The bonds have a minimum investment of £2,000 and offer investors a 5.37% return per year until 2023; the offer will close at or before 12 pm on March 29th; Christian Faes, co-founder of LendInvest stated, “We are delighted to be coming back to the market so soon after the successful issue of our first oversubscribed bond in August 2017.” Source
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The patent shares how a platform could be built on the blockchain which could generate credit ratings based on a borrower’s behavior; the system would also leverage more data sources than current credit rating systems and provide more transparency to borrowers on how scores are calculated. Source
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Lightning Labs announced it had raised $2.5 million and at the same time released a beta version of their technology; one of the criticisms of bitcoin is that it can handle a limited number of transactions per second; some believe that bitcoin should increase its block size to process more transactions; Lightning Labs is working on the Lightning Network to add another layer of transactions to sit on top of the blockchain network which would allow for more transactions to take place. Source
The Chinese online lender issued over $2 billion loans in the quarter to over 200,000 borrowers; this represented year over year growth of 95%; 2017 total originations were $6.3 billion across nearly 650,000 borrowers; Revenue in the fourth quarter was $280.5 million and net income was $69 million. Source
Revolut continues to add functionality to their accounts as they apply for their banking license; while Revolut customers have access to card payments, in Europe many utilities require that you pay phone and electricity bills with direct debits. Source
The finalists for LendIt Fintech’s 2018 startup competition have been released; BitButter, BlockFi, CreditStacks, Flowcast, Genivity, Narmi, Spacequant and Trusted Key will pitch in front of judges at LendIt Fintech 2018 on April 10 in San Francisco. Source
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The UK Financial Conduct Authority has granted Coinbase an E-Money License; Barclays is also allowing Coinbase to access the UK’s Faster Payments Scheme which is the core payment infrastructure in the UK; Coinbase’s Zeeshan Feroz stated, “There is no other exchange today that has access to domestic banking. UK consumers today have to jump through all sorts of hoops around sending money to European accounts using euros in order to get money in and out." Source
deBanked has collected originations figures from many of the top small business financing companies; according to data available, OnDeck led 2017 originations with over $2.1 billion; PayPal Working Capital and Amazon Lending are not included in the list. Source