Marketplace Lending News Roundup – June 3

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.

Behind the Scenes at Orchard Platform, a Struggle to Innovate from The New York Times – The long and winding road of Orchard’s plans for a secondary loan market.

Weekly Industry Update: Blackrock’s Consumer ABS ETF and Parallels to the High Yield Bond Market from PeerIQ – This week PeerIQ takes a look at the growth of the high yield bond market.

Peer-to-peer lender RateSetter raises £13m, Woodford and Artemis lead from AltFi – In the UK RateSetter has closed another £13M equity round as they get closer to full FCA approval.

SoFi and JetBlue Help Customers Managing Student Loans Earn Reward Travel from PR Newswire – This week SoFi announced that you can earn up to 50,000 JetBlue reward points by refinancing a student loan.

Banco BNI Europa Partners with P2P Lender Raize with €10 Million Lending for SMEs from Crowdfund Insider – Lisbon-based digital bank BNI Europa makes a second investment in a p2p lending platform.

Goldman Sachs’ new online lending business is changing the bank’s culture from Business Insider – Some commentary from Business Insider about my recent podcast interview with the COO of Marcus.

Victory Park Capital fund toughens fees, exits Funding Circle US loans from AltFi – Victory Park’s UK fund has introduced a new 5% hurdle as they transition to a direct lending model.

Peer-to-peer lending giant Zopa confirms £32m fundraise from AltFi – Now, it is Zopa’s turn. They have just raised £32M in equity led by an Indian conglomerate.

Did someone cancel the fintech revolution? from Finextra – The promise of fintech has not yet been released says Accenture in a new report.

Kind of Blue from FinTech Junkie – The latest from Frank Rotman comparing startups to jazz and what to do when you hit a wrong note.

International P2P Lending Volumes May 2017 from P2P-Banking – The May European p2p lending loan volumes are out with Funding Circle the top platform again.

Are Small Business Borrowers Bank-Loyal to a Fault? from deBanked – Despite low approval rates banks are still the top choice for entrepreneurs looking for a loan.

Credit Scores Hit Record High as Recession Wounds Heal from The Wall Street Journal – Good news for lenders? Average credit score nationwide just hit 700, the highest since at least 2005.

The impact of the latest adjustments in peer-to-peer/marketplace lending from AltFi – Good summary of the latest developments at the big four marketplace lenders in the UK.

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.

Is Folio dead? – Forum members discuss buying newly issued notes on the secondary market in the most recent replies.

2015 & recent loan quality – Investors talk about how calculating credit scores has changed over the years and how it may have an impact on perceived risk of borrowers.

Lending Club Collection Actions – Forum members discuss Lending Club’s collections efforts.

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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