LendingClub Corp. hired a pair of Wall Street executives to strengthen relationships with investors.
The New York Times is reporting that the new consumer lending platform from Goldman Sachs will be called Marcus and will launch in October.
Avant Secures $255 Million Asset-Backed Securitization Led by J.P. Morgan, Credit Suisse and Morgan Stanley and Renews $392 Million Warehouse Facility.
A report by Deloitte and AIMA on the $560bn private credit market hails alternative credit as a “quiet revolution” in the way that companies secure funding.
Prosper is said to be discussing a $5bn loan purchasing agreement, with Lending Club rumoured to be exploring a similar deal for $1.5bn.
BI Intelligence forecasts that UK P2P lending will grow at a 45% five-year compound annual growth rate, reaching £16 billion ($23 billion) by 2020.
With an IPO on the horizon, subprime lender Elevate will have an additional $545 million credit faculty to support its growing customers.
Prosper Marketplace Inc. is setting up a private fund that will purchase consumer loans arranged through its online platform.
CommonBond, one of the major players in online student loans announced their Series C equity round. The total raise, which is over $300 million includes both equity capital as well as capital to fund loans.