Lending-Club

  • Lessons From An Advertising Past Crunch Network

    Lessons From An Advertising Past

    The Lending Club IPO was a watershed moment for marketplace lending. One of the largest U.S. public Internet offerings ever, its success makes crystal clear that peer-to-peer lending is not only here to stay, but is poised to grow enormously. With this stamp of validation behind it, the next question is: What lies ahead for the future of marketplace lending? Read More

  • A Super Angel’s View On Venture Capital In 2015 Crunch Network

    A Super Angel’s View On Venture Capital In 2015

    As the first quarter of 2015 draws to a close, it’s clear that the venture capital industry is evolving. Since 2005, thousands of new millionaires have been minted by the IPOs of Alibaba Group, Lending Club, Go Pro, Box, Zendesk, Facebook, Pandora, Zynga, Linkedin, Homeaway, Zipcar and countless others. Read More

  • No Traditional Financial Institutions? No Problem Crunch Network

    No Traditional Financial Institutions? No Problem

    On Lending Club’s February 2015 quarterly earnings call, an analyst asked CEO Renaud Laplanche a simple question: have you considered getting the loans you’re issuing rated? Renaud had a simple answer: We have, but we won’t. As Renaud said, the marketplace lending platform’s loan grading system, which it illustrates on its website, is in many ways more transparent and… Read More

  • Fundbox Raises $40 Million To Pay Invoices On Demand

    Fundbox Raises $40 Million To Pay Invoices On Demand

    Fundbox, a company that loans businesses money for outstanding invoice payments, has raised $40 million to grow its own business in the trillion-dollar alternative lending market. The Series B round was led by General Catalyst with participation from NyCa Investment Partners and help from existing backers Khosla Ventures, Shlomo Kramer and Blumberg Capital. If a small business owner… Read More

  • Alibaba And Lending Club Launch Financing Program For U.S. Businesses

    Alibaba And Lending Club Launch Financing Program For U.S. Businesses

    Alibaba.com and peer-to-peer financing site Lending Club have inked a strategic partnership designed to get more U.S. businesses to buy inventory from the e-commerce giant’s wholesale marketplace. The two will offer a new financial service called the Alibaba.com e-Credit Line that will let American companies apply for credit lines of $5,000 to $300,000 through the site, which they can… Read More

  • New Relic And Hortonworks See Strong Public Debuts

    New Relic And Hortonworks See Strong Public Debuts

    In early trading, New Relic’s shares are up 31 percent in its first day as a public company. Another technology company, Hortonworks, will begin trading this morning as well. Update: Hortonworks has opened to a massive gain of more than 40 percent as well. For tech IPOs, today is a huge day. The two companies are trading on different exchanges, with New Relic selecting the NYSE, and… Read More

  • SoFi Closes On $80 Million To Expand Its Lending Business

    SoFi Closes On $80 Million To Expand Its Lending Business

    Confirming our earlier reporting, the peer-to-peer lender Social Finance said it closed on $80 million in fresh funding, as it looks to expand its lending operations to mortgages and personal loans. Read More

  • Opening Consumer Products To Crowdsourced Investment, CircleUp Raises $14 Million

    Opening Consumer Products To Crowdsourced Investment, CircleUp Raises $14 Million

    Technology’s ability to harness the wisdom of crowds has created massive new businesses that support entrepreneurship around arts, craftsmanship, and technology while simultaneously re-shaping the market for personal lending. With its new $14 million financing, CircleUp wants to change the development of consumer products with equity crowdfunding. Read More

  • Startup Financial Services Companies Come Of Age

    Startup Financial Services Companies Come Of Age

    With one eye on businesses abandoned in the wake of the financial crisis and the other on a new generation of investors, startup companies are now raising significant sums to challenge the hegemony of big banks and investment firms. Read More

  • Google-Backed Lending Club Brings Peer-To-Peer Lending To Business Loans

    Google-Backed Lending Club Brings Peer-To-Peer Lending To Business Loans

    Peer-to-peer lending platform Lending Club, a peer-to-peer lending marketplace, is announcing a major expansion today into business loans. Read More

  • With An IPO On Its Radar, Lending Club Adds Former Treasury Secretary Larry Summers To Its Heavyweight Board

