Credibly has been chosen to service BizFi's $250 million portfolio; Credibly also announced it had crossed the $500 million mark in capital deployed to SMBs; this does not include the portfolio of loans being serviced from BizFi; Ryan Rosett, Credibly's founder and co-chief executive officer stated: "Acquiring the servicing rights of BizFi's portfolio is a testament to our data-driven approach and laser focus on the working capital needs of small businesses. We welcome our new customers and are committed to ensuring that their growth capital needs are met." Source
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Marcus by Goldman Sachs was launched in 2016 and marked an important point in the consumer lending industry as they decided to build their own platform from scratch; Ainsley O'Connell from Fast Company interviews head of Marcus, Harit Talwar; Talwar shares what was attractive about getting into personal loans and details the Marcus product; stated that there were many consumer pain points and Goldman Sachs was confident they could help; Goldman also has several advantages to give them an edge; not only do they have their own balance sheet, but they essentially built a startup, leaning on 147 years of experience; they also had the advantage that there were no conflicts over any legacy consumer businesses within Goldman; the company worked closely with consumers to bring to market a product they want which Talwar discusses in the interview. Source