LendingClub has filed for an IPO to raise $500M. It will be interesting to see where the valuation lands, considering that the company's most recent raise in June put the valuation at $4B. Fortunately, LendingClub's revenue has soared, 2013 revenue was $98M, which was a 190% increase over the 2012 numbers. First half revenue for 2014 is already $86.9M.
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Lending Club, the world’s largest peer-to-peer lender, files for an IPO
The company is looking to raise funds amid the growing success of the peer-to-peer lending market, which includes competitors such as Prosper and Upstart. Lending Club has risen to the top of that market and is now the world’s largest online connector of borrowers and investors. The company has originated over $5 billion in loans as of the end of June. In the six months through June 30, it originated about $1.8 billion of that total, 125% more than over the same period a year earlier, according to its filing with the Securities and Exchange Commission
