During the week I share the latest marketplace lending news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.
Transaction Profile: Prosper Marketplace Secures $165 Million in Series D Financing from FT Partners – In depth 52-page profile of Prosper from Financial Technology Partners.
Money Lender OnDeck Q1 Earnings Beat, Outlook Light from Investor’s Business Daily – OnDeck reported their Q1 earnings. Revenue up 98% year over year with a lower than expected loss.
Goldman’s Newest Business: Online Lending To The Little Guy from BuzzFeed News – Big news. Goldman Sachs may be getting into the marketplace lending business reports Matt Zeitlin.
Detailed regulations to be issued by China for P2P lenders within a month from South China Morning Post – This will be a watershed moment for the Chinese p2p lending industry, regulations are coming soon.
Rejected Loans on LendingClub – The Post-IPO Edition from Orchard – Fascinating post about Lending Club loan approvals down from 14.4% in December 2013 to 5.8% in December 2014.
International P2P Lending Marketplaces – Loan Volumes April 2015 from P2P-Banking – The monthly p2p lending loan volumes are in for April and we have a new #1 in Europe – Zopa.
Victory Park Capital Provides $50 Million Credit Facility to The Credit Junction from Victory Park Capital – The deals keep coming from Victory Park, this time a $50 million facility with The Credit Junction.
Funding Circle partners with the NSBA to help Main St. get better access to growth capital from PR Newswire – Funding Circle has partnered with the National Small Business Association, thus adding another borrower channel.
Sharestates, LLC Announces $30MM Transformational Investment by Ranger Capital Group from Sharestates – Recent LendIt conference speaker Allen Shayanfekr from Sharestates land $30 million commitment from Ranger.
Lending Club: We’re growing fast from NBC News (video) – Renaud Laplanche of Lending Club on CNBC talking about their Q1 earnings (video).
Uber teams up with peer-to-peer lender Zopa to help drivers buy their own cars from City A.M. – 36% of Zopa loans are used to buy vehicles. This will only increase with this partnership with Uber UK.
Surge in P2P Lending Gives Rise to New Business Models from L’Atelier – “As P2P lending platforms gain in popularity, they are tending to become investment products in their own right.”
SoFi and CommonBond want to be More Than Just Your Student Loan Lenders from MainStreet – Both SoFi and CommonBond are expanding beyond their student loan base.
Prosper Breaks Out Peer Lending 2015 from PeerFinance101 – In depth look at Ron Suber’s closing keynote at LendIt USA 2015.
From the people, for the people from The Economist – Excellent piece on the state of marketplace lending in the US and Europe.
What does the General Election outcome mean for the P2P industry? from RateSetter – There was a general election in the UK last week, Ratesetter looks at what it means for our industry.
The Six-Minute Loan: How Kabbage Is Upending Small Business Lending — And Building A Very Big Business from Forbes – Great profile of Kabbage and their innovative approach to small business lending.
Peer to Peer Lending Sites: An Exhaustive Review from LendingMemo – Simon has compiled a complete list of the p2p lending ecosystem.
From the Lend Academy Forum
The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.
Charged-off versus full default – A forum member asks about loan payments when a loan is charged off or in default.
Borrowing against your P2P lending portfolio – This question gets brought up quite often with forum members wondering about leveraging an investment in Lending Club or Prosper notes.
Derivatives for P2P Loans are coming. Rejoice or sulk! – Forum members discuss a new article out this week regarding derivatives for p2p lending notes.