LendingClub Acquires AI-Powered Spending Intelligence Platform
LendingClub has acquired Cushion, an AI-powered spending intelligence platform, to enhance its mobile financial products. Cushion's technology helps track bills, manage subscriptions, build credit, and monitor BNPL loans. The platform previously served over one million consumers and raised $21 million in funding.
The acquisition follows LendingClub's purchase of Tally in Q4 2024 and will expand their ability to provide visibility into consumer financial obligations. Cushion's founder, Paul Kesserwani, joins LendingClub as Senior Director of Product, leading Digital Engagement.
This strategic move aims to complement LendingClub's DebtIQ experience, helping their five million members manage debt and spending more effectively, particularly relevant as credit card balances and interest rates reach historic highs.
LendingClub ha acquisito Cushion, una piattaforma di intelligenza artificiale per la gestione delle spese, per migliorare i suoi prodotti finanziari mobili. La tecnologia di Cushion aiuta a monitorare le bollette, gestire gli abbonamenti, costruire il credito e controllare i prestiti BNPL. La piattaforma ha già servito oltre un milione di consumatori e raccolto 21 milioni di dollari di finanziamenti.
L'acquisizione segue l'acquisto di Tally da parte di LendingClub nel quarto trimestre del 2024 e amplierà la loro capacità di offrire trasparenza sulle obbligazioni finanziarie dei consumatori. Paul Kesserwani, fondatore di Cushion, entra in LendingClub come Direttore Senior di Prodotto, guidando l'Engagement Digitale.
Questa mossa strategica mira a integrare l'esperienza DebtIQ di LendingClub, aiutando i loro cinque milioni di membri a gestire meglio debiti e spese, un aspetto particolarmente importante con i saldi delle carte di credito e i tassi di interesse ai massimi storici.
LendingClub ha adquirido Cushion, una plataforma de inteligencia de gastos potenciada por IA, para mejorar sus productos financieros móviles. La tecnología de Cushion ayuda a rastrear facturas, gestionar suscripciones, construir crédito y monitorear préstamos BNPL. La plataforma ya ha atendido a más de un millón de consumidores y ha recaudado 21 millones de dólares en financiamiento.
La adquisición sigue a la compra de Tally por parte de LendingClub en el cuarto trimestre de 2024 y ampliará su capacidad para ofrecer visibilidad sobre las obligaciones financieras de los consumidores. Paul Kesserwani, fundador de Cushion, se une a LendingClub como Director Senior de Producto, liderando el compromiso digital.
Este movimiento estratégico busca complementar la experiencia DebtIQ de LendingClub, ayudando a sus cinco millones de miembros a gestionar mejor sus deudas y gastos, especialmente relevante dado que los saldos de tarjetas de crédito y las tasas de interés alcanzan niveles históricos.
LendingClub가 모바일 금융 상품을 강화하기 위해 AI 기반 지출 인텔리전스 플랫폼인 Cushion을 인수했습니다. Cushion의 기술은 청구서 추적, 구독 관리, 신용 구축 및 BNPL 대출 모니터링을 지원합니다. 이 플랫폼은 이전에 100만 명 이상의 소비자에게 서비스를 제공했으며 2,100만 달러의 자금을 조달했습니다.
이번 인수는 LendingClub이 2024년 4분기에 Tally를 인수한 데 이은 것으로, 소비자의 금융 의무에 대한 가시성을 확대할 것입니다. Cushion의 창립자 Paul Kesserwani는 LendingClub에 선임 제품 이사로 합류하여 디지털 참여를 이끌 예정입니다.
이 전략적 조치는 LendingClub의 DebtIQ 경험을 보완하여 500만 회원이 부채와 지출을 보다 효과적으로 관리할 수 있도록 돕는 것을 목표로 하며, 특히 신용 카드 잔액과 이자율이 사상 최고치를 기록하는 상황에서 더욱 중요합니다.
LendingClub a acquis Cushion, une plateforme d'intelligence des dépenses alimentée par l'IA, afin d'améliorer ses produits financiers mobiles. La technologie de Cushion aide à suivre les factures, gérer les abonnements, construire le crédit et surveiller les prêts BNPL. La plateforme a déjà servi plus d'un million de consommateurs et levé 21 millions de dollars de financement.
Cette acquisition fait suite à l'achat de Tally par LendingClub au quatrième trimestre 2024 et élargira leur capacité à fournir une visibilité sur les obligations financières des consommateurs. Paul Kesserwani, fondateur de Cushion, rejoint LendingClub en tant que Directeur Principal Produit, en charge de l'engagement numérique.
Cette démarche stratégique vise à compléter l'expérience DebtIQ de LendingClub, aidant leurs cinq millions de membres à mieux gérer leurs dettes et leurs dépenses, particulièrement pertinent alors que les soldes de cartes de crédit et les taux d'intérêt atteignent des niveaux historiques.
LendingClub hat Cushion, eine KI-gestützte Ausgaben-Intelligenz-Plattform, übernommen, um seine mobilen Finanzprodukte zu verbessern. Die Technologie von Cushion hilft dabei, Rechnungen zu verfolgen, Abonnements zu verwalten, Kredit aufzubauen und BNPL-Darlehen zu überwachen. Die Plattform hat zuvor über eine Million Verbraucher bedient und 21 Millionen Dollar an Finanzierung erhalten.
