Lending Club Cuts Profit Forecasts Again

While hosting their first investor day the online lender again cut guidance for profits and shares fell to record lows; “The last 18 months have been among the most challenging of my career, but my conviction has never wavered: consumer credit is a data problem that a technology-driven marketplace is well positioned to solve,” CEO Scott Sanborn said at the investor day; Lending Club has had is share of issues and new entrants like Marcus have begun to crowd the market; not all investors are put off by the news, Chinese investor Shanda said he was keeping the faith in the lender as they recently made a big investment. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!

[class^="wpforms-"]
[class^="wpforms-"]