Marketplace Lending News Roundup – April 18, 2015

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.

At LendIt this week there was well over 50 announcements so there is no shortage of news. And there was also some great write-ups on some of these announcements. Below are some of the more interesting news coverage of the week.

How Lending Club Is Shaping the Future of Small-Business Loans from Inc. – An in-depth piece on Lending Club and their small business lending program.

Funds rush to pour money into online lending from CNBC – Ari Levy on the growth of the marketplace lending space: “If you need evidence that online lending is exploding, look at the crowd at this year’s Lendit conference”.

Ranger Capital in £155m listing for loan vehicle from City A.M. – Ranger Capital will launch a new £155M fund on the London Stock Exchange.

Larry Summers’ full-throated endorsement of online lending from Fortune – “Technology based businesses have the opportunity to transform finance over the next generation” said Lawrence H. Summers.

LendIt’s significance seen in number of launches from Bankless Times – Coverage of the major news stories and launches from LendIt USA 2015.

China’s Lufax Valued at Nearly $10 Billion in Recent Funding Round from The Wall Street Journal – The marketplace lending company with the highest valuation in the world could well be China’s Lufax at $10 billion.

Why Larry Summers Thinks Alternative Lending Will Save the World from Inc. – More coverage on the Larry Summers address at LendIt USA 2015.

Prosper and OnDeck Get Closer from Pymnts.com – Coverage of the new alliance between Prosper and OnDeck.

Lending Club CEO Discusses New Citi Partnership and Record Growth from TheStreet – Renaud Laplanche discussed the Citi deal right after his LendIt USA keynote.

It’s Official – Prosper is a Unicorn from Pymnts.com – With the latest round of funding announced last week, Prosper is now a unicorn.

The Next Billion Dollar Startups from Forbes – Forbes predicts Avant, SoFi and Orchard will all become billion dollar companies.

Renaud Talks to Jim Cramer from the Lending Club blog – Renaud Laplanche also appeared on Jim Cramer’s show.

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.

New Member – Question about residency – A lender asks if he is able to invest based on the current state in or his legal residence.

Folio Scanner Software – Discussion regarding what tools provide FOLIOfn support.

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Paul
Paul
Apr. 22, 2015 8:52 am

Peter,

I’ve read many of your articles and posts and appreciate the info. I don’t know if this is the appropriate forum for my question, apologies if not.

I am new to LendingClub and live in a state (NC) where I can only invest in the secondary market. I’ve noticed several complaints about the interface / GUI on the secondary platform. My question is, is it really that bad? Maybe it’s the fact that in my career I’ve seen much, much worse tools, but I don’t seem to have issues navigating down to a manageable number of loans for my consideration using the filters.

Has it changed for the better since many of these complaints? Or, is there something that really irks users of the secondary platform that I’m just glossing over?

Thanks,
Paul