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<strong>TRACXN</strong> <strong>REPORT</strong> : <strong>ALTERNATIVE</strong> <strong>LENDING</strong><br />
December 2015<br />
Alternative Lending Report, December 2015
Contents<br />
Topic<br />
Page<br />
Sectors we track 03<br />
Sector Overview 04<br />
Market Map 09<br />
Company List 22<br />
About Tracxn 202<br />
2<br />
Alternative Lending Report, December 2015
Illustrative sectors we track<br />
ENTERPRISE<br />
INFRASTRUCTURE<br />
FINTECH<br />
MOBILE<br />
ENTERPRISE<br />
APPLICATIONS<br />
SECURITY<br />
BITCOIN<br />
MOBILE COMMERCE<br />
SAAS<br />
STORAGE<br />
PAYMENTS<br />
MOBILE PAYMENTS<br />
MOBILE-FIRST ENT. APPS<br />
NETWORKING<br />
INVESTMENT TECH<br />
MOBILE MARKETING<br />
INTELLIGENT ENT. APPS<br />
MOBILITY<br />
INSURANCE TECH<br />
MOBILE DEV TOOLS<br />
OPEN SOURCE<br />
IT OPS<br />
CROWDFUNDING<br />
MOBILE HEALTH<br />
RETAIL TECH<br />
CLOUD INFRASTRUCTURE<br />
<strong>ALTERNATIVE</strong> <strong>LENDING</strong><br />
MOBILE GAMING<br />
MARKETING TECH<br />
API MANAGEMENT<br />
REMITTANCE<br />
MOBILE LEARNING<br />
STEALTH MODE<br />
BIGDATA INFRASTRUCTURE<br />
BANKING TECH<br />
MOBILE COMMUNICATION<br />
VERTICAL SAAS<br />
TECH CONSUMER EDUCATION HEALTHCARE<br />
INTERNET OF THINGS<br />
MARKETPLACES<br />
EDUCATION IT<br />
LIFE SCIENCES<br />
3D PRINTING<br />
FOOD TECH<br />
SELF LEARNING<br />
DIGITAL HEALTH<br />
3<br />
Alternative Lending Report, December 2015
Sector overview<br />
Scope of report<br />
This report covers alternative lending platforms i.e. the loan options available to consumers and businesses other than the traditional<br />
bank loans. It also covers the ecosystem of companies that support these lending platforms. Over $9.5B invested since 2005, with<br />
~$4.7B invested in 2015 YTD. 327 rounds of funding between Jan 2014 – Nov 2015. 7 companies, that were founded in last 10 years<br />
have joined the unicorn club i.e. SoFi, Credit Karma, Klarna, Avant, Prosper, Funding Circle and Kabbage. Companies in Consumer<br />
Lending space have seen the highest funding with Personal Loans and Education Loans being the top funded sub-sectors.<br />
• Personal Loans – 166 Companies and ~$2B funding<br />
• Education Loans – 33 Companies and ~$1.7B funding<br />
Most active funds<br />
• QED Investors (Klarna, Avant, Prosper)<br />
• Victory Park Capital (Avant, Borro, LendUp)<br />
• First Round Capital (LendingHome, OnDeck, Earnest)<br />
Notable investments in last three months<br />
• SoFi (Consumer Loans – Education Loans) - $1B Series E funding led by SoftBank – Sept 30, 2015.<br />
• Avant (Consumer Loans – Personal Loans ) - $325M Series E funding led by General Atlantic – Sept 29, 2015.<br />
• Kabbage (Business Loans – Working) - $135M Series E funding led by Reverance Capital Partners – Oct 14, 2015.<br />
• Auxmoney (Consumer Loans – Personal Loans) - €150M Series C funding from Aegon – Oct 21, 2015.<br />
4<br />
Alternative Lending Report, December 2015
Sector overview<br />
Notable investments in last three months<br />
• SoFi (Consumer Loans – Education Loans) - $150M preferred stock investment by Renren – Oct 28, 2015.<br />
• Kreditech (Consumer Loans – Personal Loans) - $92M Series C funding led by J.C. Flowers & Co. – Sept 29, 2015.<br />
• Renovate America (Consumer Loans – Project Financing) - $90M PE Round of funding led by DFJ Growth – Oct 1, 2015.<br />
• Earnest (Consumer Loans – Education Loans) - $75M Series B funding led by Battery Ventures – Nov 17, 2015.<br />
• Prospa (Business Loans – Term Loans) - $60M Series B funding led by Carlyle Group – Sept 3, 2015.<br />
• Fundbox (Alternative Financing – Invoice Discounting) - $50M Series C funding led by Spark Capital – Sept 10, 2015.<br />
• FactorTrust (Enablers – Credit Scoring) - $42M funding by ABS Capital Partners and Mission OG – Nov 03, 2015.<br />
• Lenda (Consumer Loans – Mortgage Loans) - $2M Seed funding led by Lakestar – Nov 24, 2015.<br />
• Mirador Financial (White - Label Platform) - $7M Series A funding led by Core Innovation Capital – Nov 30, 2015.<br />
Notable events in last year<br />
• Lending Club and OnDeck went public in December, 2014.<br />
• LoanDepot postponed its IPO, citing market conditions as the reason.<br />
• TrustBuddy shutdown following suspected misconduct.<br />
• JP Morgan Chase Bank has announced strategic partnership with OnDeck to use OnDeck’s platform to serve it’s small business<br />
customers. The collaboration is expected to launch in 2016.<br />
5<br />
Alternative Lending Report, December 2015
No. of Companies<br />
Over 800 companies have been founded in last 10<br />
years with ~1/4 th companies founded in 2014<br />
Major<br />
Companies<br />
Found<br />
250<br />
Number of Companies founded between 2005 – 2015 (YTD)<br />
• Number of companies founded<br />
in last 10 years has seen an<br />
upward trend with over 350<br />
companies founded in last 2<br />
year.<br />
200<br />
165<br />
211<br />
• 7 of these companies have<br />
become unicorns and 2 have<br />
gone public.<br />
150<br />
100<br />
68<br />
90<br />
141<br />
• Consumer lending platforms (60)<br />
founded in 2015 (YTD) are<br />
double than Business Lending<br />
platforms (30) founded during<br />
the same period.<br />
50<br />
0<br />
36<br />
40<br />
28<br />
22<br />
17<br />
12<br />
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015YTD<br />
Year<br />
• Last 2 years have witnessed<br />
launch of alternative lending<br />
platforms in regions outside the<br />
US and UK.<br />
6<br />
Alternative Lending Report, December 2015
Funding (in $ millions)<br />
Over $9.5B has been invested in the sector in 645<br />
funding rounds since 2005.<br />
7<br />
Notable<br />
Funding<br />
Rounds<br />
5000<br />
4500<br />
4000<br />
3500<br />
3000<br />
2500<br />
2000<br />
1500<br />
1000<br />
500<br />
0<br />
Total funding and number of funding rounds between 2005 – 2015 (YTD)<br />
$7.5M $27M $20M $12M $22M $24.5M $155M $72M $125M $225M $1B<br />
$1M $20M $12M $12M $16M $17M $117M $37M $37M $112M $325M<br />
22<br />
9<br />
3<br />
$9 $68 $236 11<br />
$68<br />
Alternative Lending Report, December 2015<br />
19<br />
28<br />
$97 $137<br />
57<br />
$705<br />
62<br />
$500<br />
107<br />
$825<br />
166<br />
$2,199<br />
$4,738*<br />
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015<br />
Year<br />
Funding (in $ millions) No.of Funding Rounds<br />
180<br />
161 160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
YTD<br />
No. of Funding Rounds<br />
• $9.5B has been invested in last<br />
10 years with around half of the<br />
amount invested in 2015 alone.<br />
• Almost 75% of the total<br />
investment was done in last 2<br />
years (2014-15 YTD).<br />
• Consumer Lending platforms<br />
received ~70% ($3.3B) of the<br />
total funding in 2015.<br />
• No. of funding rounds per year<br />
have seen an upward trend since<br />
2008 and reached its peak in<br />
2014.<br />
• SoFi has received single highest<br />
funding round of $1B from<br />
Softbank in 2015.<br />
Note : *includes $1B funding of SoFi
The rise of alternative lending can be attributed<br />
to:<br />
No Reserve<br />
Requirements<br />
• Unlike Traditional Lenders, loans are not kept on the books of Alternative Lending Platforms (subject to<br />
their business model), hence they do not have any reserve requirements.<br />
Alternative Credit<br />
Scoring Models<br />
Low Fixed and<br />
Operating Costs<br />
Customized<br />
Interest Rates<br />
• Alternative Lending Platforms have huge borrower base because of proprietary analytics and alternative<br />
credit scoring models.<br />
• Lending platforms have low overheads and fixed costs as compared to traditional lenders because of<br />
online presence and automated operations.<br />
• Operating Cost of Lending Club ~2% 1<br />
• P2P lending platforms directly match borrowers with lenders, thus allowing them to set their own interest<br />
rates.<br />
Convenience and<br />
quick loan<br />
processing<br />
• Unlike lengthy procedures followed by traditional lenders, alternative lending platforms use automated<br />
loan processing which is quick and convenient for the users.<br />
New Asset Class • Alternative Lending Platforms offers a new asset class to yield starved investors.<br />
Note: 1 Source<br />
8<br />
Alternative Lending Report, December 2015
Alternative lending – market map<br />
9<br />
Alternative Lending Report, December 2015
Alternative lending – market map<br />
CONSUMER LOANS<br />
BUSINESS LOANS<br />
Companies - 270, Funding - $2.1B<br />
Companies - 349, Funding - $6B<br />
ALTERNATE FINANCING<br />
Companies - 40, Funding - $550M<br />
ENABLERS<br />
Companies - 213, Funding - $1.2B<br />
WHITE-LABEL PLATFORM<br />
Companies - 9, Funding - $29M<br />
10<br />
Alternative Lending Report, December 2015
Alternative lending – market map<br />
CONSUMER LOANS<br />
HORIZONTAL<br />
$6.1B<br />
$697M<br />
Lending Club, Prosper<br />
PERSONAL LOANS<br />
$2B<br />
EDUCATION LOANS<br />
$1.7M<br />
PoS FINANCING<br />
$830M<br />
PAYDAY LOANS<br />
$218M<br />
Avant<br />
SoFi, Earnest<br />
Affirm, Klarna<br />
Wonga<br />
MORTGAGE LOANS<br />
$78M $175M<br />
ASSET BACKED<br />
EMPLOYER LOANS<br />
$55M<br />
MICRO LOANS<br />
$12M<br />
LendInvest<br />
Borro<br />
Zebit<br />
Kiva<br />
AUTO LOANS<br />
$73M<br />
CREDIT BUILDER<br />
$11M<br />
CREDIT CARD REFINANCING<br />
$26M<br />
PROJECT FINANCING<br />
$146M<br />
DriverUp<br />
SelfScore<br />
Payoff<br />
Renovate America<br />
HEALTHCARE<br />
$1M<br />
WEDDING LOANS<br />
Null<br />
Prima Health Credit<br />
Promise Financial<br />
11<br />
Alternative Lending Report, December 2015
Alternative lending – market map<br />
BUSINESS LOANS<br />
$2.1B<br />
TERM LOANS<br />
$1B<br />
WORKING CAPITAL<br />
$742M<br />
MERCHANT CASH ADVANCE<br />
$21M<br />
MORTGAGE LOANS<br />
$283M<br />
FundingCircle, OnDeck<br />
Kabbage, Behalf<br />
NeoGrowth, Lighter Capital<br />
LendingHome<br />
PROJECT LOANS<br />
$33M<br />
FRANCHISE LOANS<br />
$14M<br />
ASSET BACKED LOANS<br />
Null<br />
LOANS FOR NON-PROFITS<br />
Null<br />
Mosaic<br />
ApplePie Capital<br />
Loanzy<br />
Semble<br />
ALTERNATE FINANCING<br />
$550M<br />
INVOICE DISCOUNTING<br />
$130M<br />
FACTORING<br />
$200M<br />
DYNAMIC DISCOUNTING<br />
$220M<br />
Fundbox<br />
C2FO<br />
Tradeshift, Taulia<br />
12<br />
Alternative Lending Report, December 2015
Alternative lending – market map<br />
ENABLERS<br />
$1.2B<br />
CREDIT SCORING<br />
$628M<br />
<strong>LENDING</strong> SOFTWARES<br />
$115M $267M<br />
AGGREGATOR<br />
Credit Karma<br />
ISGN, Cloud Lending, Roostify<br />
Bank Bazaar, MoneyExpert<br />
ANALYTICS<br />
$70M $56M<br />
INVESTMENT PLATFORM<br />
RISK AND FRAUD MANAGEMENT<br />
$44M Null<br />
CREDIT MANAGEMENT<br />
Think Finance<br />
Orchard<br />
ID Analytics<br />
Creditude<br />
WHITE-LABEL PLATFORM<br />
$29M<br />
Insikt, Mirador Financial<br />
13<br />
Alternative Lending Report, December 2015
Alternative lending - business model description<br />
Alternative lending platforms have been divided into 4 business models on the basis of loan origination. These are:<br />
• Direct Lender : Platforms that have a lending license and take the loans on their own books.<br />
• B2C : Platforms that tie up with a single lender for loan origination.<br />
• B2C Marketplace : Platforms that tie up with multiple lenders for loan origination. Lenders include financial institutions, and<br />
accredited investors.<br />
• P2P Marketplace : Platforms that allow multiple lenders including non-accredited individual investors.<br />
DIRECT LENDER<br />
B2C<br />
B2C MARKETPLACE<br />
P2P MARKETPLACE<br />
14<br />
Alternative Lending Report, December 2015
Consumer loans is the top funded sector in<br />
alternative lending<br />
Funding across various Alternative Lending sectors between 2005 -2015 YTD (in $ million)<br />
Consumer<br />
Loans<br />
$6,087<br />
Lending Club, Prosper, SoFi, Avant<br />
Business<br />
Loans<br />
$2,138<br />
Funding Circle, Kabbage, OnDeck, Fundrise<br />
Enablers<br />
$1,179<br />
Credit Karma, Orchard, Fundera, Roostify<br />
Alternate<br />
Financing<br />
$550<br />
Fundbox, C2FO, Taulia<br />
White-Label<br />
Platform<br />
$29<br />
Insikt, Mirador Financial<br />
15<br />
Alternative Lending Report, December 2015
Consumer loans : breakdown<br />
Funding by Sub-Sectors between 2005-2015 YTD (in $ million)<br />
Personal Loans<br />
$2,007<br />
Funding between 2010 – 2015 YTD (in $ million)<br />
$3,216<br />
Educational Loans<br />
$1,740<br />
PoS Financing<br />
Horizontal<br />
Payday Loans<br />
$218<br />
$697<br />
$830<br />
$98<br />
$419<br />
$270<br />
$481<br />
$1,119<br />
Asset Backed Loans<br />
$175<br />
2010 2011 2012 2013 2014 2015 YTD<br />
Project Financing<br />
Mortgage Loans<br />
$146<br />
$78<br />
Top Companies<br />
No. of Platforms<br />
Funding across Platforms<br />
(in $ million)<br />
Auto Loans<br />
$73<br />
Employer Loans<br />
Credit Card Debt<br />
Micro Loans<br />
$55<br />
$26<br />
$12<br />
51<br />
56<br />
143<br />
B2C<br />
Marketplace is<br />
the highest<br />
funded business<br />
model<br />
$1,072<br />
$2,496<br />
$1,244<br />
$718<br />
Credit Builder Loans<br />
Healthcare Loans<br />
$11<br />
$1<br />
22<br />
Total: 272<br />
Total: $5,530 million<br />
P2P Marketplace B2C B2C Marketplace Direct Lender<br />
The average funding per company is highest for B2C Marketplace at $48M as compared to B2C ($32M), Direct Lender($19M), P2P Marketplace($8M).<br />
16<br />
Alternative Lending Report, December 2015
Extensive rise in student debt<br />
$1.2 tn Outstanding student debt in the US. Student loans have increased by 84% between 2008 and 2014 1 .<br />
$35k<br />
Average student debt for the 2015 graduate. Almost 71% of bachelor’s degree recipients will graduate with a student<br />
loan, compared to less than 35% two decades ago and about 64% a decade ago 2 .<br />
$68B Total student debt for 2015 graduates with a bachelor’s degree 3 .<br />
11.5% The existing student loan default rate in the US 4 . This has increased the demand for education loan refinancing.<br />
$5B Loans issued by SoFi in last 4 years since its launch 5 .<br />
Note: 1 Source, 2&3 Source, 4 Source, 5 This amount includes education loan refinancing, personal loans and mortgage loans.<br />
17<br />
Alternative Lending Report, December 2015
Business loans : breakdown<br />
Funding by Sub-Sectors between 2005-2015 YTD (in $ million)<br />
Funding between 2010 – 2015 YTD (in $ million)<br />
$952<br />
Term Loans<br />
$1,008<br />
$643<br />
Working Capital<br />
$742<br />
$7<br />
$150<br />
$89<br />
$172<br />
Mortgage Loans<br />
Project Loans<br />
$33<br />
$283<br />
Top Companies<br />
2010 2011 2012 2013 2014 2015 YTD<br />
No. of Platforms<br />
Funding across Platforms<br />
(in $ million)<br />
Merchant Cash Advance<br />
$21<br />
45<br />
101<br />
B2C<br />
Marketplace is<br />
the highest<br />
funded business<br />
model<br />
$481<br />
$322<br />
$542<br />
72<br />
$627<br />
Franchise Loans<br />
$14<br />
10<br />
Total: 228<br />
Total: $1,972 million<br />
P2P Marketplace B2C B2C Marketplace Direct Lender<br />
The average funding per company is highest for B2C at $54M as compared to Direct Lender($31M), B2C Marketplace($9M), P2P Marketplace($3M).<br />
18<br />
Alternative Lending Report, December 2015
Emergence of Alternative Credit Scoring<br />
?<br />
Around ¼ th<br />
of the US<br />
adults do<br />
not have<br />
FICO score 1 .<br />
The ratio is<br />
worse in<br />
other<br />
countries.<br />
Conventional Credit<br />
Scoring<br />
Uses existing financial<br />
and credit history to<br />
access credit<br />
worthiness.<br />
Limitations of Alternative<br />
Credit Scoring<br />
Does not cover<br />
people with limited<br />
or no prior credit<br />
history. This mainly<br />
includes recent<br />
immigrants, recent<br />
college graduates.<br />
Need for Alternative<br />
Credit Scoring<br />
To provide predictive<br />
credit scores for<br />
previously unscorable<br />
credit applicants to<br />
increase credit access<br />
to them.<br />
Forms The of emerging Alternative<br />
alternative Credit Scoring credit<br />
scoring companies<br />
The emerging<br />
use data points<br />
alternative credit<br />
like regularity of<br />
scoring companies use<br />
utility bills’<br />
data points like<br />
payment, social<br />
regularity of utility<br />
media footprint,<br />
bills’ payment, social<br />
etc. to access the<br />
media footprint, etc.<br />
creditworthiness.<br />
Conventional Credit Bureaus are also venturing into alternative credit scoring to augment their existing<br />
data.<br />
• FICO, in partnership with LexisNexis® Risk Solutions and Equifax®, is doing pilot run for alternative credit<br />
score called FICO® Score XD.<br />
• TransUnion’s alternative credit scoring system is called CreditVision Link.<br />
Social<br />
Media<br />
Utility<br />
Bills<br />
Employment<br />
History<br />
Sources for<br />
Alternative<br />
Credit Score<br />
19<br />
Note: 1 Source<br />
Alternative Lending Report, December 2015
Most active investors<br />
Consumer<br />
Loans<br />
QED<br />
Investors<br />
Klarna,<br />
Zebit,<br />
Avant,<br />
Privlo,<br />
LendUp,<br />
Prosper<br />
Victory<br />
Park<br />
Capital<br />
Kreditech,<br />
ZipMoney,<br />
Elevate,<br />
ZestCash,<br />
Avant,<br />
Borro,<br />
LendUp<br />
First Round<br />
Capital<br />
Better<br />
Finance,<br />
Vouch,<br />
Earnest,<br />
Upstart<br />
SV Angel<br />
Better<br />
Finance,<br />
Pawngo,<br />
LendUp<br />
500<br />
Startups<br />
Blumberg<br />
Capital<br />
Exchange<br />
Corporation,<br />
Kreditech,<br />
AutoFi,<br />
BLender,<br />
PawnHero,<br />
SimplyCredit<br />
Paidy,<br />
Lenda<br />
Sequoia<br />
Capital<br />
Klarna,<br />
Prosper<br />
Accel<br />
Partners<br />
Wonga,<br />
Prosper<br />
Spark<br />
Capital<br />
Privlo,<br />
Affirm<br />
Canaan<br />
Partners<br />
Borro,<br />
LendingClub<br />
Institutional<br />
Venture<br />
Partners<br />
Klarna,<br />
Oportun,<br />
Prosper, SoFi<br />
Khosla<br />
Ventures<br />
Affirm,<br />
Upstart<br />
Light<br />
Speed<br />
Venture<br />
Partners<br />
ZestCash,<br />
Affirm<br />
Omidyar<br />
Network<br />
Finestrella,<br />
Prosper<br />
Business<br />
Loans<br />
CAN<br />
Capital<br />
Behalf<br />
LendingHome,<br />
OnDeck<br />
Kabbage<br />
Neighborly<br />
Able<br />
Lending,<br />
Lendio<br />
Capital<br />
Float, Behalf<br />
Indifi, CAN<br />
Capital,<br />
Funding<br />
Circle<br />
Bond<br />
Street,<br />
Behalf<br />
Realty<br />
Mogul<br />
OnDeck OnDeck BlueVine NeoGrowth<br />
Alternate<br />
Financing<br />
Fundbox Fundbox Fundbox Fundbox<br />
Enablers<br />
Orchard,<br />
L2C,<br />
Fundera,<br />
Credit<br />
Karma<br />
Think<br />
Finance,<br />
PeerIQ,<br />
Orchard<br />
Fundera<br />
Mint,<br />
Fundera,<br />
Credit<br />
Karma<br />
iMoney<br />
Lenddo<br />
BankBazaar,<br />
ApnaPaisa,<br />
Think<br />
Finance<br />
Lenddo Orchard<br />
ID Analytics,<br />
Orchard<br />
Fundera<br />
Blend Labs,<br />
Zest<br />
Finance<br />
Cignifi,<br />
Lenddo<br />
20<br />
Alternative Lending Report, December 2015
Alternative lending – landscape<br />
ENABLERS<br />
CREDIT SCORING <strong>LENDING</strong> SOFTWARE ANALYTICS RISK AND FRAUD<br />
MANAGEMENT<br />
LENDERS<br />
INVESTMENT<br />
PLATFORM<br />
CONSUMER LOANS<br />
Horizontal<br />
ONLINE <strong>LENDING</strong> PLATFORMS<br />
BUSINESS LOANS<br />
Term Loan<br />
Working Capital<br />
AGGREGATOR<br />
Individuals<br />
• HNIs,<br />
Accredited<br />
• Non-<br />
Accredited<br />
Banks<br />
Financial<br />
Institutions<br />
Personal<br />
Education<br />
Point of Sale<br />
Asset Backed Mortgage Payday<br />
Auto<br />
Micro Loans<br />
Employer<br />
Loans<br />
Project<br />
Financing<br />
Mortgage<br />
Factoring<br />
Merchant Cash<br />
Advance<br />
ALTERNATE FINANCING<br />
Invoice<br />
Discounting<br />
Project Loan<br />
Dynamic<br />
Discounting<br />
BORROWERS<br />
Individuals<br />
Businesses<br />
WHITE-LABEL PLATFORM<br />
21<br />
Alternative Lending Report, December 2015
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Alternative Lending Report, December 2015
Alternative lending – company list<br />
DETAILS OF 885 COMPANIES<br />
(309 FUNDED AND 576 UNFUNDED COMPANIES)<br />
COVERS THE FOLLOWING SECTORS<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
23<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (1/71)<br />
Company Details Funding Investors<br />
Horizontal<br />
Horizontal<br />
Horizontal<br />
Horizontal<br />
Prosper [San Francisco, 2005]: Prosper is a peer-to-peer lending marketplace. Prosper allows people to<br />
invest in each other in a way that is financially and socially rewarding. On Prosper, borrowers list loan requests<br />
between $2,000 and $35,000 and individual lenders can invest as little as $25 in each loan listing they select. In<br />
addition to credit scores, ratings, and histories, investors can consider borrowers, personal loan descriptions,<br />
endorsements from friends, and community affiliations. Has disbursed more than $3B in loans as of April 2015.<br />
Valued at $1.9B as of April 2015.<br />
Lending Club [San Francisco, 2007]: LendingClub is a debt-based P2P funding portal and community that<br />
connects borrowers with investors. It gives individuals the ability to play the role of a traditional bank and make<br />
loans. Since inception more than $5 billion in loans have been issued to borrowers and nearly $300 million in<br />
interest payments have been returned to investors. Acquired Springstone in April 2014 for $140M. Named one of<br />
Forbes' America's Most Promising Companies three years in a row, awarded as a 2012 World Economic Forum<br />
Technology Pioneer, and chosen as one of The World's 10 Most Innovative Companies in Finance by Fast<br />
Company in 2013. Raised $57M from DST Global at a valuation of $2.3 Billion. The company had net revenue of<br />
$86.94 million in the first half of 2014, up from $37.09 million in the year-ago period. Filed for an IPO in late 2014<br />
to raise $500 Million.<br />
Exchange Corporation [Tokyo, 2008]: Exchange Corporation (“ExCo”) is a nationally licensed Japanese Non-<br />
Bank Lender and Type II Financial Instruments company, based in Tokyo. ExCo operates the AQUSH.JP peerto-peer<br />
lending service for borrowers and lenders in Japan.<br />
MILI [Moscow, 2012]: MILI is a consumer finance company in Russia. MILI issues loans to active users of social<br />
networks, leveraging their social capital. MILI has built unique scoring methods, paying equal attention to both<br />
standard information sources and users online social capital. Credit decision is made within 5 minutes directly on<br />
the website and money is transferred through one of the largest retail chains in Russia (over 5,000 retails posts) -<br />
Euroset.<br />
$355M<br />
$342M<br />
$12.8M<br />
$6.1M<br />
Institutional Venture Partners,<br />
TomorrowVentures, Benchmark,<br />
Fidelity Ventures, Meritech Capital<br />
Partners, Omidyar Network, DAG<br />
Ventures, Accel Partners, QED<br />
Investors, Draper Fisher Jurvetson<br />
(DFJ), Crosslink Capital, Sequoia<br />
Capital, BlackRock, Credit Suisse<br />
Group AG, J.P. Morgan, BBVA<br />
Ventures, SunTrust, USAA,<br />
Neuberger Berman, Breyer Capital,<br />
Passport Capital<br />
T. Rowe Price, Wellington<br />
Management, BlackRock, Sands<br />
Capital Management, DST Global,<br />
Morgenthaler Ventures, Norwest<br />
Venture Partners, Canaan<br />
Partners, Silicon Valley Bank, Gold<br />
Hill Capital, Foundation Capital,<br />
Union Square Ventures, Kleiner<br />
Perkins Caufield & Byers, Google<br />
Capital, Amidzad Partners,<br />
Thomvest Ventures<br />
500 Startups, CyberAgent<br />
Ventures, Inc., Arbor Ventures,<br />
Recruit Strategic Partners, SIG<br />
24<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (2/71)<br />
Company Details Funding Investors<br />
Horizontal<br />
Horizontal<br />
Horizontal<br />
UangTeman.com - Pinjaman Online, Cepat & Terpercaya [Jakarta, 2014]: UangTeman.com is an online<br />
lending service that provides instant short-term microcredit to Indonesian consumers. At present it provides loans<br />
upto US$160, for less than 30 days and at 1% per day for the first loan. Its big data driven credit risk algorithms<br />
determine, in real time, the creditworthiness of loan applicants within Indonesia. A successful applicant can<br />
expect to receive the loan proceeds in his/her bank account within 2 hours after final approval and verification. It<br />
lends both for personal and business purposes.<br />
DirectMoney [Balmain, 2006]: DirectMoney is an online lending platform for unsecured personal loans of up to<br />
$35,000 for a loan tenure of 3 or 5 years. The interest rates for borrowers start from 8.5% p.a. It enables investors<br />
to directly invest in personal loans via a regulated investment product by buying units in the "DirectMoney<br />
Personal Loan Income Fund". DirectMoney Personal Loan Income Fund is a diversified portfolio of unsecured,<br />
fixed rate, personal loans made to borrowers located across Australia. The minimum investment amount for<br />
lenders is A$50,000. It also offers loans to small businesses.<br />
Enova [Chicago, 2003]: Enova provides real-time financial options for people facing immediate cash demands.<br />
As a global financial resource for under-served consumers, they operate a portfolio of businesses that offer a<br />
variety of online credit products and services to more than one million customers in the United States, United<br />
Kingdom, Australia and Canada. It uses proprietary technology and analytics to evaluate, underwrite and fund<br />
loans. It operates under various brands in different geographies such as CashNet USA, DollarsDirect, NetCredit,<br />
Headway Capital, Simplic, QuickQuid, Pounds to Pocket, On Stride Financial and Simple Credit.<br />
$0.5M<br />
$98k<br />
Horizontal<br />
PerPay [Philadelphia, 2014]: PerPay is a seed stage, financial wellness, lending and payment platform.<br />
presta [Espana, 2013]: T-Presta is an online lending platform for personal and business loans. It offers credit<br />
products for various purposes including debt consolidation, mortgage loan, emergency needs, renovation,<br />
business loans, loans to taxi drivers. It also offers Minicredit which offers unsecured loans of up to 600 € in under<br />
10 minutes.<br />
Horizontal<br />
25<br />
Alternative Lending Report, December 2015
Consumer Loans (3/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Horizontal<br />
LoanMeet [Bangalore, 2015]: Web platform for P2P lending for both personal and business loans. Benefits to<br />
lenders include loan documentation, payment schedule with reminders. Founded by an IIT Bombay graduate.<br />
Horizontal<br />
Money Auction [ , ]: Moneyauction is a Korean p2p lending platform. Moneyauction partnered with<br />
telecommunication carrier Korea Telecom and offers a mobile service allowing borrowers to apply for and lenders<br />
to bid on loans via their cell phone.<br />
LendingSquare Marketplace [Accra, 2013]: LendingSquare is a P2P lending platform that connects<br />
creditworthy borrows who want low cost loans with lenders who want good returns.<br />
Horizontal<br />
yiba.co [Johannesburg, 2013]: Yiba is a P2P lending marketplace in South Africa which connects borrowers<br />
directly with the investors.<br />
Horizontal<br />
Horizontal<br />
RainFin [Somerset West, 2010]: RainFin is an online lending platform for personal and business loans of upto<br />
R500,000 for a tenure of 1-4 years. It allows members to upload their loan application on the platform and<br />
withdraw the funds once investors have committed to 40% of their funding requirements. The platform allows<br />
individual and institutional investors to invest on its platform with a minimum investment of R100. It charges<br />
borrowers an initiation fee of 2.85% of the loan amount that is paid upon the issuance of the loan and charges<br />
lenders a service fee of 1.14% of the offered amount.<br />
26<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (4/71)<br />
Company Details Funding Investors<br />
Horizontal<br />
Finbee.com [Vilnius, 2015]: FinBee is a a peer-to-peer (P2P) lending and investment platform that connects<br />
those who want to borrow with those who are looking for diverse investment opportunities. Individuals who want<br />
to borrow money submit an application where they indicate desirable amount of money and credit term. FinBee<br />
team verifies credit rating of every individual applying for a loan. The interest rates are set by lenders who<br />
compete for lowest rate on the reverse auction model. Finbee itself invests 10% into each loan. After the<br />
application is fully funded, borrowers repay the loan on an annuity monthly basis. Lenders can withdraw the<br />
money or to reinvest in new applications.<br />
Personal Loans<br />
Elevate [Fort Worth, 2014]: Elevate provides online credit solutions to consumers. Its main products are: 1.Rise:<br />
Online installment loan.; 2.Sunny: Online short-term lender.; 3.Elastic: Line of credit for borrowers. Elevate was<br />
spun-off from Think Finance, the company providing analytics solutions to lending companies. Elevate raised<br />
$70M in debt financing from Victory Park Capital in August 2015 for its lending business.<br />
$70M Victory Park Capital<br />
Zaimionline [Russia, 2013]: zaimionline.ru provides online microloans to Russian citizens for making<br />
purchases. It claims to decide the issuance of loans in less than a minute.<br />
$0.3M<br />
Personal Loans<br />
Personal Loans<br />
Personal Loans<br />
CreditCircle Inc. [Salt Lake City, 2013]: CreditCircle helps lower borrowing costs dramatically and pay off debts<br />
faster. They offer sponsored loans to people with low credit rating. Sponsors are people from borrower's social<br />
network who have good credit, a steady job, and pay their bills on time. They can help you out by guaranteeing<br />
your loan with just their signature. In exchange, they can earn a fee. If they don’t want to guarantee the full loan<br />
amount, they can back you up with whatever amount they feel comfortable down to a minimum of $5,000.<br />
Borrower can have up to three Sponsors. The loan amount can vary from $5,000 to $15,000, subject to credit<br />
approval. They charge an origination fee of 6% of the amount borrowed or $249, whichever is higher.<br />
Argyle Legal Funding [Las Vegas, 2015]: Argyle Legal Funding provides injury loans to fill the need for quick<br />
cash while waiting for lawsuit to settle. The initial qualifying criteria is that the client must have hired an attorney<br />
on a contingency-fee agreement. The company handles all the legal loan documentation necessary for lawsuit<br />
loans directly with the lawyer.<br />
27<br />
Alternative Lending Report, December 2015
Consumer Loans (5/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans<br />
CoinTribe Technologies [Delhi, 2015]: CoinTribe Technologies is a lending marketplace for business and<br />
personal loans. As of October, 2015 they are yet to launch their operations.<br />
Personal Loans<br />
Finefectivo [Makati, 2011]: Finefectivo in Philippines is a subsidiary of the same parent company from Mexico. It<br />
is an alternate lending platform to working individuals based on their contract with their company. It claimed to<br />
help the Filipino prosper through ready access to credit.<br />
Personal Loans<br />
Saida [ , ]: Saida is an online lending platform which facilitates borrowing for users directly from their mobile<br />
phones. Borrowers sign up on the app and share the required data with the company. It then provides the loan<br />
amount and terms for which the borrower is eligible. Once the application is approved, the money is transferred<br />
to the borrower's mobile wallet. Saida is currently operating in Africa.<br />
Personal Loans<br />
Personal Loans<br />
Lendful [British Columbia, 2015]: Lendful provides an online lending marketplace for personal loans of up to<br />
$35,000. The platform requires the borrower to have a credit score of at least 690. Once the borrower has<br />
uploaded the application, Lendful uses online data and technology to assess risk, determine a credit rating and<br />
assign an appropriate interest rate to the borrower. Once the loan application is approved, the offer is sent to the<br />
borrower for consideration and, if accepted, the documentation is executed and money is disbursed.<br />
Enliven Financial [Vancouver, 2014]: WeEnliven is an online platform provider for alternative loans including<br />
personal and home equity loans. It offers fixed rate unsecured and secured personal loans of up to $10,000 for a<br />
loan tenure of 1-5 years. Providing collateral may improve chances of eligibility or cost of borrowing on the<br />
platform. It also provides home equity loans which allows the borrower to borrow up to $100,000 with a lien on<br />
equity in the home. The lien is removed when the loan is paid back. Home equity loans are for a tenure of 1-5<br />
years with a 360 month loan amortization period. Interest rates on the both the loans start from 14.99% APR. It<br />
charges an origination fee on secured loans but unsecured loans are free.<br />
28<br />
Alternative Lending Report, December 2015
Consumer Loans (6/71)<br />
Company Details Funding Investors<br />
Personal Loans<br />
Personal Loans<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Backed Inc. [New York City, 2014]: Backed is an online lending platform based in New York and Tel Aviv.<br />
Applicants are graded using predictive modelling and data mining techniques and are incentivised to submit<br />
additional information, verifications and references, grant access to online profiles and invite vouchers or cosigners<br />
to help them reduce their APR. It offers unsecured, fixed rate consumer loans ranging from $2,500 to<br />
$25,000, amortized at fixed instalments over 12, 24 or 36 months, which may be cosigned by up to 5 individuals.<br />
Euroloan [Helsinki, 2007]: Euroloan Consumer Finance is a provider of short-term financing for private<br />
customers. Its services include collection services, financial systems (solutions for online lending, payment<br />
processing, credit scoring), purchase of receivables, business financing, administrative services for offices,<br />
consumer finance services (such as virtual credit card) and accepting savings and deposits (license pending<br />
approval). It provides a fully automated, web-based service to different customer segments, offering maximum<br />
information about each segment. This information includes payment behaviour and payment disorders,<br />
price/demand elasticity and price/payment rate effects.<br />
Personal Loans -<br />
Direct Lender<br />
Personal Loans -<br />
Direct Lender<br />
Oportun (Previously Progreso Financiero) [Redwood City, 2005]: Oportun, formerly Progreso Financiero, is a<br />
financial institution focused on lower-income Hispanic families. Created in 2005 by CEO James Gutierrez,<br />
Oportun provides loans without collateral to clients who lack a credit history using a proprietary risk scoring<br />
system. Since its founding, it has made more than 195,000 loans, extending approximately $210m in capital to<br />
underserved Hispanic families and expanding to 69 locations across California and Texas.<br />
Mogo Finance Technology [Vancouver, 2006]: Mogo offers an online account with a free VISA reloadable<br />
prepaid card. Mogo offers loans to customers with not-so-good credit history, with a step-based interest rates<br />
which decreases as the customer levels up, enabling them to get out of debt sooner. Offers free credit scores to<br />
customers who borrow from Mogo. Lends upto Canadian $35,000 with rates starting from 5.9% (goes as high as<br />
~40%).<br />
$220M<br />
Greylock Partners, Great Oaks<br />
Venture, Peterson Ventures,<br />
Charles River Ventures, DAG<br />
Ventures, Silicon Valley Bank,<br />
Institutional Venture Partners, TPG,<br />
Fidelity Investments<br />
$200M Fortress Investment Group<br />
Personal Loans -<br />
Direct Lender<br />
Zestcash [Los Angeles, 2009]: ZestCash is a micro lending platform that offers installment based personal<br />
loans. The principal borrowed cannot exceed more than $800, the portal claims to offer an APR of 390%. The<br />
eligibility criteria is minimalist and requires a person to have a regular source of income, a qualified bank account,<br />
and an e-mail ID along with a valid telephone number. The processing of loans is usually quick and with most<br />
applicants finishing the procedure within 10 minutes or less. The platform is operational in 6 states of USA.<br />
$112M<br />
Lightspeed Venture Partners,<br />
Upfront Ventures, Flybridge<br />
Capital, Lighthouse Capital<br />
Partners, Victory Park Capital,<br />
Matrix Partners, Northgate Capital,<br />
Kensington Capital, Eastward<br />
Capital, Subtraction Capital<br />
29<br />
Alternative Lending Report, December 2015
Consumer Loans (7/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans<br />
- Direct Lender<br />
Personal Loans<br />
- Direct Lender<br />
Balance Credit [Irving, 2013]: Balance Credit provides unsecured fast personal loans to people with bad credit.<br />
The company is able to help customers across the credit spectrum gain access to loans as low as $100 and up to<br />
$3,000 with terms as long as 24 months. It also reports borrower's timely payments to a credit bureau, and which<br />
helps to improve their credit score over time.<br />
LendingPoint [Atlanta, 2014]: LendingPoint is an online direct lender that provides personal loans to people<br />
within 24 hours.The principal amount borrowed can range from $3,500 to $15,000, for a term no longer than 36<br />
months. The interest rates vary depending on factors such as amount borrowed, term length, and FICO scores of<br />
applicants. The APR of loans starts at 13.9%.<br />
$100M<br />
$100M<br />
Personal Loans<br />
- Direct Lender<br />
Nimble [Gold Coast, 2005]: Nimble provides short term loans of up to $1,600 which can be paid back over<br />
weeks. It charges 20% of the principal amount as the fee and 4% of principal amount per month as the interest<br />
charges. It also provides a prepaid Nimble Visa card which can be used to load funds independently or by<br />
directly receiving the nimble fund in the card.<br />
$18M<br />
Personal Loans<br />
- Direct Lender<br />
LoanNow [Santa Ana, 2013]: LoanNow is a direct lending platform that offers personal loans to the public. The<br />
platform offers a maximum principal amount of $10,000 which can be repaid in a term exceeding no longer than<br />
24 months. The typical APR on the platform ranges between 79-189%, though the figure varies on a case by<br />
case basis on applications. Unlike payday loans, credit taken from LoanNow can help increase the FICO scores<br />
of the borrower.<br />
$6M<br />
Personal Loans<br />
- Direct Lender<br />
Argon Credit [Ridge, 2014]: Argon Credit is an alternate funding platform for personal loans. The principal<br />
amount of the loan can range from $1,000 to $20,000, with interest rates that vary according to several factors,<br />
including the state in which the borrower resides. The interests are monthly, and there is no prepayment charge.<br />
There is however a late fee and a delinquent fee, depending on the nature of the delay in repayments.<br />
Repayments are calculated using a simple interest amortization schedule.<br />
$5.1M<br />
Merit Management Group, LP<br />
30<br />
Alternative Lending Report, December 2015
Consumer Loans (8/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
Direct Lender<br />
Personal Loans -<br />
Direct Lender<br />
Cumulus Funding [Chicago, 2011]: Cumulus Funding provides personal loans to borrowers for an amount up<br />
to $10,000 USD. However, instead of structuring the loan to be serviced by periodic repayments, the platform<br />
structures the repayments as a percentage of the borrower's income. The income-share loan term can be spread<br />
across for a maximum of 6 years. Screening criteria for applications includes income, creditworthiness,<br />
occupation, location, etc.<br />
Float [Lexington, 2011]: Float Money is an online lender which offers credit line to consumers based on their<br />
average shopping amount on its website. Consumers shop on Float's website or purchase gift-cards to be used<br />
in-store. Float then records the consumer's average spending amount and allots a line of credit to the consumer<br />
based on the amount, with the minimum amount being US$200. Consumer can withdraw this credit line to the<br />
bank account and pay it down over time. The loan does not incur any interest and is free of any fee or charge.<br />
$0.9M<br />
$0.6M<br />
MYJAR [Salford, 2009]: MYJAR is a direct lender which offers short term loans of up to £500 to £1000 for a<br />
periods of 1, 3, 6 and 12 months.<br />
Personal Loans -<br />
Direct Lender<br />
Different Money [Knutsford, 2014]: Different Money provides short term loans of £150-£2,500 for 2-12 months.<br />
Once the application is accepted and confirmed, the amount is directly transferred to the bank account. Different<br />
Money interest rates vary from 0.8% per day to 0.34% per day depending upon the length of your short term loan.<br />
Personal Loans -<br />
Direct Lender<br />
Personal Loans -<br />
Direct Lender<br />
Wizzcash [London, 2012]: Wizzcash is a direct lender which offers short term unsecured loans from £200 to<br />
£1,000 that are repaid over 3 months. It also offers installment loans for 12 month period.<br />
31<br />
Alternative Lending Report, December 2015
Consumer Loans (9/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
Direct Lender<br />
Peachy [London, ]: Peachy.co.uk is a trademark of Cash On Go Ltd based in Manchester. Peachy is a online<br />
direct lender which offers short term loans from £50-£700 for 15 days to 12 months.<br />
Personal Loans -<br />
Direct Lender<br />
Crefisa [ , 1964]: Crefisa offers personal loans to retirees, pensioners and civil servents. It has over 800 points of<br />
service in all states of Brazil and claims to have served 1.5 million customers.<br />
Personal Loans -<br />
Direct Lender<br />
Skyline Direct [Belfast, 2009]: Skyline Direct is an online provider of short term loans. First time borrowers can<br />
borrow up to £200 and returning customers up to £1,000. It offers cash loans, high street vouchers and pre paid<br />
hampers which can be paid back weekly<br />
Personal Loans -<br />
Direct Lender<br />
Sunny [London, 2013]: Sunny offers fixed sum installment loans from £100 to £2,500. The company offers two<br />
products, Sunny and Sunny Plus. It offers installment loans of up to £2,500 for a tenure of up to 14 months and is<br />
a high-cost, short term credit provider. The interest rate is capped at 0.8% per day.<br />
Personal Loans -<br />
Direct Lender<br />
Buddy Loans [Cheadle Hulme, 2014]: Buddy Loans is a provider of unsecured personal loans. It provides<br />
medium term loans between £1,000 - £7,500 over a period of 1 - 5 years which can be used to clear existing<br />
debts, make home improvements, vehicle upgrade or pay for a holiday. The loans are backed by a guarantor<br />
who agrees to take over payments in case of borrower default.<br />
32<br />
Alternative Lending Report, December 2015
Consumer Loans (10/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
Direct Lender<br />
Bamboo Loans Ltd [Southampton, 2014]: Bamboo Loans is an online platform offering consumer loans to<br />
individuals in UK. It lends between £1,000 to £5,000 for a loan tenure of 1-5 years. It offers various types of loan<br />
products such as Guarantor Loans, Unsecured Loans, bad Credit Loans, Wedding Loans, Car Loans and Home<br />
Improvement Loans. Bamboo Finance is a direct lender.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Personal Loans -<br />
Direct Lender<br />
Satsuma Loans [Bradford, 2013]: Satsuma provides short term loans to consumers of up to £1,000 for a time<br />
period of 13-52 weeks. Returning customers can borrow up to £2,000 per transaction. Repayment can be done in<br />
periodic payments as agreed upon by the borrower and the company.<br />
Personal Loans -<br />
Direct Lender<br />
Personal Loans -<br />
Direct Lender<br />
Personal Loans -<br />
Direct Lender<br />
ALMFunding.com [Saint Louis, 2014]: ALM Funding is a sub-prime lending company providing installment,<br />
personal, payday and signature loans. Its instalment loans can be borrowed for up to $5,000. It also facilitates<br />
bad credit and short term loans.<br />
Good 2 Go Loans [New South Wales, ]: Good2Go Loans provides financing products to consumers including<br />
cash loans, car loans, business loans and personal loans. The details of the products are as follows: 1.Cash<br />
Loans: $500 to $5,000 for 4 weeks to 2 years.; 2.Car Loans: $3,000 to $30,000 for 1 year to 7 years,; 3.Personal:<br />
$3,000 to $30,000 for 4 weeks to 5 years.;4.Business loans: 14 days to 5 years. The repayment options for the<br />
loans can either be weekly, fortnightly, monthly or another suitable arrangement as agreed. The process for the<br />
loan application is fairly simple: A borrower upload the application form, relevant verification documents, and gets<br />
the electronic bank transactions verified. Once the documents and transactions have been verified, the company<br />
deposits the money directly in borrower's account.<br />
Piggy Bank Loans [Christchurch, 2011]: PiggyBank is an online lender of short term and instalment loans. It<br />
offers short term pay-day loans of up to £400 for a loan tenure of up to 35 days for first time borrowers and up to<br />
£1,000 for returning customers. It offers instalment loans between £100-£400 for a duration of up to 5 months for<br />
first-time borrowers and up to £1,500 for returning customers. Its security partners, to verify the credit history of<br />
the person, include CIFAS, GeoTrust, Callcredit and security metrics.<br />
33<br />
Alternative Lending Report, December 2015
Consumer Loans (11/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
Direct Lender<br />
Personal Loans -<br />
B2C<br />
Personal Loans -<br />
B2C<br />
Personal Loans -<br />
B2C<br />
Personal Loans -<br />
B2C<br />
Check Into Cash [Cleveland, 1993]: Check Into Cash Online is an alternate lending platform that provides cash<br />
advances, pay day loans, and title backed loans to the public. The loan application is both online and offline, with<br />
title loans for vehicles requiring a physical appraisal of the asset. The platform also offers services such as check<br />
cashing, bill payments and top ups for cell phones.<br />
Kreditech Holding SSL GmbH [Hamburg, 2012]: Kreditech is a German online lender which offers loans to<br />
individuals based on their creditworthiness which is analyzed using their online data instead of using traditional<br />
credit rating information. The creditworthiness of a user is determined in less than a minute based on up to 8,000<br />
data points and the loan is directly issued. Kreditech currently offers its services in Poland, Spain, Russia, the<br />
Czech Republic, and Mexico. All national platforms are operated by the international team, which currently<br />
consists of over 75 employees from 18 countries, from its headquarters in Hamburg. Has raised $15M in debt<br />
from Kreos Capital so far.<br />
Vouch [San Francisco, 2013]: Vouch is an alternate lending platform that secures every loan by using the<br />
borrower's network as sponsors of the loan. A borrower has to get a 'qualified' sponsor to receive a loan, the<br />
more sponsors he can get on-board his application, the easier his loan terms shall be. There are two types of<br />
loan products on offer, one being where the principal borrowed is under $1,500 and the other where the amount<br />
is over $2,000. In the case of the former, the more sponsor a borrower on-boards, the higher his borrowing<br />
capacity rises, whereas in the case of the latter, sponsor on-boarding results in a reduction of percentage points<br />
from the interest rate of the loan. Sponsors need to be qualified by meeting the screening criteria of Vouch. In<br />
the case of a default, the sponsors repay Vouch for the loan.<br />
Loanz [Irvine, 2013]: Loanz is an online provider of personal loans. It offers fixed rate, unsecured personal loans<br />
in the range of $5,000 to $35,000 with a tenor of up to 3 years and interest rate between 6.25% and 28.65%. It<br />
also offers on-ramp personal loans which are offered to people with insufficient credit history. These loans are in<br />
the range of $5,000 to $20,000 with interest rates between 11.25% and 26.85%. However on-ramp personal<br />
loans require the borrower to also have a co-signer attached to the loan who should have a credit score of<br />
minimum 660 and liquid assets between 2-5 time the loan amount. Loanz started operating in January 2015. All<br />
loans on the platform are made by Cross River Bank, a federally insured, New Jersey commercial bank.<br />
Sploor [London, 2015]: Sploor is an app that offers travel loans. Customers can book travel with Sploor.com<br />
and pay for it over 12 months using consumer finance, instead of paying for it all before the trip. Sploor doesn't<br />
hold any of the risk associated with the lending. This is because we have a third party lender who will provide the<br />
credit check and the finance. The average interest rate will be 7.5% APR.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
$140M<br />
$9M<br />
$2M<br />
Blumberg Capital, Point Nine<br />
Capital, Digital Pioneers, Varde<br />
Partners, Inc., HPE Growth Capital,<br />
Amadeus Capital Partners, J.C.<br />
Flowers & Co., Victory Park<br />
Capital, Global Founders Capital<br />
Cooley LLP, Data Collective, IDG<br />
Ventures India, First Round<br />
Capital, Core Innovation Capital,<br />
Greylock Partners, IDG Capital<br />
Partners<br />
34<br />
Alternative Lending Report, December 2015
Consumer Loans (12/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
B2C<br />
Personal Loans -<br />
B2C<br />
Fig Loans [Houston, ]: Fig Loans provides short term loans to individuals from $300 to $750 for a loan tenure of<br />
4-6 months. The repayment is reported to credit agencies to help build borrower's credit history.<br />
Elastic [Arlington, 2001]: Elastic provides an unsecured line of credit to consumers for unexpected needs such<br />
as medical bills, auto repairs and utility bill payment. Upon approval, the borrower will receive a $500 to $3,500<br />
credit line and can borrow up to the credit limit at any time. The Elastic line of credit is offered by Republic Bank<br />
& Trust Company.<br />
Personal Loans -<br />
B2C<br />
Personal Loans -<br />
B2C<br />
Freedom Plus [San Mateo, 2002]: Freedom Plus is an alternate lender providing personal loans of up to<br />
US$35,000 for a tenure of 2-5 years. The loans can be used for various needs such as debt consolidation, home<br />
improvements, wedding, purchases and medical expenses. It provides same day approval with money transfer in<br />
24 hours. Its interest rates vary between 7.5% and 27% with an origination fee of up to 5%. It is a part of<br />
Freedom Financial Asset Management and the loans are provided by Cross River Bank.<br />
Pave [New York City, 2012]: Pave is a P2P lending marketplace for accredited investors to lend to borrowers<br />
who are looking for an easier access to credit than available from traditional sources. The platform has been<br />
used extensively by students looking for credit, however it poses no restrictions on non-students for applying to<br />
the portal. The loan principal can range from $3,000 to $25,000 with a term that cannot exceed 3 years. The<br />
platform charges a servicing fee as well as fee for late repayments. Pave has partnered with Prosper.com to<br />
provide its service across USA. All the loans are made by Cross River Bank, a federally insured, New Jersey<br />
commercial bank.<br />
Personal Loans -<br />
B2C<br />
Karrot [Atlanta, 2015]: Karrot is an alternate credit source for personal loans. The principal amount lent can rise<br />
up to $35,000 with an investment term of 60 months at best. The portal charges a fee in the case of a late<br />
installments, there are no fees levied for prepayment. The interest rates charged by the platform start from 6.4%<br />
to 29.9%. All Karrot personal loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC.<br />
35<br />
Alternative Lending Report, December 2015
Consumer Loans (13/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
B2C Marketplace<br />
Personal Loans -<br />
B2C Marketplace<br />
Personal Loans -<br />
B2C Marketplace<br />
Personal Loans -<br />
B2C Marketplace<br />
Personal Loans -<br />
B2C Marketplace<br />
Avant [Chicago, 2012]: Avant is an online personal lending platform. It screens applications borrowers on the<br />
basis of FICO scores. The amount of principal lent is arrived at by taking into account income levels, credit history<br />
scores, and other criterias. Avant operates in 46 U.S. states and in the United Kingdom under the brand<br />
SpringCoin.com. Avant Institutional Marketplace enables qualified institutional investors the ability to purchase<br />
loans originated through the Avant technology platform. Has raised more than $1B in debt. The platform has lent<br />
upto a billion dollars between 200,000 borrowers.<br />
Upstart [Palo Alto, 2012]: Upstart is an online lending platform that goes beyond the FICO score to finance<br />
people based on signals of their potential, including schools attended, area of study, academic performance, and<br />
work history. Their proprietary underwriting model identifies high quality borrowers despite limited credit and<br />
employment experience. In return, the borrowers share a small percentage of their income with their backers for<br />
the next 10 years.<br />
SocietyOne [Sydney, 2011]: SocietyOne is an Australian P2P lending platform. It enables individuals to borrow<br />
money from wholesale investors without the intermediation of a bank or financial institution. Qualified borrowers<br />
can request up to $35,000 in unsecured personal loans at rates determined by their credit history. Approved<br />
applications are listed on the platform for verified investors to assess and bid on. Once terms are agreed and<br />
accepted by the parties, SocietyOne handles the funds management and servicing of every loan on behalf of the<br />
matched borrowers and investors. SocietyOne is fully compliant with National Consumer Credit Protection Laws<br />
and the Australian Securities & Investments Commission’s (ASIC) financial services laws.<br />
CircleBack Lending [Boca Raton, 2012]: CircleBack Lending is an online marketplace for loans. Borrowers can<br />
apply for loans, while institutional and accredited investors can purchase loans displayed on the portal. Circle<br />
Back Lending has recently tied up with Jefferies for a $500 million consumer loan sale program. Jefferies aims to<br />
leverage its expertise in the securitization market to structure securities backed by CircleBack-generated assets<br />
that can be rated by agencies like S&P and Fitch, and then be sold to a wide array of fixed income investors,<br />
including insurance companies. The portal charges several types of fee to borrowers upon conditions of<br />
origination, late payment, failed payment, and others.<br />
Grow Financial [Vancouver, 2014]: Grouplend is an online provider of unsecured personal loans. It offers loans<br />
of up to $30,000 for 3 years at an interest rate that varies between 6.3% to 17.5%. It requires the borrower to be a<br />
Canadian citizen with a 3 year credit history, a minimum FICO score of 690 and permanent employment with a<br />
minimum gross salary of $30,000. In November 2015, GroupLend re-branded to Grow Financial.<br />
$635M<br />
$53.2M<br />
$29M<br />
$22M<br />
$10.2M<br />
August Capital, Victory Park<br />
Capital, QED Investors, Tiger<br />
Global, Draper Fisher Jurvetson<br />
(DFJ), RRE Ventures, Kohlberg<br />
Kravis Roberts, JPMorgan Chase<br />
& Co., DFJ Growth, Jefferies Group<br />
CrunchFund, Kleiner Perkins<br />
Caufield & Byers, New Enterprise<br />
Associates, Google Ventures, First<br />
Round Capital, Founders Fund,<br />
Khosla Ventures, Collaborative<br />
Fund, Third Point, LLC<br />
News on News, Global Founders<br />
Capital<br />
36<br />
Alternative Lending Report, December 2015
Consumer Loans (14/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
B2C Marketplace<br />
Personal Loans -<br />
B2C Marketplace<br />
Borrowell [Toronto, 2014]: Borrowell is a Canadian online marketplace that brings together institutional<br />
investors and borrowers looking for loans. Loans can be granted to small businesses, as well as individuals for a<br />
term not exceeding 5 years. The principal amount lent can rise up to $35,000 with the portal offering fixed interest<br />
rates and no prepayment penalties. The portal charges a one-time origination fee to borrowers other than the<br />
interest on the amount borrowed. Borrowell has lent over $50 million dollars to applicants.<br />
BankFacil [Sao Paulo, 2012]: BankFacil is an online lending platform that provides secured loans to individuals<br />
with real estate or automobiles as collateral. It facilitates the lending process by originating the loans from<br />
financial institutions from which it also charges a commission for every transaction. The time required for the<br />
loans depends on the collateral offered and is usually shorter for the car and longer if real estate is offered as the<br />
collateral. Apart from loans, the company also offers, payment cards, insurance and investment products.<br />
$5M<br />
$4.4M<br />
Napkn Ventures, Jakub Havrlant,<br />
Accion, Redpoint eVentures<br />
Personal Loans -<br />
B2C Marketplace<br />
Personal Loans -<br />
B2C Marketplace<br />
Afluenta [Buenos Aires, 2010]: Afluenta is the first P2P lending network in Latin America. It allows people to<br />
borrow up to $75,000 for a loan tenure spanning a maximum of 48 months. The company allows the borrowers<br />
to keep their lending request open for 10 days or till they achieve 100% funding, whichever is earlier. The interest<br />
rates on the loans depend on the credit rating assigned to the borrower by the company from A,B,C,D,E and it<br />
charges an origination fee between 2.5%-6% of the total loan amount. For investors it has three investment<br />
categories: Investor 1.0 (investment amount is less than $5,000 and fund up to 4% of the total loan amount),<br />
Investor Plus (investment amount of up to $100,000 and fund up to 20% of total loan amount) and Institutional<br />
investors (investment amount is more than $100,000 and can fund up to 100% of total loan amount). The rate of<br />
returns vary between 32% and 48% depending upon the investment horizon. Afluenta also hosts a marketplace<br />
for trading of loan notes between investors.<br />
IndiaLends [Delhi, 2014]: Online platform connecting borrowers and institutional lenders for low rate loans. It<br />
uses a proprietary algorithm that aggregates information from a large number of data sources like the credit<br />
bureau, the application form, social networks. Also provides value-add services such as big-data analytics, credit<br />
risk assessment and verification and automated work-flows for loan origination and management. Founding team<br />
comprises of IIT and London Business School alumni. Has processed 1,500+ applications, and disbursed about<br />
INR 2 crore in loans as of July, 2015. Has raised funding from DSG Consumer Partners, Siddharth Parekh and<br />
Gautham Radhakrishnan, Partner at Tata Opportunities Fund.<br />
$3M NXTP Labs<br />
$1M DSG Consumer Partners<br />
37<br />
Alternative Lending Report, December 2015
Consumer Loans (15/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
B2C Marketplace<br />
Kredit Konnection [Mumbai, 2015]: Kredit Konnection is an online marketplace which connects borrowers to<br />
financial institutions. Suggests interest rate based on borrowers profile and loan requirements. Offers doorstep<br />
collection of documents to borrowers. Loan amount borrowed can range from 20,000 to 5,00,000 and tenure can<br />
vary from 6 Months to 3 years. Kredit Konnection will make identity, fraud and credit checks of Borrower.<br />
Supports EMI payments through ECS and post-dated cheques for the tenure of the loan.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Personal Loans -<br />
B2C Marketplace<br />
Personal Loans -<br />
B2C Marketplace<br />
Happy Rupee [Hyderabad, 2015]: Happy Rupee is an online platform which allows users to apply and get short<br />
term loans in one day. The platform claims to tie up with NBFC who lend money to customers through the<br />
platform. It is upgrading its technology as of August 2015.<br />
Instaloans [Bangalore, 2015]: Instaloans is a platform which claims to let the users know the approved amount<br />
of loan within three minutes and after 24 hours, the money will be with with the users. It also claims to have no<br />
high interest rates. They also have tied up with various Indian banks and financial institutions. After taking the<br />
loan, the user will have complete transparency and control over loan management, through the technology.<br />
Currently under development as of September 2015.<br />
Personal Loans -<br />
B2C Marketplace<br />
Kountmoney [Bangalore, 2015]: KountMoney is a platform which matches investors with credible salaried<br />
borrowers in India. Borrowers are certified by the company through tie-ups with credit rating agencies and loan<br />
recovery agencies. Claims to get investors higher returns and borrowers lesser rates than credit cards. Yet to be<br />
launched.<br />
Personal Loans -<br />
B2C Marketplace<br />
Geru [Sao Paulo, 2014]: Geru is a online lending platform in Brazil. It is a correspondent of the Banco AndBank<br />
(Brasil) S.A and own an online platform that facilitates customer access to products and services offered by<br />
accredited financial institutions on the platform.<br />
38<br />
Alternative Lending Report, December 2015
Consumer Loans (16/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
B2C Marketplace<br />
Kuvaa [London, 2014]: Kuvaa is a P2P lending platform. It provides companies, banks and institutions of all<br />
sizes a compliant solution to rapidly deploy a secure way for the investors and the borrowers to transact online.<br />
As of October, 2015 the platform is still in development phase.<br />
Personal Loans -<br />
B2C Marketplace<br />
Personal Loans -<br />
B2C Marketplace<br />
Lendable [London, 2014]: Lendable is an online lending platform. Borrowers request a quote from the platform<br />
and if they accept the quote, the amount is deposited in their bank account within 2 hours (as they claim). Only<br />
institutional and sophisticated investors can invest on the platform.<br />
BorrowersFirst [New York City, 2013]: Borrowers First offers personal loans from $2,500 to $35,000, amortized<br />
over 3 to 5 years with interest rates ranging from 5.99% to 26.99% per year. It has institutional lenders lending on<br />
the platform and the loans are unsecured personal loans made by Cross River Bank, a New Jersey chartered<br />
bank, member FDIC.<br />
Personal Loans -<br />
B2C Marketplace<br />
