When I first started writing about Lending Club and Prosper years ago, I was intrigued by the ability for everyday average Americans to have the opportunity to earn the yield of a credit card company.
Goldman Sachs will open its online lending product this fall, competing with Lending Club and Prosper.
With an IPO on the horizon, subprime lender Elevate will have an additional $545 million credit faculty to support its growing customers.
Marketplace lending may not be prospering now but a resurgence could be on deck.
Marketplace lenders are suffering from reduced investor interest, but it’s not clear why.
LC looks to be easy pickings for an activist investor. Shares are down 80% since the IPO and a corporate governance shakeup is in order.
The volume of loans provided through marketplace lender LendingClub hasn’t substantially changed since a federal appeals court held that maximum interest rates are determined by the borrower.
Blackmoon, a Russian financial technology startup that analyses, screens and prices loans issued by others to sell on to investors, is opening a United States office to expand in the world’s biggest market for non-bank lending.