more…)
Beijing-based P2P lending platform completes million dollar financing
By Wendy Tang for AllchinaTech.com
Junrongdai.com, a Beijing-based peer-to-peer (P2P) lending platform, has completed its first round of funding of about a dozen million USD from Chun Xiao Capital on Tuesday, Sina Tech reported. (more…)
UBER & Zopa Hook Up to Help Drivers Purchase Cars
CROWDFUND INSIDER: Zopa, 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…)
Fidor Eyeing Expansion to the US: What it Could Mean for Bitcoin
DIGITAL CURRENCY MAGNATES: Fidor is not your ordinary bank. You can actually sign into your account through Facebook Connect. They have offered a savings account with an interest rate determined by the number of Like’s awarded on the company’s Facebook page. Customers can interact in the Fidor online community with each other and even support staff, should they have inquiries. They also offer P2P loans through crowdfunding and P2P betting. So it’s only natural that they’ll take a liking to P2P currencies. (more…)
