In December 2017 LendingClub launched their new certificate investment vehicle. This was a way for certain institutional investors to buy whole loans because the investment was structured as a pass through security with its own CUSIP and traded on OTC markets. These CLUB certificates became very popular and they have now issued more than $2 […]
Today’s News
- Robinhood Raises Massive $323mn Series E RoundNo fee stock trading app Robinhood has just raised a giant $323mn series E round that now values the fintech at $7.6bn; the company last raised a similar size round in May of 2018 which then valued the company at $5.6bn; this new round was led by DST, with participation from Ribbit Capital, NEA, Sequoia […]
- Betterment Rolls Out a New Banking ProductLeading robot-advisor Betterment announced a new banking product today called Everyday; their new cash management account will be called Everyday Savings; it offers a competitive interest rate of 2.69% on the entire balance with no minimums and no withdrawal limits; Everyday Savings is an FDIC-insured savings account with up to $1 million of protection by […]
- MoneyLion Closes $100 Million Series C Funding RoundMoneyLion is joining the hordes of fintech companies with big funding rounds in 2019; they closed $100 million in equity financing led by Edison Partners and Greenspring Associates with additional funding from MetaBank, Fintech Collective and Capital One; the valuation was reportedly just under $1 billion; MoneyLion also disclosed they have raised an additional $60 […]
LATEST PODCASTS
Podcast 207: John Dancu of IDology
Identity verification has been around for decades, ever since the advent of the driver’s license and social security cards. But in the digital age where anyone has the ability to conduct financial transactions remotely it has become more challenging. And with all the data breaches that have been happening today companies are less secure in […]
Podcast 206: Rishi Khosla of OakNorth
The fintech space has done a decent job of helping small businesses get more access to capital. Obviously, there is more work to do there but the situation is much better than what it was a decade ago. But for growth companies looking to borrow more than $500,000 good fintech-based options are still lacking. My […]
Podcast 205: Alex Lintner of Experian
The large credit bureaus do an excellent job of aggregating data and providing credit scores for the majority of the population. But there are still tens of millions of people who remain unscored and one credit bureau is doing their best to try to change that. My next guest on the Lend Academy Podcast is […]