Catching Up With Marketplace Lending – A Timeline

| By:

This article is from deBanked’s Jan/Feb 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE

This is the expanded update to the timeline of events taking place in the industry.

12/16 Chicago-based Argon Credit filed for bankruptcy

12/20 Bizfi announced that it had surpassed $2 billion in originations since inception

1/4 Strategic Funding integrated US operations of Capify

1/9 Two US Senators protested the OCC’s plans to create a limited fintech charter

1/11 Funding Circle announced a new $100 million equity round led by Accel

1/12 Marketplace Lending Association announced 11 new members

1/16

  • The WSJ broke a story revealing that CAN Capital had breached its covenants with its big-bank creditors, laid off about 250 staffers, hired a restructuring firm for assistance in negotiating with creditors, and hired Jefferies Group for advice on strategic alternatives
  • NY proposed broad changes to its lender licensing laws

1/17

  • OnDeck announced a partnership with Wex, a provider of corporate and small business payment solutions
  • New York Department of Financial Services protested the OCC’s plans to create a limited fintech charter

1/18 Credible raised $10 million in a Series B round from investors that included Ron Suber, the president of Prosper Marketplace.

1/19

  • LendIt announced finalists of its first ever industry awards
  • Sean Murray of deBanked selected as a finalist for Best Journalist Coverage

1/20

  • Fifth Third announced a partnership with QED Investors to advance fintech strategy
  • President Trump issued an executive order freezing all new regulations

1/25 loanDepot surpassed $100 billion in loans

1/26 LendingRobot launched a marketplace lending hedge fund

1/30 Prosper Marketplace’s EVP of capital markets, Eric Thaller, departed from the company

2/1 Prosper Marketplace appointed new CFO, Usama Ashraf

2/4 OnDeck announced departure of COO James Hobson

2/8

2/13 OnDeck announced a partnership with payroll company Wave

2/14 Lending Club reported a $146 million loss for the year and an increase in bank funding

2/16

This article is from deBanked’s Jan/Feb 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE

Last modified: February 17, 2018

Category: Marketplace Lending

Home Marketplace Lending › Catching Up With Marketplace Lending – A Timeline