Thursday, September 13, 2007

Lending Club Breaks $1 Million, Expanding

lendingclub.pngLending Club, the Facebook exclusive person-to-person lending service has passed the $1 million mark in loans to Facebook users.

The milestone comes just short of 3 months since the the site hit the $100,000 mark, and 3 1/2 months since going live as an original Facebook Platform partner.

Lending Club will also announce today that it is expanding beyond
Facebook and will now offer similar ways to connect borrowers and
lenders through thousands of alumni associations and professional
organizations via

The new site includes tools for building diversified loan portfolios
composed of pieces of 20 to 30 individual loans, hosts a forum for
financial experts to share their knowledge with the Lending Club
community, and “Better Rates Together,” a blog community that features
expert advice on P2P lending and personal finance.

Lending Club recently secured $10.26M in Series A financing led by Canaan Partners and Norwest Venture Partners.

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