- Today’s main news: LendingClub spent $6.4M to relocate two executives. Funding Circle to price IPO between 420-530 pence. Funding Circle to set valuation at $2.4B after IPO. Qatar fund to invest in Lufax. X Financial completes IPO.
- Today’s main analysis: Fintech investors like ‘stodgy’, not ‘sexy’. Prospa has written $750M in loans.
- Today’s thought-provoking articles: How machine learning helps P2P lenders succeed. Investors love Chinese tech stocks. Growth of investor numbers on P2P lending marketplaces.
- Lending Club spent $6.4 million to relocate executives to San Francisco. Hiring executives who must relocate is an investment. A CEO and CFO could potentially earn the company hundreds of billions, or trillions, over the lifetime of the company, or their tenure. LendingClub is obviously banking on just that.
- Fintech investors like stodgy more than sexy. If technology doesn’t improve business efficiency and make the operation more profitable, it doesn’t deserve investors.
- How machine learning helps P2P marketplaces succeed. Without machine learning, some P2P lending firms couldn’t succeed. The technology streamlines critical processes.
- Former SoFi head of venture goes on his own.
- Goldman Sachs close to selling its fintech app.
- Lendio franchising doubles loans funded quarter over quarter.
- LendingTree launches startup innovators program at Lend360.
- iCapital buys Bank of America alternative investment feeder fund operations.
- More Americans with low credit scores are buying homes.
- 2Wheel partners with Affirm on 0% financing.
- 5 traits of digital banking winners.
- Non-prime hispanics are in better financial health than everyone else.
- Why high-profile bank glitches won’t stop.
- Why do state regulators want to limit consumer financial choices?
- The Fed will have a say on key parts of OCC fintech charter.
- White Oak Healthcare Finance refinances credit facility.
- AlphaFlow launches New York office, hires new executives.
- Funding Circle to price IPO between 420-530 pence. We’re expecting big things from this IPO.
- Funding Circle valuation set up to $2.4 billion after IPO.
- Is real estate crowdfunding for you?
- Qatar fund to invest in Lufax.
- X Financial completes IPO.
- X Financial says they are one of the strongest fintechs in China.
- Investors love Chinese tech stocks. It’s easy to see why. The good ones are really good.
- Banks give online lenders a second chance.
- Online lenders get a new lifeline.
- China Rapid Finance to participate in DBS Fintech Corporate Day.
- Australia: Prospa has written $750 million in loans.
- International: Growth of P2P lending investor numbers.
- Israel: OurCrowd on track to top $1 billion USD in crowdfunding investment.
- India: LenDenClub launches in Hyderabad.
- International: ETHLend launches Aave to spur innovation.
- Dubai: Smart Crowd offers real estate portfolios for as little as $1,000.
- Hungary: INLOCK partners with crypto ATM manufacturer.
- United States
- Some Companies Spend Plenty to Lure Executives Willing to Relocate (Wall Street Journal) Rated: AAA
- Fintech investors like ‘stodgy more than sexy’ (Financial Planning) Rated: AAA
- How Does Machine Learning Help Peer to Peer Online Marketplaces Succeed? (Tech Pluto) Rated: AAA
- SoFi’s Former Head Of Venture Strikes Out On His Own (Benzinga) Rated: A
- Goldman Sachs nears deal to sell its fintech app – WSJ (Reuters) Rated: A
- Lendio Franchising Growth Soars, Doubling Amount of Loans Funded Quarter Over Quarter Since Inception (Lendio) Rated: A
- LendingTree Announces Startup Innovators Program at LEND360 (PR Newswire) Rated: A
- iCapital Buys Bank of America Alt Feeder Fund Ops (Wealth Management) Rated: A
- More Americans With Low Credit Scores Buying Homes (Laredo Morning Times) Rated: A
- 2Wheel Partners With Affirm to Offer 0% Financing (Motorcycle & Powersports News) Rated: A
- 5 Surprising Traits of Digital Banking Winners (Financial Brand) Rated: A
- New Research Indicates Non-Prime Hispanics Have a Leg up on Financial Health (Market Watch) Rated: A
