Total amount raised
$392.2 Million
Latest funding date
04/01/2017
Location
Lending Club has successfully raised funds through 15 funding rounds, with the latest being a Post-IPO Equity round. The platform connects creditworthy borrowers with savvy investors, facilitating over $90 billion in personal loans for more than 5 million members.
With notable investors like Two Sigma and Panorama Point Partners, Lending Club continues to innovate in the financial services sector. Keep reading to explore the intricacies of Lending Club's fundraising journey and the investors backing this transformative platform.
What Is Lending Club?
Lending Club, founded in 2007, is a prominent digital marketplace bank headquartered in San Francisco, California. The company operates in various financial sectors, including consumer lending, credit, and fintech.
With an employee count ranging from 1001 to 5000, Lending Club connects creditworthy borrowers with savvy investors. The platform has facilitated over $90 billion in personal loans for more than 5 million members, offering a range of financial products such as personal loans, auto refinancing, and banking services.
How Much Funding Has Lending Club Raised?
- Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: April 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and expansion efforts.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: August 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market reach.
- Debt Financing
- Amount Raised: USD 50,000,000
- Date: April 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the acquisition of Springstone Financial and expand service offerings.
- Private Equity
- Amount Raised: USD 65,000,000
- Date: April 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the acquisition of Springstone Financial and expand service offerings.
- Secondary Market
- Amount Raised: USD 57,000,000
- Date: November 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Amount Raised: USD 125,000,000
- Date: May 2013
- Lead Investors: CapitalG, Foundation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series Unknown
- Amount Raised: USD 17,500,000
- Date: June 2012
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technology infrastructure.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: September 2011
- Lead Investors: Thomvest Ventures, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technology infrastructure.
- Series D
- Amount Raised: USD 25,000,000
- Date: August 2011
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technology infrastructure.
- Series C
- Amount Raised: USD 24,500,000
- Date: April 2010
- Lead Investors: Foundation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technology infrastructure.
Total Amount Raised: USD 364,000,000
Current Valuation: Not publicly disclosed
Key Investors
- CapitalG
- Details: CapitalG is the growth equity investment arm of Alphabet Inc. They focus on late-stage growth companies.
- Investment Focus Areas: Technology, FinTech, Consumer Internet
- Notable Investments: Airbnb, Stripe, Lyft
- Foundation Capital
- Details: Foundation Capital is a venture capital firm that invests in early-stage technology companies. They have a strong track record in FinTech and enterprise software.
- Investment Focus Areas: FinTech, Enterprise Software, Consumer
- Notable Investments: Netflix, Lending Club, Sunrun
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm known for backing innovative companies in technology and life sciences. They have been instrumental in the growth of several tech giants.
- Investment Focus Areas: Technology, Life Sciences, Greentech
- Notable Investments: Google, Amazon, Twitter
- Thomvest Ventures
- Details: Thomvest Ventures is a venture capital firm that invests in early to growth-stage companies. They focus on sectors that are undergoing significant transformation.
- Investment Focus Areas: FinTech, Real Estate, Enterprise Software
- Notable Investments: Kabbage, SoFi, Lending Club
- Union Square Ventures
- Details: Union Square Ventures is a venture capital firm that invests in internet services and technology companies. They are known for their early investments in several successful startups.
- Investment Focus Areas: Internet Services, FinTech, Blockchain
- Notable Investments: Twitter, Etsy, Coinbase
What's Next for Lending Club?
Lending Club's future is brimming with opportunities, particularly in expanding its services to include financing for private education and elective medical procedures. The acquisition of Springstone Financial, with its extensive network of over 14,000 schools and healthcare providers, positions Lending Club to tap into a significant market. This expansion, coupled with the company's rapid growth in consumer loans, underscores its potential to evolve into a modern-day bank.
Future fundraising opportunities are likely, with the possibility of an Initial Public Offering (IPO) on the horizon. Major investors such as T. Rowe Price Associates, Wellington Management Company, BlackRock, and Sands Capital have already shown strong interest, suggesting continued financial backing. However, Lending Club may face challenges, including competition from other alternative lenders and regulatory hurdles as it scales its operations.
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