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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.


To join our newsletter community please subscribe here.

FintechNews Roundup
·Nov. 29, 2016

Capgemini Releases Report on Fintech

Capgemini's "World Fintech Report" provides insight on fintech and its current collision with traditional financial service providers; report says that fintech is both overhyped and underestimated; Capgemini points out the success of fintech while noting the industry's small percentage of business versus traditional firms; provides details on how fintech firms are partnering with traditional firms and how fintech is evolving to become a more significant part of traditional firms; highlights the growth potential ahead for the fintech industry; notes how traditional firms are approaching fintech partnerships and investment; says 59.2% of traditional finance firms are developing their own in-house capabilities and 60% are establishing partnerships with innovative fintech firms.  Source

 

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News RoundupNorth AmericaOnline LendingUSA
·Nov. 29, 2016

Prosper’s Ron Suber Joins eOriginal Advisory Board

eOriginal has added Ron Suber, Prosper Marketplace president, to its advisory board; the digital transaction document management company has been steadily expanding its business in the marketplace lending market; Ron Suber will help support the company's growth as an advocate for its unique digital documentation products also advising the company on the marketplace lending market overall; eOriginal is currently growing and expanding, also adding Jon Barlow, founder and former CEO of Eaglewood Capital Management, to its advisory board and raising $26.5 million in a recent funding round.  Source

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Asia/PacNews RoundupOnline LendingRegulation
·Nov. 28, 2016

Regulators Recover $1.5bn in Assets from Ezubao Investigation

An investigation regarding fraudulent fundraising from Chinese peer-to-peer lender, Ezubao, has been underway since February 2016; regulators have reported all of the fundraising projects on the site were fraudulent and that the firm collected $7.6 billion from approximately 900,000 investors; Chinese regulators have recovered $1.5 billion in assets which include real estate, jewelry, stocks, cars and helicopters bought for company executives of the parent company Yucheng Group.  Source

 

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News RoundupOnline Lending
·Nov. 28, 2016

Orchard’s Weekly Online Lending Snapshot

Orchard published its Weekly Online Lending Snapshot with data through Tuesday of the Thanksgiving holiday week; commentary focuses on increased lending to small businesses and highlights Small Business Saturday which occurred on November 26; the Weekly Snapshot shows publicly traded marketplace lending company returns led by LendingClub with a monthly gain of 22.38% and LendingTree with a monthly gain of 16.09%; UK listed funds all reported losses on a monthly return basis with the VPC Specialty Lending Fund leading losses at -10.38% followed by the P2P Global Investments Fund reporting a monthly loss of -7.12%; the US listed, River North Marketplace Lending Fund has reported a positive monthly gain of 0.83%; in securitizations, SoFi is the latest issuer with the SoFi Professional Loan Program LLC (SOFI-2016-E) priced on November 17.  Source

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News RoundupOnline LendingUSA
·Nov. 28, 2016

LendingRobot Planning for a Pooled Investment Fund

LendingRobot has filed a Form D with the Securities and Exchange Commission indicating its plans for a pooled investment fund; the investing platform currently provides investment accounts that allow customers to invest in marketplace loans from direct lenders through the platform; the new fund provides a pooled fund investment option for investors; the minimum investment is $100,000.  Source

 

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News RoundupOnline LendingUSA
·Nov. 28, 2016

First Trust Files SEC Form D for Pooled Marketplace Lending Fund

First Trust has filed a Form D with the Securities and Exchange Commission for a pooled fund that will include marketplace lending securities under the name First Trust Marketplace Lending Partners, L.P.; minimum investment in the fund is $50,000; firm offers a range of investment funds including many funds with an income focused investment strategy.  Source

 

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EuropeNews RoundupOnline Lending
·Nov. 28, 2016

Ranger Direct Lending Fund Plans for More Share Issuances

The Ranger Direct Lending Fund has reported plans for share issuance totaling 200 million British pounds through 2017; the Fund currently has a 40 million British pound issuance planned for December; it also raised 30 million British pounds in July and 23.2 million British pounds in November of 2016; according to a statement from Ranger Direct Lending, "The company believes that debt instruments originated or issued by direct lending platforms are an attractive and growing asset class that have the potential to provide higher returns for investors than other, more widely available, fixed income products."; growth from the asset class and potential returns are factors driving the new issuances.  Source

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FintechNews RoundupNorth AmericaUSA
·Nov. 28, 2016

Stripe Raises $150mn, Valuation Doubles to $9.2bn

Stripe, the most valuable fintech startup, has raised another $150 million and is now valued at $9.2 billion; the new round is being co-led by CapitalG, an investing arm of Alphabet Inc., and General Catalyst Partners; Sequoia Capital is also reported to be participating; Stripe is used by businesses to accept and track digital payments.  Source

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Asia/PacFinanceNews Roundup
·Nov. 28, 2016

Ant Financial Securitized Loans from Alibaba’s Singles Day

Alibaba-backed Ant Financial sold $578 million worth of securities backed against small loans granted to consumers on "Double 11" day, the festival to celebrate singlehood and the world's largest online shopping day; Chongqing Alibaba Small Loan provided the underlying loans for the asset-backed security through an online consumer credit portal, Ant Check Later ("Huabei" in Chinese); the Shanghai Stock Exchange approved the offering and allowed it to be privately placed last Monday to qualified institutional investors.  Source

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Asia/PacNews Roundup
·Nov. 28, 2016

Chinese Household Debt at Alarming Levels

Loose credit and consumers who are no longer averse to loans have contributed to the rise in household debt as a share of GDP; numbers have risen from 28% to 40% in the last five years; the share of household loans to overall lending hit 67.5% in the third quarter of 2016, more than twice the share of the year before; China's household debt as a share of GDP is half of what it is in the US, though if the current pace continues it will come close to equaling the US percentage in a few short years.  Source

 

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