LendingClub (NYSE:LC) is an American financial technology company that operates a leading online lending marketplace. Through its platform, LendingClub connects borrowers seeking personal, auto and small business loans with investors looking to fund these credit opportunities. The company leverages proprietary analytics and credit models to facilitate loan origination, underwriting and servicing, aiming to provide borrowers with a streamlined borrowing experience and investors with diversified credit exposure.
Originally founded in 2006 by Renaud Laplanche as one of the pioneers of peer-to-peer lending, LendingClub launched its initial public offering in December 2014. Since then, the firm has evolved its business model to focus on an institutional marketplace approach while continuing to serve a retail customer base. In recent years, LendingClub expanded its product suite to include auto refinancing, small business loans and home improvement financing, broadening its reach within the consumer credit market in the United States.
In 2021, LendingClub completed the acquisition of Radius Bancorp, gaining a bank charter and enabling the launch of deposit products under the Radius brand. This strategic move allows the company to offer high-yield savings accounts and certificates of deposit, enhancing its ability to fund loans and deepen relationships with both borrowers and depositors. The integration of banking services represents a significant step in LendingClub’s transition from a pure marketplace lender to a full-service digital bank.
Headquartered in San Francisco, California, LendingClub is led by Chief Executive Officer Scott Sanborn, who has overseen the company’s growth and transformation since 2012. The firm’s senior leadership team combines expertise in credit risk, digital banking, data analytics and regulatory compliance. LendingClub remains focused on leveraging technology and data-driven insights to deliver value to its stakeholders and expand financial access across the U.S. market.
