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P2P Lending in Asia after LendingClub’s Debacle

Renaud Laplanche knew what he was doing as the founder and CEO to LendingClub (est. 2007), the largest by volume peer-to-peer lending platform in the US. He took LendingClub through the biggest IPO in 2014 for US Tech  and, that way, kick-started online lending trend and public interest on lending-related fintech. He resigned earlier this month, forced by his board of concerned directors and stakeholders following questionable practices LendingClub did under his watch. LendingClub’s shares plummeted, its loan buyers stop buying and the P2P lending future seems uncertain at best. Impacts on Asia’s P2P Lending e27 said it’s just a jab to the face of the industry, not a knock-out haymaker.  A stiff jab I might add, so it still hurts. With $ 8 Billion valuation following its ...

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