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Marketplace Lending News Roundup – August 5

August 5, 2017 By Peter Renton Leave a Comment

Views: 238

News

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.

Advanced Analytics And The Future of Digital Lending from The Financial Brand – Banks need to do more than create an app. Digital should be at the core of their lending systems.

Earnings Season Continues—Bank and Card Issuer Charge-Off Trends; GS Select; FinTech Partnerships from PeerIQ – The PeerIQ newsletter looks at loan loss reserves at big banks as well as the outlook for consumer lending.

Revolut’s $5.3 million crowdfunding campaign is oversubscribed from TechCrunch – UK neobank Revolut is on a roll. Their latest crowdfunding campaign is massively oversubscribed.

Mobile bank N26 launches loans with credit marketplace Auxmoney from Banking Technology – Another interesting fintech/bank partnership. Digital bank N26 has partnered with German platform auxmoney.

Banco BNI Europa names German marketplace lender Creditshelf as latest partner from AltFi – The second German fintech partnership of the week: BNI Europa is partnering with Creditshelf.

John Mack-Backed Data Startup Announces New Funding and Partners from Bloomberg – It was a big week for PeerIQ. They announced a $12M Series A with the likes of TransUnion, Hearst and Macquarie.

Small business loan platform Kabbage nabs $250M from Softbank from TechCrunch – A huge new funding round for Kabbage, an up round with $250M from SoftBank.

SoFi Hints at IPO, Reports Record Results from The Wall Street Journal – SoFi continues to crush it. They earned $62M on $134M in revenue in Q2 with $3.1B in loans.

OCC files motion to dismiss fintech charter lawsuit from American Banker – An update on the fintech charter as the OCC fights back against the state regulators.

International P2P Lending Volumes July 2017 from P2P-Banking – The July marketplace lending numbers are out for Europe with Zopa No. 1 again after a huge month.

Online Lender Prosper Sees Valuation Plummet 70% from The Information – Looks like Prosper is raising another round at a vastly reduced valuation of $550M, down from $1.9B in 2015.

Dianrong raises fresh funds to lend more to families and small firms from South China Morning Post – In China leading online lending platform Dianrong has raised $220M in their latest funding round.

Juvo raises $40 million to bring financial inclusion to emerging markets from TechCrunch – This is the week of big funding announcements. Juvo has raised $40M in a Series B.

Banks see artificial intelligence in their future, but are slow to invest in it from Tearsheet – Interesting results of a survey on the use of artificial intelligence in banking.

LendingRobot Series Second Quarter Report from LendingRobot – The latest report for the LendingRobot Series – a unique marketplace lending investment offering.

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.

Groundfloor – Investors share their thoughts on Groundfloor.

Anyone use Upstart? – A forum member asks for opinions on Upstart.

Strategy of buying notes 1/2 way during their term – Discussion on whether buying seasoned Lending Club notes is a viable strategy.

Consumer distress – Forum members discuss Lending Club’s marketplace model and their ability to compete in the market.

Filed Under: News Roundup

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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.

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