Since launching in 2015, Sharestates, a real estate crowdfunding company, has crossed $275 million in originations across 323 loans; in December 2016 the company originated $42 million, nearly doubling total loan volume in just over three months; average net yield to investors has been 11%; Sharestates recently announced they were raising their Series A through SeedInvest; the company is currently profitable and was previously a finalist for PitchIt@LendIt. 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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The SEC's Office of Investor Education and Advocacy has issued an alert to investors, warning them about potential scams with companies claiming to be involved with ICOs; according to the report, fraudsters may use new technology such as ICOs to defraud customers in various ways; discusses recent trading suspensions, pump-and-dump, market manipulations and tips for investors. Source
Orchard has announced a new data services partnership with investment bank, Sandler O'Neill; Sandler O'Neill provides investment banking advisory services for clients in the financial services industry; the partnership will provide access to Orchard's full suite of marketplace lending data analytics services for Sandler O'Neill and its clients making Sandler O'Neill a leading investment advisory service for financial institutions considering bank partnerships. Source
If you did not know about NFTs (non-fungible tokens) before this week...
Loan Forbearance Data; 1099 vs. W-2 Re-Think; Stripe/SoFi Deals OpenInvest Raises $10.5M...
Small business lender Fundbox believes their new credit and payment product will help to solve the cash flow issue at small businesses; “We want to do for [small-business] B-to-B commerce what the entire credit card infrastructure has done for B-to-C commerce,” said Prashant Fuloria, chief operating officer of Fundbox, to American Banker; one of the biggest reasons for some of these issues is there is no credit scoring equivalent for small businesses; Fundbox Pay allows businesses to get paid immediately and gives those invoiced 60 days to pay at no charge, allowing businesses to handle the seasonal cash flow issues without too much pain. Source.
Loyal3 recently announced the service would be shutting down effective May 22, 2017; the company provided commission free investments with a minimum investment of just $10; also offered investors a chance to access some IPOs; Loyal3 is offering several options to investors including moving securities to FolioFirst, transferring shares to another brokerage or selling shares; many people speculate that the shutdown will be a boon to Robinhood's business which offers similar services. Source
During the week I share the latest marketplace lending and fintech news...
Compares blockchain to a library cataloging system; explains public and private blockchain and the centralized way information is stored creating a distributed ledger; also reports on the blockchain solutions offered by Othera which include loan tokenization for secondary trading. Source
Lisa Jacobs, the head of Funding Circle’s UK business, sat down with...