Dear Clients and Investors,

Patch of Land, Inc and its team was acquired in July of 2021. As part of our continuing efforts to wind down legacy operations, we have discontinued the legacy online portal as of August 15th, 2023

If you require legacy records or have any questions regarding past investment projects, please contact us at this address: [email protected]. Tax statements will still be timely delivered to the client addresses we have on file.

The Patch of Land Blog

Learn about all the latest happenings.

Lending Club's Strong IPO Leads the Way for Marketplace Lending

On Thursday morning, the New York Stock Exchange debuted its newest member from Silicon Valley, Lending Club (LC). The Marketplace lending FinTech firm came roaring onto the scene with a share price of $24.75, that's 65% higher than the $15/share price it had announced the night before. During its initial public offering, LC offered 58 million shares at $15, raising $870 million with an estimated valuation of $5 billion or more. Out of the 58 million shares 50,300,000 are offered by LC, while the remainder are being made available by selling stockholders.

LC has been in business for seven years and is the leader in marketplace lending, having funded $6.2 billion in loans and setting the pace for other FinTech companies in the online lending space, a $3 trillion industry. According to LC, the company has successfully paid upwards of $600 million in interest back to their investors, which equates to a return on investment of approximately 8.5%.

“We’ve been building lots of safeguards to ensure there is a great experience for all types of investors, including retail investors. The institutional investors we have at Lending Club are not credit hedgefunds–they’re long-term, patient investors: pension funds, insurance companies, endowments, foundations,” expressed Renaud Laplanche (CEO of LC).

Related Article: Patch of Land Announces Public Fundraising on SeedInvest

Here at Patch of Land, we want to congratulate LC for their tremendous success with their IPO. As we all watch with anticipation, we are happy to see marketplace lending and FinTech receive the recognition it rightly deserves. With other marketplace lending companies such as OnDeck Capital and SoFi preparing for their own IPO, it will be interesting to see what the future holds for the online lending industry as a whole.

What are your thoughts on Lending Club's IPO? How do you foresee the outlook of marketplace lending? Please leave a comment with your thoughts and let us know.



If you want to learn more, take a look at some of the most commonly asked questions we receive about real estate crowdfunding on a daily basis and find out why so many people are crowdfunding real estate projects across the country with Patch of Land.
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