Marketplace Lending News Roundup – October 3, 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.

Online lending is ‘disruptive and could be very large’ – that has the Fed worried from Business Insider – St. Louis Fed president on marketplace lending.

EIB turns to peer-to-peer lending for UK companies from Financial Times – First the British Business Bank, now the European Investment Bank, is investing big in Funding Circle UK.

NSR Invest Adds MonJa’s P2P Analytical Tools in New Partnership from Crowdfund Insider – Our sister company NSRInvest is working with Monja for analytics and reporting.

The future of banking will surprise you from CNBC – Interesting thoughts from Jon Barlow, the former CEO and founder of Eaglewood Capital.

Online Small-Business Loans and ACH Payments: What You Need to Know from NerdWallet – A comparison of the online small business lenders and how they accept payments.

Small businesses look to peer-to-peer lending for funding (Video) from Fox Business – Maria Bartiromo talks with Sam Hodges of Funding Circle USA about small business lending.

Exclusive: Online lender Avant raises $325 million and joins unicorn club from Fortune – Congrats to Al Goldstein and the Avant team on the funding round announced this week.

Reputation, Regulation and Retail – An Interview With Renaud Laplanche from AltFi – In depth interview with Renaud Laplanche of Lending Club by AltFi News.

Credible, The Marketplace For Student Loans, Closes $10 Million Series A Funding from TechCrunch – Student loan marketplace Credible has raised $10M in a series A.

Cloud Lending Solutions Announces $8M Fundraising Round from American Banker – Now it is Cloud Lending’s turn. They have closed an $8M Series A led by SF Capital.

SoftBank Makes $1 Billion Fintech Bet With SoFi Investment from The Wall Street Journal – More on the $1 billion SoftBank investment in SoFi. CEO, Mike Cagney: “I don’t see any reason why we can’t replace one of the largest U.S. banks. I say that with all humility.”

After the fall: boost for China’s P2P lending platforms as jittery market investors eye havens from South China Morning Post – In China platforms like Lufax are benefiting from the volatile stock market, adding one million investors a month!

Renaud Laplanche: Our Ability to Embrace Transparency as an Industry is Really Important from Crowdfund Insider – Renaud Laplanche talks about their Treasury RFI response and the potential for new regulation.

Prosper Resurgent: The Original Marketplace Lender Experiencing Exponential Growth from Forbes – How Prosper has gone from a $20M valuation in 2013 to a unicorn today.

Crossing $5 Billion and Advancing Financial Well-Being from the Prosper Blog – The milestones keep coming for Prosper. They have just crossed $5B and had their first billion dollar quarter.

Nonbanks, Tech Firms Poised to Steal Banks’ Business: McKinsey from American Banker – Prediction from McKinsey: By 2025, banks could lose 60% of their profits in consumer finance.

Choosing to crowdfund the real estate market from CNBC on Yahoo Finance – Nice interview with Jilliene Helman of Realty Mogul on CNBC talking about real estate crowdfunding.

International P2P Lending Statistics – Loan Volumes September 2015 from P2P-Banking.com – The European P2P lending loan volumes for September are out with Zopa leading the way again.

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.

More lates in past two months – Forum members compare portfolios to see if the number of late loans in their portfolio are trending up.

Time for LC to Raise Interest Rates? – A forum member asks whether it is time for Lending Club to start raising rates.

I haven’t seen any “new” 13 day loans in weeks – Lenders on Lending Club discuss loan volume on the platform.

 

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