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Loanio and TrustedID Round Out FinovateStartup Lineup

By Jim Bruene on March 20, 2008 5:22 PM | 0 Comments

Link to FinovateStartup After scouring the far corners of the Web, we've maxed out the demo lineup at our upcoming FinovateStartup conference April 29 in San Francisco.

The last two companies we can name are Loanio and TrustedID. A handful of other presenters are keeping their names under wraps for now and will be released as the event gets closer. (Have a startup? See note below.

 image   image

So there you have it. Forty companies putting their futures on the line showing the gathered bankers, VCs, tech execs, press and bloggers why they are the "next big thing" in financial services. You can still save $100 by registering in March here

FinovateStartup lineup

Note to press, analysts and industry bloggers: We have a limited number of press passes available. Please contact Jim Bruene (jim@netbanker.com) as soon as possible to request one.   

Note to startups: Even though the demo lineup is full, we expect one or two presenters will slip their launch dates, so we are building a wait list. Contact Eric Mattson (mattson@netbanker.com) for more information.

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Categories: Finovate, Loanio

Congestion at the Starting Gate? Three New U.S. P2P Lenders Set to Launch: Zopa, GlobeFunder, and Loanio

By Jim Bruene on November 28, 2007 10:59 AM | 8 Comments

Less that two years after the first P2P launched in the U.S., it looks like we'll soon have at least five companies chasing this new market, six if you include Virgin Money.

The most well known is Zopa, the person-to-person lending pioneer which opened in the UK in 2005 and now has nearly 200,000 members. Its long-awaited U.S. launch is scheduled for next week. I'll be speaking with marketing director Wade Lagrone tomorrow, but Jane Kim broke the news in today's Wall Street Journal (here). The market forecast in the article, predicting as much as $9 billion in P2P originations by 2017, is from our upcoming Online Banking Report on P2P lending (note 1). 

Zopa is working with six credit unions, including FORUM Credit Union, to match lenders with borrowers. And unlike other P2P lenders, Zopa's is guaranteeing the lender's principal. That will reduce potential returns, but make participation more like buying a CD from a bank. So, it will be interesting to see how the company differentiates its offering from traditional bank/credit union fare. We'll have more when the site opens to the public next week.

        

We also hear that GlobeFunder and Loanio are about to launch, possibly yet this year. Loanio has not revealed its strategy, but GlobeFunder is positioning itself as a microlender in the same vein as the Nobel prize-winning approach of Grameen Bank. For more info, read the GlobeFunder blog.  

All three will be included in our upcoming Online Banking Report (note 1). We'll also look at Prosper, Lending Club, LoanBack, and Virgin Money (formerly Circle Lending).

Note:

1. Online Banking Report subscribers will have access to the report as soon as it is published on Dec. 8. Nonsubscribers can put their name on the announcement list here and receive a prepublication discount code to save 10%. Please mention "P2P report" in the subject line.

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New Person-to-Person Lender Loanio Readies for Launch

By Jim Bruene on June 1, 2007 9:29 AM | 7 Comments

Just as the dust was clearing from the latest social lending launch, Lending Club, which opened on Facebook exactly one week ago (coverage here), we received word of another P2P lending exchange Loanio. The founder is revealing little about the new company at this point, but you can see from its logo and tagline, People Lending to People, what market it has its eyes on. 

Loanio's one-page website allows you to enter your email address for future notifications. We'll be covering all six North American P2P lenders (see note) in an upcoming update to last year's Online Banking Report on the market for P2P loans. (Hint: we will publish a longer-term forecast which will show more robust opportunities past the 2006-2011 period we looked at in our last report.)  

Note:

Right now the North American market consists of five pure P2P lenders:

  • Prosper (US, launched Feb. 2006)
  • Zopa (UK, but coming to the US in 2007)
  • Lending Club (US, launched 25 May, 2007)
  • Community Lend (Canada, not launched)
  • Loanio (US, not launched)

Plus, P2P loan servicer:

  • CircleLending (now owned by Virgin USA, launched 2001)
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