- The WSJ reports Lending Club, owner of a fast-growing P2P lending platform, has hired Goldman and Morgan Stanley (among other banks) to take it public. An offering could arrive by year's end.
- Lending Club was valued at $3.75B in a recent funding round, after getting valued at just $2.3B in a round last year. The company has handled over $4B worth of personal loans (both from individuals and financial firms) over its lifetime, and is looking to expand into additional types of credit.
- This spring, Lending Club bought Springstone Financial, an issuer of loans meant to help parents pay for private school tuition, for $140M.
- Google reportedly took an 8% stake in Lending Club last year.