In their weekly update PeerIQ covers the Trump tax plan, the recent Transunion consumer lending report and marketplace lending securitization news; the Transunion report shows that fintech companies have originated 30 percent of unsecured consumer loans in 2016; Darien Rowayton Bank and SoFi filed securitization deals; PeerIQ also took a closer look at SoFi’s SCLP 2017-6 deal which was the largest on SoFi’s shelf so far. Source.
ID Analytics introduced the Online Lending Network in October 2016 with the goal of providing greater resources to lenders for mitigating fraud; Online Lending Network members access internetwork supplied data and information from ID Analytics for greater detection of fraudulent loan applications and loan stacking; ID Analytics reports that the network has achieved visibility into 75% of US domestic marketplace lending activity since inception with membership increasing by 50% since its launch. Source
The cryptocurrency space is a space we believe in,” CBOE’s chief operating officer told analysts in a call on Tuesday according to the FT; they also noted that the CBOE is in talks with the CFTC to offer futures on bitcoin; this move follows what the CME said last week that it planned to add bitcoin as well. Source.
The Series A fundraising included both debt and equity capital; investment was led by K2 Venture Capital with participation from STI Financial Group and Silicon Valley venture capitalist Tim Draper who made his first investment in an Indonesian startup; firm will use the funds to expand its lending and build its technology with plans for adding new research and development centers for machine learning and algorithm design; platform provides short term micro-loans of between US$75 and US$350 for a maximum of 30 days. Source
Raisin allows customers to compare accounts at banks across Europe; Thrive Capital led the latest round with participation from previous investors Ribbit Capital and Index Ventures; funding now totals $64 million; the company has tripled the amount of funds transacted on the platform last year; it now has 27 bank partners and expanded from Germany and Austria to a total of 31 countries. Source
Legion Capital, a venture capital and advisory firm, has launched a subsidiary called Stage 1 Funding, LLC; the new firm will look to address the demand for small business finance; Joseph B. Hilton of the Hilton Hotel Family will serve as President and they will focus on accounts receivable finance, equipment finance and venture debt or equity. Source
CB insights has compiled a list of the top European venture capitalists by country based on the number of portfolio companies they have backed; the list focused on the most active investors of the last five years and included VCs, corporate VCs, growth equity firms and super angels. Source.
India's CoinTribe has partnered with SMERA Ratings to incorporate a new rating system for its online business lending services; through the partnership CoinTribe will gain access to SMERA's ratings database for micro, small and medium size businesses; CoinTribe plans to integrate the ratings information with its current credit underwriting system for enhanced analytics on business credit loans. Source
The Futures Industry Association, the main futures industry group, is sending a letter to the CFTC expressing concerns over bitcoin futures; the FT saw a draft of the letter and it states that they did not allow for proper public transparency and input; futures brokers are concerned over holding more risk and have expressed concerns to the FT that they will not immediately clear the products. Source.
Aegon has announced it will allocate 1.5 billion euros ($1.6 billion) of its investment portfolio to Auxmoney P2P loans; the platform offers average returns of 5.5%; the investment represents one of the market's largest institutional endorsements in P2P loans; Aegon is also involved in a 15 million euro ($16.03 million) Series E funding round for Auxmoney. Source