Lending Club Secures Funding
On the old Crenk website we profile Lending Club and now it seems that they have been able to secure some funding. Lending Club has closed a round of $10.26 million in Series A funding. The round was led by Canaan Partners and Norwest Venture Partners.
Lending Club provides a peer lending service for Facebook users and now hopefully with this funding it will be able to expand. The site needs to be taken beyond Facebook and expanded on its website and possibly other social networks. The peer-lending and micro-lending market is experiencing quite a boom right now, with companies like GlobalFunder also getting investment for their services as well.
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