Lending Club’s terrible twos
Whatever Lending Club does, however, it will need to do it soon, as its share price continues to suffer. As the writing of this piece, it is a $5.56 per share — a far cry from the $15 it started at two years ago. Read more: www.pymnts.com
First “Peer to Peer” Bank Raises $6m In Australia
The world’s “first peer to peer bank” has just departed stealth mode having received a $6 million investment to fuel the disruption of traditional banking. Read more: www.crowdfundinsider.com
Wonga hires new CFO to steer turnaround
UK lender Wonga has hired Joanna Baker as its new CFO as the firm attempt to restructure in the face of stricter regulation. Read more: www.fintechroundup.com
The big rebundling of peer-to-peer finance
This week, peer-to-peer lending platform Zopa announced Europe's first securitization of unsecured consumer loans. Read more: venturebeat.com
LoanTap grabs $3m to lend to professionals
LoanTap, a Mumbai-based online lender, has raised $3m in a Series A round. The capital comes from angel investors.
How FinTechs are using AI to transform payday lending
Fintech startups are using artificial intelligence to make loans with rates as low as 6% and with default rates of 7% or less. Read more: www.americanbanker.com
BorrowersFirst secures another $100m to power loan growth
Texas-based online lender BorrowersFirst has secured $100m in debt financing to accelerate loan originations and grow its balance sheet. Read more: www.fintechroundup.com
Westpac pumps $16.5m into mortgage startup
Australian bank Westpac is continuing to plough money into the region’s FinTech companies and investing $16.5m in online mortgage startup uno. Read more: www.fintechroundup.com
City regulator warns on peer-to-peer lending
FCA’s Andrew Bailey says hidden risks resemble some lending practices of Northern Rock. Read More: next.ft.com