- Why those high-profile bank glitches just won’t stop (American Banker) Rated: A
- Why do state regulators want to limit consumer choice? (American Banker) Rated: A
- Fed will have the say on key parts of OCC’s fintech charter (American Banker) Rated: A
- White Oak Healthcare Finance Refinances Texas SNFs for Granite Investment Group (Digital Journal) Rated: B
- AlphaFlow Continues Expansion with Launch of New York Office, Hiring of Fintech Executives Stephan Leccese and John Woodruff (PR Newswire) Rated: B
- United Kingdom
- Funding Circle to price 71.4 mln IPO shares between 420-530 pence (Nasdaq) Rated: AAA
- Peer-to-peer lender Funding Circle to be valued up to $ 2.4 billion after IPO (CNBC) Rated: AAA
- Is real estate crowdfunding the investment option for you? (Born2Invest) Rated: A
- China’s Online Lender Lufax Attracts Potential Investment From Qatar Fund (Gooruf) Rated: AAA
- Fintech / Peer to Peer Lender X Financial Trades on NYSE (Crowdfund Insider) Rated: AAA
- X Financial on IPO: We Have Built One of the Strongest Fintech Businesses in China (Crowdfund Insider) Rated: A
- Investors Love Chinese Tech Stocks (Bloomberg) Rated: AAA
- Banks give China’s Web lenders a second life (The Business Times) Rated: A
- Lending hand (Breaking Views) Rated: A
- China Rapid Finance to Participate in DBS Fintech Corporate Day (Acrofan) Rated: B
- Growth of Investor Numbers on P2P Lending Marketplaces (P2P Banking) Rated: AAA
- ETHLend Blockchain Crypto Lending Launches New Tech Firm Aave To Induce Innovation (Bitcoin Exchange Guide) Rated: A
- Fintech Prospa has now written $ 750 million in loans (Business Insider) Rated: AAA
- OurCrowd Still on Track to Top USD $ 1 Billion in Investment Crowdfunding (Crowdfund Insider) Rated: AAA
- Build a real estate portfolio starting with as little as $ 1000 (AME Info) Rated: A
- P2P operations launched in Hyderabad (Telangana Today) Rated: AAA
- European Union
- INLOCK Signs MoU with Institutional Lending Provider – Partners with Major CEE Crypto ATM Manufacturer to Test Its Platform (Bitcoin News) Rated: B
Some Companies Spend Plenty to Lure Executives Willing to Relocate (Wall Street Journal) Rated: AAA
Some businesses have gone so far as to shell out millions to move key players from miles away. LendingClub Corp. LC -2.63% spent nearly $6.4 million to bring two new top officers and their families to the San Francisco Bay Area in 2017, according to an analysis of data from company proxies by research firm Equilar Inc. That sum largely reflects $3 million in relocation bonuses for Steve Allocca, the new president, and Thomas Casey, LendingClub’s chief financial officer. Both men moved from less-costly cities in Texas.
Fintech investors like ‘stodgy more than sexy’ (Financial Planning) Rated: AAA
A good chunk of the money being invested in wealth management and banking technology is going toward funding artificial intelligence-driven tools.
But forget the popular concept of conversational, British-voiced computers, chatbots or even cute robot assistants greeting customers at branches; the applications that investors want in on are focused on improving operational efficiency.
The industry’s current methods of handling compliance issues, back-office processing, clearing and settlements, he says, are ripe for reinvention.
How Does Machine Learning Help Peer to Peer Online Marketplaces Succeed? (Tech Pluto) Rated: AAA
Machine learning technology brings a real ROI to peer to peer marketplace owners. Airbnb, a company known for their personalized approach to each customer has seen a significant growth in the number of bookings after they started using machine learning. Other popular P2P marketplaces such as Etsy, Uber, Lending Club also apply intelligent algorithms to increase their conversion rates and acquire a competitive advantage.
Machine learning helps leading marketplaces and companies that provide AI consulting services develop features that bring tangible value to business and consumers. So how exactly do P2P marketplace companies use this cutting-edge technology? Let’s find out.
