Items Tagged with 'online lender'

ARTICLES

  • Real estate lending platform PeerStreet raises nearly $30 million

    Funding led by new investor World Innovation Lab
    PeerStreet, an online marketplace for real estate-backed loans, boasts some big names among its investors, including Silicon Valley venture capital firm Andreessen Horowitz and Michael Burry, one of the featured players in The Big Short. Now, PeerStreet is adding more names to its investor roster, as the company announced Thursday that it raised $29.5 million in its Series B round of funding.
    Read More
  • Former SoFi CEO Mike Cagney founds new lending startup, pivots to blockchain

    Figure will specialize in home equity lending
    After abruptly resigning from SoFi amid a swirling controversy about the workplace culture at the online lender, Mike Cagney has resurfaced… and he’s pivoting to blockchain. Cagney helped found a new lending startup called Figure, which will apparently be specializing in home equity lending with blockchain technology serving as a key component of the company’s business plan.
    Read More
  • Growing pains for SoFi? Online lender lays off mortgage staffers

    Cutting 5% of its total staff
    It appears that SoFi is suffering a bit of growing pains as it pushes to expand its mortgage lending operation.Last week, Bloomberg reported that SoFi was buying the engineering and product teams of Clara Lending, a mortgage startup founded in 2010. But as those new staffers come in, other staffers are being let go.
    Read More
  • SoFi pushing further into mortgages by acquiring tech teams from startup Clara Lending

    Bloomberg reports that SoFi wants to hire 100 engineers
    It’s been a little more than three years since SoFi expanded into mortgage lending, and while the company has since grown into one of the largest online residential mortgage retailers, it seems that’s not enough for SoFi. SoFi appears to be planning a larger push into mortgages, going so far as to buy some of the technology expertise of another mortgage lending startup.
    Read More
  • loanDepot unveils ambitions to expand beyond lending into entire real estate transaction

    Wants to connect approved homebuyers with real estate agents
    loanDepot is already one of the nation’s largest mortgage lenders, but now, the company wants to become a much larger part of the home buying process. On Tuesday, loanDepot unveiled an ambitious new plan that will see the lender expand beyond simply lending a borrower the money to buy a home into facilitating the entire real estate transaction.
    Read More
  • SoFi officially taps Twitter exec Anthony Noto to be new CEO

    Replaces Mike Cagney, who stepped down last year amid controversy
    SoFi has found its new leader. The online lender announced Tuesday morning that it selected Twitter Chief Operating Officer Anthony Noto to be the company’s new CEO. Noto replaces Mike Cagney, who abruptly resigned as CEO back in September with the company embroiled in controversy.
    Read More
  • SoFi reportedly wants Twitter COO Anthony Noto as its new CEO

    WSJ reports that online lender offered job to former Goldman Sachs banker
    It appears that SoFi thinks that Twitter Chief Operating Officer Anthony Noto is the right person to lead the online lender out of its recent rough patch. SoFi has been on the hunt for a new CEO following Mike Cagney's abrupt resignation back in September amid controversy.
    Read More
  • SoFi CEO Mike Cagney stepping down as company fights sexual harassment claims

    Cagney is also company’s co-founder, plans to step down by end of 2017
    For at least the second time this year, the CEO of a white-hot Silicon Valley startup is stepping down amid controversy. Earlier this year, Uber CEO Travis Kalanick stepped down as the company fought back against months of bad publicity and complaints about the company’s culture. And late Monday, San Francisco-based Social Finance, better known as SoFi, announced that its CEO and co-founder, Mike Cagney, plans to step down by the end of the year.
    Read More
  • Online mortgage lender Lenda raises $5.25 million to fund expansion

    Plans to expand beyond California, Oregon, and Washington
    Lenda, an online mortgage lender based in San Francisco, announced Monday that it closed its Series A round of funding, raising $5.25 million from a group of investors. In a release, the company said that it plans to use the money to fill “key” management positions, invest in improving its software platform, and expand beyond its current states of California, Oregon, and Washington.
    Read More
  • Lenders join together against SoFi banking move

    Urge Federal Deposit Insurance Corp. to reject application
    SoFi, an online lender, applied with the Federal Deposit Insurance Corp. for a special banking charter known as an industrial loan company, the first step toward becoming a bank. But the Independent Community Bankers of America is opposing the move.
    Read More