Loan Solutions [Cebu City, 2013]: LoanSolutions is an online lending marketplace and lead generation<br />
platform for a range of financing products such as personal loans, home loans, vehicle loans and business loans.<br />
It has tied up with lenders who originate and disburse the loans on the platform to borrowers. Its algorithms<br />
match the borrowers with the lenders and gives them the choice of proceeding with the lender based on their<br />
preferences.<br />
Kickstart Ventures<br />
Personal Loans -<br />
B2C Marketplace<br />
Airzolo [San Francisco, 2014]: Airzolo provides an online marketplace that provides P2P lending for travel<br />
financing. It allows the user to upload their details on the platform to get an interest rate for the loan. Once the<br />
user accepts the terms, the platform matches the user with investors who would like to commit to the loan<br />
account. Once the loan account is fully committed the listing is closed and the amount is transferred to the user's<br />
account in 24-48 hours.<br />
39<br />
Alternative Lending Report, December 2015
Consumer Loans (17/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
B2C Marketplace<br />
LendStreet [Sunnyvale, 2010]: LendStreet is an online platform that allows people to refinance their existing<br />
debts at potentially cheaper rates than the existing rates. It currently only allows accredited investors to invest on<br />
its platform by invitation. As of July 2015, the company is operating in beta mode and is only allowing loan<br />
application on its platform by invitation.<br />
CrunchFund, Kapor Capital<br />
Personal Loans -<br />
B2C Marketplace<br />
Lendrise [Palo Alto, 2014]: Lendrise is a cross border P2P lending platform that allows American investors to<br />
commit funding to E.U. consumer loans. It allows retail investors, banks and institutional investors to lend money<br />
to the borrowers on its platform. Lendrise release an app called ScoreWise which educates users in Romania<br />
about credit score and how to maintain it for better lending probability. As of July 2015, the company is still in<br />
development mode.<br />
Personal Loans -<br />
B2C Marketplace<br />
engageloans [Westwood, 2012]: Engage Loans is an online lending company providing personal loans to<br />
consumers. Its product line includes payday loans, personal loans, installment loans and title loans It allows<br />
people to borrow loans between $100 and $15,000. Engage loans is not a direct lender and facilitates loans<br />
through a network of lenders .<br />
Personal Loans -<br />
P2P Marketplace<br />
Auxmoney [Dusseldorf, 2007]: Auxmoney is an online lending platform facilitating P2P loans. It allows private<br />
consumers to borrow from private investors for personal loans between €1k and €20k.<br />
$198.2M<br />
Index Ventures, Union Square<br />
Ventures, Foundation Capital,<br />
Partech Ventures<br />
40<br />
Alternative Lending Report, December 2015
Consumer Loans (18/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Zopa [London, 2005]: Zopa is a P2P money lending service that allows lenders and borrowers to deal directly<br />
with one another, cutting out the banks who act as middlemen. Zopa takes on such responsibilities as distributing<br />
money between parties, completing the legal paperwork, performing borrower identity/credit checks, and<br />
employing a collections agency that chases missed payments for the lender. Zopa also mitigates risk for lenders<br />
by enforcing monthly direct debit repayment, making borrowers sign a legal contract, and allowing lenders to lend<br />
small chunks of money to individual borrowers. The company itself makes money by charging a fixed fee for<br />
borrowers and 1% annual fee for lenders. Has so far made lending of more than $1B. Has more than 60k<br />
investors using their service.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
$58.3M<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Prêt d’Union [Issy-les-Moulineaux, 2009]: PRET d’UNION S.A. is an online lending platform for P2P lending.<br />
The company allows individuals and organizations to act as lenders and individuals as borrowers. It offers five<br />
classes of return-based loans having tenor between 2 to 5 years and returns between 4% and 10%. It is certified<br />
as a “credit institution and investment service provider” by the French Prudential Supervisory Authority.<br />
RateSetter [London, 2010]: RateSetter is a peer-to-peer (P2P) lending exchange, allowing people to lend and<br />
borrow money directly with each other, setting their own interest rates and terms. For borrowers there are no<br />
penalties for early repayment of a loan. Savers can invest as little as £100 and borrowers can get loans of up to<br />
£25,000. RateSetter also provides commercial loans that start at a principal upward of £25,000.<br />
isePankur [Tallinn, 2008]: isePankur is a P2P lending service in Scandinavia and the Baltics, providing a<br />
platform for borrowers and investors in a way that lets the former get easy access to affordable credit and the<br />
latter to earn a higher return on their capital. The platform provides bank-like security and a simple application<br />
process. The company has over 18,000 clients from 28 different countries across Europe. isePankur has been<br />
acknowledged as the “Best Estonian E-service of 2011”, quarter-finalist at the World Summit Awards of 2011 and<br />
named as a top 5 P2P lending company in Europe by the Forbes magazine.<br />
$38.7M<br />
$6.6M<br />
$52.4M<br />
Woodford Investment<br />
Management, Artemis Investment<br />
Management<br />
Personal Loans -<br />
P2P Marketplace<br />
Bondora [Tallinn, 2008]: Bondora is a P2P lending platform for unsecured personal loans. The platform claims<br />
to have 9000+ investors from 37 countries and 100,000 borrowers in 3 countries.<br />
$5.9M<br />
41<br />
Alternative Lending Report, December 2015
Consumer Loans (19/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
BLender [Ramat Gan, 2014]: Blender is a multinational online P2P lending platform in Israel. It differentiates<br />
itself from its peers by using proprietary technology for portfolio management, risk assessment and automated<br />
investment. These technology products are: 1. Rating 2.0: Performs automated borrower risk assessment checks<br />
based on big data, financial, statistical, and social parameters; 2. Direct Match: A portfolio builder, which spreads<br />
the lender’s money over a large diversity of loans and creates a unique loan portfolio for each of the lenders<br />
based on real-time market conditions.; 3. Safeguard Fund: An accrued fund that is used in case of borrower<br />
default.; 4. Premium Track: An auto-investment solution that assists long-term investors. BLender is currently<br />
active in Israel and is planning to expand in other markets.<br />
Lending Works [London, 2012]: Lending Works is an online lending platform facilitating P2P personal loans.<br />
On Lending Works, borrowers can raise an amount up to GBP 25,000 for a term no longer than 5 years. The<br />
money received from lenders is diversified and used to fund the loans of several borrowers, thereby mitigating<br />
risk.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
$5M Blumberg Capital<br />
$5M<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Comunitae [Madrid, 2008]: Comunitae is a Spanish P2P lending platform. Investors can participate in the<br />
financing of working capital for businesses and consumer operations with individuals. Individuals can participate<br />
in each of these operations with contributions from a minimum of €50 and a maximum of €5,000.<br />
Kubo Financiero [Mexico, 2012]: Kubo.financiero is a regulated micro finance institution that provides loans to<br />
borrowers in Mexico. Its loan offerings range between $400 to $4,100 for various reasons like working capital,<br />
fixed assets, education fees and supplies, and pre-payment for other loans that have higher interest rates. It<br />
charges the borrowers interest rates between 22% and 50%, depending on the borrower’s risk profile. Interest is<br />
charged on declining principal, with no collateral required, and the organization charges a small 3% to 5% service<br />
fee to cover administration costs of small loans in remote areas.<br />
$5M<br />
$4.1M<br />
Alta Ventures Mexico<br />
Personal Loans -<br />
P2P Marketplace<br />
Lendify [Stockholm, 2014]: Lendify is Sweden based marketplace for loans between private individuals. It<br />
operates a marketplace online credit platform that enables its borrowers to borrow money and its lenders to lend<br />
money directly to the borrower – without the involvement of banks or credit card companies.<br />
$3.8M<br />
42<br />
Alternative Lending Report, December 2015
Consumer Loans (20/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Peerform [New York City, 2010]: Peerform is an online P2P lending platform that connects people who want to<br />
borrow money with investors. Peerform provides 3-year terms personal loans ranging from $1,000 to $25,000<br />
online. Borrowers create listings for a fixed-rate personal loan and are then funded by investors who chose their<br />
target return and build their portfolios. Peerform offers investors a new asset class with which they can diversify<br />
and optimize their portfolio. Gregg M. Schoenberg, the founder of Wescott Capital, an early stage investor in<br />
Fintech companies, leading the company’s board of directors as as Executive Chairman.<br />
Fingooroo [Moskovskiy, 2013]: Fingooroo allows borrowers and lenders to lend and borrow online. Citizen of<br />
any country, microfinance institution or a bank can be the lender at the service. Fingooroo accompanies the<br />
entire transaction process from the initial verification of the borrower to collection services. Requirements for<br />
borrowers are very strict and validation is based on its own scoring model. Monetization of Fingooroo is the<br />
commission for the issuance of the loan and additional services. It was admitted as the best start up project of<br />
2014 in fin tech area at FinNext forum www.finnext.ru.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
$2.9M<br />
$1.5M<br />
Maxfield Capital<br />
Personal Loans -<br />
P2P Marketplace<br />
Prestiamoci [Ivrea, 2007]: Prestiamoci is an Italy-based P2P lending platform which allows individuals to make<br />
investments and to obtain loans. Loans are given people to trustworthy people who want to achieve their life<br />
projects, grow their professional activity, better manage expenses and major purchases.<br />
$1.3M<br />
Digital Magics<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Prestadero [Mexico City, 2011]: Prestadero is an online lending platform for facilitating P2P loans in Mexico. On<br />
the platform, members can invest upwards of 250 pesos in one loan and diversify their loan portfolio across<br />
various offerings. The interest rates vary on the loans from 8.9% to 28.9% annually.<br />
Ledge [Santa Monica, 2013]: Ledge is a mobile P2P lending platform that empowers individuals to crowdfund<br />
personal loans for creative projects and large expenses from their extended social network. It allows borrowers to<br />
borrow up to $5000 on his own terms and automate repayments to lenders through Venmo over up to 24<br />
months.Borrowing through Ledge involves creating a campaign, setting the terms, and sharing it with friends<br />
through the apps used everyday. Friends can pledge money to campaign without downloading the app, and they<br />
are only charged when the campaign goal is reached. Pledges are automatically transferred to Venmo account of<br />
borrower once he goal is reached. Ledge keeps track of the loan balance and repayment is automatic.<br />
$1.1M<br />
$0.9M<br />
43<br />
Alternative Lending Report, December 2015
Consumer Loans (21/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
FriendsClear [Paris, 2007]: FriendsClear is peer-to-peer lending French platform. FriendsClear connects via the<br />
Internet, those in need of financing with individuals willing to invest their money differently.<br />
ZankSpain [Valencia, 2013]: Zank provides an online P2P lending platform allowing people to borrow between<br />
€1,000 and €10,000 and a loan tenure of 6-48 months. Zank verifies the data published by the borrower on the<br />
platform and classifies it in risk categories (A,B,C,D) based on income, loan repayment history and<br />
demographics. Borrowers can withdraw the loan amount once their account has been funded at least 80% of the<br />
required loan amount. Investors can either lend manually on the platform or enter their preferences for automated<br />
lending on their behalf based on their risk appetite. Investors can lend between €50 and €1,000 on the platform.<br />
$0.6M<br />
$0.5M<br />
Plug & Play Ventures<br />
Personal Loans -<br />
P2P Marketplace<br />
eMoneyUnion [Cheshire, 2013]: eMoneyUnion is a peer to peer lending platform for those seeking affordable<br />
loans & savers/investors seeking better rates. They provide individuals with spare savings, the opportunity<br />
to become personal lenders to screened and profiled borrowers. If the borrower has a very low credit score, they<br />
will need to obtain the backing of a high credit score personal guarantor, to boost their chance of obtaining a loan<br />
on the platform. Loans available from £2,000 to £500,000.<br />
$0.5M<br />
Personal Loans -<br />
P2P Marketplace<br />
Yattos [San Francisco, 2012]: Yattos is an online social networking based P2P lender. It lets users organize<br />
social funding circles using Facebook account and enables them to invite trusted friends, family and peers to this<br />
circle. Every member of the group contributes a fixed monthly amount to the app and the contributions are given<br />
to the members based on their order of joining the circle. A member can also set the month they need the funds<br />
in and the contribution will be transferred to their account in the required month. It also allows people to create<br />
their loan request and invite friends and family to join the circle and make the contributions to the same. The loan<br />
can then be repaid in pre-determined months without any interest charges. Using Yattos, people can also raise<br />
funds, for a particular cause they support, from their family and friends by inviting them to the circle.<br />
$0.4M<br />
44<br />
Alternative Lending Report, December 2015
Consumer Loans (22/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Faircent [Gurgaon, 2013]: Faircent offers a P2P lending platform that serves as a marketplace for borrowers<br />
and lenders to interact directly. Users who register on the platform to become a lender/borrower undergo a<br />
detailed verification process post which borrowers can post their requirements for loans along with details of<br />
reason for the money, loan period and target interest rate. Lenders can individually make offers to borrowers,<br />
which the borrower can accept or refuse. Offers are defined in terms of amount to be lent and the applicable<br />
interest rate. Both lenders and borrowers can interact and make transactions with multiple people. The company<br />
does not take payment cut from EMI and only charges upfront fee once a deal is finalized for the facilitating<br />
process. Raised capital round led by couple of investors from the micro finance industry in Jan 2015. Will be soon<br />
launching a mobile app along with an investor education initiative. Raised Pre-Series A funding from M & S<br />
Partners in June, 2015 which valued the company at $8M. It has signed up a deal with TransUnion for real time<br />
credit appraisal.<br />
iLend [Hyderabad, 2012]: i-lend.in is an online marketplace launched by Dipamkara Web Ventures Private<br />
Limited that brings together creditworthy borrowers and individual lenders for a personal loan transaction without<br />
the intervention of traditional financial institutions like banks. Borrowers can apply for small loans between Rs.25k<br />
- Rs.1L for 6 Months or 12 month period. The interest rates vary between 12% - 24%, much lower than financial<br />
institutions. Borrowers can register with i-lend and put up their loan requirement on the site. Each borrower will<br />
have a page where they will provide information such as purpose of loan, why lenders should lend to them,<br />
financial status, education qualification, employers, hobbies, interests etc. that help lenders know more about<br />
borrowers followed by a stringent verification process of their details. i-lend also minimizes the lender risk by<br />
allowing a lender to lend only a part of a borrower’s loan requirement and involve multiple lenders.<br />
$0.3M<br />
$0.1M<br />
Fusion Microfinance, M&S Capital<br />
Partners, Aarin Capital<br />
Angaros Group Pte Ltd<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
KyePot [Singapore, 2015]: Kyepot provides social financial service for people to save, borrow and lend in<br />
trusted digital groups and achieve their financial goals. The borrowing is at a reduced cost of capital. Founded in<br />
2015, the platform is in stealth mode as in May 2015.<br />
LoanVi [Ho Chi Minh City, 2014]: LoanVi is a peer-to-peer lending online marketplace for unsecured personal<br />
loans in Vietnam. Its mission to bridge the gap between unbanked/underbanked individuals and investors by<br />
creating accessible channel for individuals to acquire loan financing and for investors to earn fixed-income<br />
returns. It was incubated at SparkLabs Accelerator (Korea), and part of the 13th generation under Startup<br />
Chile by Chile Govt.<br />
$15.9k<br />
$10k<br />
Startupbootcamp<br />
45<br />
Alternative Lending Report, December 2015
Consumer Loans (23/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
finansowo.pl [ , 2008]: Finansowo is a short-term P2P lending platform in Poland. It was founded in 2008 and<br />
provides an online marketplace that matches retail savers and borrowers.<br />
Personal Loans -<br />
P2P Marketplace<br />
Donjoy [ , 2005]: Donjoy is a P2P lending platform in South Korea. Donjoy is in operation since 2005 and allows<br />
interest rates of up to 66 percent.<br />
Personal Loans -<br />
P2P Marketplace<br />
Popfunding [ , 2009]: Popfunding is a P2P lending platform in South Korea which allows borrowers to get loans<br />
up to a maximum amount of approx. 2000 US$. Interest rates are auctioned. Maximum interest rate is 29 percent.<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
GIROMATCH [Frankfurt am Main, 2014]: GIROMATCH is a Germany based P2P lending platform. It connects<br />
investors (who get access to German loan portfolio) to borrowers (who get loans with less effort and fair<br />
conditions.<br />
GoodMoney [Bangalore, 2015]: Goodmoney is an online platform for registered borrowers to connect with<br />
qualified lenders. Borrowers create a profile(employment details, salary, credit rating) on the platform, pay a<br />
registration fees and specify their loan requirement. Lenders get access to the profiles and provide loans.<br />
Borrowers profiles are physically verified by the company. Charges a one-time registration fee and 1.5% of the<br />
loan amount at the time of disbursement.<br />
Personal Loans -<br />
P2P Marketplace<br />
Easy Rupiya [Delhi, 2014]: Easyrupiya is an online marketplace connecting lenders and borrowers. Registered<br />
lenders can view the financial details of borrowers and decide whether to lend money or not. Funds are then<br />
transferred to the borrower and repayments are made through post-dated cheques. Plans to makes fund transfer<br />
online in the future.<br />
46<br />
Alternative Lending Report, December 2015
Consumer Loans (24/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
FundingHub [Bangalore, 2015]: FundingHub offers online marketplace for borrowers & lenders.<br />
Transaction of loans happens directly and lender - borrower can discuss rate of interest and other terms. Uses a<br />
verification process similar to KYC process carried out by any bank / financial institution to fulfill RBI /SEBI<br />
norms. Also does physical verification of borrowers resident/ office and documents. Charges nominal registration<br />
fees to register on the online platform for the borrowers & lenders. One can lend /borrow from any individual<br />
who is member of FundingHub in any of part city /town in India. Door to door services are provided for completing<br />
the documentation of the loan transaction. The lender can choose the person whom he lends and can lend to<br />
multiple borrowers. Minimum amount for investment is Rs.25000 and it charges a listing fee of Rs.1400 to invest<br />
up Rs.1, 40,000 from Lenders. .Thereafter, lender pays 1% of the investment amount as Listing Fees. The<br />
amount borrowed ranges from Rs. 50,000 to Rs. 5,00,000 for a tenor of 6-48 months.<br />
LendSmart [Hyderabad, 2015]: LendSmart, is a P2P platform which claims to use social networks to facilitate<br />
customized financing solutions. They claims to provide various types of loans by connecting with borrowers with<br />
a right lender by building upon trust because of a common connection. It is in development phase as of October<br />
2015.<br />
SAVY [Vilnius, 2014]: SAVY is an online P2P online lending marketplace in Lithuania focused on unsecured<br />
consumer loans. It facilitates loans between €200 and €4,000 for personal loans and €3,000 and €15,000 for<br />
mortgage loans for a loan tenure of 1-5 years. The interest rates vary between 6% to 28% on personal loans and<br />
12% to 40% APR on mortgage loans. It also facilitates financing for non-owner occupied rental real estates. It<br />
enables investors to lend between €5 and €500 in one loan and diversify their portfolio across loans. SAVY<br />
connects borrowers and investors directly via their bank accounts. Loan agreements are made directly between<br />
borrowers and investors.<br />
encash [Barnet, 2009]: YES-secure is an online peer-to-peer lending and borrowing marketplace in unsecured<br />
consumer loan space based on an auction-model for lending rates. Registers members based on authentic credit<br />
scoring, financial background research and strict underwriting processes to facilitate a safe and legally formatted<br />
transacting environment. Allows lending up to £25,000 for a loan term of 1 to 5 years on a fixed interest rate.<br />
Incorporates social networking and peer endorsements.<br />
Eddyyy [Glasgow, 2013]: Eddyyy is a P2P lending marketplace. It uses a consecutive matching strategy when<br />
matching the investors with the borrowers and is based on a goal of 100% flexibility and freedom of choice. The<br />
investors decide what interest he wants to charge. Every borrower will, at any given moment, be matched with<br />
the Investor who is asking for the lowest possible interest rate at that moment in time. IT charges 5% fee from the<br />
returns earned by the investors.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
47<br />
Alternative Lending Report, December 2015
Consumer Loans (25/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Trustbuddy [Stockholm, 2009]: Trust Buddy provides an online P2P lending platform which facilitates 30-day<br />
loans of up to 10,000 SEK between private parties. The company provides an option of interest free loan<br />
repayment if the loan is repaid within 14 days of the borrowing, post which interest is levied. Post 30 days of<br />
borrowing the loan in converted into a new loan account. Investors can start investing on the platform with a<br />
minimum amount of EUR 500 and diversify their portfolio across different loans. TrustBuddy was the the first P2P<br />
lending company to become publicly traded and is listed on the NASDAQ OMX First North since 2011.<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
SoLo Funds [New York City, 2015]: SoLo is a socially-driven mobile based peer-to-peer lending platform. They<br />
claim to create a socially connected marketplace for borrowers and lenders to exchange low-value funds. As of<br />
November, 2015 it is in stealth mode.<br />
i2i Funding [Noida, 2014]: i2i Funding is an online market place where an investor can fund a loan project listed<br />
by a borrower at an interest rate decided by the borrower. Uses a propitiatory credit score model for<br />
recommending credit score. The required amount can be collected from a single or multiple investors. Claims that<br />
users can borrow for rates starting from 12% and investors can earn upto 30% i2i conducts physical verification<br />
of the borrower along with matching the uploaded documents with hard copy / ID proof.<br />
Personal Loans -<br />
P2P Marketplace<br />
Madiston LendLoanInvest [Walton On Thames, 2012]: Madiston LendLoanInvest is peer to peer lending<br />
platform that connects investors and borrowers, allowing them to customise loans to suit their individual needs.<br />
Lenders can lend as little as £10.<br />
Personal Loans -<br />
P2P Marketplace<br />
LendLink [Stockholm, 2013]: LendLink is a Swedish P2P lending platform. It helps with the administrative<br />
process; loan applications, contracts between borrowers and lenders, payments and other administration. They<br />
charge a setup fee on the payments, a fixed percentage based on their credit evaluation of the borrower.<br />
48<br />
Alternative Lending Report, December 2015
Consumer Loans (26/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Kokos [ , 2007]: Kokos is a peer-to-peer lending platform based in Poland.<br />
MoneyCircle [Midwest, 2015]: Money Circle is a platform that manage the entire process to enable P2P loans<br />
among family and friends. The company creates contract between the borrower and the lenders, collect money<br />
from the lenders from anywhere in the USA, manage the process of monthly payments from the borrower, send<br />
reminders for each monthly payment, track the entire loan process and keep all parties informed. Also transfer<br />
the loan repayments + optional interest to lenders once the loan has been fully repaid. Charges transaction fee of<br />
7% on the loan amount. The fee is added to the loan amount and is paid by the borrower.<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
QuidCycle [London, 2013]: QuidCycle is an online P2P lending platform that facilitates personal loans. It offers<br />
loans from £ 2,500 - £ 25,000 for 1-5 years starting at 7.00% APR.<br />
CapitalCircle [Bangalore, 2015]: CapitalCircle is an online P2P lending platform where borrowers can raise<br />
collateral free money from investors for their requirements. Claims that investors can get returenf from 12-24%.<br />
Ensures regular payment of dues and imposes a fine of 20% of dues amount if any installment is missed. Has<br />
tied up with a collection agency to ensure the return of the funds. Currently does not charge any free for<br />
transactions.<br />
My-Lending [Mumbai, 2001]: My-Lending.com is a people-to-people lending based business. The company<br />
aims to dis-intermediate the lender and the borrower. It claims to provide lending against collateral of securities in<br />
book entry mode. It also claims to hold patent and protection for the business process in USA & Australia.<br />
Personal Loans -<br />
P2P Marketplace<br />
49<br />
Alternative Lending Report, December 2015
Consumer Loans (27/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
ALTX [Gurgaon, 2011]: ALTX.is an online person-to-person lending & borrowing marketplace. They<br />
facilitate matchmaking of borrowers' loan requirements with lenders' money. They claims to verify via highly<br />
secure process all the borrowers before getting listed on the portal, thereby enabling the lenders to choose loans<br />
with confidence and lending only to verified borrowers. The verification process consists of verifying home and<br />
office address, loan repaying capacity and previous loan history.<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Klickstart [Delhi, 2014]: Klickstart is an online loan marketplace which connects borrowers and lenders and<br />
enables them to transact with each other directly. Klickstart aim to be the "go to place" for all users looking to get<br />
loans. The users are allowed to borrow or invest between INR 25,000 up to INR 50,00,000 and the tenure is<br />
from one month up to 60 months with interest rates from 8% to 36%.<br />
Vote4Cash [Hyderabad, 2014]: P2P marketplace that enables users to lend and borrow cash loans for a preset<br />
amount of time and interest on the loan amount. Users can get short term loans (1-30 day tenure) for debt<br />
consolidation, travel expenses, medical emergencies, home improvement etc, based on their profiles on online<br />
social networks. Offers several types of memberships such as Silver, Gold and Platinum with loan amount limits<br />
ranging from INR 20000 - 50000.<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Slab [Hyderabad, 2014]: Developing a peer-peer social lending and borrowing platform as an alternative to<br />
traditional loans and investing options. Allows for borrowing INR 25k - 150k for a span of 1-3 years. Legal<br />
documentation, amount disbursement, EMI processing are among the offerings of the company.<br />
LoanCircle [Bangalore, 2015]: LoanCircle aims to provide people with quick access to loans, at the rates<br />
suited for a person. They check the CIBIL score and credit history, and also claim to consider a person's<br />
education, work experience and their expected career growth while evaluating a loan application. They have a<br />
data driven underwriting model which help them identify high quality borrowers, thereby helping the lenders on<br />
the platform make good returns on the investments. Raised angel funding from Toppr.com co-founder Zishaan<br />
Hayath, Trifecta Capital MD Rahul Khanna and other investors.<br />
50<br />
Alternative Lending Report, December 2015
Consumer Loans (28/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Lendbox [Delhi, 2015]: Lendbox is a peer-to-peer lending online lending platform. It aims to help borrowers to<br />
get money at low interest rate and lenders to get high returns on their investments. The platform allows borrowers<br />
to showcase their requirement and lenders can share their investment interests. On seeing a similar offer from a<br />
listed party, they can directly contact each other to proceed further. It claims to ensure safety during transactions,<br />
the lenders and borrower profiles are listed after a thorough check and analysis.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Personal Loans -<br />
P2P Marketplace<br />
LendWave [Bangalore, 2015]: LendWave is an online P2P lending marketplace for personal loans. It claims to<br />
have low-interest rates with rapid approval. They also claim to have an algorithm to put the borrowers on the<br />
platform.<br />
Personal Loans -<br />
P2P Marketplace<br />
MonthlyInterest [Vadodara, 2015]: MonthlyInterest is an online marketplace platform for peer-to-peer lending.<br />
They claim to be creating a community where investors and borrowers can connect to get great deals. It claims to<br />
service the loan in about 72 hours. It is under development stage as of August 2015.<br />
Personal Loans -<br />
P2P Marketplace<br />
IndiaMoneyMart [Mumbai, 2015]: IndiaMoneyMart is an online marketplace that aims to bring together<br />
borrowers and investors to enable a transaction between them on their terms. Individual borrowers can get loans<br />
from individual investors in this marketplace on the internet. It claims to handle all contractual documentations for<br />
the loans between the lenders and the borrowers on the platform.<br />
Personal Loans -<br />
P2P Marketplace<br />
InstaPaisa [Delhi, 2015]: InstaPaisa claims to leverage big data, and machine learning algorithms to make<br />
automated lending decisions and originate loans online in India. It is yet to be launched.<br />
51<br />
Alternative Lending Report, December 2015
Consumer Loans (29/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Lending Chaupal [Bangalore, 2015]: Plans to offer an online marketplace for lenders and borrowers. Claims to<br />
provide loans at lower interest rate and higher than savings account. Yet to be launched. Founder is IIT KGP and<br />
Darden Business School alum.<br />
Personal Loans -<br />
P2P Marketplace<br />
LendenClub [Mumbai, 2014]: Lendenclub is an online marketplace which allows borrowers to get loans from<br />
individual lenders. Lenders can view the credit rating of the borrowers and decide about lending money to them.<br />
Also offers a lender protection fund for lenders.<br />
Personal Loans -<br />
P2P Marketplace<br />
Capzest [Mumbai, 2015]: Capzest is a peer-to-peer lending marketplace and aims to allow people to invest in<br />
each other in a way that is financially and socially rewarding. On portal, borrowers list loan requests between Rs.<br />
5000 and Rs. 500,000 and individual lenders invest as little as Rs. 1000 in each loan listing they select. The<br />
marketplace thereby handles the servicing of the loan on behalf of the matched borrowers and investors.<br />
Personal Loans -<br />
P2P Marketplace<br />
P2P Credit [Panama, 2008]: P2P Credit is a Peer to Peer Lending platform which matches qualified borrowers<br />
and investors with loans and investment servicing. It offers personal loan access up to $35,000.<br />
Personal Loans -<br />
P2P Marketplace<br />
SmartLending [Delhi, 2015]: SmartLending is an online peer-to peer lending marketplace platform, and thereby<br />
connects borrowers and investors. The borrower has to post the requirements on the platform and thereby the<br />
investors and borrowers are connected and thereby have to contact each other themselves to finalize the<br />
transaction. They claim to not charge any fee in the entire process.<br />
52<br />
Alternative Lending Report, December 2015
Consumer Loans (30/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Lendit [Seoul, 2015]: Lendit is a Korean peer-to-peer lending marketplace where investors provide loans (APR<br />
4.5~15%) to creditworthy borrowers in exchange for the interest income (over 6% annual return). It leverages<br />
technologies to lower the cost of the traditional banking system and reduce volatility of returns through<br />
diversification based on machine learning.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Personal Loans -<br />
P2P Marketplace<br />
BAHT [ , 2013]: BAHT is a P2P lending platfrom for personal loans in Thailand connecting borrowers and<br />
investors.<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
RateSetter [Sydney, 2014]: RateSetter is a peer-to-peer lender. It connects lenders who want a better return on<br />
their money with creditworthy borrowers who want a simple, competitive personal loan. In the United Kingdom<br />
the RateSetter platform claims to have facilitated over A$700 million in peer-to-peer loans.<br />
Squirrel Money [Auckland, 2014]: Squirrel Money is a subsidiary company of Squirrel Mortgages. Squirrel<br />
Money is a P2P marketplace which offers secured and unsecured personal loans of between $3,000 and<br />
$70,000. Interest rates for Squirrel borrowers are determined by an auction bidding process. All borrowers are<br />
credit checked and assigned a credit score. Investors can lend within a range of $500-$2M. PLatform charges an<br />
up front establishment fee of $250 flat rate for unsecured and $500 for secured loans.<br />
Lenderly [ , 2014]: Lenderly is a platform where borrowers can access loans through their social network within<br />
a range of $200 - $5,000. Lenderly helps the borrowers identify those most likely to lend and manages the entire<br />
loan process from receipt to repayment to ensure that both the borrower’s and lender’s expectations are met. The<br />
loan applications are only exposed to selected contacts from the borrower’s social network. The borrower<br />
decides whether to pay any interest and how much. The lenders can then decide based on the offer made by the<br />
borrower. Currently servicing loans in the US only. Lenderly charges 3% + $1 per amount transferred.<br />
53<br />
Alternative Lending Report, December 2015
Consumer Loans (31/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
TWINO [ , 2015]: TWINO is a Latvia-based peer to peer lending platform for consumer loans. Twino is the<br />
creation of FinaBay, a FinTech company. TWINO buy backs loan (principal amount and interest for investment<br />
period) from investor, if it is 60 or more days delinquent. It offers interest rates in the range of 9% to 14.9%.<br />
Consumer loans range from €400 to € 3000 with terms from 6 months to 3 years. Investors may lend the entire<br />
loan or a fraction. The minimum investment is € 10.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Personal Loans -<br />
P2P Marketplace<br />
Lendex [Almere, 2014]: Lendex is an online lending platform that facilitates P2P lending in Netherlands.<br />
Borrowers to borrow a minimum amount of € 1,000 with a minimum loan tenure of 12 months. It allows retail<br />
investors to invest on the platform with a minimum investment amount of € 200, and a minimum investment<br />
amount of € 100 per loan. It partners with Experian and BKR to make credit inquiries on the borrowers.<br />
Personal Loans -<br />
P2P Marketplace<br />
Zinc Euro [Poprad, 2014]: ZincEuro is an online lending platform that facilitates personal loans to consumers in<br />
Slovakia. The platform allows for borrowing of loans ranging from Euro 1,000 to EUR 15,000 and a minimum<br />
investment of EUR 500.<br />
Personal Loans -<br />
P2P Marketplace<br />
FinBee [Vilnius, 2015]: FinBee is an online P2P lending platform based in Lithuania. The platform is based on<br />
reverse auction platform where lenders bid with the lowest interest rates for the borrowers. It provides a rating of<br />
A*, A, B, C, D to the loans on which lenders can bid with the minimum amount of EUR300 and the maximum<br />
amount being EUD 3,000.<br />
Personal Loans -<br />
P2P Marketplace<br />
Zastac [Madrid, 2015]: Zastac is a financing alternative to traditional banking, where through a participatory<br />
financing online platform unites individuals who need money to small investors who are willing to give. Zastac<br />
handles all contract management, billing and reimbursement, plus solvency thorough study of all users who want<br />
to borrow. Investors invest their money in loans to individuals of proven reliability.<br />
54<br />
Alternative Lending Report, December 2015
Consumer Loans (32/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Guarantor My Loan [Norwich, 2014]: Guarantor My Loan operates a P2P lending platform that provides<br />
guarantor loans to people of up to £5,000 for 5 years with a homeowner guarantor. It requires the guarantor to be<br />
a friend or a family member with a good credit record. Once the guarantor and other details of the borrower has<br />
been verified, the loan is disbursed to the borrower through the guarantor. If the repayments have been on time,<br />
the company gives one month's payment as a payback reward to the guarantor. Guarantor My Loan is the trading<br />
name of Match the Cash.<br />
Taplend [San Francisco, 2015]: TapLend is a mobile platform that allows you to receive instantaneous loans<br />
from friend and financial institutions in just a few clicks. The user has to sign in on Taplend app(can be done with<br />
even facebook Id), and select the amount and duration for which the money is required. It does a search for the<br />
user to find best conditions for him as per the amount he requires and for what duration. It also allows one to<br />
borrow from friends without any interest. They plan to soon launch Taplend app on Apple watch too.<br />
SOCILEN <strong>LENDING</strong>, SL [Madrid, 2014]: Socilen is a P2P lending platform that puts in contact individuals,<br />
freelancers or small businesses that need funding with investors interested in fund them. Investors can invest in<br />
multiple loans in order to diversify risk. Socilen charges a small fee to borrowers and investors for the use of the<br />
platform and the services provided to them.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Personal Loans -<br />
P2P Marketplace<br />
uCredit [ , 2015]: uCredit id a P2P lending platform in Ukraine. Borrowers set their own interest rates and<br />
lenders can choose the suitable offer to grant a loan. uCredit offers a service of a full cycle, including a search for<br />
borrowers, their scoring, the organization issuing the loan and payments on it, and in the event of delinquency -<br />
professional collection and, if necessary, legal proceedings to obtain a writ of execution.<br />
Personal Loans -<br />
P2P Marketplace<br />
Frank Inc. [New York City, 2014]: Frank is an online lending platform for loans amongst friends. Members<br />
create groups with people they trust and add money to the pot. Anyone in need can withdraw the money from the<br />
group and repay it over time. There is no interest to be paid along with the money withdrawn however people can<br />
pay-back extra as a way to thank people in the network.<br />
55<br />
Alternative Lending Report, December 2015
Consumer Loans (33/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
321Lend [San Francisco, 2014]: 321 Lend is an online P2P lending platform. It allows accredited investors to<br />
invest on the platform to fund loan projects published by the borrowers. Investors can diversify their portfolio<br />
across different loan classes based on risk rating from A1 to D5, in increasing order of risk. The loans offered are<br />
unsecured loans at interest rates starting at 7%.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
SimZirok Ukraine [Kiev, 2012]: Simzirok is a P2P lending platform with a focus on individuals and small<br />
businesses/self-employed entrepreneurs. It allows investors to start investing on the platform with a minimum<br />
amount of 10uah.<br />
Monk [San Jose, 2014]: Monk app provides an online platform for social savings and lending. It allows people to<br />
form a group where everyone can contribute to the savings and earn up to 3% interest rate per annum.<br />
Whenever there is a requirement, people can earn up to 30X the group savings and pay less than 3% interest<br />
rate on the loans. As of September 2015, Monk was operating a pilot program.<br />
Personal Loans -<br />
P2P Marketplace<br />
Lenders Exchange [San Francisco, 2015]: Lenders Exchange is a peer-to-peer lending platform that also<br />
serves as a secondary market, offering investors the ability to buy and sell consumer credit notes similar to<br />
trading equities on a stock exchange. It will offer loans of $2,000-$35,000 with terms of 36 or 60 months.<br />
Investment will, initially, only be available to accredited investors with a minimum baalance of $5,000. The<br />
company will also introduce a mobile trading technology as well as a rebate program for defaulted loans.<br />
Personal Loans -<br />
P2P Marketplace<br />
Fellow Finance [Helsinki, 2013]: Fellow Finance is an online P2P lending platform that provides unsecured<br />
loans to borrowers from € 500-10,000 for a tenure of 24-36 months. It allows portfolio diversification, for investors,<br />
and provides a secondary market to trade loan notes. The company is fully owned by its founders.<br />
56<br />
Alternative Lending Report, December 2015
Consumer Loans (34/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Fixura P2P Lending [Vaasa, 2009]: Fixura is an online P2P lending platform. Borrowers can register on the<br />
platform and choose conditions for the loan. Once the data is checked and the application is approved, the loan<br />
is listed on the marketplace for investors to commit capital to. Investors can start investing on the platform from a<br />
minimum amount of EUR 1,000. It also facilitates automated investing and withdrawal for investors. The system<br />
also optimizes the investors' portfolio by committing capital partially to different loan requests.<br />
Mintos [Riga, 2014]: Mintos is an online lending marketplace that provides secured loans against property in<br />
Baltic states. It also offers a secondary market for trading loan notes. It allows individual and institutional<br />
investors to invest on the platform with a minimum investment amount of €10. Mintos has so far funded<br />
€5,598,518 in loans secured against €11,319,969 of property.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Personal Loans -<br />
P2P Marketplace<br />
Lendico Global Services GmbH [Berlin, 2013]: Lendico is an online lending marketplace facilitating P2P<br />
lending. It provides lending for individual borrowers as well as SMEs and allows retail investors to invest on the<br />
platform. The company operates in Austria, Brazil, Germany, Netherlands, Poland, South Africa and Spain and<br />
has respective interest rates and terms for the countries.<br />
Personal Loans -<br />
P2P Marketplace<br />
Smartika [Milan, 2013]: Smartika is an online P2P lending platform connecting borrowers and retail investors. It<br />
allows members to borrow between € 1,000 and € 15,000 for a loan tenure between 1-4 years. The lenders can<br />
start investing from a minimum of € 100 up to a maximum of € 50,000. To reduce the risk, an investor's money is<br />
distributed on average between 50 different applicants with minimum tranches of € 10. The loans are divided into<br />
different classes, such as A +, A, B, C and K, based on their risk profiling.<br />
Personal Loans -<br />
P2P Marketplace<br />
BorrowFlex [California, ]: BorrowFlex is a service that enables P2P borrowing and lending among friends or<br />
people sharing the same interest. The transaction is facilitated using mobile wallets (currently only PayPal) thus<br />
ensuring timely transfer of funds. The interest rates on the loans are usually linked to current prime rates. It also<br />
provides the borrowers and lenders online tools to manage the loans. using which they can keeps track of the<br />
loan activities, notifications, and payment schedule for the borrowers and the lenders to review.<br />
57<br />
Alternative Lending Report, December 2015
Consumer Loans (35/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Money Place Australia Pty Ltd [Victoria, 2014]: MoneyPlace is an online P2P marketplace and will provide<br />
consumer loans of between $5000 and $35,000 on three-year fixed terms. Currently it has a credit license,<br />
enabling it to lend to borrowers, and is awaiting financial services license, which will enable the company to<br />
receive money from investors. As of July 2015, the company is still under development.<br />
Lendme [Auckland, 2014]: LendMe is an online P2P lending platform. It allows borrowers to apply for loans<br />
between $25,000 and $2 million and the loans are secured against borrower's personal assets, most commonly<br />
first mortgages over property. Lenders may fund loans in full or in increments of $1,000 and are provided with<br />
relevant information about borrowers, including a LendMe credit score and the security offered. LendMe sets the<br />
interest rate for a loan based on a borrower’s credit score and criteria such as their credit history and available<br />
equity. It services the loan and manages payments and collections and generates its revenue through its<br />
origination and servicing fees. The indicative interest rates are in the range of 5.89% to 14.29%. It has received<br />
the P2P lending license and is aiming for a mid-2015 launch.<br />
Buoy [Cambridge, 2014]: Buoy is a P2P lending platform that allows businesses, projects, and individuals to<br />
borrow money from lenders. The interest rates vary according to a borrower's profile and a lender's risk appetite.<br />
The credit scoring is customized and not as per the conventional credit rating agencies. Buoy Loans also gives its<br />
users an option of taking small loans and improve the credit score to be eligible for larger ticket loans or improved<br />
borrowing cost. Users can create customized loans by setting their loans amount, interest rates and loan tenure<br />
or chose a pre-approved loan from the marketplace for quick funding. It lets retail investors invest on its platform<br />
and diversify their portfolio according to risk and return appetite.<br />
WeFinance [San Francisco, 2014]: WeFinance is an online provider of P2P, personal loans. It allows borrowers<br />
to update the loan listing on the website and share the link with the people they want to fund the loan. Borrower's<br />
account is linked to the Facebook account and a borrower can start by asking immediate connections to fund the<br />
loan and then share the link with other connections on the portal. If the borrower is unable to meet a minimum<br />
amount of funding, the amount is credited back the lenders' account. Borrowers and lenders have Dwolla<br />
accounts which facilitates withdrawal and deposit of loan amount and repayments.<br />
eLoan [Tel Aviv, 2012]: eLoan is a P2P lending platform. It offers short-term (less that one year tenure) and long<br />
term loans (tenure between one year and five years) for amount up to 10,000 and 47,500 Israeli shekel<br />
respectively. Once applied, the loans are classified according to different risk classes between A1 and E5 with<br />
interest rates ranging from 2.8% to 9.95%. The lenders can invest either by investing in a portfolio of loans,<br />
filtered by interest rates/risk class, or by selecting individual loans and then transferring the money in an escrow<br />
amount which is then transferred to the borrower.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
58<br />
Alternative Lending Report, December 2015
Consumer Loans (36/71)<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Personal Loans -<br />
P2P Marketplace<br />
Puddle [San Francisco, 2012]: Puddle is an online community based lending platform. A first-time user<br />
contributes $10 to Puddle and is eligible to borrow up to $50. The user is required to pay the loan in 6 months<br />
with payment frequency of twice a month. People grow their "trust network" in Puddle which allows them to<br />
borrow/contribute to more people in Puddle. To use Puddle a person must have a US bank account and debit<br />
card and is eligible to borrow a maximum of 5 times their contribution.<br />
Twino [Rīga, 2009]: Twino is a P2P lending platform in Latvia which allows borrowers to borrow personal loans<br />
on its platform. It offers loans between EUR 400 to EUR 3,000 for a loan tenure of 6 months to 36 months for<br />
purposes such as medical procedures, vehicle loans, tuition and house improvements and charges a 5%<br />
origination fee. The borrowers are assigned ratings between A and F using FinaBay's credit rating model and are<br />
charged interest rates between 18% and 36%. For investors it allows the minimum investment amount of EUR 10<br />
and guarantees buyback of loans with credit rating of A if the loans are due within 60 days. Twino is a part of<br />
Finabay.<br />
Vertaislaina [Helsinki, 2010]: Lainaaja was the first P2P lending marketplace in Finland. Individuals make a<br />
loan application at Lainaaja.fi. It allows the borrowers to borrow up to EUR 15,000 for a time period between 1<br />
and 3 years. Each applicant is credit- and identity-checked. Lenders can make offers to the loan, they can set the<br />
interest rate, but only the best offers participate in the loan. If loan gets funded, then borrower starts to repaying<br />
to Lainaaja’s account. Lenders can re-invest or transfer money back to their own bank accounts. Lainaaja.fi<br />
makes its revenue in three ways. First, it takes EUR 60 of the loan for handling purposes. Secondly, each month<br />
it takes a EUR 3-5 cut of the payments by the lender itself and a 1% point off the return for lenders themselves.<br />
LendFriend [San Francisco, 2010]: LendFriend is a US based social lending company. It has 3 products in its<br />
portfolio: 1. Online P2P lending platform: for borrowing loans from friends and family.; 2. Multiple underwriting<br />
models: by utilizing proprietary data from traditional lenders. Identified customers are then targeted for larger<br />
loans with lower interest rates.; 3. Online platform: for matching high-risk borrowers with an aggregated network<br />
of online lenders.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Venture51<br />
AngelPad<br />
Personal Loans -<br />
P2P Marketplace<br />
- Bitcoin<br />
Bitbond [Berlin, 2013]: Bitbond is a global peer-to-peer bitcoin lending platform. Small businesses get access to<br />
affordable loans while lenders earn profitable interest rates. Since Bitbond works exclusively with the digital<br />
currency bitcoin, neither the borrower nor the lender need a bank account to participate in our global loan<br />
market.Bitbond's mission is to make investing and financing globally accessible.<br />
$0.9M<br />
Point Nine Capital<br />
59<br />
Alternative Lending Report, December 2015
Consumer Loans (37/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Personal Loans -<br />
P2P Marketplace<br />
- Bitcoin<br />
Personal Loans -<br />
P2P Marketplace<br />
- Bitcoin<br />
BitLendingClub [Sofia, 2013]: BitLendingClub (earlier known as LoanBase) is a peer-to-peer Bitcoin lending<br />
platform. Helps borrowers get Bitcoin loans online for the most competitive rates and the lowest transaction fees.<br />
The lenders compete in a 'Dutch Auction' style in order to assess the risk of each loan and offer the lowest<br />
possible rate for a given borrower. In order to avoid loan defaults, it has partnered with a third-party document<br />
verification provider, Jumio, to validate borrowers’ verification documents. Charges 1% of loan value as fees.<br />
Boasts a 35% share of bitcoin P2P lending market. Since the launch, BitLendingClub has served over 2,200<br />
loans, amounting to over 3,500 bitcoins.<br />
Money Circles [London, 2014]: Money Circles is a credit unions i.e. member ran savings & lending<br />
companies for people who share a common bond; who want to replace bad banks and predatory pay-day-loan<br />
companies. MoneyCircles allows people to create and operate their own credit unions on the Blockchain which<br />
provides savings and lending services to its members without all the usual associated costs and restrictions. It<br />
uses the concept and technology of digital currencies. Users can store their digital money in a secure wallet and<br />
can commit it to Circles of your choosing, to be made available as loans to its members and start earning interest.<br />
Each user of MoneyCircles.com has a Money Circles Credit Score.<br />
$0.3M<br />
LAUNCHub<br />
Personal Loans -<br />
P2P Marketplace<br />
- Bitcoin<br />
Wayniloans [ , 2015]: Wayniloans is a social network that offers a way to obtain loans in bitcoins. It is a P2P<br />
lending with bitcoins. Lenders have the possibility to choose amount, interest rate, quantity and frequency of<br />
payments in order to solve their needs. Clients access this service via a RESTful API and receive notifications to<br />
a configured URL. This service enables Wayniloans to create user profiles, wallets, receive balance change<br />
notifications and send bitcoins to wallets within and outside the platform.<br />
Personal Loans -<br />
P2P Marketplace<br />
- Bitcoin<br />
BTCJam [San Francisco, 2013]: BTCJam is a global peer to peer bitcoin lending platform and offers a global<br />
credit score to its users. BTCJam has developed a credit-scoring algorithm that worked completely online and on<br />
a global scale. It leverages users' social networking profiles and eCommerce transaction history as well as<br />
traditional data points such as income to determine the credit score of borrowers instantly. Was incubated at 500<br />
Startups.<br />
60<br />
Alternative Lending Report, December 2015
Consumer Loans (38/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Education Loans<br />
Education Loans<br />
Education Loans<br />
Education Loans<br />
Skills Fund [Austin, 2015]: Skills Fund is a student financing and quality assurance platform for coding and data<br />
science programs. They ensure that coding, data science, and other accelerated learning programs meet their<br />
quality standards, including strong graduate employment outcomes. Second, programs that meet those<br />
standards obtain access to competitive financing products for their students.<br />
Tuition.io [Santa Monica, 2011]: Tuition.io is a website for helping users manage their student loan portfolio and<br />
optimize it according to user's unique situation. All of student loan data can be loaded into one site, and it gives<br />
detailed information like identifying the servicer, monthly payment, how much the user owe, when it will be paid<br />
off, how much the user will pay over the life of the loan, etc. It also figures out which repayment programs is a<br />
person eligible for, and creates a plan for every unique situation. Tuition.io launched Flex395.com, a new<br />
employee benefit that lets employers contribute directly to their employees' student loans as a hiring and<br />
retention tool.<br />
Vested Finance [Austin, 2015]: Vested Finance is an Austin based FinTech company providing education loans<br />
for college education to students. Its repayment arrangement is based on Income Share Agreement (ISA) ,<br />
proportion of the student's earnings post graduation, thus eliminating the need of fixed repayments. The Vested<br />
app, which is currently in development, will educate students and parents on equity financing and enable them to<br />
simulate school and career choices to see comparison data on financing options and earnings potential.<br />
Student Loan Genius [Austin, 2013]: Student loan genius (formerly Student Loan Benefits) enables employers<br />
to help employees manage and reduce their student debt. Employees customize a repayment plan that fits their<br />
budget, by comparing 70+ repayment options, with the help of financial experts. They seamlessly handle the<br />
payments through payroll & implement strategies to pay-off loans faster & save money. helps them<br />
provide a 401k like match to greatly reduce employees' student debt. Awards:White House Demo Day Participant<br />
2015Village Capital Fintech U.S. Winner 2015DEMO-God Winner 2014<br />
$11.5M<br />
$8.1M<br />
$5M<br />
$1.4M<br />
Mohr Davidow Ventures, MESA+,<br />
Neu Venture Capital, Launchpad<br />
LA, Rothenberg Ventures,<br />
Conversion Capital, Fenway<br />
Summer, MassMutual Ventures,<br />
Double M Partners<br />
Education Loans<br />
LendLayer [San Francisco, 2014]: Lend Layer is a social lending platform that allows students attending coding<br />
bootcamps to borrow money to pay for their fee. It offers a grace period, which lasts up to 3 months after the<br />
course duration, during which the student pays $50/month and post the grace period the amount can be paid<br />
down in installments. It has a network of partner schools, where it offers the services.<br />
$0.4M<br />
61<br />
Alternative Lending Report, December 2015
Consumer Loans (39/71)<br />
Company Details Funding Investors<br />
Education Loans<br />
Education Loans<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Student Loan Freedom [Richmond, 2015]: StudentLoanFreedom assists consumers with federal student loan<br />
consolidation preparation and filing services. The service combine one or more federal student loans into one<br />
new loan held by a single lender. The interest rate for the new loan is fixed for the life of the loan. The rate is<br />
based on the weighted average interest rate of the loans being consolidated, rounded to the next nearest higher<br />
one-eighth of one percent and cannot exceed 8.25 percent.<br />
Future Finance [Dublin, 2013]: Future Finance provides student loans between £2,500 and £40,000 to cover<br />
tuition fees and living expenses for higher education in the UK or abroad. It offers student finance based on<br />
student's career potential taking into account his current credit status, course he is studying, current debts<br />
(including Government Loans) and future affordability.<br />
Education Loans<br />
Stilt [San Francisco, 2015]: Stilt provides collateral free personal loans at low interest rates that could be used<br />
towards paying off student debt for Indian students. It offers loans of up to $10,000 for a loan tenure of 1-2 years<br />
for students who have got admissions in US schools.<br />
Education Loans<br />
- Direct Lender<br />
Earnest [San Francisco, 2013]: Earnest is a lending platform for students that provides an opportunity to lower<br />
educations debt. The platform offers loans that have flexible terms such as unemployment protection, an option<br />
to switch between fixed and variable rates, and deferring payments to a later date in the investment term. The<br />
portal does not charge any origination or prepayment fees, and claims to earn its revenue from the interest<br />
charged. It also offers personal loans for various reasons like career development, vacations, wedding rings etc.<br />
$107M<br />
First Round Capital, Collaborative<br />
Fund, Maveron, Atlas Venture,<br />
Andreessen Horowitz, Battery<br />
Ventures, Adams Street Partners,<br />
New York Life Insurance Company<br />
Education Loans<br />
- Direct Lender<br />
College Ave [Wilmington, 2014]: It offers undergraduate and post graduate student loans. Student need not be<br />
a full time student to obtain loan form College Ave. The minimum amount you can borrow is $2,000 and<br />
maximum can be upto 100% of the school-certified cost of attendance i.e. like tuition and fees, books and<br />
supplies, room and board, transportation and personal expenses. The College Ave Student Loan Product is<br />
made by Firstrust Bank, member FDIC.<br />
62<br />
Alternative Lending Report, December 2015
Consumer Loans (40/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Education Loans<br />
- Direct Lender<br />
Education Loans<br />
- B2C<br />
Education Loans<br />
- B2C<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
Smart-Pig [London, 2011]: Smart-Pig allows stuednts to borrow £25-450 until their next student loan payment.<br />
Smart-Pig loans cost 0.8% per day. Loan interest is added to the balance daily and automatically stops at 50%. If<br />
student repays early, he or she will only pay interest for the days he or she had the loan.<br />
U-fi Student Loans [Lincoln City, 2015]: U-fi Student Loans, a Nelnet partnership, provides private student loan<br />
origination and servicing on behalf of their lender partners.The U-fi Student Loan is funded by Union Bank and<br />
Trust Company, Member FDIC. U-fi is compensated by Union Bank and Trust Company for the referral of<br />
prospective loan customers. It offers student loan refinancing, undergraduate and graduate students loans.<br />
Students can borrow as little as $1,000 or as much as the cost of attendance at your school, less any financial<br />
aid as certified by the school.<br />
Quotanda [Catalunya, 2013]: Quotanda provides an online lending platform for financing student loans. The<br />
company is currently only taking investments from accredited investors. Its platform is a Lending as a Service<br />
that enables organizations (lenders, schools, institutions, foundations and communities) to quickly introduce<br />
education loan programs in any country and currency. Currently it is only facilitating financing for IESE business<br />
