Lending Club Rakes It In

by Alison McNeill

Congrats! Lending Club just announced they have secured $10.26 million in Series A financing. The funding is led by Canaan Partners and Norwest Venture Partners and Lending Club says they will use the dough to expand their person-to-person lending community beyond the initial Facebook application. Since its launch in May, more than $750,000 in loans have been transacted among their users. Not too shabby. Lending Club also recently had a cool contest we covered here.

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