Tagged: lendingclub

Future Fintech: The Fight for the Digital Banking Crown

As 2019 moves into its third quarter, the once burgeoning industry of digital banking is starting to make serious waves in the financial world – and investors are taking notice. Big players like Monzo, Starling, N26, Revolut, and EQIBank have recently completed massive funding rounds… Read More

Digital Banking: LendingClub Gets Some Fintech Love as it Pursues National Bank Charter

Shares in LendingClub (NYSE:LC) are rising during another down market day as the trade war with China has no end in sight and political tempers flare. Shares are currently trading over 10% higher following yesterday’s Q2 earnings report where LendingClub said it expected to finally… Read More

LendingClub Q2 Results, Revenue Rises, Loss Declines. Launches New “Select Plus Platform” for Sophisticated Credit Investors. Will Pursue National Bank Charter

LendingClub (NYSE: LC), an online lending platform for both borrowers and investors, has posted second-quarter results. While still generating a loss, LendingClub said it was on track to be net income profitable (Adjusted) by Q3. LendingClub took years to originate its first $1 billion. Today,… Read More

LendingClub: America Does Not Need Another Credit Card, Apple Card Spells Disaster for Consumers

Apple Card, a “new kind of credit card” launched by Apple (NASDAQ:AAPL) in partnership with Goldman Sachs (NYSE:GS) is expected to be made available to the public within the next few days. In fact, it has been reported that invitation emails have already gone out… Read More

LendingClub Continues Innovating with Levered Certificates backed by Marketplace Loans

LendingClub (NYSE: LC) has issued its “next-generation certificates,” called “Levered Certificates.” These certificates are backed by approximately $100 million of loans originated on the LendingClub platform. According to a release, LendingClub has structured the offerings to consist of two securities, one equity certificate, and one… Read More

LendingClub Issues More Than $2 Billion in CLUB Certificates

Online marketplace lending platform LendingClub (NYSE: LC) announced on Monday it has issued over $2 Billion in CLUB Certificates since the program’s launch less than a year and a half ago. LendingClub reported that it took a year for the lender to issue its first… Read More

LendingClub’s Reverse Split Kicks in on July 8th

As anticipated, LendingClub (NYSE: LC) has scheduled the date on which its shares will trade reflecting a reverse split. LendingClub announced earlier this year its intent to complete a 1 for 5 reverse stock split. The decision was made to lower shareholder management. The reverse… Read More

LendingClub Rings the Opening Bell at NYSE as It Marks 3 Million Borrowers

The largest provider of personal online loans in the US, LendingClub (NYSE: LC), got to ring the bell at the New York Stock Exchange today. The event was to celebrate the marketplace lending platform’s 3 millionth borrower. To date, LendingClub has originated over $50 billion… Read More

LendingClub Makes it Easier for Consumers to Consolidate Debt & Pay Down Credit Cards

LendingClub (NYSE:LC), an online lender mostly catering to the consumer market, has announced an enhanced service to help individuals pay down debt – largely from high-interest rate credit cards. According to LendingClub, after extensive testing, the online lender has announced the broader launch of “balance… Read More

LendingClub Re-Elects Board Members, Approves Reverse Stock Split

LendingClub (NYSE:LC) held its annual meeting this week. On the list of matters requiring shareholder approval were several important items. First, two Directors were re-elected. The election of Susan Athey and John C. (Hans) Morris was approved. Both will serve until 2022 unless events change…. Read More

LendingClub Hires New Chief Marketing Officer to Boost Consumer Brand

Marketplace lending platform LendingClub (NYSE:LC) has appointed Alexandra Shapiro as their new Chief Marketing Officer (CMO). This will be LendingClub’s first CMO since current CEO Scott Sanborn was elevated from that role to manage the Fintech lender. According to a note from LendingClub, Shapiro will… Read More

LendingClub Posts Presentation in Advance of Shareholder Meeting

LendingClub (NYSE:LC) has posted a presentation apparently in preparation for its annual shareholder meeting which is scheduled to take place on June 5, 2019. The deck, embedded below, is largely a rehash of LendingClub’s Q1 report which took place the first week of May. There… Read More

LendingClub Reports Net Revenue of $174.4 million, Net Loss of $19.9 million. Loan Applications Grew 31% in Q1

LendingClub (NYSE: LC), the leading marketplace lender in the US, reported first-quarter results today. According to the online lender, applications grew 31% with originations hitting $2.7 billion. Importantly, 73% of customers were approved within the first 24 hours – a necessary metric in the digital… Read More

LendingClub Partners with Funding Circle and Opportunity Fund to Provide Better Access to Credit for SMEs

Beginning today, LendingClub (NYSE: LC) will connect small business borrowers seeking a loan on their online lending platform with both Funding Circle and Opportunity Fund. The initiative is being pitched as a collaboration designed to substantially increase small business owners’ access to transparent, affordable and… Read More

LendingClub to Announce Q1 Results on May 7th After Market Close

The largest marketplace lending company LendingClub (NYSE: LC) will report Q1 2019 results after the bell on Tuesday, May 7, 2019. According to the Q4 report, the following guidance was provided: Net Revenue to be in the range of $162 million to $172 million Consolidated… Read More

LendingClub Proposes a Reverse Split of 5-1 for its Shares

LendingClub (NYSE:LC) has filed a document with the Securities and Exchange Commission (SEC) indicating its intent to do a reverse split on issued and outstanding shares. LendingClub would exchange 5 shares for 1. The proposal was included in the notice of the forthcoming Annual Meeting… Read More

John Mack & Mary Meeker Depart LendingClub Board of Directors

LendingClub (NYSE:LC) has posted a notice that two high-profile board members have submitted notice they will not stand for re-election. Both John J. Mack and Mary Meeker have decided to depart LendingClub’s Board. Mack is one of the best-known names on Wall Street. The veteran… Read More

LendingClub Tops Earnings Expectations as Loan Originations Rise but Forecast Disappoints

Leading marketplace lending platform LendingClub (NYSE: LC), released Q4 earnings today along with full year 2018 numbers, and its numbers beat expectations. LendingClub reported record loan originations of $10.9 billion a 21% increase versus the year prior. Net revenue jumped along with originations rising 21%… Read More

LendingClub Selected for 2019 Bloomberg Gender-Equality Index

LendingClub Corporation (NYSE: LC), announced on Wednesday it is one of 230 companies selected for the 2019 Bloomberg Gender-Equality Index (GEI), which distinguishes companies committed to transparency in gender reporting and advancing women’s equality. According to LendingClub, the index doubled in size from 2018 and includes firms from 10… Read More

LendingClub Quickly Tops $1 Billion in New Club Certificates

Announced less than a year ago, LendingClub’s (NYSE:LC) new Club Certificates have topped the $1 billion mark, according to a release by the marketplace lending platform. The Club Certificates is an entirely new pass through security designed to make it easier for institutional investors to participate… Read More

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