Marketplace Lending News Roundup – July 8

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.

CAN Capital Resumes Funding from deBanked – After a crisis and several months of paused operations CAN Capital is back lending again.

Online insurer Zhong An applies for US$1.5bn Hong Kong IPO from South China Morning Post – Zhong An Insurance is one of China’s most promising fintech companies, they just filed for a $1.5B IPO in Hong Kong.

Six months after acquisition, SoFi is shutting down Zenbanx from TechCrunch – SoFi acquired Zenbanx earlier this year but is now shutting down its retail service.

P2PFA Announces New Associate Membership, Publishes Names of First New Members from Crowdfund Insider – The UK P2PFA, the leading association for p2p lending, has opened doors for associate members.

Reflection on 1H2017: Key Trends in the World of Modern Finance from AltFi – Six key fintech trends from the first half of 2017.

What Happened to Bizfi? from deBanked – Looks like another small business lender is in trouble, Bizfi may be close to shutting down.

The European Investment Bank Pledges €18.5 million to Finance Continental European SMEs through Lendix from Crowdfund Insider – This is a big deal for French SME platform Lendix. They have received €18.5M from the European Investment Bank.

The high-tech, low-effort loans winning over online shoppers from American Banker – Good piece by Penny Crosman on point of sale lending and why it is gaining traction.

International P2P Lending Volumes June 2017 from P2P-Banking – Many companies across Europe getting some good traction in marketplace lending. June volumes from wiseclerk.

Orchard & Experian Form Strategic Collaboration Partnership from Crowdfund Insider – New relationship forged between Orchard and Experian to provide enhanced credit reporting.

Marlette Funding Closes $369 Million Securitization Transaction from Business Wire – Another successful securitization from Marlette, a $369M AA-rated deal of Best Egg personal loans (press release).

Just One Third of OnDeck Borrowers Need Human Intervention from Bank Innovation – Automated underwriting at OnDeck now accounts for 2/3 of their loans issued.

UK’s Tide raises $14M to challenge big banks with a mobile-first service for SMBs from TechCrunch – In the UK mobile-first SME banking service Tide has raised $14M and is partnering with iwoca for loans.

LendingPoint CEO On Medical Payments ‘Last Mile’ Problem from PYMNTS.com – Interesting new partnership attacking the healthcare industry’s problem with high deductibles.

Here is the Letter IEG Holdings Sent to LendingClub Board Announcing its “Tender Offer” from Crowdfund Insider – Details of the strange tender offer from IEG Holdings that has been rejected by the Lending Club board.

Unpacking Zhong An’s IPO Prospectus from CB Insights – Zhong An has become the leading online insurance company in China, here is a detailed look at their IPO documents.

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.

PeerStreet test drive – An investor shares their experience investing on PeerStreet’s platform.

Effect of the “Balance of all Accounts” on Defaults – A forum member asks how total debt balance effects loan performance.

Worst Month Yet, Prosper Version – A forum member updates charts on their personal performance with Prosper.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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