Startup Roundup: Marketplace lending up big, blockchain getting a lot of attention
[alert type=white ]Every week, we write about fintech startups raising money, making partnerships, and generally disrupting finance.[/alert]
Wow, what a week.
Money 2020 has turned into a must-attend fintech event. Equity crowdfunding rules were announced on Friday – creating utter chaos for some players and elation for others. Things are speeding up in fintech land as stock market holder ICE bought leading data provider IDC in a deal worth over $5B.
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OneVest Launches “1000 Angels” to Reinvent Venture Capital (Crowdfund Insider)
Tradestreaming Tearsheet: Onevest, a New York based investment crowdfunding platform focused on funding start-up entities, has announced the launching today of its new “1,000 Angels, the “world’s largest digital-first, invitation-only investor network”.
$1 Billion In Small Business Loans From PayPal (PYMNTS.COM)
Tradestreaming Tearsheet: PayPal used to be all about processing payments instead of handling funds, but if you’re not growing in this business, you’re dying. PayPal is serious about growing its SMB loan business and seems to be positioned well to continue attracting new business borrowers.
Can This Startup Restore Privacy in Payments and Turn a Profit? (American Banker)
Tradestreaming Tearsheet: Privacy.com is catching the attention of many finance professionals (including some smart fintech investors) as a creative security platform that’s building its business by protecting transaction privacy. In the Edward Snowden era, it will be interesting to see if the startup can build a business with its revenue model (taking a cut on interchange fees around a transaction).
Bizfi Originates $127M in Financing in Q3 2015 (BusinessWire)
Tradestreaming Tearsheet: Bizfi, a fintech platform that combines aggregation, funding and a participation marketplace for small businesses had a very good quarter, reporting $127M in business financing during Q3 2015.
ReadyForZero launches credit monitoring product (ReadyForZero)
Tradestreaming Tearsheet: Following CreditKarma’s success in providing credit tools, personal finance manager (PFM), ReadyForZero launches its own credit monitoring tool.
Groundfloor Announces Three New Tools to Expand Peer-to-Peer Real Estate Lending (Crowdfund Insider)
Tradestreaming Tearsheet: On Monday during the Money2020 conference, real estate lending marketplace Groundfloor introduced three new analytic tools that allow peer-to-peer real estate investors greater flexibility and analysis over security selection and portfolio management.
Digital Asset Holdings Acquires Blockchain-as-a-Service Innovator, Blockstack.io (Finovate)
Tradestreaming Tearsheet: “Miron Cuperman, Blockstack CTO, called Digital Asset “the best platform” to deliver Blockstack’s blockchain application development tools as part of a comprehensive solution for customers. Digital Asset Holdings CEO Blythe Masters praised both Blockstack’s technology as well as its talent, calling Cuperman “a renowned pioneer in the blockchain world.””
Lending Club Reports Q3 Results. Loan Originations Jump 92% Year-over-Year (Zacks)
Tradestreaming Tearsheet: Lending Club (NYSE: LC), the largest marketplace lending platform in the US, has announced Q3 results. And the origination growth is silencing some of the biggest critics of the first marketplace lender to float on public markets.
Startups raising money this week
Spreedly Raises $2.5 Million in New Funding (Finovate)
Tradestreaming Tearsheet: Spreedly helps marketplaces and platforms accept a wider range of payment types while reducing cost, complexity, and compliance burden.
Zebit Secures $10M investment; Launches Zero-Interest Credit to the Underserved (LetsTalkPayments)
Tradestreaming Tearsheet: The credit can be used to make purchases from the Zebit Market or directly from retailers that accept Zebit as a checkout option.
Issuer processor platform Marqeta closes $25m funding round, new customers (Finextra)
Tradestreaming Tearsheet: At Money20/20 2015, Marqeta, the Open API issuer processor platform, announced a host of new marquee customers, including Affirm, DoorDash, HyperWallet and Kabbage, alongside known customers such as Facebook, Bento for Business and Perk. Marqeta also confirmed closing a $25 million Series C round.