Lending Club

Lending | P2P Lending

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619 VISITORS | 1897 VIEWS

FOUNDING YEAR: 2007

LOCATION:

United States

REGION:

California

Last Update:
9 Sep, 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

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:

$216 Millions

SEED & PRIOR FUNDING:

$127 Million

SEED CLOSED ON:

May 2013

SEED PRIOR FUNDING COMMENT:

Cumulative funding indicated

FUNDING SERIES:

SERIES A

$10.3 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

SERIES E

$17.5 Millions Closed: Jun 2012

LISTED:

YES

LATEST RESEARCH

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