Lending Club was founded in 2007 with one simple mission: create a more efficient alternative to the traditional banking system that provides lower rates to borrowers and better returns to investors. The company operates an online credit marketplace where investors provide loans to creditworthy borrowers in exchange for the interest income. Lending Club leverages technology to provide a simple, cost-efficient experience generating value that it passes on to customers. As of December 2013, more than $3 billion in loans have been issued to borrowers and nearly $300 million in interest payments have been returned to investors.
The company was founded by Renaud Laplanche, a highly respected entrepreneur; backed by a solid team that is made up of innovators from financial services, technology and consumer products.
Lending Club was recently recognized as one of the 20 "Breakthrough Ideas for 2009" by Harvard Business Review, has been nominated for "Top 100 Innovators" by The Industry Standard, is on the JMP Hot 100 list, and the Always On Global 250 Top Private Companies list. In addition Lending Club won the Webby Award in 2008 for the "Best Banking Website" while also obtaining nominations and honors in 2009, 2011.
Closing share price
|Y, 2013||Y, 2014||Y, 2015|
|$98 M||$211 M||$430 M|
Operating expense total
|$90.7 M||$243 M||$432 M|
|$7.31 M||$-32.9 M||$-5 M|