Laplanche commits to “increased transparency” with new reporting partnership

By Ryan Weeks on 11th July 2017

P2P/Marketplace LendingAlternative Credit

Upgrade signs deal with reporting and analytics firm dv01.

Laplanche commits to “increased transparency” with new reporting partnership

Former LendingClub founder and CEO Renaud Laplanche has signed his new platform up to a partnership with dv01. The data firm will now manage the recently-launched Upgrade’s reporting and analytics, with the aim of bringing greater transparency to institutional investors.

Laplanche was ousted from LendingClub in May 2016, only to return with a new consumer lending outfit and $60m of venture backing in April of this year. Under the new partnership, all Upgrade investors will initially receive complimentary access to Upgrade data through the dv01 platform.

dv01’s tools allow investors to visualise their holdings, providing insights on loan composition, performance metrics and credit metrics. The company also sheds light on securitisations, and will act as the loan data agent for Upgrade’s planned programme of securitisations. Upgrade has advised that it intends to tap the securitisation market on a quarterly basis.

dv01’s past exploits include having acted as the loan data agent for the consortium of investors that signed a $5bn loan purchasing agreement with Prosper in February of this year. The company also works with the likes of LendingClub, CommonBond, SoFi and Marlette.

"We intend to bring a new wave of innovation and increased transparency to both sides of the marketplace, consumers and investors," said Upgrade co-founder and chief executive officer Renaud Laplanche (pictured). "In particular we are committed to increasing transparency for both whole loan buyers and securitization investors. Our partnership with dv01 will provide institutional investors access to the most up-to-date Upgrade data available—including monthly refresh of credit bureau information—and the tools necessary to analyze that data efficiently."

Comments

Andy Stone

07 Sep 2017 11:17am

Wonder whether Laplanche will be transparent about his business dealings at Upgrade or whether he'll mislead investors about how many loans his company are funding like he did at Lending Club which prompted his departure? Amazing how short sighted the sector is - only a year ago he was the disgrace of the sector and almost single-handedly ruined its reputation - now his face is being plastered everywhere and financial veterans are flocking to his new firm. Wonder what dodgy dealings he's got up to this time? Time will tell.

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.

5th November 2018


Companies in this Article:

CommonBond
Prosper Marketplace
dv01
SoFi

People in this Article: