Why most P2P lenders have not yet offered IFISAs
After many months of the new Innovative Finance ISA being approved there are only several leading P2P lenders participating in the savings program. Read more: www.crowdfundinsider.com
Lending Club’s losses grow as CFO resigns
Following the ousting of its former CEO Renaud Laplanche, peer-to-peer marketplace Lending Club continues to struggle, posting widening year-on-year losses for Q2 2016.
Affirm nabs $100m credit facility from Morgan Stanley
Lending startup Affirm has secured a $100m credit line from Morgan Stanley as the San Francisco company looks to facilitate more point-of-sale financing. Read more: www.fintechroundup.com
High rate of defaults hit P2P lending sector
Investors in the peer to peer (P2P) lending sector have seen their returns suffer due to a high rate of borrower defaults among start-ups. Read more: www.finextra.com
South Korean insurer buys 4.1% stake in Lending Club for $66m
South Korea’s Hanwha Life Insurance has acquired a 4.1% stake in troubled peer-to-peer lending firm Lending Club. Read more: www.fintechroundup.com
First Circle bags $1.3m to bring SME lending to South-East Asia
South-East Asian SME lender First Circle has raised $1.3m in a new round from Accion Venture Lab and Deep Blue Ventures. Read more: www.fintechroundup.com
LendUp lands $100m credit facility
Payday loan alternative startup, LendUp, announced this week it has received a $100m credit facility. Read more: www.finovate.com
Lendio see 86% growth in loans, passes $250m milestone
Online loans marketplace Lendio is reporting strong growth for Q2 2016, with the value of loans facilitated through the platform increasing by 86% year on year.
Relendex reaches milestone with full FCA authorisation
Relendex has reached a significant milestone with full authorisation from the Financial Conduct Authority. Read more: www.prnewswire.com
Lending Club Chief Capital Officer reassures investors
Lending Club (NYSE:LC) has been stocking up on new executive hires during the past several months. Read more: www.crowdfundinsider.com