financial services
Celsius Network, a Cryptocurrency Lending Platform, Hires GC
Celsius Network, a cryptocurrency lending company, is part of a recent wave of crypto companies bolstering their legal departments with hires from corporate law firms. Celsius Networks is looking to expand its financial services and has recruited Ron Deutsch as general counsel. Built with a mission to increase access to financial services, the blockchain-based platform …
Fintech company Sharegain raises $64 million for a securities lending platform
The Israeli startup has developed a securities lending-as-a-service (SLaaS) solution, which allows online brokers, private banks, asset managers and custodians to lend their stocks, bonds and ETFs. Meir Orbach 10:3015.02.22 Fintech company Sharegain, which has developed a securities lending platform, announced Tuesday that it has raised $64 million in a Series B funding round led …
Crypto lending firm BlockFi to pay $100 million fine in securities case
BlockFi, a company that paid high interest rates to cryptocurrency investors for lending their digital assets, agreed to pay $100 million in fines to the Securities and Exchange Commission and 32 states for violating securities laws and misrepresents the risk of his business. . The case marks the federal market regulator’s first against a crypto …
Paytm Sets New Lending Record and Builds Payments Leadership
Lending activity reaches 1.9 million loan disbursements in the month, a year-on-year growth of 331%; aggregating to a total value of INR 921 Cr (334% YoY growth) The leadership of offline payments is further strengthened; the number of devices deployed stands at 2.3 million Highest-ever growth in average monthly transactional users (MTU) to 68.9 million, …
Cash Converters unpacks the revenue profile of its lending business
Cash Converters has strengthened its revenue profile by moving from small to medium size loans. Cash Converters (ASX:CCV), Australia’s largest subprime lender and second-hand property retailer, has explained the inherent lag in the revenue the firm recognizes on the loans it underwrites, to help investors appreciate the difference between its half-year results. The company generates …
Digital Lending Platform Market Size, Scope (2022-2030)
New Jersey, United States,- This Digital Lending Platform Market report conducts industry-based research to inform the latest market developments. Important factors, customer expectations, customer behavior and business tactics are some of the vital factors covered in this market report. It also discusses some key strategies used by economic players such as acquisitions, new service and …
Crypto Lending Platform Hodlnaut Holds Content Creation Contest – Winners Get Free Crypto & Cool Gifts
Photo by Kanchanara on Unsplash This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investment advice. Adding to its list of creative initiatives, the crypto lending company Hodlnaut announced its latest project: the Content Creation Contest. “If you enjoy creating crypto-related content or just want …
Global digital lending platform TSLC announces 2 key leadership appointments
Global digital lending platform The Social Loan Company (TSLC) has announced the appointment of two key hires, aimed at strengthening its global leadership team as it expands into emerging and frontier markets. The company has appointed Ziad Sawalha as Group Chief Technology Officer (CTO) and Shagorika Heryani as Chief Marketing Officer. Both will report to …
Principal® expands direct lending business in 2021 with an eightfold increase in committed capital
DES MOINES, Iowa–(BUSINESS WIRE)–Major global investors®, through its direct lending business, Principal Alternative Credit, closed 2021 with a more than eight-fold increase in committed capital, advancing its plans to expand its private debt capabilities. Marking the completion of its first full year in the direct lending market, Principal Alternative Credit closed nearly 40 deals, including …
401% increase in Paytm lending activities, GMV recorded at 37% for the third quarter of fiscal 22
Paytm saw a 401% peak in its lending business and 37% year-over-year growth in its gross value of merchandise (GMV) in the third quarter of fiscal 2022, reported One97 Communications, the parent organization of Paytm in a regulatory filing Monday. The gross value of merchandise, which is the value of the total payments made by …
Digital Lending Platform Market Size, Trends, Forecast to 2029
New Jersey, United States, – the Digital Lending Platforms Market is thoroughly researched in the report, primarily focusing on the major players and their business tactics, geographic expansion, market segments, competitive landscape, manufacturing, and price and cost structure. Each section of the study is specially prepared to examine key aspects of the Digital Lending Platform …
