There will be a couple of posts, at least here.  First few will be meeting notes based on what I took from a few of the excellent speakers.  Then I will do one with some analysis. My Take:  Very clear description of the Prosper model.  Prosper brings a combination of the advantages of traditional community markets with capital markets.  Investments as a security class are coming. Open access to consumer credit in a real world fashion, with inherent loyalty that traditional markets (Banks) can never achieve because of the shame (engagement?) factors. Chris Larsen – Prosper: Web 1.0 – Command … Continue reading NetFinance2007 – meeting notes – Prosper

 Just got this email update.  Zopa have upgraded their US launch from California only to all of US.  No dates yet, but clearly something is going on!  This news copied from their email. They hint at some changes to their model too …  awaiting news on that change. You may recall that last time we dropped a note to Zopa members about launch efforts in the U.S., we were planning on launching in California first. That’s all changed. Since then, we’ve developed a way to start by launching nationally instead.  That’s great news for our friends in Iowa. As part … Continue reading Zopa | US Launch Update — Revving Up!

  Here is some background on a P2P lending startup in Germany.  The features are familiar, with one odd feature that the minimum bid is 500 Euros.  This is unusually high compared to the others in this space, and that will be interesting to see how that works out.  Possibly tied to that point, its not apparent there is any lender fee.   That would mean the revenue model would be based on borrower fees only. Startup Smava.de starts offering p2p lending in Germany. Anybody can lend or request a loan online. Borrowers, after registering will by checked for identity and credit … Continue reading Smava starts p2p lending in Germany

 Today is the day for Social Lenders to update their management teams.  Prosper follows with a new CMO and CFO. America’s first people-to-people lending marketplace, today announced the appointment of consumer financial services marketing veteran Robert Klapper to the position of Chief Marketing Officer, and finance and operating performance expert Kirk Inglis to the position of Chief Financial Officer. “These leadership appointments strengthen our management team and will help us continue to scale the marketplace and create a mass market for people-to-people lending,” said Chris Larsen, Co-Founder and Chief Executive Officer of Prosper. Source: Prosper Strengthens Management Team   Technorati tags: … Continue reading Prosper Strengthens Management Team

 Dolton, the new global CEO for Zopa describes how he sees the environment, in an interview with Red Herring. Mr. Dolton ascribed the flurry of activity in online lending to several factors: increased comfort with electronic media among more people, greater transparency in lending rates across the country, and the rise of companies like eBay, which operate on trust. Source: RED HERRING | Bye-Bye Bankers? Still no dates given for the US entry however.  This is taking longer than expected, no doubt as a result of work associated with regulatory approvals in the various US jurisdictions. We obviously have a … Continue reading Rise of social lending attributed to increased comfort with internet, and online trust

Zopa continue to prepare for their US launch with an additional $12.9 million raised from Bessemer.  This is in addition to about $22 million (if I remember correctly) that they have raised so far.  Zopa will use the series c investment to fund the launch of the service in the US, as well as for the continued development and growth of operations in the UK. Source: Finextra: Zopa raises $12.9m in series c financing; names Dolton global CEO They have also announced a Global CEO, Douglas Dolton, who brings a background in unsecured landing to students (Chelea Education in San … Continue reading Finextra: Zopa raises $12.9m in series c financing; names Dolton global CEO