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Weekly Online Lending Snapshot – February 23, 2018

Online Lending Weekly_snapshot

The U.S. Fed released the minutes of January’s Federal Open Market Committee meeting this week. While little in these notes would fall into the ‘surprise’ column—everything appears on-track for the anticipated rate hikes later this year although, some fear they could raise rates too quickly or more often than expected—the market reaction was interesting to watch. Note a few of the headlines that followed, Fed Minutes Timing Issue Triggers Volatile Two-Sided Reaction, Why the Dow nosedived after the Fed minutes release, Wall Street falls as Fed minutes send bond yields higher, and Fed’s James Bullard Cautions on Hawkish Minutes Reaction; Dow Futures Pop.


In other news, China-based consumer credit scoring platform Baihang Credit Scoring was granted a three-year license by the People’s Bank of China. The Financial Conduct Authority (FCA) and the U.S. Commodity Futures Trading Commission (CFTC) announced a deal to collaborate and support fintech initiatives. Anyfin, a Sweden-based fintech startup to help consumers refinance existing loans, reportedly closed a €4.8 million Series A round co-led by Accel, and Northzone, with participation from Rocket Internet’s Global Founders Capital, and others. U.S.-based Even Financial announced it has secured a strategic investment round of $3 million from American Express Ventures, as well as Plug & Play and Arab Angels. Small business lender BFS Capital announced it secured a new $175 million revolving credit facility from funds managed by Ares Management, LP. Lastly, consumer lender, Braviant Holdings, announced it raised $5 million from Loom Capital, LLC. Alongside the equity investment, they entered into an exclusive partnership with a subsidiary of Trend Capital, a tech-enabled digital marketing platform affiliated with Loom.


Note that this report is updated as of Thursday’s market close to ensure we can get it to you before the weekend. Please contact us with any feedback or suggestions you may have for future snapshots.


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