Predicting which products a user will like is a widely adopted use case for machine learning. A variety of digital products today have recommender systems powered by this technology. In the past product recommendation systems were based on hard-coded rules. Those rules determined what item to show to a user based on some predefined scenarios. For example, if a user buys a fancy red dress, she’s likely to also buy shoes that match this dress.
SoFi’s Former Head Of Venture Strikes Out On His Own (Benzinga) Rated: A
For this installment, Benzinga interviewed an intriguing fintech venture capitalist: Logan Allin, general partner at Fin Venture Capital and former head of venture at SoFi.
Allin’s career has been largely spent “in and around” financial services, he said, including stints at SoFi, City National Bank and Invesco Ltd. IVZ. He launched Fin Venture Capital in April with a focus on the global fintech sector, greenfield areas and B2B and B2B2C players in particular.
BZ: Fintech funding rounds are getting larger, some consolidation is occurring and the space in general is maturing — is there still room for small startups to have a major impact? What verticals are ripe for disruption?
According to Pitchbook’s data, the U.S. funding environment is skewed increasingly to growth and late stage startups and is on pace to surpass $100 billion in deal value for the first time since the dot-com era.
Indeed, there was $57.5 billion of VC invested in U.S. companies through the first half of the year, and the second quarter of 2018 is higher than six of the past 10 full-year totals. Despite the volume, the deal count has remained stable due to later-stage entry points and larger round sizes, and as a result, deployment is at a slower pace than seen in 2013-2015.
You’re seeing a move toward larger fund sizes with the same investment period as they’ve always had, five years, which leads to larger check requirements per deal and thus a move downstream to growth and late-stage rounds where the valuation math and round sizes align.
Goldman Sachs nears deal to sell its fintech app – WSJ (Reuters) Rated: A
Goldman Sachs is in advanced talks with several financial companies to spin off ‘Simon’, its three-year-old app that sells financial products to retail investors, the Wall Street Journal reported on.wsj.com/2OzaWmf on Wednesday, citing people familiar with the matter.
JPMorgan Chase, Barclays, HSBC Holdings , Credit Suisse, Wells Fargo and insurer Prudential Financial have expressed interest for a stake in the business, the report said.
The deal, which would value the app at around $100 million, is likely to be finalised in the coming weeks.
Lendio Franchising Growth Soars, Doubling Amount of Loans Funded Quarter Over Quarter Since Inception (Lendio) Rated: A
Lendio Franchising, the first-of-its-kind marketplace lending franchise program, today announced record growth across all areas. Launched in March 2017, the program has helped facilitate $16 million in financing to over 500 small businesses across the U.S. Lendio Franchising reports a 111 percent average increase in loans funded quarter over quarter since inception. Lendio was recognized in early 2018 as the #1 brand in the Business Financial Services category on Entrepreneur magazine’s Franchise 500 list.
LendingTree Announces Startup Innovators Program at LEND360 (PR Newswire) Rated: A
LendingTree®, the nation’s leading online loan marketplace, today announced it will sponsor a $10,000 award to be given at LEND360 to the fintech startup with the most cutting-edge solutions propelling the online lending ecosystem forward.
As the desire to enter the fintech space continues to heat up, LEND360’s Startup Innovators Program will highlight startup organizations’ crucial part of the fintech ecosystem, bringing new and innovative thinking to the industry.
LEND360 will be held October 8-10, 2018 at the Sheraton Grand Chicago.
iCapital Buys Bank of America Alt Feeder Fund Ops (Wealth Management) Rated: A
Alternative investing platform iCapital Network announced it has entered into a definitive agreement with Bank of America to acquire the bank’s alternative investment feeder fund operations. iCapital expects the volume on its platform to more than quadruple as a result, growing from $6 billion in invested capital across 14,000 underlying accounts to $25 billion across nearly 70,000 accounts.
Bank of America’s Merrill Lynch and U.S. Trust account holders and advisors will continue to use their existing interfaces and their client relationships, but the inner workings of the system will be improved, said Lawrence Calcano, CEO of iCapital.
