Fundraising Fox

Lending Club

10 known investors

lendingclub.com β†—

Happen Bank is a financial services company serving retail banking customers. The page shows member reviews but provides no detail about products or services.

Also known as Happen Bank Β· Happen Bank Inc. Β· Happen Inc. Β· LendingClub Β· LendingClub Corporation

FintechSector Agnostic

Founders & leadership

SSScott Sanborn
Scott SanborninCEOAngel investor

Investors Β· 10

Alpaca VCNew York Β· $500K – $1.3M
Canaan PartnersStamford Β· $500K – $20M
Canvas VenturesCampbell Β· $5M – $20M
Coatue ManagementNew York Β· $1M – $20M
Corigin Venturesvia Aubrie Pagano Β· inferred
Felicis VenturesSan Francisco Β· $500K – $15M
Kleiner PerkinsMenlo Park Β· $500K – $15M
Norwest Venture PartnersMenlo Park Β· $10M – $30M
Union Square Ventures (USV)New York City Β· $1M – $8M
Foundation CapitalreportedSan Francisco Β· $250K – $15M

Key figures

latest reported
Average borrower annual incomeDec 2024$112K
Average borrower credit scoreDec 2024711 score
Average personal loan amountDec 2024$15.8K
Average personal loan APRDec 202416%
CD minimum depositJan 2026$500
Cumulative loan originationsJan 2012$600M
Cumulative loans originatedDec 2024$85B
Cumulative venture capital raisedJun 2012$100M
Daily loan originationsJan 2012$1.5M
EmployeesJan 20241,002 people
HeadcountAug 2026465
LevelUp Checking APYJan 20261%
LevelUp Savings APYJan 20264.20% with at least $250 deposited monthly; 3.20% standard
MembersDec 20244,700,000 members
Monthly loan originationsJun 2018$1B
Net incomeJan 2024$51.3M

Company-reported or press-reported figures, each dated to when it was claimed β€” not independently audited.

Founder mafia

4 people who came through Lending Club went on to found or lead other companies.

Jason CorwinSenior Engineering ManagerFounded Safely Finance +1Gary LittleFormer Board ObserverFounded FoursquareDiego RojasSoftware EngineerFounded FinantierChristopher LambertSoftware EngineeringFounded BitPatrol

Competitors Β· 8

by search overlap
Experian9358 shared keywordsExperian offers consumers tools to access their credit report and FICO Score, build credit, and manage money, including credit card matching, bill and subscription negotiation, car insurance comparison, and a digital checking account with debit card. It serves individual U.S. consumers through its app and financial products.
Credit Karma7973 shared keywordsCredit Karma is an AI-powered personal finance platform that provides free credit scores, credit monitoring, cashflow insights, and financial marketplace services to help consumers understand and manage their finances. The platform serves over 140 million members with tools for credit analysis, tax filing, and financial opportunity identification.
Wellsfargo5910 shared keywordsWells Fargo is a bank offering personal financial products such as checking accounts and a mobile banking app for consumers. Its services include account management, spending insights, and financial guidance.
Capital One5751 shared keywordsCapital One is a financial services company that offers credit cards, checking and savings accounts, auto financing, and business banking products to consumers and small businesses. The company provides digital banking tools, rewards programs, and credit monitoring services.
Chase5451 shared keywordsA wealth management and investing service (J.P. Morgan Wealth Management via Chase) offering self-directed brokerage accounts with commission-free online trades as well as one-on-one advisor services, financial planning tools, and retirement accounts. It serves individual retail investors ranging from beginners to experienced investors in the United States.
Credible4959 shared keywordsCredible operates an online marketplace where consumers compare prequalified rates for personal loans, student loan refinancing, private student loans, mortgages, mortgage refinancing, and insurance from multiple lenders and providers side-by-side without affecting their credit score. It is not a lender but partners with financial service providers, and also offers free tools such as a debt tracker and credit score monitoring.
MoneyLion4206 shared keywordsMoneyLion is a financial technology company offering consumer banking products including spend accounts, savings accounts with variable APY, a debit Mastercard with cash back rewards, and a membership plan with added services and insurance benefits. It provides a marketplace connecting users to third-party financial products, with banking services provided by Pathward, National Association.
Equifax3726 shared keywordsEquifax is a data and analytics company providing consumer credit monitoring, identity theft prevention, and business risk and fraud solutions, as well as employment, income, tax, and payroll verification services for businesses and government entities. It serves consumers, businesses, and governments in the U.S. and internationally with credit and financial decisioning insights.

