Pi Capital International LLC has advised Money360 on a $250 million structured debt facility; the funding comes from a financial institution in South Korea; Pi Capital was able to facilitate the transaction through its global alternative capital network. Source
Ron Suber has invested in online commercial lending platform Money360 and will also join the firm as a strategic advisor; Money360 has been growing fast and estimates loan originations will exceed $500 million by 2017; the investment will add to Ron Suber's fintech portfolio which he is managing from a family office; his equity investment follows positive returns from loan investments on the platform. Source
After substantial growth in 2016, Money360 has expanded its team by adding two new divisions and directors; David Christensen will lead the Northwest region and Kenneth Wood will lead the Northeast region; in December the company reported a record month of lending with $35 million in loans; in the first few months of 2017 it expects to report cumulative lending of over $200 million. Source
I am certainly late with this but I have finally found the time to bring you my quarterly returns report...
Money360 is a marketplace lending platform focused on commercial real estate; Evan Gentry of Money360 provides insight on the firm in a Lend Academy podcast; the firm offers loans of $1 million to $15 million for commercial real estate properties; it has two primary products, shorter term bridge loans which are mainly funded by high net worth investors, family offices, hedge funds and institutional investors and then permanent longer term loans funded by banks and credit unions; the company has also launched an open-end fund which allows investors to invest in a portfolio of the company's commercial real estate loans; it has plans for continued growth in 2017 with the goal of $1 billion in annual originations over the next few years. Source
Money360 has reported another milestone in the nascent online lending commercial real estate market; the firm has originated $100 million in new commercial real estate loans in the past six months, doubling its total from August 2016; four recent loan closings for a total of $38 million helped the company reach its $200 million milestone; Money360 says it expects to exceed $500 million in loan transactions by the end of 2017. Source
Peter Renton shares returns from his marketplace lending portfolio as of Q3 2017; overall returns for Renton’s portfolio was 6.64%; declining performance in the portfolio is primarily due to LendingClub loans; new additions to his portfolio for the quarter include AlphaFlow, Money360 and YieldStreet. Source
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[Editor’s note: This is a guest post from John Maute, Board Member at Money360. Money360 is a Gold Sponsor at LendIt...
Every quarter, LendIt co-founder Peter Renton shares his marketplace lending returns; in this blog post he shares his Q4 2019...
Every quarter Peter Renton, Founder of Lend Academy and Co-Founder of LendIt Fintech shares his investments in various marketplace lenders;...