- Finn.ai Raises $3 Million in Institutional Financing Round
- Digital bank for teenagers raises $5m in Series A investment round
- Italian peer-to-peer lender launches its own fund, targets €100m raise
- Templum Raises $2.7M in Seed Funding
- Canadian Lenders Association & Innovative Lending Platform Association Launch Smart Box in Canada
- Starqrmarq wins peer to peer lending brief
- State of Small Business Lending: 2017 Spotlight on Women Entrepreneurs
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Lending Club has closed five of its investment funds under LC Advisors; the loans have been sold off to various buyers and the company has rebranded its investment management business to LendingClub Asset Management. Source
The latest securitization of Zopa loans priced tighter than last year’s; it was led by P2PGI and arranged by Deutsche Bank; the senior tranche was rated AA by Moody’s; Jaidev Janardana, Zopa’s CEO stated, “This is a further demonstration of investor and market confidence in our origination and underwriting capabilities. Our ability to originate high quality loans continues to make the Zopa investment asset a distinctive and attractive one to retail and institutional investors alike.” Source
The platform aims to provide a better process for both lenders and consumers; Fannie Mae is partnering with various fintechs including Yodlee, FormFree, and Plaid to help build out the platform’s features. Source
Mambu provides a cloud based service for traditional finance and fintech firms; they operate in 45 countries and launched in 2009; Crowdfund Insider interviews Co-Founder and CEO Eugene Danilkis to talk about the platform's progress. Source
- Samsung And Ant Financial Eye AI With $40M Investment
- Jiko Raises $7.7m in Series A Funding
- Hong Kong, Singapore to Collaborate on DLT Trade Finance Platform
- Canadian Small Business Lender Lendified Secures $60 Million Credit Facility From ClearFlow
- Current Secures $5M in Series A Funding
- Homelyfe Raises £2.4M in Seed Funding
- M?kuSafe Raises $1.25m Convertible Funding Round
- SelfScore rebrands as Deserve, raises $12m funding
- Newable Business Finance partners with Open Risk Exchange
Yesterday, Lending Club announced the closure of several funds. The funds were part of what was previously known as LC...
Many of the major US banks are now adopting digital strategies into their business; Lend Academy shares progress from JPMorgan, Bank of America, Wells Fargo, Citi and Goldman Sachs. Source
Customers are becoming more demanding as interest rates climb; the average interest rate paid by the biggest US Banks jumped to 0.40% in the third quarter; sophisticated customers are now reconsidering where they hold their cash accounts; Fifth Third is one bank that is raising rates for these types of customers; wealth management deposits have decreased at Bank of America, JP Morgan and Wells Fargo in the third quarter according to Autonomous Research. Source
One former trader discusses his foray into bitcoin; in a Forbes article he shares how he was wrong to dismiss bitcoin initially and why bitcoin matters more than the blockchain. Source