There has been a shift in focus at the large online lending companies over the last year and a half...
OnDeck has made many changes to the business over the last several quarters. With their latest financial results released today, the...
PeerIQ released their third quarter marketplace lending securitization report; total issuance for the quarter was $2.6 billion down from $3 billion in the last quarter; SoFi closed two consumer deals and one student deal; Lending Club and Prosper both issued one deal; College Avenue issued their first ever student loan securitization. Source
OnDeck released their third quarter financial results today; originations were up 14% from the previous quarter to $531 million; firm plans for GAAP profitability in the fourth quarter and hinted at a new bank partnership for 2018. Source
According to data from FT Partners, the third quarter brought the highest financing deal count ever with 412 transactions; banking (including p2p lending) and payments had the most deals in the quarter; transactions of note include Softbank’s $250 million investment in Kabbage and raises by Toast Inc. and Raise Marketplace. Source