LendingClub Raises $24.5M In Series C

Lending Club has raised $24.5 million in Series C funding from Foundation Capital, Morgenthaler Ventures, Norwest Venture Partners, and Canaan Partners.  The company now has a total of $52.7 million in funding.  The additional funding will be used to advance their existing platform which allows lenders and borrowers to avoid the middleman (banks) for investing among peers.  This round of funding will also be used for launching new products, marketing, and improving customer service. [PRNewsWire]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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