Tagged: renaud laplanche

Report: Renaud Laplanche Preps to Launch Online Lender Credify

Renaud Laplanche on screen

Renaud Laplanche, the visionary behind Lending Club (NYSE:LC) who was pushed out of the marketplace lender this past May, is prepping a new online lender: Credify Finance Corp. WSJ.com is reporting that Laplanche along with two other former Lending Club executives, Jeff Bogan and Adelina Grozdanova,… Read More

LendIt Founder Slaps Down Bloomberg Article on Lending Club “Shady Loans”

Peter Renton LenditUSA 2016

Peter Renton, founder of LendIt and online lending industry advocate, has take to the pages of Lend Academy to defend Lending Club (NYSE:LC) following a critical article by BloombergBusinessweek. The Bloomberg article, co-authored by Max Chafkin and Noah Buhayar, hammered Lending Club by questioning the… Read More

The Lending Club Predicament & The Lessons Learned

Lendit Problem Renaud Laplanche

When Lending Club, as the worldwide leader in P2P/marketplace lending and, for that matter, in the entire global crowdfunding market, runs into trouble, it is bound to send ripples way beyond its home market, the United States. And it does. The fast emerging French crowdlending… Read More

Lending Club: Here is the 8K Filed Alongside Shareholder Meeting

Scott Sanborn

Lending Club (NYSE:LC) held its annual shareholder meeting yesterday making several announcements including the appointment of Scott Sanborn as CEO, making his position permanent instead of temporary. The largest marketplace lending platform in the US explained to shareholders that many investors paused in May but… Read More

Update: Tianqiao Chen Again Increases Stake in Lending Club, Up to 15.13%

Tianqiao Chen

Singapore-based private investment firm Shanda Group led Chinese billionaire Tianqiao Chen reported that Chen has raised his stake again in online lending platform Lending Club Corp following the recent ouster of founder and Chief Executive Renaud Laplanche. According to Reuters, Chen increased his Lending Club shares… Read More

Zopa CEO Jaidev Janardana: Leading UK P2P Lending with Superior Service, Transparency and Cutting-Edge Fintech

Zopa Sketch Jaidev-Janardana

Armed with an undergraduate degree in Electronics from Dharmsinh Desai University and MBAs from both the Indian Institute of Management, Bangalore and McGill University, Jaidev Janardana spent 12 years with Capital One, in the US and the UK. He was the CMO for Capital One UK, responsible… Read More

Report: Renaud Laplanche Wants to Buy Lending Club & Take it Private

Renaud Laplanche Lendit 2015

Reuters is reporting that former Lending Club CEO Renaud Laplanche is seeking financial backing to purchase Lending Club (NYSE: LC) and take it private. According to the report, Laplanche has been in discussions with various banks and private equity groups about financing a bid for the… Read More

Lending Club’s New CEO Tells Investors: We Are in a Strong Financial Position

Scott Sanborn 2

Following a series of unfortunate events, acting CEO of Lending Club (NYSE:LC) Scott Sanborn has offered relatively good news to the individual investor base. According to his recent letter, Sanborn stated that he is continuing to remain confident in the the lending platform as well as his team…. Read More

Blood in the Water: Lending Club Receives Subpoena from NY Department of Financial Services

Lending Club Problem

Lending Club (NYSE:LC) will remember May as the month from Hell as the hits just keep on coming. Following the forced resignation of founder and CEO Renaud Laplanche on May 9th due to loan irregularities, Lending Club has received a series of bad news. From… Read More

Brief: Lending Club Receives Subpoena from Dept of Justice

Invest4justicelogo2

Lending Club (NYSE:LC)  received a federal grand jury subpoena last week, after founder and CEO Renaud Laplanche resigned from the board following an internal review of lending and financial practices. According to the P2P lender, $22 million in loans were sold to a single investor against “express instructions as… Read More

Lendit Founders Applaud Swift Action by Lending Club Board

Renaud Laplanche LenditUSA 2016 2

The shock waves are still being felt around the global marketplace lending industry following the removal of Lending Club CEO and co-founder Renaud Laplanche. Lending Club has been the marquee sponsor of industry gathering Lendit in past years. The most recent gathering in San Francisco… Read More

Lending Club CEO Renaud Laplanche Resigns following Internal Review of Loans to Single Investor

renaud laplanche

Lending Club (NYSE:LC) founder and CEO Renaud Laplanche has submitted his resignation to the board of directors following an internal review of a sale of loans to a single investor. According to the company, $22 million in loans were sold to a single investor against “express… Read More

Spring Ahead? Lending Club Plans First Sale of Bonds Backed by Unsecured Loans

Renaud Laplanche

The US’ largest marketplace lender LendingClub Corp. is planning its first sale of bonds backed by its unsecured loans, reported the WSJ, seeking new funding sources in today’s challenging market. Working with Goldman Sachs Group Inc. and Jefferies Group on the offerings, LendingClub’s plans to discuss updates with potential investors as early as this week, reported the WSJ; Goldman… Read More

Lending Club Hires Former McKinsey Partner. Promotes Scott Sanborn to President

Scott Sanborn 2

Lending Club (NYSE:LC) has hired former McKinsey & Company partner Sameer Gulati as Chief Operations Officer. Simultaneously Scott Sanborn has been promoted to President. Both executives will continue to report directly to CEO Renaud Laplanche. Gulati was previously leader of McKinsey’s Digital Banking practice. As… Read More

#LenditUSA Bigger than Ever as Online Lending Begins to Mature

Crowd at LenditUSA 2016 Peter Thiel

  LenditUSA 2016 was bigger than ever. If you look back just three years the venue and the organizers have scaled what was once a relatively small gathering of 375 industry participants in 2013 to one that is truly a global event with over 3,500… Read More

Finally, Marketplace Lending Leaders Form Industry Association to Support Sector Growth

Marketplace Lending 2

As had been rumored for quite some time, marketplace lending leaders Lending Club (NYSE:LC), Prosper and Funding Circle, have announced the creation of an industry association to represent their interests and advocate on behalf of sector growth.  Formed as a not for profit membership organization,… Read More

Lending Club Reacts to Concerns Over Madden vs. Midland Decision

Madden vs. Midland

Lending Club (NYSE: LC), the largest marketplace lending platform in the United States, has altered operations in light of concerns over the Madden vs. Midland decision delivered by the Second Circuit Court of Appeals in May last year. This court case has cast a bit of… Read More

Lending Club Reports Operating Revenue of $427 Million. Will Start Share Buyback Program in the Amount of $150 Million

Renaud Laplanche 2015

The leading marketplace lending platform in the US Lending Club (NYSE:LC) reported Q4 and 2015 full year results this morning.  The company also reported that, to date, it has facilitated over $16 billion in consumer and SME loans.  Lending Club also revealed its intent to… Read More