LendingClub co-founder Soul Htite leads funding of Credible

San Francisco-based Credible, which operates a platform for borrowing and refinancing student loans, raised a $10 million Series A round of funding led by Soul Htite, founder and CEO of Dianrong.com and co-founder of LendingClub. Ron Suber, president of Prosper, also participated in the round, along with peer-to-peer lending investor Scott Langmack. The company previously raised $2.7 million in seed funding from multiple investors and individuals, including Carthona Capital, Redbus Group, Mark Goines and Bruce Gibney. PRESS RELEASE Credible Closes $10 Million in Series A Funding, Signaling a New Era of Transparency in Student Lending Credible answers the increasing demand for choice in online lending San Francisco, CA (September 29, 2015) – Credible (credible.com), the multi-lender student loan marketplace, allows borrowers to receive competitive loan offers from its vetted lending partners. Credible’s goal is to empower borrowers with more options to finance and refinance their student loans. The $10 million in Series A funding is led by Soul Htite, Founder & CEO of Dianrong.com and Co-founder of LendingClub, with participation from Ron Suber, President of Prosper, and online lending pioneer Scott Langmack. “We’re building Credible for the future of online lending – providing borrowers with choice, better information, and simplicity of process”, said Stephen Dash, Founder & CEO of Credible. “Simply put, we are making student loans more fair. In Soul, Ron and Scott, we have three of the most experienced individuals in online lending which will allow us to accelerate our growth.” As an independent, multi-lender marketplace that has been adopted by some of the most prestigious organizations in the country, including the American Medical Association, the American Pharmacists Association, and Georgia Tech Alumni Association, Credible provides borrowers with unbiased information and multiple offers from its lending partners. “The speed of innovation occurring in financial services has created a once in a generation opportunity” said Soul Htite. “Credible’s unique model is fundamentally changing the dynamics of the loan selection process. We see Credible as a core fixture of the next phase of online lending.” About Credible Credible’s founding principle is to provide borrowers the level of transparency they deserve. As a multi-lender marketplace that allows borrowers to receive competitive loan offers from its vetted lenders, Credible empowers consumers to take control of their student loans. Borrowers can fill out one form, then receive and compare personalized offers from numerous lenders and choose which best serves their individual needs. Credible is fiercely independent, committed to delivering fair and unbiased solutions in student lending. Existing investors include Mark Goines, Carthona Capital, Redbus Group, and Bruce Gibney.

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LendingClub co-founder Soul Htite leads funding of Credible