school and coding bootcamps in Spain.<br />
SoFi [San Francisco, 2011]: SoFi is a marketplace that connects alumni borrowers and investors for refinancing<br />
private and federal student loans. Investors get market returns, while borrowers get lower interest rates. Benefits<br />
like events, career advising, seed funding and professional mentorship deliver value beyond a traditional bank.<br />
Also offers mortgages, mortgage refinancing, and personal loans. Has so far raised $400M in Debt Rounds. Has<br />
over $1B in loans issued and more than 12k members. Has offices in Atlanta, Chicago and New York.<br />
CommonBond [Brooklyn, 2011]: CommonBond is a P2P lending platform that allows students to finance their<br />
education or refinance their student loan debt. The principal amount available for borrowing extends up to<br />
$220,000, with fixed and flexible interest rates available for repayments. The portal charges no fee for<br />
prepayment of the amount. CommonBond charges an origination fee and a commission on the interest earned by<br />
investors. The loans on the platform are made by Bank of Lake Mills or Union Bank and Trust Company of<br />
Lincoln, Nebraska.<br />
$1510M<br />
$44.7M<br />
Institutional Venture Partners,<br />
Wellington Management Company,<br />
LLP, Third Point Ventures LLC,<br />
Renren Inc., Softbank Mobile,<br />
Wellington Management, Baseline<br />
Ventures Pte Ltd, DCM, Discovery<br />
Capital, Baseline Ventures,<br />
Innovation Endeavors<br />
The Social+Capital Partnership,<br />
Tribeca Venture Partners, Nelnet,<br />
August Capital<br />
63<br />
Alternative Lending Report, December 2015
Consumer Loans (41/71)<br />
Company Details Funding Investors<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
LendKey [New York City, 2007]: LendKey is a P2P lending platform with offices in New York and Cincinnati. It<br />
offers student loans' financing by community banks and credit unions in the US via refinancing and private loan<br />
options. It also offers auto financing and personal loans for home furnishings. The company also provides turnkey<br />
solutions for "Lending-as-a-service" offering white label platforms for online lenders facilitating services like loan<br />
origination, underwriting and digital servicing of the loan.<br />
Prodigy Finance [London, 2007]: Prodigy Finance provides loans to international students who enroll in<br />
business schools. The loans are funded by institutional investors, alumni and qualified private investors. The<br />
coupon repayments are made quarterly after a grace period of 6-9 months. Since 2007, Prodigy Finance has<br />
disbursed in excess of $86M to over 2059 students from 92 nationalities, with a 99.1% repayment rate. Prodigy<br />
Finance considers itself a social enterprise. 75% of its student borrowers come from developing world countries<br />
and 34% hail from BRIC nations alone. In August 2015 company raised $12.5M in equity funding and $87.5M in<br />
debt funding from Balderton Capital and Credit Suisse respectively.<br />
Credible [San Francisco, 2014]: Credible is an alternate lending platform that helps students fund their<br />
education and graduates to refinance their student loan debt. The platform offers loans to students without a cosigner,<br />
unless one is an international student. The principal amount lent begins with $1,000 and can rise to the<br />
certified total cost of attendance that is determined by the school. The loans are made by the platform's lending<br />
partners, and there are several repayment options available. The maximum term of repayment deferral is after six<br />
months of graduation.<br />
$20M<br />
$13.7M<br />
$13M<br />
Draper Fisher Jurvetson (DFJ),<br />
Zelkova Ventures, Brazos Group,<br />
Gotham Ventures, Updata<br />
Partners, TTV Capital<br />
Balderton Capital<br />
Redbus Group, Carthona Capital,<br />
Cthulhu Ventures, LLC, Cap-<br />
Meridian Ventures, Orrick,<br />
Herrington & Sutcliffe LLP<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
MPOWER Financing [Washington, 2014]: MPOWER is an online marketplace for unsecured student loans in<br />
the US. It provides bridge loans to financially underserved students enrolled at accredited institutions. Loans are<br />
either 3 or 10-year, fixed rate, and range between $2,000 to $25,000. It disburses payments directly to the<br />
universities on behalf of students for tuition or university-sponsored services like housing, meal plans, or health<br />
insurance. Students start paying back the loan within 6 months after graduation. Loans do not require any<br />
collateral or guarantees. It allows institutional and accredited retail investors to invest on the platform. The loan<br />
comes with free personal finance education courses, credit-building, and job placement service for the students.<br />
CoderLoan [New York City, 2014]: CoderLoan is an online platform that helps students, looking to join<br />
programming courses, connect with financial institutions and apply for course loans. The company is currently<br />
focusing on programming bootcamps as initial focus points. It also connects students with prospective recruiters<br />
to help them secure jobs in a more convenient way. CoderLoan takes a percentage from the loan and a fee from<br />
the companies, which recruit the students through its platform, as revenue streams.<br />
$4M<br />
1776, Baltimore Angels, Village<br />
Capital<br />
$25k Conscious Venture Lab<br />
64<br />
Alternative Lending Report, December 2015
Consumer Loans (42/71)<br />
Company Details Funding Investors<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
Education Loans<br />
- B2C<br />
Marketplace<br />
LendEDU [Cedar Rapids, 2014]: LendEDU is an online marketplace for student loans and student loan<br />
refinancing. Borrowers submit submit an application on the company's website which then pulls in credit history<br />
of the applicant alongside applicant information such as name, requested loan amount, school, degree, area of<br />
study, email, personal address and social security number to match users with lenders in real-time. After<br />
submission, borrowers are taken to the lender dashboard. On the lender dashboard borrowers can filter lender<br />
matches by interest rate, interest rate type, term length, and more. The borrower can then finish the application in<br />
full on the lender's website.<br />
PYT Funds [Washington, 2014]: The GO PYT platform is a hybrid model used to finance higher education<br />
costs. This platform is unique because there is a 3 sided revenue model and customer. It works like traditional<br />
crowdfunding sites yet is strictly for paying school costs and will help use the money raised to secure additional<br />
financing. The students, the financial institutions and the supporters and organizations are all the customers in<br />
one single transaction. It combines donation based crowdfunding and lending. The student sets the monitory<br />
target; people pledge to the campaign. In case the campaign achieves 20% of the target, the student qualifies to<br />
gain funding from the banking partners of PYT Funds without a cosigner. Funds are directly transferred to the<br />
university or college of attendance. Students who sign up are vetted through an application and interview<br />
process.<br />
Loanscribe [New York City, 2013]: Loanscribe offers services that can consolidate and refinance student loan<br />
debt. Loan applications are stringently screened with variuos criteria mandates that must be met, including a<br />
FICO score threshold. The platforms offers tools and various loan products for one to refinance their student<br />
debt. Loans can have fixed or variable interest rates. The portal does not charge any fee to the borrowers, it<br />
instead earns revenues from investors that buy the loans from the portal.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
$20k Iowa Startup Accelerator<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
StudentFunder [London, 2012]: StudentFunder is a UK based P2P lending marketplace that enables students<br />
to raise loans from registered lenders. The loans are for education purposes only and the amount borrowed<br />
cannot exceed £12,000. StudentFunder charges students a sum of £250 or 4% of the total amount borrowed,<br />
whichever is higher. Borrowers are also charged 7% annual interest on outstanding balances. The portal also<br />
receives a small administration fee from its registered lenders. The minimum investment amount on the platform<br />
is £5,000.<br />
$0.9M<br />
65<br />
Alternative Lending Report, December 2015
Consumer Loans (43/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
Gopher [Dallas, 2015]: Gopher is a peer-to-peer lending platform for medical students, residents, and young<br />
physicians. Their proprietary scoring method looks far deeper than credit score and history to offer better loan<br />
terms and lower rates, ultimately reducing long-term debt burden.<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
Gyandhan [Delhi, 2015]: Building an online platform for connecting students and education loan providers<br />
(financial institutions and individuals). Founder has an MBA degree from IESE Business school and a undergrad<br />
degree from IIT Kanpur.<br />
Vote4Edu [Hyderabad, 2015]: P2P K-12 education lending platform, that lends education loans for K-12 based<br />
on social-emotional score. Lenders and borrowers can register on the platform and check the requirements for a<br />
loan transaction. The process comprises of an online registration process, approval, lender paying to the<br />
registered school and repayment from the borrower after the due date. Partnered with 10+ schools. Founding<br />
team include IIM-ISB grads, founder of Vote4Cash.<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
Redfin [Mexico, ]: RedFin connects postgraduates looking for financing (student loan refinancing or credit<br />
solutions for their new or running business) with other postgraduates and outside lenders willing to lend their<br />
money in exchange for higher returns within a familiar and secure business community. As of October, 2015 it is<br />
in Beta stage.<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
Aspiro Funding [London, 2013]: Aspiro Funding is a business that aims to provide a solution to the<br />
postgraduate funding crisis. Lending through the Aspiro Funding platform is attractive to a large number of<br />
investors who are interested in investing in socially beneficial markets while seeking an attractive return. Aspiro<br />
Funding provides the platform specifically designed to bring together postgraduates and lenders.<br />
66<br />
Alternative Lending Report, December 2015
Consumer Loans (44/71)<br />
Company Details Funding Investors<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
DANAdidik [Jakarta, 2015]: DANA didik is an online education loan platform which facilitates P2P lending for<br />
student financing. Using the platform, students can receive up to 80% of the education cost as loans. The<br />
platform provides secured and unsecured loans, however applying with a security/guarantor may improve the<br />
payable interest rate on the loan.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Duckling [New York City, 0]: Duckling provides pooled funding for students allowing them to pool funds and<br />
disburse them as loans to someone in need. Students are placed in a circle with 5 other students and each<br />
student pays the same amount into the pool weekly. Weekly, the pool is distributed to one participant based on<br />
pre-determined slot and this continues each week until everyone has received on payout. The pool slot priority is<br />
need-based and students who need funds immediately pay larger interest rate to receive funds quickly whereas<br />
those interested in saving money are slotted at the back of the pool with a return on investment. After successful<br />
completion of a circle, a student can gain access to larger circles.<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
Education Loans<br />
- P2P<br />
Marketplace<br />
EdAid [London, 2011]: EdAid provides an online lending marketplace for student loans. It facilitates interest free<br />
loans to students from community for a time period of up to 10 years. Donors would get their money back in real<br />
terms in periodic repayments.<br />
CapAlly [Chicago, 2007]: CapAlly, is an online peer-to-peer student loan marketplace that links students to the<br />
financial support. Universities, businesses, and individual investors can lend and invest in a student loan and<br />
earn returns, all through micro-finance. Students register on the portal and list their funding needs, which are then<br />
selected by the investors registered on the portal. CapAlly allows students to customize their borrowing terms<br />
and permits investors to diversify their portfolio to mitigate risks. CapAlly was founded in 2007 and was then<br />
known as Academic Capital Exchange (ACE).<br />
Mortgage Loans<br />
PartnerOwn [Illinois, 2014]: PartnerOwn provides funds for a new form of residential mortgage arrangement,<br />
the Shared Responsibility Mortgage (SRM). The SRM protects borrowers by reducing monthly payments when<br />
market prices decrease in exchange for a minor share of the house price appreciation at the time of sale. As of<br />
August 2015, the company is still in development mode.<br />
67<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (45/71)<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
Mortgage Loans<br />
Mortgage Loans<br />
- Direct Lender<br />
Mortgage Loans<br />
- Direct Lender<br />
Mortgage Loans<br />
- B2C<br />
Expedite [San Francisco, 2014]: Expedite is a modern, end-to-end lending platform that eliminates the need for<br />
middlemen from the system. Its platform aggregates all the financial data of a user and gives a clear analysis of<br />
the financial health of the user. As of August 2015, Expedite is in development mode.<br />
Rate Gator [Saratoga Springs, 2015]: Rategator is an online mortgage marketplace which allows borrowers to<br />
set their own mortgage terms with the help of the "RateGator Build Your Offer" tool. Borrowers use the tool to set<br />
their preferred interest rate, term, down payment, and program type; their offer is then made available to<br />
approved loan officers for acceptance. When building their offer, borrowers create a profile with information like<br />
their credit score, income and price range. To give borrowers an idea of what is a reasonable offer (meaning<br />
what is likely to be accepted by a loan officer in their area), RateGator serves up a range based on offers made<br />
by borrowers with similar financial statistics that have recently been accepted. If a borrower’s offer is accepted,<br />
RateGator connects them with the loan officer that accepted their offer on the best terms. This whole process is<br />
completed within hours of the borrower submitting an offer.<br />
loanDepot [Foothill Ranch, 2010]: Loan Depot is a direct lender for consumer loans including personal loans,<br />
home loans and home equity loans. It offers unsecured personal loans of up to $35,000 with interest rate starting<br />
at 6.2%. It also extends home acquisition and refinancing loans such as ARM Loans, FHA Loans, HARP Loans,<br />
Jumbo loans, VA Loans and fixed mortgages. The company also plans to start home equity offering between<br />
$25,000 and $250,000 for a fixed term of up to 30 years.<br />
Privlo [Pasadena, 2011]: Privlo is an online lender for well-qualified borrowers who have fallen through the<br />
cracks inherent in the traditional agency and qualified mortgage (QM) process. The loans are made to borrowers<br />
to buy or refinance their homes. The interest rates are usually 6% and can rise up to 9.75%, depending on the<br />
risk factors involved in a borrower's application. Privlo is currently active in 12 states of USA. The company<br />
raised over $350M in debt, in July 2014, for growing its lending operations.<br />
Lenda [ , 2012]: Lenda (formerly GoRefi) is an alternate lending platform that gives home owners the option to<br />
refinance their mortgage. Home-owners needs to enter a few details along with their zipcode to attain a valuation<br />
of their homes. Lenda then uses its proprietary algorithm to recommend the optimal refinancing option for the<br />
case. The platform claims to have expedited the process of refinancing a mortgage and also reduce the cost<br />
involved.<br />
$12.2M<br />
$5.9M<br />
$3.5M<br />
QED Investors, Spark Capital<br />
SK Ventures, Rubicon Ventures,<br />
Cherry Ventures, China Growth<br />
Capital, Structure, Winklevoss<br />
Capital Management, ZenStone<br />
Venture Capital, 500 Startups,<br />
Monthly Ventures, Galvanize Inc<br />
68<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (46/71)<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
- B2C<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
ditech [Fort Washington, 1995]: Ditech is an alternate lending platform that helps borrowers finance or<br />
refinance their homes through mortgages. The platform can lend upto 80% of the value of the property, any<br />
principal exceeding will lead to a private mortgage insurance to be paid by the borrower. The interest rates<br />
charged by the paltfrom vary with every application, and are usually set after looking at parameters such as down<br />
payment provided, credit rating, property value, among others. The down payment expected from borrowers<br />
ranges from 5-20%. Ditribe charges closing fees that are for services provided by third parties. Ditech is owned<br />
by Walter Investment Management Corporation, a publicly traded company.<br />
LendInvest [London, 2013]: LendInvest is an investment platform for property mortgage loans. LendInvest<br />
provides an online platform which circumvents the banks - allowing investors to lend directly to borrowers.<br />
LendInvest is providing investors with superior risk adjusted returns. All LendInvest loans are secured by a<br />
registered charge against residential or commercial property in the United Kingdom. This provides investors with<br />
significant additional protection than many other investments, and provides far more protection than lending to or<br />
investing in a start-up business, or providing finance on an unsecured basis. Incubated at Montello Capital<br />
Partners. Raised $14.3M in Debt Round in Nov 2013.<br />
$47.1M<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
PeerStreet [Los Angeles, 2013]: Peer Street is an online marketplace for real estate backed loans. It allows<br />
borrowers to access money, for real estate projects, from accredited investors for a duration of 6-24 months and<br />
an LTV of less than 75%.<br />
$6M<br />
Felicis Ventures, Guggenheim<br />
Partners, Montage Ventures,<br />
Rembrandt Venture Partners, Toba<br />
Capital<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Robin Hood [London, 2014]: Robin Hood Mortgage is an online lending platform facilitating P2P lending for<br />
consumer mortgage loans with a loan tenure of 15-40 years. As of October 2015 the company is still under<br />
development.<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Neat Capital, Inc. [Boulder, 2015]: Neat Capital is a crowdfunding site for residential mortgages. It will enable<br />
accredited investors to invest directly in residential whole loans and applicants will be able to apply online for 30<br />
year fixed rate mortgage loans. As of September 2015, the company is under development and awaiting<br />
licenses.<br />
69<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (47/71)<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- P2P<br />
Marketplace<br />
Mortgage Loans<br />
- P2P<br />
Marketplace<br />
Mortgage Loans<br />
- P2P<br />
Marketplace<br />
Point of Sale<br />
financing<br />
Equidy [Pleasanton, 2011]: Equidy is a P2P lending platform for residential and commercial real estate mortgage<br />
loans. Borrowers can borrow between $30,000 and $1M to purchase, refinance, build, or flip/rehab a property.<br />
Investors are paid steady monthly returns and may browse, select, and diversify their investments online. Investors’<br />
average annual net yields are about 10% and are secured by a first deed of trust recorded against the property. It is<br />
currently operaing in pre-Beta mode and is expected to launch soon. The company only allows accredited investors as<br />
lenders and also allows trading of loan notes.<br />
Landbay [London, 2013]: Landbay is a P2P platform for retail investors in the United Kingdom. With Landbay,<br />
lenders can invest a minimum of GBP 100 in residential mortgages and earn a share in the property while securing<br />
fixed rental income. Landbay diversifies every lender's portfolio through investments in several properties, and each<br />
loan provided is secured against the title of the properties involved. The platform accredits itself to risk mitigation for all<br />
its customers. Landbay has received debt financing commitments for GBP 300M.<br />
Interactive Shares [Washington D.C., 2014]: Interactive shares is a real estate crowdfunding platform. It matches<br />
US real estate projects with institutional investors through a secure online marketplace. Investing as little as $5,000<br />
into a single property, qualified investors pool funds to buy shares in pre-screened real estate projects in need of<br />
additional debt or equity financing.<br />
Viventor [Barcelona, 2015]: Viventor is a peer-to-peer lending platform that offers investments in mortgage-backed<br />
loans. It is open specifically to European investors from more than 30 European countries and offers investments in<br />
loans secured against mortgages from different countries. Investors are required to invest at least 500 EUR, as a<br />
minimum deposit, and at least 10 EUR per loan. As per their website they are also launching a secondary marketplace<br />
in future. Also gives an 'AutoInvest' option where the investor can set the criteria that align with their investing<br />
preferences, and the system will automatically invest in new loans that appear on the platform on investor's behalf.<br />
Klarna [Stockholm, 2005]: Klarna is a provider of payment solutions for e-commerce stores. It allows buyers to pay<br />
for ordered goods after receiving them, thus providing them with an after delivery payment solution. It also offers<br />
customers with an option on the payment gateway of the online store to pay by Klarna and choose to pay by<br />
instalments, or pay the amount after a certain period of time. At the same time, Klarna assumes all credit and fraud<br />
risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna’s business model<br />
relies on only charging for approved purchases, which means that Klarna always work towards increasing stores’<br />
sales. Using data that has been gathered through millions of purchases throughout the years, Klarna can create<br />
accurate algorithms that enables the highest acceptance rate on the market. In 2011, Klarna acquired the Israeli risk<br />
analysis company Analyzed and in 2013 it acquired Sofort, Germany based provider of banking products for e-<br />
commerce. It has over 35 million customers and processes over 250,000 transaction a day and has over 10% market<br />
share of e-commerce market in Nothern Europe.<br />
$3.1M<br />
$282.1M<br />
Seedrs<br />
Sequoia Capital, Oresund<br />
Investments, General Atlantic, DST<br />
Global, QED Investors, Atomico,<br />
Institutional Venture Partners<br />
70<br />
Alternative Lending Report, December 2015
Consumer Loans (48/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Point of Sale<br />
financing<br />
Bill Me Later [Maryland, 2000]: Bill Me Later is a provider of payment and marketing technology solutions to<br />
multichannel retailers. It offers PayCapture, a set of credit tools and Bill Me Later that enables customers to pay<br />
for purchases without providing credit card information. The company allows users to increase their credit line as<br />
they continue to make purchases and get access to special offers, such as six months special financing. Bill Me<br />
Later now operates as PayPal credit.<br />
$100M<br />
Azure Capital Partners, Crosspoint<br />
Venture Partners, Upfront<br />
Ventures, Kingdon Capital<br />
Management, LLC, Amazon<br />
Point of Sale<br />
financing<br />
NewComLink [Austin, 2008]: NewComLink offers platform for lenders to provide PoS purchase financing. It<br />
offers an application that is filled by the consumer and is then forwarded to multiple lenders for authorization. It<br />
extends a variety of financing alternatives such as bank cards, revolving credit, loans and lease options. Its<br />
solution is fully customizable and omni-channel and can be accessed across PoS, web-portal, self-service kiosk,<br />
tablet, and eCommerce solutions. Some of the lenders on its platform include Santander, Fortiva, Crest Financial,<br />
and TideWater. Some prominent customers are Home Depot, Lazboy and Petland. The company has 55 patents<br />
and boasts of average order value of $1,200 and has so far financed over $185M worth of loans.<br />
$16M StarVest Partners, Austin Ventures<br />
Point of Sale<br />
financing<br />
Finestrella [Mexico City, 2008]: Finestrella provides consumer loans for purchasing cell phones. The company<br />
also provides loans for fixed telephones, cell equipment, and accessories.<br />
$13.8M<br />
Omidyar Network, Ignia Shared<br />
Services<br />
Point of Sale<br />
financing<br />
Paidy [Tokyo, 2013]: Paidy is a platform that provides purchase financing and "pay later" options to biyers. It is a<br />
cardless check-out that allows a customer to check out with only their name and email address. It acts as a<br />
lender, fronting the money to merchants and letting shoppers settle their Paidy accounts up to two weeks later;<br />
guaranteeing payment to merchants within 18 days. Paidy is similar to a credit card only that the there is no<br />
actual card and the user enters email address and name instead of credit card details.<br />
$10.8M<br />
Arbor Ventures, 500 Startups,<br />
Cherubic Ventures, Recruit<br />
Strategic Partners<br />
Point of Sale<br />
financing<br />
OnEMI India [Chennai, 2011]: Onemi is an alternative payments solution for e-commerce companies. It allows<br />
businesses to enable users to pay through credit card based EMI or loan based EMI for any purchases made.<br />
Collections are made through multiple offline and online channels. Founder started and sold his earlier venture<br />
Loyalty One. Looking to raise INR 100 Cr.<br />
$5M Ventureast<br />
71<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (49/71)<br />
Company Details Funding Investors<br />
Point of Sale<br />
financing<br />
Pier [San Francisco, 2014]: Pier is a mobile first credit provider for online shopping. People can apply on Pier's<br />
mobile app for the loan and Pier will generate a credit score based on person's education, employment, income<br />
history, bank account details and information from social networking websites including Linkedin. User can start<br />
using their credit line as soon as it is approved by Pier and they can use the loan to shop on mobile and web<br />
stores which support Pay with Pier option. Pier is invested by Ce Yuan and Zhen Fund. Pier is currently only<br />
active in US and plans to enter the Chinese market soon.<br />
$2M<br />
Point of Sale<br />
financing<br />
ViaBill [Risskov, 2009]: ViaBill (formerly iBill) provides purchase financing. It allows users to buy products using<br />
interest-free credit and pays the full amount to the merchants.<br />
$1.6M<br />
Northcap<br />
Point of Sale<br />
financing<br />
Point of Sale<br />
financing<br />
Point of Sale<br />
financing<br />
Point of Sale<br />
financing<br />
Blispay [Baltimore, 2014]: Blispay is a stealth mode mobile payments startup. Gregory Lisiewski, CEO &<br />
President has previously held senior positions at PayPal, Bill Me Later and MBNA. It offers purchase finance for<br />
online purchases.<br />
zipMoney [Sydney, 2013]: zipMoney is a provider of innovative credit and payment solutions to the online retail<br />
and services sector. It offers point-of-sale credit of $500 to $10,000 and digital payment services to "prime" or<br />
"near-prime" consumers in the areas of retail, travel, education, cosmetics and elective health. It automates the<br />
underwriting and lending process for online credit, while offering a quick and easy process for new and existing<br />
customers. It claims to use the latest technology to make eCommerce and traditional retail shopping easy for our<br />
customers and merchants.<br />
LeaseItKeepIt, Inc. [Phoenix, 2013]: LeaseItKeepIt makes internet shopping more affordable with easier<br />
payment terms. Rather than making layaway payments and waiting until those payments are completed to<br />
receive merchandise, LeaseItKeepIt has designed a payment option where you get goods rightaway and pay<br />
later. Shoppers can enjoy more time to pay for their purchases by using our "90 days same as cash" financing, or<br />
stretch their payments over 12 months, by paying a bit more. For those shoppers that decide they don’t want to<br />
keep their item, they can also return them after a minimum number of payments, and owe no further money.<br />
NCash [Gurgaon, 2013]: Developing an alternative payments instrument for consumers and offline merchant<br />
stores. Enables a cycle of free and instant payments. The product is yet to be launched.<br />
$1.2M<br />
$1M Victory Park Capital<br />
72<br />
Alternative Lending Report, December 2015
Consumer Loans (50/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Point of Sale<br />
financing<br />
Point of Sale<br />
financing<br />
Point of Sale<br />
financing<br />
Simpl [Mumbai, 2014]: Simpl is a credit based payments startup. Payments can be made by consumers with the<br />
partnered merchants using phone number and a pin for a faster checkout. Employs fraud detection algorithms<br />
and notifies via SMS every time a purchase is made. Offers interest free credit for a time frame of 14-45 days.<br />
Helps track purchases, upcoming payments and account activity. Merchants can partner with Simpl to enable<br />
their consumers to pay for purchases through Simpl mobile app.<br />
Zest Money [Mumbai, 2015]: Zest is a consumer digital lending platform. It partners with e-commerce<br />
companies to enable financing at check-out, helping the merchants convert more customers, increase average<br />
order size and reduce cash collection cycles. Also it enables instant account opening and credit decision for<br />
customers transacting online, as well as fully automated loan servicing and collections technology.<br />
FuturePay [Lehi, 2013]: FuturePay is an instant credit option that enables consumers to shop online without a<br />
credit card. The customer adds items to their cart and selects FuturePay when they check out. Once the order is<br />
processed, FuturePay pays the merchant the full amount upfront. Customers settle their balance directly with<br />
FuturePay and pay in flexible monthly payments. It charges customers a fee of $5/month for every $500 of<br />
carried balance.<br />
Point of Sale<br />
financing<br />
Tempoe [New Hampshire, 2009]: TEMPOE provides lease to own, and other finance products for retailers for<br />
appliances, furniture and electronics. Customer will make their first payment at the time of the sale and the<br />
remaining payments for the 5 month minimum term are scheduled. Once the 5 months is up customers will have<br />
3 options: Purchase the items, continue making payments or return the merchandise to TEMPOE. Early<br />
purchase options at 30, 60 and 90 days are available to customers. TEMPOE charges retailers a discount fee on<br />
the cash price of the lease items.<br />
Point of Sale<br />
financing<br />
SmartPay Lease [San Francisco, 2009]: SmartPay Everyday Leasing lets consumers get the electronic devices<br />
they want today and pay for them over time. It allows to make purchases of upto $2000. Length of the plan<br />
ranges from 6 to 24 months.<br />
73<br />
Alternative Lending Report, December 2015
Consumer Loans (51/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Point of Sale<br />
financing<br />
Creddy [London, 2014]: Creddy offers a revolving credit for cross-border internet retail purchases. The initial<br />
focus markets are Denmark, Finland, Sweden, Estonia, and Lithuania.<br />
Point of Sale<br />
financing<br />
Aplazame [Madrid, 2014]: Aplazame is an online platform that facilitates purchase financing for online shopping.<br />
It provides an option to checkout on the payment page and extends options to pay in user preferred time period.<br />
The payments can either be made in full at a later data or as instalments. The interest is charged as per the time<br />
period of the loan. Aplazame has obtained an undisclosed investment by Spanish Venture Capital fund Cabiedes<br />
& Partners and François Derbaix (who is also a co-founder of Aplazame).<br />
Point of Sale<br />
financing<br />
Point of Sale<br />
financing - B2C<br />
Point of Sale<br />
financing - B2C<br />
PayJoy [California, 2015]: PayJoy facilitates finance for consumer electronics, changing an up-front purchase<br />
into a monthly installment plan. This applies to everything from televisions and smartphones to microwaves and<br />
air conditioners. Customers register for PayJoy at a local merchant with their Facebook account, phone number,<br />
and government issued I.D. Customers choose a product, make a reasonable deposit, and choose the 3, 6, 9, or<br />
12 month payment plan that works for them. It has a technology that locks devices unless a monthly payment is<br />
made, improving customer payment rates.<br />
Affirm [San Francisco, 2012]: Affirm is a consumer finance company providing shoppers with instant point-ofsale<br />
financing for online purchases. Started by PayPal co-founder Max Levchin, Affirm’s data-driven approach<br />
looks beyond a standard credit score to reach broader consumer populations. Affirm’s transparent financing<br />
solutions empower shoppers to buy now and pay later in monthly installments and at reasonable interest rates.<br />
Cross River Bank is the lender for all loans initiated through Affirm. Affirm underwrites and services these loans in<br />
association with Cross River Bank.<br />
BetterFinance [San Francisco, 2009]: Better Finance (fka BillFloat) is a financial technology company providing<br />
leasing and credit solutions to consumers and small businesses online, in-store and via mobile. It has two main<br />
products: SmartPay and SmartBiz. SmartPay provides lease-to-own payment plan for smartphones, accessories<br />
and other high-value items and payments are spread over an extended term to make them more affordable.<br />
SmartBiz provides SBAs with working capital loans between $5,000 and $25,000.<br />
$320M<br />
$37M<br />
Nyca Partners, Lightspeed Venture<br />
Partners, Khosla Ventures, Spark<br />
Capital, Jefferies Group,<br />
Andreessen Horowitz<br />
PayPal, Venrock, First Round<br />
Capital, Baseline Ventures, SV<br />
Angel, SoftTech VC, Capital<br />
Growth Investments Inc<br />
74<br />
Alternative Lending Report, December 2015
Consumer Loans (52/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Point of Sale<br />
financing - B2C<br />
Point of Sale<br />
financing - B2C<br />
Point of Sale<br />
financing - B2C<br />
Financeit [Toronto, 2007]: Financeit works with small and medium-sized businesses and larger enterprises to<br />
offer customers flexible payment plans for large purchases. By giving customers additional payment options, it<br />
helps businesses increase close rates and transaction sizes. Offers lower interest charges than most credit<br />
cards. Since launch in 2011, has signed up over 3,800 retail, vehicle, home improvement and healthcare<br />
businesses who have processed more than $825 million in loans in Canada and United States.<br />
Bread Finance [New York City, 2014]: Bread Finance is an online financing platform for e-commerce<br />
purchases. It allows people to purchase products online on instalments without the use of credit card. The<br />
eligibility of a person is checked by pulling the credit score. The loans on Bread are made by Cross River bank.<br />
Zibby [New York City, 2012]: Zibby is a alternate lending platform that offers 'lease-to-own' financing on online<br />
shopping products purchased by e-commerce shoppers. A shopper needs to register on Zibby and apply for<br />
'lease-to-own' financing for a particular item he/she wishes to purchase. The platform will use proprietary<br />
algorithm to process the application and then determine the lease term and monthly repayment terms. Zibby is a<br />
venture by Cognical, Cognical raised $10 million and launched Zibby in November, 2014.<br />
$21.4M<br />
$14.3M<br />
$40k<br />
TTV Capital, Inter-Atlantic Group,<br />
Second City Capital, Fidelity<br />
Investments, FinSight Ventures<br />
Greycroft Partners, Red Swan,<br />
BoxGroup, Cue Ball, Maveron,<br />
RRE Ventures, Bessemer Venture<br />
Partners<br />
Entrepreneurs Roundtable<br />
Accelerator<br />
Point of Sale<br />
financing - B2C<br />
PayLater [Bryanston, 2012]: PayLater is a bidorbuy and VentureCapitalworks initiative that facilitates personal<br />
loans through third party registered credit provider, GoLoans (Pty) Ltd. PayLater offers purchase finance for<br />
online shopping within a range of R500 to R8000. Bidorbuy shoppers are able to apply for credit in order to<br />
finance their online shopping on the bidorbuy platform through monthly repayments to GoLoans.<br />
Point of Sale<br />
financing - B2C<br />
Marketplace<br />
Splitit [New York City, 2009]: Splitit enables both ecommerce and brick & mortar merchants to offer<br />
interest-free monthly installment payments to their customers at the point of sale. Customers do not have to apply<br />
for a new credit line or qualify for a new credit card. Splitit works on their existing credit cards. Splitit is a<br />
registered TPSP of Wells Fargo, Walnut Creek, CA, and The Bank of America, Charlotte, NC.<br />
$10M<br />
75<br />
Alternative Lending Report, December 2015
Consumer Loans (53/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Point of Sale<br />
financing - B2C<br />
Marketplace<br />
Best Friends Credit [Santa Monica, 2014]: The Best Friends Credit offers consumer loan product that provides<br />
instant credit from $500 to $35,000 to pet owners for unplanned and emergency veterinary expenses. They pay<br />
the veterinary practice directly. They provide lead generation and point of sale loan origination, and don't<br />
underwrite credit, service or fund consumer loans. As per their website they plan to launching in 2016.<br />
$1.5M<br />
Point of Sale<br />
financing - B2C<br />
Marketplace<br />
LendingUSA [Sherman Oaks, ]: LendingUSA is a technology platform specializing in point-of-sale and direct-toconsumer<br />
financing solutions for the medical services, consumer goods, bridal, pet and legal services markets,<br />
among others. It offers loans from $1,000 to $35,000. It has multiple lending partners and the loans are originated<br />
by Cross River Bank, a New Jersey State Chartered Bank.<br />
Point of Sale<br />
financing - B2C<br />
Marketplace<br />
EasyCrédito [Goiania, 2014]: EasyCrédito is a credit marketplace which connects people who want to make<br />
purchase on EMIs, to retailers who want to sell on installments.<br />
Point of Sale<br />
financing - B2C<br />
Marketplace<br />
CashCare [Mumbai, 2014]: Credit lending platform for consumers to enable them make eCommerce purchases<br />
and pay for purchases over 6 month EMIs. Users can choose CashCare interest free EMI as their payment option<br />
on the eCommerce portal, get approved, provide verification documents to initiate the EMI based payment.<br />
Currently has partnered with FabFurnish.<br />
Point of Sale<br />
financing - B2C<br />
Marketplace<br />
Pay4later [London, 2008]: Pay4Later is a lending platform offering purchase financing for both online and instore<br />
purchases. It offers a multi-tier, multi-lender platform which approves more people and extends higher<br />
credit lines this enabling higher ticket sizes. It has one application form to be filled by borrowers, while applying<br />
for the financing, which is forwarded to multiple lenders. Some of its lenders include Close BrothersRetail<br />
Finance, Ratesetter, Shawbrook Bank and Omni Capital Retail Finance.<br />
MissionOG<br />
76<br />
Alternative Lending Report, December 2015
Consumer Loans (54/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Point of Sale<br />
financing - P2P<br />
Marketplace<br />
Installments Inc. [San Jose, 2014]: Installments enables anyone to buy or sell any product or service in<br />
installment plans. Sellers list their offerings on the platform where consumers make purchases. The consumers<br />
make periodic payments to the platform and platform makes bi-monthly payments to the sellers.<br />
$2M<br />
Point of Sale<br />
financing - P2P<br />
Marketplace<br />
Buy That For Me [Manchester, 2015]: Buy That For Me is a P2P marketplace wherein people publish what they<br />
want to purchase and creditors browse and choose one of such publishings. The creditor contacts the requester<br />
to know his situation and makes an offer. If the offer is accepted by the customer, a contract is signed; and the<br />
creditor purchases the good and arranges for its delivery. Once the goods are received by the customer, he is<br />
bound by the contract to repay specific amounts at specified times.<br />
Employer Loans<br />
Zebit [Middlesex, 2011]: Zebit is a free solution for employers to offer an interest-free short term loan to their<br />
employees. The credit is repaid through monthly payment cuts, and can be used to buy name brand products in<br />
Zebit Market, an e-commerce store selling products such as electronics, computers, furniture, appliances, health<br />
equipment, clothing, and accessories.<br />
$55M<br />
Mohr Davidow Ventures, Crosslink<br />
Capital, Leapfrog Ventures, QED<br />
Investors<br />
Employer Loans<br />
Contigo Financial [Nashville, 2012]: Contigo Financial partners with employers to provide a short-term, lowcost,<br />
loan offered as a voluntary benefit to employees. It lends between $500 and $2,500 loans with payment<br />
terms ranging from 3-9 months. Once the employee is pre-approved for the loan, he/she can access loans and<br />
the repayment is done by direct deduction from the employee's paycheque.<br />
$15k<br />
JumpStart Foundry, Queensland<br />
Investment Corporation<br />
Employer Loans<br />
Kashable [New York City, 2013]: Kashable's Employee Benefit Program is a financing solution for employees<br />
offered as an employer-sponsored voluntary benefit. Kashable deploys technology to offer employees immediate<br />
access to low cost credit that is based on their ability to repay. Eligible Employees can take a Kashable loan<br />
online in a matter of minutes and repay them through automatic payroll deductions over several months.<br />
77<br />
Alternative Lending Report, December 2015
Consumer Loans (55/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Employer Loans<br />
WorkLoan [Cape Town, 2012]: WorkLoan works with companies to provide a lending solution to their staff. The<br />
repayments are deducted from the payroll on monthly basis.<br />
Employer Loans<br />
Salary Finance [London, 2015]: Salary Finance is an online lending platform that facilitates employer loans. It<br />
provides a platform where employees can log on and apply for financing needs. The loan terms are decided on<br />
the platform are repayments are deducted directly from the payroll. Salary Finance is backed by BrightBridge<br />
Ventures and Blenheim Chalcot.<br />
PayDay Loans<br />
MoneyMan [Moscow, 2011]: MoneyMan.ru is a digital finance company based in Moscow, Russian Federation.<br />
The idea behind MoneyMan is to help people to solve their short term cash flow needs by the providing fully<br />
automated payday loan service operating 24/7. The company was established in 2011 and went online in<br />
September 2012. MoneyMan concentrates its R&D efforts on developing innovative risk assessment<br />
models; big data processing, developing secure applications for both web and mobile platforms, etc.<br />
$9M Emery Capital<br />
kredit24 [ , 2013]: kredit24 offers short-term payday loans via own online platform. It claims to issue loan money<br />
within a couple of hours. Till date it has served around 37000 borrowers.<br />
PayDay Loans<br />
PayDay Loans<br />
Platiza [Moscow, 2011]: Online microfinance service that provides short-term payday loans. After online<br />
identification and scoring process funds can be trasferred to customer’s debit card, Visa Qiwi Wallet or any e-<br />
commerce partner account for purchase settlement purposes. Funds are being posted within 5-10 minutes in<br />
case of positive decision.<br />
FINAM Global<br />
78<br />
Alternative Lending Report, December 2015
Consumer Loans (56/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
PayDay Loans<br />
GetBucks [Port Louis, 2011]: GetBucks offers payday loans in 9 countries including Kenya, Espana, Zimbave,<br />
Poland. It claims to make cash available within 1 hour of application.<br />
PayDay Loans<br />
SafetyNet Credit [London, 2011]: A SafetyNet Credit facility prevents the customer from incurring unauthorised<br />
overdraft fees by transferring money into his account, up to an agreed credit limit when he is about to go<br />
overdrawn. Interest is charged at a flat rate of £0.80 per £100 borrowed, per day (0.8% per day).<br />
Moneyveo [Kiev, 2013]: Moneyveo.ua is an online microfinancial company in Ukraine. Moneyveo provides<br />
short-term loans directly to the bank card of their clients.<br />
PayDay Loans<br />
Apoyos Express [Mexico, 2014]: Apoyos Express provides credits online from 1,000 to 3,000 pesos per person<br />
in one day, the payday is from 7 to 30 day and is only one payment.<br />
PayDay Loans<br />
PayDay Loans<br />
Branch [San Francisco, 2014]: Branch allows access to credit over a smartphone in emerging markets. Users<br />
send their critical data to the application, which is then used in making a credit decision. Allows inviting friends<br />
which in turn increases user's ability to access quick, fast loans. Once approved, Branch sends loan within 24<br />
hours which can be paid back over a few weeks. Once a loan is paid back, it increases user's eligible for larger,<br />
cheaper loans into the future.<br />
79<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (57/71)<br />
Company Details Funding Investors<br />
PayDay Loans -<br />
Direct Lender<br />
PayDay Loans -<br />
Direct Lender<br />
Wonga [London, 2007]: Wonga.com provides small, short-term cash advances to UK consumers online. The<br />
company uses risk and decisioning technology to make automated lending decisions. It allows applicants to<br />
decide the value and tenure of loan required before submitting the personal details online. It offers loans of up to<br />
£400 for first time consumers and £1,000 for returning consumers for a loan tenure of up to 30 days.<br />
LendUp [San Francisco, 2012]: LendUp is a direct lender and has created a product that allows small-dollar<br />
loans as an opportunity for consumers to build credit and move up the financial ladder. Consumers who have<br />
poor or no credit can apply for and receive small-dollar, short-term loans. Borrowers start with up to $250, but can<br />
eventually borrow up to $1,000 for a year. LendUp uses big data to do instant risk analysis and evaluate credit<br />
worthiness. Was incubated at YCombinator in Winter 2012 batch. Raised a $50 million credit debt facility from<br />
Victory Park Capital in April 2014.<br />
$145M<br />
$64M<br />
Balderton Capital, Dawn Capital,<br />
Oak Investment Partners, Meritech<br />
Capital Partners, Wellcome Trust,<br />
83NorthVC, Accel Partners,<br />
Greylock Partners<br />
Google Ventures, Data Collective,<br />
QED Investors, Susa Ventures,<br />
Victory Park Capital, AF Square,<br />
Founder's Co-op, Y Combinator,<br />
SV Angel, Kleiner Perkins Caufield<br />
& Byers, Andreessen Horowitz,<br />
Kapor Capital, Thomvest Ventures<br />
PayDay Loans -<br />
Direct Lender<br />
L.O.A.F. [London, 2014]: L.O.A.F. is a lending platform which offers payday loans. Its loan product is called<br />
"slice loan" wherein the borrower has to choose atleast two of his friends to join the slice. Each Slice member is<br />
solely responsible for their loan, but looking after one's loan looks after the Slice. The loan is available for only 21<br />
days.<br />
$0.3M<br />
Premia Capital<br />
PayDay Loans -<br />
Direct Lender<br />
Loan Ranger Cash Loans [Perth, 2012]: Loan Ranger is an online direct lender which provides payday loans<br />
between $200-$1000. They charge 4% per calendar month plus an administration fee calculated at 20% of the<br />
loan principle amount.<br />
LiberumCapital<br />
PayDay Loans -<br />
Direct Lender<br />
Finance 27 [ , 2010]: Finance27 provides same day payday loans in South Africa. It offers loans within a range<br />
of R500 to R3000. Non-payment cost is R50 service fee and 5% interest added every month.<br />
80<br />
Alternative Lending Report, December 2015
Consumer Loans (58/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
PayDay Loans -<br />
Direct Lender<br />
MoneyForAll [Johannesburg, 2013]: MoneyForAll offers small short term loans in South Africa. They offer<br />
loans upto R2500.<br />
PayDay Loans -<br />
Direct Lender<br />
Quidie [London, 2012]: Quidie is a direct lender which offers payday loans from £100 to £400 for a tenor of 3<br />
days to 38 days. The interest is 0.8% per day.<br />
PayDay Loans -<br />
Direct Lender<br />
Nextcredit [Gloucestershire, ]: Nextcredit is a UK-based direct lender for payday loans between £100 to £400,<br />
payable over 14 days to 4 months. Borrower can apply for a NextCredit payday loan either with mobile phone or<br />
using the online internet loan application form. The loan is deposited in the bank account directly.<br />
PayDay Loans -<br />
Direct Lender<br />
Mr Lender [Essex, 2009]: Mr. Lender is an online provider of payday and short term loans. It offers loans from<br />
£100 - £1,000 for a tenure of up to 6 months. Mr Lender is a subsidiary of PDL Finance Limited.<br />
PayDay Loans -<br />
Direct Lender<br />
Telecredit [Bucharest, 2014]: Telecredit is an online platform that provides short term loans to people ranging<br />
from RON 100 to RON 500 for a time period of 10-30 days. Returning borrowers are allowed to borrow up to<br />
RON 1,500. Telecredit is a non-banking financial institution authorized by NBR .<br />
81<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (59/71)<br />
Company Details Funding Investors<br />
PayDay Loans -<br />
Direct Lender<br />
PayDay Loans -<br />
Direct Lender<br />
Twinero [Barcelona, 2011]: Twinero provides short term payday loans to individuals in Spain. The maximum<br />
loan amount is €600 for a tenure of up to 30 days.<br />
Lending Stream [Edgware, 2008]: Lending Stream offers short-term loans that are paid back in monthly<br />
instalments over six months. It offers loans to new customers of up to £800 and up to £1,500 to returning<br />
customers. The company performs credit scoring for the borrowers on its platform to provide customized interest<br />
rates.<br />
PayDay Loans -<br />
Direct Lender<br />
cohete [Miguel Hidalgo, 2013]: Cohete provides unsecured payday loans to consumers from 1,000 MXN pesos<br />
to $2,000 MXN pesos for a loan tenure of 7-30 days.<br />
PayDay Loans -<br />
Direct Lender<br />
MobiLender [Jalisco, 2013]: Mobilender is an online lender providing payday loans in Mexico from $ 50.00<br />
pesos to $ 5,000.00 pesos for a loan tenure of 1-31 days.<br />
PayDay Loans -<br />
Direct Lender<br />
RISE Credit [Fort Worth, 2013]: Rise Credit offers short term loans to individuals between $500 to $5,000 to<br />
meet unexpected emergencies. Once the borrower uploads the application to borrow the money, they are either<br />
asked for additional information or approved for the loan requirement. Funds are usually disbursed the next day<br />
to borrowers and repayment frequency is flexible such as bi-weekly or bi-monthly depending upon the payday<br />
frequency of the borrower. Rise Credit is a product of Think Finance.<br />
82<br />
Alternative Lending Report, December 2015
Consumer Loans (60/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
PayDay Loans -<br />
Direct Lender<br />
Fido Money Lending [Accra, 2014]: Fido is an online platform providing short-term loans in Ghana. A user can<br />
apply for the loan online on its mobile app and get the approval. Once the approval is received the consumer<br />
deposits a proof of ID and bank statements at Fido's branch and the money is deposited in the user's account in<br />
one business day.<br />
PayDay Loans -<br />
P2P Marketplace<br />
Webtransfer Group [London, 2005]: Webtransfer is P2P lending platform for micro loans up to $1000 for up to<br />
30 days. It also allows people to connect socially, share messages, pictures, videos, music, life styles.<br />
Micro Loans<br />
Blossom Finance [Jakarta, 2014]: Blossom, relocated from San Francisco to Jakarta, collects money from<br />
investors who are willing to lend to entrepreneurs. Blossom forwards the fund to a microfinance institution, which<br />
in turn gives the fund to the entrepreneur. After a 12-month investment cycle, Blossom collects profits from the<br />
microfinance institutions and distributes them back to the investors. All the money transfers are via Bitcoin and<br />
investors/ partners are chosen based on Islamic principles.<br />
MoneyVeo [Kiev, ]: Moneyveo is an online microfinancial company in Ukraine. Individuals can borrow upton<br />
8000 UAH.<br />
Micro Loans<br />
Micro Loans -<br />
Direct Lender<br />
Kueski [Guadalajara, 2012]: Kueski is an online, short-term, micro-loan provider for people in Mexican Republic.<br />
It provides loans up to $2,000 MXN for a period of up to 30 days. Thw loan authorization is done with 10 minutes<br />
and fund are disbursed in about 2 hours from the authorization. The company has become the fastest growing<br />
platform of its kind in the region.<br />
$1.3M<br />
CrunchFund, Angel Ventures Peru,<br />
Core Ventures Group<br />
83<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (61/71)<br />
Company Details Funding Investors<br />
Micro Loans -<br />
Direct Lender<br />
Micro Loans -<br />
P2P Marketplace<br />
Micro Loans -<br />
P2P Marketplace<br />
Makanda Finance [Gauteng, 2010]: Makanda finance is a direct lender in South Africa. It short term online<br />
loans ranging from R150 - R5000 and up to 3 months.<br />
Kiva [San Francisco, 2005]: Kiva is a nonprofit, personal micro-lending site that facilitates loans between<br />
lenders and low-income entrepreneurs in developing countries, using local lending companies and organizations<br />
as intermediaries. Lenders can find the business and entrepreneur they want to lend to based on region,<br />
business type, risk level, etc. Kiva runs on donations provided by the site's users. Since inception in 2005, Kiva<br />
has raised over $9 million dollars from angel investors and grants.<br />
Milaap Social Ventures [Bangalore, 2010]: Milaap is an online fundraising platform that enables people around<br />
the world to fund and impact communities in need of basic facilities in India. Milaap is the world's first online<br />
microlending platform that enables non-Indians, non-resident Indians (NRIs) to make a loan to India. The loans<br />
are given out to borrowers at interest rates of 12-18%(50% lower than existing interest rates available to<br />
microcredit borrowers.) After the loan has been repaid, it will be returned to lenders as Milaap credits which they<br />
can either withdraw or re-lend to other borrowers.<br />
Micro Loans - GandengTangan.org [Jakarta, 2015]: GandengTangan is a crowdlending platform to access 0% interest loan,<br />
P2P Marketplace connecting high-impact entrepreneurs in Indonesia, as the borrower, with the crowd, as the lenders.<br />
Micro Loans -<br />
P2P Marketplace<br />
Micro Loans -<br />
P2P Marketplace<br />
MicroGraam [Bangalore, 2009]: Online P2P micro-loans lending marketplace platform. Lenders can browse<br />
through the profiles of various borrower profiles and lend amount at a set interest rate return. The borrowers<br />
mainly comprise of rural population such as farmers and local store businesses who are low income borrowers.<br />
The lender will get quarterly repayments into the ‘My MicroGraam’ account. On the supply side, the company's<br />
model includes partnering with individuals, foundations and financial institutions. Claims of 100% repayment rate<br />
till date.<br />
p2p Microfinance [Pilani, 2010]: The aim of p2p Microfinance is to connect financially deprived people in to<br />
mainstream credit via platform through which socially conscious investors can lend money to low-income<br />
borrowers. Various NGOs and other institutions also have access to upload the profile of selected poor<br />
entrepreneurs on the website. The lender can stand guarantee to a certain amount and lend at interest rates of<br />
about 12 to 15 percent.<br />
$9M<br />
$1.4M<br />
First Light Ventures, Unitus Seed<br />
Fund, Jungle Ventures, LionRock<br />
Capital (Hong Kong)<br />
Villgro Innovations Foundation<br />
84<br />
Alternative Lending Report, December 2015
Consumer Loans (62/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Micro Loans -<br />
P2P Marketplace<br />
Micro Loans -<br />
P2P Marketplace<br />
Micro Loans -<br />
P2P Marketplace<br />
WeCareIndia [Gulbarga, 2011]: WeCareIndia is an online platform which allows registered lenders to lend<br />
money to poor people. Borrowers return the money and the lenders get an interest on their investment based on<br />
the repayment schedule of the borrower.<br />
RangDe [Bangalore, 2008]: Rang De is a non-profit organisation that allows individuals to lend money to<br />
Indians from low income households that require a small amount of money (microloans) to start or grow a<br />
business. Money can be lent in the form of a social investment through Rang De's on line portal. Rang De<br />
disburses loans to its borrowers through its field partners (usually NGOs) across India. Social investments will be<br />
repaid with interest at the end of a loan tenure (typically one or two years). Raised funding from Tata Trusts in<br />
September, 2015.<br />
MyC4 [Copenhagen, 2006]: MyC4 provides an online lending platform for investors to lend microloans to<br />
businesses in Africa. An investor signs-up on the platform and uploads money in their account. An investor can<br />
then browse through different loan queries and invest in the loans they prefer. The minimum investment amount<br />
is €5.<br />
Micro Loans -<br />
P2P Marketplace<br />
Kubaru Microfinance [London, 2011]: Kubaru is an online, P2P, micro-lending platform enabling lenders to<br />
support entrepreneurs in locations recovering from disasters such as natural disasters, man-made disasters or<br />
naturally occurring situations like draught/famines/floods etc. It allows users to lend as little as £10 to enable<br />
borrowers to start/expand their business. There is no upper limit on the amount that can be lent through the<br />
platform, and borrowers from developing countries are charged an interest rate between 15-30%.<br />
Micro Loans -<br />
P2P Marketplace<br />
LendFu [San Francisco, 2013]: LendFu is an online lending marketplace that invites retail investors to fund<br />
loans and borrowers to apply for personal and payday loans. The platform offers micro-credit worth up to $1,000,<br />
for a term not exceeding 6 months. Lendfu levies several fees on every application such as schedule fee,<br />
transaction fee, payment fee, late fee, and more.<br />
85<br />
Alternative Lending Report, December 2015
Consumer Loans (63/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Micro Loans -<br />
P2P Marketplace<br />
Zidisha [Sterling, 2009]: Zidisha is a peer-to-peer lending service to connect individual lenders directly with<br />
microfinance borrowers in low-income countries. Zidisha is based on the conviction that small-scale<br />
entrepreneurs in developing countries are capable of interacting responsibly with peer-to-peer lenders via a selfregulating<br />
web platform, without needing local intermediaries to communicate and manage loan transactions on<br />
their behalf. The loan applications and comments posted on Zidisha’s loan pages are written by the borrowers<br />
themselves. This opens the way for dialogue between lenders and borrowers, so that lenders can receive<br />
answers to their inquiries about the loan and business directly from the entrepreneur they are funding. The<br />
average Zidisha borrower pays only about 8% (flat rate) in annual interest and fees, including interest paid out to<br />
lenders.<br />
Y Combinator<br />
Asset Backed<br />
Loans<br />
Pinjam [Jakarta, 2015]: Pinjam Indonesia is online platform which offers loans against collateral. They have<br />
online realtime valuation technology, pick up services to eliminate face to face transaction, and flexible credit time<br />
with 0.7% weekly basis fee. Currently they accept electronics (Handphone, Laptop, Tablet PC and camera),<br />
Vehicle such as motorcycle and car, Gold, Jewellery and Diamonds, and will accept personal luxury items such<br />
as watches and branded bags.<br />
Prendamovil [Mexico City, 2012]: Prendamovil provides immediate personal loans, from $ 5,000 to $ 500,000<br />
pesos in just 50 minutes with the warranty of your car.<br />
Asset Backed<br />
Loans<br />
Asset Backed<br />
Loans<br />
Valendo [Berlin, 2015]: Valendo provides loans on high-value assets. These include in particular precious<br />
stones, precious metals, luxury watches and high-quality gold and diamond jewelery. Thus it helps to develop a<br />
customized solution to provide borrowers with a quick, easy and discreet the desired liquidity, without having to<br />
sell assets.<br />
86<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (64/71)<br />
Company Details Funding Investors<br />
Asset Backed<br />
Loans<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
PawnHero [Manila, 2014]: PawnHero is online pawn shop in the Philippines which provides a convenient way of<br />
overcoming short-term cash needs once customers decide to pawn their valuable pre-loved items. Customer<br />
needs to upload pictures of the item and describe the item. The system will give an appraisal within minutes.<br />
Upon acceptance of PawnHero’s estimate, the user can either schedule a pickup via 2GO Express, or drop off<br />
the item at the nearest 2GO Express branch. At pickup, the user is provided with a free PawnHero Card from<br />
Security Bank, through which the loan is paid out. When the user repays the loan, the item is shipped back fully<br />
insured and free of shipping charge.<br />
Borro [London, 2008]: Borro offers loans on your luxury assets such as watches, classic cars, fine art &<br />
antiques, jewelry, diamonds, gold and more. The fast, private and secure way to unlock the value of luxury<br />
assets.<br />
