Upstart has been quietly doing something that many others have found difficult: building a profitable online consumer lending business. I caught up with Upstart CEO, Dave Girouard, recently to talk about the state of his business and where he sees the biggest opportunities today. To date Upstart has issued $2.8 billion in consumer loans which […]
Today’s News
- Funding Circle UK Receives a £1 Billion Funding CommitmentIn the UK Funding Circle gets another huge funding commitment. US-based asset manager Waterfall Asset Management has committed £1b in funding for UK small business loans originated by Funding Circle over the next two years. This comes just three months after Alcentra, part of BNY Mellon, agreed to purchase $1b of loans from the peer-to-peer […]
- Sunrise Banks Uses Fintech Partnerships to Grow and Serve the UnderbankedMinnesota based Sunrise Banks has become more than a traditional community bank by helping to serve the underbanked through prepaid cards and partnering with fintechs to grow nationally and globally; they want to be considered the go to bank for fintech firms and have worked at that goal by sending staff to meet with startups […]
- Traditional Lenders Should Not Ignore Small Dollar Business LoansRather than bemoan the fact that they can’t make small loans to businesses because they are too costly banks should look at streamlining their processes to become more efficient. By ceding this space to the online lending platforms banks and credit unions are giving relationships away. This means they could be losing the long game and […]
LATEST PODCASTS
Podcast 178: Charlie Moore of Global Debt Registry
The securitization industry has yet to really be disrupted. It operates basically the same way it did a decade or even two decades ago. But that may be about to change. Today, there are some fintech companies looking to bring the entire securitization process on to the blockchain to reduce cost and increase transparency. One […]
Podcast 177: Rania Succar of Quickbooks Capital
Quickbooks has been synonymous with small business accounting for several decades now. But they recently launched Quickbooks Capital to provide their small business customers with an easy and transparent way to borrow money. Our next guest on the Lend Academy Podcast is Rania Succar. She was hired away from Google to head up this new […]
Podcast 176: Anil Stocker of MarketInvoice
In the UK, Barclays is one of the “big four” banks with more than £1 trillion in assets. MarketInvoice is the leading fintech company that specializes in invoice finance, and though it is relatively large it will only lend around £1 billion this year. Despite the difference in size, or maybe because of it, Barclays […]