Tagged: p2p

P2P Lender Folk2Folk Reorts £17+ Million Paid to Investors for Tax Year

Folk2Folk is reporting that investors earned £17.32 million in interest payments for the tax year of 2024/2025. The company states that it is the largest peer-to-peer lender in the UK, based on total lending. The interest generated in the past year is the most since… Read More

P2P: Folk2Folk Reports “Surge” in ISA Transfers

Folk2Folk, a peer-to-peer lender that claims title of being the largest in the UK, having facilitated over £764 million in loans since inception, says it is experiencing a “surge” in transfers to its Innovative Finance ISA (IFISA). Folk2Folk reports almost £77 million of investment into… Read More

Vietnam to Launch Fintech Sandbox for P2P Lending and Credit Scoring in July

Vietnam will begin a two-year regulatory sandbox for selected fintech services, including peer-to-peer (P2P) lending, credit scoring, and open banking data sharing, starting July 1, under a government decree issued earlier this week. Decree 94, released on April 29, establishes a controlled testing environment for… Read More

P2P Lender Folk2Folk Reports Record Revenue for 2024

Peer to Peer lender Folk2Folk has posted a preview of 2024 performance. According to the company, its platform generated record revenue for the full year of 2024, marking its sixth consecutive year of profitability. Folk2Folk said the top-line revenue was £6.6 million for the year,… Read More

UK P2P Lender Folk2Folk Tells Chancellor to Include IFISAs in ISA Discussions

Folk2Folk, a peer-to-peer lender serving smaller businesses, has written to the Chancellor of the Exchequer, Rachel Reeves, asking her to include IFISAs in the ISA discussion. IFISAs, or innovative finance individual savings accounts, aim to allow alternative investments in retirement accounts. An IFISA can also… Read More

LendingClub Founding CEO and Current Upgrade CEO Renaud Laplanche Comments on 10 Year Anniversary of Iconic Fintech IPO

LendingClub (NYSE:LC) became a public firm in an IPO held on December 11, 2014 – ten years ago today. At that time, the transition of the high-profile Fintech from a private firm to a publicly traded company was heralded as a coming-of-age moment for the… Read More

Mintos Expands Products, Touts Robust Financial Performance

Describing 2023 as a “transformative year for Mintos,” the online investment platform says it is expanding its products for its customers. According to a note from the firm, the multi-asset investment platform, is now offering fractional bonds and ETFs alongside its first business of enabling… Read More

India’s Central Bank Tightens Rules for P2P Lending Platforms

The Reserve Bank of India (RBI) has announced tightened regulations for peer-to-peer (P2P) non-bank lending platforms, effective immediately, in response to some entities’ violations of the 2017 guidelines. The move aims to enhance transparency and ensure stricter compliance with regulatory standards, addressing concerns that certain… Read More

P2P Lender Folk2Folk Tops £700 Million in Loans

Peer-to-peer lender FOLK2FOLK has topped £700 million in lending, according to a note from the firm. The company claims to be the largest P2P lender to small businesses in the UK. Launched in 2013, FOLK2FOLK is one of the few remaining P2P lenders. The unique model combines… Read More

P2P Lender SoLo Funds Settles with Pennsylvania Over Allegations of “Illegal Tip and Donation Scheme”

SoLo Funds, a peer to peer lender, has settled allegations brought by the Attorney General of Pennsylvania. In a public statement, the AG claimed that Solo Funds “deceptively led borrowers to belive they were receiving interest free loans.” Allegedly, the loans actually incorporated “outrageously inflated… Read More

Linked Finance Reports €300 Million in Online Lending to SMEs

Linked Finance, an online lender serving Irish SMEs, says it has topped €300 million in loans since its launch. The funding has supported over 4200 smaller firms. For 2024, Linked Finance predicts that it will lend, on average, €115,000 per borrower hitting over £80 million… Read More

UK: HNW Lending, a P2P Platform, Reports Topping £140 Million in Loans

HNW Lending says it has surpassed £140 million in online lending. As the name implies, HNW means high net worth individuals. Regulated by the UK Financial Conduct Authority, HNW Lending is a peer-to-peer lending platform that enables asset-backed loans for UK-based individuals and businesses, with… Read More

Consumer Financial Protection Bureau (CFPB) Sues Fintech SoLo Funds for “Deceiving” Borrowers

The Consumer Financial Protection Bureau (CFPB) has sued the online lending platform SoLo Funds for claims the Fintech deceived borrowers about the total cost of loans. The CFPB notes that SoLo markets itself “as a consumer-friendly alternative to high-cost, short-term loans.” Solo is a Fintech… Read More

Linked Finance Partners with Strategic Banking Corporation of Ireland to Lend to Irish SMEs

Linked Finance has partnered with the Strategic Banking Corporation of Ireland (SBCI) to lend up to €50 million to Irish SMEs. The loans are said to be issued at a discounted rate. Linked Finance is a peer-to-peer (P2P) lending platform serving smaller firms in Ireland…. Read More

Remember Lufax? It is now trading at an all time low of Around $2 a Share

Once one of the largest peer-to-peer lenders in the world, China’s Lufax (NYSE:LU) has hit an all-time low trading on the NYSE. The bid-ask of shares is around $2.17. A year ago, it was trading at over $10 a share, thus delivering a spectacular collapse… Read More

UK’s P2P Lending Market Experienced Steady Growth in 2023 and It’s Set to Continue Expanding in 2024, Sourced Capital Claims

The UK peer-to-peer (P2P) lending market witnessed “rapid” growth in 2023 and is set to continue into 2024, according to an update from  Sourced Capital. Although the market is growing according to reports from certain industry participants, there are many platforms/firms that have exited the… Read More

European P2P Lending Market Is Expected to Continue Growing in 2024, Analysts at Robocash Claim

The European continental P2P lending market is “subject to localized randomness, especially in times of crises,” according to an update shared by Robocash. Robo.cash analysts studied “the exposure of the continental European P2P lending market to the randomization effect.” The analysis included 54 European platforms… Read More

SaveLend Announces New CFO

SaveLend Group AB has announced the appointment of Jenny Gabrielsson as its new Chief Financial Officer. She will replace Jonas Ahlberg, who will remain with the company, continuing as Deputy CEO. SaveLend offers a savings platform (SaveLend) and the billing platform Billecta. SaveLend offers peer-to-peer… Read More

A Decade of Peer to Peer Lending: Folk2Folk

  While many P2P lenders have fallen to the wayside or moved on to accepting only institutional funding, Folk2Folk perseveres with its original mission. Today, Folk2Folk claims the title of the UK’s largest peer-to-peer lending platform in terms of cumulative lending, having facilitated £653 million… Read More

Flour Mill Cairnspring Mills Tops $1 Million in Just One Hour on Steward

Cairnspring Mills has raised over $1 million on Steward in just one hour, receiving the backing of 196 investors, according to a note from the platform. Cairnspring Mills went on to raise $2.8 million. Cairnspring Mills is a “craft flour mill” located in Washington’s Skagit… Read More

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