Pawngo [Denver, 2011]: Pawngo is an alternate lending platform that allows borrowers to pawn their personal<br />
items for money. Pawngo provides a relatively simpler process of borrowing, as it does not use any credit scores<br />
and other criteria that are usually checked during the lending process. Pawngo charges a monthly interest which<br />
is directly absorbed from the borrower's bank account. If a borrower defaults, despite restructuring of the loan,<br />
Pawngo attempts to resell the item pawned by the borrower. Pawngo accepts several varieties of items, some of<br />
them include high end jewelry, precious coins and metals, loose diamonds, and more.<br />
PawnUp.com [Montreal, 2011]: PawnUp is an alternative lending platform that offers pawning services to its<br />
customers that are in need of immediate funding. A borrower needs to fill out an application and ship his<br />
valuables to receive a quick quote on the pawn-able value of his item. If the borrower agrees with the quote, the<br />
loan is granted in minutes, and is secured against the valuable provided. PawnUp can offer loans that range from<br />
$2,000 to $2,000,000. The platform charges an interest rate that ranges from 2 - 10%, depending on the loan<br />
amount taken and the period of repayment.<br />
$172M<br />
$2.3M<br />
$0.3M<br />
IMJ Investment Partners Pte.Ltd,<br />
500 Startups, Hatchd Digital<br />
European Founders Fund, Eden<br />
Ventures, Augmentum Capital,<br />
Victory Park Capital, Canaan<br />
Partners, Ribbit Capital,<br />
Rockbridge, Rocket Careers,<br />
OurCrowd<br />
Lightbank, SV Angel<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
On Loan [New York City, 2014]: On Loan is an online lead generation platform for asset backed loans. The<br />
company accepts cars, watches, jewellery, paintings and other luxury assets to extend loans to consumers. It<br />
provides one loan form which is submitted to different lenders for providing a quote on the loan. The borrower<br />
can then select the preferred lender to take the process forward.<br />
87<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Consumer Loans (65/71)<br />
Company Details Funding Investors<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
Luxury Asset Lending [Newport, 2009]: Luxury Asset Lending is an alternative lending platform that provides<br />
short term, asset backed personal loans. The platform offers collateral loans, title loans, and advance sale loans.<br />
Borrowers can borrow up to $10,000,000 as the portal is selective in the assets it considers for security. At the<br />
end of the term of a collateral loan, if the borrower defaults on the loan, the asset provided will be sold to pay the<br />
debt. However, in the case of a default of a title loan, the borrower will be liable to sell the asset and then repay<br />
the debt.<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
Plej [Queenstown, 2015]: Plej is an online pawning service platform that offers short term, asset backed<br />
personal loans. The principal amount lent starts at $1,000 and can extend to $20,000. The interest rates vary<br />
depending upon the loan term and can o up to 10% per month. The platform accepts, gold, diamond jewelry,<br />
precious metals, and luxurious goods as collateral against the loans.<br />
Zillidy [Canada, 2012]: Zillidy is an online pawning service that offers short term, asset backed loans against<br />
collateral provided by borrowers. Zillidy provides loans using a borrower's personal jewelry, watches, precious<br />
metals, gemstones, diamonds and gold as collateral. The principal amount lent begins with $1000 and can rise<br />
up yo $500,000. Zillidy charges an interest rate of 2.99% for the first 12 months and 1.5% for each additional<br />
month.<br />
ePawnMarket [Atlanta, 2011]: ePawnMarket is a online pawning platform that offers short term asset backed<br />
loans to individuals in need of funding. ePawnMarket offers two loan products; pawn loans, title pawn loans.<br />
Customers of the platform are able to borrow money from $200 to $20,000. The interest rates for repayments<br />
start at 2.99% and average at 5.99%. The term for the pawn loans is set at 30 days, at the end of which<br />
borrowers can repay the loan, extend the term, or use the collateral to pay off the loan. The platform currently<br />
operates only in the state of Georgia.<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
White Glove Capital LLC [Chicago, 2013]: White Glove Capital LLC is a Private Asset Lender. The platform<br />
offers loans that are secured by the borrower's asset. The assets accepted by the platform are usually big ticket<br />
and luxury items such as Luxury & Classic Cars, Jewelry & Watches, Precious Metals, Fine Art &<br />
Antiques, and more. White Glove Capital can provide discreet term loans for an amount up to $2,000,000.<br />
88<br />
Alternative Lending Report, December 2015
Consumer Loans (66/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Asset Backed<br />
Loans - B2C<br />
Marketplace<br />
Gold Uno [Mumbai, 2015]: Gold Uno is an online gold loan provider. Claims to have partnered with Banks and<br />
NBFCs. Currently in stealth mode.<br />
Asset Backed<br />
Loans - B2C<br />
Marketplace<br />
Asset Backed<br />
Loans - B2C<br />
Marketplace<br />
Asset Backed<br />
Loans - P2P<br />
Marketplace<br />
Asset Backed<br />
Loans - P2P<br />
Marketplace<br />
YieldStreet [New York City, 2014]: YieldStreet ins a online marketplace that enables accredited investors and<br />
hedge funds access to asset-backed investment opportunities. The minimum investment is $5,000 and their<br />
offerings target a yield of 8-25% and are backed by a collateral. Till October, 2015 13 investments have been<br />
funded in the platform.<br />
Rupeek [Bangalore, 2015]: Rupeek is an internet enabled lending platform connecting lenders and borrowers<br />
for gold loans. Registered borrowers specify their loan requirements. The authenticity of the gold is verified by an<br />
agent and a credit risk model is implemented and the money is transferred to the borrower. It claims to offer low<br />
interest rates and paper work.<br />
Unbolted [London, 2014]: Unbolted is a P2P marketplace for short term, asset backed personal loans. The<br />
platform brings together lenders with savings and borrowers with assets to offer as collateral. On Unbolted,<br />
borrowers can apply for a loan worth up to £ 30000 and the amount can increase by 25% if gold is offered as a<br />
collateral. The normal term for a loan is 6 months, which can be extended by paying off all accrued interest<br />
charges, set-up fees and any depreciation in the value of the asset. The platform charges a setup fee for every<br />
loan transaction.<br />
FundingSecure.com [Theale, 2012]: FundingSecure is a Peer to Peer lending platform which allows savers to<br />
fund loans requested by borrowers using an asset as security. The principal amount that can be borrowed starts<br />
from £500 and can go up to £100,000 for a term not exceeding more than six months. The interest rates start at<br />
2.9% and can vary depending on the principal amount borrowed. At the end of the six month period, a borrower<br />
can choose to repay the loan or extend the term by paying the interest amount. If a borrower can't manage to pay<br />
the interest to extend the term, he must use the collateral to repay the debt.<br />
89<br />
Alternative Lending Report, December 2015
Consumer Loans (67/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Asset Backed<br />
Loans - P2P<br />
Marketplace<br />
Asset Backed<br />
Loans - P2P<br />
Marketplace<br />
Healthcare<br />
Loans<br />
MoneyThing [London, 2014]: MoneyThing is a peer to peer lending platform that brings together lenders with<br />
savings and borrowers with assets for fund raising. The lenders lend money against assets provided by the<br />
borrower, the platform permits the lender to raise loans worth 50% of the value of the collateral provided.<br />
Borrowers usually provide titled assets such as automobile vehicles or properties owned.<br />
Wellesley & Co [London, 2013]: Wellesley & Co is a peer to peer lending platform in UK. The firm claims<br />
that it lends its own funds directly to its borrowers in the first instance, before re-assigning the rights and benefits<br />
of the loan, so that the contract for repayment exists between Wellesley and its borrowers. The company also<br />
proposes to mitigate risk further by spreading its entire loan portfolio over all lenders on its platform, automatically<br />
re-matching this spread on a weekly basis as new loans come on. As of October 2015 their website claims that<br />
the platform has lent over £250M.<br />
PrimaHealth Credit [Newport Beach, 2014]: PrimaHealth Credit is a healthcare-focused marketplace lender. It<br />
provides financing options to help patients pay for the procedures from any mobile device and offers a variety of<br />
repayment plans like equal payment plans, no interest equal payment plans, low interest equal payment plans<br />
and minimum payment plans. It also connects with healthcare services providers to help provide financing<br />
options for their patients with flexible repayment options. PrimaHealth Credit also extends practice finance to<br />
healthcare providers for office expansions, equipment purchases, inventory, payroll, or other uses.<br />
$1M<br />
Healthcare<br />
Loans<br />
MediPay Financial Services [New South Wales, 2015]: MediPay offers easy payment plans for medical &<br />
dental procedures. Allows borrowing amount from $2,001 to $30,000. Repayments can be made fortnightly or<br />
monthly by direct debit. Once the loan is approved the company pays doctor directly and securely within 48<br />
hours.<br />
Healthcare<br />
Loans<br />
Crediyo [New York City, 2014]: Crediyo is a lending platform that provides medial loans to consumers. It works<br />
in tandem with doctors to provide point of sale financing to patients. It was incubated by Blueprint Health and<br />
counts Kushagra Saxena as an investor.<br />
90<br />
Alternative Lending Report, December 2015
Consumer Loans (68/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Healthcare<br />
Loans<br />
easymedicalloan.com [Tustin, ]: Easymedicalloans.com offers solutions to medical practices for their patients<br />
who need financing for medical procedures. They partner with funding sources with flexible options to offer<br />
financing. Their finance programs are designed to work with patients who have less than perfect credit. It offers<br />
loan to a maximum limit of $30,000. Thei financing programs include cosmetic, bariatric, IVF and dental surgery.<br />
They even finance pet's medical treatment.<br />
Healthcare<br />
Loans<br />
Healthcare<br />
Loans - B2C<br />
Marketplace<br />
Healthcare<br />
Loans - B2C<br />
Marketplace<br />
Fertility Funds [New York City, 2013]: Fertility Funds provides flexible financing solutions for women seeking<br />
fertility procedures including Assisted Reproductive Technology procedures such as IVF, Egg Freezing,<br />
Surrogacy, etc. It offers loans between $2,000 and $35,000 at an interest rate starting from 6.73% APR.<br />
United Medical Credit [Santa Ana, 2011]: United Medical Credit is a lending platform that connects patients<br />
with lenders by establishing and managing relationships with thousands of provider offices nationwide. It helps in<br />
financing for various procedures like general health care, cosmetic surgery, bariatric and fertility and many more.<br />
UMC’s healthcare provider network consists of practices in the cosmetic, dentistry, fertility, bariatric, general<br />
medical and other healthcare verticals. Through its extensive network of lenders, United Medical Credit offers<br />
healthcare providers financing solutions for Prime and Sub-Prime patients resulting in the highest approval rates.<br />
AmicCARE [Beverly Hills, 2014]: AmicCARE provides P2P lending platform for personal loans (primarily<br />
healthcare loans) for a loan tenure of 3 and 5 years. It offers loans for different purposes including healthcare<br />
procedures, debt consolidation, home improvements, purchase loans and car financing. AmicCARE charges a<br />
1% loan origination fee to the healthcare provider. It works with lenders who offer fixed rate financing with a fixed<br />
term length.<br />
Auto Loans -<br />
B2C Marketplace<br />
DriverUp [Austin, 2015]: DriverUp is a US based online marketplace for automotive financing and is backed by<br />
Sierra Auto Finance. It allows accredited investors to invest in a different loans at various auto dealers. At the<br />
dealership, the dealer enters the buyer's information in the database which is then processes by DriverUp and<br />
initiates the funding from different investors. Once the loan application is authorized and financed, the dealer<br />
completes the sales process at the dealership including the paperwork and trade-ins and the money is<br />
transferred to their account.<br />
$70M<br />
RRE Ventures, Emerald<br />
Development Managers LP<br />
91<br />
Alternative Lending Report, December 2015
Consumer Loans (69/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Auto Loans -<br />
B2C Marketplace<br />
Credit Builder<br />
Loans<br />
Credit Builder<br />
Loans<br />
Credit Builder<br />
Loans<br />
Credit Builder<br />
Loans<br />
AutoFi [San Francisco, 2015]: AutoFi is an auto finance platform for consumers that automates the process for<br />
applying and closing an auto loan all online. It gives institutional investors direct access to consumer auto loans.<br />
SelfScore [Palo Alto, 2013]: SelfScore offers US credit to international students who do not have a credit history.<br />
It measures their creditworthiness using alternative data and methods via proprietary framework and algorithms. It<br />
determine students’ ability to repay using predictive attributes such as education, major, cost of education, source<br />
of initial funding, future employability, and other objective measures (e.g. places, times, graphs). By recurring<br />
usage of the credit card and periodic payments, these students are able to build a credit history for future<br />
requirements. Received seed funding in Dec 2014. Its investors are Aspect Ventures, Accel Partners, Pelion<br />
Venture Partners, Fenway Summer Venture Capital, Sparklabs Global Ventures.<br />
Self Lender [Denver, 2014]: Self Lender is an online platform that allows users to create a custom loan and<br />
make payment towards the same to help them build their credit history. A user can create a loan and make<br />
monthly payments for the same for a loan tenure ranging from 6-36 months. When the user makes periodic<br />
payments, Self Lender reports the same to the credit bureaus thus positively updating the user's credit profile. At<br />
the end of the period, the user is paid the principal amount back along with the interest. Self Lender charges a<br />
user $5 per month as subscription charges. Self Lender will partner with a bank for originating loans soon and<br />
currently has about 15,000 users.<br />
Float [Los Angeles, 2014]: Float allows users to pro-actively build credit by issuing them an unsecured line of<br />
credit through its Visa branded credit card, based on income, expenses, spending, and the amount of risk a<br />
person is willing to assume. It offers consumers an application that creates FDIC insured deposit accounts and a<br />
financing solution that instantly creates and issues credit - directly through their smartphone. The loans are<br />
unsecured, thirty day, revolving lines of credit that are highly personalized based on its underwriting algorithms. It<br />
issues the debt through an FDIC insured, Float visa card which can be used by the consumers for in-store<br />
purchases. Float earns revenue from the merchant fee which is charged every time the card is swiped.<br />
ModernLend [New York City, 2014]: ModernLend enables immigrants in the US to build their credit history. It<br />
allows users to create a loan including the tenure and loan amount and service the loan periodically. Once the<br />
user starts repaying the loan, ModernLend reports this in the consumer's credit profile with the credit bureaus. At<br />
the end of the tenure, the consumer gets the money back. ModernLend charges a $5 per month subscription<br />
charges as its revenue.<br />
$2.5M<br />
$7.5M<br />
$2.5M<br />
$0.6M<br />
$40k<br />
500 Startups, Crosslink Capital,<br />
Laconia Ventures, Lerer Hippeau<br />
Ventures, Basset Investment<br />
Group<br />
Silverton Partners, Galvanize,<br />
Kickstart Seed Fund, Techstars<br />
Entrepreneurs Roundtable<br />
Accelerator<br />
92<br />
Alternative Lending Report, December 2015
Consumer Loans (70/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Credit Builder<br />
Loans<br />
Credit Builder<br />
Loans<br />
Credit Fair-e [Louisville, 2015]: Credit Fair-e provides small-dollar loan products that designed to help<br />
borrowers repay the loan, build a strong credit profile and reduce financial stress. All loans are structured as<br />
installment loans which allow the borrower to repay the loan while still meeting other financial needs. Credit Fair-<br />
E is a Kentucky licensed lender.<br />
Credilike [ , 2011]: Credilikeme is a financial company dedicated to personal loans on the internet and social<br />
networks based on trust people, giving youth financial inclusion forming favorable credit histories to obtain better<br />
financial opportunities. It gives short term loans online to millenials. Using gamification and social networking to<br />
encourage users to engage in responsible payback behavior. Credilikeme offers competitive rates which lower as<br />
users complete loans on time.<br />
Credit Card Debt<br />
Refinancing -<br />
B2C<br />
Credit Card Debt<br />
Refinancing -<br />
B2C Marketplace<br />
Payoff [Long Beach, 2009]: Payoff is a technology-enabled, consumer-focused financial services company. It<br />
provides loans to payoff credit card debt.<br />
SimplyCredit [San Francisco, 2015]: Simplycredit enables consumers to consolidate credit card balances<br />
continuously, then we work with community lenders to establish personal lines in which high-cost balances can<br />
be swept and managed. It's a balance transfer for all your cards, but without the transfer fees. Like magic,<br />
balances move every month to another credit line with a better rate at simple interest. You'll earn points and<br />
rewards while paying your debt down faster. Participating lenders receive our back office support, marketing and<br />
risk analytics and online tools for free.<br />
$24.8M<br />
$1.5M<br />
FirstMark Capital, Anthemis Group,<br />
Great Oaks Venture Capital,<br />
Capital R Investments<br />
Blumberg Capital, XSeed Capital<br />
Credit Card Debt<br />
Refinancing -<br />
P2P Marketplace<br />
LENDLIFT [Atlanta, 2012]: LendLift is an online P2P marketplace that connects non-prime credit card borrowers<br />
with individuals who can lend to them at lower interest rates than banks, enabling them to pay down their<br />
principal and eliminate their debt faster and at lower interest rates. It offers loans of up to $3,500 for a loan<br />
tenure of up to 3 years.<br />
93<br />
Alternative Lending Report, December 2015
Consumer Loans (71/71)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Project<br />
Financing<br />
Greenworks Lending [Stamford, 2015]: Greenworks Lending (GWL) is an origination and lending platform for<br />
money- and energy- saving capital upgrades in commercial buildings. GWL utilizes PACE financing so building<br />
owners can access long-term, lower-cost capital. GWL partners with contractors looking to expand the number<br />
and increase the size of projects they complete. GWL also supports and partners with states, counties, and<br />
municipalities interested in promoting economic development, creating jobs, and reducing pollution.<br />
Project<br />
Financing - B2C<br />
Renovate America [San Diego, 2010]: Renovate America provides homeowners with low cost, long term<br />
financing for renewable energy systems and water efficient products. Renovate America partners with local<br />
governments to launch co-branded HERO Programs. Lending capital is provided by private sources, and<br />
payments are collected by the municipalities along with a resident's property taxes. The HERO Program provides<br />
local governments with a no-cost, turnkey solution to implement a PACE program quickly and easily.<br />
$146M<br />
RockPort Capital Partners,<br />
MacQuarie Capital Funds, Spring<br />
Creek Group, Valor Equity<br />
Partners, DFJ Growth<br />
Wedding Loans<br />
Wedlite [Jakarta, 2015]: Based in Indonesia, Wedlite is an online platform to provide loans for the expenses of<br />
the wedding. The loan is financed by the multi lenders of the city for a collateral(generally a vehicle). The multi<br />
lenders disperses the funds directly to the wedding vendors appointed by the wedding couple. The revenue<br />
model is to collect commission amount from the multi financiers. The risk is rested with the multi financiers.<br />
Wedding Loans -<br />
B2C<br />
Promise Financial [New Jersey, 2014]: Promise Financial is an online consumer lending platform focused<br />
exclusively on wedding finance. It provides unsecured loans of up to $35,000 for a loan tenure of 3 years at<br />
interest rates starting at 5.89% APR. Funds can be used for weddings, engagement rings, honeymoons and<br />
other expenses, and are deposited directly to borrower's bank account. It also provides content and advice<br />
related to the financial aspects of wedding planning, including budget tools, a printable wedding checklist, and<br />
our wedding finance blog. The loans for Promise Financial are originated by Cross River Bank.<br />
94<br />
Alternative Lending Report, December 2015
Business Loans (1/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Quick Bridge Funding [Irvine, 2011]: Quick Bridge Funding provides multiple credit solutions to small and<br />
medium businesses so that they may meet their working capital expenses. The platform is an alternative<br />
financing platform that provides solutions such as purchase financing, bridge loans, and more. Quick Bridge also<br />
has a mentoring program to help entrepreneurs that borrow from the platform. Quick Bridge Funding achieved<br />
the Orange County Business Journal’s No. 1 rank based on a 2,236 percent increase in revenue for the 12<br />
months through June 30, 2014, compared with the same period two years earlier.<br />
Endurance Lending Network [San Francisco, 2011]: Endurance Lending Network is a web-based lender<br />
focused on small and medium businesses in the United States. Provide loans of between $25,000 and $500,000<br />
to high-quality entrepreneurs looking for expansion capital, equipment purchases or more general needs. Was<br />
acquired by Funding Circle in Oct 2013.<br />
$35M<br />
$1.5M<br />
Thayer Street Partners<br />
Strategic Funding Source, Inc [New York City, 2006]: Strategic Funding provides alternative financing<br />
solutions such as business cash advance, revenue based finance (ACH), secured business loans, asset based<br />
lending and factoring. It provides financing to a wide range of businesses including retailers, restaurants, hotels,<br />
medical professionals, manufacturers, wholesalers and automotive dealers and suppliers.<br />
Rebirth Financial [New Orleans, 2010]: Rebirth Financial is a platforms providing multiple services to SMBs<br />
including loans, insurance services, merchant processing, payroll management, SEO, marketing and SEM. Its<br />
various credit products include business loans, Peer to business loans, acquisition loans, account receivable<br />
factoring, commercial real estate loans, startup loans, business term loans, lines of credit, SBA loans, merchant<br />
cash advance, franchise loans, equipment financing and 401k financing.<br />
Konfio [Mexico, 2013]: Konfio is an online lending platform that helps micro-businesses in Latin America who<br />
don’t have access to credit obtain affordable loans. It possesses a propriety algorithm that uses technology to<br />
measure creditworthiness.<br />
95<br />
Alternative Lending Report, December 2015
Business Loans (2/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
BondMason [London, 2015]: BondMason is an online P2P lending platform that facilitates lending in UK. It<br />
allows various classes of investors to invest in the loans such as Private Investors, IFAs, Institutional Investors,<br />
Family Offices and hedge funds to invest in various loan products. It also claims to provide secondary<br />
marketplaces for trading loan notes. As of October 2015, the company is awaiting FCA approval.<br />
Term Loans<br />
Credit4 [London, 2013]: Credit4 is a provider of guarantee-backed, flexible lending facilities of between £15,000<br />
and £100,000, for growing UK SMEs. They offer funds for short term cash flow purposes, expansion, investment<br />
in business.<br />
Term Loans<br />
Aprenita [New York City, 2015]: Aprenita is a financing company focused on providing growth capital loans for<br />
mobile app businesses. The platform has an algorithmic rating system that analyzes app store and analytics data<br />
in real-time, enabling to instant lending decisions. Loan sizes are primarily dependent on app portfolio's recent<br />
performance and current marketing spend.<br />
Term Loans<br />
Capital Aid [London, 2015]: Capital Aid helps small business grow through strategic growth loans based on<br />
company performance. They provide crowdfunding bridge, SAAS purchase, and E-Commerce growth loans.<br />
Term Loans<br />
Mekar [Jakarta, 2010]: Based in Indonesia, Mekar started as a platform to match entrepreneurs with business<br />
angels. Post that, it launched a P2P lending web-platform for Micro-Entrepreneurs in Indonesia. Currently it offers<br />
loans to SMEs in Indonesia via a network of entrepreneur agents. These agents are equipped with mobile<br />
devices for loan origination, monitoring and collection.<br />
96<br />
Alternative Lending Report, December 2015
Business Loans (3/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans<br />
Capsurge [Jaipur, 2015]: CapSurge is a marketplace, in which lenders (institutions) can invest and manage<br />
debt products of registered and verified SMEs. Founders are IIT, UC Berkley Alumnus.<br />
Term Loans<br />
Chestnut Loans [Singapore, 2015]: Chestnut empowers small businesses by providing them with access to<br />
affordable loans. Through our unique network-driven lending platform and use of data science to enhance our<br />
credit risk decisioning, we help facilitate a much needed flow of capital towards the small businesses you love.<br />
Term Loans<br />
Capital On Tap [London, 2012]: Capital On Tap provides business loans to SMBs of up to £10,000 for a loan<br />
tenure of up to 10 weeks. The monthly interest rates vary between 0.9% and 5.7%. It also offers invoice<br />
financing to suppliers and allows up to 100% of the total invoice value. The company performs credit check on<br />
the consumers and allows the suppliers a higher credit disbursal to their customers.<br />
Term Loans<br />
Term Loans<br />
Phase Lending [Utah, 2014]: Phase Lending offers business term loans and lines of credit to small businesses.<br />
The term loans range between $5,000 and $250,000 for a tenure of 3-24 months and lines of credit up to $20,000<br />
for a tenure of 6 months. The repayment is a fixed amount which is deducted from the business' account either<br />
on a daily or weekly basis. The loans are backed by a personal guarantee and lien on commercial assets of the<br />
business. It charges 15% of the total loan amount and 2.5% for the first loan as loan origination fee. It requires<br />
the borrower to have $100K in annual sales, a credit score of 500 and 1 year in business. Phase Lending is<br />
backed by Google Ventures and has delivered over $1.7B in loans.<br />
Banjo [Melbourne, 2014]: Banjo is an online lender providing secured and unsecured loans to small business.<br />
It offers loans ranging from A$5,000 to A$500,000 with a 1-6 months of repayment period. As of July 2015, Banjo<br />
hasn't commercially launched its product.<br />
97<br />
Alternative Lending Report, December 2015
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Business Loans (4/55)<br />
Company Details Funding Investors<br />
Term Loans<br />
Lendini LLC [Pennsylvania, 2014]: Lendini is a provider of business loans including business cash advance,<br />
merchant cash advance and small business loans. It offers loans from $1,000 to $2M to businesses which have<br />
completed at least 6 months in business and monthly sales of $5,000. The repayments are as a fixed percentage<br />
of daily sales for a tenure of 4-12 months.<br />
Term Loans<br />
SmartBiz. [San Francisco, 2013]: SmartBiz offers SBA loans to businesses for meeting various needs such as<br />
working capital finance, equipment financing, and more. The platform offer loans for a principal amount that can<br />
range from $5.000 to $350,000 for a term exceeding no more than ten years. All loans are secured by a personal<br />
guarantee provided by the borrower. If a loan is needed to finance equipment purchase, SmartBiz pays off the<br />
vendor directly and places a lien on the asset purchased. SmartBiz is a joint effort of Golden Pacific Bancorp and<br />
Better Finance, Inc.<br />
Term Loans -<br />
Direct Lender<br />
OnDeck [New York City, 2007]: OnDeck (fka OnDeck Capital) is a technology powered lending company for<br />
SMBs. It leverages electronic information including online banking and merchant processing data to identify the<br />
creditworthiness of small businesses. Repayments are made through fixed daily deductions from the business<br />
bank account and the loans are usually secured by liens on business assets and personal guarantee. To date,<br />
OnDeck has deployed over $1B of term loans and working capital to thousands of businesses nationwide. Loans<br />
range from $5k to $250k. In August 2012, the company secured a $100 million credit facility from Goldman Sachs<br />
and Fortress Investment Group. In September 2013 OnDeck announced $130 million in increased credit facility<br />
commitments with assistance from Deutsche Bank, Key Bank and Square 1 Bank.<br />
$198M<br />
Contour Venture Partners, First<br />
Round Capital, Village Ventures,<br />
RRE Ventures, Khosla Ventures,<br />
SF Capital, Sapphire Ventures,<br />
Institutional Venture Partners,<br />
Google Ventures, Industry<br />
Ventures, Tiger Global<br />
Term Loans -<br />
Direct Lender<br />
Orange Money /dba EZBOB [London, 2011]: ezbob provides financing to businesses for up to £120,000 and a<br />
loan tenure of up to 24 months. The customer can apply for the loan online and upload the required documents<br />
on the website. Borrower also has an option of linking their online accounts like PayPal, eBay or Shopify<br />
accounts to provide their credit history. Once the application is approved, the money is transferred to borrower's<br />
account. ezebob is the trading name of Orange Money and it acquired Everline, an online business loan provider<br />
in UK, in January 2015. Everline and ezbob have collectively provided over 6,000 business loans and lent over<br />
£70M to small businesses since their inception in 2012.<br />
$55.5M<br />
Phenomen Ventures, Angel<br />
CoFund, Oaktree Capital<br />
Management<br />
Term Loans -<br />
Direct Lender<br />
iwoca [London, 2011]: iwoca is an online platform for providing unsecured business loans for short term finance<br />
in UK. The loan amount is usually up to the business' one month revenue or for up to £100,000 (or £10,000 for a<br />
startup) for a loan tenure of 1-12 months. iwoca serves a wide range of industries including retailers, restaurants,<br />
hotels and service providers. The loans are usually backed by guarantees from directors of the business.<br />
$32M<br />
Beyond Digital Media, Talis<br />
Capital, Global Founders Capital,<br />
Acton Capital Partners<br />
98<br />
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Business Loans (5/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
Direct Lender<br />
Able Lending [Austin, 2014]: Able is a collaborative lending platform that provides business loans upto<br />
$500,000 USD. Small businesses apply to Able for a loan and upon the acceptance of their application receive a<br />
loan for 75% of the amount. The remaining 25% has to be financed by friends, family and backers of the<br />
business owners. Able collects monthly loan repayments and distributes it (pro-rata) among the creditors. The<br />
interest charge by Able is less than 16% and the credit term is between 1 to 3 years.<br />
$13.2M<br />
Floodgate, Western Technology<br />
Investment, BaseCamp Ventures,<br />
Emerge, Rothenberg Ventures,<br />
TDF Ventures, Founders Fund,<br />
Expansion Venture Capital,<br />
Correlation Ventures, Peterson<br />
Ventures, Brendan Wallace,<br />
Blumberg Capital, RPM Ventures,<br />
Peterson Partners<br />
Term Loans -<br />
Direct Lender<br />
iPawn [Tyler, 2011]: iPawn is an alternative lending platform that offers internet first pawning services to its<br />
customers in need of immediate funding. A borrower needs to fill out an application and ship the asset (collateral)<br />
to receive a quick quote on the loan amount, which varies between 50%-80% of the asset value. If the borrower<br />
agrees with the quote, the loan amount is disbursed in the borrower's account, and is secured against the<br />
valuable provided. iPawn charges a 1% interest rate on all items worth $2,000 and more and a 5% interest on<br />
items that have valuations below $2000. iPawn has several partners that help the platform along the way,<br />
including Ernst Young, FedEx and PayPal.<br />
$8M<br />
Term Loans -<br />
Direct Lender<br />
WBL [New York City, 2011]: World Business Lender is an alternate lending source for the credit needs of<br />
businesses. It offers traditional business loans (from $10,000 to $2M with a maximum tenure of 18 months) and<br />
Business loan of choice (min loan of $100,000 with real estate collateral). Depending on the type of loan products<br />
the repayment terms can vary from daily, weekly, or monthly. It received a provision of debt financing worth $20<br />
million from Harvest Capital Credit Corporation, and Business Development Corporation of America.<br />
$5M<br />
Term Loans -<br />
Direct Lender<br />
QuarterSpot [Wayne, 2011]: Quarterspot is an alternate lending platform for the credit needs of small<br />
businesses. The platform offers credit up to $150,000 which has to repaid within a term of 12 months. Most of the<br />
platform's loans are unsecured as there is funding without a lien filed on the business and funding without a<br />
personal guarantee. There is also no prepayment fee apllied by the Quarterspot.<br />
$2.8M<br />
Term Loans -<br />
Direct Lender<br />
Fundation [New York City, 2011]: Fundation is an alternate lending platform that grants fixed rate, simple<br />
interest loans to businesses. The loans offered are either short term or long term, with the principal amount cap of<br />
$150,000 for the former and a $500,000 for the latter. The interest rates start at 7.99% and vary depending on the<br />
profile of the application. The repayments are charged from the borrower's bank account directly, and there are<br />
no prepayment fees.<br />
$2.7M<br />
Angel Street Capital, LeoGroup,<br />
Garrison Investment Group<br />
99<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (6/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
Direct Lender<br />
Business Backer [Cincinnati, 2007]: The Business Backer is a private alternate lending platform that provides<br />
multiple solutions to the credit needs of small and medium businesses. The platform provides a wide range of<br />
products that include term loans, factoring, merchant cash advances, credit lines, and more. The credit<br />
application has been simplified with a few eligibility guidelines mentioned upfront on the website, applicants must<br />
have been in business for at least one year, with an annual revenue of $150,000 or above, and a FICO score of<br />
550.<br />
$0.8M<br />
Term Loans -<br />
Direct Lender<br />
Term Loans -<br />
Direct Lender<br />
Term Loans -<br />
Direct Lender<br />
PowerUp Lending Group [Great Neck, 2008]: PowerUp Lending Group is a direct lender providing small<br />
business loans, merchant cash advance and refinancing existing loans. It funds a minimum loan amount of<br />
$20,000 and fixes interest rates and loan tenure based on the borrower's profile. It requires the business to have<br />
revenue of over $100,000 in the 12 months prior to applying for the funding and also requires a personal<br />
guarantee from the owner. The repayments are done on a daily or weekly basis. The company has so far funded<br />
over $600M of loans.<br />
Global Prosperity NOW [Las Vegas, ]: Global Prosperity NOW is a non-profit organization that provides<br />
microloans to new and established entrepreneurs in the developing world. Their focus is to empower women,<br />
particularly those with children, by giving them the interest-free loans and business training they need to build<br />
and run a business. When the loan is repaid it's put back into the general fund and then lent to another<br />
hardworking entrepreneur. To date repayment has been 98% within 12-18 months of the loan date. It also allows<br />
donations based crowdfunding for various projects.<br />
ProMED [New York City, 2007]: ProMED is an alternative lending platform for healthcare providers. It offers two<br />
main credit products: Merchant Cash Advance and Loan Product. The loan product offers unsecured funding<br />
amount of up to $500,000. ProMED is part of the Rock Ventures Family of Companies which includes Quicken<br />
Loans, Rapid Advance, Fathead, and The Cleveland Cavaliers. It raised $10M in debt financing in February 2012<br />
from Metropolitan Equity Partners.<br />
Term Loans -<br />
Direct Lender<br />
Waddle Australia [New South Wales, 2015]: Waddle is a business financing add-on that uses a business'<br />
accounting app to extend business loan and factoring offers of up to $200,000. It offers "on demand" automated<br />
revolving lines of credit to businesses. The add-on connects to the accounting software to analyse the cash flows<br />
of the firm and pre-qualify the business for suitable loan offers.<br />
100<br />
Alternative Lending Report, December 2015
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Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
Direct Lender<br />
GRP Funding [Springfield, 2007]: GRP Funding provides merchant cash advance and business loans to SMBs<br />
from $5,000 to $1M. The cash advances are linked to a business' future cash flows and the company doesn't<br />
require credit card processing to extend cash advance to businesses.<br />
SOLO Fund Management & Underwriters [Tel Aviv, 2014]: Solo-Fund provides an online lending platform for<br />
business loans between NIS 50,000 to NIS 500,000 for a loan tenure of 6-24 months.<br />
Term Loans -<br />
Direct Lender<br />
Term Loans -<br />
Direct Lender<br />
Term Loans -<br />
Direct Lender<br />
Capify [Cheshire, 1984]: Capiota provides business loans to small and medium-sized enterprises (SMEs) in the<br />
United Kingdom. The company offers loans of up to £150,000 through a fully online platform. Application of<br />
borrowers is processed using data analytics and is completely automated. The company usually takes around 24<br />
hours to approve the loan and disclose the loan amount and between 10 and 14 days to disburse the amount in<br />
the borrower's account. It also allows the borrower to top up their loan once they've paid back 60% of their<br />
original loan amount. Once the repayment starts the company takes a cut of all the sales of the retailers. Capiota<br />
raised a £30m credit line in October, 2013.<br />
Snap Capital [Charleston, 2012]: SnapCap is an alternate lending platform that provides loans for multiple<br />
purposes to business owners. SnapCap loans are unsecured and the platform does not factor FICO scores while<br />
screening applications. Loans offered are classified as General Purpose, Expansion, Inventory, Equipment.<br />
Additionally, SnapCap differentiates itself by not considering factors such as number of years in operations,<br />
annual revenue amount, and more.<br />
Term Loans -<br />
Direct Lender<br />
BondIt [Beverly Hills, 2014]: BondIt is an alternate lending platform that provides turn key solutions to<br />
entertainment projects. The platform offers funding services such as bridge loans, tax rebates, pre-sales &<br />
minimum guarantees financing, and more. BondIt has also partnered with BUFFALO 8 — a full-service media<br />
house specializing in film & commercial production and equipped with complete post production facilities.<br />
101<br />
Alternative Lending Report, December 2015
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Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
B2C<br />
Prospa [New South Wales, 2012]: Prospa provides unsecured business loans to Australian small businesses. It<br />
offers loans from $5,000 to $250,000 for a loan tenure of up to 12 months. The company has so far financed<br />
over A$70M worth of SMB loans. In September 2015, the company received a A$60M commitment form Carlyle,<br />
IronBridge Capital, Airtree and Entree Capital for a $10M funding and $50M in securitization.<br />
$70M<br />
Carlyle Group, Ironbridge Equity<br />
Partners, Entree Capital, AirTree<br />
Ventures<br />
Term Loans -<br />
B2C<br />
Credibility Capital [New York City, 2013]: Credibility Capital provides an online platform for SMB loans by<br />
matching institutional lenders with business owners seeking to borrow $10,000 - $150,000. The borrowers on the<br />
platform are sources by Dun & Bradstreet. The company does its own underwriting for the borrowers.<br />
Term Loans -<br />
B2C<br />
Credibly [Michigan, 2010]: Credibly (fka RetailCapital LLC) is an online platform that provides secured and<br />
unsecured business loans of up to $250,000 in the form of business loans, merchant cash advance, business<br />
credit cards, fast cash advance, line of credit working capital financing, small business loans. With business<br />
loans, businesses pay a fixed amount every day as compared to merchant cash advance where businesses pay<br />
a fixed proportion of their daily sales. The company was rated as 35th fastest growing privately owned company<br />
in Inc.5000 list. All loans obtained through Credibly are made by WebBank, a Utah-chartered industrial bank.<br />
Term Loans -<br />
B2C<br />
Start Up Loans [London, 2012]: Startup Loans UK provides business loans, up to £25,000 for a tenure of 1-5<br />
years, to startups. It is a government funded initiative that works with £330M of government funding and various<br />
delivery agents to disburse loans to the companies. The borrower firm should be trading for at least 2 years to be<br />
eligible for the loan. Some of its corporate partners include PayPal, Regus, eBay, Intuit and Flyerzone.<br />
Term Loans -<br />
B2C<br />
AmeriMerchant [New York City, 2002]: AmeriMerchant is a US based provider of small business loans,<br />
merchant cash advance and inventory purchase programs. It offers business loans between $5,000 and<br />
$500,000 for working capital needs of the businesses. The merchant cash advance program works on income<br />
share agreements wherein AmeriMerchant buys a proportion of future credit cards sales of the merchants in lieu<br />
of the cash advance. If offers inventory purchase programs in which it liaises with the seller for payment related<br />
to the inventory and then receives daily repayments from the merchant.<br />
102<br />
Alternative Lending Report, December 2015
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Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
B2C<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
RapidAdvance [Bethesda, 2008]: Rapid Advance offers multiple credit solutions to small businesses that are in<br />
need of funds. The solutions on offer include preferred rate loans, small business loans, line of credit, merchant<br />
cash advance, and more. The platforms serves small businesses such as auto repair shops, salons, restaurants,<br />
medical practices, etc. Some of Rapid Advance's partners include commercial finance programs, community<br />
banks, business finance brokers, and Credit Card Processors ISO's.<br />
Biz2Credit [New York City, 2007]: Biz2Credit is a multi solution credit source for small businesses. The platform<br />
offers credit products such as SBA loans, traditional bank loans, business lines of credit, equipment financing,<br />
business acquisition loans, commercial real estate loans, refinancing and merchant cash advances. The amount<br />
borrowed from the platform can rage from $5,000 to $5M. Biz2Credit charges borrowers an underwriting fee once<br />
a loan has been successfully granted. Biz2Credit has arranged for $1.2 billion worth of credit for over 100,000<br />
companies. In 2014, Direct Lending Investment announced it will invest $250 million into Biz2Credit over the<br />
coming three years.<br />
Lendio [South Jordan, 2006]: Lendio (earlier known as Funding Universe) is a small business lending<br />
marketplace that helps business owners secure financing. It offers a range of business loans including traditional<br />
term loans, short term loans, line of credit, startup loans, equipment financing, business financing, SBA loans,<br />
account receivables factoring, acquisition loan, cash advance, real estate micro loan, P2P loan, franchise loan<br />
and business loans for women. Raised $2M in debt in June 2011 from Square1 Financials.<br />
Bond Street [New York City, 2013]: Bond Street is an alternate lending platform for providing credit to small<br />
businesses. The principal lent can range from $50,000 to $500,000 with a term that is no longer than 3 years.<br />
The rates start at 6% and vary with the profile of every application. The platform secures the loan against the<br />
assets of the business and the personal guarantee provided by the borrower. The loans are financed by the<br />
institutional investors and the accredited investors that have partnered with BondStreet. Bondstreet has raised<br />
$110 million in debt financing from Spark Capital, and Jeffries.<br />
Dealstruck [San Diego, 2012]: Dealstruck is a lending platform that offers multiple solutions to the credit needs<br />
of small businesses. It has on offer, products such as Inventory Line of Credit, Custom Term Loans, A/R Based<br />
Line of Credit, and more. The principal amount lent usually ranges from $50,000 to $500,000, the portal charges<br />
a loan servicing fee along with interest on the amount lent. It currently allows institutional and accredited<br />
investors to invest on the platform. The platform has sufficient technical infrastructure to make the entire loan<br />
application process online with underwriting services included.The platform has raised venture funding to the<br />
tune of $8.3 million USD, as well as a $50 million credit facility.<br />
$250M Brendan Ross<br />
$31M<br />
$12.2M<br />
$9.5M<br />
Highway 12 Ventures, Tribeca<br />
Venture Partners, Runa Capital,<br />
Pivot Holdings, North Hill Ventures,<br />
Blumberg Capital, Napier Park<br />
Global Capital<br />
Jefferies Group, Spark Capital<br />
Blackbird Ventures, Peterson<br />
Partners, Trinity Ventures<br />
103<br />
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Company Details Funding Investors<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Raiseworks [New York City, 2013]: Raiseworks is an online lending marketplace which connects SMBs with<br />
institutional investors willing to invest money. The platform offers loans for up to $250,000, with terms ranging<br />
from 4-36 months long. Only businesses that been operational for at least 9 months are eligible to apply for<br />
loans, applications are subject to other screening criteria as well. The loans are often secured by the borrower<br />
providing a personal guarantee or a liability that extend to the assets of the business. The portal does not charge<br />
an application fee.<br />
Funding Tree Ltd [London, 2013]: Funding Tree is the UK-based hybrid equity crowdfunding and peer to peer<br />
lending platform directly authorized and regulated by the Financial Conduct Authority. It helps businesses at<br />
every stage of their life cycle, from raising equity for their new venture to offering peer to peer lending to fund their<br />
expansion, Funding Tree helps business start ups and established businesses raise finance from a network of<br />
investors looking for good returns on their investments. It only allows Everyday (Restricted) Investor, Advised<br />
Investor, Sophisticated Investor or High Net worth individual to invest through its platform.<br />
TUTRIPLEA FINANCE [Golmayo, 2013]: MyTripleA is a provider of business funding platform for SMEs,<br />
freelancers and entrepreneurs. The money is lent by private investors or companies. It is licensed as a payment<br />
institution and comes under the purview of Bank of Spain. The borrower registers on the website and puts up the<br />
detailed description of the loan amount and purpose. If the loan fails to achieve at least 90% of funding, the<br />
money is returned to the investors' account. The interest rates on the loans vary between 1.5% to 25%.<br />
MyTripleA charges between 0.3% and 4% of the loan amount once the loan is funded and between 0.2% and 3%<br />
annually based on the capital outstanding. The platform extends both unsecured and insured loans to local<br />
SMEs. GLIF invested €445,500 in the company in April for a 9.9% stake and has also committed to sourcing<br />
funding for €10 million of loans made through MytripleA, while other private investors have committed a<br />
further €4 million for the same purpose. MyTripleA also has a partnership with the Spanish Confederation of<br />
Small and Medium Enterprises which will endorse MyTripleAs services to over 2 million SMBs in Spain.<br />
Funding Wonder, Inc. [New York City, 2013]: Funding Wonder is an online lending platform that allows<br />
accredited investors provide financing to small businesses. The businesses can borrow between $20,000 and<br />
$200,000 for a loan tenure of 1-5 years and interest rates between 7% to 19%. It performs a due diligence on the<br />
business, before allowing them to upload the loan application on the platform, on the basis of which businesses<br />
are assigned a rating between A+ to C-. The loans are secured by personal guarantees and/or lien on the assets<br />
of businesses. Funding Wonder charges a one-time fee for loan postings and a subscription fee from the<br />
borrowers. The borrowers are from a diverse set of industries including medical, health and fitness, hospitality<br />
and other services.<br />
$1.5M<br />
$1.3M<br />
$1M GLI Finance Limited<br />
$0.5M<br />
104<br />
Alternative Lending Report, December 2015
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Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
B2C Marketplace<br />
Becual [Santiago, 2014]: Becual is an online P2P lending platform facilitating business loans. A borrower<br />
uploads the loan listing on the website with the loan amount, tenure and rate. Investors can then choose the loan<br />
they would like to invest in and transfer the preferred amount. An investor has to invest a minimum of $100,000 in<br />
Becual coins which are needed to take part in the auction. It offer four types of credit loans for borrowers: 1.<br />
Credit A: Amortized over time; 2. Credit B: Bullet principal payment, periodic interest payments; 3. Credit C:<br />
Principal and interest as bullet payments; 4. Credit F: Lending secured against invoices. Investor can also sell<br />
their investment or a part of it at any time to new investors.<br />
$0.1M<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
IntooBR [Sao Paulo, 2013]: The Intoo is a B2B platform that connects small businesses to banks and investors.<br />
Uses the concept of supply chain finance to organize the information supply chains, helping large purchasing<br />
companies to facilitate the financing of its suppliers.<br />
Lendinero [Miami, 2012]: Lendinero is an alternate lending platform that provides multiple credit solutions to<br />
business owners. Lendinero offers credit products such as prime loan, line of credit, cash advance, and more.<br />
The principal amount lent can rise up to $2,000,000 USD with a term not exceeding 24 months. The loans are<br />
available to businesses that have at least one year of operational experience, an annual revenue that exceeds<br />
$10,000, and are based in United States. The repayments are periodical and can be daily, weekly, or monthly.<br />
Lendinero is a subsidiary of KGFA Capital Ventures LLC.<br />
$0.1M<br />
$30k<br />
Monashees Capital<br />
Term Loans -<br />
B2C Marketplace<br />
YesGrowth [London, 2013]: YesGrowth is a lending platform for UK business loans offering unsecured loans of<br />
£25k to £250k from 3 to 12 months. It allows private, sophisticated investors to invest in their syndicated loans<br />
through their CB Growth Fund.<br />
Term Loans -<br />
B2C Marketplace<br />
UK Bond Network [London, 2013]: UK Bond Network links high net worth and sophisticated individuals as well<br />
as institutional investors and wealth managers with pre-vetted UK business borrowers through an online bond<br />
auction platform. Businesses can access finance between £500k and £4M.<br />
105<br />
Alternative Lending Report, December 2015
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Company Details Funding Investors<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
LendingTap [New Jersey, 2015]: LendingTap helps small & medium sized businesses secure fast &<br />
competitive financing. Service is free for clients and the company is compensated by lending partners if and when<br />
LendingTap facilitates successful funding transactions. Partners offer flexible capital options, typically ranging from<br />
as little as $25,000 to as high as $500,000.<br />
SMELending [Bangalore, 2015]: smelending.com is a lending marketplace that is connecting the buyers,<br />
business sellers and lenders to create a more efficient way of distributing capital than conventional means. It<br />
claims that the uniqueness of the marketplae arises from getting access to non-traditional data points from the<br />
business process of buying and paying. These data points digitized and embedded into the lending process helps<br />
in reducing the operational risk & costs of lending. Through the marketplace, whenever a buyer is purchasing<br />
goods or services from a seller, they can opt to pay through smelending.com whereby they are extended a shortterm<br />
credit instantly.Smelending.com is a business initiative of Innoviti Payment Solutions. It also claims to be<br />
present in 30+ cities and distribute 400 loans daily with Rs. 400 crores distributed annually and claims to have<br />
20,000 registered buyers.<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
InstaKash [Bangalore, 2014]: Instakash aims to empower small businesses using the lending platform. They are<br />
currently offering terms loans and line of credit to small businesses and car owners who are partnered with Ola,<br />
Uber, Taxiforsure or Meru. Claims that the application process can be completed in minutes and loan is processed<br />
in 72 hours.<br />
SMEFinancemart [Gurgaon, 2014]: SMEFinancemart is a web based venture that enables MSMEs to access<br />
funding and government schemes. The company works as a business advisory platform where it helps facilitation<br />
of timely credit flow to micro & small businesses. It assesses the needs of MSMEs and in consultation with<br />
them chooses the most appropriate product and suitable lenders who have the matching risk appetite. It further<br />
submits a quality application to the lender for loan sanction.<br />
Namaste Credit [Bangalore, 2014]: Online maketplace for business loans which matches funding needs of<br />
businesses with lenders. The platform helps with rating the business and submitting the required information and<br />
paperwork to multiple lenders in order to get approval for then needed capital. Also offers a customizable financing<br />
program for businesses with less than perfect credit score. Uses its risk scoring algorithm to match borrowers to<br />
financial in a secure environment.<br />
106<br />
Alternative Lending Report, December 2015
Business Loans (13/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
ZoukLoans [Delhi, 2015]: ZoukLoans claims to be working towards consolidating the Indian SME credit markets<br />
through the use of technology and credit underwriting processes. It claims to offer collateral-free working capital<br />
and customized secured loans for businesses.<br />
Indifi [Gurgaon, 2015]: Indifi is a SME lending platform which aims to connect small businesses with formal<br />
lending institutions and enable disbursements within four days from application. It collects a fee for the services<br />
provided to lenders – from marketing, to data collection and analysis, and on-ground documentation and<br />
verification. Claims to have partnered with travel and ticketing platform, cab aggregator and ecommerce<br />
company. It has raised funding from Accel Partners, Elevar Equity, Pramod Bhasin, Rajan Anandan, Gaurav<br />
Dalmia, Abhishek Goyal, Gagan Hasteer and Arun Tadanki.<br />
SMEcorner [Mumbai, 2014]: SMEcorner is an online platform that enables SMEs to avail of loans from banks<br />
and NBFCs. Users can select the type of loan on the platform and fill out the application form post which<br />
documents are picked up by the company which are sent out to banks. Users can track their application on the<br />
platform.<br />
Accel Partners, Elevar Equity<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
BeckOn [Delhi, 2015]: BeckOn is a platform which ensures credit availability to MSME segment, which have<br />
been hitherto finding it difficult to access credit. It is currently under development as of October 2015.<br />
New Union [Singapore, 2013]: Based in Singapore, New Union is a Business Financing Platform where local<br />
businesses seeking short-term financing connect with individuals and businesses seeking short-term<br />
investments. New Union raises funds from accredited investors and institutional investors. SMEs usually obtain<br />
loans at interest rates as low as 8% per annum, supported by one or more investors usually within 2 weeks from<br />
the application date. As of October 2015, New Union has handled financing of more than S$168 million across<br />
Asia to over 500 SMEs.<br />
Term Loans -<br />
B2C Marketplace<br />
CreditPlace [Tel Aviv, 2013]: CreditPlace is Israel-based peer-to-peer lending marketplace. It allows high<br />
quality businesses and sophisticated investors to engage directly while reducing the credit costs for businesses<br />
and allowing investors to improve their return on funds by cutting out the middle-man.<br />
107<br />
Alternative Lending Report, December 2015
Business Loans (14/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
ThinCats [Sydney, 2014]: Peer-to-Business lending platform ThinCats Australia connects wholesale investors<br />
with SME borrowers across Australia. ThinCats Australia operates under an Australian financial services licence<br />
and is 25% owned by ThinCats UK.<br />
LiftForward [New York City, 2013]: LiftForward operates a marketplace loan platform which provides loans to<br />
small businesses and high yielding debt products to investors. Investors on the platform range from hedge funds<br />
to asset managers. Businesses are able to borrow up to $1 million per transaction for asset purchases, purchase<br />
order financing, or working capital. LiftForward partners with suppliers, retailers and manufacturers in order to<br />
provide financing to their small business customers.<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Emerging Crowd [London, 2014]: Emerging Crowd Ltd is a UK based global crowdfunding and investment<br />
platform focused on unlisted growth-stage companies in emerging and frontier markets. It is headquartered in<br />
London and is focussed on selected regions that have demonstrated economic and political stability, a reliable<br />
investor protection framework, legal and regulatory certainty, transparency and market integrity. It is open only to<br />
accredited investors.<br />
Crowd Financial [London, 2014]: Crowd Financial is an online platform for marketplace lending and direct<br />
venture capital investment. It offers investment opportunities to venture capitalist to invest in high growth<br />
companies from lead origination networks and also offers complete deal management and flow process<br />
reporting. For marketplace lending it extends market intelligence, order management and post-trade services.<br />
Term Loans -<br />
B2C Marketplace<br />
SME Capital [London, 2014]: SME Capital is debt funding platform matching institutional investors with<br />
successful and established private companies at the larger end of the SME space. It provides a fully integrated<br />
solution to its clients by providing a loan servicing tool to borrowers and a loan origination, management and<br />
monitoring suite to investors together with full credit disclosures.<br />
108<br />
Alternative Lending Report, December 2015
Business Loans (15/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Fundbird [ , 2014]: Fundbird is an online lending marketplace for business loans. It facilitates secured and<br />
unsecured business loans, asset finance, property loans, trade finance, invoice financing, equity crowd funding,<br />
P2P loans, lease financing and merchant cash advance. It serves a variety of industries such as retail, business,<br />
hospitality, construction, real estate and healthcare. Banks and alternative lenders act as lenders on the platform.<br />
Company's operations are free for borrowers and it charges fee from the lenders.<br />
Bolstr [Illinois, 2011]: Bolstr provides income sharing based financing to businesses in need of capital by<br />
inviting accredited investors to invest on the platform. According to the agreement, once the funding has been<br />
disbursed business pays a fixed percentage of their monthly revenue to investors at the end of each month till the<br />
time all of the loan has been repaid. Once the business submit the required details to the platform, the deal is<br />
listed on the marketplace and investors are invited to commit capital on the deals. When the total commitment<br />
has been achieved, the deal is taken off the marketplace and money is disbursed to the borrowers.<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
ThinCats [Tamworth, 2010]: Thincats is an online peer to peer lending platform for secured business loans<br />
between £50,000 to £3M. The platform organizes an auction where screened businesses, puts up their loan<br />
application for investors to bid on. It only allows experienced private investors, companies, pension funds and<br />
institutions to lend on its platform. The minimum investment amount is £1,000. The platform also provides a<br />
secondary marketplace for investors to access their invested money before maturity.<br />
