New York-based hedge fund Marathon Partners Equity Management LLC is actively pushing OnDeck Capital to reduce costs and reach profitability more aggressively than it has already outlined; the firm owns approximately 1.75% of the company's outstanding shares; Mario Cibelli is the primary spokesperson for Marathon Partners and says he contacted members of the board in March to urge for deeper cost reductions and analysis on a potential sale; it is likely that Marathon Partners could gain a board nomination from the discussions; OnDeck Capital could also see more involvement from hedge fund shareholder EJF Capital LLC which has said in public filings that it may also reach out to the company to discuss its future strategy. Source
As non bank lenders continue to gain market share across different loan segments, we wanted to give a complete overview...
Remine Raises $30M in Series A Funding Bank of England FMI Annual Report: The Growth of Fintech Continues to Have...
·
[Editor’s note: This is a guest post from Noah Breslow, CEO of OnDeck. OnDeck is a gold sponsor and will be in...
I reflect on ConsenSys acquiring a broker/dealer focused on municipal bonds, and why we believe that blockchain-native platforms are a fantastic fit for this $4 trillion asset class. Can direct holding of franctional munis enable deeper community participation and usage of common resources? Are there new sources of liquidity to unlock? At the same time, there are real dangers. I compare the evolution of digital lenders and their funding sources against the current possibilities in municipal bond markets. We also look into the reasons that some innovative Fintechs have failed to achieve their stated missions, and what can be learned and done better.
It has been an interesting to say the least as we have watched everything play out with the Paycheck Protection...
P2P lending fund cites legacy Zopa portfolio for lower returns Digitizing construction finance with Rabbet’s Will Mitchell AI Is Coming...
Fiserv unveils new digital mortgage product, giving credit unions a leg up With the $3 billion alternative data industry exploding,...
Welcome back to the Fintech Blueprint / Rebank podcast series hosted by Will Beeson and Lex Sokolin. In this episode, we talk through a few recent events that are indicative of the Fintech world right now. Brex raised an additional $150 million at a slightly improved valuation vs. its last round just as Monzo is reportedly looking at a 40% down round. Why? Shopify launched bank accounts for its merchants and announced the Shop app, basically an Amazon competitor plus Klarna, just as it worked with Facebook to support the launch of Facebook Shops and joined the Libra Association. Lots going on. Lastly, we discuss why Goldman’s M&A activity over the past couple years leads to the natural conclusion that they should buy Schwab.
The chart below shows the stock performance for Lending Club versus OnDeck since May 16, 2016, which is the day Lending Club's stock bottomed out after their CEO resigned; Lending Club is up 64% and OnDeck is up 8%; both companies have taken a hit this week after earnings, largely due to profit taking.