LendingClub, Valued at $3.8 Billion, Acquires Springstone
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LendingClub Corp., the largest U.S. peer-to-peer lender, is taking steps to become the one-stop shop for online loans as it plans for an initial public offering. It’s also now valued at almost $3.8 billion.
After expanding from consumer lending into small business credit last month, LendingClub is entering the market for financing private education and elective medical procedures with its first acquisition. The company said today that it purchased Springstone Financial LLC for $140 million.