CommLoan [ , 2014]: Comm Loan provides an online platform that matches potential borrowers with lenders<br />
such as banks, credit unions, insurance companies, commercial mortgage companies, private money lenders<br />
and other financial institutions. It has a CUPID platform that provides varied services, to lending institutions, like<br />
social media and private label marketing of the firm, personalized website, centralized processing, pricing engine<br />
and an automated underwriting system. A range of loans can be accessed on its website including first mortgage,<br />
second mortgage, lines of credit, bridge loans and mezzanine financing.<br />
LendingYard [New South Wales, 2013]: Lending Post is an online lending platform for business owners and<br />
property developers. It provides cash flow financing needs for business owners including secured short term<br />
finance, invoice financing, factoring, purchase order finance, export finance, equipment financing, automotive<br />
financing, commercial financing for investment or commercial property purchase. Once a business is verified and<br />
the loan request is uploaded on the marketplace, Lending Yard then matches the loan request to lenders and<br />
allows the borrower to either accept the loan terms when the loan is fully committed or wait for 30 days to get<br />
more competitive rates.<br />
109<br />
Alternative Lending Report, December 2015
Business Loans (16/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
B2C Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
PaperStreet [London, 2013]: The Paper Street is an online platform that allows businesses to connect with<br />
potential lenders through social networking platforms like Facebook, Linkedin and Twitter. It allows companies to<br />
borrow at flexible interest rates and payment terms. Repayment can be done in cash, products, services and<br />
even discounts on products and services. Lenders create their profile on the platform, link their social network<br />
account to their profile and invite customers, company management and even previous investors to become<br />
members. They can browse and discover companies that require funding, look for other members that want to<br />
invest, and also discover investment opportunities when companies are issuing loans or bonds.<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Term Loans -<br />
B2C Marketplace<br />
Go2 Business Loans [Southampton, 2015]: Go2 Business Loans is an online marketplace of business loans<br />
for South England based businesses. It offers P2P lending platform which allows businesses to borrow up to<br />
GBP 150,000 for a maximum tenure of 5 years. It charges a fee between 2-5% for the loan origination from the<br />
borrowers and a 1% annual fee from the lenders. It uses the credit score for the borrower from Experian.<br />
FINPOINT [London, 2010]: Finpoint is an online platform which allows SMBs to access financing from<br />
accredited investors such as financial institutions, leasing companies, factoring companies, VC companies,<br />
business angels and family offices. It charges a one-time origination fee of 1-3% and offers financing types such<br />
as investment financing, resource financing, goods financing, factoring, leasing, mezzanine etc. It has so far<br />
financed 84 loans totalling €155 with a further 110 loans totalling €290 million under discussion.<br />
Propellr [ , 2013]: Propellr is a New York-based firm providing alternative asset investments and services to<br />
accredited investors. Propellr sources, analyzes, negotiates and actively manages a portfolio of structured credit<br />
investments secured by commercial real estate. Unlike traditional brokerage houses and crowdfunding platforms,<br />
Propellr aligns itself with investors interests by investing a minimum of 10% of its own money into every deal<br />
Projects are listed for accredit investors to browse through and invest, once the investment requirement is<br />
reached, the deal is structured and investors begin to receive periodic payments until the investment reached<br />
maturity.<br />
Herio Capital [New York City, 2015]: Herio Capital is an alternate lending platform that provides term loans for<br />
small and medium businesses. The platform provides loan for a principal amount up to $100,000 USD with a<br />
term not exceeding 24 months. The repayments options include fixed daily, fixed weekly, and customized<br />
variable payments. All loans are secured through a personal guarantee obtained from the borrower.<br />
110<br />
Alternative Lending Report, December 2015
Business Loans (17/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Funding Circle [London, 2010]: Funding Circle is an online marketplace where people can directly lend to small<br />
businesses. People lend small amounts to multiple creditworthy businesses to spread their risk. In turn, those<br />
businesses borrow from a multitude of people through an auction mechanism to get a lower interest rate.<br />
Lenders are able to loan specifically to businesses in their community or businesses that meet certain criteria,<br />
such as being environmentally friendly. Expanding operations to the US. Acquired LeapPay a payments<br />
company in August 2014 to help save time for any loan approval. Over 33k investors who have lent to<br />
businesses. As of Oct 2014, Funding Circle has facilitated $385 million in loans to small and medium sized firms.<br />
In July 2015 company released a statement stating plans to raise a £150M fund to invest in small businesses<br />
which raise loans on its platform.<br />
Lendix [Paris, 2014]: Lendix is an online marketplace where French SMEs access financing from private and<br />
institutional investors. It selects credit worthy companies that investors can choose to lend to. Only companies<br />
with more than two years of profitable operations can apply. Its loans start from € 30,000 to € 1,000,000 with<br />
maturities ranging from 18 to 60 months and interest rates between 4% and 9% and monthly repayments and<br />
amortisation. All loans are selected, analyzed and presented to the credit committee which decides their rating<br />
and borrowing rate. Projects are then presented on the marketplace where private investors can buy them. It is<br />
backed by Partech Ventures, Banque Wormser, Sycomore, Weber Investissements and Decaus Freres<br />
Investissements.<br />
SoMoLend [Cincinnati, 2011]: SoMoLend was a mobile first platform that allowed small businesses to raise<br />
debt financing from friends, family, customers and local banks. A fully transparent portal that allowed investors to<br />
look into business borrowers in their own neighborhood before making any lending decisions. The company<br />
deadpooled in August, 2014.<br />
$273M<br />
$13.6M<br />
$5.4M<br />
Ribbit Capital, Index Ventures,<br />
Union Square Ventures, Accel<br />
Partners, DST Global, Baillie<br />
Gifford, Temasek<br />
Partech Ventures<br />
CincyTech, North Coast Angel<br />
Fund, Queen City Angels, QED<br />
Investors, Blue Chip Venture<br />
Company, LaunchHouse<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Assetz Capital [Stockport, 2012]: Assetz Capital is a UK based P2P business lender active in the SME finance,<br />
bridging and property development sectors. It offers business term loans, invoice purchase, trade finance,<br />
development finance, property term loans and bridge finance. It provides auto and manual investment options to<br />
its investors. The auto investment platform invests on behalf of the investor on the bases of chosen risk appetite.<br />
All loans are assessed individually and a tangible security taken on all loans.<br />
Crowd2Fund [London, 2014]: Crowd2Fund is crowdfunding platform offering investment portfolio across a<br />
number of debt and equity investment types. Each business is screened before it raises finance on the platform.<br />
It allows an investor to invest in multiple businesses to diversify their risk. It launched a secondary market facility,<br />
the Crowd2Fund Exchange, in May 2015, which allows investors to buy and sell their shares in businesses.<br />
$4.5M<br />
$3.8M<br />
111<br />
Alternative Lending Report, December 2015
Business Loans (18/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
StreetShares [Washington, 2013]: StreetShares is lending platform for American small businesses. It brings<br />
like-minded investors together with small business owners looking for funding to grow. Business owners pitch<br />
their business through a 3-step, mobile-enabled application, and investors compete to fund them through an<br />
auction. The lowest bids combine to form a single loan at the lowest available interest rate. StreetShares lends to<br />
all qualified American small businesses, but has a particular focus on providing veteran business loans.<br />
Linked Finance [Dublin, 2011]: Linked Finance offers P2P lending platform for small business loans between<br />
€5,000 and €50,000. Investors can make bids from €50 to €2,000 on each loan request and choose to apply an<br />
APR of interest of between 5% and 15% each time they bid on a loan request. It also allows investors to bid<br />
multiple times on the same loan request. Linked Finance provides an auto-bid functionality to automate the<br />
bidding by investors. The loans are classified in interest rate bands, such as A1, A, B, C, depending upon the risk<br />
that they include.<br />
$3.7M<br />
$2.8M<br />
Accion<br />
Frontline Ventures<br />
Term Loans -<br />
P2P Marketplace<br />
Crowdcredit [Tokyo, 2013]: Crowdcredit runs a social lending platform bringing capital from Japan to Latin<br />
American. They provide financial products which we collect investment money from personal investors in Japan<br />
and invest that money in credit markets in various countries. Crowdcredit has partnered with originators from<br />
around the world to collect projects requiring funds.<br />
$2.8M<br />
Monex Ventures, ITOCHU<br />
Corporation<br />
Term Loans -<br />
P2P Marketplace<br />
Toborrow [Stockholm, 2013]: Toborrow is an online marketplace for business loans, connecting small and<br />
medium sized companies in need of financing with private and corporate lenders.<br />
$2.4M<br />
Term Loans -<br />
P2P Marketplace<br />
Maneo [ , 2007]: Maneo claims to be first P2P lending company in Japan. Lenders earn 1.5% interest with loans<br />
starting from as low as 10,000 yen to small and medium sized enterprises.The loans are guaranteed by Orix<br />
Credit Corporation which entered into a partnership with Maneo.<br />
$0.8M<br />
J-Seed Ventures, Inc., Yasuda<br />
Enteprise Development Co. Ltd<br />
112<br />
Alternative Lending Report, December 2015
Business Loans (19/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
LendingStar [Kiev, 2013]: LendingStar is peer-to-peer online lending and investment platform where people can<br />
directly lend to business owners worldwide. Lenders are repaid monthly. It allows a minimum investment of $1 for<br />
Ukraine and Vietnam, and $5 for Russia and use local network of financial agents (each country has its own<br />
network).<br />
$0.3M<br />
Imperious Group<br />
Term Loans -<br />
P2P Marketplace<br />
InvestNextDoor [Seattle, 2013]: InvestNextDoor is a peer to business crowdfunding platform that allows<br />
investors to lend to local businesses in their community. All investments are made using promissory notes. The<br />
portal charges investors a service fee of of $25 per investment made. While the pricing for entrepreneurs include<br />
fees for listing, a service fee, and $5 for every investment made.<br />
$100k<br />
Term Loans -<br />
P2P Marketplace<br />
INVESTLY [Tallinn, 2013]: Debt and invoice crowdfinancing platform for small and medium sized businesses in<br />
Europe. It offers a platform on which SMEs can raise funds from multiple investors. The supply and demand set<br />
the final interest rate.<br />
$19.7k<br />
Term Loans -<br />
P2P Marketplace<br />
Community Sourced Capital [Seattle, 2012]: Community Source Capital is a lending platform that leverages<br />
crowdfunding to facilitate zero interest loans for small businesses. The loan amounts are under $50,000 and are<br />
usually applied for by business owners that cannot gain credit from banks or other traditional sources. The<br />
donors lend in units of "squares", a square is worth $50, this ensures that everyone in the community can take<br />
part in micro finance. CSC does not charge a commission on funds raised by the campaigns, instead it charges<br />
borrowers a sum of $250 at the time of launching a campaign. There is also a $50 charge per month for<br />
borrowers until a loan is fully repaid.<br />
$17k Fledge<br />
Term Loans -<br />
P2P Marketplace<br />
Solvesting [Madrid, 2014]: Solvesting is an online lending platform that facilitates P2P lending for SMB loans. It<br />
allows investors to start investing in loans from a minimum amount of $25.<br />
$10k<br />
113<br />
Alternative Lending Report, December 2015
Business Loans (20/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
CrowdCitizen [Los Angeles, 2015]: CrowdCitizen helps public works projects get funding more quickly from<br />
municipal bonds. They also help businesses crowdsource small and large loans. It is a do-it-yourself platform that<br />
allows borrowers to kickstart their project by quickly creating an investment page, and provides all the tools<br />
necessary to negotiate payback terms, take a payment, and pay back over time, with interest. It also provides an<br />
option to accept donations from crowd.<br />
Term Loans -<br />
P2P Marketplace<br />
CoFunder [Belfast, 2013]: CoFunder is a P2P lending platfomr for business that matches funders, who can lend<br />
from as little as £100.00 into any individual company, with quality companies. Companies can raise from £5,000<br />
to £100,000 from the crowdfunding backers, so long as they have the required credit score (provided by our<br />
credit reference partner) and supply a director’s guarantee.<br />
Term Loans -<br />
P2P Marketplace<br />
Money&Co. [London, 2013]: Money&Co is a P2P lending platform that connects investors looking for a<br />
better rate of interest on their cash, with businesses seeking finance. It offers loans of up to £3,000,000<br />
Term Loans -<br />
P2P Marketplace<br />
Sancus Limited [Jersey City, 2013]: Sancus Limited is a Peer-to-Peer (P2P) secured lender with significant<br />
permanent capital. They concentrate on traditional P2P transactions and focus on working with entrepreneurs<br />
and businesses. Their minimum loan participation is £250,000. In all of their loans, they lend alongside or in front<br />
of Co-Lenders, providing assurance of their credit process.<br />
Term Loans -<br />
P2P Marketplace<br />
AlbertaCrowdLenders [Alberta, 2015]: Albetacrowdlenders is a lending marketplace from ATB Financials.<br />
Small businesses can apply for a loan. The same is evaluated by the lenders on the platform. If lenders commit<br />
to funding half of the loan, ATB completes the funding with the remaining half.<br />
114<br />
Alternative Lending Report, December 2015
Business Loans (21/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
finmar [Hamburg, 2013]: Finmar is an online P2P lending platform for SME loans. Finmar arranges loans of<br />
2,500 to 25,000 Euros for terms of 6 to 60 months for business owners. Interest rates will range from 6 to 11<br />
percent – Finmar set the rate depending on the Schufa credit grade of the business owner. The platform charge<br />
borrowers a 5.95% origination fee for the loan. Lenders can invest anything from 250 Euros upwards and are not<br />
charged any fees. Only residents of Germany can borrow or lend via the platform.<br />
Term Loans -<br />
P2P Marketplace<br />
Flex Funding [Copenhagen, 2013]: Flex Funding is an online marketplace for business loans. Lenders can be<br />
private savers, companies, pension funds, foundations etc. Loans are provided from 200,000 kr for upto 10 years.<br />
Term Loans -<br />
P2P Marketplace<br />
BorsadelCredito [Milano, 2013]: BorsadelCredito is a P2P lending platform that connects investors and Italian<br />
companies. Investors can choose where they want to invest.<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
ConnectingDot [Kolkata, 2014]: ConnectingDot is a crowdfunding and peer to peer based online marketplace<br />
for business loans. It aims to provide an auction based technology solution using the existing credit market by<br />
linking lenders looking for higher returns directly with MSME borrowers, thereby providing a alternate to banks. It<br />
claims to be incubated at IIM Calcutta Innovation Park.<br />
VLend [Bangalore, 2015]: VLend is an online marketplace that connects borrowers and investors. It claims that<br />
for each loan request, they list only those applications on theplatform that meet the credit criteria. They remove<br />
any personal identifiable information to protect the privacy of borrowers and claims to provide investors an<br />
exposure to different individual loans to diversify their investment. It claims to offer loans ranging from INR<br />
1,00,000 to INR 30,00,000 with flexible loan terms starting from 6 months to 60 months.<br />
115<br />
Alternative Lending Report, December 2015
Business Loans (22/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Ovamba, Inc. [Johannesburg, 2013]: The Ovamba platform uses a social or “peer-to-peer” lending model that<br />
allows retail and institutional lenders to lend and borrow from each other with complete transparency. The<br />
Ovamba platform provides liquidity and risk management for regulated local financial firms.<br />
Term Loans -<br />
P2P Marketplace<br />
Funding Straits [Singapore, 2014]: Based in Singapore, Funding Straits is a P2P lending space for SMEs. It<br />
checks the creditworthiness of the SMEs and gets them short term loans from willing investors. As of October<br />
2015, the site is in beta version.<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Beehive [Dubai, 2013]: Beehive is UAE based online marketplace for peer to peer lending. Beehive directly<br />
connects creditworthy SME’s looking for investment with smart investors looking for better returns on their<br />
money.<br />
Unilend [Paris, 2013]: Unilend is a P2P lending platform for financing SMEs in France and Continental Europe.<br />
The minimum amount that the investor can lend per company is 20 euros. The maximum that the businesses can<br />
borrow is 500,000 euros.<br />
Funding Empire [Caerphilly, 2012]: Funding Empire is a peer to peer lending platform that connects<br />
businesses seeking loans with individuals who want to lend their money. It makes loans available to start-up’s<br />
and businesses trading less than 2 years as well as those trading for more than 2 years. People can lend from<br />
£20 upwards on the platform. Businesses can borrow any amount between £5,000 and £100,000, for a period of<br />
anywhere between 6 and 60 months. Once a business loan request is fulfilled and the borrower accepts the loan,<br />
the platform manages all the paperwork, transfer of funds, monthly repayments and the assignment of relevant<br />
funds back to the lenders. In Feb 2015 it launched a new product which offers secured asset backed lending<br />
opportunities to lenders under a collaboration with Business Lending Exchange Ltd’ (BLX).This product offers<br />
lenders a 10% p.a. gross yield and provides monthly interest and capital repayments.<br />
116<br />
Alternative Lending Report, December 2015
Business Loans (23/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Cumplo [Santiago, 2012]: Cumplo is a Chile-based P2P lending marketplace for SMEs. It offers terms loans<br />
Term Loans - and invoice financing to SMEs. The minimum investment allowed on the platform is $ 100,000 pesos per loan.<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Babyloan [Malakoff, 2008]: Babyloan is a microlending platform where people lend to microentrepreneurs of<br />
their choice in 15 countries. The platform allows the lender to lend a minimum of €10. The loans are repaid<br />
through monthly repayments. Upon receiving the repayment, lender can either lend the amount again or withdraw<br />
it.<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Biva Serviços Financeiros [Sao Paulo, 2014]: Biva Serviços Financeiros is Brazil-based P2P lending platform.<br />
It enables small and medium businesses capture online loans directly from people.<br />
Microbnk [Manila, 2014]: Microbnk is a platform that connects micro entrepreneurs in emerging markets with<br />
lenders and organizations on a global basis and provides them with a complete system to disburse, receive and<br />
manage business micro loans. Potential borrowers access a mobile-only platform where they can provide a<br />
critical mass of data on themselves and their businesses and list micro-loan requests. Lenders can browse loans<br />
to select lending opportunities suitable for their needs. Lenders are provided with a complete suite of tools to<br />
assess and manage the credit risk, contractualize the loan and monitor its performance. It is currently in Beta<br />
stage and expected to launch in Q2 2016.<br />
Tailwind Crowd [Utrecht, 2014]: Tailwind Crowd is a reward-based crowdfunding and crowdlending platform.<br />
With a reward project the project owner presents a good or original idea on the site. Usually a small product.<br />
Supporters can fund this idea. As a reward, the supporters then would get this product as soon as it is fabricated.<br />
With a lending project the project owner presents his company on the site. The project owner wants to borrow<br />
money, usually to realize a specific project or expansion. Investors can fund portions of this loan. The money is<br />
then used to realize the project and the project owner repays the loan over time with interest. Tailwind applies an<br />
“all or nothing” model.<br />
117<br />
Alternative Lending Report, December 2015
Business Loans (24/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
YouCan2 [Sindelfingen, 2014]: YouCan2 is a Crowdfunding and eCommerce service based in Europe. It allows<br />
all types of crowdfunding i.e. donations, rewards, equity and loans.<br />
Term Loans -<br />
P2P Marketplace<br />
Creation Leaders [London, 2014]: Creating Leaders is a crowdfunding platform dedicated to finance projects<br />
via collections of grants or loans, in a social and collaborative structure. It indeed offers entrepreneurs , project<br />
developers and contributors a social network to enable them to communicate better with each other and interact<br />
on projects they support.<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Inidev [Voisins-le-Bretonneux, 2014]: Inidev is a crowdfunding platform that helps to finance projects through<br />
equity, the gift or loan crowdfunding. It helps to finance 3 sectors; real estate, renewable energy and innovative<br />
projects. All the projects are pre-screened before they appear on the platform.<br />
Grapster Region [Paris, 2015]: Grapster Region is a local participatory investment site that allows people to<br />
invest in quasi-equity in one or more start-ups in their local areas. Invest in a Grapster Region project is directly<br />
involved in financing a business, in local area. Investors allow a businessman to settle by paying the necessary<br />
funds in exchange for interest. This gives investor the satisfaction of contributing directly and concretely to the<br />
revitalization of the local fabric.<br />
Term Loans -<br />
P2P Marketplace<br />
GeldDoel [Nijmegen, 2014]: GeldDoel is a crowdfunding platform that aims to help start-ups and fun initiatives<br />
raise funds. All the projects are pre-screened before thy appear on the platform. It follows fixed fundraising model<br />
and the target that is to be achieved is 90% of the amount to be raised . The minimum investment allowed is €<br />
5000 per project.<br />
118<br />
Alternative Lending Report, December 2015
Business Loans (25/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Crowdfundbank [Paris, 2014]: Crowdfundbank is a crowdfunding platform by connecting French SMEs seeking<br />
a loan or equity with investors who want to invest their savings in companies or alternative assets.<br />
Crowdfundbank relies on the opinion of experts Nfinance Securities (www.nfinance.fr) to ensure the best<br />
investments of the participatory web.<br />
Term Loans -<br />
P2P Marketplace<br />
RealFunding [Barcelona, 2014]: RealFunding helps organizations of social or environmental impact to have<br />
better access to credit by offering a platform, for collective funding of interest-free loans, where organizations<br />
seeking campaign finance and social investors consult.<br />
Term Loans -<br />
P2P Marketplace<br />
ClubFunding [Paris, 2014]: ClubFunding is a crowdfunding platform that provides investors, retail and<br />
institutional, bonds issued by French SMEs. The minimum investment on the platform is 500 euros. ClubFunding<br />
helps businesses and investors in all phases of project financing by bonds: credit analysis, installation of the<br />
program, collecting subscriptions, manage payments and refunds, followed by the issuer-investor relationship.<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Raizers [Paris, 2014]: Raizers is a crowdfunding platfrom that connects individuals and growing companies to<br />
raise finance. It is open for comopanies planning to raise 50,000 € to 1,000,000 €. Each company is screened<br />
before it appears on the platform.<br />
ECrowd Invest [Barcelona, 2013]: Ecrowd Invest is a P2B Crowdlending platform that allows investors to earn<br />
passive income by investing in loans to projects with positive social impact.It connects owners of energy and<br />
telecom projects with investors the looking for smarter alternatives to invest. By investing in these projects, they<br />
contribute towards better energy models and improved telecom infrastructures while creating wealth and welfare<br />
in their communities. It allows a minimum investment of 50 €.<br />
119<br />
Alternative Lending Report, December 2015
Business Loans (26/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Arbol Finance [Barcelona, 2011]: Arboribus is a crowdlending platform connecting individuals investors and<br />
small businesses. It allows an investor to invest 20 to 2,000 euros per company. Arboribus handles the<br />
preliminary analysis of companies seeking funding, formalize the agreements and keep track of payments,<br />
keeping the investor informed at all times.<br />
Term Loans -<br />
P2P Marketplace<br />
Aescuvest [Frankfurt am Main, ]: Aescuvest crowdfunding (debt) platform with a focus on medical and<br />
healthcare startups in Germany. The minimum investment is 250 euros, the term extends over 3-7 years<br />
depending on the project. It follows all or nothing fundraising model.<br />
Term Loans -<br />
P2P Marketplace<br />
Credit.fr [Paris, 2014]: Credit.fr is an online platform that allows businesses to borrow from €20,000 to €200,000<br />
for a time perdio of 3, 4 or 5 years. The interest rates vary from 3.4% to 8.7% depending on the loan tenure.<br />
Investors can invest a minimum amount of €100 in a project with the maximum amount being €1,000 and<br />
diversify their portfolio across loans of various risk classes.<br />
Term Loans -<br />
P2P Marketplace<br />
Pretgo [Paris, 2014]: Prêtgo is a web platform for crowdfunding that allows individuals to invest in business<br />
projects. As for companies, they benefit from a quick loan without warranty or guarantee or minimum intake. The<br />
Lenders invest money in the project of their choice and will receive monthly repayments plus interest.<br />
Term Loans -<br />
P2P Marketplace<br />
The Dutch Deal [Eindhoven, 2014]: The Dutch Deal is a peer-to-peer crowdfunding organization, controlled<br />
from Strijp-S, the entrepreneurial heart of Eindhoven.On this online platform entrepreneurs can present their<br />
projects. All the projects are screened before they appear on the platform. Investors choose the project to invest<br />
it. It allows a minimum investment of € 25.<br />
120<br />
Alternative Lending Report, December 2015
Business Loans (27/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Prexem [Paris, 2014]: Prexem is an online lending platform where business owners apply for financing from<br />
investors. Companies can borrow unsecured loans between € 10,000 and € 500,000 for a loan tenure of 1-5<br />
years. Investors can invest between € 20 and € 1,000 in a loan and diversify their portfolio across various risk<br />
classes.<br />
FunderNation [Berlin, 2014]: FunderNation is a Germany based crowdinvesting platform. The portal focuses on<br />
investments in digital media, sustainability, female leadership, space technologies and innovative German SMEs.<br />
FunderNation is more than a crowdinvesting platform. Before a company starts its fundraising they give them<br />
access to our crowdintelligence service FunderWorld. There the companies and the investors can exchange<br />
feedback, discuss selected challenges and ask potential customers for their opinions.<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Capital Circle [Rotterdam, 2014]: Capital Cirlce is a crowdfunding platform that mediates between investors<br />
and entrepreneurs in Dutch SMEs. Each project is screened before it appears on the platform.<br />
Finsquare [Paris, 2014]: Finsquare is the first Peer-to-Business short term loans platform in France. Lenders<br />
can make loan offers from 10 to 1000 euros per project over a period of 3-24 months. A particular loan offer is<br />
accepted, if it presents a competitive rate of interest compared to other lenders. Finsquare collaborates with<br />
companies, namely BNP Paribas for the accommodation of funds collected, LemonWay for managing financial<br />
transactions and Ellisphère for analyzing financial data of companies.<br />
Term Loans -<br />
P2P Marketplace<br />
Pretup [Nancy, 2014]: Pretup is a crowdlending platform that connects companies looking for funding and<br />
individuals wishing to invest in business projects. PretUp is a 100% subsidiary of Partners Finance. On the<br />
platform, the projects are published for 30 days, companies borrow at rates between 6 and 11% for periods of<br />
between 12 and 60 months.<br />
121<br />
Alternative Lending Report, December 2015
Business Loans (28/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
BOLDEN [Paris, 2014]: Bolden is an online money-lending platform that allows people to directly lend to small<br />
businesses. It allows a minimum investment of € 20 and helps to diversify by lending to several SMEs. The loans<br />
have a term of 1 to 5 years and are remunerated at a fixed rate of 4% to 12% before fees Bolden and taxes.<br />
SMEs can borrow within the range of € 5,000 to € 400,000.<br />
Finicrowd [Kortrijk, 2014]: FiniCrowd is a crowdfunding platform for entrepreneurs in Belgium. It is a link<br />
between investors and entrepreneurs seeking funding. Investors invest directly in the companies they select via<br />
Finicrowd. Finicrowd provides a detailed screening and analysis of the companies and the communication<br />
between the different parties. Crowdfunding on FinCrowd can be done for Crowd lending (loans), rewards based<br />
crowdfunding and donation based crowdfunding. So non-profits organisations can raise funds through donations.<br />
Term Loans -<br />
P2P Marketplace<br />
iBondis [London, 2014]: iBondis is an online financing platform that extends financing to businesses from retail<br />
and institutional investors. It allows and incentivises investors to diversify their portfolio by investing in different<br />
well established and successful enterprises, in order to maximize risk adjusted returns.<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
MicroWorld [Paris, 2010]: MicroWorld is a peer to peer microfinance lending platform. Part of the PlaNet<br />
Finance Group, MicroWorld allows individuals and companies to fund micro entrepreneurs projects in developing<br />
countries. MicroWorld supports projects in Peru, Senegal, Madagascar, Lebanon, Tajikistan and Cambodia.<br />
liwwa [Amman, 2013]: liwwa connects small businesses in need of capital with people who want to invest.. It<br />
connects small and medium businesses who need capital with fixed-income investors. Investors earn 10-15%<br />
return while small businesses get access to much needed financing. It addresses the funding gap for SMEs in the<br />
Middle East through a Sharia-compliant peer-funded, lease-to-own transaction structure that is implemented<br />
through the use of in-house proprietary technology<br />
Fares Ghandour<br />
122<br />
Alternative Lending Report, December 2015
Business Loans (29/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
LendSquare [Chicago, 2011]: LendSquare is a platform that allows small businesses to finance growth by<br />
borrowing money from their customers and local communities. Past projects have included opening new<br />
locations, buying equipment, or repaying expensive business credit cards.<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Funding Community [Brooklyn, 2012]: Funding Community lets any individual lend to any small business.<br />
Small businesses apply for loans on the Funding Community platform, which are then funded by individual<br />
“supporters”. The portal operates on a campaign based model and offer "all-or-nothing" funding principal. Once a<br />
campaign is successfully funded, the portal charges an origination fee of 2.5% of the amount raised. All<br />
borrowers must list rewards on their campaign page, the rewards provide incentive to lenders.<br />
Lendwithcare [London, 2010]: lendwithcare.org is an initiative of CARE International UK which connects people<br />
around the world who want to make a difference by facilitating small loans to entrepreneurs in developing<br />
countries so that they can work their own way out of poverty with a small loan. It allows people to lend as little as<br />
£15 to fund a small business and once the money is repaid one can choose to recycle his loan to support another<br />
poor entrepreneur, or withdraw the money. Through lendwithcare, CARE also partners with local microfinance<br />
institutions to provide loans to entrepreneurs<br />
Term Loans -<br />
P2P Marketplace<br />
Farm Capital Africa [Nairobi, 2014]: Farm Capital Africa is a crowdfunding platform that enables investors to<br />
put money in sustainable agribusinesses across Africa and reap profits in return. it manages how these funds are<br />
spent on the farm and pays investors back their capital plus interest It is helping in making a difference in Africa<br />
by investing in young agripreneurs.<br />
Term Loans -<br />
P2P Marketplace<br />
bankless24 [Weiterstadt, 2012]: bankless24 is a crowdinvesting platform focussing exclusively German<br />
Mittelstand. Through the platform investors can invest in participation rights(subordinated debt) in SMEs.<br />
Investors can start investing with as little as 100 Euro.The investment in participation rights of SMEs allows share<br />
in the profits of these companies.<br />
123<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (30/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
rebuildingsociety.com [Leeds, 2011]: Rebuildingsociety.com website operates as a lending platform by<br />
allowing approved businesses to publish a loan application. Investors can subscribe to parts of the loan after<br />
assessing the business's information, committing an amount of their choice, with an interest rate of their choice.<br />
Investments pledged are compiled to offer the borrower a lending rate. The platform also operates a secondary<br />
loan market. Rebuildingsociety.com has launched three crowdfunding sites powered by its technology; Be The<br />
Lender, eMoneyUnion and Acorn Commercial Finance.<br />
Clasp Investments Limited [London, 2014]: InvestDen is an investment crowdfunding platform offering both<br />
equity and debt in issuing firms. It is owned by Clasp Investments Limited. InvestDen has also incorporated a<br />
secondary market, according to site. It allows securities not only purchased via its platform to be traded but will<br />
also accept securities issued from other crowdfunding platforms. It has recently partnered with NYC based<br />
Crowdnetic to make the sector morally accountable for the deals it offers to investors. It charges a fee of 4.88%<br />
on projects that reach their target.<br />
TrustLeaf [Sunnyvale, 2013]: TrustLeaf is platform that facilitates loan transactions between small business<br />
owners and their family and friends, the campaigns on the site are not open to general public. The portal helps in<br />
creating terms for the loan and provides other services such as legal documentation, repayment tracking, and<br />
establishing various financing options. Trustleaf charges users a monthly fee for access to its tools and services.<br />
Also charges a transaction fee if the users choose to channel repayments through the portal.<br />
Zencap Deutschland GmbH [Berlin, 2014]: ZenCap is an online lending platform for unsecured business loans<br />
which provides funding of up to € 250,000 for loan tenure of 6 months - 5 years at interest rates starting from<br />
3.99%. The loans are assigned interest rate classes, based on their risk analysis, such as A+, A, B, C, C-.<br />
Investors can start investing from € 100 and diversify their portfolio across a range of loans based on their risk<br />
preferences. Zencao doesn't require any collateral for the loan, however it does require a personal guarantee<br />
from the directors of the business. In September 2015, Victory Park Capital committed € 230M to loans originated<br />
on Zencap's platform.<br />
Term Loans -<br />
P2P Marketplace<br />
Fund364, Inc. [Burlingame, 2014]: Fund364.com is a P2B crowdlending platform that allows investors to lend to<br />
small businesses. Borrowers can borrow up to up to $100,000 per loan request. Investors can start investing with<br />
a minimum amount of up to $500 and would receive principal and interest entirely at the end of loan period if the<br />
loan is less than 3 months in term, otherwise on a monthly basis.<br />
124<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (31/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Crowdstacker [London, 2014]: Crowdsacker is an online P2P lending platform for business loans between £1M<br />
- £50M. On the platform investors can commit to the loan requirements of a businesses selected and screened by<br />
Crowdstacker. Once the bidding is complete the loan amount is transferred to the borrower, else the amount is<br />
returned to the lenders. The loans are either unsecured or secured with a lien on assets and/or a personal<br />
guarantee from the directors of the company, depending on the terms of the loans and details of the business.<br />
The loan is divided in multiple tranches for part disbursal of funds to the borrowers. It also has a secondary<br />
marketplace where lenders can trade loan notes for a fee to the platform.<br />
My Angel Loan Ltd. [ , 2014]: My Angel Loan is an online platform that facilitates P2P lending for business<br />
loans. It has applied to the capital markets and financial services regulator, the Financial Markets Authority, to<br />
become licensed to operate a peer-to-peer business lending platform in New Zealand and expects to be<br />
operational in 2015. It is also preparing to launch in Australia. The founders also operate an equity crowdfunding<br />
website called My Angel Investing.<br />
Crowdo [Singapore, 2012]: Crowdo is an online platform offering a full portfolio of crowdfunding solutions<br />
including equity crowdfunding, P2P lending, white label solution for crowdfunding and reward-based<br />
crowdfunding. On its equity crowdfunding platform it allows investment up to RM50,000 in a 12-month period for<br />
retail investors and up to RM500,000 for angel investors in a 12-month period. It also helps businesses in<br />
building and managing a fully branded crowdsourcing platform. As of July 2015, its P2P lending platform is<br />
currently operating in an invite-only mode. Started in Singapore, the Company is now expanding to Indonesia<br />
and Malaysia. Crowdo is one of only 6 platforms receiving official approval to operate in Malaysia.<br />
Term Loans -<br />
P2P Marketplace<br />
MoolahSense [Singapore, 2013]: MoolahSense is an online P2P lending platform for business loans. It offers<br />
unsecured loans between S$100,000 and S$1M, for a tenure of 1 year, to small businesses for various purposes<br />
including capital expansion and equipment financing. It allows the loan issuer to withdraw funds as soon as at<br />
least 70% of the loan amount is committed. It requires the business to be in trading for at least 2 years, have a<br />
minimum annual turnover of S$100,000 and requires a personal guarantee from the directors or the owners of<br />
the business. Investors can start investing on the platform with a minimum of S$1,000 and can also diversify their<br />
portfolio across different loans to mitigate their risk exposure. In June 2015, the company achieved cumulative<br />
S$1M mark in fund raising since inception. MoolahSense raised an undisclosed seed fund in Mar '15 for<br />
expansion of business.<br />
East Ventures, Pix Vine Capital<br />
125<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (32/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
Folk2Folk [Launceston, 2013]: Folk2Folk is an online P2P arranger for secured business loans. It allows<br />
people to borrow more than £25,000 with a first lien on the property and an LTV of less than 60% of the<br />
underlying asset. Once the loan application is verified, it is uploaded on the platform for funding commitment by<br />
investors. The lenders can invest in various loans through the dashboard with a minimum investment amount of<br />
£25,000. Each loans can be funded by one to eight lenders and lenders can therefore fund a loan partly or in full.<br />
Currently the company only focusses on the businesses in South-West UK. It has raised over £30 million woth of<br />
loans between February 2013 and September 2014 for businesses in various industries including renewable<br />
energy, house building, leisure facilities and land and property acquisition<br />
Marketlend [Sydney, 2014]: Marketlend is an online P2P lending marketplace for business loans in the range of<br />
A$2,000 and A$1M for a loan tenure of 3-5 years. It provides small business loans, short term and bridging loans,<br />
auto and vehicle loans, equipment loans and personal loans. Once the loan application is uploaded by the<br />
borrower on the platform, a credit check is performed and a risk bank is allotted to the loan. The loan is then<br />
listed on the platform for investors to commit the amount to. Invoices are verified once the funding is complete<br />
and money is transferred to the seller of invoices. The investors can invest in full set of loans, single loan, part of<br />
loan according to the risk appetite and criteria. Its Bid Pay service automatically matches the optimum investment<br />
loan mix to investor's preferred investment criteria and automatically bids on the investments. The minimum and<br />
maximum bid amounts are $100 and $10,000 respectively.<br />
LendingCrowd [Edinburgh, 2014]: LendingCrowd is an online lending platform for business loans in the range<br />
of GBP 5,000 to GBP 250,000 for a tenure of up to 5 years. Once a user uploads the loan application a credit<br />
check is performed on the user and, if approved, the loan is listed on the marketplace where investors bid on the<br />
loan. Investors have an options of bidding on a loan or invest in loan parts that are available to buy immediately<br />
in the loan exchange, secondary marketplace where LendingCrowd Investors can buy and sell their loan<br />
parts.Once a loan reaches its target, the most competitive bids are accepted or if an investor bought a loan part<br />
then the investment is instantly processed. The investor has an option of diversifying the portfolio by investing<br />
across loans in different risk bands which range from A+ to C-. It charges an origination fee from the borrowers<br />
and a 1% annual fee from the investors.<br />
Funding Societies [Singapore, 2015]: Funding Societies offers a P2P lending system that enables SMEs to<br />
borrow loans from retail or institutional investors. It offers simple interest term loans, working capital loans and<br />
project loans between S$10,000 and S$200,000, for a tenure of 3-24 months with interest rates between 6-14%.<br />
It requires a minimum investment of S$1,000 from the investors.<br />
126<br />
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Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
LendEx [Coorparoo, 2013]: Lending Exchange (LendEx) is an online marketplace for P2P lending. It allows<br />
individuals and small businesses to borrow between $10,000 and $500,000 for 1 to 5 years and fixed interest<br />
rates starting from 8.75%. Individuals applying for loan should have an annual income of at least A$50,000.<br />
Investors can choose to invest directly into a single loan from as little as $100 per loan (Note) or diversify their<br />
loan portfolio by investing in multiple loans. Investors can achieve returns between 7% and 15% depending on<br />
credit profile of the borrower, security offered and term of the loan. The company is scheduled to go live in<br />
September 2015.<br />
Term Loans -<br />
P2P Marketplace<br />
Lending Loop [Toronto, 2014]: Lending Loop is an online lending marketplace for SMBs in Canada. It allows<br />
borrowers to borrow loans in amount between $5,000 and $500,000 for a tenure of 6 months to 5 years for<br />
purpose such as equipment purchase, renovation, expansion, working capital and inventory purchase. It charges<br />
a one time loan origination fee from the borrowers which ranges between 3.5% and 5.5%. Once a loan request is<br />
put up on the platform, lenders will commit a certain amount to the loan and the request is open for 30 days or till<br />
complete amount is committed, whichever is earlier. Lending Loop acts as a platform for people to form a<br />
partnership and lend to the business.<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
ArchOver [London, 2013]: ArchOver is a Crowdfunding platform offering secured lending products. It provides<br />
four types of loans to businesses: 1. Trade loan which are secured and insured against accounts receivables; 2.<br />
Asset loans which are secured against existing assets of the borrower; 3. Purchase loans which are secured for<br />
up to 80% of the value of the asset to be purchased; 4. Bespoke loan which are customizable loans and do not fit<br />
the scope of any of the other loans available. The borrowers are required to maintain the asset of value of at least<br />
125% of the loan value. It allows individual, institutional and organizational investors to invest on its platform and<br />
require the minimum investment amount of GBP 1,000.<br />
FundingKnight [Portsmouth, 2011]: FundingKnight is a UK peer-to-peer (P2P) money lending service that<br />
allows borrowers and lenders to deal directly with one another. FundingKnight offers businesses to borrow up to<br />
£100,000 for expansion, while lenders can open an account with just £500. FundingKnight assign a quality rating<br />
to each of the presenting loans. When the borrower pays a higher rate, the lender will receive that higher rate.<br />
FundingKnight was founded in 2011 and is available to customers throughout the United Kingdom.<br />
127<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (34/55)<br />
Company Details Funding Investors<br />
Term Loans -<br />
P2P Marketplace<br />
Term Loans -<br />
P2P Marketplace<br />
- Bitcoin<br />
AQUSH [Tokyo, 2009]: AQUSH is a peer-to-peer lending platform in Japan, that connects people with extra<br />
money with people who want to borrow money. Lenders set their desired investment amount and interest rates<br />
from 4% to 15% for 5 classes of borrower credit risk, as denoted by an AQUSH Credit Grade: AA, A, B, C &<br />
D. Applicants are screened based on their credit histories, financial situation and FICO scores and qualified<br />
applicants are assigned an AQUSH Credit Grade. Each qualified applicant is offered a loan at the best possible<br />
interest rate based on a blend of the available lender funds at the time the offer is made. AQUSH handles all<br />
legal documents, funds, credit and identity checks. Lenders are charged a fee of 0.125% of principle for each<br />
monthly repayment processed. Borrowers pay an upfront origination fee of 3% of the loan amount.<br />
StemFund [London, 2013]: Stemfund is a peer-to-business lending company which uses Bitcoins as a way of<br />
transaction. It allows investors to invest a maximum amount of £2,000 in respect of a proposed borrower's<br />
funding request. The borrower creates a loan request and publishes it on the Loan Requests page where<br />
investors choose the amount and rate at which they want to lend in the loan auction. When the loan is fully<br />
funded, the loan auction lasts for 1 more day during which an auction occurs between investors and only the<br />
lowest rates will be kept in the loan auction. At the end of this last day, the borrower decides on the allotted<br />
amount and rate and get the money transferred to their account.<br />
Working Capital<br />
Working Capital<br />
Moula Money [Melbourne, 2013]: Moula is an Australia-based online lending platform for working capital loans<br />
of up to $100,000 to SMBs. The usual tenor for loans is 6 months, however it can be further extended on a caseto-case<br />
basis.<br />
Capital Float [Bangalore, 2013]: Capital Float is a digital finance company providing working capital loans for<br />
small businesses and start-ups in India. The company has created a proprietary technology platform to evaluate<br />
the financial health of SMEs. Provides loans ranging from Rs. 3-30 lac at interest rates starting from 16%.<br />
Borrowers need not pledge property but loans are offered on the basis of cash flows, customer relationships and<br />
expected receivables. Borrowers can apply online and the sanctioned funds are received within 7 days. Stanford<br />
University founding team.<br />
$31M LibertyFinancial<br />
$16M<br />
Aspada Investments, SAIF<br />
Partners, Sequoia Capital<br />
Working Capital<br />
Mass Funding [New York City, 2015]: Mass Funding specializes in working capital cash advances based on<br />
businesses month to month performance, typically over 6-14 month terms. The business that qualify for financing<br />
must be operational for atleast 5 years, have average monthly revenue of atleast $30000 and a credit score of<br />
500 or above.<br />
128<br />
Alternative Lending Report, December 2015
Business Loans (35/55)<br />
Company Details Funding Investors<br />
Working Capital<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Credit Cash Capital [New Jersey, 2015]: Credit Cash Capital provides business loans, credit lines and cash<br />
advances to small and mid-size businesses, providing capital to healthy but under-served businesses without the<br />
time, documentation and availability issues associated with an SBA or conventional bank loan. The company has<br />
reviewed the available options in the marketplace and created the Business Credit Building/Financing Loan<br />
Programs available by offering the simple application process, broad range of merchant acceptability and the<br />
high advance and loan & credit volumes available.<br />
Working Capital<br />
BasketCap [Singapore, 2015]: Basketcap is an online loan provider for merchants of e-commerce websites<br />
based on their e-commerce metrics. Targeted at the e commerce sellers it claims to provide swift loans(within 7<br />
days) to the merchants without any collateral. The loan money is directly credited into the merchant's account.<br />
Working Capital<br />
Thrive Group, Inc [New York City, 2014]: Thrive offers revolving line of credit to small and medium sized<br />
businesses within a range of $5,000 - $25,000. In order ti qualify the business must be operative for 2+ years, a<br />
minimum FICO score of 650 and a minimum of $250,000 in annual revenue.<br />
Working Capital<br />
Aspiria [Guadalajara, 2013]: Aspiria provides loans to underbanked SMEs and the self employeed in<br />
developing economies. It offers credit lines up to $ 150,000 at 0.8% weekly. It takes weekly repayments. The<br />
industries they cater to include online businesses, restaurants, car workshops, clinics, insurance.<br />
Crown Point Funding [La Jolla, 2012]: Crown Point Funding offers working capital loans to small and medium<br />
sized businesses. It offers business line of credit up to $100,000. They currently work with the areas of business<br />
including: hotels, motels, restaurants, franchises, auto body shops, jewelry stores.<br />
Working Capital<br />
129<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (36/55)<br />
Company Details Funding Investors<br />
Working Capital<br />
Working Capital<br />
Working Capital<br />
Working Capital<br />
Working Capital<br />
- Direct Lender<br />
Lendified [Canada, 2015]: Lendified is a Canada based platform providing fixed rate working capital loans to<br />
small businesses. It offers business loans within a range of $5,000 to $35,000 for 3 to 12 months. It charges<br />
origination fee of 2.0% of the loan.<br />
Fora Financial [New York City, 2008]: Fora Financial provides working capital solutions to small businesses in<br />
need of financing to sustain or grow their enterprise. The company claims to operate through a consultative<br />
approach, listening to customers’ needs and providing a customized solution to best meet small business<br />
financing. They offer merchant cash advance and small business loans. It approves loans up to $250,000, in as<br />
little as 72 hours.<br />
Verus360 [London, 2014]: Verus360 launched in 2014, backed by the Bibby Line Group to provide UK SMEs<br />
with business finance products. Their business finance works like a secured overdraft, but is delivered online,<br />
they provide a flexible loan facility up to £250k with one simple rate, for the money used and for the time used.<br />
Verus360 would then open a bank account for the business in NatWest bank and would ask the business to<br />
direct its customer invoice payments to that bank account.<br />
FundX [Sydney, 2015]: FundX is an invoice discounting platform providing working capital solutions to small to<br />
medium Australian businesses. FundX is integrated directly into the borrower's accounting software, allowing<br />
FundX to clear the chosen invoices immediately, funding the borrower while he waits for payment from clients.<br />
FundX uses big data, machine learning and predictive algorithms to analyse risk and authorize invoice funding.<br />
Approved customers can choose to clear any or all of their pending invoices and have funds transferred directly<br />
and securely to their nominated bank account within 24 hours. Their advance rates start at 2% per month<br />
depending on the risk level of the company and the rates get lower the more they use FundX.<br />
Behalf [New York City, 2011]: Behalf is an alternate lending platform that offers a line of credit for purchases to<br />
businesses. The platform does not disburse any credit to the borrower, it instead handles the purchase<br />
requirements of the borrowers by dealing with their vendors directly. This principal of operations mitigates any<br />
mismanagement of funds by the borrower. Once the purchase has been made by the portal, the goods are<br />
received directly by the borrower. The borrower then begins repayments on the amount of credit used. The portal<br />
charges interest rates of 1-3% and offers a maximum credit line of $50,000. Behalf is also beneficial to the<br />
vendors as they no longer have to negotiate terms with their many customers.<br />
$129M<br />
Palladium Equity Partners<br />
Sequoia Capital, Spark Capital,<br />
MissionOG, Victory Park Capital,<br />
Maverick Ventures Israel<br />
Working Capital<br />
- Direct Lender<br />
National Funding [San Diego, 1999]: Small business loans from National Funding. Equipment leasing, working<br />
capital loans, cash advances, and merchant account services for small businesses.<br />
$75M Wells Fargo Bank<br />
130<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (37/55)<br />
Company Details Funding Investors<br />
Working Capital<br />
- Direct Lender<br />
Working Capital<br />
- Direct Lender<br />
SpotCap [Berlin, 2013]: SpotCap is an alternate lending platform that offers credit line to businesses with a<br />
flexible repayment option. The credit line is open and used at the discretion of the approved businesses,<br />
businesses can withdraw as often as once a day. The repayment alternatives include a six month period over<br />
which the draw down is amortized. Repayments lead to a replenishment of the credit line. SpotCap is backed by<br />
Rocket Internet and received debt financing worth $5 million USD in March, 2015.<br />
Expansion Capital Group [Sioux Falls, 2013]: Expansion Capital Group provides business owners working<br />
capital financing using a 3–12 month term finance product. The Company has developed a technology platform<br />
using predictive modeling, data aggregation and electronic payment technology which enable it to service this<br />
target market. The Company has developed a proprietary end-to-end lending platform which includes an online<br />
based origination platform, a proprietary credit scoring model, and an automated collection platform that collects<br />
ACH payments from merchants.<br />
$16.5M<br />
$2.1M<br />
Access Industries, HV Holtzbrinck<br />
Ventures, Rocket Venture Fund<br />
Working Capital<br />
- Direct Lender<br />
Kikka Capital [Perth, 2014]: Kikka provides Australian small businesses working capital loans of up to<br />
A$100,000. It utilizes alternative data sources to assess finance applications in real time to provide quick loan<br />
decisions.<br />
Working Capital<br />
- Direct Lender<br />
Drip Capital [Sunnyvale, 2014]: Drip Capital provides credit lines to SMBs of up to $200,000 at an interest rates<br />
starting at 1.25%. It charges the merchants only for the amount that they withdraw rather than for the credit line<br />
that they were approved for. Repayment can be made either as monthly installments or as when the customer<br />
makes payment.<br />
Working Capital<br />
- Direct Lender<br />
Everline [London, 2012]: Everline is a provider of working capital financing to SMBs in UK. Businesses can<br />
borrow up to £120,000 for up to 24 months with annualised credit costs typically between 16-24%. Customers<br />
can repay early, in full or in part, at any time at no extra cost as they are only charged interest for the time they<br />
have borrowed the funds. Everline was acquired by Orange Money (which operates under a trading name of<br />
Ezbob) in 2015.<br />
131<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (38/55)<br />
Company Details Funding Investors<br />
Working Capital<br />
- Direct Lender<br />
Working Capital<br />
- B2C<br />
Working Capital<br />
- B2C<br />
Working Capital<br />
- B2C<br />
Marketplace<br />
IOU Financial Inc [Kennesaw, 2006]: IOU Financial is a US based provider of working capital loans to small<br />
businesses. It offers fixed interest loans from $5,000 to $150,000 for a loan tenure of 6,9 or 12 months with a<br />
personal guarantee of the borrower. It has, so far, offered loans of $200M to a range of businesses like medical,<br />
dental, grocery and retail for purposes such as expansion, inventory building, purchases etc.<br />
Kabbage [Atlanta, 2009]: Kabbage is a provider of working capital loans for small businesses. It leverages data<br />
generated through business activity such as seller channels, social media, shipping data, and other sources to<br />
understand performance and delivers financing options for small businesses. The loans are made by Celtic Bank.<br />
In addition to this, Kabbage also provides white label platforms to companies wanting to start their own lending<br />
platforms. Has so far raised $350M in debt from Western Technology Investment, Thomvest Ventures, Victory<br />
Park Capital, Guggenheim Securities and others. In January 2014, Forbes named Kabbage one of the Top 100<br />
Most Promising Companies. All Kabbage business loans are issued by Celtic Bank, a Utah-Chartered Industrial<br />
Bank.<br />
CAN Capital [New York City, 1998]: CANCapital is a credit source for small businesses, the portal offers term<br />
loans and merchant cash advances to borrowers. The business loans can range from $2,500 to $150,000 for a<br />
term not exceeding 24 months. The merchant cash advances are future credit card sales bought by the platform<br />
at a discount, and are repaid in as a percentage of sales weekly. The company has been in operation for<br />
seventeen years and funded over 156,000 small businesses. CanCapital has raised a US$650M credit line and<br />
makes the loans through Web Bank.<br />
Lendingkart [Ahmedabad, 2014]: Lendingkart is a web platform that enables SMBs to apply for working capital<br />
to tackle their business growth. The company uses client’s cash-flow, credit history and customer experiences to<br />
evaluate the business. Customers can select the amount they need and for the amount of duration to get the<br />
amount of repayment required. The company charges 1% one-time fees for setting up their line of credit in the<br />
system, which is payable only if the customer avails the credit facility. Funds offered range from INR 1 lakh - INR<br />
50 lakh. Raised $9.5 M ($7 M in equity and $2.5 M in debt) since its inception in April 2014. Reportedly in talks<br />
with large fund houses to raise $25 million by June/July 2015.<br />
$358.6M<br />
$93M<br />
$10M<br />
Mohr Davidow Ventures, BlueRun<br />
Ventures, Thomvest Ventures,<br />
UPS, Lumia Capital, The TCW<br />
Group, SoftBank, SV Angel,<br />
Reverence Capital Partners, ING<br />
Group, Mariano Belinky,<br />
Scotiabank<br />
Accel Partners, QED Investors,<br />
Ribbit, Meritech Capital Partners,<br />
Wells Fargo Bank<br />
India Quotient, Saama Capital,<br />
Mayfield Fund<br />
Working Capital<br />
- B2C<br />
Marketplace<br />
Finexkap [Paris, 2012]: FINEXKAP is a lending platform which connects small and medium-sized businesses<br />
and qualified investors. It is a web-based marketplace providing short-term working capital financing, through<br />
Finexkap AM, its fund management affiliate company.<br />
$7.5M<br />
FinSight Ventures, Kima Ventures<br />
132<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (39/55)<br />
Company Details Funding Investors<br />
Working Capital<br />
- B2C<br />
Marketplace<br />
Working Capital<br />
- B2C<br />
Marketplace<br />
Working Capital<br />
- P2P<br />
Marketplace<br />
Working Capital<br />
- P2P<br />
Marketplace<br />
Working Capital<br />
- P2P<br />
Marketplace<br />
Growth Street [London, 2013]: Growth Street offers a revolving credit facility as an alternative to a bank<br />
overdraft. This allows companies to access capital when they need it, repay when they want, and only pay<br />
