We start out the week with yet another blockbuster fintech acquisition. The Wall Street Journal reported late Saturday that Intuit,...
Ken Lin started Credit Karma back in 2007; since then the company has attracted 100 million members and brought in...
Competition in the personal loan market has become quite heated since the financial crisis; banks of all sizes, and credit unions now have to compete with the likes of emerging fintech companies who have originated billions in loans; at LendIt USA 2017 Ken Lin of Credit Karma did a keynote presentation on some of the keys to success in this highly competitive market; helping to understand the trends of the last few years (higher defaults and increased APRs) can first give you a better understanding of current market conditions; the keys to success to overcome and reverse those trends are to continuously refine your underwriting models, solve real customer pain points and find a way to win on mobile; keeping ahead of the curve is not easy with so many players but making improvements to certain areas could go a long way. Source
The year has started out strongly for fintech M&A with four significant deals announced in just the first two months;...
As the sparkling firecracker news of acquisitions, plans, and partnerships in the BNPL space fizzle, oversight reporting has sprung up. A Credit Karma survey found that of those who used BNPL, more than half of the younger crowd missed at least one payment.
I dig deeply into the $5.3 billion acquisition of data aggregator Plaid by $500 billion payments network Visa. We examine why this deal is worth 25-50x revenue, while Yodlee's sale to Envestnet was priced much lower. We also look at how Plaid could be an existential threat to Visa, and why paying 1% of marketcap to protect 200 million accounts may be a good bet. Broader implications for product manufacturers across payments, investments, and banking also emerge -- the middle is getting carved out, and infrastructure providers like Visa or BlackRock are moving closer to the consumer.
In this week’s PeerIQ Industry Update they cover the growing turmoil in the markets due to the spread of coronavirus...
According to the WSJ, Credit Karma isn’t receiving any proceeds or issuing new shares as part of the deal; Silver Lake will instead be purchasing shares from early investors and employees in a secondary sale; the investment values the company around $4 billion; Credit Karma generated $500 million in revenue in 2016 and according to CEO Kenneth Lin they have been growing at a double-digit pace since; Credit Karma last raised money in 2015. Source
As the sun sets on 2020 and we look back at this past year nearly everything is viewed through the...
One of the best ways to learn what is going on during the current crisis is to attend live virtual...