Lending Club Files for IPO; Startup Emerged During Credit Crisis

on Wednesday filed for an initial public offering, a deal that’s likely to be closely watched as online nonbank lenders continue to gain market share from traditional banks. Usa, afrika, asien, europa ghostwriter agentur waren meine ziele. The number of shares and price range is yet to be determined, the San Francisco company said in a filing with the Securities and Exchange Commission. Lending Club was valued at nearly $4 billion in a fundraising earlier this year but could seek a higher valuation in the IPO, people familiar with the matter said in June. The company said its initial fundraising target is $500 million, though that figure is likely to change. It said it may use a portion of the IPO proceeds to repay a term loan it used to fund an acquisition earlier this year. Lending Club primarily collects money from outside investors and lends it to individuals, a practice known as “peer-to-peer” lending. It recently began funding loans to small businesses. Other Web-based lenders are expected to follow in Lending Club’s footsteps. OnDeck Capital Inc. , an online lender to small business, is preparing to file for an IPO that could value the business at roughly $1. 5 billion, The Wall Street Journal reported earlier this month. Executives from Kabbage Inc. , another small-business lender, earlier this year indicated an IPO may be on the agenda in 2015. Read the full post.