More Americans With Low Credit Scores Buying Homes (Laredo Morning Times) Rated: A
If you have a low credit score and want to buy a home, your odds of getting a loan have improved. A study by the Fair Isaac Corporation (FICO) shows that credit scores for new mortgage originations have been dropping, suggesting that lenders are slowly relaxing the tight credit policies imposed after the housing crisis.
According to the study, new mortgage loans with credit scores less than 700 increased from 21.9% of all mortgage loans in 2009 to 29.7% in 2017. These include scores in the subprime market that can reach down into the 400s. (While the typical lower credit score limit is 620 for conforming loans and 500 for FHA loans, loans may be granted at even lower credit scores with extenuating circumstances.)
The shift in average credit scores is driven by FHA loans – as expected by the lower acceptance criteria for FHA loans. The latest Origination Insight Report from Ellie Mae shows that only 16.7% of conventional mortgage loan originations in July 2018 were associated with FICO scores less than 700.For FHA loans, over 65% of FHA loans went to borrowers with scores below 700.
2Wheel Partners With Affirm to Offer 0% Financing (Motorcycle & Powersports News) Rated: A
Affirm Inc., a financial technology company, provides transparent alternatives to traditional credit. Customers can select the Affirm payment option at checkout and quickly and easily receive real-time approval of their loan amount. The payment terms are clearly stated with no hidden fees or compounding interest.
5 Surprising Traits of Digital Banking Winners (Financial Brand) Rated: A
Ever since JP Morgan declared itself a technology company that provides financial services — not the other way around — analysts and investors have been scrambling to discern which banking companies are doing tech well, and which are not. They know the institutions that harness the power of artificial intelligence, machine learning and big data, and more importantly, the applied business insights these technologies can generate, will be the banks that will be the winners in the long run.
“Long term I think this will determine the split between winners and losers,” one investor told the Financial Times in a story on AI and banking earlier this year.
New Research Indicates Non-Prime Hispanics Have a Leg up on Financial Health (Market Watch) Rated: A
When it comes to personal finances, Hispanics in the U.S. are more stable and optimistic than other groups studied. A newly released study from Elevate’s Center for the New Middle Class (CNMC) found that non-prime Hispanics – or those with credit scores below 700 – experience higher levels of employment and less volatile monthly income. When compared to the broader non-prime community, non-prime Hispanics in the U.S. are:
- 65% more likely to plan for major expenses
- 86% more likely to feel financially stable
- 38% more likely to save money each month
- 20% less likely to have had a vacation expense in the last 12 months
- 23% less likely to spend on routine medical expenses
- 50% more likely to be able to cover a $1200 unexpected expense
- 3x more likely to regularly pay using a smartphone
- 20% less likely to have a credit card
- 25% less likely to have a personal retirement account
- 2x more likely to regularly give money to a child or grandchild
- 40% more likely to be employed
Why those high-profile bank glitches just won’t stop (American Banker) Rated: A
The glitch that left SunTrust customers without access to mobile and online banking for two days is just the latest digital snafu to afflict the banking industry. Upgrades by banks or their vendors that went haywire have resulted in multiple outages this past year.
So it begs the question: If there’s such potential for an upgrade to go wrong, why aren’t banks more prepared for the eventuality, instead of scrambling to get service back up and running?
Industry experts bear some bad news about the state of technology in banking: Banks can’t really be proactive enough to prevent the problems.
Why do state regulators want to limit consumer choice? (American Banker) Rated: A
The decision by the Office of the Comptroller of the Currency to begin accepting applications for special purpose national bank charters from fintech companies promotes innovation, gives consumers and businesses greater choice and creates economic growth and opportunity.
It is also good for America’s dual banking system, which the president of Conference of State Bank Supervisors and the superintendent of the New York Department of Financial Services ignore in their recent articles and statements.
Fed will have the say on key parts of OCC’s fintech charter (American Banker) Rated: A
The Federal Reserve is under increasing pressure to provide clarity on whether nonbank fintech firms that receive a special federal charter will have direct access to central bank lending and to the U.S. payment systems.
The Office of the Comptroller of the Currency confirmed in July that it would accept applications from fintech firms for a “special-purpose” national bank charter, although the new license has been legally challenged by state regulators.
