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News Roundup North America Online Lending

·Nov. 21, 2016

Lend Academy Podcast: Andrew Graham of Borrowell

Borrowell, a marketplace lender focused on consumer loans, has been in business for approximately two years in Canada with a lot of growth in the small, developing Canadian P2P industry; Lend Academy interviews Borrowell's CEO and Co-Founder Andrew Graham in their podcast; discussion focuses primarily on Borrowell's business model and the company's announcement of the country's first marketplace lending partnership with a major bank; Borrowell has partnered with CIBC in a co-branded partnership that offers consumer loans to CIBC's customers. Source

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News Roundup North America Online Lending Real Estate USA

·Nov. 18, 2016

Real Estate Crowdfunding Platform, PeerStreet, Raises $15mn

Marketplace lender, PeerStreet, has raised $15 million in a funding round led by venture capital firm Andreessen Horowitz; PeerStreet offers secured real estate loans through its lending platform; the minimum investment is $1,000; investors on the platform include high net worth individuals, family offices and institutions; Andreessen Horowitz's Rampell noted the competitive advantages of PeerStreet compared to competitors included their fast growth and distribution model; he stated, "Most companies that are lending to consumers spend all the money in customer acquisition and it is very hard to get a profit." Source

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Fintech News Roundup North America USA

·Nov. 21, 2016

ID Authentication Company, Trust Stamp, Raises Capital

Trust Stamp, who focuses their business on identity authentication that leverages artificial intelligence and blockchain technologies, just raised a new round of funding from Second Century Ventures; the amount of the funding has yet to be disclosed; Trust Stamp uses artificial intelligence software to comb through public records and social media data to provide ID verification to real estate professionals who meet new clients; the new funding will help them to continue building out their technology and integrate blockchain into their processes. Source

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Fintech News Roundup North America Online Lending

·Jan. 11, 2017

More Growth Expected for Canada’s Fintech and Alternative Lending Market in 2017

Canada reported significant growth in online and marketplace lending in 2016; fintech growth in the country was also substantial with Canada reporting a 74% increase in fintech investment; a blog post from Aspire gives a roundup of online and marketplace lending activity in 2016 which included many partnerships and equity rounds; also provides predictions for the market in 2017; among its seven predictions are more bank partnerships and increased institutional investment. Source

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News Roundup North America Online Lending

·Apr. 7, 2017

NewOak Partners with LendingArch for $2bn Investment

NewOak will invest up to $2 billion in loans originated by Canadian online lender LendingArch over the next three years; NewOak will also make a significant contribution to the strategy of the firm; the New York-based asset management and institutional advisory firm will take an advisory role with LendingArch supporting its business development and capital markets strategies. Source

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Fintech News Roundup North America

·Apr. 25, 2017

U.S. Bank and Bank of Montreal Share Their Plans for Technology Investment

U.S. Bank and Bank of Montreal are investing in digital technology to overhaul their websites, mobile apps, call centers and ATMs; the two companies shared their plans with American Banker; common themes from both companies include: 1) invest in what customers are dissatisfied with 2) make incremental enhancements 3) create a unified customer experience 4) establish an innovation team and 5) test emerging technologies. Source

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Fintech News Roundup North America

·May. 20, 2019

Mexico’s Central Bank Pilots Digital Payment System

Mexico’s central bank, Banxico, is trialing Cobri Digital (CoDi) with employees of all the major banks in the country; CoDi...

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Fintech News Roundup North America

·Dec. 15, 2016

NCFA Publishes Report on Crowdfunding Market in Canada

The National Crowdfunding Association of Canada (NCFA) has published a report providing insight on the country's crowdfunding market; identifies a need for regulation that will help support the industry's growth while also setting standards for the market overall; predicts transaction value of $190 million for 2016; says the industry has grown 48% from 2013 to 2015. Source

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News Roundup North America Online Lending USA

·Nov. 17, 2016

Small Business Lender DealStruck Stops Originating Loans

DealStruck, an online lender for small and medium-sized businesses, has stopped originating loans; the industry environment and slowdown in investor capital has affected the company; the firm's CEO Ethan Senturia said, "Although we are not currently originating new loans, we are continuing to provide our clients with the high-level of service they have come to expect from us."; he also noted, "we’ll be looking for strategic options to allow us to continue delivering on our mission to provide unique, appropriate and affordable financing to small businesses nationwide." Source

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