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LendingClub Exceeds $3 Billion in Loans Sold Through Its Structured Certificates Program

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SAN FRANCISCO, June 17, 2024 /PRNewswire/ — LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank (“LendingClub”), America’s leading digital marketplace bank, today announced that it has surpassed $3 billion in loans sold through its Structured LendingClub Loan Certificates program, which launched in April 2023.

“Our structured certificates program is gaining strong momentum among our loan investors because they recognize the value of consumer credit as an asset class, the quality of our underwriting, and our streamlined financing solutions,” said Scott Sanborn, CEO of LendingClub. “The success of this program, which is unique to us, is another indicator of our status as a provider of choice in this asset class.”

LendingClub’s structured certificates program is a two-tranche private securitization in which LendingClub retains the senior note and sells the residual certificate on a pool of loans to a marketplace investor at a predetermined price, effectively providing built-in financing.

This program, enabled by LendingClub’s unique marketplace bank model, benefits both marketplace investors and the bank. Marketplace investors earn compelling risk-adjusted levered returns with low-friction and low-cost financing on a liquid security, and LendingClub earns an attractive yield with remote credit risk.

“As the industry leader, we have a track record of substantially lower delinquencies compared to our competitive set, which is key to delivering strong returns for ourselves and our marketplace investors,” continued Sanborn. “That outperformance has resulted in existing partners renewing their commitments, and new investors coming to the LendingClub platform.”

Throughout its long history, LendingClub has offered a range of industry-first, unique product structures to expand investor access to consumer credit, broaden distribution, and improve liquidity for all investors. The structured certificates program is just the latest example of that leading innovation.

About LendingClub

LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. LendingClub Bank is the leading digital marketplace bank in the U.S., where members can access a broad range of financial products and services designed to help them pay less when borrowing and earn more when saving. Based on more than 150 billion cells of data and over $90 billion in loans, our advanced credit decisioning and machine-learning models are used across the customer lifecycle to expand seamless access to credit for our members, while generating compelling risk-adjusted returns for our loan investors. Since 2007, more than 4.9 million members have joined the Club to help reach their financial goals. For more information about LendingClub, visit https://www.lendingclub.com. 

Safe Harbor Statements

The series notes and residual certificates issued in the LendingClub Structured Certificates Program have not been and will not be registered under the Securities Act of 1933 or any state or other jurisdiction’s securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state or other jurisdiction securities laws.

This press release will not constitute an offer to sell or the solicitation of an offer to buy the series notes or residual certificates or any other securities, nor will there be any offer, solicitation or sale of the series notes, the residual certificates or any other securities in any state or other jurisdiction in which the offer, solicitation or sale would be unlawful.

Some of the statements above, including statements regarding the performance and growth of the Structured Certificates Program, are forward-looking statements. The words “expect”, “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “will,” “would” and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include LendingClub’s ability to continue to attract and retain new and existing borrowers and platform investors, the macroeconomic environment, default rates and those factors set forth in the section titled “Risk Factors” in LendingClub Corporation’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, as well as in subsequent filings by LendingClub Corporation with the Securities and Exchange Commission. LendingClub may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. LendingClub does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact:

For Investors: IR@lendingclub.com

Media Contact: Press@lendingclub.com

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SOURCE LendingClub Corporation

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Ridero Raises $2.7 Million to Tackle Vehicle Affordability Through AI-Powered Financial Infrastructure

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Backed by RiverPark Ventures, NY Ventures, Green Egg Ventures, Blackpoint Capital, and Potamkin Ventures, Ridero is expanding access to flexible vehicle financing.

NEW YORK, Nov. 9, 2026 /PRNewswire/ — Ridero, an AI-powered automotive financial infrastructure company, today announced $2.7 million in total pre-seed funding, with backing from RiverPark Ventures, NY Ventures, Green Egg Ventures, Blackpoint Capital, and Potamkin Ventures.

The funding will accelerate Ridero’s mission to address the growing vehicle affordability crisis by enabling financial institutions and automotive retailers to offer more flexible financing options at scale.

As vehicle prices and financing costs continue to pressure American households, traditional automotive financing products have struggled to keep pace with changing consumer needs. Ridero is building the technology infrastructure to expand access to alternatives to conventional auto loans, including new- and used-vehicle leasing and balloon financing.

“Millions of vehicles have historically been difficult to lease because the financial infrastructure needed to support them at scale hasn’t existed,” said Brock Thompson, Co-Founder and CEO of Ridero. “We’re building that infrastructure to give lenders and dealers more ways to make vehicles affordable and accessible,” said Natalie Williams, Co-Founder and CTO of Ridero.

Ridero’s platform combines AI-powered deal structuring, risk analytics, and automated lender connectivity to help financial institutions launch, distribute, and manage residual-based financing products.

The company’s technology is already in use at dealerships across the Northeast and Southern United States. Ridero has also established a strategic partnership with Auto Financial Group (AFG) to expand access to residual-based financing products and integrated with Tekion to bring its financing capabilities into existing dealership workflows.

Ridero is advancing additional strategic partnerships and technology integrations with financial institutions and automotive technology providers.

The funding will support continued product development, expansion of institutional partnerships, and growth of Ridero’s team.

About Ridero

Ridero is an AI-powered financial infrastructure company modernizing automotive finance. Its platform connects financial institutions and automotive retailers, enabling the launch, distribution, and management of flexible vehicle financing products, including new- and used-vehicle leasing and balloon financing.

