Lending Club Picks Up Ipo-breed Of Investors

NEW YORK (TheStreet) - Peer-to-peer lender Lending Club said on Thursday it has picked up the type of investors it would want when the company is taken public, after raising $65 million from T. Rowe Price, Wellington Management, Blackrock and Sands Capital as part of its acquisition of Springstone Financial. Peer Lending Lures Yield-Hungry Investors Lending Club, however, continued to put off answers about the timing or size of its seemingly inevitable initial public offering. On Thursday, Lending Club said it acquired Springstone Financial for $140 million in cash and stock, in the first-ever acquisition of a traditional financial services firm by a peer-to-peer lender.

 

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