Catching Up With Marketplace Lending – A Timeline

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This story appeared in 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: August 13, 2018

Category: Marketplace Lending

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


    Legacy Capital Group

    Redstone Advance

    Monetaria

    Banana Exchange

    Legend Funding

    Highland Hill Capital

    Unique Funding Solutions

    Total Merchant Resources

    ROK Financial

    Bitty Advance

    CAN Capital

    ByzFunder

    Global Funding Experts

    Hunter Caroline

    Vox Funding

    National Funding

    Central Diligence Group

    United Business Funding

    CounselorLibrary

    Proventure Capital

    CFG Merchant Solutions

    Queen Funding

    ROC Funding Group

    CapFront

    Thor Capital Group

    Meridian Leads

    Accord Business Funding