Die Übernahme folgt auf den Kauf von Tally durch LendingClub im vierten Quartal 2024 und wird ihre Fähigkeit erweitern, Einblick in die finanziellen Verpflichtungen der Verbraucher zu bieten. Paul Kesserwani, Gründer von Cushion, tritt LendingClub als Senior Director of Product bei und leitet das digitale Engagement.
Dieser strategische Schritt soll die DebtIQ-Erfahrung von LendingClub ergänzen und den fünf Millionen Mitgliedern helfen, Schulden und Ausgaben effektiver zu verwalten – besonders relevant, da Kreditkartensalden und Zinssätze historische Höchststände erreichen.
- Acquisition of Cushion's AI technology expands LendingClub's digital banking capabilities
- Integration with recent Tally acquisition creates comprehensive credit management ecosystem
- Access to Cushion's 1M+ customer data and transaction insights
- Strategic talent acquisition including Cushion's founder for product leadership
- Technology enhances visibility into consumer financial obligations beyond traditional credit monitoring
- Acquired company (Cushion) ceased operations in early 2025, indicating potential operational challenges
- Financial terms of acquisition not disclosed, limiting transparency
- Integration costs and timeline for technology implementation not specified
Insights
LendingClub bolsters debt management capabilities through strategic Cushion IP acquisition, enhancing visibility into consumer financial obligations.
LendingClub's acquisition of Cushion's intellectual property and talent represents a strategic enhancement to their financial management capabilities. The acquired AI technology, which processes transaction data to track bills and subscriptions, directly complements their existing DebtIQ experience. This follows their Q4 2024 Tally acquisition, establishing a pattern of targeted technology acquisitions aimed at building a comprehensive consumer debt management platform.
The timing is particularly relevant with credit card balances and interest rates at historic highs, addressing a growing consumer need for better debt visibility and management tools. Cushion previously served over one million consumers and had raised
From an integration perspective, acquiring assets from a company that ceased operations presents both opportunity and challenge. The addition of Cushion's founder as Senior Director of Product leading Digital Engagement suggests commitment to fully integrating this technology. Ultimately, this acquisition potentially strengthens LendingClub's value proposition as a comprehensive financial wellness platform for their five million members.
LendingClub enhances its digital banking proposition through acquisition of Cushion's AI technology, strengthening customer engagement potential.
This acquisition marks a significant step in LendingClub's transformation from a peer-to-peer lending platform into a full-service digital marketplace bank. By incorporating Cushion's AI capabilities to track bills, manage subscriptions, and monitor buy-now-pay-later loans, LendingClub is positioning itself at the intersection of consumer financial management and banking services.
The banking sector increasingly competes on customer experience and engagement metrics, and this technology addresses a critical pain point - helping consumers understand and manage their debt obligations. The strategic value lies in creating a more comprehensive view of customer finances beyond traditional credit monitoring, which could improve customer retention and cross-selling opportunities.
This move represents the second fintech acquisition in six months (following Tally in Q4 2024), demonstrating a coherent strategic direction toward building an integrated financial wellness platform. For a digital bank with five million members, enhanced engagement tools that address real consumer pain points can meaningfully impact customer lifetime value. The technology acquisition should eventually allow LendingClub to deliver deeper insights into customer financial obligations, potentially increasing primary banking relationships.
Cushion's technology to complement and enhance LendingClub's suite of mobile financial products and experiences
Cushion's AI-powered technology ingests users' bank transactions and purchase information to help them track their bills, make on-time payments, manage subscriptions, build credit, and monitor buy now, pay later (BNPL) loans. Founded in 2016,
"LendingClub is committed to helping consumers improve their financial standing by providing visibility into their debt and then offering cost-effective ways to pay down that debt," said Scott Sanborn, CEO of LendingClub. "Cushion's technology complements our DebtIQ experience to provide our members with the tools and information they need to take control of their debt and spending. With credit card balances and interest rates at historic highs and consumers seeking ways to keep more of what they earn, the need for our solution has never been greater."
"I'm excited to bring Cushion's technology and expertise to LendingClub's five million members," said Paul Kesserwani, founder of Cushion and now Senior Director of Product, leading Digital Engagement at LendingClub. "Over the past eight years, we've built one of the most advanced platforms for aggregating alternative financial data and unlocking deeper visibility into transactions – critical areas for helping consumers understand and manage their financial obligations."
Adopting Cushion's technology will eventually allow LendingClub to provide much-needed visibility into a consumer's financial obligations beyond traditional credit monitoring. It builds on LendingClub's acquisition of Tally in Q4 2024, which will simplify credit card management, help users optimize payments, reduce interest, and improve credit health.
Cushion ceased operations in early 2025, after which time its assets became available for purchase.
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
Safe Harbor Statement
Some of the statements above, including statements regarding the expected benefits of acquiring Cushion's intellectual property assets and select talent, 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 integrate the acquired assets 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.
Contacts
For Investors: IR@lendingclub.com
Media Contact: Press@lendingclub.co
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SOURCE LendingClub Corporation
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