• Subscribe
  • Contact Us
  • About LendIt Fintech News
  • Home
  • Menu Item
  • Menu Item
  • Menu Item
  • Menu Item

Lend Academy

LendIt Fintech News: Daily Coverage of Fintech & Online Lending


  • Editorial
  • Daily News
  • Podcast
  • Investor Forum
  • Events

The Biggest P2P Lending News Stories of 2013

December 30, 2013 By Peter Renton Leave a Comment

Views: 15

The Big News of 2103 in p2p lending

As the year winds down it is interesting to look back and think about the biggest news stories of this year. These are the stories that marked the changing course of this burgeoning industry. While a lot certainly happened this year there were a few big stories that really stood out for me.

Here are my top five news stories of 2013 in chronological order.

1. Prosper Raises $20 Million and Brings in a New Management Team (coverage on Techcrunch, Lend Academy)

Prosper had been struggling for a few months and needed an injection of more than just capital. They got the capital they needed as well as a new management team that has brought tremendous energy and growth to Prosper. At the time we did not know how this new team would pan out but they have clearly taken Prosper to a new level when it comes to growth.

2. The Lending Club-Google Deal (coverage in The New York Times, Lend Academy)

The news coverage of this deal was something to behold. Bringing Google on as a partner put Lending Club on the map in the eyes of many people. There were no less than 20 articles in the mainstream press about this deal and the day this story broke was also the biggest day ever in terms of number of visits to Lend Academy. We have not seen the fruits of this partnership yet but I think 2014 may see a formal joint venture between these two companies (although I have no inside knowledge of any developments here whatsoever).

3. Prosper Adds BlackRock as an Investor (coverage in The New York Times, Lend Academy)

As I said at the time BlackRock is the world’s largest asset manager with several trillion dollars under management. The fact that they have made an equity investment in Prosper and are also participating as an investor in the platform is another sign of the maturation of the industry and a huge step forward for Prosper.

4. The Influx of Institutional Investors (coverage in Reuters, Lend Academy)

There was no one event that signified this change from an industry dominated by individual retail investors to one dominated by institutional investors. But in 2013 the climate certainly changed. We started the year with thousands of loans available between Lending Club and Prosper and many would take days or even close to two weeks to fill. No more. Most loans, particularly the higher interest loans, are snapped up in minutes and some even within seconds.

5. Funding Circle Expands to the USA (coverage in The New York Times, Lend Academy)

The online small business lending space is still in its infancy but probably the most successful company in this space globally is Funding Circle. They have issued almost £200 million in loans in the UK and expanding to the USA is a natural progression for them. And the fact that they raised $37 million in venture capital money means they are very well positioned to become a dominant player in small business lending here.

I also want to mention some impressive coverage in Bloomberg, the Wall Street Journal, NPR and the recent Money magazine articles that brought p2p lending to a wider audience in 2013.

What do you think? I know there were certainly plenty of other big stories this year that I did not include. As always I enjoy hearing your feedback.

Filed Under: Peer to Peer Lending

Views: 15

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Investor Intelligence

Peter Renton's Returns

Investor Forum

Lending Club Review

Prosper Review

Investor Resources

Most Popular Editorials

The Pure Marketplace Lending Model is Dead, the Hybrid Takes its Place

The 2018 Lending Club and Prosper Tax Guide

My Returns at Lending Club and Prosper

Map of Available States for Lending Club and Prosper Investors

Banks and Marketplace Lending Platforms: Ideal Partners?

Subscribe to the Podcast

Subscribe to the Lend Academy Podcast on iTunes
Subscribe to the Lend Academy Podcast
List of Podcast Episodes

Archives

Follow @LendAcademy Follow @LendIt

ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

Recent Editorials

  • Top 10 Fintech News Stories for the Week Ending January 23, 2021
  • Podcast 282: Catherine Berman of CNote
  • Crypto Custody Gets Shot in the Arm from Goldman & Anchorage
  • LendingClub Receives Final Approval for its Acquisition of Radius Bank
  • Top 10 Fintech News Stories for the Week Ending January 16, 2021

Copyright © 2021 · Metro Pro Theme on Genesis Framework · WordPress · Log in