Google and Foundation Capital Invest $125M in Lending Club
May 7, 2013
After bringing in several sizable rounds of venture funding, Lending Club has received a $125 million investment from Google (a new investor) and return investor Foundation Capital, through a secondary transaction. Lending Club is a San Francisco-based provider of an online peer-lending service. According to the terms of the deal, no new money was raised; instead, new and existing investors have acquired shares from existing investors. The company is also reportedly planning to file for an IPO.