The $5.8 billion in receivables sold to Synchrony according to a TechCrunch article, “also includes Synchrony’s acquisition of $1 billion in participation interests in PayPal receivables held by certain investors and a chartered financial institution.”; the two companies have partnered since 2004 to offer PayPal users branded credit cards; Synchrony will now be the exclusive issuer of the PayPal Credit online consumer financing program. Source
PayU is a largest payments processor in India and it is continuing its moves into lending in that country with...
Meta Financial Group formed a partnership to provide personal loans to customers of NY based Liberty Lending; Meta said they will look to originate between $500mn to $1bn of personal loans during the three year partnership; “We are excited to partner with a respected and growing brand in online lending, and look forward to working together to deliver best in class loan products to consumers,” Brent Turner, Meta's head of consumer lending, said in a press release reported by American Banker. Source.
An online lending startup with a unique concept has raised $500,000 in seed funding; CreditMate seeks to offer online loans for bikes and scooters in India; the company has partnered with 25 dealers in Mumbai and the process works similar to an auto loan; borrowers can identify the bike of their choice and work with the dealer for purchase and loan approval. Source
Swedish fintech Anyfin has raised a $30mn series B round led by EQT Ventures with participation from Accel, Northzone, Fintech...
Last week I was at the Digital Lending + Investing conference in New York. One of the most interesting sessions...
Consumer lending fintech Affirm (ticker: AFRM) went public on the Nasdaq Wednesday and saw their stock take off. Shares were...
Klarna CEO Sebastian Siemiatkowski gives a daily update each day on how the company is doing during the crisis and...
Reuters reports that Colchis Capital Management, a major player in investing in online direct lending platforms is winding down its...
Lenders are facing some extraordinary times right now as they try to prepare for the months ahead; underwriting risk has...