#Lending #Club might be through the woods, thanks to #banks. Banks made up a “#record” 40% of the lender’s almost $ 2 billion originations for the quarter, up from 31% last quarter, according to Lending Club CEO Scott Sanborn. Sanborn said on the company&8217;s earnings call yesterday: Banks continued to ramp their purchasing as a major component […]
Bank Innovation
#Lending #Club may be back on track with #banks, but not soon enough to help its fourth quarter results. 2016 was a tumultuous year for the online lender. The company set high goals for the fourth quarter, including its determination to generate $ 2 billion in loans. The lender’s very narrow miss ofRead More
Bank Innovation
Tech industry, aiming to solve people’s problem with the help of #technology is a booming industry, and many entrepreneurs as well as the venture investors seek to grow them into “unicorns” – the term that applies for #companies that worth from 1 billion US dollars.
Following the Fintech Landscape report that tracks over 1,200 #Fintech companies around the world, VBProfiles also released an in-depth report about The Unicorn Club which, according to their definition, consists of tech companies that were created less than 25 years ago and currently #valued at $ 1B and #above.
Source: VB Profiles.
In the report, VBProfiles takes a look at 245 companies on a global scale with total $ 175 billion in funding and $ 1,278 billion valuation, spanning across 3 main spaces including Industries, Enterprises and Consumers.
A detailed report can be found here.
The post The Unicorn Club – Current Companies Valued At $ 1b And Above appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
When #Lending #Club did its IPO in December 2014 I declared it as the Netscape moment for #Fintech (when it became conventional wisdom that this was going to change the world). I could be accused of contributing to the Fintech #hype, which became intense in 2015 with investors flooding intoRead More
Bank Innovation
Scandals aside, #Lending #Club has been doing well in the area that mattered — borrowers were paying back their loans. But a new report from the Wall Street Journal indicates that chargeoff rates at Lending Club are up 38% since 2013. This is troubling because credit card default rates decreased over theRead More
Bank Innovation
#Lending #Club has had a busy seven weeks, following the scandalous exit of its CEO. After the announcement of its new CEO Scott Sanborn – and the layoff of 179 employees – this morning, Lending Club held an annual Shareholders Meeting, where executives detailed the roadmap to #rebuilding volume to its previousRead More
Bank Innovation
#Lending #Club has chosen a new CEO to help guide them out of a lackluster 2016 fiscal year thus far.
FinTech – Finance Magnates | Financial and business news
Alternative lenders are looking for, well, alternatives to survive tough times. Matt Harris of Bain Capital Ventures commented to Bank Innovation last Friday that alternative lenders might need to give up equity or make other concessions in order to secure funding. He was proven correct just days later when #ProsperRead More
Bank Innovation
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