But many experts say the OCC’s charter would lose value if the Fed did not allow direct entry to fintech firms. Those firms now, for example, can access the payments system only through bank partners.
White Oak Healthcare Finance Refinances Texas SNFs for Granite Investment Group (Digital Journal) Rated: B
White Oak Healthcare Finance, LLC (“White Oak”), today announced it acted as sole lender and administrative agent on the funding of a $33.2 million senior credit facility for Granite Investment Group (“Granite”). The funds were used to refinance a portfolio of four skilled nursing facilities in Texas.
Granite Investment Group is a privately held, real estate investment firm focused on multi-family, senior housing, and post-acute care.
AlphaFlow Continues Expansion with Launch of New York Office, Hiring of Fintech Executives Stephan Leccese and John Woodruff (PR Newswire) Rated: B
AlphaFlow, the first automated alternative investment platform for real estate, announced today the opening of a new office in New York City. The office launch and expansion operations will be helmed by recently hired fintech executive Stephan Leccese, who joins the firm as Vice President of Partnerships & Servicing. John Woodruff, a former credit fund senior analyst, will be joining Stephan in New York, serving as Vice President of Investments.
Funding Circle to price 71.4 mln IPO shares between 420-530 pence (Nasdaq) Rated: AAA
British peer-to-peer lender Funding Circle plans to sell up to 71.4 million new shares in its initial public offering for between 420 pence and 530 pence per share.
Funding Circle, which expects to list in October with a valuation of more than 1.5 billion pounds ($1.92 billion), said it plans to raise gross proceeds of about 300 million pounds.
Peer-to-peer lending platform Funding Circle announced the pricing range for its initial public offering (IPO) on Wednesday that could value the company up to around £1.8 billion ($2.4 billion).
The British fintech firm said the price range of the offer has been set at 420 pence to 530 pence per share. The flotation will comprise a maximum of 71.4 million new shares and a secondary component to be determined.
After the completion of the IPO, the issued share capital of the company is expected to comprise between 329.7 million and 345 million shares.
Is real estate crowdfunding the investment option for you? (Born2Invest) Rated: A
Equity crowdfunding has been a great alternative investment for many, but there are other principles that branched out from it. Some investors direct their funds not only on startups that offer unique products or services as others become virtual landlords through property crowdfunding.
Platforms like LendInvest, Landbay and Lendy have risen to make real estate investing more interesting because of higher returns. Some sources suggest that peer-to-peer lending (P2P) schemes like crowdfunding in real estate allow for returns in excess of 5-6 percent compared to traditional real estate investment trusts (REITs).
There are three ways to get into real estate crowdfunding: P2P, debt crowdfunding and virtual buy-to-let.
China’s Online Lender Lufax Attracts Potential Investment From Qatar Fund (Gooruf) Rated: AAA
China’s online lender Shanghai Lujiazui International Financial Asset Exchange Co. (Lufax) has attracted a potential investment from sovereign wealth fund Qatar Investment Authority (QIA).
QIA has been negotiating the probable purchase of a minority stake in Lufax with an estimated price range of about US$500 million to US$1 billion, said Bloomberg citing the source.
The company has been aiming to file for an initial public offering in Hong Kong since 2017, but only to witness its flotation on ice because of Beijing’s probes into online lenders.
Fintech / Peer to Peer Lender X Financial Trades on NYSE (Crowdfund Insider) Rated: AAA
Chinese peer to peer lending platform X Financial (NYSE: XYF) completed its initial public offering (IPO) today trading shares on the New York Stock Exchange. Deutsche Bank Securities Inc. and Morgan Stanley & Co. were joint book runners on the IPO.
The IPO saw the Class A ordinary shares priced at $9.50. The offering was for 11 million American Depository Shares (ADSs) thus representing a raise of about $104.5 million. Shares initially traded much higher jumping to over $20/share at one point but are now currently hovering around $13/share.
The underwriters have been granted an option to purchase up to 1,650,000 additional ADSs at the IPO price less the underwriting discount.
