Tremors are running through the alternative lending space. Prosper raised rates, cut staff, and saw a chilly reception from investors for its latest securitization. OnDeck saw shares slide to 30% of their IPO value. Avant called off several new product launches and also cut staff. Perhaps most ominously, Lending Club CEO Renaud Laplanche suddenly stepped down whenRead More
Post Tagged with: "LendKey"
SEATTLE — The Silicon Valley model for its startups is well-known. Heck, there’s a Wikipedia for it. It centers on a simple principle: build a business that scales, no matter the initial profitability. And then scale it like mad. Or, in technical terms, build a business that has the potentialRead More
Lending Club and Funding Circle do not want to replace banks — they want to work with them. Marketplace lenders such as Lending Club and Funding Circle are often cited as threats to the very existence of banks, but to hear them tell it, they’re more interested in partnering with banksRead More