FundCanna Raises $ 30 Million for New Loan Company
A veteran of the financial services industry, Adam Stettner has started a new loan company, Canna Fund to provide funding to growers, manufacturers, retailers and all participants in the cannabis supply chain. The company said it had raised $ 30 million but could derive even more through its constituents, investors and partners, including a vast …
Cannabis-focused lending company FundCanna launches with $ 30 million available debt financing
The cannabis industry on Thursday hosted the new cannabis-focused loan company FundCanna launched, co-founded by financial services veteran Adam Stettner. FundCanna said it providing the burgeoning marijuana industry with a well-funded platform for growers, producers, retailers and all participants in the cannabis supply chain. The initial products will be look like factoring offers, often seen …
P2P lending platform LenDenClub raises $ 10 million to develop its business
LenDenClub aims to grow with a 5-fold increase in disbursements over the next 18 months Investors include Kunal Shah, Alok Bansal and Hardik Pandya As of August 2019, he had raised $ 1.5 million as part of his pre-Series A round Peer-to-peer (P2P) lending startup LenDenClub raised $ 10 million in a Series A round …
Algofi raises $ 2.8 million for its blockchain-based decentralized lending platform
After much anticipation, we are starting to see real use cases for blockchain as it moves from abstract theoretical concepts to practical applications that have the potential to change the standard order. The promise to decentralize finance by decoupling the transactions and activities of old banks to the public via blockchain is driving innovation towards …
Korea’s Leading Online Lending Platform, PeopleFund Raises KRW 75.9 Billion Series C Funding Led by Bain Capital
Biggest amount raised of all lending platforms focused on consumer lending in Korea Funding from global financial institutions including Bain Capital, Lending Ark Asia Secured Private Debt Fund, 500 Global Goldman Sachs Secures Principal Exposure And Principal Funding For Debt Warehousing Facility With Lending Ark Asia Secured Private Debt Fund “We remain committed to accelerating …
Athene and Apollo acquire majority stake in $ 1 billion listed lending platform Aqua
Financial services firm Athene has acquired a controlling stake in a fund-backed consumer lending platform managed by leading investment firm Blackstone. Aqua Finance’s subsequent assessment sees it hit the billion dollar mark. Apollo estimates an annual execution rate of $ 80 billion of asset origination on its platforms, which cover commercial and consumer loans. Apollo’s …
Huobi Brokerage Launches Huobi Lending, a New Crypto Lending Activity for Institutional Investors
HONG KONG, November 30, 2021 / PRNewswire / – Huobi Technology Holdings Limited (“Huobi Tech” or the “Company”, stock code: 1611.HK) today announced the launch of Huobi Lending, a cryptocurrency lending service, in response to financing needs of institutional investors and high net worth individuals. The services will be provided under Huobi Brokerage, a digital …
Huobi Brokerage Launches Huobi Lending, a New Crypto Lending Business for Institutional Investors
Warning: This is a sponsored press release. Readers should conduct their own research before taking any action related to the content mentioned in this article. Learn more > HONG KONG, November 30, 2021 – Huobi Technology Holdings Limited (“Huobi Tech” or the “Company”, stock code: 1611.HK) today announced the launch of Huobi Lending, a cryptocurrency …
On the supply side: More retailers are offering “buy now, pay later” vacation financing
Buy now, pay later, financing is becoming a staple for Walmart, Amazon, Target and many other retailers ahead of the holiday shopping season. Walmart was the king of layaways for years, offering consumers the flexibility to purchase holiday gifts or other big-ticket items on time and at no additional cost. One caveat was that consumers …
Digital Lending Platforms Market 2021-2026 Size and Share, Recent Improvements, and Regional Analysis
The World Report Digital Lending Platforms Market has been provided by researchers for a detailed understanding of the market performance over an estimated period of 2021 to 2026. However, this report has introduced a brief overview to provide the reader with better insight into this report. This brief description contains a basic definition of the …
Digital Lending Platforms Market Trends 2021: Size, Share and Ratio to 2026
