The partnership aims to accelerate LendingClub’s move into this space by allowing the company to leverage Wisetack’s network of 40,000 contractor merchants and dozens of embedded software-as-a-service partnerships, the companies said in a Wednesday (Nov. 5) press release.
Wisetack is a platform for home improvement financing, according to the release.
In the initial phase of the companies’ partnership, LendingClub will purchase participation certificates in early 2026 from Wisetack’s forward flow loan production, the release said.
In the second phase, beginning in mid-2026, LendingClub will begin using its own underwriting model to originate home improvement financing loans that are larger than those currently available on Wisetack’s platform, per the release.
“We’re excited to extend our underwriting and customer experience advantages to home improvement, a $500 billion industry that’s ripe for innovation,” LendingClub Chief Lending Officer Steve Mattics said in the release. “This is a natural next step in our journey to help consumers borrow smarter while enabling partners to grow with greater consistency and trust.”
Wisetack Founder and CEO Bobby Tzekin said in the release that the partnership brings together LendingClub’s trusted brand, underwriting performance, infrastructure and digital experience with Wisetack’s technology and contractor network.
“Together, we’re creating a more transparent, reliable financing experience for homeowners and smooth funding for contractors — helping everyone in the ecosystem grow with confidence and borrow smarter,” Tzekin said.
LendingClub reported in October that it saw 37% growth in loan originations in the third quarter, taking it to $2.6 billion, the highest level in three years.
During a conference call with analysts, LendingClub CEO Scott Sanborn said that the loan growth reflected “strong demand from both consumers and loan investors, and our increased marketing efforts,” adding that marketplace revenues were 75% [to $108 million], and the structured certificate sales topped $1 billion.
In August, investment management giant BlackRock inked a new agreement with LendingClub that will see funds and accounts managed by BlackRock advisers invest up to $1 billion through LendingClub’s marketplace programs through next year.
This collaboration followed BlackRock’s first transaction of $100 million under LendingClub’s LENDR (LendingClub Rated Notes) program, which closed in June.
