Weekly Online Lending Snapshot – February 24, 2017
We typically cover the most recent online lending activity in the U.S. in our weekly snapshot. This week, we thought we’d take a quick scan around the world and see what was happening abroad. In China, as reported by the Beijing Bureau of Financial Work, nine out of 10 of the roughly 5,000 lending platforms across the country may not survive the coming year as the government begins a well-telegraphed tightening of regulatory supervision of these lending platforms. NatWest Bank, in the U.K., announced the launch of a digital platform for small and medium-sized businesses to apply for unsecured loans up GPB$150,000. Australian small business lender Prospa raised an AU$25 million funding round led by Sydney-based AirTree Ventures valuing the firm at AU$235 million. It was reported on Wednesday that a Berlin-based small business lender, Bitbond, raised an additional EUR$1.2 million Euro, bringing their total equity capital raised to EUR$2.3 million. Lastly, LendIt, one of the largest global conferences on lending and fintech, announced the finalists for this year’s PitchIt at LendIt USA. PitchIt gives eight startups the opportunity to pitch their companies to investors as well as the general public.
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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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