How they describe themselves: Lending Club is an online lending community where people can borrow and lend money, bypass the banks, and get better rates. By working together, members can borrow money more easily and at a better rate than they would get from a bank, or invest in a portfolio of loans at higher rates than those served by savings accounts or CDs. A proprietary technology called LendingMatch helps match lenders with borrowers using connections established through social networks, associations and online communities, and build diversified portfolios based on lender preferences.
Lending Club is headquartered in Sunnyvale, CA and is backed by Norwest Venture Partners and Canaan Partners.
Presenter: John Donovan, COO