Damage from scandal continues to hit Lending Club
The San Francisco company reported a $32m loss during the fourth quarter, bringing its losses for the full year to $146m. Read more: www.americanbanker.com
ID Finance pockets $50m to expand into Latin America
Emerging markets-focused credit scoring and lending startup ID Finance is has raised $50m in debt funding to expand across Latin America. Read more: www.fintechroundup.com
A marketplace lender for real estate’s weekend warriors
Zeus Mortgage has rolled out an online real estate financing platform that seeks to match investors with property holders who need funding renovations. Read more: www.americanbanker.com
NatWest unveils online lending platform for SMEs
UK bank NatWest has launched a digital platform that lets small and medium sized businesses quickly apply for and obtain unsecured loans of up to £150,000. Read more: www.finextra.com
Float grabs $3m for millennial credit lending
Credit line lender Float has raised $3m in what it’s calling an angel round from investors include Camp One Ventures, Funders Club and 500 Startups. Read more: www.fintechroundup.com
India’s FinTech startups target subprime customers
There’s stress on Indian public sector banks due to mounting bad debt, and that has resulted in cautious lending. Read more: www.techinasia.com
Venture capital giant KPCB among latest Better Mortgage funding round backers
Tech-driven mortgage bank Better Mortgage has picked up a $15m Series B financing round from Kleiner Perkins Caufield & Byers, Goldman Sachs and Pine Brook. Read more: www.fintechroundup.com
China reports almost 500,0000 cases of P2P lending problems
A report in China News says there was a “surge in problematic peer to peer online lending” during 2015 and 2016. Read more: www.crowdfundinsider.com
Where SoFi-Zenbanx merger falls short
As positive as this partnership is, it won’t solve all of the challenges facing an alternative lender like SoFi to deliver sustainable funding for its loan portfolio. Read more: www.americanbanker.com
Spotcap strikes deal and nabs €14m from Heatland Bank
Online small business lender Spotcap has inked a partnership with New Zealand’s Heartland bank and secured €14m in funding. Read more: www.fintechroundup.com