Newsletter Sent On: 04/10/2018

LendItFintech In Photos and Sound Bites Read more

Kabbage, LendingPoint to Offer Real Time Funding Via Push Payments
The two companies each separately announced that they will soon be able to get funds into their customers’ business accounts instantly and 24/7 via their pre-existing bank debit card Read more

Lendr Launches New Business Debit Card
The idea is to offer a product that makes access to capital as easy as 1-2-3, CEO Tim Roach told deBanked. Read more

SoFi Names Michelle Gill Chief Financial Officer
Gill joins SoFi from TPG Sixth Street Partners. Previously, she spent 14 years at Goldman Sachs & Co., where most recently she was a Partner co-heading the Structured Finance business. Gill received her JD from Cornell Law School and her BA from the University of California at Los Angeles. Read more

Best Egg Exceeds $5B and Celebrates Four Years in Business
In 2017, the company experienced originations growth of 66 percent, significantly reduced its customer acquisition costs, and ended the year with 3 straight quarters net income positive on a GAAP basis. Read more

U.S. Regulator to Publish Fintech Charter Position Soon
The head of the Office of the Comptroller of the Currency (OCC) said on Monday it will publish its position on a proposed charter for online lenders and other so-called fintech companies in the next three months. Read more

Liquid FSI Adds Key Board Member
Liquid FSI, a direct lender and creator of the Convert2Pay platform, which provides on-demand payment for medical invoices, added Barry Blecherman to its Board of Advisors. Read more

Fintech Lenders Will Struggle to Regain Mojo Alone
As industry executives head to a major industry confab in San Francisco on Monday, their loan books, and earnings, still look small. And the banks they once dared to threaten have been catching up on tech prowess. Read more

InterNex Capital Fills Void in Higher End of Alternative Lending Market
New York-based Internex Capital is serving the higher end of the alternative lending market by providing revolving lines of credit from $250,000 to $5 million dollars, with an average deal size of roughly $1 million. Read more

Ocrolus Announces $4 Million Investment at LendItFintech Conference
Ocrolus, which provides analysis of financial documents, announced a $4 million Series A investment led by Bullpen Capital with participation from QED Investors, Laconia Capital Group, ValueStream Ventures and RiverPark Ventures. Read more

SoFi Plans to Start Rolling Out Deposit Accounts Next Month
A spokeswoman for SoFi now says the company plans to offer the new accounts to a limited set of customers starting in May. Users will be able to make deposits into an account that functions like a checking account, where they will earn interest and won’t incur fees when transferring money to other SoFi customers or using a company-issued debit card. Read more

PeerStreet Raises $29.5 Million Series B
The Series B round was led by World Innovation Lab. Existing investors Andreessen Horowitz, Thomvest, Colchis Capital, Felicis Ventures, and others participated along with new investors Solon Mack and Navitas Capital. The raise will accelerate PeerStreet’s growth. Read more

Get Certified in MCA Basics
Make sure you know how MCAs really work before you sell them Read more

FinTech Veteran Ethan Schwarzbach Joins inFactor To Head inFactorIQ Platform
Mr. Schwarzbach joins inFactor from Orchard Platform where he most recently served as a Manager on the Business Development team. Read more

Broker Fair 2018 on Pace for Big Success
The coming May 14th conference in Brooklyn, NY has already sold out of funder/lender and general admission level tickets. Only ISOs, brokers and those employed by them can continue to register! Read more

New York Fed, a Wall Street watchdog, picks John Williams as new president
John Williams just became one of the most powerful people in the United States who is neither elected nor confirmed by Congress. Read more

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