dv01, a company which specializes in reporting and analytics in the marketplace lending industry, has announced an integration with Intex Solutions; Intex is a provider of structured fixed income cash flow models; Intex and dv01 clients will now be able to run cash flows by importing pools of loans from dv01 into Intex's application; according to dv01 CEO Perry Rahbar, "Intex is the leader for cashflows in the structured credit markets, and the completion of this integration brings immediate value to our clients by simplifying and expediting their workflows." Source
Global Debt Registry has written a white paper on emerging risks in the marketplace lending industry; focuses on risks and recent regulatory communications by regulators; also includes details on some of the recent court cases pertaining to the marketplace lending industry; summarizes risks by ecosystem categories; presents solutions available through Global Debt Registry. Source
Electronic document management is a key aspect of marketplace lending and eOriginal is one of the ecosystem's document management providers; Lend Academy interviews Steve Bisbee of eOriginal in their podcast; eOriginal has been in business since 1996, first focusing on original electronic documents for mortgages, then working with auto financing and expanding into many other areas of lending; in 2012 the company began exploring marketplace lending involvement after the suggestion from an investment bank; eOriginal's first marketplace lending customer was SoFi in 2013 and they have added many more since then; as a well established business, eOriginal also has a good perspective on the regulatory requirements involving data integrity which is also helping industry progression. Source
Millenium Trust Company has hired Tom Daley to lead the Alternative Solutions Group; Millenium Trust is a leading provider of custody solutions in the marketplace lending industry; Mr. Daley will be focused on adviser and registered investment adviser business development, seeking to expand the firm's alternative assets under custody from fund managers and financial advisers. Source
P2Binvestor has raised $7.7 million in a Series A1 funding led by Rockies Venture Club, an angel investor network in Colorado, and Future Venture Capital Co., a Japanese venture capital firm; according to CEO and Co-Founder Krista Morgan, funds will be used to grow operations, sales and marketing departments; improvements to the platform will also be made; Morgan stated, "We're seeing more interest in our model as venture funding hits a two-year low and more entrepreneurs are looking for ways to grow their business while preserving their equity using good-quality, flexible debt." Source
LendIt's Jason Jones writes about the marketplace lending opportunity for bank partnerships in a Lend Academy article; in 2016, many marketplace lenders reported partnerships with banks, exemplifying this new opportunity; three main types of partnerships have been prevalent including bank-fintech-bank (BFB), fintech-fintech-bank (FFB) and bank-fintech-fintech (BFF); co-branding or white labeling has also been a factor in the partnerships; some traditional banks have chosen to take the full cost of developing their own online lending platform including, Goldman Sachs and PingAn, however many banks are finding partnerships more cost efficient; LendIt's bank partnerships webinar on Wednesday will highlight this trend. Source
The Ranger Direct Lending closed-end fund is seeking to raise £40 million through the sale of new shares; fund is currently at £236 million; company will offer new C shares in December; the fund's last two share offerings have been for Z shares with trading symbol ZDP; the Ranger Direct Lending Fund has been steadily leading returns for UK marketplace lending funds in 2016. Source
Prospect Marketplace Lending Corp. has filed papers with the Securities and Exchange Commission for a fund investing in marketplace loans; the firm has filed an N-8A and an N-2 indicating its investment company status and plans for managing a closed-end fund; the closed-end fund will invest 80% of its assets in marketplace lending investments. Source
According to a report by Bloomberg, four bonds comprised of online consumer lending loans have reached or are approaching trigger levels; the four bonds include three securitizations by Avant and one by CircleBack Lending; according to one source, two of Avant's securities breached triggers this month for the first time; the four offerings total over $500 million in size. Source