Marketplace Lending News Roundup – October 17, 2015

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.

SoFi CEO says too many fintech entrepreneurs lack ambition from San Francisco Business Times – SoFi CEO Mike Cagney pulls no punches in this great article by Mark Calvey.

A £4 billion part of the fintech boom is ‘reminiscent of the dotcom bubble’ from Business Insider – I don’t agree with Christian Faes about p2p lending being a bubble, but his other sage comments makes this a must read.

Peer-to-peer lending: banking industry’s wake-up call from The Nation – “Any forward-looking bank will recognise the potential of P2P lending” Anju Patwardhan at Standard Chartered.

Breaking News: Trustbuddy Suspends Operations – Investigations on Misconduct from P2P-Banking – Some trouble at Swedish short term p2p lender Trustbuddy.

Going Mainstream from the LendIt Blog – John Goodall of Landbay talks about taking p2p lending mainstream.

U.S. Treasury Request For Information Gets Nearly 100 Responses from Orchard – David from Orchard gives his take on the Treasury RFI responses.

Property loan fund to launch in P2P boom from Financial Times – Another listed fund will launch soon in the UK, this one from LendInvest focused on property.

Lending Club Is Ready To Beat The Market from Seeking Alpha – This writer thinks that Lending Club stock is poised for growth and lays out a detailed argument why.

Loan Platform Kabbage Raises $135M At A $1B Valuation, Grows Credit Line to $900M from TechCrunch – The latest fintech unicorn is Kabbage who just raised $135M at $1B valuation.

FinTech: We meet Rhydian Lewis CEO and founder of RateSetter from PwC – Interesting interview with Rhydian Lewis, CEO of RateSetter by PwC.

P2P lender TrustBuddy halts operations over ‘misconduct’ from Financial Times – More perspective on the Trustbuddy collapse by Judith Evans in the Financial Times.

Lending Club Opens to Investors in Missouri, South Carolina, and Tennessee from PR Newswire – Love to see new states coming on board at Lending Club, now at 39 total. Welcome MO, SC, TN investors.

Harmoney Adds Prominent Names to Advisory Board from Crowdfund Insider – New Zealand p2p lending platform Harmoney has added some A-List players to advisory board.

Lending Club’s New Business Line of Credit Offers Small-Business Owners Choice from NerdWallet – This week Lending Club announced the launch of a small business line of credit product.

Prosper Marketplace at Upcoming Industry Events from Prosper – The folks at Prosper have a busy next few weeks of conferences starting with LendIt Europe next week.

From What State Can You Invest On Lending Club In? from LendingRobot – The complete up to date list of states available to investors at Lending Club.

This is what would happen to peer-to-peer returns in another financial crisis from The Telegraph (UK) – While not as definitive as the headline would suggest an interesting look at the UK platforms resilience in a financial crisis.

How Prosper Discovered The Missing Piece To Take Marketplace Lending Mainstream from Forbes – Zack Miller gives his perspective on the recent Prosper acquisition of BillGuard.

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.

Please explain the loan volume at LC – Lending Club investors discuss loan volume.

Madden vs Midland – Forum members discuss the Madden vs Midland case and speculate whether it will affect the p2p lenders or not.

What Percentage of Your Investments Should be in P2P Lending? – Revisited  – Investors continue the discussion around how much of your investments should be in p2p lending.

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