Lending Marketplace Blackmoon Expands to U.S. Seeking Growth
- Russian-founded fintech startup screens, prices, sells loans
- Company targets consumer, small-business and student debt
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Blackmoon, a Russian financial technology startup that analyzes, screens and prices loans issued by others to sell on to investors, is opening a U.S. office to expand in the world’s biggest market for non-bank lending.
Borrowing money without banks as intermediaries has gained popularity in recent years. LendingClub Corp. and Prosper Marketplace Inc. doubled their issued loan volume last year to over $10 billion. While they provide loans for the purpose of selling them on to investors, so-called balance-sheet lenders originate debt to keep the loans and earn income from interest. Blackmoon seeks to connect balance-sheet lenders with debt investors.