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August 8, 2022
Finance Technologies

LendingClub shuts retail P2P offering as it focuses on institutional investors

LendingClub is winding down its retail peer-to-peer (P2P) platform Notes, which allows consumers to invest in fractions of loans. The San Francisco-founded fintech is moving towards becoming a bank holding company, following its $185 million acquisition of Radius Bank in February. “It is very hard to scale lending through crowd-funded money” The move means individual investors can no longer invest in loans originated by LendingClub. The fintech had become one of the major P2P lending players in the US since it founded in 2007. But over the years, LendingClub has become focused on institutional investors over the individual. In an…
LendingClub shuts retail P2P offering as it focuses on institutional investors

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