India’s Rentomojo raises $10M from Bain Capital and Lending Club founder

Indian startup Rentomojo -- which lets consumers rent appliances furniture, motorbikes and other urban living essentials -- has closed a $10 million Series B to continue its expansion. The round w

Lending Club founder Renaud Laplanche is back with a new startup and $60 million in funding

Renaud Laplanche had a terrible no good very bad 2016. But the founder and longtime CEO of Lending Club is back with a new lending startup called Upgrade, along with the support of investors who’ve

Lending Club zooms into car refinancings in turnaround effort

Many Americans learned through Lending Club that they can refinance their credit card debt online; now, the lending marketplace is hoping they’ll start refinancing their automotive loans usi

How startups are trying to fix consumer debt

Consumer debt remains one of the biggest challenges with the American economy. The average household has $130,922 in debt, and debt interest payments represent 9 percent of the average household incom

Troubled P2P lender LendingClub names Scott Sanborn CEO, cuts 179 jobs amid lower loan volume

Yet more changes afoot for LendingClub — a peer-to-peer loans marketplace whose stock tanked May after its founder, CEO and chairman Renauld Laplanche resigned amid an accounting scandal. A

Lending Club’s site goes down

[Update: As of 6:40 p.m. PST last night, the site was back up and running, but it appears to be down again this Thursday morning, as of at least 6:10 a.m. PST.] Lending Club’s site has gone do

Lending Robot makes Lending Club investing easy as setting screen brightness

Thanks to Lending Robot, even those who took their finance lessons from Margot Robbie and Anthony Bourdain in “The Big Short” can invest in loans via primary and secondary markets. Users will be

In defense of online lending

The marketplace industry will be just fine. It is uncertainty – rather than a fundamental flaw in the business model – that is the root cause of the sector’s present turmoil. There’s uncertain

The mercurial nature of P2P lending

The meteoric rise of e-lending platforms attracted a lot of interest among investors and entrepreneurs. Lending Club and OnDeck have already become public companies, and their competitors, such as Fun

For online lenders, it’s suddenly touch-and-go

A year ago, privately held online lenders like <a target="_blank" href="https://www.prosper.com">Prosper</a>, <a target="_blank" href="https://www.sofi.com/">SoFi</a> and <a target="_blank" href="htt

Lending Club shares are crashing after its CEO resigns

Lending Club shares are down more than 25% — shaving off hundreds of millions of dollars off the company’s roughly $2.5 billion market cap — after it announced its CEO would resign following

Norwest Raises Third Consecutive $1.2 Billion Fund in Five Years

Norwest Venture Partners, the 55-year-old, Palo Alto, Calif.-based venture firm, has closed its third consecutive $1.2 billion fund. The group, which employs 20 investors altogether, raised the same a

J.P. Morgan, OnDeck And The Future of Alternative Lending

Earlier this month, J.P. Morgan announced a strategic partnership with OnDeck Capital to originate, underwrite, and distribute loans targeted specifically at small businesses. As evidenced by a 28%

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

A Super Angel’s View On Venture Capital In 2015

As the first quarter of 2015 draws to a close, it's clear that the venture capital industry is evolving. Since 2005, thousands of new millionaires have been minted by the IPOs of Alibaba Group, Len

No Traditional Financial Institutions? No Problem

On Lending Club’s February 2015 quarterly earnings call, an analyst asked CEO Renaud Laplanche a simple question: have you considered getting the loans you’re issuing rated? Renaud had a simple an

Fundbox Raises $40 Million To Pay Invoices On Demand

Fundbox, a company that loans businesses money for outstanding invoice payments, has raised $40 million to grow its own business in the trillion-dollar alternative lending market. The Series B roun

Alibaba And Lending Club Launch Financing Program For U.S. Businesses

Alibaba.com and peer-to-peer financing site Lending Club have inked a strategic partnership designed to get more U.S. businesses to buy inventory from the e-commerce giant’s wholesale marketplace. T

New Relic And Hortonworks See Strong Public Debuts

In early trading, New Relic’s shares are up 31 percent in its first day as a public company. Another technology company, Hortonworks, will begin trading this morning as well. Update: Hortonworks

SoFi Closes On $80 Million To Expand Its Lending Business

Confirming our earlier reporting, the peer-to-peer lender Social Finance said it closed on $80 million in fresh funding, as it looks to expand its lending operations to mortgages and personal loans.
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