The Digital Lending Platforms Market has categorized the market on the basis of type, component, deployment model, and industry vertical. SHERIDAN, USA, Nov 15, 2021 /EINPresswire.com/ – According to IMARC Group’s latest report, titled “Digital Lending Platforms Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021 -2026 ”, the global digital lending platform …
Borrowell Co-Founder Secures Seed Capital for Savvyy to Tackle the Banking Side of Digital Lending
Members of Borrowell’s founding team, including co-founder Salim Naran, recently secured C $ 3.1 million for a startup they launched in 2017 to tackle the banking infrastructure side of digital lending. Over the past five years, Naran and his team have created a platform they believe transforms banks into FinTech, focused on modernizing loan processing. …
Jaja Finance announces a strategic investment to develop its digital consumer credit business
– Jaja Finance offers digital credit products focused on simplicity, functionality, service and security – Consortium, comprising entities affiliated with the existing shareholder KKR and the new shareholder TDR, to become the majority shareholders of Jaja – Investment to drive the public launch of the Jaja credit card and other initiatives Digital lender Jaja Finance …
Global Digital Lending Platform Market Share, Size, Trends, Industry Analysis Report 2021-2028 – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD) – The report “Digital Lending Platform Market Share, Size, Trends, Industry Analysis Report, By Solution, By Service, By Deployment, By Region; Segment Forecast, 2021 – 2028 “has been added to ResearchAndMarkets.com offer. Global Digital Lending Platforms Market Size Expected To Reach USD 26.26 Billion By 2028 The markets are determined by …
Digital lending platform market aims to grow in double digits
The economic, financial, and social aspects of the advancement of the industry are covered in this Digital Lending Platform Market report to assist industry participants in making critical and important decisions. Parents’ guiding elements and marketing channels are also included in this market research. In addition, it tries to offer comprehensive lens data as well …
2028 Digital Lending Platform Market Size and Forecast
New Jersey, United States, – The Digital Lending Platforms Market The report comprises broadly analyzed data and information on the Digital Lending Platform market with detailed analysis of key models, emerging trends, infrastructure properties, industrial landscape, and key market segments. The report provides a comprehensive analysis of the market growth and factors influencing the market …
2021 Digital Lending Platform Market Outlook, Demand, Regional Analysis, Industry Value Chain
Detailed study and analysis of the Global Digital Lending Platforms Market highlights new trends in the digital lending platform industry and provides businesses with business information. This study helps manufacturers, suppliers and investors, CEOs to identify opportunities and business optimization strategies to improve their value in the global Digital Lending Platform market. Provides important information …
Digital Lending Platforms Market Size, Growth 2028
New Jersey, United States, – The Digital Lending Platforms Market The Verified Market Research report is a meticulously conducted study. Experts with proven credentials and high levels within the research fraternity presented an in-depth analysis of the topic, drawing on their unparalleled knowledge of the field and extensive research experience. They offer insightful insights into …
Illegal online loan company raided in Yogyakarta, 83 employees detained
Yogyakarta (ANTARA) – West Java police have arrested 83 employees of an illegal online loan union operating in Depok subdistrict, Sleman district of Yogyakarta. Yogyakarta Police joined the West Java Police Special Criminal Investigations Directorate in the raid and conducted a preliminary investigation at the scene, Yogyakarta police spokesperson Chief Commissioner Yuliyanto said on Friday. …
Fiserv launches a credit and lending platform for SMEs
Payment and financial services provider Fiserv has launched a digital credit and lending platform for small and medium-sized businesses (SMEs). “Fiserv’s latest offering, leveraging FinTech StreetShares’ Atlas platform, enables financial institutions to manage the entire loan lifecycle, from digital document capture to underwriting, offering management and closing, meeting the expectations of staff and customers, “the …
Global Digital Lending Platform Market Development and Trend Report 2021-2026
