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Innovations in payments and e-commerce are just getting started. The world of "New Finance" is one of endless possibilities.
December 29 -
Some startups have been criticized for charging high fees and interest rates, but online lenders argue that borrowers are willing to pay them for the sake of expediency.
December 29 -
Once known as peer-to-peer, online marketplace lending grew phenomenally and evolved rapidly in 2014, as capital flooded in from institutional investors and traditional bankers sat up and took notice.
December 17 -
Before its IPO this week, online lending platform OnDeck was operating "with the discipline of a public business," holding simulated earnings calls among other exercises, says Noah Breslow.
December 17
Biz2Credit, an online lending marketplace geared toward small businesses, has received a $250 million investment capital agreement from Direct Lending Investments, a fund that purchases small business loans through online and peer-to-peer lending platforms.
As part of the deal, Biz2Credit will receive the full investment amount over the next three years.
"Teaming with Biz2Credit underscores our commitment to helping entrepreneurs succeed by giving them fast access to the funds they need to start, grow, and manage their businesses," Brendan Ross, president of Direct Lending Investments, said in a press release.
Biz2Credit facilitates short-term, higher interest rate loans to small businesses that need temporary infusions of cash. Its platform matches borrowers to financial institutions based on company profiles. It has arranged more than $1.2 billion in small business funding.
The company becomes the latest alternative finance lending platform to receive an influx of capital this month. Lending Club and fellow small business-specific lender OnDeck Capital both raised hundreds of millions of dollars in their initial public stock offerings earlier this month.
