Bank Sinarmas has tied up with fintech startups Dimo and Cashlez, P2P lending platform Investree announced partnership with Bank Danamon, while Mandiri Sekuritas launched new feature in a bid to expand digital services. Sinarmas-Dimo-Cashlez Sinarmas Group’s bank unit has announced cooperation with digital payment startups Cashlez Worldwide Indonesia and Dimo Pay… Read more »
By Nguyen Thi Bich Ngoc
Vietnamese P2P lending startup Tima has closed a US dollar 7-figure series A funding from a Singapore fund to accelerate service growth in the local market, a senior executive of the company told this portal.
But many larger P2P companies including Lufax, Yirendai, PPDAI and Dianrong.com, say they already comply with many of the new requirements, so could benefit from the restrictions.
RBI said it would be “prudent” to regulate the business because of “the impact it can have on traditional banking channels” and NBFCs and its “potential to disrupt the financial sector and throw up surprises”.
It outlines stricter rules for peer-to-peer (P2P) platforms, where lending quadrupled last year to 440 billion yuan ($67 billion), according to Citigroup research, forbidding them from holding clients’ capital in-house.
Noida-based RNVP Technology Pvt. Ltd, which operates the online peer-to-peer (P2P) lending portal i2ifunding, has raised an undisclosed amount in funding from a group of angel investors.
PT Mitrausaha Indonesia Group has launched a community Modalku which is facilitates peer-to-peer lending and funding platforms for borrowers and lenders. According to Reynold Wijaya, chief executive and co-founder of Modalku, he had developed the platform, as a gathering place for borrowers and financiers. “Modalku is a direct platform or borrowing market place (peer-to-peer lending/P2P) in… Read more »
Singapore-based financial services firm Silver Bullion Pte. Ltd. has seen its bullion-secured peer-to-peer (P2P) lending programme, launched in August 2015, disburse over S$5 million ($3.51 million) worth of loans, or more than S$1 million ($702,000) a month since its launch. The firm was founded in 2009 by CEO Gregor Gregersen, Vergel Villasoto, a… Read more »
Lending transactions via China’s peer-to-peer (P2P) platforms reached 982.3 billion yuan ($151 billion) in 2015, according to a report released by Wangdaizhijia.com, a mainland Chinese internet financial services web portal. This is a 288.6 per cent increase from the 252.8 billion yuan ($38.77 billion) in 2014, with mainland Chinese P2P lending platforms brokering… Read more »
In the past three years, global investors have plowed more than $10 billion into India’s consumer internet companies, fueling a boom in startups that create apps