LQD Business Finance is an alternative lender in small business lending; 2016 was the company's first year in business; it reported closed loans of $33 million and also closed its Series A round; CEO George Souri expects growing its origination run rate to $80 million by the end of 2017 and to $200 million over the next 24 months. Source
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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According to a recent Smart Money People survey, smartphone apps have surpassed...
- House Financial Services Committee Approves Legislation to Help Keep Lending Partnerships Between Banks and Online Lenders
- Cinda International Leads Massive Round In Chinese Fintech Company 9f Group
- YieldStreet Surpasses $200M in Originations, Bolsters Leadership Team and Launches New Website amid Period of High Growth
- $15 Million Investment Round Fuels Accelerated Growth at Goji, the Online Home and Auto Insurance Distribution Platform
- Hornets, LendingTree Announce New Multi-Year Founding Level Partnership Highlighted By Jersey Patch
- Active.Ai raises over $8 million in Series-A round
- TransUnion Expands Credit Access to More Americans with Acquisition of FactorTrust
- LendInvest launches into buy-to-let market
2019 was a hard year for the small business lender; Funding Circle...
According to a new survey by Greenwich Associates 43 percent of financial...
- ProBank Austin to Introduce New ‘bankED’ Compliance Training Program at LendIt Fintech 2018 USA
- Cloud Lending Solutions Recognized as Top 10 Best Performing Salesforce Solution Provider
- BBVA Compass Express Personal Loan goes digital, opens to consumers in multiple states
- TD Auto Finance Partners with AutoGravity to Provide Enhanced Digital Car Buying and Financing Option
- Santander Consumer USA And AutoGravity Work To Transform The Car-Buying And Financing Journey
- Funding Circle co-founder joins crypto-lending platform as advisor
- Purpose Financial to Acquire Thinking Capital
- BNP Paribas Fortis partners with Swedish fintech Tink for digital banking
- Direct lending fund beats dividend target, launches new fundraise
- InCompliance Update White Paper 2018
LendIt provides details on LendIt USA 2017 training sessions in their blog post; the training sessions will be focused on sales and marketing, and technology and operations; the two sessions will be held on March 6 and will include interactive discussion; the sales and marketing training session will be in the morning and will include discussion on digital marketing channels, and lead generation, retention and engagement; the technology and operations session will be in the afternoon and will include discussion on artificial intelligence and the importance of mobile. Source
Ant Financial’s Yu’e Bao previously had the title for the largest money...
One of China’s largest online lenders has shelved their IPO because of the regulatory crackdown on online lending; the FT reports that Lufax is waiting until the China Banking Regulatory Commission (CBRC) required online lenders to apply for a license; the current thinking is the government will approve licenses in April, though the time frame could be a bit longer; Lufax wants to ensure they get it right instead of rushing to be first. Source.
Korea's Financial Services Commission just issued a guideline that limits most individual investors from committing more than 10 million won ($8,750) to P2P investments in a year; those individuals who have earnings over 100 million won ($87,500) can still commit up to 40 million won to P2P; Korean P2P platforms are complaining that investments in any equity project or loan portfolio tend to be skewed to a few individuals who invest more than 10 million won (60% of investors fall into this category on average across platforms there), therefore the new regulation will drive up funding costs; regulators say this over-concentration of funds from few investors is precisely the trend they hope to curtail. Source