Crowdlending platform Lend raised CHF3.5 million ($3.47 million) from Polytech Ecosystem Ventures and other angel investors; the round will help the platform to continue building out their brand, upgrading their automation and increasing their marketing spend for Switzerland; Lend launched in January of 2016 and has thus far funded 300 loans; in addition to the funding Lend was also able to secure two new team members, Dr. Stefan Jaecklin, former head of Oliver Wyman Switzerland, and Dr. Luzius Anderegg, senior software developer at software company Ergon Informatik. Source
Latest
Online Lending
Goldman Sachs is estimating a 500% return on its initial investment of $550 million in credit data provider TransUnion; the investment began in 2012 when Goldman Sachs bought TransUnion; since then TransUnion has gone public with shares opening at $22.50 on June 25, 2015 and currently trading at $38.23; Goldman Sachs has also earned $50 million from TransUnion's IPO and debt underwriting; additionally, Goldman Sachs is reporting a number of other advantages from the investment including support for its newly launched consumer lending platform Marcus which is a client of TransUnion. Source
Understanding the millennial customer is a key for most lenders in the market today and Stephen Dash of Credible explains how his firm handles this challenge during his fireside chat at LendIt USA 2017 with Dakin Campbell of Bloomberg; identifying who the millennial is and how they consume information will help you to tailor your products to this group; 25% of consumers today fall into the millennial category and Credible believes a strong, focused product set will help them to service this generation efficiently; before looking to sell other types of services you must first build a relationship with them, trust can be eroded in an instant; ensuring a compelling value proposition is the key and fully understanding what the customer needs will help you to hold that customer over the lifetime; ultimately customers are co-owned and you can help to make sure your relationship lasts by showing a loyal and durable product set. Source