Invoice finance platform BlueVine secured $130mn in debt financing; the financing comes from Silicon Valley Bank, SunTrust Bank, Bank Leumi and TriplePoint Venture Growth BDC Corp.; BlueVine founder and CEO Eyal Lifshitz tells Bankless Times, “Business owners have diverse needs, and by augmenting our product offering, we are able to offer the solution that fits best.” Source.
While speaking on Business Insider’s podcast “Success! How I Did It” Affirm CEO Max Levchin shared the story about how he started PayPal; Levchin moved out to Silicon Valley after starting a business that didn’t succeed and was sleeping on his friend’s floor; he saw Peter Thiel deliver a lecture and stayed after to chat with the then hedge fund manager; they met the next morning for breakfast and Thiel liked one of his two ideas, he decided to invest and that was the company that became PayPal. Source.
Stripe, the payments platform has raised $600 million which is an extension of their Series G round that closed last...
The CFPB asked for more details on which companies consumers use to obtain a free credit score; the agency is looking to help consumers better understand their credit scores and how to potentially improve them; they also want to understand how behavior changes after seeing a free credit score; comments are due by February 12, 2018. Source.
Online real estate investing marketplace RealtyMogul has announced it will now allow self-directed IRA investment through its MogulREIT I; provides the benefit of passive investment income through a retirement account; MogulREIT I will also now allow for automated dividend reinvestment which can help add to compounding returns for IRA accounts; the product has also announced the inclusion of two new property investments located in San Antonio, Texas and West Chester, Pennsylvania. Source
Finastra, R3 and seven global banks are teaming up to build a blockchain based marketplace for syndicated loans; banks include BNP Paribas, BNY Mellon, HSBC, ING and State Street; Fusion LenderComm, which uses R3's Corda platform, will be able to handle real-time credit agreements, accrual balances, position information and transaction data. Source.
While there have been many false starts, the market for P2P payments is finally taking off in this country; two-thirds of...
Getting the Paycheck Protection Program up and running was an event unto itself, getting forgiveness right will be an even...
SoFi completed a $727mn issuance, entitled SCLP 2017-6, which makes it the largest consumer ABS deal; this is SoFi’s 11th ABD deal in 2017 worth over $6bn; SoFi said the joint lead managers on SCLP 2017-6 were J.P. Morgan, Deutsche Bank, Goldman Sachs, and Mizuho Securities. Source.
Uber is working towards offering more financial products hiring dozens of employees in New York; sources say that the team...