X Financial on IPO: We Have Built One of the Strongest Fintech Businesses in China (Crowdfund Insider) Rated: A
Earlier today, China based X Financial (NYSE:FXE) traded on the New York Stock Exchange (NYSE) in its initial public offering raising approximately $104.5 million as 11 million shares were floated at $9.50/share. The shares quickly jumped higher in early trading and eventually closed about 25% higher than the offer price. X Financial, a peer to peer lender and Fintech platform, is part of a growing group of Chinese firms deciding to list their shares on US exchanges. In fact, this was the 9th Chinese company to list on the NYSE this year.
X Financial reports experiencing dramatic growth in the past few years. Top line revenue was approximately USD $270 million for all of 2017. As of the first six months of 2018, the company had already topped this number (USD $279.3) as it appears to be on track to double the year prior total.
Investors Love Chinese Tech Stocks (Bloomberg) Rated: AAA
Peer-to-peer online lender X Financial soared on its first day of New York trading, adding to a string of frenzied U.S. debuts by Chinese technology companies.
Banks give China’s Web lenders a second life (The Business Times) Rated: A
China’s online lenders have found an unlikely lifeline. Investors are fleeing the country’s US$200 billion peer-to-peer (P2P) lending sector as regulators crack down. The funding squeeze has pushed many companies to team up with traditional banks that they once sought to disrupt.
Beijing is reining in the country’s non-bank lending sector. Strict rules, such as caps on loan balances for sites matching small borrowers with individual investors, have shut down hundreds of unruly upstarts. Regulators delayed a June deadline for companies to apply for licences, putting larger groups in legal limbo. New York-listed Yirendai has seen its market value more than halve to US$1 billion since the start of the year.
The stakes are huge. Chinese consumer finance – which includes credit card loans, e-commerce credit, and unsecured personal loans – is on track to top 11 trillion yuan (S$2.2 trillion) by 2020, up from four trillion yuan in 2015, according to Oliver Wyman. But banks prefer to lend to customers with credit histories, which much of the population lacks. They often spurn private corporate borrowers for similar reasons. That has opened the door for P2P operators as well as Web giants like Ant Financial.
Lending hand (Breaking Views) Rated: A
China’s online lenders have found an unlikely lifeline. Investors are fleeing the country’s $200 billion peer-to-peer (P2P) lending sector as regulators crack down. The funding squeeze has pushed many companies to team up with traditional banks that they once sought to disrupt.
Beijing is reining in the country’s non-bank lending sector. Strict rules, such as caps on loan balances for sites matching small borrowers with individual investors, have shut down hundreds of unruly upstarts. Regulators delayed a June deadline for companies to apply for licenses, putting larger groups in legal limbo. New York-listed Yirendai has seen its market value more than halve to $1 billion since the start of the year.
The stakes are huge. Chinese consumer finance – which includes credit card loans, e-commerce credit, and unsecured personal loans – is on track to top 11 trillion yuan ($1.6 trillion) by 2020, up from 4 trillion yuan in 2015, according to Oliver Wyman. But banks prefer to lend to customers with credit histories, which much of the population lacks. They often spurn private corporate borrowers for similar reasons. That has opened the door for P2P operators as well as web giants like Ant Financial.
China Rapid Finance to Participate in DBS Fintech Corporate Day (Acrofan) Rated: B
China Rapid Finance (NYSE: XRF), a leading online consumer finance platform in China, today announced that its Chief Executive Officer Zane Wang will participate in the DBS Fintech Corporate Day, to be held at the Fullerton Hotel in Singapore on Thursday, September 27, 2018.
The Company will also host investor meetings throughout the day. Attendance at the conference is by invitation only. Interested investors should contact your DBS sales representative to secure a meeting time.
Growth of Investor Numbers on P2P Lending Marketplaces (P2P Banking) Rated: AAA
The disadvantage of showing indexed numbers for growth is that it gives smaller, younger an advantage as their percentage increase of investor base is likely still higher because they come from smaller absolut numbers. An example for this effect is Peerberry where percentage growth of investors is rapid, but the absolute number as of Sep, 1st has reached only 2468 investors as it is a very young marketplace.
