Post Tagged with: "Lending Club"

What Does The Credify Story Tell Us About Market Place Lending And $LC Stock?

What Does The Credify Story Tell Us About Market Place Lending And $LC Stock?

by November 23, 2016 at 12:00 am 2 comments

This story broke on Wednesday 15 November.  The story is that the founder of Lending Club, Renaud Leplanche, who was ousted in a scandal in May was creating a new venture to compete with Lending Club called Credify. Headlines talked about 2nd Act or Comeback. The story came out inRead More

The Code to the Kingdom: Goldman Sachs Lending Arm Marcus Opens Its Doors

The Code to the Kingdom: Goldman Sachs Lending Arm Marcus Opens Its Doors

by October 14, 2016 at 9:45 am 0 comments

Remember Marcus, the online lending service Goldman Sachs was launching? Well, it’s officially opened… kind of. Applications are accepted so long as you are a client who has received a code by mail offer by the bank, has input the code, and slipped through the golden gates to apply. As we’ve discussedRead More

Alternative Lending Is in Trouble? No One Told Elevate

Alternative Lending Is in Trouble? No One Told Elevate

by September 27, 2016 at 2:09 pm 0 comments

It’s been a brutal year for the alternative lending industry. Scandals, staff cuts, rate hikes, and recently a Lending Club investment posted its first negative return in five years this August. (LendUp also got hit with a $6.3 million fine by the CFPB shortly after this article went to press.) ButRead More

The Most Talked-about Companies at Finovate Weren’t Onstage

The Most Talked-about Companies at Finovate Weren’t Onstage

by September 19, 2016 at 9:13 am 1 comment

The most talked-about companies at Finovate Fall 2016 weren’t even presenting on the stage at the New York Hilton last week. But they represent everything fintech innovators love to love and love to hate: The Succesful Disruptor and The Evil Bank. If Amazon was the North Star — a beacon of simplicity —Read More

Lending Club Mulls Committing Capital to Venture Fund After Brutal 2Q

Lending Club Mulls Committing Capital to Venture Fund After Brutal 2Q

by August 9, 2016 at 11:29 am 2 comments

Lending Club survived a brutal second quarter (barely) and is considering some fundamental changes to thrive going forward. Specifically, the beleaguered marketplace lender will consider committing investor capital to a venture fund. The company’s president and acting CEO, Scott Sanborn, began yesterday’s earnings call by noting that the good news aboutRead More

4 Scenarios for Lending Club – the proxy for Fintech disruption or hype $LC

4 Scenarios for Lending Club – the proxy for Fintech disruption or hype $LC

by July 22, 2016 at 1:00 am 1 comment

When Lending Club did its IPO in December 2014 I declared it as the Netscape moment for Fintech (when it became conventional wisdom that this was going to change the world). I could be accused of contributing to the Fintech hype, which became intense in 2015 with investors flooding intoRead More

Lending Club Underwriting Questioned As Chargeoffs Climb

Lending Club Underwriting Questioned As Chargeoffs Climb

by July 12, 2016 at 12:11 pm 3 comments

Scandals aside, Lending Club has been doing well in the area that mattered — borrowers were paying back their loans. But a new report from the Wall Street Journal indicates that chargeoff rates at Lending Club are up 38% since 2013. This is troubling because credit card default rates decreased over theRead More

Russian Startup Blackmoon Offers ‘Marketplace Lending as a Service’ in U.S.

Russian Startup Blackmoon Offers ‘Marketplace Lending as a Service’ in U.S.

by July 6, 2016 at 11:17 am 2 comments

Marketplace lending in the U.S. has endured difficult times recently, with both Lending Club and Avant announcing drastic cuts in the same week. A startup has arrived from Russia arrived in the U.S. yesterday with a new take on how to approach the marketplace lending puzzle. Moscow-based Blackmoon offers a MPLaaS (marketplaceRead More

Rebuilding Lending Club ‘Brick By Brick’

Rebuilding Lending Club ‘Brick By Brick’

by June 28, 2016 at 3:58 pm 3 comments

Lending Club has had a busy seven weeks, following the scandalous exit of its CEO. After the announcement of its new CEO Scott Sanborn – and the layoff of 179 employees – this morning, Lending Club held an annual Shareholders Meeting, where executives detailed the roadmap to rebuilding volume to its previousRead More

Are Clouds Clearing for Marketplace Lending?

Are Clouds Clearing for Marketplace Lending?

by June 9, 2016 at 10:52 am 1 comment

Marketplace lending space has been through a rough patch lately. Has that affected the volume of investment? Absolutely, but not drastically, according to Pat Grady, partner at Sequoia Capital. “I wouldn’t call it a drought, but more calling off the herd,” he said at the Future of Fintech Conference yesterday.Read More