When funding rounds are down and smaller than they used to be, some fintechs switch to asset-based and Venture debt to keep kindling on the burn rate pile.
Kroll Bond Rating Agency has assigned preliminary ratings to a LendingClub securitization portfolio; the loan securitization, LendingClub Issuance Trust, Series 2016-NP2 (LCIT 2016-NP2), is valued at $101.75 million and includes two classes of notes with LendingClub consumer loans; the class A tranche which accounts for 84% of the deal at $85.3 million, is rated BBB; the class B tranche accounts for 16% at $16.4 million and is rated BB+. Source
Everyone is talking about how AI is the next big thing, and there is no doubt it is making waves. But is the world ready?
LendIt’s sister company, NSR Invest, is looking for a new Investment Director who will be responsible for deal execution, deal...
Hiring competition has increased across sectors - A focus on financial wellness may equate to higher employee retention and motivation.
Federico Baradello founded Finalis, the investment banking-as-a-service platform for dealmakers, after working in a sector he knew was long overdue for an upgrade.
How is Generative AI being used in financial services? Spoiler: it's not. But, once perfect, it could have significant impact.
The Federal Open Market Committee raised its target for the federal funds rate to 0.50% to 0.75% at its December meeting; Fed officials also signaled a more aggressive approach for rate increases in 2017 with projections showing the potential for three more rate increases next year; improvements in the labor market, positive GDP growth and stable inflation were key market factors for the rate increase. Source
The deal will allow Mosaic to free up room on their own balance sheet and finance more loans; the company operates as a hybrid lender and completed a $139 million securitization in February; the move shows the willingness for a big bank to buy and own solar loans. Source
Although it may seem like a hellish year for fintech, it's not all been doom and gloom. Significant headway has been made in developing tech.