LendingClub Acquires Radius Bancorp (Radius Bank)
February 1, 2021
LendingClub Corporation completed the acquisition of Radius Bancorp, Inc. and its digital banking subsidiary Radius Bank, combining LendingClub’s online lending marketplace with Radius’s award-winning digital deposit and banking-as-a-service platform. The transaction (announced in February 2020 and closed in February 2021) gives LendingClub a full-spectrum fintech marketplace bank, expands low-cost deposit funding sources, and enhances the company’s ability to offer integrated banking products and BaaS capabilities.
- Buyers
- LendingClub Corporation
- Targets
- Radius Bancorp, Inc., Radius Bank
- Sellers
- Radius Bancorp shareholders
- Industry
- Financial Services
- Location
- Massachusetts, United States
- Transaction Type
- Buyout
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