US-listed search engine provider Google has bought a minority stake in unsecured personal loans provider Lending Club as part of a $125m secondaries deal.

Google and venture capital firm Foundation Capital, were among buyers acquiring shares from existing investors in Lending Club at a reported $1.55bn valuation.

David Lawee, vice-president of corporate development at Google, will take an observer seat on Lending Club’s board. In December, Lawee was reported by newswire Reuters to be moving from mergers and acquisitions at…

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