With regulatory changes in China the online lender LexinFintech scaled back their IPO target from $500mn to $120mn; the company is looking to IPO next week and is offering 12 million shares at a price range of $9 to $11; recent IPOs by Chinese fintechs like Qudian have seen a significant drop in value after the regulatory push in China. Source.
Online lenders are about to face their biggest test and many are trying to balance how they keep up with...
I have been following Citizens Bank for many years as they built this robust online lending operation across multiple verticals....
One of the hottest trends on Wall Street has found its way to the fintech market. A SPAC or special...
Online lenders have felt the brunt of the current crisis as many of the platforms operate on a marketplace model...
Sens. Sherrod Brown, D-Ohio, Elizabeth Warren, D-Mass., and three other Democratic senators sent a letter to Upstart Network and other...
Last year’s batch of Chinese IPOs did not perform well and ended up losing almost $1bn worth of shareholder money; there is an expectation that the number of Chinese IPOs will jump 30 percent in 2018; Qudian, one of the biggest from a year ago, has seen their stock plummet by more than 50 percent; expectations and the Chinese government crackdown on online lending has really hurt the prospects of some companies looking to list. Source.
According to data from the FDIC as recently as 2017 about 17 percent of Black households and 14 percent of...
Last week the sixth annual LendIt Fintech USA conference took place in San Francisco. Here are Peter Renton’s thoughts on some of the ideas that were shared by the keynote speakers as well as a summary of the rest of the event. Source.
A survey by FT Confidential Research shows the online lending industry in China continues to consolidate from new regulations; the days of significant growth and platform expansion have ended as the government looks to weed out the smaller players; since 2016 the government has capped borrowing limits, shut down secondary markets and forced platforms to file with local regulators. Source.