LendingClub / Radius Bank 2020
LendingClub acquired Radius Bank for $185M on December 31, 2020.
- Target
- Radius Bank
- Acquirer
- LendingClub
- Deal value
- $185M
- Announced
- December 31, 2020
- Sub-sector
- Neobank
Transaction overview
- LendingClub announced the acquisition of Radius Bank on December 31, 2020 for $185M.
Strategic rationale
Enable LendingClub to become a publicly-traded neobank with full banking capabilities and deposit access.
Deal terms & multiples
Sources
- crowdfundinsider.com /2020/12/170838-happy-new-year-lendingclubs-acquisition-of-radius-bank-approved-by-the-occ/