Lending Club

About Lending Club

Lending Club - Lending Club is a person-to-person lending website that pairs borrowers and lenders through a matching system that combines a search algorithm, credit decisioning and social networking. Lending Club is headquartered in Sunnyvale, California. In August 2007 the company raised $10.26 Million in a Series A funding round led by Norwest Venture Partners and Canaan Partners.

Lending Club was founded on the philosophy that borrowers will be less likely to default to members of their own communities. Lending Club leverages existing communities and relationships to help minimize risk using a proprietary algorithm (LendingMatch). Lending Club can find relationships between anonymous borrowers and lenders based on factors including geographic location, educational and professional background, and connectedness within a given social network.

Performance statistics on Lending Club loans are published and updated daily. The top 100 Lender portfolios are also listed on the company website.