    With An IPO On Its Radar, Lending Club Adds Former Treasury Secretary Larry Summers To Its Heavyweight Board

    Today, Larry Summers became the latest prominent name to endorse Lending Club — the fast-growing peer-to-peer lending company that aims to connect creditworthy borrowers with smart investors — as the former U.S. Treasury Secretary joined the company’s growing, star-studded board of directors. The economist, also known for serving as the 27th president of Harvard University and… Read More

  • The P2P Lending Experiment: Lending Club Surpasses $1B In Personal Loans, Hits Profitability

    The P2P Lending Experiment: Lending Club Surpasses $1B In Personal Loans, Hits Profitability

    Last night at Bloomberg’s San Francisco headquarters, Kleiner Perkins partner Mary Meeker took to the stage to deliver one of her famed presentations on the prevailing trends in the tech ecosystem. It was a somewhat unexpected mid-year update, which elaborated on her annual report published earlier summer, and discussed the continuing strength of mobile, the skyrocketing adoption of… Read More

  • The P2P Evolution

    The P2P Evolution

    Many years ago, after graduating college, I came home before moving to NYC, wondering how I would scrounge together the money for the first month’s rent and security deposit so my friends and I could all live together in the Big Apple. I had one month to get the cash, and instead of going out for traditional, hourly-wage work, I decided to go through all of my old stuff and throw it on eBay. Read More

  • Lending Club Surpasses $10M In Monthly Loan Fundings, Makes Key Hire

    Peer-to-peer lending network Lending Club this morning announced it passed $10 million in monthly loan fundings for May 2010. The company claims that the milestone marks the first time any U.S. peer lending company has funded that amount of loans in a single calendar month. Main rival Prosper is closing in on $200 million in personal loans funded in total – last time it has broken out… Read More

  • Peer Lending Site Lending Club Raises $24.5 Million Series C Round

    Peer Lending Site Lending Club Raises $24.5 Million Series C Round

    A big round for a company that originally started out as a Facebook app: peer lending network operator Lending Club has secured a $24.5 million Series C financing round led by Foundation Capital and joined by existing investors including Morgenthaler Ventures, Norwest Venture Partners and Canaan Partners. This brings the total of capital injected into the company to $52.7 million. Read More

  • SEC Greenlights Prosper; P2P Lending Resumes In 14 States, More Coming

    Good news for P2P lending and trading platform Prosper as it concludes its 9-month hiatus during which it was not allowed to continue its loan operations in the United States. The Securities and Exchange Commission is now greenlighting Prosper to facilitate peer-to-peer lending in 14 states with more on the way, borrowing nearly nationwide. Prosper is now the first and thus only Internet… Read More

  • P2P Lending Marketplace Prosper Gets Off The Bench, Debuts Open Market Initiative

    Prosper, the people-to-people lending service that launched way back in May 2006, has found itself on a rocky road so far. Last October, Prosper suspended new lending in order to register with the Securities and Exchange Commission to create a secondary marketplace for the loans on its site (the SEC wanted to evaluate whether the company should register as a securities broker, as evidenced… Read More

  • Lending Club Gets A $12 Million Credibility Boost

    P2P money lending service Lending Club has closed a $12 million Series B round with Morgenthaler Ventures as the lead and joined by existing investors Norwest Venture Partners and Canaan Partners. The total capital invested in the company is now $30 million. (It raised $12 million in angel and Series A funding in 2007, and then another $6 million in a Series A extension in September… Read More

  • Prosper And Other P2P Lenders Get Squeezed By The Credit Crunch

    Prosper and other peer-to-peer lenders like Zopa and Lending Club may turn out to be collateral damage from the credit crisis. Yesterday, Prosper suspended new lending in order to register with the S.E.C to create a secondary marketplace for the loans on its site. As recently as Monday, Prosper didn’t think it would have to register as a seller of securities. But the new climate… Read More

  • Lending Club Files For SEC Registration, Hopes To Resume Service

    Lending Club, the P2P money lending site, has filed registration forms with the SEC. Pending their approval, the site should be able to relaunch its lending service, which has been on hiatus since April (while the company didn’t provide an explanation for the shutdown at the time, we speculated that they lacked the proper licenses). From the release: The registration statement seeks… Read More