Companies competing with Lending Club for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline Β· 20

launches, deals, and filings
Jan 2026
Renamed Happen Inc./Happen Bank

The company formerly known as LendingClub Corporation is identified as Happen Bank Inc., trading on the NYSE under HAPN, with the website happen.com; a Wikipedia maintenance note dated August 2026 refers to the recent name change.

source β†—

Jan 2021
Acquired Radius Bank and became a chartered digital bank

Following the acquisition of Radius Bank, the company began operating as a fully chartered U.S. bank offering lending and deposit products.

source β†—

Jan 2018
Settled SEC administrative proceeding

The company and Laplanche settled with the SEC, without admitting or denying findings, over claims that it directed an outside investment advisory firm to buy loans at risk of going unfunded.

source β†—

May 2016
CEO Renaud Laplanche resigns after internal review

Laplanche resigned following an internal review that found a violation of company business practices; reports cited $3 million of loans sold to Jefferies with falsified dates and undisclosed conflicts of interest involving Cirrix Capital. The share price fell sharply and the SEC opened an investigation.

source β†—

Jan 2015
Partnership with Opportunity Fund for underserved California small businesses

Announced by former President Bill Clinton at the Clinton Global Initiative; intended to provide $10 million to small businesses in underserved areas of California.

$10M source β†—

Jan 2015
Partnerships with Google, Alibaba.com, BancAlliance and HomeAdvisor

Signed partnerships including extending credit to smaller companies using Google's business services and vetting community bank lenders for BancAlliance, a group of 200 banks.

source β†—

Dec 2014
IPO on the New York Stock Exchange

Raised close to $900 million (reported as $1 billion in one account) in the largest U.S. technology IPO of 2014; the stock debuted at $15 and closed its first trading day up 56%, valuing the company at about $8.5 billion.

$900M source β†—

Aug 2014
Filed for IPO with the SEC

source β†—

Apr 2014
Acquired Springstone Financial

source β†—

Mar 2014
Began providing loans to small businesses

source β†—

Jun 2013
Partnerships with Titan Bank and Congressional Bank

Partnered with Titan Bank (Texas) and Congressional Bank (Maryland) to help them facilitate small loans that would otherwise have been unprofitable.

source β†—

May 2013
Google Capital purchased a stake in the company

source β†—

Nov 2012
Surpassed $1 billion in loans issued and announced cash flow positive

$1B source β†—

Apr 2012
SEC registration renewed for $1 billion in Member Payment Dependent Notes

$1B source β†—

Jan 2011
Headquarters moved to downtown San Francisco

In fall 2011 the company relocated its headquarters to downtown San Francisco from earlier offices in Sunnyvale and Redwood City.

source β†—

Oct 2008
Completed SEC registration and resumed lender registration

Notes issued on or after October 14, 2008 represented company securities rather than direct obligations of the borrower and became tradable on the FOLIOfn trading platform.

source β†—

Aug 2008
Filed amendment to Form S-1

Amendment outlined new interest rate formulas and additional detail on a resale trading system.

source β†—

Jun 2008
Filed Form S-1 to register $600 million in Member Payment Dependent Notes

LendingClub Corporation, then headquartered at 440 North Wolfe Road, Sunnyvale, CA, filed an S-1 with the SEC covering a continuous offering of up to $600,000,000 in Member Payment Dependent Notes tied to unsecured consumer member loans, with a 1.00% service charge and platform interest rates then ranging from 7.37% to 18.86%.

$600M source β†—

Apr 2008
Quiet period: new lender registration suspended

The company temporarily suspended new lender registration and canceled its affiliate program while awaiting approval to issue promissory notes to lenders.

source β†—

Jan 2007
Launched as one of Facebook's first applications

Lending Club launched on Facebook as one of the platform's first applications before being developed into a full-scale peer-to-peer lending company.

source β†—

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Lendingclub Personal Loans: 2026 Review | MoneyRatesmoneyrates.com Β· Apr 2020Upgrade, the newest lending startup of Lending Club founder Renaud Laplanche, has raised $62 million in Series C funding | TechCrunchtechcrunch.com Β· Aug 2018India’s Rentomojo Raises $10M from Bain Capital and Lending Club Foundertechcrunch.com Β· Jul 2017A Brief History Of Lending Club | PYMNTS.compymnts.com Β· May 2016Google Invests In Lending Clubbusinessinsider.com Β· Jul 2013Union Square Ventures (Fred Wilson's VC) Invests $25 Million in "Lending Club"usv.com Β· Aug 2011Lending Club series c funding round raises $24.5mfinextra.com Β· Apr 2010Lending Club raises $12m fundingfinextra.com Β· Mar 2009

β–ΈResearch sources Β· 8

primary sources listed
  • sv1sec.gov Β· web

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Lending Club do?
Happen Bank is a financial services company serving retail banking customers. The page shows member reviews but provides no detail about products or services.
Who are Lending Club's investors?
Lending Club's investors include Alpaca VC, Canaan Partners, Canvas Ventures, Coatue Management, Corigin Ventures, Felicis Ventures, Kleiner Perkins, Norwest Venture Partners and 2 more.