Tagged: scott sanborn

LendingClub CEO Scott Sanborn: We have been preparing for an adverse environment for the past several years

LendingClub (NYSE:LC) is the leading online consumer lender in the US and the first big Fintech lender to go public on the NYSE. Over $50 billion in lending has been originated on the platform that claims more than 3 million customers. The last few years… Read More

LendingClub Q2 Hit by COVID: Loan Originations of $325.8 Million, Down 90% year-over-year

LendingClub (NYSE:LC) is out with Q2 earnings and, as anticipated, COVID-19 has hit the online lender hard. According to the company, during the quarter loan originations came in at $325.8 million, down 90% year-over-year. LendingClub’s net revenue during the quarter was down 77% year over… Read More

LendingClub Adds COVID-19 Help Center for Members, Adds New Services for Challenging Economic Environment

  LendingClub (NYSE:LC), an online lending marketplace and emerging digital bank, has announced the launch of the “Member Center,” a centralized location for users to find assistance and support to better manage their financial lives during the COVID-19 crisis. Early one, when the Coronavirus first… Read More

LendingClub Q1: Loan Originations Sink Along with Net Revenue as COVID-19 Hammers Online Lender

LendingClub (NYSE: LC) is out with its first-quarter earnings report and the numbers are indicative of the problematic economy that has been crushed by the Coronavirus pandemic. LendingClub, the leading marketplace lender in the US, delivered numbers that showed a significant decline versus the same… Read More

A New Era in Fintech? LendingClub Reports Profitable Q4, Announces Acquisition of Digital Bank – Radius

LendingClub (NYSE:LC), the largest online lending marketplace in the United States, has simultaneously announced a GAAP profitable Q4 while revealing it has purchased a federally chartered bank, Radius Bank, thus immediately vaulting the Fintech into the hot digital banking realm. According to a release distributed… Read More

The Marketplace Bank: Is LendingClub the Future of Banking?

Earlier this week, leading marketplace lending platform LendingClub (NYSE:LC) announced Q3 financial results that beat on both the top and bottom line. Importantly, LendingClub reported its first profitable quarter in years – a longtime goal of the Fintech. LendingClub went public in December 2014 during… 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 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 Q3 Reports Increase in Net Revenue As Originations Rise, Net Loss Stands at $22.7 Million

Marketplace lending platform LendingClub (NYSE: LC) has reported financial results for the third quarter ended September 30, 2018. According to the company, net revenue rose 20% year over year to a “record” $184.6 million. Loan originations came in higher too at $2.9 billion, up 18% year… Read More

LendingClub Q2 Earnings: Originations Increase 31% YoY, Net Revenue Rises 27%

LendingClub (NYSE:LC) is out with numbers for the second quarter of 2018 ending in June. According to a release, LendingClub delivered the following results: Record net revenue of $177.0 million, up 27% year-over-year Record originations of $2.8 billion, up 31% year-over-year Improved Contribution Margin to… Read More

Former Wells Fargo Executive Joins LendingClub as Chief Lending Officer

LendingClub (NYSE: LC), the largest US marketplace lender, has appointed Ronnie Momen to become their Chief Lending Officer. According to LendingClub, Momen will oversee company’s credit strategy including the use of credit data, analytics, and products. Momen started with LendingClub today and is reporting directly… Read More

LendingClub Reports 22% Revenue Growth While Net Loss Grows

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has just released their Q1 earnings report while providing guidance for the full year. According to LendingClub, revenue increased 22% to $151.7 for the quarter with originations growing 18%. Total lending has now topped… Read More

LendingClub Hires Bahman Koohestani as CTO

LendingClub (NYSE: LC), has selected  Bahman Koohestani to serve as the company’s Chief Technology Officer. Koohestani was most recently with Clarivate Analytics, where he served as Chief Technology Officer. Prior to Clarivate Analytics, Bahman was Executive Vice President and Chief Technology Officer of shopping site NexTag where… Read More

Heard at LendIt Fintech 2018

LendIt returned to San Francisco this year as it continues with its annual conference which is one of the largest Fintech focused events in the US. This year’s event is a bit different for several reasons. First of all, more traditional banks showed up in… Read More

Lawrence Summers Resigns from LendingClub Board, Leading Economist Susan Athey Steps In

Lawrence Summers has resigned from the Board of Directors of LendingClub (NYSE:LC), according to a release from the leading online lending platform. Summers is departing the Board at the conclusion of LendingClub’s annual shareholder meeting following a six year stint helping to guide the firms strategy. Summers… Read More

LendingClub Appoints Former Netflix Chief Talent Officer Patty McCord As New Board of Directors Member

Online credit marketplace LendingClub Corporation (NYSE: LC), announced on Tuesday it has appointed Patty McCord as the newest member of its Board of Directors, effective December 13, 2017. According to the online lender, McCord spent 14 years creating the unique and high-performing culture at Netflix and… Read More

Here is the LendingClub Presentation Shared at their Investor Day Event

LendingClub (NYSE:LC) presented at Morgan Stanley last week in a day long event that provided an in-depth update on the company and its expectations for future performance. The Investor Day Presentation, embedded below, was an encouraging compendium of how LendingClub envisions the future of online… Read More

LendingClub will Hold Live Investor Meeting on Thursday

LendingClub (NYSE:LC) has gone from Wall Street darling to Wall Street dog. Since the IPO at the tail end of 2014, shares in the largest marketplace lending platform in the US have struggled to regain its offer price of $15 a share. If you are… Read More

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