Happy Labor Day!

By Vy Phan

September 1, 2019

Greetings,

We at PeerIQ want to wish you a safe and relaxing Labor Day weekend. We leave you with some headlines from this week.

Industry Update

Big Tech and banks are vying for the same consumer (Yahoo, 8/25/2019) Financial institutions are looking to get in on the same day-to-day consumer interaction that big tech has secured for years.
Podcast 212: Arad Levertov of Sunbit (Lendit Fintech, 8/23/2019) In this week’s podcast, Peter Renton talks with the CEO and founder of Sunbit, Arad Levertov.
Peer-to-peer industry faces harsh reality when winter comes (FT, 8/26/2019) With recent global economic uncertainty, P2P services are looking forward to a long, hard winter.
Fair gets $100M in debt and equity from Ally in expanded vehicle financing pact (Mobile payments today, 8/27/2019) California based vehicle subscription app collaborates with Ally, looking to provide easy access to cars for those who cannot qualify for a traditional car loan.
ZeroDown Raises $100mn in Debt from Credit Suisse to Solve Affordable Housing (Lendit, 8/27/2019) Company that buys homes for consumers and expects a five year return payment with interest is linking with Credit Suisse to help solve housing crises in expensive cities.
Bond Raises $10 Million Seed Round to Accelerate the Pace of Financial Innovation (Cision, 8/27/2019) Company that develops enterprise-grade fintech platforms to accelerate fintech growth and reduce the “friction” involved in being an early adopter secures investments from Canaan, Coatue, and various angel investors.
Goldman Sachs, Point72 and others invest $42 million in Mexico's Credijusto (Reuters, 8/29/2019) Credit lender that originated $90MM in loans to small businesses across Mexico secures investment from GS, looks to become a standout in Mexico’s fintech scene.

Lighter Fare:

Uh-oh: Silicon Valley is building a Chinese-style social credit system (Fast Company, 8/26/2019) Straight out of a Black Mirror episode, and China, social credit systems are being build into our daily lives with every app we download.