The last Digital Lending Platforms Market The report serves as a valuable resource for data regarding the trajectory of the industry over the forecast span. It critically examines the key growth drivers, bottlenecks and rewarding perspectives that influence industry dynamics. In addition, the literature consists of detailed segmentation data, as well as in-depth profiles of …
Community Bankers Trust Company. (AMEX :), Bitcoin – United States Dollar (CRYPTO: $ BTC) – This AI lending platform has a better 3 month return than Bitcoin, Ethereum and Dogecoin
High-flying cryptocurrencies and growth stocks are among the most regularly played assets by traders and investors in 2021. And in recent times there have been a number of clear winners among the assets. Since June, Upstart Holdings Inc The stock’s three-month return (NASDAQ: UPST) outperformed several of the world’s most popular cryptocurrencies: Bitcoin (CRYPTO: BTC), …
Ant Group’s consumer loan firm Huabei shares credit reports with China’s central bank
Ant Group ‘Buy Now, Pay Later’ consumer loan business, Huabei, is now part of the People’s Bank of China (PBOC) credit system, following the unbundling of the Alipay super app and the Chinese authorities ‘takeover of clients’ finances. data accumulated by large fintech companies. The information Huabei forwards to PBOC includes all account registration dates, …
WSFS, partner of a Californian company to offer an online lending platform
Reading time: 2 minutes WSFS Bank has launched a digital personal loan product powered by Upstart, an artificial intelligence lending platform. WSFS ‘partnership with Upstart extends the bank’s personal loan offerings to a broader and more inclusive customer base, according to a statement. “WSFS Bank is delighted to partner with Upstart, combining its cutting edge …
Digital Lending Platforms Market: Latest COVID-19 Analysis
Digital Lending Platforms Market Allied Market Research has released a new report titled “Digital Lending Platform Market by Component (Software & Service), Deployment Model (On-Premises & Cloud), Type (Decision Automation, Collection & Retrieval, Loan Processing, Management) risk and compliance, and others) and industry verticals (banks, insurance companies, credit unions, savings and loan associations, peer-to-peer lending …
mcapital: Mswipe’s lending activity appoints Tanya Chadha COO
Mcapital, Mswipe’s lending business, has announced the appointment of Tanya Chadha as Chief Operating Officer (COO), according to a statement released today. With over 16 years of financial services and credit experience, she will oversee building a loan portfolio of Rs. 100 crore by March 2022. Her appointment comes as Mswipe prepares for a license …
Mswipe Lending Business Appoints Tanya Chadha as COO
Tanya Chadha, Director of Operations, Mcapital. Mcapital to meet the credit needs of MSMEs; aims to build an INR 100 Crore loan portfolio by March 2022 Mumbai, September 21, 2021: Mcapital, Mswipe’s lending business, today announced the appointment of Tanya Chadha as Chief Operating Officer (COO). With over 16 years of financial services and credit …
Anil Ambani, Real Estate News, ET RealEstate
MUMBAI: The successful completion of the Reliance Commercial Finance (RCF) and Reliance Home Finance (RHF) resolution process will help Reliance Capital reduce its consolidated debt by 50% or Rs 20,000 crore, Chairman Anil Ambani said on Tuesday. Earlier this year, the lenders selected Authum Investment and Infrastructure Limited (Authum) as the successful bidder to acquire …
Solving two loan cases to reduce Reliance Capital’s debt by 50%: Anil Ambani
The success of the Reliance Commercial Finance (RCF) and Reliance Home Finance (RHF) resolution process will help Reliance Capital reduce its consolidated debt by 50% or Rs 20,000 crore, Chairman Anil Ambani said on Tuesday. Earlier this year, the lenders selected Authum Investment and Infrastructure Limited (Authum) as the successful bidder to acquire RCF and …
The Other Side of Angela Merkel’s 16 Years as German Chancellor
This summer, as the pandemic eases and Europe opens again for business and pleasure, the Merkel era will end. After her 16-year reign as Germany’s chancellor, Angela Merkel deserves admiration and praise on many counts. When she made history in the fall of 2005 as the first woman to be elected chancellor, unemployment stood at …
Digital Lending Platform Market Size, Share, Growth, Trends,
The global digital lending platform market size was valued at $ 5.58 billion in 2019 and is expected to reach $ 20.31 billion by 2027, with a CAGR of 16.7% from 2020 to 2027. The digital lending platform helps banks to deliver different financial services, such as faster loan processing, high-quality services, and cost-effective financial …
DirectBooks Welcomes Global Underwriter SMBC as 16th Selling Member on Platform
