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LendingClub
Lehi, US · 23 known investors
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Happen Bank originates and sells unsecured personal loans to institutional investors including banks, credit unions, and asset managers seeking high-yield, short-duration credit assets. The company operates as a publicly traded U.S. national bank that has originated over $100 billion in loans since inception.
Also known as Happen Bank · Happen Bank Inc. · Happen Inc. · LendingClub · LendingClub Corporation
Founders & leadership
Investors · 23
How we know: Alpaca VC's portfolio page · the VCSheet dataset · Not right? Tell us
How we know: Canaan Partners's portfolio page · funding news · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Canvas Ventures's portfolio page · the VCSheet dataset · Not right? Tell us
How we know: Corigin Ventures's portfolio page · Not right? Tell us
How we know: Felicis Ventures's portfolio page · Not right? Tell us
How we know: the VCSheet dataset · foundationcapital.com · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Kleiner Perkins's portfolio page · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: funding news · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Union Square Ventures (USV)'s portfolio page · company funding news (hacker news) · press coverage · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Westway Capital's portfolio page · Not right? Tell us
How we know: press coverage · Not right? Tell us
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How we know: open dataset · 5k.vc investor directory · Not right? Tell us
How we know: press coverage · Not right? Tell us
How we know: open dataset · 5k.vc investor directory · Not right? Tell us
How we know: open dataset · 5k.vc investor directory · Not right? Tell us
How we know: press coverage · Not right? Tell us
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Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Founder mafia
The LendingClub mafia →20 people who came through LendingClub went on to found or lead other companies.
Related companies · 9
Companies working in the same space as LendingClub.
Timeline · 20
launches, deals, and filingsThe 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.
Following the acquisition of Radius Bank, the company began operating as a fully chartered U.S. bank offering lending and deposit products.
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.
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.
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 ↗
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.
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 ↗
Partnered with Titan Bank (Texas) and Congressional Bank (Maryland) to help them facilitate small loans that would otherwise have been unprofitable.
$1B source ↗
$1B source ↗
In fall 2011 the company relocated its headquarters to downtown San Francisco from earlier offices in Sunnyvale and Redwood City.
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.
Amendment outlined new interest rate formulas and additional detail on a resale trading system.
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 ↗
The company temporarily suspended new lender registration and canceled its affiliate program while awaiting approval to issue promissory notes to lenders.
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.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- sv1sec.gov · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does LendingClub do?
- Happen Bank originates and sells unsecured personal loans to institutional investors including banks, credit unions, and asset managers seeking high-yield, short-duration credit assets. The company operates as a publicly traded U.S. national bank that has originated over $100 billion in loans since inception.
- Who are LendingClub's investors?
- LendingClub's investors include 3Spoke Capital, Alpaca VC, Canaan Partners, Canvas Ventures, CapitalG, Coatue Management, Corigin Ventures, Felicis Ventures and 15 more.
- Where is LendingClub headquartered?
- LendingClub is headquartered in Lehi, US.