Ridero was founded by Brock Thompson and Natalie Williams, who bring complementary backgrounds in institutional investing and artificial intelligence. Thompson previously worked at The Carlyle Group and The Amherst Group, while Williams came from Capstone Investment Advisors and UBS. Both founders attended Columbia University together.

Website: ridero.ai

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SOURCE Ridero

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OpenHear BM420 Named a CES® 2027 Innovation Awards® Honoree

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Recognized in the Accessibility & Longevity category, the open-ear bone conduction hearing aid reflects Shokz’s expanding expertise in hearing care

AUSTIN, Texas, Nov. 9, 2026 /PRNewswire/ — Shokz, a pioneer in open-ear audio technology, today announced that OpenHear BM420 has been named a CES® 2027 Innovation Awards® Honoree in the Accessibility & Longevity category. Developed by Shokz’s affiliated professional hearing-care company ShokzHear, the device reflects the application of Shokz’s bone conduction expertise to hearing solutions designed with comfort, accessibility and everyday wearability in mind.

OpenHear BM420 is a professionally fitted, non-surgical bone conduction hearing aid designed to provide an alternative to traditional in-ear hearing aids and implantable bone conduction solutions. Its open-ear design keeps the ear canal unobstructed for comfort during extended wear, while individually adjustable hearing settings, directional microphones and background noise reduction help improve speech clarity in everyday environments.

“In hearing care, performance matters, but so does whether people feel comfortable wearing a device day after day,” said Fengyun Liao, Director of ShokzHear. “OpenHear BM420 brings our experience in open-ear bone conduction technology to that challenge, offering an alternative designed around both hearing assistance and everyday comfort. We’re honored to have this approach recognized by the CES Innovation Awards®.”

This recognition comes as Shokz prepares for CES 2027, where the company will showcase continued innovation in open-ear technology, including expanding applications beyond traditional audio.

OpenHear BM420 will be available beginning November 20, 2026, in the U.S. through participating hearing centers, ENT clinics and hospitals.

The CES Innovation Awards® program, owned and produced by the Consumer Technology Association (CTA)®, is an annual competition recognizing outstanding design and engineering in consumer technology. Entries are evaluated by a panel of industry experts, including engineers, designers and members of the media. The 2027 honorees, including product descriptions and images, can be found at ces.tech/ces-innovation-awards.

To learn more about Shokz, ShokzHear, OpenHear BM420 or the complete OpenHear Series, visit ShokzHear.com or follow @ShokzHear on Instagram, LinkedIn and YouTube.

About ShokzHear
ShokzHear is an affiliated company of Shokz, a global leader in bone conduction technology and open-ear acoustics. Drawing on more than a decade of innovation in consumer audio, ShokzHear is dedicated to advancing professional hearing care through accessible and comfortable hearing solutions, leveraging its expertise across both bone conduction and air conduction technologies. Its OpenHear series combines innovative acoustic engineering with everyday wearability, helping eligible individuals with hearing loss experience a different, more comfortable way to hear. Learn more about the brand at ShokzHear.com.

About CES®
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA)®, CES features every aspect of the tech sector. CES 2027 takes place Jan. 6-9, 2027, in Las Vegas. Learn more at CES.tech and follow CES on social.

The CES® Innovation Awards® are based upon descriptive materials submitted to the judges. CTA did not verify the accuracy of any submission or of any claims made and did not test the item to which the award was given.

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SOURCE SHOKZ

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Bankers Expect Higher Funding Costs as Outlook for Loan Demand Softens

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ARLINGTON, Va., Nov. 9, 2026 /PRNewswire/ — Bank executives expect a tougher operating environment over the next year, with continued pressure on funding and little improvement in loan demand, according to a survey by fintech IntraFi.

Eighty-seven percent of respondents expect funding costs to increase in the next 12 months, up 84 points from the third quarter of 2025.

“Bankers are facing pressure on both sides of the balance sheet,” said Mark Jacobsen, CEO and cofounder of IntraFi. “The challenge is how to pursue growth without sacrificing profitability or stretching balance sheets. That puts a premium on disciplined pricing, strong customer relationships, and flexibility in how banks fund their business.”

IntraFi’s third quarter Bank Executive Business Outlook Survey was conducted online from October 5 to October 19, 2026, and includes responses from 411 bank CEOs, presidents, CFOs, and COOs nationwide.

Bond market volatility is also shaping bankers’ outlook. Over the next 12 months, 58% said the most significant potential effect of current long-term interest rates and bond market volatility on their securities portfolios would be higher funding costs or pressure on net interest margins. Another 16% cited further unrealized losses that could limit capital flexibility.

Other key findings

Balance sheet strategy: 47% are maintaining their current strategies, while 22% are accepting lower securities balances to make room for loans or cash and liquidity.Economy: 83% expect economic conditions to worsen or remain unchanged over the next 12 months.Access to capital: 78% expect access to capital to remain unchanged.Mortgages: 74% are not pursuing products or programs to help homeowners locked into low mortgage rates move or upgrade their homes.

Download the full report.

About IntraFi

A trusted partner chosen by more than 3,000 financial services companies, IntraFi defines success not by the volume of transactions it enables, but by the quality of relationships it forms. Its network, established over 20 years ago, connects institutions of all sizes to help participants build stronger relationships with their customers, fund more loans, seamlessly manage their liquidity needs, and earn fee income.

The network brings scale, giving each participant access to tens of billions of dollars in funding, the highest per-depositor and per-bank capacity, and the peace of mind of being able to make large-dollar placements.

View original content:https://www.prnewswire.com/news-releases/bankers-expect-higher-funding-costs-as-outlook-for-loan-demand-softens-302933750.html

SOURCE IntraFi

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