interest on what they borrow, when they borrow. It allows HNIs, sophisticated investors and company/institution<br />
to lend on the platform.<br />
LoanZen [Delhi, 2015]: LoanZen is a lending marketplace aiming to connect small business borrowers with<br />
lenders for short term working capital finance. The marketplace allows small private limited companies in the<br />
services sector to post their invoices on the marketplace and get unsecured loans from lenders who are<br />
comfortable with the borrower credit profile. The platform is primarily built for companies with quality clients<br />
(MNCs, large Indian corporates) in the software / HR / advertising / media / staffing / accounting services sectors.<br />
Their aim is to leverage technology to be able to both underwrite credit risk for asset light companies and connect<br />
borrowers with lenders in a transparent marketplace that enables them to leverage quality credit histories for<br />
lower cost credit.<br />
LoanBook Capital [Barcelona, 2012]: LoanBook Capital is a Spanish peer-to-business (P2B) finance platform,<br />
providing an alternative to traditional savings and fixed income products to investors of all types via direct<br />
participation in loans, and other forms of credit finance to Spanish SMEs. SMEs borrow from a multitude of<br />
people through an auction mechanism while people are able to diversify their portfolio by lending to a broad<br />
range of companies. Prior to get to the marketplace, businesses pass through a credit and risk analysis process.<br />
Also has a secondary market for trading loan participations. The types of loans offered to borrowers are working<br />
capital loans, credit lines and notes financing.<br />
Capital Match [Singapore, 2014]: Capital Match provides short term financing (invoice discounting, working<br />
capital loans) to businesses for amounts between S$50,000 and S$200,000. The tenure of the loan varies<br />
between 3-12 months and the interest rate between 1.5-2.5% per month. Borrowers can withdraw the money to<br />
their accounts once 80% of the total loan amount has been funded. The investors can invest minimum S$1,000<br />
and pay 20% of the interest earnings as a commission to Capital-Match. Company's directors provide a personal<br />
guarantee on the loans taken by the company.<br />
NetInvesting [Warsaw, 2013]: NetInvesting provides a peer to peer financing platform for businesses to raise<br />
finance on terms which match their needs and abilities to pay and provide investors with a range of investment<br />
projects from which they can choose. The platform is dedicated to businesses with a limited access to the bank<br />
financing and looking for alternative to capital market financing sources, and investors looking for alternative<br />
ways of investing. For growing companies it is a source of fast affordable short-term and equity financing<br />
outperforming bank and market financing for speed and formalities.<br />
$2.2M<br />
$0.7M<br />
CE-Tech Invest, Crystal Horse<br />
Investments, Innosight Ventures<br />
133<br />
Alternative Lending Report, December 2015
Business Loans (40/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Merchant Cash<br />
Advance<br />
NeoGrowth [Mumbai, 2010]: NeoGrowth Credit is a non-deposit taking NBFC that is involved in the merchant<br />
cash advance business. Neogrowth extends short term working capital and inventory loans to small merchants in<br />
India against future sales from credit and debit cards on its POS. Its flagship product is NeoCash, an online<br />
lending financing option for businesses with no-fixed EMI model and a flexi-repayment scheme. The firm extends<br />
financing if a substantial portion of borrowers’ sales happens on the PoS machine.<br />
$11.6M<br />
Aspada Investments, Omidyar<br />
Network, Khosla Impact, Accion<br />
Merchant Cash<br />
Advance<br />
Cash Flow Capital [Pretoria, 2014]: Cash Flow Capital provides merchant cash advance to SMEs in South<br />
Africa. Repayments are deducted from the daily revenues of the merchant.<br />
Merchant Cash<br />
Advance<br />
Tiger Funding [Miami, 2014]: Tiger Funding provides merchant cash advance within a range of $3,000-<br />
$500,000. In order to qualify for the advance the business must be operative for atleast 6 months and have<br />
$10,000.00 in bank deposits every month.<br />
Merchant Cash<br />
Advance<br />
Smart Business Funding [Brooklyn, 2014]: Smart Business Funding is a financial services provider focused<br />
on helping solve the cash flow needs of small businesses. It offers merchant cash advance. The businesses<br />
which can access loan from Smart Business Funding include furniture store, sporting goods store, gas station,<br />
doctors & medical practices, salons, restaurants.<br />
Swift Financial Corporation [Wilmington, 2006]: Swift Capital offers merchant cash advance to small<br />
businesses. Businesses can get funding amounts ranging from $5,000 to $300,000, depending on monthly<br />
revenue, financial payment history and business strength. Minimum requirements for funding are at least one<br />
year in business and at least $5,000 in monthly revenue.<br />
Merchant Cash<br />
Advance<br />
134<br />
Alternative Lending Report, December 2015
Business Loans (41/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Merchant Cash<br />
Advance<br />
Merchant Cash<br />
Advance<br />
Sterling Funding [Tampa, 2005]: Sterling Funding provides merchant cash advances to businesses. Its<br />
business cash advances generally range from $5,000 -$250,000 depending on the business size and type. The<br />
business that it provides cash advance include restaurants, auto service centers, liquor stores, salons, bakeries.<br />
BillFront [London, 2014]: BillFront is an online lending platform that provides working capital solutions to media<br />
houses and app developers. It extends advances to the customers after looking at their accounting data with<br />
which it integrates by its API or by logging into the user's system. It charges a fee of 2.5% on the advances it<br />
extends.<br />
Merchant Cash<br />
Advance<br />
Elevate Funding [Gainesville, 2015]: Elevate Funding provides uncollateralized merchant cash advances to<br />
SMBs of up to $250,000. There are no restrictions on the funds provided, and can be used for remodeling,<br />
payroll, advertising, or new equipment.<br />
Merchant Cash<br />
Advance<br />
Yalber [Teaneck, 2007]: Yalber provides alternative financing options to businesses such as merchant cash<br />
advance, business loans and royalty-based investments. In royalty-based investments, the company receives a<br />
royalty, or a percentage, of a business's sales until the specified ROI is reached. It also provides a line of SaaS<br />
products created for the alternative-lending market.<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Lighter Capital [Seattle, 2010]: Lighter Capital is an alternate lending platform that provides loans to techfocused<br />
startups involved in technology services like SaaS, software, technology and digital media/advertising.<br />
The principal amount lent is up to $1M or up to 1/3rd of company's annualized return rate. Repayments are<br />
scaled to company's revenue and terms are available at variable interest rates. All loans are set to a maximum<br />
term of 5 years but can be repaid sooner depending on the revenue generation of the company. The loans are<br />
secured only against the assets of the business. The company has so far participated in over 40 financings with<br />
over 30 companies.<br />
$6M Voyager Capital, Founder's Co-op<br />
135<br />
Alternative Lending Report, December 2015
Business Loans (42/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Snap Advances [Salt Lake City, 2008]: Snap Advances pays you in advance for a portion of your future credit<br />
& debit card transactions. As the customers pay, the advance is paid back with a small, fixed percentage of<br />
the daily transactions.<br />
$3.5M<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Knight Capital [Miami, 2013]: Knight Capital Funding offers merchant cash advance. In order to qualify the<br />
business must be operative for atleast 6 months and its monthly revenue must exceed $10,000. The industries<br />
they serve include constructon, retail, restaurant, salon, manufacturing, automotive.<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
New Era Lending [Wilmington, 2012]: New Era Lending provides short-term 3 to 12 months commercial loans<br />
of up to $300K. In order to qualify for loan, the business must be operative for at least 6 months and have<br />
minimum $15K in revenue per month.<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Happy Rock [New York City, 2008]: Happy Rock Merchant Solutions California Licensed Lender. It provides<br />
finance to small businesses. The borrowers pay back with a percentage of their future credit card receipts. To<br />
qualify, the borrower needs to have been in business a year or more and process a minimum of $5,000 per<br />
month in credit card sales. Cash advances range from $2,500 to $300,000.<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Better Capital Corp. [Toronto, 2014]: Better Capital provides revenue based financing to SMBs which do not<br />
qualify for conventional financing. It offers financing from $200,000 to $3M to companies and seeks to take a<br />
royalty of 2-8% without any personal guarantees from the business owners.<br />
136<br />
Alternative Lending Report, December 2015
Business Loans (43/55)<br />
Company Details Funding Investors<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Merchant Advance Express [Uniondale, 2012]: Merchant Advance Express is a premier provider of unsecured<br />
cash advances for small businesses. It offers credit lines up to $100,000 for various reasons such as renovations,<br />
expansions, pay down debt, purchase additional inventory or equipment, payroll or just general business cash<br />
flow. Its services are used by businesses in varied industries such as retail, healthcare provider, hospitality<br />
sector and construction.<br />
Liberis [London, 2013]: Liberis provides alternative financing options to businesses in UK. Some of its main<br />
products are business cash advance, business loans, unsecured business loans and business credit cards. It<br />
offers between £4,000 and £300,000 or upto 100% of merchant's average monthly revenue. The repayment is<br />
also linked to the monthly revenue of the business.<br />
onlinecheck [Essex, 2003]: Merchant Advisors provides payments solution including ACH processing, credit<br />
card processing and alternative small business financing via business cash advance solution. It offers a full suite<br />
of financing options including SMB loans, secured and unsecured loans, working capital loans, merchant check<br />
advance and account receivable financing. It also offers payment processing services including card processing,<br />
PoS systems and other hardware, and merchant gift-card program.<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
BusinessLoansDirect [ , 2013]: Business Loans Direct provides alternative financial to businesses including<br />
business cash advance, small business loans, merchant cash advance, restaurant financing, bar and nightclub<br />
financing and medical business financing. The maximum amount allowed to be borrowed is $250,000 and the<br />
repayment is either a fixed instalment per month or as a fixed % of daily card sales. The loans are secured<br />
against the business' receivables.<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
eSmallBusinessLoan [ , 2012]: eSmall Business Loans provides alternative working capital financing to<br />
businesses in the form of Merchant Cash Advance and Commercial Cash Advance. The advance can be up to<br />
125% of merchant's average monthly revenue and the repayment is tied up to merchant's credit card<br />
sales/monthly revenue.<br />
137<br />
Alternative Lending Report, December 2015
Business Loans (44/55)<br />
Company Details Funding Investors<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Prompt Lending LLC [Scottsdale, 2013]: Prompt Lending provides financing to small businesses in the range<br />
of US$5,000 to US$500,000. It offers a variety of alternative financing methods including merchant cash<br />
advance, bank only program, poor credit financing (based on historical sales) and cash flow financing. It serves<br />
diverse set of businesses including contractor financing, dealership financing, healthcare provider financing and<br />
restaurant financing.<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Merchant Cash<br />
Advance - Direct<br />
Lender<br />
Capital For Merchants [Troy, 2005]: Capital For Merchants provides merchant cash advance of up to $500,000<br />
to businesses such as restaurants, bars, beauty salons, auto shops and retail stores. Repayments can be made<br />
either by ACH or as a % of credit card sale. It is a subsidiary of North American Bank.<br />
Merchant Cash and Capital [New York City, 2005]: Merchant Cash and Capital provides merchant cash<br />
advances to businesses in need of working capital finance. The platform allows businesses to raise up to<br />
$500,000. The costs levied on the advance is determined on a per case basis, with several factors being<br />
considered such as amount borrowed, projected time of repayment, and in some cases even FICO scores of the<br />
applicants. The platform has received debt financing commitments worth $75 million from Comvest Group.<br />
Merchant Cash<br />
Advance - B2C<br />
Marketplace<br />
Fleximize [Ipswich, 2013]: Fleximize is a UK based business lending platforms. Business receive an immediate<br />
capital lift in exchange for a small portion of future revenue at a fixed cost. It offers loans from £1,000 to £1 million<br />
+.<br />
Merchant Cash<br />
Advance - B2C<br />
Marketplace<br />
All Business Loans [Bala Cynwyd, 2010]: All Business Loans provides business loans between $5,000 and<br />
$50M to business owners for a loan tenure of 4-12+ months. The loans are of two types: Merchant Cash Advance<br />
and Unsecured Business Loans. The platform matches the borrowers with a range of lenders which can then<br />
proceed to approve the borrower and extend a suitable line of credit. Repayment is usually fixed as a % of the<br />
future revenue of the merchant.<br />
138<br />
Alternative Lending Report, December 2015
Business Loans (45/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Company Details Details Funding Funding Investors Investors<br />
Mortgage Loans<br />
Mortgage Loans<br />
Mortgage<br />
Mortgage<br />
Loans<br />
Loans<br />
crowdcitee [London, 2015]: Crowdcitee is is a a real real estate estate crowd crowd investing platform with with main main operations in in Europe<br />
and and Asia. Asia. Crowdcitee is is a a collaboration between Grow Grow VC VC and and Sapphire Capital Partners.<br />
The Loan King [Calgary, 2009]: The Loan King provides loan services to to individuals and businesses of of<br />
Southern Alberta. It It does not deal with credit bureaus or or credit companies and there are no no credit checks<br />
required for for loan approvals. An amount of of $1000 –– $25,000 can be be borrowed using your Car, Truck, Van, SUV,<br />
Semi-Truck, Gravel-Truck, Service Vehicle, Motorcycle, RV, Motor Home, Heavy Duty Equipment, and<br />
Machinery. The company loans up up to to 50% of of the wholesale value of of the vehicle. Customers have the choice to to<br />
borrow for for a a minimum of of 33 months to to a a maximum term of of 24 24 months.<br />
PLUM [San Francisco, 2014]: Plum is is a a marketplace lender providing non-recourse commercial real real estate<br />
financing. The The loans can can be be availed for for different property types including multifamily, office, retail, industrial,<br />
manufactured housing and and self-storage. It It offers permanent loans with with a a loan loan size size between $1M $1M and and $25M and and a a<br />
tenure of of 5,7,10 years and and a a 30 30 year year amortization. The The bridge loan loan amounts vary vary between $5M $5M and and $100M with with a a<br />
55 year year maturity.<br />
Mortgage Loans<br />
Mortgage - Direct Lender Loans<br />
- Direct Lender<br />
Mortgage Loans<br />
Mortgage - Direct Lender Loans<br />
- Direct Lender<br />
Visio [Austin, 2011]: Visio is an alternate lending platform that enables real estate project owners to raise funds.<br />
Visio [Austin, 2011]: Visio is an alternate lending platform that enables real estate project owners to raise funds.<br />
The loan product on offer is a term loan with interest rates that start as low as 5% and can rise to beyond 18%.<br />
The loan product on offer is a term loan with interest rates that start as low as 5% and can rise to beyond 18%.<br />
The loans are secured against the property value, and the minimum acceptable FICO score on applications is<br />
The loans are secured against the property value, and the minimum acceptable FICO score on applications is<br />
580. The portal charges a closing fee on every loan application processed.<br />
580. The portal charges a closing fee on every loan application processed.<br />
iCap Equity [Issaquah, 2011]: iCap Equity is an investment capital fund located in the Pacific Northwest with a<br />
iCap focus Equity on equity [Issaquah, investment 2011]: and iCap lending Equity for real is an estate investment deals. capital iCap funds its located own loans in the and Pacific also Northwest draws upon with a a<br />
focus wide on network equity of investment real estate and lenders lending for for potential real estate bridge deals. loan, iCap construction funds its loan, own loans or an and architecture also draws and upon a<br />
wide development network of loan. real It estate also purchases lenders for loans potential from bridge lenders loan, who construction want to exit loan, their loans' or architecture portfolio. iCap and also provides<br />
development equity for real loan. estate It also transactions purchases and loans underwrite from lenders their deals who want for borrowers to exit their who loans' require portfolio. cash investments iCap also provides to<br />
equity obtain for a loan. real estate Equity transactions investments and require underwrite the repayment their deals and for profit borrowers share usually who require within cash a span investments of 18 months. to<br />
obtain a loan. Equity investments require the repayment and profit share usually within a span of 18 months.<br />
$8.5M<br />
$8.5M<br />
$3.1M<br />
$3.1M<br />
Octavia Investments LLC<br />
Octavia Investments LLC<br />
139<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (46/55)<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
- Direct Lender<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Newfi [Emeryville, 2014]: Newfi provides an online platform for mortgage lending. It allows users to create their<br />
profile to get a customized rate on the platform. Users can then upload their documents and track the stage at<br />
which their loan process is. Once the documentation has been closed, consumers receive their funding amount.<br />
Newfi is a part of Nexera Holdings.<br />
LendingHome [San Francisco, 2013]: Lending Home is an online mortgage marketplace for real estate loan<br />
borrowers, investors, and brokers. It offers bridge loans, rental loans and is planning to offer consumer mortgage<br />
loans as well. It allows both institutional investors and accredited retail investors to invest on its platform.<br />
Institutional investors including hedge funds, private equity, mortgage desks, family offices, university<br />
endowments can start investing with a minimum investment amount of US$10,000 and retail investors from<br />
US$1,000. Lending Home is a direct lender and sells whole loans to institutional or retail investors.<br />
Realty Mogul [Los Angeles, 2012]: Realty Mogul is an online platform for real estate based lending providing<br />
loan products such as fix-and-flip loans, bridge and permanent loans and joint venture equity. It offers equity<br />
capital in real estate projects between $1M and $5M with a hold period of 2-10 years and a minimum IRR of 15%<br />
to investors. It provides residential loans starting from $100,000 for a loan tenure of 12 months with an optional 6<br />
months extension. The commercial loans start from $1M with a loan tenure between 1 and 1o years, depending<br />
upon the type of loan required. The minimum amount required for investors to start lending is $10,000. It has over<br />
17,000 active institutional and accredited investors who have invested $80M in over 250 properties.<br />
Fundrise [Washington, 2010]: Fundrise.com is an equity crowdfunding platform for local real estate. Allows<br />
everyday citizens and ordinary investors to purchase securities in local real estate projects. The idea is to cut out<br />
the middle man- which is typically banks- thus eliminating the unnecessary fees. Fundrise not only screens and<br />
selects projects for potential investment, but also handles the legal documentation and manages the transaction.<br />
This includes financial reporting, as well as the distribution of money, perks, and rewards. The way an investment<br />
will make money varies from project to project, but may include revenues from rent or other profit-sharing<br />
mechanisms. Individual investors like Justin Elghanayan (Rockrose president) and James Ratner (chairman and<br />
CEO of Forest City Commercial Group)<br />
Patch of Land [Los Angeles, 2013]: Patch of Land is a peer to real estate crowdfinancing platform, offering<br />
accredited investors the opportunity to invest in high yield, asset-backed real estate debt deals with low minimum<br />
investments. Properties are secured by title and developer guarantee with LTV values that protect investors from<br />
unnecessary risk. Patch of Land acts as a coinvestor, they invest by putting their own money into every deal. In<br />
September, 2014 the platform secured a debt funding of $125,000.<br />
$110M<br />
$45M<br />
$40M<br />
$24.8M<br />
Ribbit Capital, First Round Capital,<br />
Foundation Capital, Renren Inc.,<br />
Colony Capital INC, Cowboy<br />
Ventures<br />
Sorenson Capital, Canaan<br />
Partners<br />
Renren Inc., Guggenheim Partners,<br />
WestMill Capital<br />
SeedInvest<br />
140<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (47/55)<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Asset Avenue [Los Angeles, 2013]: AssetAvenue is a marketplace that provides finance to real estate project<br />
owners of up to $20M through loans provided by institutional investors. It offers acquisition, refinance, and valueadd/renovation<br />
loans on all commercial and non-owner occupied residential projects. Investors can invest<br />
between $5,000 and $25M per loan in loans, or notes, secured by commercial real estate and diversify their<br />
portfolio across loans. The platform provides acquisition, refinance, and value-add/renovation loans on all<br />
commercial and non-owner occupied residential projects. The platform charges an origination fee and standard<br />
closing fees to borrowers.<br />
RealtyShares [Mountain View, 2013]: RealtyShares.com is an equity crowdfunding platform for real estate<br />
investments. Investors can make money primarily in two ways: 1) through the appreciation of the property, and 2)<br />
quarterly dividends paid from rents that exceed expenses. They offer different types of real estate investments to<br />
choose from- some which are intended to be long-term holds and others intended as short-term flips. One must<br />
be an accredited investor in order to use the platform. The minimum investment amount is $500, but may change<br />
depending on the specific investment being offered. It uses all-or-nothing funding<br />
Acquire Real Estate [Miami, 2013]: Acquire Real Estate is real estate crowdfunding platform for debt and equity<br />
investments. The platform is open to accreddited investors willing to pledge a minimum of $10,000 in real estate<br />
projects. Acquire Real Estate invests its own capital in every project along with investors, thereby inspiring<br />
greater confidence on the listings it posts. The platform charges a several fees to investors in various stages of<br />
investing.<br />
$15M<br />
$11.9M<br />
$6M<br />
Matrix Partners, NetEase, BAM<br />
Ventures, VECTR, Launchpad LA,<br />
DCM<br />
Menlo Ventures, General Catalyst<br />
Partners<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
EarlyShares [Miami, 2011]: EarlyShares provides real estate owners, operators, and developers with costeffective<br />
solutions for raising capital online under new regulations. In doing so, they also give accredited investors<br />
access to the kinds of return-driven commercial real estate investments that have traditionally only been available<br />
to institutional and ultra high-net worth investors.<br />
Innovational Funding [New York City, 2012]: iFunding brings together project developers and accredited<br />
investors for equity investments in real estate projects. The portal lists properties for investors to browse and<br />
fund. Once a funding goal of a project is met, the portal creates a Single Purpose Vehicle LLC to manage the<br />
investment during the term. The portal charges a listing fee and its quote for services varies with every listing.<br />
iFunding has more than 7,000 accredited investors on their platform, and have raised over $40 million for real<br />
estate investments.<br />
$5.9M<br />
$4M<br />
141<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (48/55)<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Money360 [Ladera Ranch, 2010]: Money 360 offers real estate purchase or refinancing loans to borrowers for<br />
commercial or non-owner occupied residential properties. It offers loans in the range of $1M to over $20M for a<br />
tenure ranging between 6 months to 5 years. The loans are secured by placement of first lien on the asset and<br />
LTV does not exceed 80%. Loans are provided by accredited investors including banks, insurance companies,<br />
pension funds and High-Net Worth individuals. The investors have options to purchase seasoned whole loans or<br />
buy loan participations via loan-specific, bankruptcy-remote LLCs. It has so far raised $113M of funding including<br />
$111M of debt funding.<br />
$2M<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
CityFunders [New York City, 2014]: CityFunders is the an online portal for investors to invest in real estate<br />
investments in the New York City area. Minimum required investment is $5000. Returns on debt investments are<br />
typically paid monthly, and equity investments are paid quarterly.<br />
Fund That Flip [New York City, 2014]: Fund That Flip provides residential real estate investment opportunities<br />
to accredited investors by partnering with professional real estate re-developers. Investors can review and<br />
diligence each opportunity on company's website and short-list companies to invest in. Investors need to invest a<br />
minimum of US$5,000 per project and can diversify the portfolio across deals. Each project provides monthly<br />
interest payments and is backed by a first lien on the project. It charges a one-time origination fee on the loans<br />
ans also generates revenue from the spread in interest rates it charges borrowers and what it passes on to<br />
investors.<br />
$1M<br />
$40k<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Thinktank [Sydney, 2006]: Thinktank Commercial Property Finance provides mortgage commercial property<br />
finance between $100,000 and $5 million to owner occupiers and investors for property purchases, refinancing of<br />
existing loan, equity release for property improvement, investment, working capital and business expansion. They<br />
also offer Line of Credit and Flexi Loan (short term loans from 6 months to 3 yrs).<br />
RoundVIP [Geneva, 2014]: RoundVip is an real estate crowdfunding platform which offers pre-screened real<br />
estate investment opportunities to accredited investors and family offices. RoundVIP features both equity and<br />
debt investments, in a variety of cities and real estate asset classes, including: Residential, Commercial, Office,<br />
Retail, Mixed-Use and Land opportunities. There are no investor fees for joining RoundVIP and accessing the<br />
investment opportunities. Fees are paid by the developer or property owner only upon successful fundraising<br />
campaign.<br />
142<br />
Alternative Lending Report, December 2015
Business Loans (49/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
OneSource by pcs [Calabasas, 2015]: OneSource by PCS is an online real estate finance marketplace for<br />
accredited and institutional investors to invest in mortgage loans. The returns on the platform vary between 4-<br />
9.5%. The funding is allowed for investment and non-owner occupied transactions including construction,<br />
residential, commercial properties.<br />
Raisal.com [Coral Gables, 2014]: Raisal is an online marketplace for commercial mortgage loans. It provides a<br />
host of services to borrower to facilitate the lending such as Loan Request Card (the request visible to lenders<br />
and includes financial and personal details of the borrower), StreetView Pictures (to include actual street images<br />
of the property), Interactive Valuation Modelling, Cashflow Evaluation and Affordability Analysis and Interactive<br />
Negotiations. As of August 2015, Raisal is under development.<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
MortgageHippo [Chicago, 2013]: Mortgage Hippo is an online mortgage marketplace. It allows the users to<br />
create their application on the website and get pre-approved for eligible offers. The loan is then disbursed by one<br />
of the lenders which work on the platform.<br />
Crowdahouse [Stevenage, 2012]: Crowdahouse is a B2B lending platform for real estate loans for businesses<br />
secured against the property. Borrowers can borrow upwards of £20,000 for a loan tenure between 9 months and<br />
5 years. The minimum amount to lend for an investor is £500 and thereon in blocks of £500. The investor can<br />
choose to sell the whole loan in the secondary marketplace "Crowdabourse". Interest rates are generally<br />
between 5-6% for a simple purchase or refinance and up to 10% for purchase & refurbishment or<br />
development projects. Crowdahouse was initially launched in 2012 as an equity funding platform but relaunched<br />
in 2015 as a debt-based funding platform.<br />
HouseFundr [London, 2014]: HouseFundr is a P2P real estate debt platform catering to financing real estate<br />
development projects in central and greater London. It offers curated real estate development opportunities to<br />
retail and institutional investors. HouseFundr sources suitable development investment opportunities through a<br />
network of real estate developers. Investment opportunities typically span up to £2.5M, the individual minimum<br />
investment required is £50. As of August 2015, the company is still in development phase.<br />
143<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Business Loans (50/55)<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
Mortgage Loans<br />
- B2C<br />
Marketplace<br />
CapitalStackers [Stockport, 2013]: CapitalStackers is an online P2P lending platform for real estate investment<br />
and development. It provides secured financing to real estate developers who want to bridge the gap between<br />
senior debt and self equity by sourcing the funds from investors on its platform. It also helps the borrowers source<br />
senior debt from bank if they're unable to do so. For investors it offers lending options which are either Agreed, in<br />
which lenders and borrowers agree on a deal, and Non-Agreed, where there is a standard auction process for the<br />
loans and investors can commit to loans based on their risk appetite. The loan is split in risk-based parts based<br />
on LTV thus giving investors option to invest in the loan in the band which suits their risk-return preference.<br />
Returns usually range from 5% to 20% and the minimum level of investment is £5,000.<br />
Lend2Fund [Sydney, 2014]: Lend2Fund is an online platform that enables global investors to directly fund small<br />
businesses. It screens and curates property-backed loan applications for commercial real estate assets. Investors<br />
then underwrite the loans and place fractional bid on the platform to form a price for the asset. A secondary<br />
private exchange will be available for passive investors that do not wish to participate in the primary market<br />
underwriting process. The secondary exchange will provide fixed-interest investment notes priced per risk grade.<br />
Real time book building, weighted average pricing and comparative yield curve data are just some of the<br />
features. It provides standardized, detailed asset and market data through an open API<br />
Blackhawk Corp [San Francisco, 2011]: Blackhawk provides real estate backed P2P lending. It currently<br />
boasts of 6% to 11% of annual returns over a fixed time period ranging from 1 to 3 years. The loans can be<br />
borrowed for commercial and non-owner occupied residential properties and can range between $25,000 and<br />
$200M. The company only permits accredited investor and organizations to invest in the loans and allows up to<br />
100% funding of the loan with the minimum investment amount as $25,000. It does not charge the investors<br />
anything but charges an origination fee of 2.5% from the borrowers.<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Fruitful [Liverpool, 2013]: Fruitful enables savers to lend their money directly to business mortgage borrowers.<br />
All the money lent is secured by borrower's property.<br />
$6M<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Lenndy [Vilnius, 2015]: Lenndy is a real estate crowdfunding platform in Lithuania. It is a solution for real estate<br />
developers to raise capital and for investors to invest spare money starting from €100 and earn solid ROI. The<br />
system works like this: users who want to invest their funds in real estate projects, to lend their money to other<br />
users who are looking for financing real estate projects.<br />
144<br />
Alternative Lending Report, December 2015
Business Loans (51/55)<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Estateguru [Tallinn, 2013]: EstateGuru is an online peer-to-peer (p2p) marketplace for property Investments<br />
and loans with an ambition to become a leading cross-border marketplace for short-and mid term property loans<br />
in Europe. Currently loans can be applied against real estate in Estonia. EstateGuru lets investors access a<br />
variety of real estate investments with a relatively small amount of capital. The minimum amount for investment is<br />
50 euros, which enables to create much diversified portfolio. All loans are secured by real estate asset. Average<br />
interest is 11.90% to investors.<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Crowdestate [Breda, 2015]: Crowd State is an online platform where real estate developers can offer their<br />
projects and may bring to the attention of investors. Investors can choose from various projects on the platform<br />
and invest. The projects are placed on the platform after they are closely monitored for quality and feasibility.<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Home Rocket [Graz, 2015]: HOME ROCKET is the crowdfunding platform for real estate projects in Germany<br />
and Austria, and offers real estate financing through Crowd Investing. It claims to be the first crowdfunding<br />
platform in Austria, which specializes in real estate projects and opens real estate market to retail investors.<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Real Funds [London, 2014]: Real Funds is a peer-to-peer lending platform for small and medium-sized house<br />
builders. Its allows an investment of as little as £100 in pre-vetted development projects for returns upto 10-12%.<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Crowdestates [London, 2013]: Crowdestates is a peer to peer lending platform aimed at providing financing for<br />
property developers. The platform was launched following a successful period on the Barclays/Techstars<br />
programme.The investor can choose the right investment and risk profile to satisfy his goals and invest. The<br />
platform handles all legal documentation, communications and payments. Once interest has been paid on the<br />
project or it has been completed and the money will be returned to the investor to realise the profit or to reinvest<br />
in a new project.<br />
Barclays Accelerator<br />
145<br />
Alternative Lending Report, December 2015
Business Loans (52/55)<br />
Company Details Funding Investors<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
CrowdProperty [London, 2014]: Crowd Property is a P2P lending platform to facilitate real estate loans<br />
between private individuals and professional property businesses which are secured by first lien on the property<br />
with a tenure of 6-18 months. Once a borrower updates the details of the project on the portal, Crowd Property<br />
appraises the property and releases the same on the website. Lenders then commit to the project with preferred<br />
amount (minimum GBP 500). Lenders have an option to diversify their portfolio by committing to multiple loans.<br />
The interest and principal amount are paid out at the end of the project completion and is usually between 5-11%.<br />
However if the funding goal on the project is not reached, the money is returned to the investors.<br />
Proplend Ltd | Secured P2P Lending [London, 2013]: Proplend is a P2P lending platform which offers<br />
individual lenders the opportunity to lend directly to corporate borrowers where the loan is backed by security<br />
over income producing commercial properties. Once a borrower uploads loan details on the platform, the loan is<br />
divided in different tranches based on LTV (Loan-to-value) and each tranche has its own fixed interest rate<br />
(Tranche A, 0-50% LTV, Low Risk; Tranche B, 51-65% LTV, Medium Risk; Tranche C, 66-75% LTV, Higher<br />
Risk). Lenders can then invest in the loans in two ways: In Funding investments (invest in loans which are<br />
currently in funding, no interest till loans is completely funded) and Proplend Loan Exchange (secondary<br />
marketplace for trading of loan notes). Minimum investment amount is GBP 5,000 and investors can diversify<br />
their portfolio based on location, rate, amount, tranche, loan and asset class.<br />
Mortgage Loans<br />
- P2P<br />
Markeplace<br />
Groundfloor [Raleigh, 2013]: Groundfloor is an alternate lending platform which allows retail investors to invest<br />
in construction, renovation and acquisition of real estate projects. The platform allows private listing by real estate<br />
developers that look for funding for up to $250,000, the developers set a target and an interest rate offered by<br />
them on the funding received. The minimum investment amount is $10, and returns vary on rates that range from<br />
6-26%. The loan tenure if flexible between 6 to 18 months with rates starting at 10%.<br />
Asset Backed<br />
Loans<br />
Lend.Me [Herault, ]: Lend.Me is an online lending platform that facilitates loans with digital assets, such as<br />
domain names and websites, as collateral. It offers loan tenures of 6 months to 3 years with a minimum loan<br />
amount of $3,000. Lender pays to the escrow company the loan amount, and borrower deposits the collateral<br />
(digital assets) under escrow ownership. Escrow pays the borrower the loan amount minus escrow fees. After the<br />
first 3 months the borrower starts paying the quarterly interest and the escrow will forward it to the lender minus<br />
escrow fees. At loan term the borrower will pay the remaining loan balance to escrow minus escrow fee and the<br />
escrow will pay the lender and will send back the digital collateral to the borrower.<br />
146<br />
Alternative Lending Report, December 2015
Business Loans (53/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
Asset Backed<br />
Loans - Direct<br />
Lender<br />
Asset Backed<br />
Loans - B2C<br />
Asset Backed<br />
Loans - B2C<br />
liquidity [Johannesburg, 2014]: Liquidity is an alternative lender providing asset backed loans. It offers loans<br />
against personal and commercial assets such as cars, watches, property, aircraft, yachts, industrial equipments,<br />
jewellery and precious stones, gold, fine art and commercial vehicles. Various loans offered by Liquidy are: 1.<br />
Personal loans: Loans starting from R5,000 and secured against personal assets.; 2. Commercial loans: Loans<br />
starting from R10,000 secured against commercial assets.;3. Bridge financing: Advances against approved<br />
bonds, sellers equity finance and estate agents commission.; 4. Bond origination: Offers bond origination that can<br />
be used standalone product or with their bridge financing.<br />
UltraPawn [Littleton, 2012]: UltraPawn is an online pawn shop providing secured loans for business and<br />
personal requirements. It accepts jewellery, gemstones, electronics, collectibles and industrial equipments in lieu<br />
of the loan amount. Loan disbursed is usually a percentage of the value of the asset secured up to a total $1M<br />
with a repayment period ranging between 30 and 180 days. It provides collateralized business loans, business<br />
cash advance, accounts receivables financing and equipment financing.<br />
Loanzy [New York City, 2014]: Loanzy provides short term asset backed lending for personal and business<br />
needs of up to $5M. The borrower emails the loan details and specification of the asset against which the loans is<br />
to be borrowed. The asset can be either personally dropped off at the Loanzy office or shipped by a pre-paid Fed-<br />
Ex shipping and is 100% insured. The Loan-to-Value ranges between 40% to 70% and interest rate is between<br />
1.99% to 3.99% per month. It accepts luxury watch, jewellery, car, fine art, fine wine, precious stones, boats and<br />
motor yachts and antiques as security for the loans.<br />
Assetline (Australia) Pty Ltd [Bondi, 2012]: Assetline Capital is a specialist short term secured asset lender.<br />
The platform can fund up to $5,000,000 for business loans and $5,000 - $1,000,000 for personal loans.The loans<br />
are from 1 month to 12 months. The assets used to secure business loans include plant and equipment, boats<br />
and cars, valuable personal assets, trade receivables, while personal loans are secured against gold and<br />
precious metals, jewellery and diamonds, luxury watches, fine art & antiques, luxury cars, luxury boats, fine<br />
wine collections.<br />
Brydg [London, 2014]: Brydg provides short term, property-backed bridge financing. It offers loans between<br />
GBP 100,000 and GBP 3M for a loan tenure between 1-12 months.<br />
Project Loans<br />
147<br />
Alternative Lending Report, December 2015
Business Loans (54/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Project Loans -<br />
B2C marketplace<br />
Project Loans -<br />
B2C marketplace<br />
Project Loans -<br />
B2C marketplace<br />
Project Loans -<br />
P2P Marketplace<br />
Mosaic [Oakland, 2011]: Mosaic is a crowdfunding marketplace where investors can lend to borowers who are<br />
in need of funds for their solar power projects. The investors can put in as little as $25 to start funding and<br />
supporting clean energy. Over the period of two years (2011-2013), nearly 2,000 people have invested over<br />
$3.8M in solar projects through Mosaic’s platform<br />
SunFunder [San Francisco, 2012]: SunFunder is solar finance business based in San Francisco and Tanzania<br />
that connects investors to high-impact solar projects that improve the lives of low-income communities in Africa,<br />
Asia and Latin America. Raises and aggregates capital to finance solar projects from both non-accredited<br />
investors on their web platform sunfunders.com and directly from accredited and institutional investors through<br />
our Solar Empowerment Fund (SEF) note issuances. Their focus is on providing short-term, working capital and<br />
project finance loans for solar lighting, phone charging, micro-grids and commercial solar projects. Was<br />
incubated in Better Ventures. Since 2012, SunFunder has launched 9 solar customer relationships, facilitated<br />
over $414,000 of loans with a 100% repayment rate and impacted 105,000 people with affordable solar energy.<br />
Open Energy Group [New York City, 2013]: Open Energy is an alternate lending marketplace that provides<br />
loans to solar projects that need funding. The platform offers loans starting from $500,000 to $10,000,000, with a<br />
term no longer than 10 years. Open Energy charges borrowers a fee of 1.95% and an interest rate that is usually<br />
6.5%. The loans are funded by institutional and accredited investors that have partnered with Open Energy.<br />
Neighborly [Kansas City, 2011]: Neighborly is a community investing platform that helps communities create<br />
assets without relying on tax revenues. It is partnering with the cities, communities, and organizations to create<br />
rewarding opportunities for citizens and with companies and institutions to earn perks. It allows to everyone to<br />
invest in municipal bonds to support city projects. The investor gets the capital back plus interest.<br />
$20.4M<br />
$2.5M<br />
$6M<br />
U.S. Department of Energy, Spring<br />
Ventures<br />
Khosla Impact<br />
Structure, 500 Startups, Bee<br />
Partners, Formation 8, Maven<br />
Ventures | VC & Incubator<br />
Project Loans -<br />
P2P Marketplace<br />
Abundance [London, 2009]: Abundance is an alternative lending platform that offers retail investors to invest in<br />
debentures of a clean energy project that is in nee of funding. The objective of the portal is to facilitate funding for<br />
clean energy projects while offering an investment opportunity that is relatively more lucrative than that offered by<br />
traditional lending platforms.<br />
$4.5M<br />
148<br />
Alternative Lending Report, December 2015
Business Loans (55/55)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Project Loans -<br />
P2P Marketplace<br />
Trillion Fund [London, 2010]: Trillion Fund is an open renewable energy investment platform for investing<br />
directly in large-scale clean energy projects. Trillion Fund is an appointed representative of Abundance NRG Ltd,<br />
which structures the debentures for the Energy Projects. Till date, it has raised crowdfunding for direct<br />
investments, funds and local community projects.<br />
Franchise Loans<br />
- B2C<br />
Marketplace<br />
ApplePie Capital [San Francisco, 2014]: ApplePie is a alternate lending marketplace for the credit needs of<br />
franchise businesses. The portal brings together accredited investors who are looking to invest and franchise<br />
businesses in need of credit. The platform offers loans that start at an interest rate of 7% and for a term that is<br />
typically between 3-7 years. Apple Pie determines the interest rates after a rigorous and proprietary underwriting<br />
process.The platform charges an origination fee to borrowers, and a service fee to lenders for every periodic<br />
repayment.<br />
$9.8M<br />
BoeFly [New York City, 2010]: BoeFly is a business financing marketplace that helps business owners seeking<br />
small business loans, commercial financing and franchise financing secure the capital they need.<br />
$4M<br />
Franchise Loans<br />
- B2C<br />
Marketplace<br />
Loans for Non-<br />
Profits - P2P<br />
Marketplace<br />
Semble [Bellevue, 2011]: Semble is an online lending platform that facilitates low cost financing for nonprofit<br />
organizations. This is done by using Semble’s (“Social Investment”) model that allows socially responsible<br />
investors to invest in the loan needs of nonprofits that they support. As enough funds to address the need are<br />
invested by supporters, the nonprofit receives these funds as a loan. Loan payments are then directed back to<br />
those that invested.<br />
149<br />
Alternative Lending Report, December 2015
Alternate Financing (1/8)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
TouchFinancial [London, 2008]: Touch Financial are UK’s largest business finance intermediary and match<br />
business owners to their funding method for their requirements and situation. Has a panel of over 30 lenders to<br />
cater to services. Its invoice financing products consists of invoice discounting and factoring. It also offers<br />
business insurance, credit protection, export/import finance, trade finance and asset finance. It serves a variety of<br />
industries such as recruitment, manufacturing, wholesalers, construction, transport, logistics, publishing and<br />
business services.<br />
0<br />
Invoice<br />
Discounting<br />
Finnovo [Hyderabad, 2015]: Finnovo is a technology platform that aims to connect small businesses to<br />
Financial Institutions (FIs)/individual investors. Businesses can raise money by pledging their<br />
invoices/receivables. As of November 2015, the company is in stealth mode.<br />
Invoice<br />
Discounting<br />
WorkCapital [Sao Paulo, 2015]: WorkCapital provides immediate working capital relief for underserved and<br />
overcharged small and medium businesses across the globe. Through real-time mobile reverse factoring, a<br />
patent pending and groundbreaking invoice payment system, the company discounts invoices generated by<br />
suppliers.<br />
Invoice<br />
Discounting<br />
Virtaus Finance [Reading, 2015]: Virtaus is a provider of smart financing, providing businesses of all sizes with<br />
online and immediate access to short-term working capital. Offer customers the ability to raise finance against<br />
their receivables allowing fast access to cash, without having to enter into lengthy contracts. The solution will be<br />
available initially in the UK in early 2016.<br />
Invoice<br />
Discounting -<br />
Direct Lender<br />
Fundbox [New York City, 2012]: Fundbox is a New York based company built by a group of technological and<br />
financial innovators. Provides short-term loans so businesses can keep up with expenses while they're waiting<br />
the 30, 60, or 90 days it typically takes for invoices to be paid. They charge a fixed fee for every invoice they<br />
clear, and customers who repay early are rewarded. They analyse the credibility of the business as well as the<br />
customer to calculate the fee. The solution, though similar to invoice discounting and factoring, doesn't involve<br />
buying of invoices or using them as collateral. Fundbox also plugs into the existing accounting software a small<br />
business is using and analyzes a variety of data points to build a risk profile for each invoice. Shlomo Kramer<br />
participated in the Series B round.<br />
$107.5M<br />
Khosla Ventures, SV Angel,<br />
LionBird, General Catalyst<br />
Partners, Nyca Partners, Blumberg<br />
Capital, Spark Capital, Bezos<br />
Expeditions, Entree Capital<br />
150<br />
Alternative Lending Report, December 2015
Alternate Financing (2/8)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Invoice<br />
Discounting -<br />
Direct Lender<br />
ApexPeak [Singapore, 2013]: ApexPeak is an invoice discounting firm providing capital to small and medium<br />
size enterprises. It offers two products: Invoice Pay and Purchase Pay. It provides Invoice Pay to customers who<br />
need immediate access to cash in lieu of accounts receivables. Apex Peak extends cash of up to 80% of the<br />
receivables' value and charges a fee of 3% of the credit line. It provides Purchase Pay to borrowers who want<br />
credit to pay for certain purchases and can payback over a time period of 3-4 months in addition to the fee for the<br />
credit. It seeks to invest in trade receivables/payables with targeted annualised returns of 8-15% (net) across<br />
multiple trade finance platforms (including its own), geographies and credit risk bands.<br />
$1.8M<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
FastPay [Beverly Hills, 2009]: FastPay provides liquidity and financial workflow solutions to the media industry.<br />
It offers a diverse set of products to entertainment industry such as FastPay for sellers (payment advances on<br />
receivables from the strongest advertisers, agencies, and ad tech businesses), ClearingHouse and FastPay for<br />
buyers (integrates directly with Buyers to offer accelerated payments to their vendor base). Since inception,<br />
FastPay has originated over $550M in loans to over 30,000+ businesses including publishers, networks,<br />
exchanges, DSPs, SSPs, agencies and app developers.<br />
NoviCap [Barcelona, 2014]: NoviCap is an online platform which allows Small and Medium Enterprises (SMEs)<br />
to turn outstanding invoices into working capital through an online auction. It is an alumni company of the<br />
Barclays Techstars Accelerator. After the NoviCap team has verified the invoice, it is offered for sale to a pool of<br />
professional investors. Client pays the invoice directly to NoviCap. The investors on the platform include HNIs,<br />
family offices, corporates, asset managers and hedge funds. Novicap charges 20% of the return the investors<br />
earn.<br />
P2Binvestor [Denver, 2012]: P2Binvestor is a crowdlending platform that provides crowdfunded, receivablessecured<br />
working capital loans to growing small and medium-size businesses. It has created a platform that allows<br />
investors to buy into a portfolio of business receivables and earn returns. It gives investors the ability to examine<br />
underwriting information about clients and choose which receivables portfolio to buy into. Investors own a<br />
percentage of every invoice in a portfolio and earn their returns in cash every month. Investors can liquidate part<br />
or all of their portfolios without fees with 60 days notice.<br />
Timelio [Melbourne, 2014]: Timelio is an online platform that provides invoice based financing to businesses in<br />
Australia. It finances invoices starting from A$10,000 for a time period of 30-120 days. Only accredited and<br />
institutional investors are allowed to invest on the platform with a minimum investment amount of $25,000.<br />
$16.5M<br />
$1.7M<br />
$1.4M<br />
$0.5M<br />
Oak HC/FT Partners<br />
Barclays Accelerator, Partech<br />
Ventures, Techstars<br />
Rockies Venture Club<br />
151<br />
Alternative Lending Report, December 2015
Alternate Financing (3/8)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
SGRecX [Singapore, 2014]: The Singapore Receivables Exchange (SGRecX) offers a platform for the sale and<br />
purchase of accounts receivables for SMEs. The platform connects qualified institutional investors with public or<br />
privately-rated corporations. Corporations benefit in the form of more flexible liquidity management options,<br />
mitigated credit risk and enhanced balance sheet management. Investors benefit with higher risk-adjusted shortterm<br />
yields over traditional money market investments.<br />
$100k<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
Mandii [Bangalore, 2015]: Online marketplace for SME lending connecting enterprises looking for financing and<br />
investors looking to earn higher short-term yields with lesser risk. Borrowers can sign up, upload payment<br />
pending invoices or post date instruments of their customers, select from among the best bids available and<br />
receive funds. Investors can view invoices/PDIs from companies along with credit profiles to post their bids<br />
against them. Post the tenure, investors can get the funds directly to their account. The company receives a<br />
brokerage fee from both the parties once the trade is settled. Service of Minions Ventures Pvt Ltd.<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
Get Fiscal [Bangalore, 2015]: Get Fiscal is an online platform for businesses to receive an advance on their<br />
invoices. It aims to eliminate the time gap between when the invoice is generated and when the clients gets paid.<br />
It is allows users to add and upload their invoices and thereby complete their application. After which the clients<br />
can choose which invoices they want to get funded.<br />
FundThrough [Toronto, 2014]: FundThrough is a marketplace lender for small business loans. They work with<br />
businesses that sell to established, credit worthy companies. They give small business owners better access to<br />
working capital by allowing them to leverage the credit strength of their customers. The businesses upload the<br />
invoices that they want funded and once approved they receive access to 80-90% of the invoice as a line of<br />
credit.<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
InvoiceInterchange [Singapore, 2015]: Based in Singapore, InvoiceInterchange is a P2P invoice trading<br />
marketplace that helps SMEs resolve cash flow challenges by auctioning outstanding invoices to investors to<br />
raise working capital. The SMEs that qualify for this funding should be at least an year old, engaged in a B2B<br />
business and a turnover of at least SG $500K.<br />
152<br />
Alternative Lending Report, December 2015
Alternate Financing (4/8)<br />
Company Details Funding Investors<br />
InvoiceDiscounti<br />
ng - B2C<br />
Marketplace<br />
Pro Quidity [Amsterdam, 2014]: Pro Quidity aims to give small and medium-sized enterprises (SMEs) control<br />
over liquidity. Based on the strategic cooperation between large corporates and Pro Quidity, SMEs can convert<br />
their invoices into cash at any point they choose, at a marginal rate. Direct payment is guaranteed by the Pro<br />
Quidity Fund in which a range of banks participate.<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Invoice<br />
Discounting -<br />
P2P Marketplace<br />
Advanon [Zurich, 2015]: Advanon is an online platform where SMBs looking for short-term financing can sell<br />
their invoices to financial investors. The company allows both institutional and private investors to invest on the<br />
platform and has risk based classes with corresponding discount rates. The invoices have a repayment term of<br />
30-180 days and are sold with recourse.<br />
Factoring<br />
BlueVine [Palo Alto, 2013]: BlueVine is an online provider of factoring to small businesses. It provides up to<br />
85% of the invoice value, between $5,000 and $100,000. Once the user uploads the invoices on the platform,<br />
BlueVine transfers the money after checks on the invoices and on due date the invoices are transferred to the<br />
company's BlueVine account rather than its own account. It also provides due date based rebates to the<br />
merchants. BlueVine charges a 1% origination per week for a maximum of 3 weeks and also provides custom<br />
rates for businesses invocing over $30,000 per month.<br />
$24M<br />
83NorthVC, Correlation Ventures,<br />
Kima Ventures, Kreos Capital,<br />
Lightspeed Venture Partners,<br />
Silicon Valley Bank<br />
Factoring<br />
Quickpay Funding [San Diego, 2015]: Quickpay Funding is a Factoring company that helps businesses with<br />
faster payment for open Accounts Receivable and unpaid invoices. Their funding programs offer flexible and<br />
competitive rates, including quickpays, fuel advances, and other programs to help fund the business. Their free<br />
credit checking service allows customers to monitor the risks of non-payment of invoices for work completed.<br />
KCMX Capital [Mexico City, 2013]: KCMX Capital offers factoring services. Their line of factoring is focused on<br />
small and medium-sized industrial, commercial and service sectors, the purpose of the loan is its liquidity through<br />
factoring.<br />
Factoring<br />
153<br />
Alternative Lending Report, December 2015
Alternate Financing (5/8)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Factoring<br />
Platform Black [Hampshire, 2011]: Platform Black provides an online marketplace platform for invoice trading<br />
for invoices of up to 90 days.. The invoice seller puts up the details of the invoice on the platform for auctioning.<br />
The buyers are then notified of the new auction and are invited to bid on the invoices. Money is transferred to the<br />
seller's account a day after the bidding is closed. Platform Black charges 1%+VAT as fee for the auction (floor of<br />
£100). Apart from this, Platform Black also offers supply chain financing to a business' suppliers.<br />
Factoring<br />
Factoring<br />
CBAC Funding [Manchester, 2012]: CBAC in an online marketplace for invoice factoring. It enables businesses<br />
to link their accounting platforms to the website and upload the invoices that the company wants to sell. It the<br />
receives bid/quotes from financiers willing to buy the invoice at a discounted rate and selects the preferred<br />
bidder. CBAC has customers from diverse industries such as banking, oil & gas, medical, construction and<br />
transportation.<br />
InvoiceBid [Melbourne, 2014]: Invoice Bid is an online factoring marketplace that allows businesses to sell their<br />
invoices to investors. The invoices should be of at least A$10,000 and have maturity in 120 days of uploading.<br />
Investors bid on the invoices and have option of partial bidding as well as full bidding on the invoice value. Once<br />
the invoice is paid, investors are distributed the money on a pro-rated basis. Borrowers are charged a certain fee<br />
on the invoice and investors are charged 15% + GST on the profit made. It only allows certain investors to bid on<br />
the platform such as Institutional investors, sophisticated investors and High Net Worth Individuals.<br />
Factoring -<br />
Direct Lender<br />
SMRT Finance [Amsterdam, 2015]: SmrtFinance is a factoring service is Netherlands. The platform runs<br />
entirely in cloud. All invoices and contracts are available round the clock. Offers services if debtor is based in<br />
Netherlands, min amount per invoice is EUR 1000 and debtor is insured with a credit insurer. SmartFinance is a<br />
part of smart services.<br />
Factoring -<br />
Direct Lender<br />
INVOICE CYCLE [London, 2015]: Invoice Cycle offers businesses instant finance, by advancing payments for<br />
their outstanding invoices. Their online platform allows businesses to sell their outstanding invoices instantly,<br />
rather than waiting 30-90 days for payment from their customer. They offer invoiced backed loans as well as<br />
factoring solutions.<br />
154<br />
Alternative Lending Report, December 2015
Alternate Financing (6/8)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Factoring -<br />
Direct Lender<br />
European Credit Partners [Rotterdam, 2015]: EuroCPS is an online platform that provides invoice based<br />
financing to borrowers. The company provides services in the field of Factoring, Corporate Finance Rings,<br />
Finance Rings Real Estate, Financial Management of Real Estate Portfolios and Legal Services.<br />
Factoring -<br />
Direct Lender<br />
Rechnung48 [Dresden, 1998]: Rechnung48 is an online service of the Elbe-Factoring GmbH, which is bankindependent<br />
financing partner for SMEs. It finances the bills in less than 48 hours and charges a service fee of<br />
3.97% plus VAT. It assumes 100 percent of the default risk.<br />
Factoring -<br />
Direct Lender<br />
Factoring - B2C<br />
Marketplace<br />
Factoring - B2C<br />
Marketplace<br />
AR Funding [Greenville, ]: AR Funding provides invoice factoring services to businesses. It advances up to<br />
