Lending Club Corporation

Lending Club is a company that has been around for over a half a decade now with the company being founded in 2006. The Lending Club Corporation headquarters are located in San Francisco, CA. They have an office that you can visit in the San Francisco area located at 370 Convention Way in Redwood City. Their claim to fame is being the first peer-to-peer lender to register its offerings and securities with the SEC. As of July 18th Lending club has loaned out $313,155,950 over 30,868 loans and have also declined $3,385,032,579 in loan applications. June 2011 was their record month, originating $20 million in loans.

As of the latest reports, Lending Club Corporation had a total of 62 employees working for them. This includes people like the CEO, Renaud Laplanche, the COO – John Donovan and the CMO – Scott Sanborn.  Patrick Gannon acts as the SVP for the company while Soul Htite is in charge of VP Engineering. Outside of the people in those positions, important people on their board of directors are Jeff Crowe and Dan Ciporin.

One of the reasons why Lending Club is able to employ so few employees for the amount of business that they are doing on a regular basis is because all of their transactions are handled online. This cuts down on the need for employees to be standing by and waiting for customers to arrive.

Back in August 2007 the company managed to raise $10.26 million in a Series A funding round that was led by Northwest Venture Partners as well as Canaan Partners. They followed this up with a $12 million Series B round which was led by Morgenthaler Ventures in March of 2009. In April 2010 they raised another $24.5 million as part of a series C funding round which was led by foundation capital as well as all of their existing partners, Morgenthaler Ventures, Northwest Venture Partners and Canaan Partners.

On October 14, 2008 Lending Club Corporation announced their completion of the SEC registration process and posted the filled prospectus on their website as well as resuming new lender registration which had been suspended since April. Any notes that were issued on or after the 14th of October represent Lending Club securities instead of direct obligations of the ultimate borrower and are also tradable on the Foliofn trading platform.

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