Online Lenders Find VC Capital Hard to Come By

U.S. fintech funding reached its highest level in 5 years in 2018 but the online lending market is finding it hard to secure venture capital; established lenders on the one hand are not having trouble but emerging lenders are not able to raise the capital they need; data released from GLI finance highlights these issues as the firm reported a profit of $133,630 in 2017 but had losses of almost $3mn in 2018; the firm also revealed a $25.93 million write-off across eight portfolio platforms last year, which they attributed to problems obtaining growth capital; the collaboration with banks has started to help platforms as they have found an appetite for their technology to help banks to become for advanced. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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