What
A platform for lenders and borrowers offering competitive interest rates and returns on debt investments as an alternative to traditional banks.
Disrupting
Traditional loan servicing from banks and loan investment managers.
Source: Lending Club
Headquarters: San Francisco
CEO: Renaud Laplanche
Year Founded: 2007
Number of Employees: 200
Funding: $102.8 million
Key Investors: Kleiner Perkins Caufield & Byers, Union Square Ventures, Canaan Partners, Norwest Venture Partners, Morgenthaler Ventures, Thomvest Ventures, Google, Foundation Capital and John Mack
Vital Stats
- Revenue increased more than 5 times from 2010 to 2012, reaching $34 million
- $90 million revenue target for 2013
- Reached profitability in first quarter of 2013
- Loans funded to date: $1,744,318,450
- Loans funded last month: $140,125,775
- Interest paid to investors since inception: $150,897,461
- Just completed a $125 million secondary equity sale to Google and Foundation Capital
On Disruption
"Disruption is about upending the status quo to deliver a profoundly better solution."
