Post Tagged with: "Prosper"

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

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

Marketplace Lending Depends on Savers Moving on From Bank Deposits

Marketplace Lending Depends on Savers Moving on From Bank Deposits

by June 3, 2016 at 3:03 am 2 comments

The Fintech is dead meme is now in full flood. Authoritative sources such as this Deloitte report (with sensationalist headline from Business Insider) add credibility to this meme.  This feels like the Internet is dead consensus in 2002. At the time I vividly recall the relief with which media companiesRead More

Grip of Liquidity Crisis Tightens on Lending Club, Prosper

Grip of Liquidity Crisis Tightens on Lending Club, Prosper

by May 27, 2016 at 11:57 am 2 comments

Alternative lenders are looking for, well, alternatives to survive tough times. Matt Harris of Bain Capital Ventures commented to Bank Innovation last Friday that alternative lenders might need to give up equity or make other concessions in order to secure funding. He was proven correct just days later when ProsperRead More

Is Alternative Lending Terminally Ill?

Is Alternative Lending Terminally Ill?

by May 24, 2016 at 1:31 pm 3 comments

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

Searching for the Priceline of Fintech after Lending Market Meltdown Week

Searching for the Priceline of Fintech after Lending Market Meltdown Week

by May 16, 2016 at 2:00 am 1 comment

You could have bought Priceline stock below $10 in 2001. For many years you had little to show for it. From then until 2008, you had some appreciation, but not much. Then the stock shot up above $1,000 (as of writing it is $1,261). Yes that is 100x return fromRead More

Yet Another Association for Marketplace Lending Launches

Yet Another Association for Marketplace Lending Launches

by May 6, 2016 at 10:50 am 3 comments

That’s what the industry needs: competing marketplace lending associations. Today, the three big names in marketplace lending (for now — more on that below) that were not in the just-launched Marketplace Lending Association have formed the Innovative Lending Platform Association. This is Funding Circle, Lending Club and Prosper Marketplace of the Marketplace LendingRead More

OnDeck Is Largely Ditching Marketplace Lending

OnDeck Is Largely Ditching Marketplace Lending

by May 4, 2016 at 12:19 pm 5 comments

A deep read of OnDeck Capital‘s earnings report yesterday reveals this truth: the company is moving away from marketplace lending. OnDeck is largely ditching funding through marketplace in favor of more traditional sources of capital, such as securitization — no small development considering that OnDeck is a standard bearer of the marketplaceRead More

Self-Regulation Said to Be a Goal for New Marketplace Group

Self-Regulation Said to Be a Goal for New Marketplace Group

by April 8, 2016 at 10:28 am 2 comments

Marketplace lenders are getting together — well, three of them, anyway. Marketplace lenders Funding Circle, Lending Club and Prosper announced Wednesday the formation of the Marketplace Lending Association, a nonprofit organization that will “promote responsible business practices and sound public policy to benefit borrowers and investors.” It’s a move likely influenced by theRead More

Ripple Stakes Out Its Territory: Payments

Ripple Stakes Out Its Territory: Payments

by March 1, 2016 at 9:51 am 0 comments

SEATTLE — Ripple is working with more banks than R3 or Digital Asset Holdings, and is narrowly focusing on cross-border payments, founder and CEO Chris Larsen said Monday. Speaking at the Bank Innovation conference here, Larsen said Ripple had 90 banks in the pipeline, 30 in pilot, and 10 in production.Read More