The Peerform team would like to extend a hearty congratulations to Renaud LaPlanche and the entire crew at Lending Club. With the completion of its very successful IPO last week, Lending Club has helped to boost the credibility and awareness of the entire marketplace lending industry. As a result of the IPO, it is finally safe to say the marketplace lending industry has arrived on the national and international stage.
In commenting on the opportunities that lie ahead, LaPlanche said, “We think we have the opportunity to transform the entire banking system, making it more transparent, more cost efficient, more consumer friendly.” We share these bold objectives and believe that they can and will be attained in the years to come.
There’s just one thing: Lending Club cannot do it alone. The nation’s financial services and banking system is large, complicated and has an array of clients with divergent needs. Peerform looks forward to leveraging its talented people, positioning within the industry and core intellectual property to make the lives of our customers easier and better. Borrowing and lending money should be as simple and straightforward as ordering a movie, renting a room or booking a car service online. We look forward to working alongside great American companies like Lending Club to make it so for an increasing number of Americans.
The management at Peerform is humbled and excited by the opportunity to be a part of the Financial Services industry at such an exciting time. For way too long, consumers had to play by rules set for them by stodgy institutions that seemed to care more about themselves than their customers. Thanks to our ability to use online and underwriting technologies, Peerform is proud to be one of several platforms that can offer greater choice to people seeking to obtain credit or lend out their capital.
In the months ahead, we would not be surprised if other, large marketplace lending platforms chose to capitalize on the current excitement by going public or pursing strategic transactions. We don’t know if all of these future transactions will go as well as Lending Club’s, but we are convinced of two things: the marketplace lending sector is going to have much more money and attention placed on it than in the past.
As some of our peers get bigger, better capitalized and more well known, industry dynamics could begin to change. We very much hope that the industry evolves in ways that are beneficial to the growing ranks of Americans who have participated on a platform. This industry exists today because of the trust placed in us by everyday people. At Peerform, we will never forget that.