The P2PFA provides quarterly data on its eight member firms; as of the third quarter it seems to have simplified its reporting to provide only industry and platform origination totals; Kadhim Shubber of FT Alphaville is curious as to why the P2PFA has chosen the new disclosure format which no longer appears to include granular details such as principal outstanding, capital repaid, number of lenders and number of borrowers; he has petitioned the P2PFA for more disclosure and greater transparency, questioning the lack of consistency and transparency in its quarterly data reporting. Source
P2PGI aims to raise £209 million through the deal and is working with Deutsche Bank to facilitate the Zopa loan book securitization; the portfolio will contain 31,153 loans with an average weighted interest rate of 7.2%; according to AltFi, P2PGI will hold a material net economic interest for the duration of the transaction and will also purchase at least 5% of each class of notes. Source.
P2PGI entered into an agreement to sell over $1bn worth of US consumer loans; the sale will reduce the funds net asset value (NAV) by less than 1 percent and effect their leverage & hedging requirement; the move is part of a broader strategy the fund laid out in September. Source.
The fund expects to provide a dividend of 15p per quarter by the end of the second quarter of 2018; this would represent a yield of 7.8%; the fund shared that it had a pipeline of attractive yielding assets of £400m and will increase share buybacks. Source
UK-based Paddle, which provides payments infrastructure for software companies, has secured $200 million in a Series D round led by KKR.
Paddle today announces it has raised $200m in Series D equity and debt financing at a valuation of $1.4bn, making it the UK's latest unicorn.
Latino-focused neobank Pana has joined Visa’s FinTech Fast Track program as part of its integration with the card-issuing giant that will increase its reach.
Retail investor money in p2p lending has been slowly eroding for the last few years, but the UK’s p2p lenders...
One can easily connect the dots and see how this Papaya Global and Azimo deal can expand the reach of both organizations.
Throughout the most recent crypto bull run, plenty of new crypto users have interacted with the Ethereum network for the first time and have been surprised to find sluggish, expensive transactions.While the Ethereum blockchain has been very much central to the idea of a web3 crypto internet, the ...