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Can Data Driven Lending Displace VC Funding For Some Firms?

PYMNTS

CircleUp entered the market in 2012 as a data driven variation on venture capital (VC) funding to solve for part of that problem in retail and consumer packaged goods (CPG) firms. CircleUp’s lending platform was founded in 2017 to fill that hole and has underwritten about $300 million in loans since then. The first is focus.

Lending 132
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Avant Brings SaaS Lending Tech To Banks

PYMNTS

Since its founding in 2012, the firm has specifically distinguished itself in a crowded field of tech-based underwriters, with its focus on the consumer group it calls the “underbanked middle class.”. This is the bank’s product backed up by our brand. The loans are guided by their credit policy, carried on their balance sheets.

Lending 134
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Affirm Launches New Features To Help Consumers Spend Responsibly

PYMNTS

When PayPal Co-founder Max Levchin launched Affirm in 2012, he had a specific target for disruption in mind: retailer-sponsored financing. Affirm’s flagship product — a point-of-sale (POS) installment lending solution focused on transparency — was created to take on that issue. “We If this person can’t afford this, we won’t lend.

Branding 158
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SMBs Ramp Up Legal Fight Against New Virgin Money Owner CYBG

PYMNTS

CYBG, which recently acquired Virgin Money with plans to ramp up small business lending, is facing a heightened legal challenge from small businesses accusing the institution of forcing some small firms into insolvency. The complaint alleges mistreatment of small business borrowers between 2001 and 2012.

Exercises 116
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Affirm Mobile App Takes Honest Finance To All Online Merchants

PYMNTS

Affirm was founded by Max Levchin in 2012 to help to remedy that merchant-consumer relationship by giving online shoppers an alternative to traditional credit cards and retailer-branded installment loans when shopping online. There’s a lot we want to do besides lending,” said Chou.

Online 129
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Fintech Hall of Fame: The Top Digital Innovations in Financial Services

Fintech Labs Insights

Innovations from 1995 to 2014 (with launch dates) Note: Ranking as of Jan 2014 Wells Fargo is first in the world to offer Web-statement access (launched May 1995) Security First Network Bank launches first full-service Internet bank brand (Oct 1995, disbanded 2002) PayPal launches first online optimized payment system (Nov 1999, bought by eBay in 2003) (..)

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UK Federation Of Small Businesses Says AltFin Is Just Heating Up

PYMNTS

Most recently, the FSB announced plans to join the alternative finance world and establish the FSB Funding Platform , a marketplace lending portal through which small businesses can access funding from more than 100 lenders. Stallon said that the FSB brand is likely to help, as is the FSB’s focus on simplicity for the end user.

Lending 122