Aspire is pleased to announce today that the Aspire Gateway TM platform has gone live in the past week with the activation of both Originator and Investor Databases.
As the first step in the Beta release of the Gateway platform, Aspire is targeting a focus on providing "Access" for both Alternative Lending Originators, and Institutional Investors to view and learn more about one another. The Database launch sees in excess of 25 initial institutional participants, representing several $Bns of 2016 Origination supply and Investor demand. With this, Aspire is now moving to realize on the objective of creating a network of participants in the Alternative Lending space, and delivering high-quality data and technology solutions to them.
Initial Originator participants include US Alternative Lenders such as Marlette, Pave and IOU Financial and Canadian Alternative Lenders Financeit, Lendified and Progressa. Origination verticals represented include a wide range of Consumer and Business and business lending, both secured and unsecured.
The Investor Database includes a diverse range of US and Canadian generalist and specialist credit and fixed income Investors, with $Bns of appetite for Alternative Lending assets. We anticipate that the Investor Database will also continue to grow given the supply potential that is now represented in Gateway, and the incremental Originator participation we continue to see on a weekly basis.
In addition to the Database release, Aspire is also now in discussions with several of the Originator Database participants for "Data Partnerships", which will involve Aspire uploading loan origination and performance data on thousands of consumer and business loans . This then enables the Gateway platform to create detailed Originator Profiles and Analytics, and thereafter all of the workflow and reporting tools to manage loan funding processes for both Originators and Investors. Over the next few weeks, we anticipate announcing a number of these partnerships.
Aspire Financial Technologies Inc.