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Lending Club, the peer lending service for Facebook users, has closed a $10.26 million Series A round of funding. The round was led by Canaan Partners and Norwest Venture Partners.
The funding will go towards business expansion past its Facebook application. This seems like the sensible way to go for Lending Club. Creating a Facebook application at the onset of the social network opening its platform was beneficial move and helped it gain a great deal of traction.