Marketplace lending news roundup 14/03/17

By Daniel Lanyon on 14th March 2017

P2P/Marketplace LendingAlternative Credit

The most important stories and data from the world of Marketplace lending and alternative finance.

Marketplace lending news roundup 14/03/17

Nationalism may be on the rise politically, but in fintech the opposite is true with collaboration the new and emerging trend. Lending Works has opened a new channel to customers in the form of a tie-up with digital only bank Revolut, who also recently announced a partnership with property investment platform Bricklane.

Zopa, the UK’s largest platform, is having to keep new investors on ice, however, having last week announced a waiting list.

In the funds world, while star fund manager Neil Woodford has been buying more exposure to P2P Global Investments, rival asset manager Old Mutual Global Investors has been selling some of its exposure to VPC Speciality Lending.

Phillip Hammond’s first Budget as Chancellor last did not go down well with….anyone.  In particular, the fintech and alternative finance industry has hit back with several industry figures taking the opportunity to speak out against Hammond’s lack of tacit support for the burgeoning industry.

Nonetheless, one piece of new policy that will see dividend taxes become less favourable could potentially benefit the Innovative Finance ISA. More good news comes this week in the form of a new report by Deloitte which suggests, the online lending is not in a state of existential crisis – as some have suggested – but is in fact in rude health.

Over in the US, the money keeps flowing for platforms. US-based Kabbage has priced its second ever securitisation at $525m.

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AltFi Amsterdam Summit 2018

AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.

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Companies in this Article:

Lending Works
Deloitte
Revolut
Zopa

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