Money360 is a marketplace lender for commercial real estate; in Q2 the company closed $143 million in loans making Q2 the company's largest quarter; to date the company has closed $350 million in loans and expects to surpass the $500 million mark by the end of the year; the press release provides further information about the deals closed. Source
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
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Ablrate was recently authorized by the FCA and is now launching their custom Innovative Finance ISA; Ablrate offers a self-select marketplace where investors hand pick the loans they look to invest in; this is one of many products the company will launch in this arena; Ablrate facilitates asset-backed loans with specialization in aircraft and capital equipment; they currently will take cash deposits for their IFISA but no transfers as David Bradley-Ward, CEO of Ablrate, tells AltFi, "We want to be able to get everyone going with their IFISA first and then allow transfers in from other providers after the first week of our launch." Source
During the week I share the latest marketplace lending news on Twitter as it...
P2P-Banking.com has released international lending volumes for July; Zopa topped the list with originations of EUR119.6 million ($USD141.9 million) for the month; report includes a number of milestones including cumulative lending of GBP2.5 billion ($3.28 billion) for Zopa and GBP2 billion ($2.63 billion) for RateSetter; the report does not include data from US P2P lending platforms. Source
The case put forward by the Conference of State Bank Supervisors which...
I managed to invest in this listing on Prosper last week. It was open...
Former Goldman Sachs banker Mona El Isa has founded an asset management services company that will provide blockchain solutions for hedge funds; El Isa launched Melonport in February 2016 with co-founder Reto Trinkler and has now hired George Hallam, former head of external communications at the Ethereum Foundation; El Isa's hedge fund services will use smart contracts to automate various aspects of portfolio management for hedge fund managers which will lower the costs of building a hedge fund. Source
Leading the news this week is Sam Bankman-Fried giving a public appearance, Larry Fink like tokenization, BlockFi filed for bankruptcy and more
A new association has been formed in the marketplace lending industry with a focus on fraud prevention; the Online Lending Network was launched this week at Money 20/20 and will work with ID Analytics on loan tracking and fraud risk solutions; Lend Academy provides more details in their article; focus is on technology from ID Analytics that helps to prevent loan stacking and predict a borrower's intentions. Source