NEW YORK, August 31, 2021 / PRNewswire / – DirectBooks, the capital markets consortium founded to optimize global financial markets, today announced that SMBC Nikko Securities America, Inc. (SMBC Nikko), a member of the SMBC Group, one of the largest global financial institutions, joined the DirectBooks platform. This addition brings the DirectBooks underwriting community to …
Xiaomi India Delays Crypto Offers With Launch Of Lending Platform
Despite its diversification into a full spectrum lending platform, Xiaomi India still does not offer cryptocurrencies at this time. The lending business of the Chinese cellphone maker operating in the subcontinent, which started as part of its internet service business, will clearly focus on the payments, lending and insurance verticals. The company is now launching …
Blend Labs Lending Platform Raises $ 360 Million in High-End IPO
(Bloomberg) – Blend Labs Inc., a lending platform for financial companies, raised $ 360 million in a first public offering price at the top of a marketed range. San Francisco-based Blend sold 20 million Class A shares on Thursday for $ 18 each, according to a statement. The company had marketed $ 20 million between …
Volkswagen Finance Withdraws From Lending Activity In India; In preliminary talks with the bankers
As the Indian branch of Volkswagen Financial Services seeks to end its lending business in the country, it is in talks with leading banks to transfer its existing dealer and vehicle finance business. Volkswagen Finance Private Limited (VFPL) is at an advanced stage of talks with banks including Axis Bank, Kotak Mahindra Prime and ICICI …
Indian SME invests INR 60Cr in KreditBee lending platform
The current round is a follow-on investment tranche from the Indian SME after investing INR 28.4 crore in the form of debt in Kredtbee’s parent company. KreditBee plans to use this funding to expand its loan portfolio by introducing financial services such as Buy-Now-Pay-Later and insurance. KreditBee previously raised $ 145 million in its Series …
Line of credit vs credit card vs short term loans: which one should you go for?
People today have many options such as credit cards, lines of credit, and short term loans to meet fixed monthly expenses. The coronavirus outbreak has left people in dire straits due to job losses, pay cuts and business closures. As this resulted in irregular income, industry experts claim that it increased the demand for monetary …
OppFi named “Best Consumer Loan Company” by FinTech Breakthrough Awards
This award marks OppFi’s FinTech Breakthrough’s second consecutive victory for the company. The fintech company was named ‘Best Consumer Loan Platform’ in 2020. With an average rating of 4.9 / 5 stars based on over 14,000 online customer reviews, OppFi is one of the platforms highest rated digital financials by clients and maintains an average …
Named “Best Global Business Lending Company” in the 2021 FinTech Breakthrough Awards Program
Numerated was named Best Business Loan Company of 2021 by FinTech Breakthrough. Numerated is once again breaking into the fintech space this year by expanding its technology to even more areas of business banking and innovating rapidly to help banks and credit unions cope with the COVID-19 pandemic. BOSTON (PRWEB) March 16, 2021 Numbered, the …
Karur Vysya Bank and Cholamandalam Investment join forces for co-lending activities
the financial services arm of the Murugappa group, jointly announced that it has successfully launched co-lending activities in partnership. The co-loan partnership with KVB opens up new business opportunities by allowing access to new customers for KVB and Chola The model not only allows the two companies to effectively size their portfolios, but also uses …
Metrics implements nCino to grow its business lending activity
SYDNEY, Australia, February 01, 2021 (GLOBE NEWSWIRE) – nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Metrics credit partners, one of Australia’s leading non-bank lenders, has adopted the nCino Bank Operating System® transform their business lending practices to further support sustained …
Renewable energy investment wave continues as solar lender Loanpal raises $ 800 million – TechCrunch
Days after billionaire investor Chamath Palihapitiya announced his involvement in the $ 1.3 billion acquisition of solar lending and home improvement firm Sunlight Financial, a group of investors announced a close injection. a billion dollars in Loan pal, another renewable energy and home improvement lender. The $ 800 million pledge to Loanpal comes with a …
Brazilian loan firm Creditas raises $ 255 million as fintech explosion in Latin America continues – TechCrunch