90% of the invoice value with a 2% fee for a 30 day period. The client has to forward the cheque/online<br />
repayment to AR Funding's account.<br />
C2FO [Fairway, 2008]: A B2B money transfer platform . Collaborative exchange for working capital. Participants<br />
are buyers and suppliers who use the live bid/ask market to increase profit, and accelerate cash flow between<br />
themselves. C2FO (Collaborative Cash Flow Optimization) acts as a matchmaker, pairing buyers with multiple<br />
suppliers, giving the buyers the desired average discount, and allocating working capital to the suppliers at lessthan-bank<br />
rates. The company was earlier known as Pollenware.<br />
The Receivables Exchange [New Orleans, 2007]: The Receivables Exchange is a marketplace for financing<br />
commercial receivables that helps businesses increase liquidity and drive down their cost of capital. Businesses<br />
post outstanding invoices on the Exchange, where a pool of institutional investors (including banks, hedge funds,<br />
asset-based lenders, and family offices) compete in real time through an auction-process to purchase them.<br />
Receivables posted on the exchange have a term of 15-360 days and and offer wide ranges of credit risk / yields.<br />
NYSE Euronext and RecX partnered in September 2011 to jointly market RecX to both private and publicly-held<br />
companies.<br />
$97.7M<br />
$50M<br />
VFormation, Iron Mountain,<br />
Summerhill Venture Partners,<br />
Union Square Ventures, OPENAIR<br />
Equity Partners, MIthril Capital<br />
Management LLC, Temasek, Tiger<br />
Global<br />
Fidelity Ventures, Prism Venture<br />
Management, Redpoint Ventures,<br />
Bain Capital Ventures, Bain<br />
Capital, S. Beermann, StarVest<br />
Partners<br />
155<br />
Alternative Lending Report, December 2015
Alternate Financing (7/8)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Factoring - B2C<br />
Marketplace<br />
MarketInvoice [London, 2011]: Marketinvoice provides online platform to enable SMBs gain access to working<br />
capital requirements using invoice financing. The company allows accredited investors including corporate and<br />
local pension funds,asset managers, hedge funds, family offices and high net worth individuals to invest in the<br />
businesses. It an charges an origination a fee of 1.5% to 3% of the invoice value and requires a business to have<br />
at least 6 months of trading history and GBP 100,000 in annual revenues. It has so far helped raise GBP 300M of<br />
financing for SMBs and counts Northzone and Paul Foster amongst its investors.<br />
$28M Northzone, BritishBusinessBank<br />
Factoring - B2C<br />
Marketplace<br />
Funding Gates [New York City, 2009]: Manage Accounts Receivable and Collections and start getting paid<br />
faster today.<br />
$0.6M<br />
Factoring - B2C<br />
Marketplace<br />
Kickpay [San Francisco, 2014]: Kickpay is an marketplace for buyers and sellers of sales invoices. Buyers get<br />
a chance to invest in a new asset class, and sellers get the much needed financing for their supply chain. The<br />
platform works on an auction model where buyers bid for the invoice that are listed by the sellers. As of June,<br />
2015, the platform is still in BETA mode.<br />
$0.1M<br />
Y Combinator<br />
Factoring - B2C<br />
Marketplace<br />
Pagido [Berlin, 2013]: Pagido provides bill generation and factoring services for freelancers in Germany. Its<br />
services include payout of 80% of each bill immediately after validation, complete insurance for freelancers,<br />
formally perfect invoices for the freelancer’s clients and automated mediation service. It charges a flat rate of 5%<br />
of sales from freelancers and 3%-5% from companies.<br />
$100k<br />
Factoring - B2C<br />
Marketplace<br />
Invoice Market [Moscow, 2014]: Invoice Market is a Russia based platform for factoring. Entrepreneurs are able<br />
to sell accounts receivable at most favorable rates. It connects sellers with investors: banks, factoring companies<br />
and other organizations willing to finance overheads. It is an auction based factoring where investors offer<br />
sellers the best price conditions.<br />
156<br />
Alternative Lending Report, December 2015
Alternate Financing (8/8)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Factoring - B2C<br />
Marketplace<br />
Tesorio [Philadelphia, 2013]: Tesorio is a cloud-based marketplace for invoice factoring. It enables buyers to<br />
provide an option of early payments to vendors and then repay Tesorio. Vendor's can also directly approach<br />
Tesorio to sell their invoices on the platform.<br />
Factoring - B2C<br />
Marketplace<br />
Aztec Money [Dublin, 2012]: Aztec Money provides an online invoice trading platform for export trade<br />
receivables and invoices. Once a company uploads the invoice on the platform, Aztec Money lists the invoice on<br />
the marketplace for auction for investors to bid on. Aztec Money allows the company to set the discount and<br />
advance on the invoice.<br />
Factoring - P2P<br />
Marketplace<br />
Dynamic<br />
Discounting<br />
Dynamic<br />
Discounting<br />
Decimo GmbH [Berlin, 2014]: Decimo offers factoring services to freelancers as well as small companies in<br />
Germany. Decimo focusses on efficient, fast and automated processes through the internet. Investors can<br />
participate in its business model through the crowd financing campaign with an interest rate of 6% on the<br />
crowdinvesting platform FunderNation.<br />
Tradeshift [San Francisco, 2009]: Tradeshift is a cloud based software solution that enables business<br />
collaboration by leveraging its big supplier database. It facilitates supply chain management through supplier<br />
onboarding, e-Invoicing, early payment solution through dynamic discounting, supplier financing solutions,<br />
approval workflow and other business apps. Tradeshift connects 500000 companies over 190 countries. It<br />
increased it revenue by 300% over 2013. At the Techcrunch Europa Awards, Tradeshift was awarded "the best<br />
enterprise" award.<br />
Taulia [San Francisco, 2009]: Taulia aims to reduce cash flow problems faced by small and medium sized<br />
business. Big corporate clients leverage their position and ask their suppliers to adopt Taulia. When they do so,<br />
Taulia provides web based invoice to large corporate companies and to chose an early pay option to their<br />
suppliers. Thus reducing the 2-3 months pay cycle to just a day or so. Taulia charges suppliers 10% annualized<br />
fee for accelerated pay and split this revenue with the big corporate companies. Clients include a total of 75 large<br />
enterprises and over 460,000 suppliers.<br />
$129M<br />
$90.7M<br />
Notion Capital, ru-Net Holdings,<br />
Kite Ventures<br />
Lakestar, DAG Ventures, Trinity<br />
Ventures, Matrix Partners, TELUS,<br />
QuestMark Partners, BBVA<br />
Ventures, EDB Investments, Zouk<br />
Capital<br />
157<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (1/43)<br />
Company Details Funding Investors<br />
Credit Scoring<br />
Instantor [Stockholm, 2010]: Instantor is an international Credit Scoring and Online Identification company that<br />
makes use of existing financial infrastructure to identify and credit score consumers. They assess<br />
creditworthiness by analyzing the transactional history from the individuals internet bank. This allows them to<br />
ensure that the individual has a steady income and that he pays his bills regularly. They then send a<br />
recommendation to the merchant who makes the final decision about approval.<br />
Credit Scoring<br />
CreditCheck.nl [Apeldoorn, 2015]: CreditCheck.nl is a provider of credit information and data management<br />
services. The information provided to consumers, managers and companies is extracted from the Creditcheck.nl<br />
Databank.<br />
Credit Scoring<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Funding Metrics [Langhorne, 2013]: Funding Metrics provides a suite of real-time business credit and debt<br />
monitoring, and data verifying service to lenders investing in the short term and non-prime market. It offers 1.<br />
Risk management using historical loan repayment; 2. Analytics to recognize trends in the small business loan<br />
industry and forward-looking evaluations of delinquencies or associations of businesses to its companions within<br />
the industry; 3. Automated underwriting services.<br />
Credit Karma [San Francisco, 2007]: Credit Karma offers a web-based credit and financial management<br />
service that provides credit tools with Credit Report Cards, which summarizes a consumer’s credit report into<br />
components graded with an A-F letter grade. Credit Score Simulator, which simulates the effect of certain<br />
financial actions on credit scores and credit monitoring, sends an email alert when something important changes<br />
in a consumer’s TransUnion credit report. It also offers financial account monitoring through account aggregator<br />
service Yodlee which allows consumers to track their bank, credit card, savings and loan transactions and<br />
balances in Credit Karma’s interface. Their revenue model includes paid advertisement of relevant financial<br />
products to its consumers.<br />
Zest Finance [Los Angeles, 2009]: ZestFinance uses big data technology to dramatically improve underwriting<br />
quality for lenders..<br />
$368M<br />
$112M<br />
QED Investors, SV Angel, Ribbit<br />
Capital, Susquehanna Growth<br />
Equity, Felicis Ventures, Google<br />
Capital, Tiger Global, Viking Global<br />
Investors<br />
Lightspeed Venture Partners,<br />
Matrix Partners, Fortress<br />
Investment Group, Eastward<br />
Capital Partners, Kensington<br />
Capital, Northgate Capital<br />
158<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (2/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Credit Sesame [Mountain View, 2010]: Credit Sesame is a personal finance management tool for analyzing a<br />
person’s current debt situation and then make recommendations as to how they can make improvements. Offers<br />
complete picture of their credit, including their credit score, loans and peer comparison on the web and via a<br />
Mobile app. Proactively monitors market to deliver just in time alerts and product recommendations. Earns<br />
revenue by charging fee from banks after a user closes a loan. Has raised $35.4Min funding in 4 rounds.<br />
Mint [Mountain View, 2006]: Mint.com is an online personal finance service company. Its patent-pending<br />
technology categorizes all transactions, showing users how much they spend on various events, their bank credit<br />
card and investment account balances, the amount of interest they’re earning/paying, etc. It automatically<br />
calculates budgets by spending category and shows cash flow each month. Uses the same online banking<br />
services providers and physical and encryption security practices as top US banks and is certified by VeriSign<br />
and Truste. It also provides free credit score.<br />
$35.4M<br />
$31.8M<br />
Menlo Ventures, Inventus Capital<br />
Partners, Grail Partners, Plug &<br />
Play Ventures, Globespan Capital<br />
Partners, Syncora Holdings Ltd.,<br />
INTER ATLANTIC L.P.<br />
DAG Ventures, Founders Fund,<br />
Benchmark, Shasta Ventures, First<br />
Round Capital, Sherpalo Ventures,<br />
Felicis Ventures, SV Angel<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
L2C [Atlanta, 2000]: L2C is a provider of advanced consumer scoring and analytics solutions. L2C leverages<br />
alternative payment and asset data to create new predictive credit, collection and marketing scores for over 260<br />
million Americans. L2C’s clients include leading institutions in the financial service, retail, healthcare, automotive,<br />
telecommunication, and media and entertainment industries.<br />
RevolutionCredit [Irvine, 2012]: RevolutionCredit’s engagement platform and database of consumer behavioral<br />
economic data transforms the credit decisioning process for both lenders and consumers. Its a proprietary<br />
behavioral analytics platform that identifies upwardly mobile credit consumers – consumers who perform 1-2<br />
times better than their current credit score – by deriving predictive performance signals directly from users at the<br />
point of transaction. it is a full turnkey solution that supports all credit life-cycle management strategies: Lenders<br />
invite their eligible customers / prospects to get certified within the RevolutionCredit online program and offer a<br />
reward for successful completion.<br />
Aire [London, 2014]: Aire is a London-based company which provides credit scoring of individuals via machinelearning<br />
algorithms. It allows users to enter their information in the application and generates a credit score for<br />
them, especially users with no prior credit history. It also provides APIs to lenders, to be integrated in their<br />
systems, to provide credit scores of the applicants applying for the loans on their platform. The API was built to<br />
provide real time response.It has been counted amongst the 10 hottest Fin-Tech startups in London and in Top<br />
15 Financial startups in Europe.<br />
$4M QED Investors, Core VC<br />
$2.7M<br />
$1.4M<br />
SparkLabs Global Ventures,<br />
Barclays Accelerator<br />
159<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (3/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Individuals<br />
Udhaar [Pune, 2015]: Udhaar leverages Aadhaar to provide alternate credit scoring mechanisms for<br />
underserved individuals. Currently validating business model that involves microlending, credit score of<br />
low/medium income groups in India for Financial Institutions. Credit score based on a myriad of data sources.<br />
Also developing a marketing platform for FMCG companies and designing easy to use point-of-sale systems,<br />
including authentication via biometric methods. Was among the top 20 startups in Innovate for Digital India<br />
Challenge 2015.<br />
Credit Scoring -<br />
Individuals<br />
Destacame.cl [Santiago, 2014]: Destácame helps people to use their utility bills like electricity, water and<br />
telephone in order to demonstrate to banks and large stores that they are responsible and worthy of good credit<br />
conditions.<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Clear Score [London, 2014]: ClearScore provides free credit score and reports of individuals in the UK. As<br />
opposed to other credit rating agencies which charge for the credit reports after trial, ClearScore claims to<br />
provide lifetime free access to credit score and reports to the consumer. The credit score and reports are<br />
extracted from Equifax. The company generates revenue from commission it gets after a consumer buys a<br />
financial product suggested by ClearScore offered by a partner.<br />
Credit Angel [Macclesfield, 2014]: Credit Angel provides credit scores and reports to UK based individuals to<br />
help them understand and improve their credit score. It offers credit report and score, social report and score,<br />
credit and social alerts, savings and vouchers and tailored financial deals. The credit reports are provided by<br />
CallCredit.<br />
VantageScore [Stamford, 2006]: VantageScore Solutions is committed to providing greater score accuracy and<br />
consistency so that lenders and consumers alike can make credit decisions with a higher level of confidence. Its<br />
predictive model uses an innovative, patent-pending scoring methodology to provide lenders with a consistent<br />
interpretation of consumer credit files across all three major credit reporting companies and the ability to score a<br />
broad population. The VantageScore model and VantageScore credit scores are marketed and sold<br />
independently by Equifax, Experian and TransUnion through licensing agreements with VantageScore Solutions.<br />
160<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (4/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Union Financial Tech [Tallinn, 2012]: Union Financial Technologies provides real-time scoring of clients to<br />
support the account opening, loan origination and annual review processes. It offers Digital Core, Credit Scoring<br />
and Client Engagement solutions to international Retail banks, Credit Unions and start-up Consumer Credit firms.<br />
Union.score access multiple internal and external data sources such as credit history, state registries, etc<br />
simultaneously in real-time. At present they are active in the Baltic, Nordic, UK, Irish markets.<br />
Scorelogix [Newark, 2003]: Scorelogix is a predictive analytics company and its scores and data help<br />
businesses make better decisions. Scorelogix’s patented Ability To Pay risk score (ATP score) is the score that<br />
predicts consumer’s ability to pay and credit risk using the primary drivers of payment capacity i.e. income<br />
adequacy, income stability, and economic conditions. Scorelogix is a pioneer in job risk scoring, a leader in<br />
economic forecasting, and the inventor of Job Security Score and many proprietary economic indexes.<br />
Black Book Credit Score [Boca Raton, 2011]: Black Book Online works in the online vehicle trade-in valuation<br />
industry. In 2011, it launched Credit Activator product which gives consumers an estimated credit score range<br />
without asking them to divulge sensitive information such as their social security number or date of birth. In<br />
addition it offers free used car Black Book Trade-In Appraisal service which is carried on most major automotive<br />
manufacturer sites as well as thousands of car dealership sites. Black Book products are published by National<br />
Auto Research, a division of Hearst Business Media.<br />
FactorTrust [Atlanta, 2006]: FactorTrust provides underbanked consumer data, analytics and risk scoring<br />
solutions to a variety of lenders. The Atlanta-based company utilizes an internal team of predictive analytics<br />
experts and statisticians combined with a deep, proprietary database of underbanked consumer loan<br />
performance and best-in-class third-party data sources. As a result, providers of short-term or installment loans,<br />
credit and pre-paid cards, automotive loans, retailers, wireless services and collection agencies have an<br />
unparalleled view of the underbanked community. UK and Canada in one of the largest and fastest growing<br />
consumer segments, the underbanked.<br />
CreditVidya [Mumbai, 2012]: CreditVidya offers an online platform to provide users with knowledge &<br />
information about credit scoring, measure their financial health and best ways to preserve savings. Offers<br />
ScoreBuilder which helps to build detailed plan to build up user's credit score with personalized guidance and<br />
advice from experts. CreditPlanner product helps users to assess their credit score based on a grading system,<br />
calculating and assessing credit health by analyzing personal finance ratios, finding appropriate loans. Claims to<br />
be well-funded.<br />
161<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (5/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Individuals<br />
FreeScoreIndia [Mumbai, 2013]: FreeScoreIndia provides credit score estimates to individuals for free. It is a a<br />
solutions of Credit Sudhaar and it aims to help make individuals credit healthy by restoring, enhancing and<br />
protecting their credit. The benefit is aimed to extend to personalized product recommendations for improvement<br />
of credit health.<br />
Credit Scoring -<br />
Individuals<br />
GetCreditScore [Sydney, ]: GetCredit Score is an initiative of SoceityOne and Veda, the leading credit score<br />
provider in Australia. It offer Veda Score, the credit score of consumers prepared by Veda, and credit report to<br />
users. The data is used by SoceityOne and Veda to market their products to consumer.<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Karza [Mumbai, 2015]: Karza is a cloud based solution and has two products, Score and Watch. Karza Score is<br />
an credit assessment mechanism fueled by borrower information gathered from multiple databases, both within<br />
and outside the financial institution. Karza Watch aims to keep a close watch on loan portfolios of financial<br />
institutions to identify any red flags, indicating any unexpected behavior by their borrowers.<br />
Pariti [London, 2014]: Pariti provides tools, guidance and access to low cost loans to help users out of highinterest<br />
debt and towards a improved financial future. The app enables users to track all of their debt and help<br />
them create a timeline for eventual payoff off debt faster. Along with personal finance management functionality<br />
the app also provides a credit score to the user, called pariti score, which enables users to avail preferential loan<br />
alternatives. As of September, 2015, the app is in alpha phase.<br />
First Access [New York City, 2011]: First Access sells an instant, SMS-based recommended loan size, which<br />
serves as a proxy for a credit score in informal markets where there is no other alternative. It combines<br />
demographic, geographic, financial and social data from mobile phones and other sources to provide decisions<br />
on loan requests.Current and potential clients include microfinance institutions, commercial banks, agricultural<br />
input suppliers, housing improvement lenders, biofuel equipment lenders, solar lamp/distributed energy asset<br />
lenders, and sanitation equipment-related lenders. It earns a margin from buying raw data on demand from<br />
mobile network operators for $0.19-0.32 per query and selling derived information to financial service providers<br />
for $0.75-$1.25.<br />
162<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (6/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Credit Scoring -<br />
Individuals<br />
Credit.com [San Francisco, 1995]: Credit.com provides free credit score and report to users. It has partnered<br />
with Experian to pull the user's data and provides free credit score every month to users along with the statistics<br />
pertaining to the credit score and financial advice to maintain a healthy score for the user. In the credit report it<br />
mentions key areas of a user including payment history, debt usage, credit age, account mix and inquiries. With<br />
periodic updates and monitoring it also enables users to keep a tab on their credit health and take corrective<br />
measures is necessary.<br />
Quizzle [Detroit, 2008]: Quizzle is an online provider of credit score and report to individuals. It provides free<br />
Equifax credit report and Vantagescore Credit score to individuals every three months which include mortgages,<br />
student loans, credit cards, medical loans, auto loans and other details including account details, payment history<br />
and contact information of loans that do not fit any general category. It also offer credit builder tools, credit<br />
comparison, credit timeline of the consumer, credit trending and score analysis. It also extends financial advice<br />
on home loans and refinancing, mortgage loans, personal loans, auto loans and credit cards.<br />
underwrite.io [Boston, 2015]: Underwrite.io utilizes a biology-based, machine learning approach to credit<br />
modelling. It combines the results of a consumer inquiry from conventional bureaus, like FactorTrust or MicroBilt,<br />
with multiple other attributes and uses its proprietary MetaScore to generate an accurate credit score of a person.<br />
It primarily uses name, address, SSN and email to predict the loan default chances. The response on the loan<br />
query is usually generated in under 5 seconds. The lender enters a set of inputs via the provided APIs to obtain a<br />
decision as well as a credit tier or interest rate on the loan query.<br />
Credit Scoring -<br />
Individuals -<br />
Quiz Based<br />
Scoring<br />
Credit Scoring -<br />
Individuals -<br />
Social Network<br />
Based Credit<br />
Rating<br />
VisualDNA [London, 2006]: VisualDNA is an audience insights company with patented technology that makes it<br />
possible for businesses to understand people online. It has developed a method of understanding, driven by the<br />
science of converting data from personality quizzes into rich, accurate and scalable audience profiles. In the<br />
credit and risk sector VisualDNA's product allows a lender to assess any potential customer, with or without a<br />
credit history, allowing them to reach a larger market, and score that market more accurately<br />
Lenddo [Makati, 2011]: Lenddo is a provider of social network based credit scoring for individuals. Users link<br />
their social networking accounts to their Lenndo account and complete their profiles to generate the<br />
LenddoSqwcore. This score can be used on websites providing financial products to consumers for financing or<br />
to get a better interest rate.<br />
$28.6M<br />
$14M<br />
Northzone, Atomico, Horizons<br />
Ventures<br />
Accel Partners, Blumberg Capital,<br />
Omidyar Network, iNovia Capital,<br />
Metamorphic Ventures, Kickstart<br />
Ventures, Golden Gate Ventures,<br />
Lumia Capital, Life.SREDA<br />
163<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (7/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Individuals -<br />
Social Network<br />
Based Credit<br />
Rating<br />
Credit Scoring -<br />
Individuals -<br />
Social Network<br />
Based Credit<br />
Rating<br />
Friendly Score [London, 2013]: Friendly Score is a SaaS B2B company that provides social media based credit<br />
scoring for people. It scans a person's Facebook profile to uses semantic analysis to gather data points like<br />
education, employment residential history, social network strength, behavioural, communication and lifestyle<br />
patterns. Its provides APIs which can be integrated in a lender's system and augment the credit score that has<br />
been generated by using other scoring methods and can be customized as per the website's URL.<br />
Trustami [Berlin, 2015]: Trustami aggregates a user’s distributed social media information and ratings from<br />
different channels such as ebay, airbnb and facebook and verifies the information for a use of the Trustami<br />
Widget – a digital Trust-ID. It provides the user a platform-independent online reputation that can be used to build<br />
trust in any kind of online interaction (e.g. P2P-ecommerce, house-sharing). The underlying Trustami algorithm<br />
aggregates and verifies the comprehensive and complex social media data in order to evaluate the<br />
trustworthiness.<br />
$0.4M<br />
$0.1M<br />
Startupbootcamp, Mercia Fund<br />
Management<br />
Credit Scoring -<br />
Individuals -<br />
Social Network<br />
Based Credit<br />
Rating<br />
Credit Scoring -<br />
Individuals -<br />
Social Network<br />
Based Credit<br />
Rating<br />
Credit Scoring -<br />
Individuals -<br />
Social Network<br />
Based Credit<br />
Rating<br />
Credible [Tel Aviv, 2015]: Credible provides loans backed by predictive analytic algorithm that price the risk of<br />
borrower. Their predictions are based on financial data and social profiling. They use machine learning and<br />
scientific statistical models to predict borrower’s creditworthiness. Based on their prediction they charge fees and<br />
interest on loans.<br />
Neo [Palo Alto, 2011]: Neo Finance Inc. offers credit scores to consumers based on their actual income and<br />
social data. The company is backed by Social+Capital Partnership, a Bay Area venture firm. The company does<br />
review a user's credit report for red flags but doesn't use the FICO score in its risk calculation. Instead, the<br />
company spends more time parsing through a person's LinkedIn profile to determine how long users have held<br />
jobs, the number and quality of connections in their industry and geography and the seniority of their<br />
connections.<br />
Big Data Scoring [Tallinn, 2013]: Big Data Scoring is a European credit scoring company that develops generic<br />
and tailored credit score models based on BIG DATA and social networks. Their big data credit score model for<br />
consumer credit, uses information from the Facebook social network and other sources. Big Data Scoring offers<br />
a proven, generic social media scorecard as a service to creditors around Europe.They work with lenders of any<br />
kind – banks and non-bank lenders, payday and P2P lenders, microfinance providers and leasing companies.<br />
164<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (8/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Individuals -<br />
Social Network<br />
Based Credit<br />
Rating<br />
Troo.ly [Palo Alto, 2013]: Trooly is a stealth mode startup working to develop credit scoring model for online<br />
lending platforms.<br />
Credit Scoring -<br />
Individuals -<br />
Social Network<br />
Based Credit<br />
Rating<br />
Credit Scoring -<br />
Businesses<br />
Credit Scoring -<br />
Businesses<br />
Credit Scoring -<br />
Businesses<br />
TrustingSocial [New York City, 2013]: Trusting Social provides consumer credit score based on social, web<br />
and mobile data. It provides three major scores on an applicant: 1.Authenticity: Measures how likely an online<br />
identity is real and trustworthy.; 2.Network quality: Measures the depth of the network, based on interactions with<br />
other people and their background.; 3.Financial Credibility: Estimates a person's income percentile based on her<br />
work history and education. Their solution enables lenders in emerging markets to lend to billions of “financially<br />
invisible” consumers who are not covered by credit bureaus. The platform modules can be tailored for social<br />
marketing, sale lead scoring, personalized offerings, and credit risk.<br />
InVenture Capital Corp. [Los Angeles, 2012]: InVenture is a mobile technology company providing simple<br />
credit scoring and accounting tools for emerging markets. Collects business owners data through SMS and<br />
builds a credit score which then lenders can refer to while providing the growth capital. Apart from financial help<br />
Inventure also offers financial literacy and vocational training to micro business owners.<br />
Nav (fka Creditera) [South Jordan, 2012]: Nav (fka Creditera) helps small business owners access the<br />
financing they need to grow and effectively manage their business. They do this giving business owners tools to<br />
take control over their credit profiles--offering both personal and business credit data and insights for free. With<br />
the goal of empowering business owners with better transparency into their credit lives, the site includes easy-toread<br />
personal and business credit reports, contextual advice and monitoring all in one spot. It also provides tools<br />
that help members build business credit and a marketplace that makes it easy for them to use credit to create the<br />
business of their dreams.<br />
Open Book Ben [Golden, 2013]: Open Book Ben is a business credit reporting agency. BEN has a business<br />
credit score for nearly every company in the United States. These scores are based on publicly available data, as<br />
well as data provided by their users. This approach allows business owners to have active and meaningful<br />
impact on their credit reputation and opens the door to additional features including better trade agreements, new<br />
customers, and more favorable capital opportunities.<br />
$11.2M<br />
$6.5M<br />
$3.5M<br />
Kima Ventures<br />
MESA+, Lowercase Capital,<br />
Google Ventures, Collaborative<br />
Fund, India Internet Fund<br />
Rock & Hammer Ventures,<br />
Kickstart Seed Fund, Kleiner<br />
Perkins Caufield & Byers<br />
165<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (9/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Businesses<br />
Credit Scoring -<br />
Businesses<br />
Credit Scoring -<br />
Businesses<br />
Credit Scoring -<br />
Businesses<br />
Credit Scoring -<br />
Credit Risk<br />
Monitoring<br />
SMBscorecard [New York, 2013]: SMBscorecard provides the information behind business credit scores to the<br />
26 million SMBs and 6,416 banks in the United States. SMBscorecard is a product and trademark of Corporate<br />
Legacy, Inc.<br />
PayNet [Illinois, 1999]: PayNet provides proprietary small business lending analytics and tools that help lenders<br />
to identify optimal portfolio growth opportunities; help mitigate portfolio risk by providing warning instead of<br />
detection; and accurately forecast default rates to balance risk and reward when pursuing new small business<br />
lending opportunities. PayNet tracks lending and default data on more than 22 million small business loans,<br />
providing unmatched forecasts and insights on industry sector growth, regional trends and default risk. PayNet<br />
MasterScore is developed from the largest pool of term debt leases and loans compiled to predict 90+ Days Past<br />
Due (DPD) on a 3 digit scale. The PayNet MasterScore contains a total of 149 variables with 50 unique variables.<br />
It operates in US and Canada.<br />
Entrepreneurial Finance Lab [EFL] [Lima, 2010]: The Entrepreneurial Finance Lab (EFL) is an innovative<br />
financial-technology company which employs psychometric and nontraditional applicant data to create credit<br />
scores to measure risk and potential among new and existing small businesses. EFL, a product of its early<br />
Harvard research, has been recognized by the G-20 as one of the most innovative approaches to SME finance<br />
globally, and is supported by numerous international organizations, both public (IFC, IADB, G-20) and private<br />
(over a dozen of the largest financial institutions across 26 countries in Africa, Latin America, South Asia, and<br />
Southeast Asia.) EFL identifies high potential entrepreneurs by measuring risk among micro and SME borrowers<br />
with insufficient credit history.<br />
Check Business [London, 2013]: Check Business is an online service that provides credit and risk rating of<br />
businesses in the UK in partnership with Equifax. It allows members to look up and monitor credit scores for any<br />
UK business, partnerships and sole traders. The reports and ratings can be accesses by searching for company<br />
name, registration number or VAT number.<br />
Argos Risk [Minneapolis, 2010]: Argos Risk provides online business-to-business credit risk management tools<br />
and technology for SMBs. Argos Risk Online is a credit risk management solution that helps businesses monitor<br />
the financial health of its customers, suppliers, and competitors with online dashboard tools. Argos Risk Defender<br />
provides tools, business intelligence and best practices that helps users to defend business and employees<br />
against cybercrime and business identity fraud.<br />
$1.8M<br />
166<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (10/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Credit Risk<br />
Monitoring<br />
SwissMetrics GmbH [Zurich, 2014]: SwissMetrics is a SaaS platform that provides users with tools and metrics<br />
to quickly monitor the financial health of their customers, suppliers or potential acquisitions. Their database is<br />
updated on a daily basis covering millions of companies globally. The users also have access to private data and<br />
real time news to take advantage of industry standard and proprietary algorithms.<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Cignifi [Cambridge, 2010]: Provides a big data platform to develop risk and marketing scores for emerging<br />
consumers using mobile phone data.Cignifi helps banks, retailers and insurance partners to identify qualified<br />
leads for credit cards, personal loans, insurance and savings among tens of millions of pre-pay customers. The<br />
Cignifi platform also drives new and intelligent marketing for mobile carriers, enabling them to increase spend<br />
and reduce churn.<br />
GDS Link [Dallas, 2006]: GDS Link is a global provider of customer-centric risk management and process<br />
automation technology that delivers customized solutions designed to meet the evolving risk management needs<br />
of companies in a broad spectrum of industries.Leveraging its process automation, credit bureau, fraud and<br />
decisioning solutions GDS builds out an entire risk management solution or integrating with existing legacy<br />
applications, solving specific business problems, large or small. Core services include customer management,<br />
analytical solutions, origination, fraud solutions and consulting services.<br />
Vivalte [Tallinn, 2003]: Vivalte is a business development and consultancy company focusing on financial<br />
technology.They focus especially on small enterprises and start-up's in Financial Technology. Their services and<br />
solutions include credit scoring, Web & e-commerce solutions development, process optimization services,<br />
mentoring, etc. Its credit scoring solution helps automate credit decisions and carry out customer background<br />
checks prior to credit issuance. The solution is used by banks and small credit issuers that need an efficient and<br />
speedy credit decision automation platform. UNION, a multi-sided platform for multiple banks, branches,<br />
currencies, countries, languages, user interfaces, etc is their flagship product for banks among other offerings.<br />
UNION is a product centric general ledger and accounting based banking solution featuring simultaneous<br />
handling of more than one financial application and database within one platform<br />
Predizo [Minsk, 2012]: Predizo is a Belarus based company providing various statistical models and has<br />
expertise in data cleansing, predictive modeling and predictive model integration. Its solutions can be used for<br />
different industries such as retail, telecom, insurance, advertising, banks, healthcare and security and defense.<br />
$7.1M<br />
Omidyar Network<br />
167<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (11/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Precise Prediction [Sandvika, 2010]: PrecisePrediction provides credit risk support for organizations to help<br />
manage the risk and profit in financial transactions. They work primarily on credit cards, unsecured, short term<br />
and payday loan portfolios. Their credit scoring solutions include application scoring and behavioural scoring.<br />
Creditinfo Solutions [Prague, 2006]: Creditinfo Solutions is a creator of credit risk software solutions, credit<br />
bureau systems, scorecards and anti fraud solutions. It offers decision making tools which includes scorecards,<br />
models, analytics, consulting services and software solutions to facilitate best practice decisioning in credit risk<br />
management.The company is a part of Creditinfo Group which offers its services in more than 15 countries<br />
around the world.<br />
Creative Business Decisions [Princeton, ]: Creative Business Decisions is a decision management solutions<br />
company. It has worked for American Express, Citibank, Mercedes Benz, Lacks Furniture and other companies<br />
around the world, to optimize returns on their credit portfolios through its custom built empirical and behavioral<br />
scoring models. Their software provides flexible Loan Origination system. Some of the scoring models offered by<br />
it include Empirical Credit Evaluation Models, Behavioral Authorization and Collections Models, Industry-Specific<br />
Generic Models, Non-Prime Auto Finance Scoring, Small Business and Commercial Scoring Models.<br />
Alphascore [Osijek, 2014]: Alpha score Ltd is a knowledge-based company that helps its customers in<br />
decision-making by providing services such as making scoring model, credit risk assessment, development of<br />
business intelligence applicationsand data mining. Alpha Score is included in the program of Croatian Innovative<br />
Technological Development, which is a special form of integration of scientific technology policies aimed at<br />
linking public scientific and research sector and the economy carried out by the Ministry of Science, Education<br />
and Sports to promote knowledge-based economy.<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Alliant Insight [New York City, 2002]: Alliant provides data analytics based solutions for marketers and<br />
financial institutions. Its solutions are used for campaign optimization, targeted mails and email list, digital<br />
audience targeting, real time scoring, house file management and consumer credit scoring.<br />
168<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (12/43)<br />
Company Details Funding Investors<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Andumus [Helsinki, ]: Andumus is a company specializing in predictive analytics and data science. It helps<br />
businesses to manage their operations with analysed consumer data. Its credit scoring model is produced by<br />
using historical data of past loans and applying advanced predictive algorithms to calculate the probabilities of<br />
default for each customer. Its solutions include credit scoring, churn management and targeted marketing.<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Plug&Score [Amsterdam, 2009]: Plug&Score is a business division of Scorto Corporation.<br />
Plug&Score provides a unique and innovative approach to credit scoring modeling. Its solutions' family<br />
consists of scorecard development software Plug&Score Modeler, credit scoring system, and loan<br />
origination system Plug&Score Loan Origination.<br />
Credit Scoring -<br />
Solutions for<br />
Credit Scoring<br />
Scorto [Cupertino, 2001]: Scorto provides decision automation platform for lending companies. Its solutions<br />
encompass application scoring, behavioral scoring, collection scoring and fraud scoring. Its lending solutions<br />
include loan origination software, portfolio management software, debt collection software, fraud detection<br />
software, commercial lending software, online lending software and early warning software. Its products include<br />
Loan Decision, Loan Manager, Behavia, Fraud Barrier and Ample Collection.<br />
Lending<br />
Softwares<br />
ISGN [Palm Bay, 1998]: ISGN provides end-to-end mortgage solutions for technology (servicing, default,<br />
construction, settlement and vendor management), origination (retail and third party origination), servicing and<br />
default (routine servicing, default servicing, compliance and quality control), valuation (valuation advantage<br />
desktop appraisal, alternate valuation services, traditional valuation services), settlement (title services, closing<br />
and escrow services), compliance (CFPB compliance and mock audit) and consulting. The company provides<br />
software solutions for loan servicing, vendor settlement, loan servicing. It also provides QA, QC, bankruptcy,<br />
loss, liquidation, payment processing, process optimization and other services. ISGN is ISO 27001 and ISO<br />
9001:2008 certified. Has more than 1000 customers and serves them from its 8 domestic centres. Acquisitions<br />
include Fiserv's loan fulfillment unit (2009), Dynatek (2007), Inuva (2007), etc.<br />
$55M<br />
New Enterprise Associates, Kalaari<br />
Capital<br />
169<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (13/43)<br />
Company Details Funding Investors<br />
Lending<br />
Softwares<br />
Lending<br />
Softwares<br />
Lending<br />
Softwares<br />
Optimal Blue [Plano, 2002]: Optimal Blue is a cloud-based provider of product eligibility and pricing services,<br />
secondary marketing, consumer direct and point of sale services, compliance services,and data and analytics<br />
services. Pricing and eligibility provide strategic pricing, distribution and workflow tools, including conditional and<br />
dynamic mark-ups and relock process automation and can be used by originators, LockDesk/Administrators and<br />
Configurators. Consumer Direct and point of sale services include online applications, rate alerts, quick search,<br />
auto quoting and rate tables and mobile technology. Optimal Blue Insight is a real-time market analysis service<br />
that provides benchmarking of retail pricing against local market peers. The secondary services can help with<br />
mortgage pipeline risk management, pipeline purification, execution and loan slotting. The compliance tool<br />
enables the lenders to ensure regulatory compliance.<br />
LoanLogics [Trevose, 2004]: LoanLogics provides enterprise loan quality and performance analytics platform<br />
that enables lenders, investors, servicers and counterparties to improve loan quality, validate compliance,<br />
improve profitability, and manage risk, during origination, sale and servicing of loan assets. Its product portfolio<br />
consists of Loan Decisions (a loan pricing software), Loan Quality Management Technology and Services<br />
(provides real-time loan quality reporting), Enterprise Risk Management and Performance Analytics (data refresh<br />
services, risk radar alerts, predictive analytics and MERS compliance), Ecosystem of Service Providers (provides<br />
lenders with service ordering and delivery interfaces to third-party providers).<br />
Cloud Lending [San Mateo, 2012]: Offers tech-enabled management solutions for lending institutions. Solutions<br />
include lease servicing platform (integrates work of collection agents, repossession agents, equipment resellers<br />
and dealers), Loan Management Software (loan & portfolio management), Microfinance Loan Management<br />
Software and Peer to Peer (P2P) Lending management software.<br />
$22.4M<br />
$12.4M<br />
$8.1M<br />
Serent Capital<br />
Volition Capital<br />
Green Visor Capital GP I LLC,<br />
Lighter Capital, SF Capital<br />
Lending<br />
Softwares<br />
Medallion Analytics [Pittsburgh, 2009]: Medallion Analytics is a web solution covering compliance and<br />
verification across the loan origination process. By providing unique data extraction tools, Medallion Analytics<br />
solutions deliver real-time analysis and evaluation of mortgage documents. Medallion Analytics helps companies<br />
extract data from documents instead of relying only on image files. This data can then be used to pre-populate<br />
forms and ensure greater quality, accuracy and compliance in loan documents from pre- to post-close.<br />
$4.8M<br />
Lending<br />
Softwares<br />
Roostify [Burlingame, 2012]: Roostify is a web and mobile service that makes the home buying experience<br />
easier and quicker for everyone involved. Led by technology, real estate and mortgage banking experts, Roostify<br />
provides step-by-step guidance in home and loan closing.It digitizes the entire application-to-closing process for<br />
loans: consumers can submit a full loan package in minutes and loan officers can conduct closing activities with<br />
their client, all electronically and all in one place.<br />
$4.7M<br />
American Capital Corporation,<br />
USAA, Colchis Capital<br />
Management, LLC<br />
170<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (14/43)<br />
Company Details Funding Investors<br />
Lending<br />
Softwares<br />
Response Analytics [Scottsdale, 2006]: Response Analytics provides financial services optimization solutions<br />
for the loan service, distressed asset investor, retail banking, mortgage banking, commercial banking, and<br />
automotive finance industries. Its platform features modeling, and optimization technology, as well as provides<br />
distressed loan optimization, price optimization, NSF Fee optimization, and enterprise modeling and analysis<br />
platform solutions.<br />
$4.3M<br />
RWI Ventures, Peninsula Equity<br />
Partners<br />
Lending<br />
Softwares<br />
LoanTek [Boise, 2008]: LoanTek provides a loan pricing engine and origination platform to mortgage<br />
companies, consumer direct divisions, and loan originators. Its products include Loan Desk Manager (lock<br />
management system), Automated Quoting (single and multi-channel), Lead Management Services, Campaign<br />
Manager, Lead Manager, Loan Pricer, Website Quote Widget and LoanTek Connect.<br />
$1.2M<br />
Lending<br />
Softwares<br />
Rate Reset [McLean, 2008]: Rate Reset provides a software platform that allows customers to lower their<br />
monthly auto loan payment and reset the terms of their mortgage without refinancing. The financial institution<br />
screens loans that qualify for reset, then notifies the customer of the option to reset the terms. Rate Reset’s<br />
software platform provides a turnkey solution of legal documents (e.g. riders, addendums, disclosures, etc.) and<br />
marketing collateral for the institution. The member uses their institutions website to customize their auto or<br />
mortgage loan term, interest rate and monthly payment and review appropriate documents and/or disclosures. If<br />
the customer decides to execute the option, they click the reset button, e-sign the loan document to complete the<br />
process.<br />
$1.1M<br />
Warren Capital Group<br />
Lending<br />
Softwares<br />
ZimpleMoney [Costa Mesa, 2008]: ZimpleMoney is a fully automated online software for businesses and<br />
consumers to make and automate loan management and in-house financing plans. ZimpleMoney sends a bill,<br />
accepts payments, posts ledgers and deposits cash instructed. Alerts and messages sent to the all parties,<br />
advising them of the status throughout the process. ZimpleMoney puts you in control of financing your customers<br />
and is an easy to use alternative to expensive bank financing or credit credit cards.<br />
$0.6M<br />
Lending<br />
Softwares<br />
Lender Sentinel [Plymouth, 2009]: The Lender Sentinel provides a software which is a combination of data<br />
warehouse and early warning system allowing clients to dynamically set parameters to reflect existing or<br />
anticipated market conditions. It also can allow for hypothetical analysis of potential problems with its<br />
customizable stress and shock testing.<br />
$36.5k<br />
171<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (15/43)<br />
Company Details Funding Investors<br />
Lending<br />
Softwares<br />
Lending<br />
Softwares<br />
Creditable Ltd [London, 2010]: Creditable provides software for employers to extend credit to their employees<br />
or monitor their credit health. Using their services employees can apply for loans against their wage or request a<br />
deduction in their wages as a savings plan. It also allows employees to see what is in their personal bank<br />
account in real time. They can quickly view their balance and statements.<br />
BEP Financial Systems [Oxford, 2012]: BEP Financial Systems provides mortgage origination and lending<br />
software. BEP FS consult and deliver on the end to end mortgage and life cycle, including the production of an<br />
investment paper for the board to consider moving into the UK Lending Market, right up the delivery of a<br />
technology or out-source project from the initial idea to the transformation into performing effectively in live use.<br />
BEP FS clients are primarily banks, building societies, mortgage lenders, brokers and software vendors.<br />
$15k Startupbootcamp<br />
Lending<br />
Softwares<br />
App Studios [ , 2013]: Apps Studios | 360° Creative & Digital Studios is a provider of global IT and<br />
enterprise application solutions with core focus on Asset Finance, Leasing and Floorplan Financing Software<br />
Solutions for the Asset Finance & Leasing Industry. They create Websites, Mobile Applications and Games,<br />
2D/3D Digital Art and Animations, HD videos, Interactive Installations and just about anything that takes<br />
advantage of digital technology.<br />
Lending<br />
Softwares<br />
Lending<br />
Softwares<br />
Envertex Realty [Irvine, 2013]: Envertex Realty provides technology solutions for mortgage industry such as<br />
mortgage website design, mortgage marketing solutions, mortgage lead management, salesforce and CRM<br />
optimization, automated voice marketing and automated email mortgage marketing. It also extends other<br />
services such as online, secure loan forms, CRM services and contact management services for mortgage<br />
lenders.<br />
Floify [Boulder, 2012]: Floify provides mortgage borrower portal and dashboard to financial institutions. The<br />
product offers a range of features such as Borrower Portal (automated document collection from borrowers),<br />
Milestone Updates (keeping borrowers and real estate agents updated with milestones), Workflow Tasks<br />
(tracking back-office workflow tasks) and Pipeline Status (pipeline monitoring). As of August 1st 2015, Floify<br />
achieved a 24% month-on-month growth rate.<br />
172<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (16/43)<br />
Company Details Funding Investors<br />
Lending<br />
Softwares<br />
Blend Labs [San Francisco, 2012]: Blend is an end-to-end solution for a customer-first mortgage and<br />
regulatory-compliant mortgage and data management. It helps facilitate identification of doubtful loans, loan<br />
lifecycle, collaboration of multiple stakeholders of a loan and a dashboard providing a complete view of individual<br />
loans. Their customers include loan officers, mortgage lenders, mortgage servicers, portfolio analysts, and<br />
mortgage investors.<br />
Andreessen Horowitz, Lightspeed<br />
Venture Partners, Insikt, Inc.,<br />
Initialized Capital, HVF Labs,<br />
Conversion Capital<br />
Lending<br />
Softwares<br />
Lending<br />
Softwares<br />
LendSnap [Berkeley, 2014]: Lendsnap provides a platform for automated documentation generation for<br />
mortgage loans. The platform links to consumer's accounts to generate financial and income data and provide<br />
automated documentation for the process, thus cutting short the time required to process and close the loans.<br />
Using the website, users can share their profile privately with the lenders, improving security and transparency.<br />
Pareto Pulse [Tel Aviv, 2014]: Pareto Pulse provides banks/MFIs, mobile money providers and online lenders a<br />
single solution to implement mobile lending. Their system offers big data predictive analytics and models that<br />
improve over time, a mobile-first automated lending platform, the ability to monitor and adjust their credit strategy<br />
and more. Their online lending solutions incorporate advanced multi-channel technology and analytics that allow<br />
small and mid-size financial institutions to profitably lend online in a highly competitive market that is being<br />
disrupted by new entrants such as peer-to-peer lenders and mobile money lenders.<br />
Lending<br />
Softwares<br />
Lending<br />
Softwares<br />
Expert1 Pty Ltd [Brisbane, 2013]: They are a software development company specialising in Origination and<br />
Management of Loans (Interest bearing and interest free), Mortgages (PI and IO), Leases, Rentals and<br />
Investment accounts. Products include Tango32 loan management system, Phoenix loan origination system<br />
among other integrated enterprise software solutions.<br />
Twenty7Tec [London, 2014]: Twenty7Tec Group provides technology solutions designed to the lending market.<br />
Backed by venture capital firm Verso Capital, the companies systems include: 1)MortgageSource: delivers<br />
mortgage sourcing, 2)LoanSource: enables the comparison of secured lending products alongside mortgages, as<br />
well as comparing bridging and commercial funding options, 3)MortgageApply: a web based application<br />
submission platform that enables intermediaries to tie directly into lenders decision making engines to submit<br />
applications and 4)SourceInsight: a unique portal that enables lenders to identify trends in both intermediary and<br />
D2C mortgage sourcing, providing vital MI and competitor analysis.<br />
173<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (17/43)<br />
Company Details Funding Investors<br />
Lending<br />
Softwares<br />
Money Mola [Oregon, 2015]: MoneyMola is an online loan management service that allows users to setup and<br />
manage loans amongst family and friends. It enables users to schedule repayments, agree on terms and keep a<br />
track on loan progress. It charges $10 sas a one time registration fee and a 1% commission on a successful<br />
repayment.<br />
Lending<br />
Softwares<br />
Lending Front [New York City, 2014]: Lending Front provides an online platform for SME lending. It provides<br />
application management (via web or APIs), data source capture and presentment (social, credit bureau, fraud<br />
and cash flow data), decision making (automates underwriting), loan management (handles loan life cycle<br />
including portfolio management dashboard, electronic funding, payment collection) and monitoring (performance<br />
monitoring of customers).<br />
Lending<br />
Softwares<br />
LendingKarma [San Francisco, 2009]: Lending Karma provides an online platform that facilitates secured and<br />
unsecured P2P lending between people who know each other. The company provides standard loan<br />
agreements, documentation, terms and loan tracking for the loan lifecycle. The lender has to manually record and<br />
update the status of the repayments on the platform. Lending Karma facilitates money transfer using Dwolla<br />
account for both the lenders as well as the borrowers.<br />
Lending<br />
Softwares<br />
LoanBack [San Francisco, 2005]: Loan Back provides loan agreement builder of friends and family loans. It<br />
has two products which help facilitate the same: Loan Builder and Loan Forms. LoanBuilder provides the<br />
functionality to calculate loan terms including repayment amount and tenure, and helps the facilitator build a legal<br />
binding loan agreement for the parties involved. Loan Forms provides a downloadable template for a legal<br />
binding loan agreement. Parties involved have to enter the loan details, options such as collateral, details for<br />
borrowers and lenders and purchase the loan agreement. The products are fairly simple and provide a DIY type<br />
of agreement maker along with an option to customize the agreement as per their preferences.<br />
Investment<br />
Platform<br />
Orchard [New York City, 2013]: Orchard Platform is an investment and analytics platform that supports the<br />
marketplaces for loans by providing technical and operational efficiencies to help institutional investors and loan<br />
originators connect and transact.The platform enables institutional investors to scale their investment in the<br />
marketplace lending space by providing investment strategy, real-time execution and reporting, analytics, and<br />
access to supply. It helps originators expand the credit landscape by connecting them to a diverse set of capital<br />
providers and enables them to focus on making loans and giving borrowers more choices. The company is a<br />
SEC registered investment adviser<br />
$44.7M<br />
Spark Capital, Canaan Partners,<br />
Conversion Capital, Brooklyn<br />
Bridge Ventures, QED Investors,<br />
tom glocer, Thrive Capital, Victory<br />
Park Capital, Thomvest Ventures,<br />
Nyca Partners<br />
174<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (18/43)<br />
Company Details Funding Investors<br />
Investment<br />
Platform<br />
LendingRobot [Bellevue, 2012]: LendingRobot automates loan selection and investment in P2P Lending. It<br />
allows investors to optimize their strategies and define rules to systematically execute them. The platform selects<br />
and submits orders in less than one second after new loans appear, allowing individual investors to compete with<br />
hedge funds and institutions for the most sought-after opportunities. Charges an annual fee equal to 0.45% of<br />
user's account value above $5,000.<br />
$3M Runa Capital<br />
Investment<br />
Platform<br />
PeerTrader [Chicago, 2013]: PeerTrader is a high-speed investment automation engine for lenders who use the<br />
P2P lending site Prosper.com. It enables P2P investors to purchase notes via the Prosper Marketplace loan<br />
platform. Also offer a full range of analytics and consulting services, including advanced portfolio analysis,<br />
strategy development, and algorithm testing.<br />
$50k<br />
Investment<br />
Platform<br />
Next Invest [Belfast, 2015]: Next Invest is an alternative finance comparison company. It compares alternative<br />
investment opportunities including Retail Bonds, Peer-to-Peer Lenders and others. It enables individuals to invest<br />
in a number of different Peer to Peer Lending opportunities from one site.<br />
Investment<br />
Platform<br />
IDX-MarketSync [New York City, 2015]: IDX MarketSync offers a fully automated platform for investing across<br />
Prosper, Lending Club and Funding Circle. The platform offers proprietary loan selection algorithms and<br />
comprehensive reporting to participate in the P2P asset class. Free for accounts up to $25,000 and charges then<br />
2 basis points a month.<br />
Investment<br />
Platform<br />
Peer Lending Server [Tampa, 2013]: Peer Lending Server provides underwriting and analytics software for<br />
marketplace lending. PLS underwrites and filters loans as and when they are listed and also provides historical<br />
analytics on current and projected return on investment as a way of evaluating loan strategies. The company<br />
combines machine learning, automation and analytics to provide services to users.<br />
175<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (19/43)<br />
Company Details Funding Investors<br />
Investment<br />
Platform<br />
Investment<br />
Platform<br />
Investment<br />
Platform<br />
Investment<br />
Platform<br />
Investment<br />
Platform<br />
BlueVestment [Boston, 2013]: BlueVestment is a P2P account management service. Using the BlueVestment<br />
service, users can configure automatic management of day-to-day activities of their Lending Club account. There<br />
are two main components: the BlueVestment web site and the BlueVestment engine. BlueVestment website is to<br />
configure the BlueVestment engine. The BlueVestment engine runs on their own servers and is not something<br />
that user installs. It is a third-party service which interacts with Lending Club. In June 2015 BlueVestment and<br />
Interest Radar announced that they were merging. They will operate under the combined entity, BlueVestment,<br />
LLC and will continue their focus on Lending Club.<br />
NSR Invest [ , 2015]: NSR Invest is an investment and analytics platform that provides access to P2P<br />
marketplaces for financial advisors, institutions, and individuals. Its services for individuals consists of P2P Fund<br />
(accredited investors) and Managed Account (retail investors). Managed accounts usually consist of three risk<br />
classes: Conservative, Balanced and Assertive. For investment advisers and institutional investors it provides a<br />
trading and analytics platform directly connected to loan origination marketplaces. For Lending Club and Prosper<br />
it provides back testing and Portfolio Analyzer. It also provides services for other platforms such as Funding<br />
Circle and Upstart.<br />
Smart Lenders Asset Management Ltd [London, 2014]: Smart Lenders Asset Management is a London<br />
based asset manager focused exclusively on marketplace lending. It focuses on the prime segment of the credit<br />
curve, both in the United States and Europe, actively studying the new online marketplaces in order to find value<br />
and diversification. The company invests exclusively in loans issued through lending marketplaces, not in equity<br />
of platforms or other ventures.<br />
PeerCube [Seattle, 2014]: PeerCube is a marketplace lending analytics platform. The SaaS platform currently<br />
