Feb 15th 2016 News Digest Lending Times

What is hot an Finovate Europe.
$4 trillion consumer credit market in the US.
Is more pessimism in LC stock warranted ?


Feb 14th 2016
Title Description Interest level Publication
LendingClub: Bad Omens, Missteps And A Fiasco Underperforming credit risk model that caused massive portfolio selloff by Santander USA. Shifting capital source from institutional capital to retail investors to hedge recession risk. Setting expectations for further price hike and slash technology and G&A spend. A Seeking Alpha
Short-Term Lines of Credit: What You Need to Know Kabbage vs Ondeck A Fundera
Peer-to-peer platforms race to obtain authorisation before Isa season With little more than seven weeks until the start of the Isa season, the UK’s three biggest lending platforms say they have not yet been granted their status as a fully regulated authority by the Financial Conduct Authority (FCA) despite submitting proposals in October 2015. A Financial Times
Tread carefully in new-fangled peer-to-peer Isas Old news about p2p ISA in the UK : Peer-to-peer investors will be able to earn returns of up to 6% on £15,240 from April using RateSetter’s newly announced peer-to-peer B Money Week
Norwest Venture Partners X L P Decreased Stake in Lendingclub (NYSE:LC) by $110.00 Million as Shares Declined Norwest Venture Partners X L P decreased its stake in Lendingclub (NYSE:LC) by 35.94% based on its latest Q4 2015 regulatory filing with the SEC. Norwest Venture Partners X L P sold 10.00M shares as the company’s stock declined 16.03% while stock markets rallied. A Wall Street . ORG
LendingClub Stock: Cheap, And Likely Getting Cheaper LendingClub reported solid Q4 earnings and guided up for 2016. Fears over the impact to the online lending marketplace in the next recession appear misplaced. The stock is cheap, but likely gets cheaper. A Seeking Alpha
Sands Capital Management Llc Increased Lendingclub Corp (NYSE:LC) by $42.71 Million as Shares Declined Sands Capital Management Llc increased its stake in Lendingclub Corp (NYSE:LC) by 9.67% based on its latest Q4 2015 regulatory filing with the SEC. B Wall Street . ORG
P2P Lender Harmoney Nears Launch of Australia Expansion Harmoney entering AUS from NZ. AUS is 5x bigger. NZ has p2p regulation, AUS has not. AUS has more competition. In AUS it will be marketplace, not p2p. Harmoney has cash on hand $30m with $8.8m raise from P2P Global Investments and Stone Ridge Ventures A Crowdfund Insider
FinTech tools & Trends at Finovate Europe 2016 Biggest Fintech conference. Not much crowdfunding. Trends : Robo-advisors, Credit risk and fraud protection, payments made mobile, customer interface, transaction ID, social trading and investing. AAA Crowdfund Insider
Autonomous on Online Lending: Banks Left the Door Wide Open & Digital Lenders Walked Right In “Digital Lending” estimates that online lending has an addressable market in the US and Europe of $2 trillion dollars. According to Autonomous’ tally, the number add up like this in the US; Consumer Credit, including; student loans, auto, credit cards and Heloc’s totals $4 trillion Small business lending registers $310 billion (loans under $1 million) with an additional demand of $100 billion in the waiting In Europe the numbers are smaller but still quite relevant; Consumer credit at about $1 trillion (UK $372 billion & the continent at $760 billion) SME lending totals $220 billion (UK $51 billion & the continent at $170 billion) AAA Crowdfund Insider


Author : George Popescu


About the author

George Popescu

Serial entrepreneur.

George sold and exited his most successful company, Boston Technologies (BT) group, in 2014. BT was a technology, market maker, high-frequency trading and inter-broker broker-dealer in the FX Spot, precious metals and CFDs space company. George was the Founder and CEO and he boot-strapped from $0 to a $20+ million in revenue without any equity investment. BT has been #1 fastest growing company in Boston in 2011 according to the Boston Business Journal and the only company being in top 10 fastest in 2012-13 as it was #5 in 2012. BT has been on the Inc. 500/5000 list of fastest growing companies in the US for 4 years in a row ( #143, #373, #897 and #1270). After the company sale in July 2014 until February 2015 George was Head-of-Strategy for Currency Mountain ( ), a USD 100 million+ holding company focused on retail and medium institutional currencies, precious metals, stocks, fixed income and commodities businesses.

• Over the last 10 years, George founded 10 companies in online lending, craft beer brewery, exotic sports car rental space, hedge funds, peer-reviewed scientific journal ( Journal of Cellular and Molecular medicine…) and more. George advised 30+ early stage start-ups in different fields. George was also a mentor at MIT’s Venture Mentoring Services and Techstar Fintech in NY.

• Previously George obtained 3 Master's Degrees: a Master's of Science from MIT working on 3D printing, a Master’s in Electrical Engineering and Computer Science from Supelec, France and a Master's in Nanosciences from Paris XI University. Previously he worked as a visiting scientist at MIT in Bio-engineering for 2 years. George had 3 undergrad majors: Maths, Physics and Chemistry. His scientific career led to about 10 publications and patents.

• On the business side, Boston Business Journal has named me in the top 40 under 40 in 2012 in recognition of his business achievements.

• George is originally from Romania and grew up in Paris, France.

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