LendingClub (NYSE: LC) offers an online peer-to-peer lending platform. It offers a range of solutions such as personal loans, business loans, auto loan refinancing, business banking, and more. The company was founded in 2006 and is based in San Francisco, California.
LendingClub's Product Videos
LendingClub's Products & Differentiators
Since launching in 2007, LendingClub has leveraged technology, data, and its marketplace model to transform personal loans online and deliver better rates and products for their members. After redefining the category, by 2019, personal loans were the fastest-growing segment of consumer finance, and LendingClub was the largest personal loan company in America.
Research containing LendingClub
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned LendingClub in 1 CB Insights research brief, most recently on Jul 12, 2021.
Expert Collections containing LendingClub
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
LendingClub is included in 3 Expert Collections, including Digital Lending.
This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Silicon Valley Bank's Fintech Network
We mapped out some of SVB's biggest clients, partnerships, and sectors that it serves using CB Insights’ business relationship data from SVB’s profile to uncover just how important it is to the fintech universe. The list is not exhaustive.
LendingClub has filed 50 patents.
Web frameworks, Data management, Online auction websites, Usability, NoSQL
Web frameworks, Data management, Online auction websites, Usability, NoSQL
Latest LendingClub News
Nov 28, 2023
By PYMNTS | November 28, 2023 | Amber Carroll , senior vice president of membership and lifecycle strategy at LendingClub , told PYMNTS that U.S. consumers face a cash drain — but proactive planning can go a long way toward addressing the pressures of everyday financial life. The data from joint research by PYMNTS Intelligence and LendingClub found that two-thirds of consumers’ available savings are depleted every four years. As Carroll remarked, “I was not surprised that consumers are having to rely on their savings.” The fact remains that living paycheck to paycheck remains a dominant lifestyle for U.S. consumers — touching 60% of the overall population — and for many individuals, monthly expenses exceed income. In the current inflationary environment, extra cash gleaned by tapping into savings has become a lifeline. Even so, “I was taken aback by the sheer volume of depleted savings — as well as the frequency,” Carroll said. Major Expenses Require Major Drawdown of Savings The drain on savings comes, she noted, as major expenses ranging from auto repair to healthcare demand that consumers use the cash on hand that can satisfy those urgent needs. As many as 78% of all consumers surveyed have reported that there’s been at least one expenditure through the past few months that has necessitated them withdrawing a “significant portion” of their savings. The impact varies by financial demographics, where paycheck-to-paycheck consumers draw down 76% of their savings every two years. Consumers who are living more comfortably draw down 58% of their savings every six years, “and they may choose to use those savings to pay for discretionary purchases such as travel or a life event such as a wedding or having a baby.” None of this is to say that high-earning individuals are immune to spending shocks — savings have dropped 7% in real terms (due to inflation) since 2021. At least a subset of one group, namely those earning $200,000 or more, have been able to build up their bank accounts, a hallmark of 35% of these households. How to Save the Savings Asked by PYMNTS how consumers can maintain, and even build, their savings accounts in the face of such challenges, Carroll said, “The only thing that’s expected is the unexpected — so planning for the unexpected is the rule of thumb. That’s a good place to start.” She recommended having at least three to six months of living expenses built up into savings accounts. She added that high-yield savings accounts can be a significant way to build up the coffers, as can CDs, which are yielding 5%. More consumers are optimistic about their ability to save in the months and years ahead, said Carroll, which means they’ve been aware of the benefits of belt-tightening and are taking steps to embrace it. For financial institutions (FIs), she said, a proactive approach to financial wellness can enable these firms to “serve as a partner and an adviser to guide their clients to their financial goals.” That means helping clients gain some perspective and education about what economic conditions to expect in the near future, and how to manage their money through an environment of prolonged high interest rates. “Financial institutions should also look to offer ways for members to be rewarded for their banking, whether it’s through cash-back offers, high-yield savings accounts or lower savings … that allow them to better manage their budgets and finances,” she said. As FIs are proactive with their efforts to keep consumers making the best-informed decisions possible, “consumers can be proactive in managing their finances to take advantage of the tools and the products that are available.”
LendingClub Frequently Asked Questions (FAQ)
When was LendingClub founded?
LendingClub was founded in 2006.
Where is LendingClub's headquarters?
LendingClub's headquarters is located at 595 Market Street, San Francisco.
What is LendingClub's latest funding round?
LendingClub's latest funding round is IPO.
How much did LendingClub raise?
LendingClub raised a total of $263.26M.
Who are the investors of LendingClub?
Investors of LendingClub include FinSight Ventures, T. Rowe Price, BlackRock, Wellington Management Company, Sands Capital and 17 more.
Who are LendingClub's competitors?
Competitors of LendingClub include Happy Money, Zopa, SoLo Funds, PeopleFund, Avant and 7 more.
What products does LendingClub offer?
LendingClub's products include Personal loans and 3 more.
Compare LendingClub to Competitors
Prosper operates as a financial technology company. The company offers a range of financial solutions including personal loans, credit cards, and home equity lines of credit, which are designed to support customers in consolidating debt, financing home improvements, covering healthcare costs, and enhancing their financial well-being. Prosper primarily serves individuals across the credit spectrum, providing them with affordable financial solutions. Prosper was formerly known as Auto Quick Invest. It was founded in 2005 and is based in San Francisco, California.
Avant provides a digital lending platform. It includes personal loans, credit cards, mobile banking, and auto refinance. The company was founded in 2012 and is based in Chicago, Illinois.
Zirtue offers a relationship-based lending application that aims to drive financial inclusion. It provides funds through relationship-based loans. It offers peer lending and borrowing. The company was founded in 2018 and is based in Dallas, Texas.
Amount develops digital banking and financial technology solutions. The company offers a suite of products and services that enable financial institutions to provide mobile banking experiences, including swift loan approval, automated account origination, and flexible payment solutions. Its primary customers are financial institutions and their merchant partners. It was founded in 2020 and is based in Chicago, Illinois.
Instacash develops lending technology. It delivers a peer-to-peer (P2P) lending marketplace. It uses blockchain, artificial intelligence (AI), data science, and machine learning to solve the money inequality problems. The company was founded in 2020 and is based in Lima, Peru.
HonestFund develops a peer-to-peer (P2P) loan service platform. It directly connects borrowers to lenders without banking institutions. HonestFund provides individuals and institutional investors access to alternative investment opportunities across various asset classes, such as residential or commercial real estate, infrastructure financing, and unsecured personal loans. The company was founded in 2015 and is based in Seoul, South Korea.