This afternoon LendingClub released their earnings for Q3 2020. They have bounced back from the lows of Q2 showing a...
With regulatory changes in China the online lender LexinFintech scaled back their IPO target from $500mn to $120mn; the company is looking to IPO next week and is offering 12 million shares at a price range of $9 to $11; recent IPOs by Chinese fintechs like Qudian have seen a significant drop in value after the regulatory push in China. Source.
One of China’s largest online lenders has shelved their IPO because of the regulatory crackdown on online lending; the FT reports that Lufax is waiting until the China Banking Regulatory Commission (CBRC) required online lenders to apply for a license; the current thinking is the government will approve licenses in April, though the time frame could be a bit longer; Lufax wants to ensure they get it right instead of rushing to be first. Source.
[Editor’s note: This is a guest post from Tim Dubes, Vice President of Marketing with Ocrolus, a cloud platform for...
Afterpay comes to physical stores in the US How Retailers Are Cashing In On A US Coin Shortage Google to...
Due to the high demand in awards submissions we are extending the deadline to submit until Friday, February 15th; One...
China online consumer finance platform LexinFintech announced it will invest more than $150mn in partnerships over the next three years; the company’s CEO said the investment will focus on co-branded credit cards with financial institutions, expanding services to include more use cases and working on technology cooperation. Source.
Marcus has originated more than $3bn of loans since inception, recently it has become know that more than 10 percent of the loans were sub prime; they have said this is a natural evolution of the loan business and they are being very selective in approving of applications. Source.
[Editor’s note: This is a guest post from Matt Burton, CEO and Co-Founder of Orchard.] The past nine months have...
Millions of people have lost their jobs in the past two weeks which is having a tremendous impact on our...