# LendingClub Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lendingclub

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.lendingclub.com
- Total disclosed funding: $179M
- Latest round: Series F (Apr 17, 2014)
- Investors on record: 10

## About

LendingClub Corporation is a digital marketplace bank that specializes in personal loans, auto refinancing, and various financial products designed to connect borrowers with investors efficiently.Founded in 2006 and headquartered in San Francisco, US, LendingClub Corporation operates as a digital marketplace bank. The company has engaged in 14 deals, with its latest being an IPO in December 2014, where it raised USD 870 mn by selling 58 million shares at USD 15 per share on the NYSE. The leadership team includes CEOs Armen Meyer, Nolan Benton, and Scott Sanborn, who have guided the company's evolution in the financial services space.LendingClub provides personal loans up to USD 60,000, characterized by fixed rates and customizable repayment plans, helping clients manage debt and various financial needs. In addition, it offers innovative checking and savings products, such as LevelUp Checking and LevelUp Savings accounts, which provide customers with rewards and interest earnings. The platform enables efficient connections between borrowers and investors, facilitating swift disbursement of funds upon loan approval, thereby serving over 5 million members since its inception in 2007.In the most recent fiscal year, 2024, LendingClub reported a revenue of USD 907.96 mn and an EBITDA of USD 123.90 mn. The company generates income primarily through origination fees and interest on its loan products, with borrowers selecting personalized loan options via its online platform, enhancing its B2C and B2B transaction structures.LendingClub plans to leverage its recent IPO funding to develop new financial products and expand into additional markets. The latest funding round, completed in December 2014, will support its initiatives for product innovation and geographic expansion. Specific details on new products and release dates have not yet been disclosed, but the company is actively working on improving its offerings to enhance customer engagement and market reach.

## Funding rounds

- Series F, Apr 17, 2014, $90M — T Rowe Price, Wellington Management, BlackRock, Sands Capital Alternatives
- Series E, Jun 6, 2012, $18M — Kleiner Perkins
- Series D, Aug 3, 2011, $25M — Morgenthaler Ventures, Canaan Partners, Norwest Venture Partners, Union Square Ventures
- Series C, Apr 14, 2010, $25M — Morgenthaler Ventures, Foundation Capital, Canaan Partners, Norwest Venture Partners
- Series B, Mar 13, 2009, $12M — Morgenthaler Ventures, Canaan Partners, Norwest Venture Partners
- Series A, Sep 17, 2007, $9.8M — Canaan Partners, Norwest Venture Partners

## Investors

- Canaan Partners (https://capitalatlas.ai/funds/canaan-partners) — Series A, Series B, Series C, Series D
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series A, Series B, Series C, Series D
- Morgenthaler Ventures (https://capitalatlas.ai/funds/morgenthaler-ventures) — Series B, Series C, Series D
- Foundation Capital (https://capitalatlas.ai/funds/foundation-capital) — Series C
- Union Square Ventures (https://capitalatlas.ai/funds/union-square-ventures) — Series D
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series E
- T Rowe Price (https://capitalatlas.ai/funds/t-rowe-price) — Series F
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series F
- BlackRock (https://capitalatlas.ai/funds/blackrock) — Series F
- Sands Capital Alternatives (https://capitalatlas.ai/funds/sands-capital-alternatives) — Series F