Marketplace Lending News Roundup – June 1, 2019

News

During the week I share the latest marketplace lending and fintech 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. 

Where Are We in the Credit Cycle? PeerIQ’s Consumer Credit Digest from PeerIQ – The PeerIQ newsletter is out with the latest news of the day and they also review earnings transcripts and comments from bank execs to assess their take on where we are in the credit cycle.

A Goldman Sachs rival pulled out of the Apple Card deal on fears it will be a money loser from CNBC – Interesting new details are being revealed about the upcoming Apple Card and which banks were in the running to win the business before Goldman Sachs became the partner bank.

Digital upstart tries to crack Mexico’s rigid banking market from Financial Times – The most important (and successful) new digital bank in Latin American is Brazil’s fintech unicorn Nubank . They are now setting their sights on Mexico.

This fintech drove billions in deposits to EU banks. Can it work here? from American Banker – If you haven’t heard of Raisin yet you will soon. The German fintech leader has garnered a huge amount of deposits in Europe (€13b) and they are launching in the US soon.

Lending start-up SoFi closes $500 million funding round, led by Qatar from CNBC – It is now official. SoFi has closed a $500 million funding round led by the Qatar Investment Authority, valuing the company at $4.3b which is roughly the same valuation as their last round two years ago.

Silicon Valley fintech Plaid pushes into UK market from Financial Times – Another US fintech leader is expanding to the UK. Plaid already has two customers and has integrated eight of the largest banks there.

The digital banking revolution is here. So why are so few people putting their salaries into app-only bank accounts? from Moneywise – In the UK the digital banking revolution seems to be in full swing but only 12% have fully switched to a digital only bank.

Less than 1 year after launching its corporate card for startups, Brex eyes $2B valuation from TechCrunch – Two year old credit card startup Brex is in the process of raising yet another funding round that will likely see their valuation top $2b.

Are banks still necessary? The view from China in 4 charts from Tearsheet – Quick primer on the Chinese fintech market and why it leads the world.

$4.3 billion startup SoFi plans to buy the naming rights to Los Angeles’ new NFL stadium for $400 million from Business Insider – Fintech might get its first football stadium as SoFi considers buying to right to the new Rams NFL stadium.

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