Lending Club, the platform for investing in and obtaining personal loans, has raised $25 million in venture capital (VC) funding. The investment round was led by Union Square Ventures; however, all the existing venture investors also took part in the fundraising process.
The early stage venture capital firm, based in New York, has joined the Lending Club as a board observer. The platform recently exceeded $325 million in total loan originations and is now issuing over $20 million in prime consumer loans each month.
Click here for the release from PR Newswire.