Feb 16th 2016 News Digest Lending News

Moody’s downgrades CHAI ( Citi / Prosper ) securitizations.
Prosper raises rates.
Lending Club celebrates a great 2015 year.
Top 5 UK p2p platforms by market share : Funding Circle, Zopa, RateSetter, Market Invoice, LendInvest
Chinese government launches website to track p2p lenders.

Feb 16th 2016
Title Description Interest level Publication
Prosper-Linked Bonds Sold Last Year Face Moody's Rate Cut “Charge-offs have been coming in at a higher rate than expected, very simply,” Amy Tobey, a senior credit officer at Moody’s, said by phone Friday AAA Bloomberg
Prosper Raises Rates on Loans Prosper raises loan rates by 0.2%-1.3% with higher number for higher risk loans. AAA Crowdfund Insider
Lending Club celebrates 2015 results Loan originations of $2.58 billion in 2015 were an 82 percent increase over 2014’s $1.41 billion. Since being founded in 2006 Lending Club has facilitated more than $16 billion in loans. Fourth quarter operating revenue nearly doubled in 2015 to $134.5 million from $69.6 million in 2014. Adjusted EBITDA of $24.6 million in Q4 was more than triple 4Q15’s $7.9 million. Average investor return was greater than seven percent. AAA Bankless Times
Sneak peek into the future of banking: The tech part of FinTech movement General discussion about tech in Fin Tech AAA Jax Center
Lending Club Is ‘Transforming Banking,’ But Banks Fund 25% of Its Loans SoFi CEO Mike Cagney speaks about replacing banks. To be sure, considerable headwinds exist. Customer acquisition costs continue to climb, and marketing expenses doubled to $53.5 million in 2015. Rising interest rates will also pose challenges. But overall, Lending Club has shown it can make money. AAA Bank Innovation
Mike Lobanov: “There will be no boundaries on P2P lenders to conquer the mortgage market” Peer to peer (marketplace) lending is poised to supplant all types of debt markets. In the UK, LendInvest wants to become the dominant provider of mortgages in the UK and, in regards to commercial lending, they have gone quite far in accomplishing this objective. Christian FaesLendInvest founder and CEO Christian Faes believes that a bricks and mortar operation may be in its future. "Where money is the commodity, whoever offers a borrower a cheaper and smoother process via their platform will come to dominate the market. " AAA Crowdfund Insider
Interview: Commuterclub Pitches to Raise 650K from the Crowd Commuter Club offers a loan that covers the annual public transportation cost and can deliver the savings of an annual, in a far more convenient and attractive package as a monthly payment plan A p2p Banking
Funding Societies to provide alternative financing to SMEs in SEA 2016 is expected to be a challenging year for small and medium-sized enterprises (SMEs) in Southeast Asia, especially with the growing uncertainty over the global economy. Considering SME lending in SE Asia as p2p and marketplace lending opportunity. B MIS Asia
P2P Lender Wellesley & Co. Appoints New Managing Director to Boost Retail Investor Inflow Wellesley & Co, a peer to peer lending platform, has appointed Nick McAuliffe as Managing Director. McAuliffe was previously MD of consumer lending and COO at Shawbrook, a retail and commercial bank. Shawbrook did an IPO last year and McAuliffe was part of the team that managed the offer. B Crowdfund Insider
Lending Review Top 5 UK p2p platforms by market share : Funding Circle, Zopa, RateSetter, Market Invoice, LendInvest AAA Alt Fi Investor
China Authorities Launch Website to Drive Out Dodgy Platforms The Chinese Ministry of Public Security (MPS) is reported to be about to launch a website that allows investors to report to the authorities the name of dodgy peer-to-peer platforms, according to China news AAA Alt Fi Investor
P2P trusts: Time to be wary or snap up opportunities? High profile fund managers including Neil Woodford, Invesco Perpetual's Mark Barnett, BMO Asset Management's Gary Potter and Rob Burdett, and AXA Framlington's George Luckraft have all invested in P2P trusts, after new launches have opened up the sector to institutional investors for the first time. A Investment Week
Zoopla Invests in Landbay. Equity Purchase Combined with Strategic Partnership Zoopla (LSE:ZPLA) (a British property website covering the residential property market) has invested an undisclosed sum in peer to peer mortgage lender Landbay. Zoopla also announced partnership/investments in PropertyDetective, FixFlo and Trussle, each representing an important vertical in Zoopla’s strategy to grow its PropTech portfolio. A 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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