Credits, the Brazilian lending firm, has raised $ 255 million in new funding as financial services startups across Latin America continue to attract massive amounts of cash. The company’s credit portfolio has crossed 1 billion reals ($ 196.66 million) and the new round values the company at $ 1.75 billion thanks to $ 570 million …
Chola launches co-lending business – The Financial Express
Nucleus Software’s advanced co-loan solution will help Chola process co-loan applications much faster, assess credit risk with a robust framework, and ensure compliance with regulatory requirements. Cholamandalam Investment and Finance Company (Chola), the financial services arm of the Rs 38,000 crore Murugappa Group, has launched its new co-lending business. The company is in the process …
Chola Investment and Finance Launches Co-Lending Business with Nucleus Software Technology
Nucleus Software, the leading provider of lending and transaction banking solutions, has announced that Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of Murugappa Group, has successfully implemented the advanced co-lending solution from Nucleus Software. The co-lending model is a great opportunity for banks and NBFCs to leverage each other’s strengths. The …
Chola launches co-loan business with technology from Nucleus Software
Nucleus Software, the leading provider of lending and transaction banking solutions, announced that Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of the Murugappa Group, has successfully launched Nucleus’ advanced co-lending solution Software. The co-lending model is a great opportunity for banks and NBFCs to build on each other’s strengths. The co-loan …
Indonesia Watchdog blocks cryptocurrency lending platform
The Indonesian Financial Services Authority, known as OJK, has identified and blocked nearly 300 illegal peer-to-peer lending platforms, including a cryptocurrency company. According to Nikkei, OJK’s investment alert unit has partnered with the IT ministry and local police to launch a crackdown on unlicensed FinTech platforms. Investigations revealed that most of the unregistered lending platforms …
FinTechs Are Changing Small Business Lending
Right now, financial markets around the world are shaken by the current coronavirus pandemic (COVID-19). It’s a fluid situation with an uncertain outcome, and no one really knows what the long-term economic effects will be. The only things that seem certain is that the stock markets are choosing to ignore the pandemic right now, while …
Square tests low-value short-term loans
Cash App, Square Inc.’s mobile payment app, has launched a pilot program to offer short-term loans of up to $ 200, TechCrunch reported. “We are always testing new features in Cash App and recently started testing the ability to borrow money with approximately 1,000 customers,” a Cash App spokesperson said in a statement. “We look …
Paytm appoints Bhavesh Gupta as CEO of its lending business
Bhavesh Gupta Financial services platform Paytm has announced the appointment of Bhavesh Gupta as managing director of the company’s lending activities. Open call for applications for the BuzzInContent Awards 2020 ENTER NOW Gupta will develop and expand Paytm’s lending services to strengthen the company’s vision for financial inclusion for 500 million Indians. Under his leadership, …
Paytm appoints Bhavesh Gupta as CEO of lending business
One97 Communications Ltd, which operates Paytm, has appointed Bhavesh Gupta as Managing Director (CEO) of its lending business. In his new role, Bhavesh will develop and expand Paytm’s lending services and help the company create new credit products for customers and SMEs in partnership with other banks and NBFC. Gupta will report to Amit Nayyar, …
Japan’s MUFG to expand lending business in Thailand with Grab’s big data
Band Takashi Umekawa and Takaya Yamaguchi TOKYO, July 13 (Reuters) – Mitsubishi UFJ Financial Group Inc of Japan 8306.T will begin loaning to Grab users and drivers in Thailand to monetize its $ 706 million investment in the ridesharing company as its domestic market growth slumps, its chief executive said. MUFG agreed to invest in …
Amazon and Goldman Sachs team up for SME lending
Amazon is reportedly partnering with Goldman Sachs to launch a digital line of credit for its U.S. sellers through the bank’s digital-only banking arm, Marcus, through CNBC. Business Insider Intelligence Amazon sellers will receive invitations to apply for lines of credit up to $ 1 million from Marcus, with a fixed annual interest rate between …
From Cash Cow to Achilles Heel: Transforming the Consumer Lending Industry
