This week’s news was led by our $2.5M raise and onboarding of Victory Park Capital as an platform client. Fenway Summer Ventures, as well as Uprising and John Mack also participated. Had an extended write up in the WSJ that is worth checking out: https://blogs.wsj.com/moneybeat/2015/09/14/more-early-funding-pours-into-online-lending-data-startup/
Also, it was great seeing so many of you at ABS East this week. Interest in marketplace lending is still accelerating: the P2P panels were all standing room only. We’ll be exhibiting our platform at IMN’s Marketplace Lending Investors Conference, here in NYC on October 29th. See more here. Hope to see many of you there.
Lots of other company raises and sector developments this past week. Here are some of the highlights:
Lending Club Opens to Investors in Indiana, Kansas, and Nebraska (PR Newswire, Sep 18, 2015) Lending Club continues to expand, now offering its loans to investors in three additional states.
Avant Enters the Great White North (Chicago Business, Sep 17, 2015) Avant will offer personal loans from $2,000 to $15,000 in Canada.
CircleBack Lending Completes $17.4M Equity Round; Arranges up to $500M in Loan Purchases with Pine River Capital (CrowdFund Insider, Sep 15, 2015) Big milestone for CircleBack who also secured a $500M loan purchase agreement with Pine River Capital. Early CircleBack investor, Wicklow Capital (a PeerIQ investor too) participated with a follow-up investment.
Prosper Marketplace & Radius Bank Join Forces to Offer Personal Loans Through Online Lending Platform (CrowdFund Insider, Sep 16, 2015) Partnership allows people to apply for personal loans online from anywhere.
Tech Firms Venture Into New Territory: Lending (WSJ, Sep 16, 2015) Intuit Inc. and OnDeck teaming up to create a $100M fund.
Fast-Growing P2P Sector Set for Shakeout (WSJ, Sep 15, 2015) Increased cost of regulatory compliance in the UK costing P2P firms some serious cash.