Greetings,
The new year is already in full swing and so are the P2P/Consumer Credit conferences. PeerIQ will be attending the following conferences (and we look forward to seeing you there):
- Continuum Credit Conference in San Francisco next week (Jan 27-28); The conference will highlight the rapid P2P growth in China, and Ram is slated to speak on a panel entitled “Securitization: Opportunity for Marketplace Lenders”
- Context Summits in Miami (Feb 3-5); Ram will moderate a panel that explores the opportunities and risks for allocators considering P2P hedge funds for investment exposure
- ABS Vegas in Vegas (Feb 28-March 2), where PeerIQ is featured on the “Development of Securitization in Marketplace Lending” panel
- LendIt Conference in San Francisco (April 11-12)
Industry Update:
Last week hit the markets hard, with many wondering whether the first two weeks of January presage a slowdown in global growth. Still, we have a number of positive developments, including new securitizations, solid ABS projections, and a mega fundraise in China. Further, bank earnings had good news with Citi reporting its biggest annual profit in a decade. Finally, PeerIQ got a nice mention as one of the top seed venture deals of 2015:
- SoFi’s ABS Production Acceleration (AB Alert, PDF Attached) SoFi to double securitization volume in 2016—ramping up consumer and education loans
- Enova Closes $107 Million Securitization Led by Jefferies (PR Newswire, 1/15/16) Enova hits significant growth milestone with its first asset-backed securitization led by Jefferies·
- Basel Committee softens new rules on bank capital (FT, 1/14/16) Lobbying efforts of banking industry paid off—capital requirements greatly reduced from previous estimates
- Structured Finance Likely To Grow Moderately In 2016 While Leaving Significant Securitization Capacity On The Table (Business-Standard.com, 1/12/16) Despite constraints on the use of securitized products, 2016 to see higher issuance volumes, as supported by slowly growing global economy
- Digital Lending: The $100 billion dollar question (Autonomous, Jan 2016) How big is the future for digital lending?
- Ping An-backed lending platform Lufax raises $1.2 bln from investors (Reuters, 1/18/16) Lufax gets more funds, eyes IPO for second half of 2016
- The Top 15 Most Important Fintech Stories of 2015 (Forbes, 12/29/15) Totaling $8 billion, VC investments in Fintech startups almost doubled in 2015—a look back on the top stories of 2015
Lighter Fare:
- Bowie: The Man Who Sold Royalties and Brought Music to Bonds (Bloomberg, 1/11/16) ‘Bowie bonds’—bonds backed by royalties—set the stage for influx of unusual securitization financing and a new market for securitizing intellectual property