Finovate Startup 2009 Video Archives >> Lending Club


Website: www.LendingClub.com
Blog:
blog.LendingClub.com
HQ Location:
Sunnyvale, California
Company Founded: October 2006
Product Being Demoed: To be announced at FinovateStartup09
Product Launched: To be announced
Metrics: $35M in personal loans issued to date, 4x year over year growth in loan volume from 2007 to 2008




Presenter Profile How they describe themselves: Lending Club brings together investors and creditworthy borrowers to provide value beyond traditional banks for both. Premium borrowers can get personal loans from $1,000 to $25,000 at fixed rates often significantly better than those offered by conventional sources. Investors (our lenders) are empowered to build a portfolio of Notes based on their specific criteria. Most investors spread their investment across tens or hundreds of qualified borrowers.

What they think makes them better: Lending Club provides superior value and control to both investors and borrowers. Creditworthy borrowers can take advantage of a streamlined, online process, competitive fixed rates, easy monthly payments, and no hidden fees. For lenders, money invested goes directly to approved borrowers. Over the past 20 months, Lending Club investors have earned an average annual return of 9.05% (based on a report by independent research company, Javelin Research), after a low 1% fee.

Executives: Renaud Laplanche (CEO and Founder), John Donovan (COO), Pamela Kramer (CMO), Soul Htite (VP Engineering)

Investors: Norwest Venture Partners, Canaan Partners, Morgenthaler Ventures

Board Members: Jeff Crowe (Norwest Venture Partners), Dan Ciporin (Canaan Partners), Rebecca Lynn (Morgenthaler Ventures), Renaud Laplanche (CEO and Founder, Lending Club)

Advisory Board Members: Pete Hart (former CEO, MasterCard), Chris Thom (former Chief Risk Officer, MasterCard), Gary Briggs (former CMO, eBay), John Furjanic (former EVP, North American Consumer Risk Management, Citigroup)

Customers: Lending Club customers are people looking to invest or borrow money at better rates and with more control than through conventional sources.

Contacts:
Biz Dev: Rob Garcia, Director of Product Strategy, rob@lendingclub.com, 408-524-1539
Sales: Meredith Kramon, Lending Services, Lending Club, mkramon@lendingclub.com,
408-524-3069
Press: Pamela Kramer, CMO, pkramer@lendingclub.com, 408-524-1535; or Patty Treadway, Antenna Group, 415-977-1933, patty@antennagroup.com

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