Startup Spotlight: People Capital brings peer-to-peer lending to student loans
Editor’s note: VentureBeat has started a new series called “Startup Spotlight.” Every week, we’ll sift through the scores of companies applying to be promoted in this series and profile the best one. Companies can sign up here at the Entrepreneur Corner, which is currently sponsored by Microsoft. (Of course, we’re still interested in covering startup news and innovation in our day-to-day coverage.) Today, we continue the series with People Capital, below.
People Capital has entered… Continue Reading
Peer-to-peer lending site Prosper gets second wind in California
For the last six months, peer-to-peer lending service Prosper has suspended transactions while it waits for the Securities and Exchange Commission to approve its new system for online lending. But now, with the blessing of the California Department of Corporations, the company has legally resumed activity — as long as the lenders in question are located in the golden state (borrowers can be from anywhere in the U.S.)
Even as its future hinges on the SEC’s… Continue Reading
Roundup: Yahoo’s Euro head out, e-commerce down, and more
Hope you had a delicious Thanksgiving. Here’s proof the news machine never stops:
Yahoo’s European head says arrivederce – Toby Coppel, in charge of Yahoo’s Western European market, is out, according to All Things D.
But Icahn is buying — Billionaire investor Carl Icahn is circling the bleeding hulk that is Yahoo like a shark, having just bought up about $67 million more in company shares. He now holds about 5.5 percent of Yahoo.
E-commerce shrinks — Online sales need… Continue Reading
Roundup: Web data offers election insight, banks gets big bonuses and more
Here’s the latest action:
Web data offers new info on presidential election — It remains to be seen whether Barack Obama’s tremendous lead over John McCain in Facebook friends will lead to a similar victory on election day. Meanwhile, another study looks at which social networking sites are big in which swing states.
Google CEO stumping for Obama — Eric Schmidt says he’s speaking for himself, not Google, and that he has previously been an informal adviser to the… Continue Reading
Wonga, the fastest personal loan you can get
It’s a week until payday at your job, the rent and bills are due, and you don’t have the cash. What do you do? Wonga, which has just raised $6 million from Balderton Capital, wants you to come to them .
Based in the UK, Wonga has yet to launch. But when it does, it will offer nearly instantaneous loans ranging from £200-1000 (about $400-2000). The time between application and deposit is around 20 minutes, which… Continue Reading
Prosper raises $20M to assert lead in person-to-person loans
updated
San Francisco’s Prospser, which appears to have gained a leadership position in person-to-person lending, has raised $20 million in its third round of financing.
Prosper is one of three upstarts in the person-to-person lending market, where borrowers request loans and have ordinary people bid to finance them. The market is still relatively obscure, but its participants have ambitions of replacing banks as the de facto source for small-to-medium sized personal loans. It’s a multi-billion dollar dream.
Prosper, which… Continue Reading
Zopa raises $12.9M more to expand online lending marketplace
Zopa, an online marketplace where people meet to lend and borrow money for a fee, said it has raised $12.9 million to help it expand in the U.S, where if faces competition from Prosper.
The company said it appointed a new chief executive, Douglas H. Dolton, formerly CEO of Chela Education Financing.
The financing was led by Bessemer Venture Partners, an existing investor. Benchmark Capital and Wellington Partners also invested in the latest round. Benchmark has also… Continue Reading