ETHLend Blockchain Crypto Lending Launches New Tech Firm Aave To Induce Innovation (Bitcoin Exchange Guide) Rated: A
Decentralized, peer-to-peer (P2P) financial marketplace, ETHLend has recently revealed the launch of a new tech firm dubbed, Aave. The reason for creating Aave is to induce consumers to come up with innovative ways to expand on “evolving and imaginative technology”. Simply put, the team is working towards bridging the gap centralized players like PayPal and Coinbase have left behind.
Aave will serve as the parent company for ETHLend and the team will remain the same. In other words, the CEO for Aave will be that of ETHLend, Stani Kulechov, Jordan Lazaro will serve as COO, Nolvia Serrano is the CMO, Mika Soyring is the CFO and Ville Valkonen is the CCO.
Fintech Prospa has now written $ 750 million in loans (Business Insider) Rated: AAA
Fintech Prospa, a lender to small business which in June postponed an ASX-listing after being pinged about unfair loans terms, says it has now written $750 million in loans.
Loans for the year to June were $367 million, a 70% increase on the previous 12 months and 9% higher than prospectus forecasts with strong momentum in the fourth quarter.
For the six months to June 2018, loans hit $211 million, up 16% on prospectus forecasts and up 61% on the previous corresponding period.
OurCrowd Still on Track to Top USD $ 1 Billion in Investment Crowdfunding (Crowdfund Insider) Rated: AAA
In many ways, OurCrowd epitomizes the aspirations of what investment crowdfunding has the potential to deliver for both issuers and investors. By providing access to quality deals to smaller (accredited) investors, OurCrowd has opened up an asset class previously closed off to all but the very fortunate. On OurCrowd, you can find yourself investing alongside some of the biggest names in venture capital – at the exact same terms – an important distinction. It is also important to note that OurCrowd has skin in the game for each offering it lists on the platform – thus interests are aligned: OurCrowd wants the company to succeed and it also very much wants to see a return on its own investment. These qualities make OurCrowd a compelling option for investors that are willing to shoulder an element of portfolio risk that can also drive some outsized returns.
OurCrowd is based in Israel – where many of its investments are made – but its vision is to empower investors globally and fund companies regardless of geographic borders. This is what you want to see in the digitized, internet fueled Fintech age.
Build a real estate portfolio starting with as little as $ 1000 (AME Info) Rated: A
Real estate crowdfunding comes to Dubai in the form of Smart Crowd
In the US, investors are utilizing crowdfunding sites like Realty Mogul, CrowdStreet, and Fundrise to start and/or build their portfolios, Investopedia notes.
Smart Crowd, an innovative new digital real estate investment platform that supports crowd-funding endeavors in the real estate sector, is trying to fill in a similar role in the region.
P2P operations launched in Hyderabad (Telangana Today) Rated: AAA
LenDenClub, a peer-to-peer (P2P) lending platform, launched its operations in Hyderabad. It will also expand to other cities later.
LenDenClub chose Hyderabad as the city is a major hub of the IT industry and houses a large number of young professionals, who are among the largest users of digital lending services in the country. It expects 10 per cent of its loan requests originate from Telangana in the next six months.
It is aiming to disburse loans worth Rs 100 crore in 12 months.
INLOCK Signs MoU with Institutional Lending Provider – Partners with Major CEE Crypto ATM Manufacturer to Test Its Platform (Bitcoin News) Rated: B
INLOCK, a crypto lending platform where licensed lenders can compete for borrowers who want to use their cryptocurrency as collateral for loans, announced today that it has signed a Memorandum of Understanding (MoU) with an institutional lending provider and entered a partnership with one of the Central and Eastern European Countries (CEE) region’s biggest crypto ATM manufacturers to test its Minimum Viable Product (MVP). The company launched the ICO for its ILK token on September 15, the anniversary of the Lehman Brothers collapse.
The CEE region’s crypto ATM manufacturer plans to integrate INLOCK’s services into all of its machines, enabling users to directly take out loans and receive funding in cash within hours. The crypto ATM manufacturer will act as a matching service provider by forwarding customers to INLOCK.