A look through LendingClub’s Q4 2020 earnings
- LendingClub’s latest earnings report revealed an originations increase of 56 percent which surpassed the high end of its guidance range.
- Last month, Lending Club officially repositioned itself as a marketplace bank through its acquisition of Radius Bank.
LendingClub’s Q4 earnings showed a 56 percent increase in origination volumes to $912 million, exceeding the high end of the fintech’s previously provided guidance range.
The release also depicted a 77 percent increase in related transaction fees and a reduction in expenses from the third quarter of 2020. Last month, LendingClub completed its acquisition of Radius Bank and officially launched itself as a marketplace bank. A marketplace bank uses APIs to offer customers homegrown and partner products through transaction integration and processing capabilities.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account