Updated:
LendingClub Corporation
LendingClub was founded in 2007 by Renaud Laplanche, who previously founded TripleHop Technologies.
LendingClub Corporation
LendingClub was founded in 2007 by Renaud Laplanche, who previously founded TripleHop Technologies. The company pioneered peer-to-peer lending in the U.S., matching individual borrowers with investors through an online platform. It went public in 2014 via an IPO on the NYSE (NYSE: LC). The firm operates a two-sided marketplace: borrowers apply for unsecured personal loans up to $60,000, while institutional investors — including banks, asset managers, and hedge funds — purchase the loan notes. Over $90 billion in loans have been originated through the platform since inception (per the firm). LendingClub also offers auto loan refinancing and, since acquiring Radius Bank in 2020, provides deposit accounts including checking, savings, and CDs. LendingClub is a publicly traded company (NYSE: LC) with a market capitalization of approximately $1.5 billion (as of early 2025). The firm employs over 1,000 people, primarily at its San Francisco headquarters. In February 2024, LendingClub reported full-year 2023 net income of $248 million, its eighth consecutive profitable quarter (per LendingClub Q4 2023 earnings, February 2024). What distinguishes LendingClub from traditional banks is its asset-light marketplace model: the firm originates loans but does not hold them on its balance sheet, instead selling them to investors. This structure reduces credit risk and capital requirements. The acquisition of Radius Bank in 2020 added a chartered bank platform, allowing LendingClub to accept deposits and diversify funding beyond institutional capital.
General information
Firm type
Asset Manager
Year founded
2007
AUM
Undisclosed
Location
Region
North America
Country
US
City
San Francisco
Corporate office
San Francisco, CA, United States
Sector focus
Frequently asked questions
Who founded LendingClub, and when?
LendingClub was founded in 2007 by Renaud Laplanche, a French entrepreneur who previously founded TripleHop Technologies. Laplanche served as CEO until 2016, when he stepped down following a regulatory investigation into the company's loan practices.
How does LendingClub make money?
LendingClub earns transaction fees from borrowers (origination fees) and from investors (service fees). It also generates net interest income from loans it holds on its balance sheet and, since acquiring Radius Bank, from deposit products.
Is LendingClub a bank?
Yes. In January 2021, LendingClub completed its acquisition of Radius Bank, a nationally chartered bank, and now operates as LendingClub Bank, N.A. This gives it a bank charter and the ability to accept deposits, offer checking and savings accounts, and issue FDIC-insured CDs.
What types of loans does LendingClub offer?
The firm primarily offers unsecured personal loans (up to $60,000) for debt consolidation, credit card paydown, and other personal expenses. It also offers auto loan refinancing and, through its bank, provides consumer deposit products including checking, savings, and CDs.
Who invests in LendingClub loans?
Institutional investors — including banks, asset managers, hedge funds, and insurance companies — purchase loan notes through the LendingClub marketplace. Individual investors can also participate through the firm's retail platform, though institutional capital accounts for the majority of funding.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: