Since its launch in 2007, LendingClub has become the epitome of everything that’s right, and wrong, about the burgeoning fintech sector. Operating the world’s largest online marketplace for borrowers, the company has facilitated $24.6 billion in loans, persuading both individual and institutional investors like banks and hedge funds to provide loans to needy customers. But recent events have brought the company under scrutiny. Last year, LendingClub founder and CEO Renaud Laplanche and several other execs resigned after the company acknowledged some loan malpractices. LendingClub will need to show it can thrive if called-for regulations for the online lending industry are implemented.
Diversified Financial Services
Scott C. Sanborn
San Francisco, Calif.
|Revenues ($M) (Past 12 Months)||$1,152|
|Profits ($M) (Past 12 Months)||$-124|
|Market Value as of Oct. 9, 2017 ($M)||$2,633|