Lending Club, an online market place for loans which is backed by Google Ventures, is seeking to raise $500m from its IPO.
US-based online loan marketplace Lending Club, which is backed by the corporate venturing unit of internet company Google, has filed for an initial public offering [IPO] that could raise up to $500m.
Lending Club, which was formed in 2007, is a peer-to-peer lending network connecting investors and borrowers.
Money raised from the IPO is likely to be allocated towards paying of a term loan the company used to fund its acquisition of credit marketplace Springstone in April for $140m.
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