Small business loan facilitator, Lendio, has secured $20 million in a financing round led by investment from Comcast Ventures and Stereo Capital; Dave Zilberman of Comcast Ventures will be joining the firm's board of directors following the financing round; the firm seeks to partner with small business lenders in order to help them find the best loan provider for their needs; they currently partner with approximately 75 loan providers; in the third quarter they helped facilitate $63 million in loans for small businesses, an increase of 93% from the third quarter of 2015. Source
A to Z
Online Lending
Scott first looks back at 2016, how Lending Club was able to overcome adversity and highlights some of the leading lenders in the space like SoFi and OnDeck; he makes the comparison that online lending is a lot like online retail and there are many lessons to be learned; just like customers in retail the customers in banking do not want to go to the local branch to get a loan, they want to have a seamless digital experience like they already have with the likes of Amazon; Scott offers three ideas to define the next decade for a stronger industry, evolve the customer experience, unleash the platform's potential and amplify the core innovations that serve customers; he finishes up with a few questions from audience members. Source