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Like General Motors extending credit to car dealers, Google will use Lending Club to finance resellers, service providers, and consultants in its supply chain while putting to work a portion of the tech giant's cash war chest.
January 26 -
Community banking groups have recently struck referral deals with marketplace lenders that could add revenue in the short run, but they might be giving away potentially valuable data and customers in the process.
March 11 -
Critics of online alternative lenders argue that their underwriting models are unproven and that a financial crisis could bring the whole industry crashing down. But while Lending Club and other startups may be relatively new to the scene, they're no greenhorns.
January 28
Lendio, an online lending marketplace for small business, raised $20.5 million of equity capital in a recently completed funding round.
Blumberg Capital, Napier Park's Financial Partners Group, North Hill Ventures and Pivot Investment Partners participated in the round, as did returning investors Tribeca Venture Partners, Runa Capital and Highway 12 Ventures, Lendio said in a news release Tuesday.
Dan Kittredge of Napier Park and Chris Gottschalk of Blumberg will join Lendio's board, the release said.
"Lendio's leadership team has proven its ability to drive innovation and deliver an incredible platform that helps both small-business owners and small-business lenders alike," Kittredge said in the release.
