MoneyLion’s recent acquisition of Even Financial (now Engine by MoneyLion) will drive growth for both companies, Engine’s founder said.
Phill Rosen spoke with Crowdfund Insider following the news last week of the company surpassing $1.5 billion in loan requests; according to Rosen, besides debt consolidation, weddings, auto and home improvement are the most popular categories for loans; average loan size is $10,551; Avant is the most popular platform by take rate followed by both Lending Club and Ascend who have high take rates according to Rosen; EVEN has seen a significant increase in demand since September which may be regular seasonal demand; for 2017, Rosen sees more consolidation for the space, followed by more growth. Source