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Online Lending

·Apr. 6, 2017

Lend Academy Article: PeerIQ Releases Marketplace Lending Securitization Tracker Q1 2017

Lend Academy provides highlights from PeerIQ's Q1 2017 securitization market report in their article; total marketplace lending securitization issuance for the first quarter was $2.9 billion and all of the quarter's securitization deals were rated by a rating agency; SoFi leads the market in securitizations with nearly $9 billion representing 51% of the market's deal value. Source

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Europe News Roundup Online Lending

·Apr. 6, 2017

MarketInvoice Reporting Ambitious Plans for Business Growth

The UK's MarketInvoice, a working capital lender for businesses, has been gaining significant market traction and is reporting ambitious plans for future business growth; it is estimating total lending of 2 billion British pounds ($2.5 billion) by the end of the year and is planning to offer its service to incumbent banks; the firm has also appointed Zopa's Giles Andrews as its chairman and hired Shaun Alexander as head of risk to improve its risk reporting, integrate more artificial intelligence programming and facilitate greater deal communication with large traditional banks. Source

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Fintech News Roundup Online Lending Real Estate USA

·Apr. 6, 2017

Fundrise Files for a For-Sale Housing eFund

Fundrise plans to offer a new fund that invests in the development of homes for sale in Los Angeles, California; investors in the fund will be investing in a diversified portfolio of real estate properties in development and for sale with the option to buy homes in the portfolio; investors will receive distributions from the fund's operating cash flow which will primarily be generated from the sale of homes in the fund; distributions may also be made from other sources of cash flow including structured equity or debt. Source

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News Roundup Online Lending USA

·Apr. 6, 2017

LendingRobot Launches New Product for Institutional Investors

Building on the success of the LendingRobot Series Fund announced in January 2017, LendingRobot has launched LendingRobot Professional; the product has new advisor-focused features and functionality and can be optimized by advisors for multiple clients; it has an advisor minimum of $250,000. Source

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Asia/Pac News Roundup Online Lending

·Apr. 6, 2017

Tradeshift Announces Partnership with CreditEase for Financing App

Tradeshift operates a marketplace for businesses, allowing them to manage supply chain buying and selling; through the partnership with CreditEase, the two firms will develop a financing app that will facilitate lending to Chinese businesses on the Tradeshift platform; according to Tradeshift, the new app will provide a peer-to-peer financing option for hundreds of thousands of China-based exporters. Source

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News Roundup Online Lending USA

·Apr. 6, 2017

LendingHome Announces Individual Investors Milestone

Individual investors have now invested $100 million of the company's $1 billion funded; the investments have been growing at a fast pace with the platform launching in January 2016 and doubling its $50 million investment level from mid-October of 2016; LendingHome markets returns of 8.75% and requires a $50,000 opening balance with a minimum investment of $5,000; at the LendIt USA 2017 event the firm received the 2017 Top Real Estate Platform award. Source

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News Roundup Online Lending

·Apr. 6, 2017

LoanHero Announces Three New Executives

LoanHero has appointed three new executives: Zalman Vitenson, Olaf Janke and Michael Sides; Vitenson will take the CEO role, Janke will be the firm's new CFO and Michael Sides has been hired as the firm's vice president of sales; LoanHero provides an innovative technology loan origination platform for point of sale lending. Source

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News Roundup Online Lending USA

·Apr. 5, 2017

Kabbage Announces $3bn in Funding

Small business lender Kabbage has announced a new milestone with total lending originations of over $3 billion; firm has provided loans for over 100,000 small businesses; helping to reach the new high, the firm provided 20,000 loans in March and reports $1 billion in funding serviced in less than a year. Source

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Europe News Roundup Online Lending

·Apr. 5, 2017

RateSetter Creates New Risk Committee

RateSetter has created a new committee to monitor and report on expected losses providing increased transparency for the firm; the committee will include RateSetter's CEO, CFO and various other directors of consumer and commercial credit risk; the committee will provide quarterly reporting on expected losses for the board of directors and also plans to publicly disclose data on its website; additionally the firm plans to enhance its performance reporting with more details on materialized and expected losses; overall, new initiatives around risk monitoring are an effort to more accurately analyze and manage risk following higher than expected losses from loans in 2014 and 2015. Source

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News Roundup Online Lending USA

·Apr. 5, 2017

Lantern Credit Appoints New Board of Advisors Chairman

Lantern Credit has appointed John Mack as its new chairman of its board of advisors; the company works to provide credit solutions for inefficiencies through its technology platform; Mack brings experience from roles as chairman and CEO of Morgan Stanley, co-CEO of Credit Suisse Group, CEO of Credit Suisse First Boston and various other roles on corporate boards including Lending Club. Source

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