Mary Meeker Joins Lending Club Board

Print
Email
Reprints
Comment
Twitter
LinkedIn
Facebook
Google+

Lending Club, the San Francisco-based organization that runs a website  for investing in and obtaining personal loans, announced today a $15 million equity investment from Kleiner Perkins Caufield & Byers and the appointment of Mary Meeker, general partner at KPCB, to the company's board of directors. John Mack, who recently joined Lending Club's board and currently serves as chairman emeritus of Morgan Stanley, also made a $2.5 million equity investment in the company. The investments bring the total funding raised by Lending Club to date to $100 million, bringing the company's total in unrestricted cash to more than $45 million.

"Lending Club is helping reinvent the consumer lending industry," said Mary Meeker in a press release. "It's the kind of opportunity that Kleiner Perkins is interested in and I knew I wanted to be involved."

Meeker, who joined KPCB as a partner in 2010, is also on the board of directors of Square and leads KPCB's US $1 billion Digital Growth Fund (DGF). Previously, Meeker worked at Morgan Stanley, where she served as managing director and research analyst from 1991 to 2010.

Lending Club has originated more than $650 million in cumulative loans through its platform and adds more than $135 million each quarter in new loans.

Meeker joins Lending Club CEO Renaud Laplanche, former Morgan Stanley CEO John Mack, Jeff Crowe of Norwest Venture Partners, Daniel Ciporin of Canaan Partners and Rebecca Lynn of Morgenthaler Ventures on Lending Club's board of directors.

JOIN THE DISCUSSION

SEE MORE IN

'We Don't Want to Wage this Proxy Contest in the Gutter': Week's Best Quotes

The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.

(Image: Fotolia)

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

The FinTech 100

FIS and Tata once again top the annual FinTech 100 list of vendors, ranked by revenue; IBM and Hewlett-Packard lead the pack of tech companies serving multiple industries; and Bionym and Silver Tail are among the 10 Tech Companies to Watch.
DAILY ENEWSLETTER UPDATE

A Newsletter featuring Bank Technology News' top stories plus special reports and data

This feature displays payments industry news and analysis from American Banker sibling brand PaymentsSource. Registration is required; for more information contact customer service.

TWITTER
FACEBOOK
LINKEDIN
Already a subscriber? Log in here
Please note you must now log in with your email address and password.