LendingClub is looking to calm its peer-to-peer investor base, according to an email.
Acting CEO Scott Sanborn's e-mail Thursday to people who had served as peer-to-peer lenders on the network comes as the fintech company has seen its stock plummet in the wake of the resignation of its previous CEO earlier this month.
"We've talked to hundreds of our investors — spanning individuals to financial advisors to banks to large institutions — over the past week about the strength of our business, our operations, our people, and our data integrity," Sanborn wrote. "Let me assure you that we are in a strong financial position with a substantial amount of cash and securities on our balance sheet — $868 million. We plan to be around for many years to come."