The ongoing rationalization of the marketplace lending space still has a way to go, says Ryan Gilbert of Propel Venture Partners, who notes that “too many princes have wanted to be kings, and they will not all be successful.” The fact that OnDeck and Lending Club posted upbeat Q2 earnings this past
Read MoreLooking back, it’s hard to believe the skepticism in the online lending sector that greeted the arrival of Marcus, Goldman Sachs’ online retail lending arm. After a few growing pains, Marcus has hit its stride, benefiting greatly from a parental balance sheet that has no legacy credit card business or branch network to constrain lending.
Read MoreSoFi, which just disclosed that it has applied to the FDIC for an industrial loan charter in Utah, has indicated that it plans to hire up to 400 professionals in Delaware. Also this week, Dash Financial Technologies hired Goldman Sachs capital markets veteran Robert Boylan to head business development, while DefenseStorm added Steve Soukup as chief revenue officer.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
