Lending Club is one of the “800 pound gorillas” in new finance. They have been in business for 6 years, recently raised $125 million in equity from investors like Google, and since inception have funded loans for nearly $2.000.000.000.-
Last month alone they funded $158 million underscoring their accelerated growth. This is good news for new finance as it shows increased adoption from users, borrowers and investors alike, and also indicates there is a trend of customers moving from traditional players to new, more customer centric, technology based businesses.
In this interview Mitchel talks about the service, its growth, and how it’s helping investors and borrowers access better rates: