Lending Club lands former BlackRock boss as chief capital officer
US marketplace lending platform Lending Club has hired ex-BlackRock executive Patrick Dunne as chief capital officer.
Lendico and PostFinance Launch Joint Venture in Switzerland
PostFinance one of the largest five retail banking institutions in Switzerland will partner with Lendico to launch joint venture Lendico Schweiz, which will facilitate loans to SMEs in Switzerland.
Insurer Aviva France to Lend €50 Million to SMEs Through Crowdlending Platforms
Aviva France, together with two partners, alternative asset management firm Eiffel Investment Group and insurer AG2R La Mondiale, is launching an investment fund called “Prêtons Ensemble” (Lending together) dedicated to financing loans to small and medium-size enterprises (SMEs) provided through crowdlending platforms.
Bank of England Launches Fintech Accelerator
The Bank of England is getting into the Fintech space. In a speech by Mark Carney, Governor of the Bank of England, Carney embraced the disruptive transformation that is impacting all forms of finance.
AmEx to launch online lending platform
American Express plans to enter into the online lending space with a new short term funding solution for businesses.
PayPal’s online lending business tops $2bn mark
PayPal Working Capital has now lent over $2bn to over 90,000 businesses across the UK, US and Australia.
Investors are getting bact to Lending Club
Stone Ridge Asset Management plans to buy about $1 billion of LendingClub loans this year, according to a person with knowledge of the matter. Many more investors are finishing due-diligence checks after the leadership shakeup, saying they also will purchase more.
The current development of portfolio on Žltý melón
Since launch there were provided 1,101 loans on Žltý melon worth a total of € 4,379,404. Until now investors got repaid the principal of € 2,529,415.17 and they gained € 788,307.83 on interest and fees. Up to the date were fully paid 285 loans which stands for 25.9 % of the portfolio.
UK Alternative Finance Industry Volume Update
The UK’s Alternative Finance Industry appeared to skip the Easter break with origination volumes in the month of March setting a new high watermark. £342.5m of financing was originated over the course of the month. This is a 12% uplift on February’s number and a 66% rise on the origination seen in March last year.
Chinese billionaire investor ups stake in Lending Club
The Singapore based Shanda Group owned by Chen Tianqiao has increased its stake in beleaguered P2P/marketplace lending platform Lending Club to 15.13 per cent, according to regulatory filings.
European Investment Bank backs Funding Circle with £100m
The European Investment Bank (EIB) has agreed to invest £100m through the Funding Circle platform, which comes alongside a £25m investment in the Funding Circle SME Income Fund.