OnDeck’s landmark “lending-as-a-service” partnership with JPMorgan Chase is expanding. OnDeck licenses its software to the bank to help power its online lending services for small businesses. The partnership, which was announced in 2015, will be extended up to four years, during which time Chase will refine and expand the proposition.
Kabbage, a company with some 115,000 customers and $3.5 billion in loans that has built an automated platform for lending money to small businesses and individuals using a large set of data points to determine a customer’s credit score, is announcing some big cabbage of its own.
The money is moving in China’s sprawling marketplace lending sector once more. Dianrong, a leading member of the nation’s vast P2P/marketplace lending sector, has closed a $220m Series D investment round.
Innovative Portuguese challenger bank Banco BNI Europa continues to beef up its roster of alternative lending partners. The latest to join is German mid-market business lending platform Creditshelf – which is well-known for originating bigger ticket loans than the majority of marketplace lenders.
Yet another marriage has been forged between Europe’s digital banks and marketplace lenders. This time the happy couple are N26 and German consumer credit marketplace auxmoney.
While the unfolding Brexit process has added to a list of summer worries for UK investors, those with a stake in the disruptive end of financial services have more reasons to cheer. The rapidly growing sector is seeing resilient growth, according to data provider Fintech Global, who has found that growth is robust.
One of Canada’s best-known online lending outfits has closed a $57m fundraise, comprised of $12m in equity capital and $45m in new credit facilities. The additional funds bring Borrowell’s total equity financing raised to date to $16.7m.
The world’s largest 100 alternative asset managers saw assets under management increase by 10 per cent in 2016, rising to $4trn, according to the 2017 edition of Willis Towers Watson’s Global Alternatives Survey.
Consumer leasing platform RentoMojo has secured $10 million in series-B funding from Bain Capital Ventures and former Lending Club CEO Renaud Laplanche. Existing investors Accel Partners and IDG Ventures also participated in the round.
Žltý melón launches p2p investment in secured loans to finance mortgage deposits and help homebuyers
Invest in secure loans to finance mortgage deposits with high returns; Limited time bonus offer of extra 1% return on Cash-Free Hypo loans; Average net earnings on the platform exceed 8% p.a. since 2012
iwoca has announced a strategic partnership with Italy’s Intesa Sanpaolo. The fintech lending platform will now sell its credit products into the Italian banking group’s SME client-base.