17 December 2017
visit http://response.ncr.com

PayPal invests in LendUp

29 June 2017  |  7244 views  |  0 PayPal logo

PayPal has made a strategic investment in LendUp, an online lender targeting Americans that are generally considered too risky by traditional banks. Terms of the deal were not disclosed.

Founded in 2012, LendUp uses technology and data to bringing lending to the millions of Americans it says are part of the "emerging middle class" that traditional providers ignore.

Sasha Orloff, CEO, LendUp, says: "We're building our own technology to create new financial products and experiences for the 56% of Americans shut out of mainstream banking due to poor credit or income volatility - right on a mobile phone.

"We're thrilled to count PayPal among our esteemed investors, and look forward to leveraging their insights as we continue to build a multi-product company."

LendUp has also added former LendingClub CFO Carrie Dolan as a board advisor and beefed up its management team with former PayPal staffer Mandeep Walia, ex-Lending Club exec Jordan Olivier, and PwC and Schwab veteran Karry Bryan.

Says Dolan: "I'm thrilled to become a board advisor to LendUp. I'm impressed with the company's dedication to the mission of expanding credit access, lowering the cost of credit and improving financial health for people who need it most."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

PayPal brings instant bank transfers to Venmo

PayPal brings instant bank transfers to Venmo

20 June 2017  |  8007 views  |  0 comments | 17 tweets | 20 linkedin
PayPal launches Business in a Box service for SMBs

PayPal launches Business in a Box service for SMBs

01 May 2017  |  9193 views  |  1 comments | 18 tweets | 11 linkedin
PayPal forges mobile payments deal with Google

PayPal forges mobile payments deal with Google

18 April 2017  |  9633 views  |  0 comments | 19 tweets | 22 linkedin

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.thomsonreuters.infovisit www.atos.net

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10661 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
10310 views comments | 18 tweets | 36 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
7731 views comments | 10 tweets | 10 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7362 views comments | 19 tweets | 22 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6784 views 0 | 4 tweets | 2 linkedin

Featured job

Find your next job