Post Tagged with: "marketplace lending"

SoFi, Coinbase Get the Green Light to Operate in New York

SoFi, Coinbase Get the Green Light to Operate in New York

by January 19, 2017 at 10:09 am 1 comment

Ah, New York: If you can make it here, you can make it anywhere, but to even try, you need a license. Luckily, SoFi and Coinbase just got theirs. After waiting a year, the lender SoFi received the thumbs up to operate in New York, CFO Michael Tannenbaum said recently.Read More

Funding Circle Raises $100mm, Defying Post-Brexit Doomsday Prophets

Funding Circle Raises $100mm, Defying Post-Brexit Doomsday Prophets

by January 12, 2017 at 9:53 am 1 comment

Everything that happened in fintech this week in the U.K. is just plain wrong. Funding Circle raised $100 million for its peer-to-peer lending platform AND notched record lending activity in the final quarter of 2016  — AND pushed its U.K. operation into profitability. Brexit? Shmexit. Oh, the indignity of it.Read More

Transportation Blows Past Fintech in VC Funding

Transportation Blows Past Fintech in VC Funding

by January 11, 2017 at 10:36 am 0 comments

When it comes to venture funding, the grass is (sometimes) greener in the other sector. The transportation sector enjoyed VC spotlight throughout 2016, while the fintech sector was left in the shadow, according to Global Innovation Investment Report release by Crunchbase. Overall, global VC grew 19% year over year, reachingRead More

5 Reasons Small Business Owners Need to Follow Fintech in 2017 [SPONSORED]

5 Reasons Small Business Owners Need to Follow Fintech in 2017 [SPONSORED]

by December 21, 2016 at 10:02 am 1 comment

Fintech, the marriage of finance and technology, has been part of the business world for decades. In recent years, the explosion of innovation has brought even more attention to this sector. As a small business owner, you should keep tabs on the fintech industry. Here’s a few reasons why it’sRead More

OnDeck Adds $200 Million Revolving Debt Facility from Credit Suisse

OnDeck Adds $200 Million Revolving Debt Facility from Credit Suisse

by December 13, 2016 at 9:30 am 0 comments

Small business marketplace lender OnDeck is adding Credit Suisse to its financing toolbox with a $200 million revolving debt facility. Under terms of the deal, OnDeck has access to $125 million, and another $75 million “at the discretion of the lenders.” “OnDeck intends to initially use a portion of thisRead More

11 Ways Fintech and Banking Will Change in 2017 Page 2

11 Ways Fintech and Banking Will Change in 2017 Page 2

by December 9, 2016 at 10:40 am 0 comments

4. Consolidation, and Winners Emerging Brew Johnson and Brett Crosby, Cofounders, PeerStreet Brew: “I think the biggest trends will be consolidation in the marketplace lending and crowdfunding space, and increased partnerships/collaboration between banks and fintech companies.” Brett: “I’d add that we’ll see a widening spread between the healthy businesses andRead More

Elevate Launches Research Body for ‘New Middle Class’

Elevate Launches Research Body for ‘New Middle Class’

by October 25, 2016 at 9:16 am 0 comments

Alternative lending is an area ripe for development and innovation, which is probably why it’s one of the core topics of discussion at this year’s Money20/20 conference currently taking place in Vegas, baby. From the turbulent story of Lending Club to the constant regulatory pressure–as well as fundamental shifts likeRead More

Is the CFPB Ruling Important for the Future of Fintechs?

Is the CFPB Ruling Important for the Future of Fintechs?

by October 17, 2016 at 4:37 pm 1 comment

Recently a federal appeals court decided that the Consumer Finance Protection Bureau—a federal organization designed to safeguard against some of the pitfalls that led to the 2008 crisis—had been operating unconstitutionally, something which is certainly a blow to the agency itself and will no doubt have ramifications for how itRead More

Goldman Sachs Takes on Marketplace Lending with Marcus

Goldman Sachs Takes on Marketplace Lending with Marcus

by August 19, 2016 at 1:27 pm 3 comments

Today it was revealed that banking giant Goldman Sachs will be launching an online retail lending operation called Marcus, after founder Marcus Goldman, as reported by the New York Times, The operation will likely roll out this October, and will start by offering small consumer loans from $15,000 to $20,000. This follows the launch of GSRead 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