lending

  • Lessons From An Advertising Past Crunch Network

    Lessons From An Advertising Past

    The Lending Club IPO was a watershed moment for marketplace lending. One of the largest U.S. public Internet offerings ever, its success makes crystal clear that peer-to-peer lending is not only here to stay, but is poised to grow enormously. With this stamp of validation behind it, the next question is: What lies ahead for the future of marketplace lending? Read More

  • Vouch Raises $6 Million Series A For Its Social Network For Credit

    Vouch Raises $6 Million Series A For Its Social Network For Credit

    Vouch, a so-called “social network for credit” founded by ex-PayPal and ex-Prosper alumni, now has an additional $6 million in Series A funding to continue to grow its business. While there are a number of alternative lending startups on the market today, Vouch’s differentiating factor is that it leverages a person’s social connections in order to determine their… Read More

  • P2P Lending Site Funding Circle Raises $150M Led By DST At A $1B+ Valuation

    P2P Lending Site Funding Circle Raises $150M Led By DST At A $1B+ Valuation

    Time to make way for another startup juggernaut out of the financial world. Funding Circle — a London-based peer-to-peer platform for small businesses to get loans, and investors to put up money to finance those loans — is today announcing that it has raised $150 million in venture funding, in a round that we have confirmed values the startup at over $1 billion. While… Read More

  • WeFinance Offers A Crowdfunded Alternative To Student Loans And More

    WeFinance Offers A Crowdfunded Alternative To Student Loans And More

    WeFinance, launching today, is the latest startup to use a combination of technology and crowdfunding in order to offer borrowers lower interest rates on loans, while reducing lenders’ risk. The new peer-to-peer lending platform operates something like a Kickstarter for personal loans – largely those in the range of $10,000 to $20,000, and many of which are being used to help… Read More

  • Online Lender Avant Acquires Debt Management Service ReadyForZero

    Online Lender Avant Acquires Debt Management Service ReadyForZero

    Online lending platform Avant has acquired ReadyForZero, a Y Combinator-backed startup that helps consumers better manage their personal debit and credit using online financial software, the companies are announcing this morning. Financial terms are not being disclosed, but Chicago-based Avant had plenty of funds to play around with, having raised $334 million in equity capital, in addition… Read More

  • With Karrot, Kabbage Digs Into Lending Club’s And Prosper’s Consumer Loans Business

    With Karrot, Kabbage Digs Into Lending Club’s And Prosper’s Consumer Loans Business

    Kabbage, the Atlanta-based startup that has raised hundreds of millions of dollars to build and run a money lending platform for small, online businesses, is turning over a new leaf, so to speak: today it is launching a new lending service called Karrot — its first product for consumers, is initially launching in the U.S. only. Karrot has grown (sorry) out of what CEO and co-founder… Read More

  • Chromebook Lending Library Offers Students At 12 U.S. Colleges A Free Laptop To Borrow

    Chromebook Lending Library Offers Students At 12 U.S. Colleges A Free Laptop To Borrow

    Google is teaming up with a dozen college campuses across the U.S. to provide access to free Chromebook notebooks to any student who wants one, in a system that lets them temporarily check out the laptops for late-night cram sessions or just finding the best animal GIFs on Imgur. The Google program features fun-colored café-style installations like the one pictured above, which will tour the… Read More

  • PayPal’s “Bill Me Later” Service Becomes “PayPal Credit,” As Company Expands Credit Products Globally

    PayPal’s “Bill Me Later” Service Becomes “PayPal Credit,” As Company Expands Credit Products Globally

    Touting its increasing focus on credit products for both consumers and small businesses, PayPal today announced it is rebranding its Bill Me Later service as “PayPal Credit,” while that and its PayPal Working Capital business loans service are now destined for international expansions. PayPal Credit is soon being rolled out to the U.K. and Germany, while PayPal Working Capital… Read More

  • How Smart Lending Dumbed Down Crunch Network

    How Smart Lending Dumbed Down

    Between 2008 and 2010, Wonga was doing something mind-bendingly stupid: sending letters from fake law firms to borrowers behind on their loans. It sounds like a bad office prank. They even took the firm names from apparently still current employees — except when you consider that they did it 45,000 times and that it will cost them £2.25 million to give each injured party just £50… Read More