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·Apr. 6, 2017

Renaud Laplanche Launches Upgrade

Renaud Laplanche has announced the launch of a new online consumer lending platform called Upgrade; the firm's investors include Apoletto, CreditEase, FirstMark Capital, Noah Holdings, Ribbit Capital, Sands Capital Ventures, Silicon Valley Bank, Union Square Ventures, Uprising and Vy Capital; the firm will partner with WebBank for loan originations and plans to sell its loans to institutional investors; it is working with Jefferies on its capital markets strategy and a loan securitization program; the firm also has plans to use blockchain for data management and transactions. Source

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News Roundup Online Lending

·Apr. 6, 2017

Lend Academy Article: PeerIQ Releases Marketplace Lending Securitization Tracker Q1 2017

Lend Academy provides highlights from PeerIQ's Q1 2017 securitization market report in their article; total marketplace lending securitization issuance for the first quarter was $2.9 billion and all of the quarter's securitization deals were rated by a rating agency; SoFi leads the market in securitizations with nearly $9 billion representing 51% of the market's deal value. Source

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Fintech News Roundup

·Apr. 6, 2017

PwC Releases Report on Fintech

PwC has released a global report on fintech; says financial institutions across the world could lose 24% of their revenues to financial technology companies over the next three to five years; among other statistics, the report also finds that 82% of respondents plan to increase partnerships with fintech firms over the next three to five years to manage new innovation and market competition. Source

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News Roundup Online Lending USA

·Apr. 6, 2017

LendingRobot Launches New Product for Institutional Investors

Building on the success of the LendingRobot Series Fund announced in January 2017, LendingRobot has launched LendingRobot Professional; the product has new advisor-focused features and functionality and can be optimized by advisors for multiple clients; it has an advisor minimum of $250,000. Source

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Asia/Pac News Roundup Online Lending

·Apr. 6, 2017

Tradeshift Announces Partnership with CreditEase for Financing App

Tradeshift operates a marketplace for businesses, allowing them to manage supply chain buying and selling; through the partnership with CreditEase, the two firms will develop a financing app that will facilitate lending to Chinese businesses on the Tradeshift platform; according to Tradeshift, the new app will provide a peer-to-peer financing option for hundreds of thousands of China-based exporters. Source

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News Roundup Online Lending USA

·Apr. 6, 2017

MLA Director on the Benefits of an OCC Fintech Charter

Fintech is improving the financial services industry and providing new borrowing opportunities across the country; the current framework makes innovation challenging with differing requirements for online lenders in each of the 50 states; Nat Hoopes, the Marketplace Lending Association's director, writes in favor of the OCC fintech charter and the benefits it would provide for online lending, fintech and the industry overall. Source

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Europe News Roundup Online Lending

·Apr. 6, 2017

MarketInvoice Reporting Ambitious Plans for Business Growth

The UK's MarketInvoice, a working capital lender for businesses, has been gaining significant market traction and is reporting ambitious plans for future business growth; it is estimating total lending of 2 billion British pounds ($2.5 billion) by the end of the year and is planning to offer its service to incumbent banks; the firm has also appointed Zopa's Giles Andrews as its chairman and hired Shaun Alexander as head of risk to improve its risk reporting, integrate more artificial intelligence programming and facilitate greater deal communication with large traditional banks. Source

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Fintech News Roundup Online Lending Real Estate USA

·Apr. 6, 2017

Fundrise Files for a For-Sale Housing eFund

Fundrise plans to offer a new fund that invests in the development of homes for sale in Los Angeles, California; investors in the fund will be investing in a diversified portfolio of real estate properties in development and for sale with the option to buy homes in the portfolio; investors will receive distributions from the fund's operating cash flow which will primarily be generated from the sale of homes in the fund; distributions may also be made from other sources of cash flow including structured equity or debt. Source

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Fintech News Roundup

·Apr. 6, 2017

CB Insights on Wealthtech Exits

CB Insights details wealthtech exits from 2012 reporting a total of 29 exits with 28 mergers or acquisitions and one IPO from Yodlee; during the sample timeframe, TradeKing was active in the wealthtech market acquiring Zecco, GAIN Capital Securities, TraderOS and MB Trading before being acquired by Ally Financial; also active in wealthtech deals has been Envestnet who has acquired Yodlee, Wheelhouse Analytics, Finance Logix and Upside. Source

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News Roundup Online Lending USA

·Apr. 6, 2017

LendingHome Announces Individual Investors Milestone

Individual investors have now invested $100 million of the company's $1 billion funded; the investments have been growing at a fast pace with the platform launching in January 2016 and doubling its $50 million investment level from mid-October of 2016; LendingHome markets returns of 8.75% and requires a $50,000 opening balance with a minimum investment of $5,000; at the LendIt USA 2017 event the firm received the 2017 Top Real Estate Platform award. Source

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