LendingClub CEO Enumerates How Going Public Has Helped The Company, Says 'We Have Confidence, We Can Keep Up With Fast Growth'

LendingClub Corp LC surprised the Street on Tuesday by not only reporting better than expected second-quarter numbers, but also upping its revnue guidance for the full year to $405–$409 million from $385–$392 million and adjusted EBITDA to $49–$53 million from $40–$46 million.

Renaud Laplanche, Lending Club founder and CEO, was on CNBC Thursday to discuss the company's growth and if going public has been beneficial for the company.

Growing Faster Than Expected

"I think, our growth rate has been much more in line with fast growing internet companies than it has or other financial service providers," Laplanche said. "Certainly we have continued to raise our guidance...We grew faster than we had told investors we would in the last quarter. But things are going well and we have confidence we can keep up with fast growth and again raised our guidance for the rest of the year."

Going Public Has Been Good For The Company

Laplanche was asked if he has ever had second thoughts about going public. He replied, "No, not at all. I think, as a public company has been good for our business. And, I think, that has helped really raised awareness for the LendingClub brand, raised credibility in the brand where the public sees us operate as a public company with a lot of transparency."

I think, by going public we have signaled that we are here to stay and we want to sort of build a mainstream company. And all that has been helpful in terms of conversion on our website, in terms of the trust that customers place in the brand, in terms of partnerships as well. So, overall it has been positive," Laplanche said.