September News Summary: Alternative Lending is Growing Massively

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Backed with another $150 Million

2015 is absolutely the best year for the alternative lending industry, and looks like September is one of the best months. With several great validations that this world is here to stay and about to make massive changes and a great impact on the financial world.

September started with Avant announcing that they had raised $325 million in new equity funding at around a $2 billion valuation, from such firms as General Atlantic and J.P. Morgan

24 hours later Sofi the US-based student loans comes out with an update that smells like pre-IPO plans that they raised an E round with a valuation of $4B, only 4 years after launching.

CommonBond probably Sofi’s biggest competitor, backed with another $150 Million Investment From Nelnet early September.

Another interesting merge is between BillGuard and the leading alternative lender Prosper.

For us at Finimpact – these developments and news are just additional proof to what we already know – alternative lending is only starting. When a service or a product really solves a substantial problem, by using an efficient, cost-effective solution in a market with an ongoing demand and a real need – it is definitely here to stay.