Tagged: online lender

June 12, 2020 @ 6:25 pm By Omar Faridi  |  

David Chan, CEO at Monedo (previously Kreditech), a point of sale (PoS) lender that claims to have more than one million customers who have reportedly received over 2 million loans (as of March 2020), says that the online lender has a global addressable market of… Read More

May 26, 2020 @ 10:57 am By Samantha Hurst  |  

Canadian marketplace lending platform LendingArch announced on Tuesday it is accelerating its plans to expand into the U.S. in response to the increased demand for loans and debt relief during the COVID-19 pandemic. Founded in 2015, LendingArch describes itself as a modern finance company reinventing… Read More

May 21, 2020 @ 1:16 am By Omar Faridi  |  

India-based online lender Lendingkart Technologies has secured Rs 319 crore (appr. $42.16 million) in funding through a Series D investment round, which was led by existing investors Bertelsmann India Investments, Fullerton Financial Holdings, IndiaQuotient, and Sistema Asia Fund. LendingKart’s management said that the capital raised… Read More

May 20, 2020 @ 10:00 am By Samantha Hurst  |  

LendInvest, a UK-based marketplace for property financing, announced on Wednesday it has made some updates to its Buy to Let (BTL) products as valuations are permitted to go ahead. As previously reported, the BTL Plus product is designed for landlords who are currently on a… Read More

May 18, 2020 @ 9:54 am By Samantha Hurst  |  

Global financial service platform Kabbage announced on Monday that more than 110,000 U.S. small businesses have been approved to receive over $3.5 billion in Paycheck Protection Program (PPP) funding through its online lending platform.  As previously reported, the Paycheck Protection Program is part of the… Read More

May 4, 2020 @ 9:51 am By Samantha Hurst  |  

UK-based peer-to-peer lender RateSetter announced on Monday it is making changes to its provision fund as well as reducing interest rates. This course of action was caused by the COVID-19 pandemic. According to RateSetter, investors will receive only 50% of their interest with the other… Read More

April 8, 2020 @ 2:00 pm By Samantha Hurst  |  

UK-based peer-to-peer lender RateSetter announced on Tuesday it completed two sales of non-performing loans, with the combined proceeds of £4.65m added into the Provision Fund. According to RateSetter, the debt sale process started in December 2019 and the lender was not needing to reduce its… Read More

April 7, 2020 @ 11:31 am By Samantha Hurst  |  

Biz2Credit announced on Tuesday the release of its latest Business Lending Index revealed that small business approval rate plummeted in March 2020. According to the Index, The approval percentage for small business loan applications at big banks ($10 billion+ in assets) plummeted to just 15.4%… Read More

April 6, 2020 @ 9:25 am By Samantha Hurst  |  

Online lending platform Lendio recently announced it has launched an application for small businesses to access the $349 billion in government funds set aside for the Paycheck Protection Program (PPP). Lendio reported that the Paycheck Protection Program is part of the $2 trillion CARES Act… Read More

April 1, 2020 @ 2:40 pm By Samantha Hurst  |  

Online lending platform Lendio announced on Tuesday it is planning to hire up to 200 full-time small business loan agents to help meet the demand for emergency capital during the COVID-19. Lendio reported that with the recent passing of the CARES Act and the inclusions… Read More

March 24, 2020 @ 3:50 pm By Samantha Hurst  |  

UK-based online lending platform LendInvest announced its latest update regarding the deferments of BTL payments during the COVID-19 outbreak. According to the online lender, landlords with a LendInvest mortgage who believe they will have genuine difficulties making their payments as a result of the COVID-19… Read More

March 20, 2020 @ 10:37 pm By Samantha Hurst  |  

Marketplace lending company Funding Circle (LSE: FCH) announced on Thursday that despite the outbreak of COVID-19, it is reassuring investors that it is taking appropriate measures to respond to the situation and give them details on the various issues that are currently going on through… Read More

March 20, 2020 @ 9:50 pm By Samantha Hurst  |  

UK-based online lending platform LendInvest released more information about its operations during the COVID-19 outbreak. The online lender reported it has been monitoring the ongoing pandemic and so far it has not affected the its lending services. “All of our London-based staff are working remotely…. Read More

March 19, 2020 @ 2:06 pm By Samantha Hurst  |  

Following the recent outbreak of COVID-19 in the UK, online lending platform LendInvest announced that its platform is still functioning and that it is still “Open for Business.” LendInvest reported that on Monday it instructed all London-based staff to work remotely, which followed the government’s… Read More

March 10, 2020 @ 12:56 pm By Samantha Hurst  |  

Celsius Network, a cryptocurrency lending, and borrowing platform, announced on Monday it has formed a new partnership with Prime Trust, a custody and escrow platform providing services to both traditional and digital assets, to offer its retail and institutional clients custodial services from several global… Read More

March 5, 2020 @ 9:25 am By Samantha Hurst  |  

LendInvest, a UK-based online marketplace for mortgages, announced on Thursday Legal & General Mortgage Club’s lender panel to extend distribution of its Buy-to-Let product to more brokers. According to LendInvest, The club’s member firms are now able to register with the online lender’s platform and… Read More

March 3, 2020 @ 1:30 pm By Samantha Hurst  |  

October, a leading European online lender, announced on Tuesday it has reached new milestone. The lending platform revealed €400 million has been borrowed by SMEs on the platform to finance more than 800 projects. Ein weiterer Meilenstein in der Geschichte von October: mit dem heutigen… Read More

March 1, 2020 @ 10:30 pm By Samantha Hurst  |  

U.S.-based online lending platform Lendio recently announced it secured $55 million through its Series E funding round, which reportedly included $31 million in equity led by Mercato Partners’ Traverse Fund and a $24 million debt facility from Signature Bank. The equity round was oversubscribed by existing… Read More

February 21, 2020 @ 2:36 pm By Samantha Hurst  |  

LenderClose, a U.S.-based proprietary, technology-focused lending platform, announced on Thursday that Ascentra Credit Union has offered up an undisclosed investment through LenderClose’s latest funding round. Founded in 2015, LenderClose stated it was established with the key belief that innovative technology would empower community credit unions… Read More

February 14, 2020 @ 11:08 pm By Samantha Hurst  |  

Small business lending platform and fintech Numerated announced this week an expansion of its platform to support banks’ full suite of business banking products. The platform will now be offering pre-filled digital applications across business banking products, and a range of digital lending and account… Read More