AvantCredit Raises $75M Series C to Grow Online Lending Platform -
Demand for consumer loans and credit is on the rise, and venture investors are backing a new class of online lenders to meet this demand, disrupt traditional banking and make a windfall.In the most recent deal in this space, AvantCredit Corp. said it has raised $75 million in a Series C round of funding led by Tiger Global Management. The company also attained a $200 million credit facility led by Victory Park Capital.
Congrats to Al Goldstein and the team in Chicago. I’ve gotten to know Al and have a tremendous amount of respect for him. I had the chance to invest in the Series B (and probably should have!) #FOMO
The Unbanked: Offering Small Fees, Banks Cater to Low-Income Customers
Amazon Debuts Wallet App for Rewards and Gift Cards
How Smart Lending Dumbed Down
New York Reveals BitLicense Framework for Bitcoin Businesses -
New York state has released its long-awaited guidance for licensed bitcoin businesses.
While very (overly)? comprehensive, this is Step 1 toward legitimizing Bitcoin.
Peer-to-peer lender wins landmark rating -
A sliced-and-diced package of peer-to-peer loans has secured a credit rating from Standard & Poor’s, the first time a major credit rating agency has agreed to formally evaluate a securitisation from the fast-growing “P2P” sector.
File this / SoFi under my anti-portfolio. D’oh.
Funding Circle Gets Funded, $65M More For Its Small Business Lending Marketplace -
This space is heating up for a reason.
Yelp Liberates Its API To Box Out Foursquare And Google -
Yelp wants as many inroads and reminders for its service around the web as possible, so today it upped the limit on its API for pulling nearby places,..
Yelp opening up its API and data set could/should be a fantastic boon to startups selling into, analyzing and work with SMBs.
Wonga’s new chairman scraps advertising puppets amid review -
File this under: It’s still not easy to be a payday lender. Wonga posited itself as the clean, friendly and respectable online payday lender but failed to keep many of those promises and is now being forced to retrench under new management. I certainly hope they can complete their turn around successfully.
CFPB Says ACE Cash is a Predatory Lender