Tag: Lending Club
Former Lending Club CEO launches rival platform with $60m
Former Lending Club CEO Renaud Laplanche is launching a new consumer lending startup Upgrade with $60m in funding. Read more: www.fintechroundup.com
Tech will lead to new sub-prime crunch
In October 2016, two leading P2P platforms in the U.S. -- Lending Club and Prosper -- announced a new increase in interest rates for lower-grade loans. Read more: techcrunch.com
Damage from scandal continues to hit Lending Club
The San Francisco company reported a $32m loss during the fourth quarter, bringing its losses for the full year to $146m. Read more: www.americanbanker.com
Braintree hires former Lending Club exec John MacIlwaine as CTO
Braintree has hired a new chief technology officer in a move designed to ease the workload of Juan Benitez. Read more: venturebeat.com
Lending Club releases investor update on loss forecasts
lending clubLending Club has filed an 8-K regarding an investor update from the company’s Chief Investment Officer Siddhartha Jajodia. Read more: www.crowdfundinsider.com
Lending Club’s terrible twos
Whatever Lending Club does, however, it will need to do it soon, as its share price continues to suffer. As the writing of this piece, it is a $5.56 per share — a far cry from the $15 it started at two years ago. Read more: www.pymnts.com
South Korean insurer buys 4.1% stake in Lending Club for $66m
South Korea’s Hanwha Life Insurance has acquired a 4.1% stake in troubled peer-to-peer lending firm Lending Club. Read more: www.fintechroundup.com
Lending Club probe said to review buyback as Laplanche faced loss
Wall Street’s top cop is scrutinising whether the founder of Lending Club advocated for the company to prop up its shares without telling the board about a possible conflict of interest. Read more: www.bloomberg.com
Lending Club Chief Capital Officer reassures investors
Lending Club (NYSE:LC) has been stocking up on new executive hires during the past several months. Read more: www.crowdfundinsider.com
Lending Club hires new CFO to lead through turbulent times
Lending Club has brought in its new CFO. Thomas Casey is joining the wavering peer-to-peer lending company following the departure of Carrie Dolan. Read more: www.fintechroundup.com