Lending Club

Lending Club

lending | p2p lending
website linkedin address
  • FOUNDING YEAR: 2007
    LOCATION:
    United States
    REGION:
    California
    Last Update:
    24 Dec, 2019
    Phone:
    +1 415-632-5600

Description

Lending Club is an online credit marketplace, facilitating personal loans, business loans, and financing for elective medical procedures. It enables borrowers to access lower interest rate loans through a fast and easy online or mobile interface. Investors provide the capital to enable many of the loans in exchange for earning interest. In Apr 2014, It acquired Springstone for $140M in cash & stock. It was named one of Forbes' America's Most Promising Companies three years in a row
Lending Club operates an online credit marketplace where investors provide loans to creditworthy borrowers in exchange for the interest income.

FOCUS

PRODUCTS & SERVICES:
Costumer loans, Business Loans. Provides loans at a very low rate when compared to banks. Investors - Better return from the diversified portfolio of loans.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Guild Staging & design.
EXISTING PARTNERSHIPS:
Citi bank, HomeAdvisor, BancAlliance, Alibaba, Google, CreditKarma, MileagePlus, YNAB, Quizzle, etc. To provide affordable loans to consumers, lending club has strategic partnership with banks.
COMMENT
No prepayment penalty, fast processing of the loans when compared to traditional banks. The online system and sound technology help the company lower the cost of credit and pass the savings back in the form of lower rates for borrowers and solid returns for investors.

PEOPLE

FOUNDERS:
Renaud Laplanche, John Donovan
Board Members and Advisors:
Michael S. Barr, Jeff Huber, Alex W. "Pete" Hart, Gary Briggs, Christopher D Thom, Brian M. Barefoot, John Furjanic, Dr. Walter Kuemmerle, Soul Htite, Renaud Laplanche, John Mack, Mary Meeker, Hans Morris, Lawrence H. Summers, Simon Williams, Daniel T. Ciporin, Jeff Crowe
NUMBER OF EMPLOYEES:
501-1000
INVESTORS:
Flint Capital,Coatue Management,BlackRock,Sands Capital Ventures,DST Global,FinSight Ventures,T. Rowe Price,Union Square Ventures,Thomvest Ventures,Foundation Capital,Norwest Venture Partners - NVP,Canaan Partners,Gold Hill Capital,Google Capital,Kleiner Perkins Caufield & Byers,Morgenthaler Ventures,Amidzad Partners,Silicon Valley Bank
KEY EMPLOYEES:
Scott Sanborn (Chief Executive Officer), Ashley Sun (Senior Software Engineer), Steve Allocca (President), Patrick Dunne (Chief Capital Officer), Angela Loeffler (Chief People Officer), Tim Bogan (Chief Risk Officer), Raman Suri (Senior Vice President), Jeff Andrews (Vice President of Strategic Partnerships), Richard Southwick (Chief Technology Officer), Valerie Kay (Senior Vice President & Head of Institutional Investors), Rajat Agarwal (Senior Director, Investor Analytics), Tom Casey (Chief Financial Officer), Russ Elmer (General Counsel), Rob Schoening (VP, Operations), Gautam Gupta (Software Architect), Richard H. Neiman (Head of Regulatory & Government Affairs), Sophie Wang (Risk Analyst)

TRACTION

VALUATION / MARKET CAP:
$8.5 Billions in 2015
NUMBER OF TRANSACTIONS:
290 K
TRANSACTIONS VALUE:
$3.5 Billions
ACTIVE USERS:
0.1300
COMMENT:
Lending Club has joined the Millennium Alternative Investment Network (MAIN) expanding access for investors and advisers who may now quickly and easily build a diversified portfolio of Lending Club loans.

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$160.23 Millions
SEED & PRIOR FUNDING:
$2 Millions
FUNDING SERIES:
SERIES A
$10.26 Millions Closed: Aug 2007
SERIES B
$12 Million Closed: Mar 2009
SERIES C
$24.5 Millions Closed: Apr 2010
SERIES D
$25 Millions Closed: Aug 2011
Secondary Market
$182 Million Closed: Nov 2013
Others
$86.47 Millions Closed: Aug 2014
DEBT FUNDING:
$50 Millions
LISTED:
YES

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