LendingClub made a splashy debut Thursday on the New York Stock Exchange, pricing above the range at $15, then taking off like a rocket in early trading—at one point climbing 67 percent higher than the initial offering price.
Appearing Thursday on "Squawk on the Street," LendingClub CEO Renaud Laplanche spoke about the opportunities that lie ahead for the peer-to-peer platform.
"What we focus on is really building the company for the next decade. We think we have the opportunity to transform the entire banking system, making it more transparent, more cost efficient, more consumer friendly."
Thursday on CNBC's "Power Lunch," two early investors spoke about the IPO and why they believe the company is reinventing the banking system.
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Entrepreneuer Liron Petrushka was the one of the first angel investors in the company.
"I crossed paths with Laplanche back in 2007 and wanted to back him right away," Petrushka said.
"The consumer credit market has huge potential—trillions and trillions of dollars—and I wanted to ride that winner. LendingClub's model does not need bank branches on each street corner and it can turn around in minutes and hours, not days. This Is the future," he said.