dv01 shared they have raised a $15 million Series B round led by Pivot Investment Partners and included George Soros’s...
AliPay launched a free service this week which allowed users to generate a profile based on their shopping history; users who signed up were automatically enrolled in their credit-scoring system called Sesame Credit unless they unchecked a box; this led to an outcry from users and a subsequent apology from the company; Bloomberg shares how this highlights a broader concern over transparency of user data in the country. Source
Lending Club and Prosper have both been around over 10 years now. A lot has changed since both companies were...
According to a New York Federal Reserve report, online mortgage lenders approve loans faster, experience fewer defaults and encourage more refinancing; not surprisingly they are also able to respond to customers as demands shift; the report studied banks and fintechs to better understand the market; lending from fintechs has grown by 30% annually since 2010, from $34 billion to $161 billion, representing 8% of the market. Source
Lend Academy looks at 10 years of data from Lending Club and Prosper; shares data on returns over the time period and where current returns are trending. Source
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