offers P2P lenders data-driven lending portfolio management, lending decision and automation, lending strategy<br />
development and back-testing with historical data. for Lending Club and Prosper peer to peer lending platforms.<br />
Almost $6 million of portfolio is analyzed on weekly basis using PeerCube portfolio analysis tools. Over 800<br />
lending strategies have been developed using PeerCube tools and data.<br />
Lendery [London, 2014]: Lendery is a centralised platform that enables institutional investors deploy capital<br />
across marketplace lending platforms. It offers a trading software to buy/sell loans in real-time manually or<br />
automatically according to credit strategies and view all investments in a single portfolio. They have partnership<br />
with lending platforms to enable the investors manage and diversify their portfolio from a single website. Its<br />
product features are automated loan acquisition, real-time order processing, analytics reporting and<br />
diversification based on investors' preferences.<br />
176<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (20/43)<br />
Company Details Funding Investors<br />
Investment<br />
Platform -<br />
Analytics<br />
CrediFi [New York City, 2013]: Credifi provides real-time and large scale monitoring of loan and property<br />
markets using big data analytics to facilitate prospecting, deal and loan origination, and post-deal asset<br />
monitoring and trading. It also provides comps analysis, risk analysis, market benchmarking, and loan and<br />
property analytics. The company focuses on whole loans, loan portfolios, and CMBS loans and covers mortgagebacked<br />
loans of all types including single-lender, syndicated, and CMBS. It covers over a 100 cities in US and<br />
provides its services to various institutions including funds and buy side, lenders and sell side, owners, REIT ans<br />
brokers and other professionals.<br />
$8M<br />
Battery Ventures, Carmel Ventures,<br />
OurCrowd<br />
Investment<br />
Platform -<br />
Analytics<br />
PeerToPeer Quant [ , 2014]: Peerto Peer Quant provides analytics and recommendations for investors investing<br />
on lending club. Its model is based on historic note performance and artificial intelligence to determine which<br />
borrowers will pay the highest interest rates but not default.<br />
Credit<br />
Management<br />
Risk and Fraud<br />
Management<br />
Risk and Fraud<br />
Management<br />
Creditude [Purmerend, 2015]: Creditude is a company that focuses exclusively on the professional performing<br />
debtor visits within their own debt trajectory of businesses. These visits are carried out in accordance with the<br />
"Code of Conduct debtors visit" which is organized by the Dutch Association of Collection companies (NVI). The<br />
service is for SMEs, Large comapnies and Debt collection companies.<br />
ID Analytics [San Diego, 2002]: ID Analytics consumer risk management firm with patented analytics, proven<br />
expertise and real-time insight into consumer behavior. By combining proprietary data from the ID Network - one<br />
of the nation’s largest networks of cross-industry consumer behavioral data—with advanced science, ID Analytics<br />
provides in-depth visibility into identity risk and creditworthiness. Many of the largest U.S. companies and critical<br />
government agencies rely on ID Analytics to make risk-based decisions that enhance revenue, reduce fraud,<br />
drive cost savings and protect consumers. Based in San Diego, California, ID Analytics is a wholly-owned<br />
subsidiary of LifeLock, Inc.<br />
PeerIQ [New York City, 2014]: PeerIQ is a New York-based financial information services company which<br />
provides tools to analyse, access and manage risk in the P2P lending sector. It pools detailed loan data to<br />
provide independent analytics and benchmarks that institutional clients can use to price instruments, value loan<br />
portfolios, develop investment views, and manage riskIts investors are John Mack, Vikram Pandit, Arthur Levitt,<br />
Dan Doctoroff and Eric Schwartz.<br />
$35.2M<br />
$8.5M<br />
Investor Growth Capital, Canaan<br />
Partners, Mission Ventures, Trinity<br />
Ventures<br />
Victory Park Capital, Fenway<br />
Summer<br />
177<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (21/43)<br />
Company Details Funding Investors<br />
Risk and Fraud<br />
Management<br />
p2p Safety [San Francisco, 2015]: P2P Safety develops products to manage risk in crowd and P2P finance.<br />
The company offers these products to investors and platforms. The company is currently in development mode<br />
and is in talks with platforms to launch its product.<br />
Analytics<br />
Think Finance [Worth, 2001]: Think Finance develops financial solutions to meet the needs of underbanked<br />
consumers. It offers Presta, lease-purchase program for electronics and housewares online; Elastic, a line of<br />
emergency credit offered to people by their employers and Rise, and installment loans product. In addition, they<br />
also provide analytics and marketing services to financial institutions. They provide technology for Loan<br />
Origination & Management Products, fraud/risk management among other lines of businesses.<br />
$60M<br />
Sequoia Capital, Victory Park<br />
Capital<br />
Open Lending [Austin, 2000]: Open Lending provides automated lending services to financial institutions. The<br />
company specializes in loan analytics, risk-based pricing, risk modeling and automated decision technology for<br />
automotive lenders throughout the United States. The company was founded in Austin, TX in 2000 and is<br />
privately owned.<br />
$10M<br />
Analytics<br />
Aggregator<br />
BankBazaar [Chennai, 2008]: Bankbazaar offers an internet-based multi-brand financial product comparison<br />
platform, designed to aid applicants with choosing loans and credit cards online, without need of any paper work<br />
and offline processing. It serves as an online marketplace to instantly search, compare and apply for loans, credit<br />
cards and insurance products. It provides information about personal loan, home loan, car loan and insurance<br />
products and a comparison tool to apply. Has partnerships with India’s leading financial institutions and<br />
insurance firms.<br />
$80M<br />
Sequoia Capital, Walden<br />
International, Fidelity Growth<br />
Partners India, Amazon India<br />
Aggregator<br />
MoneyExpert [London, 2004]: MoneyExpert is a UK based financial products comparison site. It compares<br />
current accounts, mortgages, savings accounts, credit cards, personal loans, prepaid cards, debt management<br />
plans, utilities & insurance products. MoneyExpert also own Simply Switch, a utility comparison website for<br />
gas, electricity, home phone, mobile phone & broadband services.<br />
$38.5M<br />
Technology Crossover Ventures<br />
178<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (22/43)<br />
Company Details Funding Investors<br />
smava [Berlin, 2006]: Smava is an aggregator of loan products and a credit marketplace. The platform provides<br />
comparison functionality for products such as personal loans, mortgage refinancing, and more. The platform is<br />
available to consumers free of charge andcharges credit providers instead.<br />
$29M<br />
EarlyBirdCapital, Phenomen<br />
Ventures<br />
Aggregator<br />
TotallyMoney.com [London, 2006]: Totallymoney is a UK based credit comparison website that offers<br />
comparison of financial products like credit cards, loans and mortgages. The site provides links to be redirected<br />
to the provider's website and makes money by charging commission of sold products.<br />
$26.7M<br />
Scottish Equity Partners<br />
Aggregator<br />
Aggregator<br />
ApnaPaisa [Mumbai, 2007]: ApnaPaisa (previously known as Apnaloan which was started in 2000) is an online<br />
marketplace for home loans, personal loans and credit cards in India. Apnapaisa is a price and feature<br />
comparison service provider that empowers consumers to take an informed decision by providing a<br />
comprehensive comparison facility. It enables consumers to compare online quotes & features of loan<br />
products – Home loans, LAP, Car loans, Education loans, Gold loans and credit cards. Trilegal-advised Casa<br />
Capital has acquired stake in ApnaPaisa in Dec 2014. It is acquired by Andromeda.<br />
$20.2M<br />
JAFCO Asia, Sequoia Capital,<br />
Chrys Capital, Intel Capital<br />
Aggregator<br />
Fundera [New York City, 2013]: Fundera is an online marketplace that connects small business owners with the<br />
best funding provider for their businesses. Fundera works with hand-picked, prescreened lenders to assemble<br />
the highest quality funding sources for small business owners and ensures borrowers receive fair terms and rates<br />
on each loan. Displays term loans on the basis of data analysis of merchant's payables and receivables through<br />
accounting softwares such as Xero and QuickBooks. The company was co-founded in 2013 by GroupMe cofounder<br />
Jared Hecht, successful software entrepreneur Rohan Deshpande and seasoned entrepreneur Andres<br />
Moran to bring transparency to the lending process. Angel investors Strauss Zelnick, Rob Wiesenthal, David<br />
Rosenblatt and David Tisch also participated in the seed round. Has Secured $12M In Funding For More Than<br />
300 Small Businesses as of Feb 2015.<br />
$15M<br />
Khosla Ventures, First Round<br />
Capital, QED Investors, BoxGroup,<br />
Susquehanna Growth Equity, Lerer<br />
Ventures, SV Angel<br />
Aggregator<br />
New England Funding Technologies, LLC [Newport Beach, 2014]: NEFT is a consumer credit platform,<br />
facilitating direct and real-time communication of the consumer with the existing network of systems connecting<br />
today’s data providers, lenders, creditors, credit bureaus and retailers. The product is scheduled to launch in<br />
2016.<br />
$10M<br />
179<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (23/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Sindeo [San Francisco, 2013]: Sindeo is a lead generator platform for mortgage loan providers. It provides<br />
many services to consumers, looking for mortgage loans, such as information on mortgage loans, consumer's<br />
readiness, personalized action plan, approval and qualification, and closing formalities including document<br />
aggregation and closing. It has a marketplace for various nationalized and specialty lenders providing<br />
comparison on price, closing formalities, time etc. Sindeo charges a fee from the lenders as lead generation fee.<br />
Its investors are Renren, MMO Holdings, New Ground Venture and Endurance.<br />
$7M Renren<br />
iMoney [Kuala Lumpur, 2012]: iMoney is a free service that helps consumers find the best mortgages, personal<br />
loans, credit cards, savings, and other banking services. It compares data credit cards, loan packages, and of<br />
investment products. iMoney is headquartered in Kuala Lumpur has operations in Singapore, Hong Kong,<br />
Indonesia, Thailand and Philippines.<br />
$6.5M<br />
Jungle Ventures, Vogel Ventures,<br />
iSelect, Asia Venture Group, Econa<br />
AG, Rebright Partners, 500<br />
Startups, IMJ Investment Partners<br />
Pte.Ltd, Fenox Venture Capital<br />
Aggregator<br />
Alltuition [Chicago, 2010]: Alltuition is an online search engine that enables collage students to find sources for<br />
financial aid. It tracks student loan providers to help students find the best loans they are eligible for and to<br />
understand the real cost of borrowing.<br />
$4M<br />
Hyde Park Angels, Kapor Capital,<br />
Pritzker Group Venture Capital,<br />
Sandbox Industries, Excelerate<br />
Labs<br />
Aggregator<br />
Bestdealfinance [Mumbai, 2014]: Offers an online platform for users to search, compare and apply for loans.<br />
Currently offers info on two types of loans for SME's and Retail. Also offers an EMI calculator.<br />
$3.3M<br />
Kalaari Capital, YourNest Angel<br />
Fund, Globevestor, Dexter Capital<br />
Advisors<br />
Aggregator<br />
180<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (24/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Funding Options [London, 2011]: Funding Options is an online technology platform that acts as a match maker<br />
between borrowers seeking business loans and numerous alternative lenders. A borrower can list his details that<br />
would usually be filled in a loan application and sift through various lenders that will be suitable for his loan<br />
requirement. A business owner can search for various types of loans including working capital financing.<br />
$3.1M<br />
GLI Finance Ltd<br />
Aggregator<br />
compareit4me.com [Dubai, 2011]: Compareit4me helps you compare offers for Loans, Cards and Accounts,<br />
from the top banks in UAE. They list hundreds of banking products from credit cards to personal loans helping<br />
you find the right products for you. They also have a blog educating people about different kinds of financial<br />
products.<br />
$3M<br />
STC Ventures, Dubai Silicon<br />
Oasis, Wamda Capital<br />
EVEN Financial [New York City, 2014]: EVEN Financial is a supply side platform for marketplace lending (P2P)<br />
market to help bring more and better quality borrowers into the marketplace lending ecosystem. Its platform uses<br />
a data-driven and market-based approach, matching borrowers with the appropriate lender, loan product and the<br />
borrrowing rate.<br />
$2.8M<br />
Brooklyn Bridge Ventures,<br />
Conversion Capital, Lerer Ventures<br />
Aggregator<br />
Aggregator<br />
MoneySmart [Singapore, 2009]: MoneySmart is a personal finance portal helping consumers compare loans,<br />
insurance and credit cards. The company has tie-ups with major financial institutions in Singapore. The platform<br />
aggregates and consolidates product information to a single platform for comparison that's personalized to the<br />
consumer profile. MoneySmart Blog provides readers with tips, reviews and commentary on fnancial products<br />
and investments. In Dec'14, the Company entered Indonesia by acquiring its Indonesian counterpart, KreditAja,<br />
in a full equity deal.<br />
$2.5M<br />
Golden Gate Ventures,<br />
S'porePressHoldings,<br />
Convergence Ventures, OPT SEA<br />
PTE LTD<br />
Aggregator<br />
rateGenius [Austin, 1999]: RateGenius is a multi-state, web-based auto loan refinance/brokerage company. By<br />
hosting a virtual marketplace, rateGenius brings together qualified borrowers and more than 200 lenders to<br />
create financing opportunity for its customers to refinance their loans on cars, trucks, SUVs and specialty<br />
vehicles, such as boats, RVs and motorcycles.<br />
$2.1M<br />
181<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (25/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Octane Lending [New York City, 2013]: Octane Lending is a loan application platform that enables recreational<br />
dealers to apply to multiple sources of financing for their customers simultaneously, without rekeying information,<br />
and with a single hard credit pull instead of one-by-one with pulls for each application. Signed up 50 dealerships<br />
with a combined 36 stores.<br />
$2.1M<br />
DreamIt Ventures, Contour Venture<br />
Partners, Rider Insurance<br />
Aggregator<br />
LoanHero [La Jolla, 2014]: LoanHero is a loan origination marketplace that brings together customers,<br />
merchants, and loan products and services providers. Using LoanHero's technological infrastructure, customers<br />
can check their credit rating and gain access to loans and services providers. Merchants can sell their products<br />
quicker if they partner with LoanHero as their consumers get the availability of financing options. The platform<br />
received debt financing commitments worth $20 million in June, 2015.<br />
$1.7M<br />
Aggregator<br />
bayzat [Dubai, 2012]: Bayzat allows users to search and compare banking products such as Credit Cards,<br />
Personal Loans, Home Loans, Auto Loans and Accounts. The platform provides comprehensive information<br />
covering all the major banks in the UAE. In addition, the portal also provides guidance and answers to any<br />
banking-related questions. Visitors can apply for a callback from banks for specific products, and Bayzat works<br />
with the banks to guarantee that visitors are being contacted.<br />
$1M BECO Capital<br />
Canal do Crédito [Nova Lima, 2009]: The Canal do Crédito is online aggregator of mortgages and loan<br />
products in Brazil. It follows an online brokerage model that brings specialized information for those who want<br />
credit line and at the other end, forward these customers for financial institutions. Using comparison tools, it<br />
allows users to choose the most appropriate line of credit for their needs. It compares financial products, with the<br />
interest rate and other relevant information for those who want to take loan.<br />
$0.8M<br />
Confrapar<br />
Aggregator<br />
Enuygun.com [Istanbul, 2008]: Enuygun is a price comparison site in Turkey focusing on personal finance. The<br />
site operates in four verticals: Money (bank loans, mortgages, credit cards), Insurance (motor insurance, home<br />
insurance), Travel (airfares, hotels) and Home Services (ADSL, GSM tariffs).<br />
$0.5M<br />
R2 International GmbH<br />
Aggregator<br />
182<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (26/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Aggregator<br />
LoanBaba [Mumbai, 2015]: Part of Sahas Technologies, LoanBaba helps users to compare, select and apply<br />
for loans. Loan services include car loans, unsecured personal loans, unsecured business loans, home loans,<br />
loans against property. Provides quotes after the user fills a simple form and the application is forwarded to<br />
partner banks and NBFCs. Also offers faster loan processing by allowing users to attach salary slip, income tax<br />
return certificate, KYC , etc. Partners include IIFL, Reliance capital, Kotak, Indiabulls, IndusInd Bank, HDFC<br />
Bank, ICICI Bank, Axis Bank, LIC HFL, PNB Housing, Bajaj Finserv, L&T Finance, Deutsche Bank and<br />
Fullerton India.<br />
Achieve Lending [New York City, 2014]: Achieve Lending is a portal that allows users to find and compare<br />
multiple loan offers all in one place. The loans can be personal, business, student, or debt/consolidation in<br />
nature. Users need to complete a survey, compare loan offers, and choose from among the ones that best meet<br />
their needs. The platform also offers an affiliate program where promoters of the portal can earn 30%<br />
commission via referral.<br />
$0.3M<br />
$50k<br />
Aggregator<br />
Aggregator<br />
Aggregator<br />
Comparabien [Lima, 2010]: Comparabien is a financial products comparison website. The products compared<br />
on the platform include personal loans, car financing, credit cards, real estate financing. They have operations in<br />
Argentina, Brazil, Chile, Columbia, Mexico, Peru.<br />
Loandesk [North Sydney, 2013]: Loan Desk provides an online loan matching platform for borrowers and<br />
lenders in Australia. The borrower completes a profile on the website with specific details post which their<br />
requirements are matched with specific lenders on the platform. The user can then choose the lender they want<br />
to work with and select the suitable offer. The platform facilitates different types of business loans including<br />
unsecured business loan, equipment financing, fixed term loan, trade financing, inventory finance, short term<br />
financing, invoice financing, commercial real estate loan and business line of credit.<br />
Finrek [Jaipur, 2014]: Finrek is an online marketplace where users can browse through various loan offers<br />
made by the firm's partner lenders across different categories and choose the best suited one. Lenders on the<br />
platform comprise of scheduled commercial banks, NBFCs and private money lenders. Its online loan solutions<br />
are targeted for both individuals and firms. Its product farmConnect helps individuals finance the farming<br />
activities. Secured seed funding from individual investors. The company claims to receive about 175-200 loan<br />
enquiries every month, 60% of which get converted into successful disbursals.<br />
$40k Start-Up Chile<br />
$19k<br />
$12k<br />
183<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (27/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
MyLoanCare [Gurgaon, 2013]: MyLoanCare offers an online platform for loan comparison. Allows comparing<br />
home loan and loan against property offers from multiple PSU/ private and foreign banks in a single window on<br />
the basis of interest rate, tenure, EMI, processing charges and prepayment charges. Offers loan calculator, EMI<br />
calculator, eligibility calculator and home loan balance transfer calculator. Earns revenue from banks for sourcing<br />
loans, does not charge fee from users. Pivoted from offering advisory services in Sep 2014<br />
Aggregator<br />
Purple Home Loans [Truro, 2015]: PurpleHomeLoans is a mortgage advisor covering the whole of the UK. The<br />
company searchs a wide range of mortgage lenders as it is not tied to one lender.Charge a fee for mortgage<br />
advice. Average fee is £495. Also receive commission from the lender.<br />
Find Title Loans [Scottsdale, 2015]: FindTitle loan is a recommendation platform for auto title lenders. Work<br />
with cars, boats, and motorcycle title loans. Users can search by zip code or by car model to find the title loan<br />
offer on their vehicle. The entire process usually takes less than 30 minutes to complete<br />
Aggregator<br />
eBroker [Sydney, 2015]: eBroker is listing platform that provides a list of lenders for Australian small<br />
businesses owners. Network with 25+ non bank lenders offering Un Secured business loans from 5k to 500k.<br />
Aggregator<br />
Funda [London, 2015]: Funda is an aggregator of P2P lending platforms thus providing SME access to capital.<br />
It is an app where businesses can connect all their cards & accounts.<br />
Aggregator<br />
184<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (28/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Cashflow Bridge [Essex, 2015]: CashFlow Bridge is a lead generation platform for short term business<br />
financing. The company has the relationships with major lenders in the market. The company find the most<br />
suitable lender and put together the best application possible within borrower's timescales. The lenders pay a<br />
commission to the company for volume business.<br />
Aggregator<br />
Aggregator<br />
CreditSquare [London, 2013]: CreditSquare is a boutique finance broker sourcing debt finance for established<br />
SMEs from alternative, institutional lenders. It is a broker for small-to-medium-sized UK businesses &<br />
alternative lenders.<br />
Universal Litigation Loans [Bedford, 2015]: Universal Litigation Loans is a credit and insurance broker. The<br />
company support claimants in civil disputes where the financial remedy sought is greater than the amount of<br />
finance requested. The company works with solicitors. The products are sourced on behalf of clients and their<br />
solicitor and are designed to deliver a cost effective solution for paying solicitor’s fees and disbursements.<br />
Lenders include private lenders, institutional lenders, peer to peer lenders, finance brokers and insurance<br />
companies.<br />
The Lendster [New York, 2014]: TheLendster is an online platform that connects small business owners with<br />
lenders in their region for working capital financing needs. It lets the business owners upload their information to<br />
the portal where they'e connected to the lenders. Lendster is only a referral network that helps in lead generation<br />
and not a lender or a marketplace.<br />
Aggregator<br />
Aggregator<br />
Loan Mantras [Bangalore, 2013]: Loan Mantras allows users to compare and apply online. Offers instant<br />
quotes for poersonal loans customized to the borrowers profile by filling the form. Claims to have partnered with<br />
HDFC Bank, ICICI Bank, Bajaj Finserv & Fullerton to offer low interest loans. Also allows to compare home<br />
and car loans.<br />
185<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (29/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Aggregator<br />
RupeePower [Gurgaon, 2011]: Online marketplace platform for retail loan quotes and insurance. Served 100k+<br />
customers since establishment in procuring the financial products for individual needs.Offers personal finance<br />
planning, loan/insurance aggregation and portfolio management for customers. Also offers an EMI calculator for<br />
various types of loans on the portal. The company has tied up with up with leading banks, insurers, brokers<br />
& NBFCs. In the process of launching insurance marketplace and PaaS. Snapdeal acquired a majority stake<br />
in the company and is planning to launch a financial services marketplace.<br />
LoanBoss [Gurgaon, 2002]: LoanBoss is an online platform to get information (quotes) from various loan<br />
providers (banks). Provides solutions to common queries and updates the latest bank schemes on its website.<br />
Offers info on car loans, personal loans, home loans, education loans and loans against property. Also offers<br />
health insurance, car insurance, travel insurance and life insurance comparison services.<br />
Deal4Loans [Delhi, 2007]: Deal4Loans is an online platform for users to get information (quotes) from various<br />
loan providers (banks). Users can calculate EMI and apply for a loan using the platform. Currently offers info on<br />
car loans, personal loans, home loans and education loans. Also provides information regarding credit cards and<br />
allows users to apply.<br />
Aggregator<br />
Aggregator<br />
Paisa Bazaar [Gurgaon, 2009]: PaisaBazaar, part of PolicyBazaar, is an online platform that enables users to<br />
compare for personal/education/home loans and get them online. Also allows users to compare credit cards from<br />
leading banks along with the option to invest in mutual funds online. Along with these, it allows users to search<br />
for best insurance quotes available, compare and buy based on their preferences from leading insurance<br />
companies the company has partnered with.<br />
Aggregator<br />
Deals Of Loan [Pune, 2010]: Deals of Loan is a online site for listing and comparison of loans. They have<br />
designed an apply form for the users to fill and claims to find out users maximum loan limits as per their salary. It<br />
claims to offer quotes from different financial institutions to select lowest interest rate to the customers. It has<br />
partnered with Future Capital, HDFC Bank, SBI, Axis Bank, Fullerton India etc.<br />
186<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (30/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
LoanBaazar [Pune, 2010]: LoanBazaar is an online platform for loan comparison. Users can search for loans,<br />
and get information regarding them (EMI rates, quotes). Allow users to apply for loans using their platform. Also<br />
offers free calculators such as stampduty calculator and EMI calculator.<br />
Aggregator<br />
RetailLending [Bangalore, 2011]: RetailLending is an online platform for home loan comparison. Compares<br />
offers from over 20 recognized lenders including Banks and NBFC’s in India. Offers doorstep collection of<br />
documents.<br />
Aggregator<br />
Connectabank [Mumbai, 2011]: Provides services in banking, financial services and real estate. Using the<br />
platform, consumers can check eligibility and compare loan offers, communicate with loan experts to understand<br />
details of the loan, get confirmation from banks about loans. Offers a calculator tool for balance transfer, loan<br />
amortization and property loan planner, estimated EMI and interest rates. Users can compare loans from 20+<br />
banks. Currently offerings its services in Mumbai, Thane, Noida , Delhi, Gurgaon & Pune.<br />
Aggregator<br />
MoneyLeo [Mumbai, 2011]: MoneyLeo.com is a loan comparison engine in India, which allows its customers to<br />
transparently compare, anonymously apply and get a fast response for their loan enquiry from multiple banks of<br />
their choice. MoneyLeo helps consumers make an informed decision, by providing them near-accurate<br />
customized loan quotes of various banks, based on their income specifications. Also, consumers are connected<br />
with banks over IVR to protect their privacy.<br />
SwitchMe [Mumbai, 2012]: SwitchMe offers an online platform that provides a price comparison tool for home<br />
loans. Also serves as an online switching service between electricity providers and mobile service operators.<br />
They take over the work of switching the existing service provider, based on the user's preference.<br />
Aggregator<br />
187<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (31/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Aggregator<br />
Aggregator<br />
Aggregator<br />
Credit Nation [Delhi, 2012]: Credit Nation is an online marketplace for financial products in India. Offers<br />
Personal loans, credit card, home loan, auto loan, business loan and loan transfer comparison services. Also<br />
offers advisory services for selecting a loan product. Claims to have partnered with ICICI, Indusland, HDFC, Bajaj<br />
Finserv and Axis Bank.<br />
TheLoanWala [Noida, 2012]: TheLoanWala is an online platform to make comparative analysis of loan<br />
products. Based on the user's inputs, various options in the desired loan product are showcased to him/her. User<br />
then chooses the deal that best suits him and submits the loan documents to the company. Provides assistance<br />
to get loans like Home Loan, Personal Loan, Business Loan, Loan Against Property, Education Loan, Corporate<br />
loan etc and partners with over 15 banks and NBFCs like HDFC Bank, ICICI Bank, Axis Bank, SBI, PNB HFL,<br />
India Bulls, Religare etc. Also has a Referral Programme where users can make money every time some one<br />
referred by them gets a loan through the company. Claims to have over 10,000 customers.<br />
Rupeezone [Chennai, 2012]: Financial services across multiple product categories for consumers such as<br />
home loans, personal loans, car loans life insurance among several other products. Online comparison tool along<br />
with expert advice are among the services offered. Offering its services in Bangalore, Chennai, Hyderabad and<br />
Coimbatore. Partners include Axis Bank, Bajaj Finserve, Citi Bank, DCB, Deutsche Bank among other tie-ups<br />
with leading banks and financial institutions.<br />
Saarebank [Delhi, 2013]: Saarebank is an online platform for financial products such as loans like home loans,<br />
mortgage loans, business loans, SME & business loans etc.offered by banks and NBFCs. They provide<br />
comparison of products across various sectors and industry. They claim to provide guidance & complete<br />
process support to the applicant till disbursal. It is a product of Investors World.<br />
Aggregator<br />
Aggregator<br />
Apna Loan Bazaar [Hyderabad, 2013]: ApnaLoanBazaar is a loan listing platform for personal, home,<br />
mortgage, doctor, educational and business Loans. It claims to analyse the market and provide with the suitable<br />
solution available depending on the requirements.<br />
Fundboon [Chennai, 2013]: Online fund portal that provides a comparative analysis of different loan and<br />
insurance products offered by various lenders. Offers an online EMI calculator for estimation of repayment for<br />
principal loan amounts. The platform allows consumers to compare and apply for loans, insurance products and<br />
credit cards.<br />
188<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (32/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Loan Yantra [Hyderabad, 2013]: Loan Yantra is an online loan comparison platform for users to compare and<br />
get quotes from various loan providers.<br />
Aggregator<br />
TakeBestLoans [Pune, 2013]: Takebestloans is an online portal for users to compare and apply for loans.<br />
Users enter their criteria and are provided with a list of loans offered by various financial institutions. Offers both<br />
home loans and loans against property. Product of Artham Consulting.<br />
Aggregator<br />
BankUdhaar [Ahmedabad, 2013]: Web platform that offers information about various types of loan products for<br />
customers and enables them to compare them. Users can browse through various types of loans on the platform,<br />
compare the policies, request for quotes and get expert guidance, profile evaluation and recommendations from<br />
the firm. Also provides an EMI calculator and amortization calculator on the portal.<br />
Aggregator<br />
Easy loan switch [Ghaziabad, 2014]: Part of First Leap Advisors, EasyLoanSwitch is a website to compare<br />
loans. Allows users to compare their current loans along with offerings from partner banks. Claims to have<br />
partnered with 11 banks.<br />
Aggregator<br />
Loanpao [Faridabad, 2014]: Online portal for users to compare and apply for loans. Currently offering loan<br />
products such as home loan, personal loan, business loan, vehicle loan builder loan and loan against property.<br />
Also provides a free EMI calculator.<br />
189<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (33/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Aggregator<br />
Aggregator<br />
Aggregator<br />
LoanStreet [Bangalore, 2014]: Offers a recommendation engine driven platform for customers seeking retail<br />
loans. Serves as a neutral online marketplace that gives an advisory platform, best deals and instant customized<br />
solutions. Its Loan Origination System has integration to various financial institutions and banks in India. Few<br />
offerings include efficient support system for documentation, CRM system for customer to receive status updates<br />
on mail & SMS, customized rewards platform for customers, online chat facility among others. Catered to<br />
6000+ customers and processed 250+ loan applications, 120 personal loans, and 10 mortgages/ home loans<br />
with a total disbursement of INR 11 crore as of June,2015. Plans to expand across 17 other countries.<br />
CashKumar [Bangalore, 2014]: CashKumar is an online platform which deals with financial requirements and<br />
services such as loans, currency exchange and travel insurance. They partner with various banks, NBFC’s and<br />
financial institutions throughout India to offer rates on loans, insurance and forex transactions. The customer<br />
needs to enter the requirements and the aggregation platform will receive the various options based on the<br />
requirement and eligibility and select the most suitable offer.They also offer doorstep service to process all the<br />
documentation.<br />
Compare Guarantor Loan [London, 2012]: Compare Guarantor Loans, as the name suggests, provides a<br />
portal for users to compare various loan products provided by several lenders. All loans are Guarantor backed<br />
and are neither secured against any asset nor are they based upon any credit score. The platform is free of<br />
charge to users and offers loan products for upto 12,000 GBP. Compare Guarantor Loans is a trading style of<br />
Affiniti Digital Media Ltd<br />
Financesource.com [Carlsbad, 2013]: Financesource allows consumers of all credit levels to identify and<br />
compare reputable providers across multiple finance products and services. Our site goes beyond providing<br />
current rates with a curated selection of financial service providers that are automatically matched up to a<br />
consumer’s specific needs and financial situation. Categories covered include banking, business loans, credit<br />
cards, credit reports, home loans and mortgages, insurance, personal finance, specialty vehicle loans, education<br />
loans, and tax preparation.<br />
Aggregator<br />
Credio [Santa Barbara, 2015]: Credio objectively compares financial products and services to provide credible<br />
advice for Bank accounts, Insurance, loans and Financial Advisors. The company also provide a guide for each<br />
product category to help users make informed decisions. Business model is affiliate marketing and sponsored<br />
listings.<br />
190<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (34/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
LeverLoan [Bangkok, 2015]: Leverloan.com is website to compare financial products of Thailand such as Credit<br />
cards, Cash Card, Personal Loan, Car loan, Home loan, as well as insurance products include car insure, fire<br />
insure,travel insure, etc. and who want to invest in Shares company or Gold invesment can compare brokerage<br />
on the website also.<br />
Mortgage Top Ups [Truro, 2015]: Mortgage Top Ups is a UK based mortgage comparison platform. Users need<br />
to enter personal details such as income, expected mortgage terms, among others, and the platform aggregates<br />
mortgage products from multiple lenders to provide the user the optimum alternative. The service is free of<br />
charge to users.<br />
Aggregator<br />
LoanUncle.org [Delhi, 2015]: LoanUncle.org helps users in comparing loans and ensure their query reaches<br />
the chosen banks. All loans are on discretion of the respective Banks. The service is completely free for the users<br />
and it act as online advertising platform for Banks. It provides services for both retail and business loans.<br />
Aggregator<br />
Aggregator<br />
Aggregator<br />
Ratescanner [Johannesburg, 2014]: RateScanner is an online loan comparison platform that aggregates<br />
various loan products and provides users with the optimal choice. The platform is available free of charge to<br />
users and earns money through lead generations. The main purpose is to provide people with access to updated,<br />
relevant and transparent information on the various loans available and a platform to apply for the loan once they<br />
have decided on the loan best suited to them. It has a scorecard system in place to rate each application before<br />
submitting it to the specific financial institution for approval. It only submits scored and approved loan applications<br />
to avoid the submission of unqualified leads.<br />
CreditIQ [New York City, 2014]: CreditIQ helps users find lenders which are most suitable to their needs so that<br />
users can spend smarter. By using a 'soft' credit pull, and networking together with leading providers in Auto,<br />
Home, Personal, and Student loans, we make it easy for you to find out how you can save on existing debt, or<br />
shop with a payment in mind.<br />
191<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (35/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Payday-Choice [London, 2012]: Payday Choice is a loan comparison platform for users in need of payday<br />
loans. Users need to enter details such as income, expenses, family history, expected loan terms, and more, and<br />
the portal aggregates available options to the user.The platform affirms to comparing pay day loan products from<br />
over 40 lenders to provide the optimal alternative to the user.<br />
SwitchMyLoan [Perth, 2012]: SwitchMyLoan is a comparison platform where you can compare lenders offers to<br />
see how much money they can save off their current home loans. The platform is available free of charge to<br />
users and connects them to their bank of preference.<br />
Aggregator<br />
UnitedFinances.com [San Francisco, 2008]: UnitedFinance is an online loan comparison portal. The platform<br />
aggregates loan products such as personal loans, payday loans, auto loans, and more, offered by lenders for the<br />
benefit of consumers. The platform is free of charge for the user and gets compensated by loan providers listed<br />
on the portal.<br />
Aggregator<br />
Raining Pesos [Manila, 2009]: Raining pesos is an online aggregator of the loans available from the banks. It<br />
lists different types of loans(Car, Student, Personal) from different partnered banks and suggest the suitable bank<br />
to the user based on their requirement.<br />
Aggregator<br />
Aggregator<br />
Enjoy Compare [Singapore, 2012]: Based in Singapore, EnjoyCompare is an online platform to compare<br />
different financial products such as loans, credit cards and insurances. It has added the feature of comparing the<br />
broadband plans also. It partners with the banks and other loan providers to import the accurate data.<br />
EnjoyCompare also has a beta site released in Malaysia and Hong Kong.<br />
192<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (36/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
CekAja.com [Jakarta, 2013]: Based in Indonesia, Cek Aja is an online platform for the individuals and SMEs to<br />
compare various financial and insurance products. It offers comparison of products such as loans, credit cards,<br />
insurance, deposits, investments, TV and internet. It cooperates with different banks and does the mediation<br />
such as sending and receiving the papers for the ink signatures of the customers (Mandatory in Indonesia). It is a<br />
part of the Compare 88 Group which operates in Indonesia and Philippines.As of Oct 2015.<br />
KreditGoGo [Jakarta, 2013]: KreditGoGo is a platform that helps its users compare and apply for financial<br />
products. The site has personal loans, car credits, mortgages, credit cards, and health insurance from around 27<br />
financial service institutions.<br />
Aggregator<br />
Aggregator<br />
Aggregator<br />
Compare88 [Jakarta, 2014]: Based in Indonesia, Compare88 helps customers make personal finance choices<br />
by comparing financial products like insurance, loans etc and facilitating online applications. It also helps banks,<br />
insurers, and micro-banks grow their distribution channels, and acquire new customers by hosting their products<br />
online. It owns 2 brands, Cekaja.com, for Indonesians, it helps the user make financial decisions comparing<br />
prducts online and eCompareMo.com, to help users in Philippines to take loans online from various lenders.<br />
Compare Hero [Kuala Lumpur, 2013]: Based in Malaysia, Comparehero is an online platform to compare<br />
different financial products such as loans, credit cards, insurances and also broadband plans. Being founded by<br />
the Compareasia's founder Gerald Elder, It is a subsidiary to Compareasia in Malaysia. The competitors in<br />
Malaysia are iMoney and loanstreet. The revenue model is to take money from the partnered financial<br />
organisations for their listings and recommendations to the end users.<br />
Monk's Hill Ventures<br />
Aggregator<br />
Bookmybank [Noida, 2015]: Online marketplace platform for instant customised rate quotes on various types of<br />
loans, credit cards. Users can check for their eligibility to get loans or credit card registration. Customers can<br />
shop for various financial products from multiple banks on real time basis and do self risk assessment at the<br />
same time. Part of VR-Fin-Technosoft Pvt Ltd.<br />
193<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (37/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
LoanAdda [Delhi, 2015]: LoanAdda is an online aggregation platform which helps users browse and compare<br />
between home loans, loan against property, working capital loans and business loans. They have a Loan EMI<br />
and eligibility calculators to help users find perfect loan across different categories. They also have a mobile<br />
application. Claims to have done INR 170Cr loans from May 2015 and has partnered with about 40 banks and<br />
NBFC’s.<br />
Aggregator<br />
Loan Magik [Mumbai, 2015]: LoanMagik is aims to address the challenges for both, the customer and the<br />
lender in the mortgage and SME space, such as of unguided eligibility with the use of the profiler tool that helps<br />
the customer understand their loan eligibility. This customer data is then used to generate the detailed profile<br />
report which is shared with the lender as a pre-qualified lead. They have partnered with Axis Bank, HDFC Bank,<br />
SBI, LIC etc.<br />
Loanwalle [Delhi, 2015]: Loanwalle acts as a lead generator to banks. Offers personal loan, business loan,<br />
home loan and car loan comparison across most of the major banks. Also offers credit card comparison.<br />
Aggregator<br />
Aggregator<br />
Quikrupee.com [Chennai, 2015]: Quikrupee.com is an online financial portal catering to the SMEs and<br />
consumers. They aim to ease the process of availing credit from banks and financial institutions by automating a<br />
part of the process. It offers complete documentation support and hand-holding from application stage to<br />
disbursal of the required facility.<br />
Borrow Me [London, 2015]: Borrow me is a free online loan finding service that helps people find the personal<br />
loans suited to their needs.<br />
Aggregator<br />
194<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (38/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Aggregator<br />
Landmark Cash [Los Angeles, 2012]: Landmark cash is an online platform that allows individuals to apply for<br />
Payday loans. After the submission of application, borrowers are automatically directed to the lenders to cater the<br />
people with bad credit.<br />
LendingTree [Charlotte, 1996]: LendingTree, LLC is an online lending exchange, providing a marketplace that<br />
connects consumers with multiple lenders that compete for their business. LendingTree provides access to<br />
lenders offering mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans and<br />
credit cards. Launched in 1998 with headquarters in Charlotte, N.C., LendingTree also owns and operates<br />
LendingTree Loans sm, GetSmart.com, and HomeLoanCenter.com. The company went public in February, 2000<br />
and was acquired by IAC in 2003.<br />
Loanstreet [Kuala Lumpur, 2012]: Loanstreet is an independent Malaysian loan comparison website which<br />
also provides independent loan advisory service free of charge. Loanstreet makes it easy to compare all<br />
available options and know the borrowing eligibility before applying for a loan. With a single application<br />
customers can get offers from multiple banks.<br />
Aggregator<br />
Banlinea [Bogota, 2011]: Banlinea is a financial products comparison website. The products on the website<br />
include mortgage credit, car credit, credit cards,student loans, insurance.<br />
Aggregator<br />
elMejorTrato [ , 2008]: ElMejorTrato.com is a Argentina-based website specialized in comparison of financial<br />
products for individuals. Financial products are featured in elMejorTrato.com include personal loans, mortgage<br />
loans, credit cards, debit cards and time deposits.<br />
Aggregator<br />
195<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (39/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
CompareKing Group [Warsaw, 2014]: CompareKing is an online marketplace for competitive loan offers.<br />
Consumers can apply for secured and unsecured loans and receive multiple offers from lenders buy submitting<br />
single application.<br />
Hipos [Mexico, 2011]: Hipos.com is a web portal, specialized in mortgage financing, that provides online tools in<br />
which loans can be simulated and compared, and generates relevant information to enhance educated decisions.<br />
It originates mortgages as broker, directly or though third-parties, for our users.<br />
Aggregator<br />
Lend Me [Manila, 2015]: Lendme is an online platform to submit a loan application to different lenders/ lending<br />
companies. Partnering with different financing companies and lenders, Lendme provides its customer the<br />
suitable lender based on his requirements such as collateral willing to provide, interest rates and income range.<br />
Aggregator<br />
Aggregator<br />
MyBankersOnline [Karachi, 2010]: MyBankersOnline is a platform where consumers can access knowledge<br />
pertaining to all banking products viz. credit cards, loans, savings, personal loan, term deposits, car financing,<br />
home loans. It offers set of tools and calculators to gain clarity of their needs and a one-stop portal enriched with<br />
financial news and guidance to manage their wealth and finances.<br />
Lendia [Bucharest, 2014]: Lendia is an online lending marketplace for consumer offering loans of up to RON<br />
130,000 for a loan tenure of 1-5 years. The platform forwards a unified application, filled by the borrower, to the<br />
partner banks which then provide the quotes to the consumer for the loans.<br />
Aggregator<br />
196<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (40/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
MoneyMarket [Palo Alto, 2015]: MoneyMarket is a aggregator website, giving borrowers a huge choice of<br />
lenders. The loans categories include personal, mortgage and student loans. They offer their service free of<br />
charge to the borrowers because they have partnerships with the companies on their platform.<br />
Aggregator<br />
LendersBox [Miami, 2015]: LendersBox is a free business tool enabling small business owners to access credit<br />
fast, secure and completely free of charge. Its business model is based on advertising and sponsorship revenue<br />
paid by lenders. The entrepreneurs apply on the platform by providing their financial data. The platform assesses<br />
their business eligibility and matches them to the lender with the best repayment rates and terms. The borrower<br />
can then select the offer and receive funds.<br />
Lend Me [Perth, 2013]: Lend Me is an online marketplace for consumer loans including home loans and car<br />
loans. It helps search for loans upwards of $5000, from a range of loans providers including smaller lenders to<br />
banks.<br />
Aggregator<br />
Haven Investor [Los Angeles, 2015]: Haven Investor is an online lending marketplace for alternative financing.<br />
It offers P2P lending for businesses, individuals, property, invoice discounting, crowdfunding for startups and<br />
offshore investment opportunities.<br />
Aggregator<br />
Aggregator<br />
Bizfi [New York City, 2015]: Bizfi is an aggregator platform that offers businesses the optimal options from<br />
various available products in the credit market. From application, to customizing results, to support and e-signing<br />
a contract, the platform has automated the entire process for the consumer. Bizfi is owned by the alternative<br />
finance leader Merchant Cash and Capital, a group that has originated over $1 billion in loans.<br />
197<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (41/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
FUNDING XCHANGE [London, 2014]: Funding Xchange provides an online lead generation platform for<br />
business loans. It provides a single application which can enable borrowers apply for business loans to multiple<br />
lenders. It offers various financing products such as fast business cash, unsecured business loans, secured<br />
business loans, overdrafts, invoice finance, and merchant funding. It has partnered with multiple lenders to<br />
originate and disburse loans.<br />
BorrowBuddi [New York City, 2014]: BorrowBuddi is an online lead generation platform for personal loans. The<br />
company has partnered with lending platforms such as Lending Club, Prosper, UpStart, Earnest and Circle Back<br />
Lending and provides a comparison of interest rates amongst the partner lenders.<br />
Aggregator<br />
LogicFI [Nashville, 2013]: LogicFi provides a turnkey lending and decision platform to banks and other financial<br />
institutions which are willing to invest on lending marketplaces. The platform provides application for the<br />
borrowers (automates customer experience), underwriting and decisioning, document management and a<br />
marketplace for lending.<br />
Aggregator<br />
Aggregator<br />
Fundastic [Palo Alto, ]: Fundastic provides an online lead generation platform for business loans. it has<br />
currently tied up with some of other financing providers including SmartBiz, lending Club, Funding Circle.<br />
Dealstruck, Fundation and Creditera. It shows a search option where borrowers can look for business loans and<br />
filter by criteria such as funding timeline, repayment tenor and collateral requirements.<br />
Aggregator<br />
LenCred [Bentonville, 2001]: LenCred specializes in providing unsecured credit lines to businesses. SOme of<br />
its loan products are Business Credit Lines, SBA loans, Factoring, Equipment Financing, 401(k) Financing and<br />
ACH/MCA Financing. It provides an online platform where it matches the borrowers with the lenders based on<br />
borrower's credit profile and history.<br />
198<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (42/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Fundivo [New York City, ]: Fundivo provides an online platform to match business owners with lenders. The<br />
borrower creates an application on the platform and the algorithm of Fundivo matches the borrower with a<br />
potential lender. Once the borrower selects the loan offer, closing formalities are executed and loans are<br />
disbursed. Its loan products are suitable for a range of business including retail stores, restaurants, bakery shops,<br />
beauty salons, healthcare practices and grocery stores.<br />
Lendvious [New York City, 2011]: Lendivious provides an online lending marketplace that integrates different<br />
lending platforms for various types of loans such as personal loan and real estate loan. In addition, it also<br />
provides SnapInvest, an automated investment platform, and YieldMaster, a Cash Flow Analyzer to allow mature<br />
investors to test their analytics on hypothetical portfolio.<br />
Aggregator<br />
Touchpoint Lending [Washington D.C., 2014]: Touch Point Lending provides a platform to enable borrowers<br />
receive lending quotes from non-bank financing companies for business purposes such as expansion, inventory,<br />
payroll and acquisition. The company can facilitate bridge financing for up to $2M, Working Capital loans for up to<br />
$500,000 and Acquisition/expansion loans for up to $15M.<br />
Aggregator<br />
Aggregator<br />
Aggregator<br />
Grow Local Project [San Francisco, 2014]: Grow Local Project is a P2P lending platform focusing exclusively<br />
on backing small business owners. It provides fixed rate loans of up to $300,000 for a tenure between - years.<br />
The loans are provided through Lending Club and originated by Web Bank. It provides business loans for<br />
expanding to new locations, acquire additional inventory, make physical improvements to their stores and pay off<br />
high interest debt.<br />
Onelyst [Singapore, 2014]: Onelyst is an online loan comparison platform for alternative lending in Singapore.<br />
Consumers can compare and select loan offers from licensed moneylenders across a range of loan products.<br />
The user receives up to 10 offers from various moneylenders on the platform after completing the online<br />
application. He/she can then decide to accept the preferred offer or reject the all the offers. After acceptance the<br />
user receives an approval in principle (AIP) from a licensed lender and the rest of the formalities are done at the<br />
lender's branch.<br />
199<br />
Alternative Lending Report, December 2015
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Enablers (43/43)<br />
Company Details Funding Investors<br />
Aggregator<br />
Connect Lending [Chicago, 2011]: Connect Lending is a platform that connects business owners and lenders<br />
to facilitate business loans. It has a proprietary algorithm matches borrowers, based on an application, to up to 5<br />
investors who are looking to invest in similar companies. It offers commercial real estate loans, asset based<br />
loans, factoring, equipment loans, merchant cash advance, start-up financing, acquisition financing, franchise<br />
financing, healthcare financing, SBA financing, and Working Capital.<br />
LendTech Group [Toronto, 2014]: LendTech develops turnkey solutions for lending platform including<br />
automated lead generation, portfolio management and digital marketing on a mobile and web-optimized platform.<br />
Its main product is Storefront Platform which provides end-to-end lead generation and management solution for<br />
storefront lenders. The platform generates, qualifies, and manages local/national web-based leads in real-time<br />
and helps target leads by state, zip code, age, income, employment type, pay frequency, payment method, bank<br />
account type and loan amount. It also integrates reporting options that analyse a lender's campaign's key<br />
performance indicators, send SMS and email alerts, and includes tiered pricing models and support ticketing<br />
system..<br />
Aggregator<br />
LendingStandard [Kansas City, 2013]: Lending Standard provides business process solutions, like loan<br />
origination and underwriting, to commercial lending and leasing firms. It allows financial institutions to request,<br />
receive, edit and collaborate on all the information and documentation required to close a niche loan and helps to<br />
simplify information gathering and sharing and accessing loan information by integrating with the system at key<br />
points like application, approval, processing and closing of loan. Lending Standard was incubated by SixThirty<br />
FinTech Accelerator.<br />
Aggregator<br />
200<br />
Alternative Lending Report, December 2015
White-label Platform (1/2)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
Insikt [San Francisco, 2012]: Insikt is a US based provider of "Lending-as-a-service" platform for online lending<br />
businesses. It offers white label loan origination and investment platform that enables any brand to lend to its<br />
customers and accredited investors to invest in consumer loan portfolios. Its Lendify platforms lets companies<br />
build their own online lending business and provide services like credit and risk check, loan funding and debt<br />
service and collections. It also offers investment services like grouping of loans based on their credit score, debt<br />
securitisation and borrower collection and payments on the basis of loans' seniority.<br />
Mirador Financial [Portland, 2014]: Mirador Financial offers a cloud based, white label "lending as a service"<br />
(LaaS) solution that allows companies to start their own lending platforms. Its solutions are useful for a variety of<br />
institutions including Banks, Credit Unions, Non-Profits and Specialty Lenders. Its platform consists of various<br />
modules such as Instaforms (electronic application form), APIs (send application data, receive loan pricing and<br />
application packages), Risk Tiered Rates, Daashboard (includes portfolio compliance monitoring, loan auditing,<br />
portfolio risk monitoring) and Decision Intelligence (algorithm based underwriting).<br />
Madiston [Surrey, ]: Madiston Plc provides softwares to companies wanting to launch marketplace lending. Its<br />
softwares include various modules like loan origination, bidding tools, matching tools, loan servicing and<br />
information system. It also offers its crowdfunding engine which includes features such as security control,<br />
customer database management, interfaces for payment systems and credit referencing, automated transaction<br />
processing and loan reporting.<br />
$25.5M<br />
$3.1M<br />
Accelerator Ventures, Investment<br />
AB Kinnevik, Peterson Partners,<br />
FirstMark Capital, Revolution<br />
Ventures, Atalaya Capital,<br />
Revolution LLC<br />
Collaborative Fund, Crosslink<br />
Capital, Vesta Corporation<br />
Zen Fin Tech [ , 2015]: Zen Fin Tech provides a white label platform to companies that want to extend financing<br />
services over a mobile app. Its app, which is connected via API with the main server, can be branded by lenders<br />
as per their preferences and offered to consumers.<br />
Crowd Valley [San Francisco, 2012]: Crowd Valley offers digital back-office suites for lending and online<br />
investing to financial industry. Its applications consist of Brokers, Private Equity and VCs, Private and Public<br />
Trading, Real Estate, Crowdfunding, P2P Lending and Wealth Management. Its API provides native support for<br />
third-party services and products including those for AML and KYC, ID Verification, Investor Accreditation, Credit<br />
Scoring, Escrow, Payment and Research.<br />
201<br />
Alternative Lending Report, December 2015
White-label Platform (2/2)<br />
Consumer Loans Business Loans Alternate Financing Enablers White-label Platform<br />
Company Details Funding Investors<br />
QCash Financial, LLC [Seattle, 2015]: QCash offers an omni-channel software-as-a-service application that<br />
interfaces with the core financial and banking system of an institution and enables the financial institutions offer<br />
instant approval, short term credit and small-dollar loans to their borrowers. It offers two products: QCash and<br />
QCash Plus. QCash is a fee-based short-term small-dollar loan. QCash Plus is an interest-based, higher-balance<br />
short-term loan. The platform connects securely through the cloud to the credit union’s core banking platform to<br />
retrieve member relationship, behavioral attributes and all information required for instant underwriting,<br />
decisioning and funding.<br />
FundersCloud [Los Angeles, 2011]: FundersCloud provides a turnkey, fully automated platform to lenders<br />
involved in merchant cash advance. Its white label platform enables lenders to import and manage the deals with<br />
CRM, choose whether employees are originators or closers, set their commissions, closing fees etc.<br />
White Label Finance Solutions [Christchurch, 2012]: White Label Financial Solutions offers solutions for<br />
online financial products and lending platforms. It provides out of the box solutions including white label payday<br />
loan website, white label guarantor loans website, white label peer to peer loans website, white label unsecured<br />
loan website.<br />
Profile Software [London, 1990]: Profile Software provides host of software solutions for banking and financial<br />
industry. Its product suite offers solutions for various use cases such as Banking (core banking, Islamic banking),<br />
Wealth Management (IAMs, asset management, fund management), Insurance, Risk and Compliance, Capital<br />
Markets (algo trading, mobile data feed) and Marketplace Lending (P2P lending, alternative financing). It has<br />
offices in Geneva, Dubai, London, Singapore, Athens and Nicosia<br />
202<br />
Alternative Lending Report, December 2015
Team<br />
Surinderjit Kaur Bhatti<br />
Analyst – Fintech<br />
Sahil Malhotra<br />
Lead Analyst – Fintech<br />
203<br />
Alternative Lending Report, December 2015
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Alternative Lending Report, December 2015
Who are we?<br />
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Founded by ex-VCs, we are building the largest team of Analysts for tracking<br />
startups by Markets & Sectors<br />
Alternative Lending Report, December 2015
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Alternative Lending Report, December 2015
Pricing<br />
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Alternative Lending Report, December 2015
Founders<br />
Neha Singh<br />
IIT Bombay, Stanford GSB,<br />
BCG, Sequoia Capital<br />
Abhishek Goyal<br />
IIT Kanpur, Yahoo, Amazon,<br />
Accel Partners<br />
Alternative Lending Report, December 2015
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