Marketplace Lending

Marketplace Lending Association Announces 11 New Members

January 12, 2017
Article by:

Marketplace Lending Association

WASHINGTON, Jan. 12, 2017 /PRNewswire/ — The Marketplace Lending Association (MLA) today announced the addition of eleven new companies to the Association. The new members join as the MLA works to expand its presence in Washington. The MLA was formed in 2016 by founding members Funding Circle, Lending Club, and Prosper Marketplace with the goal […]

View Post

Funding Circle announces $100 million equity investment to help thousands more small businesses globally

January 11, 2017
Article by:

Sam Hodges Funding Circle

Round led by Accel, with participation from other existing equity investors Investment comes as UK business reached profitability for Q4 2016 Lending through Funding Circle passes $3 billion globally, benefitting over 25,000 businesses in the UK, US and Europe – creating more than 50,000 new jobs Funding Circle, the world’s leading lending platform focused exclusively […]

View Post

Two U.S. Senators Say ‘Not So Fast’ to OCC’s Plans for Limited Charter

January 10, 2017
Article by:

Senator Sherrod Brown & Senator Jeffrey Merkley

The limited fintech charter concept is meeting resistance from prominent Senate Democrats Senator Sherrod Brown (D) and Jeffrey A. Merkley (D) both believe that the OCC does not possess the authority to grant the limited purpose charters it plans to move forward with. In a letter penned to Comptroller Thomas Curry on Monday, Brown and […]

View Post

Confessions of a Fintech Chief Data Scientist

January 8, 2017

Data Scientist

My name is Justin Dickerson. For most of 2016, I was the Chief Data Scientist at Snap Advances (Snap), a funding company of merchant cash advances based in Salt Lake City, Utah. I can’t discuss my awesome work at Snap for obvious reasons. And fortunately, I don’t need to in order to make the key […]

View Post

My Marketplace Lending 2017 Projections

January 8, 2017
Article by:

2017 projections

LendIt co-founder Peter Renton has projected that there won’t be any new industry IPOs this year. While I don’t know if I’d say he’s wrong (a year is a long time), one thing that has changed since 2014 is a shift away from the “tech” label. When OnDeck went public, they positioned themselves as a […]

View Post

My Three Year Anniversary of Investing on Lending Club’s Platform

January 3, 2017
Article by:

3 Years Experience

It’s been three long years since the first month that I ever bought a Lending Club note and to commemorate the event, I decided to go back and see what I did and share what I’ve learned since then. In January 2014, I attempted to buy ten $25 notes for a total of $250, all […]

View Post

Bizfi Hits $2B Origination Milestone; Providing Financing to More Than 35,000 U.S. Small Businesses

December 22, 2016
Article by:

Bizfi

NEW YORK–(BUSINESS WIRE)–Today, Bizfi, the premier fintech company with a platform that combines aggregation, funding and a marketplace on a single platform for small businesses, announced that it has surpassed $2 billion in financing – through both growth and working capital – to more than 35,000 small businesses across America. The Bizfi.com marketplace was launched […]

View Post

Online Consumer Lender Argon Credit Files Chapter 11

December 20, 2016
Article by:

sorry we're closed

“Decisioning as a Service (DaaS), specifically the commercialization of Argon’s machine learning algorithms, is being developed to revolutionize the way credit is evaluated for the entire industry.” That’s according to a press release put out by Chicago-based Argon Credit 19 months ago. The company filed for bankruptcy on Friday, December 16th. Argon offered loans from […]

View Post

A Q4 To Remember – A Timeline

December 18, 2016
Article by:

This article is from deBanked’s Nov/Dec 2016 magazine issue. To receive copies in print, SUBSCRIBE FREE In case you haven’t noticed, it’s been an interesting few months for alternative finance. The below timeline is an expanded version of what appears in the print version of our Nov/Dec magazine issue. 9/27 Able Lending secured $100 million […]

View Post

Fifth Third Bank/ApplePie Capital Deal Great, But Bank Deals For Many Other Business Lenders Still a Pie in the Sky

December 13, 2016
Article by:

Apple Pie

Fifth Third Bank is buying a stake in franchise marketplace lender ApplePie Capital as part of a $16.5 million venture round, the WSJ reported. The prediction that non-banks are evolving into banks is slowly coming true, but will the trend in the commercial space continue? Consider that ApplePie has only made 120 loans over the […]

View Post