The deal is worth $185mn in cash and stock.
LendingClub had its IPO in 2014 and was valued at $8.5mn.
It wants to reestablish itself in the market as a fully fledged bank.
Radius is a smaller lender which wants to team up with FinTechs who need to work with a regulated institution. This deal marks the first purchase of a bank by a FinTech.
The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms
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