Congrats to our client Marlette Funding
As I wrote recently, there’s a whole bunch of fascinating innovation right now in the financial services sector. Online platforms such as Kickstarter, Prosper, and Lending Club have created revolutionary new funding models.
For the past year Tivix has been working under the cloak of secrecy with an East Coast company (Marlette Funding) to build what we believe is the most powerful platform ever for matching-up investors and borrowers. I’m pleased to announce that it is now launched and live, under the brand name Best Egg – and it’s already processed over $450 million in loans originated.
For consumers, Best Egg offers smarter, better unsecured loans with lower rates. Get out from under credit card debt, and get a low fixed rate with an easy online application, approval, and funding process.
For institutions and investment managers, Best Egg offers a platform where they can deploy capital and get better risk-adjusted returns than with many other asset classes. Retail banks are essentially cut out of the equation.
As Bloomberg Business reported this week, the Best Egg platform has better market velocity than either Prosper or Lending Club did at the time of their launch.
The software we have developed is pretty sophisticated stuff. I can’t go into too much detail here, but Tivix team members Peter Shafer, Mateusz Sikora, Meghan Neff, Rafal Krupinski, Tan Nguyen, Rex Riepe, and Michael Bethencourt have been completely immersed in this project and should be very proud of what they’ve helped to create.
At this pace the Best Egg platform will pass the one billion dollar threshold later this year (extrapolating the Bloomberg numbers). That’s absolutely staggering market adoption, only a few months from launch. Congrats to the entire team.