Stress in the consumer lending industry, which was once a cash cow for banks and non-bank financial services, only appears to be intensifying, as statements and updates from these lenders suggest. A critical highlight in RBL Bank’s media statement regarding its business updates relates to its credit card segment. “Acquisitions stopped during the …
The mortgage company will play the supporting role: Tic: Toc
FinTech shed light on its long-term strategy in the mortgage market following the launch of its new business activity. Last week, fintech lender Tic: Toc Home Loans announced the launch of its first ‘software as a service’ (SaaS) product, XAI Validate, which was reportedly designed to simplify the home loan application process for lenders and …
NBFC U Gro Announces First Year Profits for SME Lending Activities
Company says it disbursed loans worth 1K Cr INR in Q3 U Gro has launched a direct consumer lending platform, GRO-Direct U Gro raised 100 Cr INR from the Sachin Bansal and Poonawala family in 2019 Mumbai-based non-bank finance company U Gro Capital, which started disbursing loans in January 2019, announced that it had reached …
Sanjiv Bajaj sees ‘slight uptick’ in consumer credit business
So consumer loans and SME loans – we’ve talked about those two, but we also do business loans. We started ten years ago with Bajaj Auto supplier loans, we knew we were expanding that to automotive segments, and we went through segments. We lend to light engineering because we believe the dynamics of these segments …
Paytm is betting big on its online lending business and looking to turn it into a major revenue stream
Since a payment bank is not authorized to lend, the company is considering the possibility of obtaining an NBFC license. Fintech startups getting into lending have become the norm rather than the exception. One of the oldest players in this sector, Paytm, now wants to develop its lending business and would like to obtain an …
Gain FCU Battles Nearby Loan Company For Trademarks
Several credit unions face trademark lawsuits. (Source: Shutterstock) Gain Federal Credit Union, based in Burbank, Calif., Is suing a nearby consumer credit company whose name and logo it says are too similar to the credit union and confusing consumers. In its lawsuit filed in U.S. District Court, the Credit Union, which has $ 352 million …
Fireblocks Now Secures Largest Crypto Lending Company In The United States
NEW YORK, November 19, 2019 / PRNewswire / – Firewall (www.fireblocks.com), an enterprise platform for securing digital assets in transit, announced today, Celsius Network, the the biggest provider of interest income and digital asset lending in more than 150 jurisdictions around the world uses Fireblocks to help protect more $ 400 million assets and 53,000 …
Marianne Lake, CFO of JPMorgan Chase, will lead the bank’s consumer lending activities
JPMorgan Chase is making some changes to its senior management. The mega-bank announced on Wednesday that its current CFO, Marianne Lake, will become the CEO of its consumer lending business, which includes mortgages, card services and auto finance. Lake, which is took into consideration being one of the potential replacements for CEO Jamie Dimon when …
Apollo and Athene Acquire Aviation Lending Business from GE Capital | New
Apollo Global Management and Athene Holding acquired an aircraft lending business from GE Capital. In a joint statement, the companies said that Apollo will buy the aircraft lending platform from PK AirFinance and that Athene will acquire the existing loan portfolio of PK AirFinance from the Aviation Services (GECAS) unit of GE Capital for an …
Xiaomi Set To Enter India’s Consumer Loan Industry With Mi Credit
The stakes are high for the world’s fourth largest mobile phone provider, whose business model is based on low-margin hardware sales with services as a key long-term profit center. The company reported disappointing second quarter results on Tuesday, and its shares are trading at just over half of their 2018 IPO price. Xiaomi is betting …
SecurCapital acquires the lending activity of Breakout Capital Finance
Steve russell, CEO of SecurCapital commented: “We are delighted to have found a highly respected team and an innovative business model in the area of finance for small businesses. I share the vision of the founder of the enormous potential of FactorAdvantage. loan solution and I think we now have the platform and the capital …
5 platforms that could help you get short-term loans for your business
Sufficient capital is necessary for the proper functioning of any business. However, various small business entrepreneurs find it difficult to obtain loans. Although there are various MSME financing programs and platforms for micro, small and medium-sized enterprises, not all entrepreneurs are able to obtain low-interest, collateral-free loans. With the rise of fintech platforms, obtaining business …
KeyBank to Acquire Laurel Road Online Lending Business
CLEVELAND, January 16, 2019 / PRNewswire / – KeyBank National Association today announced that KeyBank and Laurel Road Bank have entered into a definitive agreement to acquire Key’s digital lending business from Laurel Road; The three Laurel Road bank branches located in the south-east Connecticut are not part of this transaction. With this acquisition, Key …
Seminole Financial Services in Belleair Bluffs, Fla., A private loan company, makes a lot of money for its investors by funding renewable energy projects. | Business Observer
Bob Banks offers one of the oldest excuses in the book for why, after a successful career in real estate investing, he continues to tap into the business world at 74. “I failed miserably at retirement,” he says. But Banks, CEO of Belleair Bluffs-based Seminole Financial Services, is hugely successful in an unusual niche: reshaping …
Crypto lending platform is about to launch
Alternative loansSavings and investment Lendingblock co-founder Steve Swain talks to AltFi about his plans for the exchange. Lendingblock co-founder Steve Swain (pictured) talks to AltFi about his plans for the exchange. Many of the hottest companies in the blockchain and cryptocurrency world are ‘choice and shovel’ companies – those that are concerned with supporting the …
Blankfein talks about Goldman Sachs’ consumer credit business
A broken boiler; a broken wing; one episode of root canal surgery. Whenever life treats you badly, Goldman Sachs will be there. Lloyd Blankfein, chief executive officer of the Bank of Wall Street, took to CNBC on Monday night to talk about Marcus, the consumer lending business the bank launched with fanfare last October. Asked …
This P2P loan platform plans to disburse a loan of Rs 100 cr in a year
Rupaiya Exchange, a P2P lending platform, was launched a year ago with the aim of facilitating the shared economy and lending in India. Kumar, 32, was looking to buy a used two-wheeler. Although he had many options, he was short of Rs 20,000. So he resorted to the one thing he was sure he could …
Kiva founder discusses his new for-profit mobile lending business
Matt Flannery In 2005, American Matt Flannery started Kiva, a non-profit organization that allows people to lend money via the Internet to low-income / underserved entrepreneurs and students around the world. By June 2014, the platform had reached 1.3 million small businesses who received nearly $ 600 million in loans. Last year, Flannery resigned as …
Loan firm Earnest raises $ 275 million as FinTech stays in the spotlight – TechCrunch
With massive equity and debt financing of $ 275 million, the next-gen loan company Serious now has the firepower and strategic partners to become a more complete financial services company. The lending segment of the financial services industry has been one of the areas that has generated the most interest from venture capitalists with mature …
General Electric to sell commercial lending business in Australia
General Electric Co. has agreed to sell its Australian commercial lending business to Sankaty Advisors, the global credit arm of Bain Capital, dismantling another key part of GE Capital in Asia. The operation, which will be financed by Deutsche Bank, is valued at around A $ 1.9 billion ($ 1.34 billion) including debt, according to …
SoFi closes on $ 80 million to expand lending business – TechCrunch
Confirming our previous report, peer-to-peer lender Social Finance said it closed $ 80 million in new financing as it looked to expand its lending operations to mortgages and personal loans. The new round was led by the hedge fund Discovery capital management and included engagements from Wicklow Capital and billionaire investor Peter Thiel – who …
UK peer-to-peer lending platform’s fundraising circle raises $ 37 million, targets US SMEs in merger with Endurance lending network – TechCrunch
Small businesses have been called the lifeblood of our economy, and today a financial services startup has secured significant funding to help it run better. Funding Circle, a UK-based peer-to-peer lending platform that allows individuals and institutions to lend money to small businesses, has secured $ 37 million in funding. At the same time, it …
Growth of the Lending Club’s peer-to-peer lending activities
John Shinal, USA Special TODAY | USA TODAY SAN FRANCISCO – In the brief history of the Internet, the global network has yet to meet a large retail industry from which it cannot extract much value. Think about how we all bought music, books, movies, fashion, and travel services. Today, these industries provide a large …