In today's episode, Ryan Zauk sits down with fintech pioneer Renaud Laplanche, Upgrade Founder & Former LendingClub CEO. Some say LendingClub kicked off the modern fintech era with its digital lending solution, and Renaud has had a front seat to this industry every step of the way through their IPO in 2014. Renaud has been recognized on Bloomberg Markets’ Most Influential List, won the Economist Innovation Award, and was recognized by the Clinton Global Initiative for expanding access to affordable credit.  After LendingClub, Renaud co-founded Upgrade. Upgrade  is a fintech platform providing affordable and responsible credit, mobile banking, and payments products to over 6 million customers in the US and Canada, and has issued over $35 billion in credit since its founding in 2017 - $8 billion just in the past year. ⁠Upgrade raised⁠ $280M Series F at a $6Bn valuation in 2021, led by Coatue and DST, and other investors including Ribbit, Dragoneer, and more. In a challenging era for consumer fintech, Upgrade has found a way to break the mold and continue growing, expanding products, making acquisitions, and more. Ryan and Renaud recorded the episode at Upgrade's beautiful SF HQ on a foggy day in San Francisco. They cover the acquisition of his first company by Oracle + how LendingClub came to be, a deep dive on Upgrade's funding model and how it translates into savings for their customers (they work with over 250 loan buyers), the Uplift acquisition and lessons learned, the importance of culture, how he structures his day, his love of sailing, and how Upgrade is utilizing AI. Episode Highlights 1:30: LendingClub founding story and Renaud's entrepreneurial origins 4:08: Why he founded Upgrade 6:17: Upgrade's target market, products, and diverse customer base 7:48: A deep dive on Upgrade's funding model and how it translate into savings for their customers 11:37: The rise of private credit and using high cost of capital funding at the other end of the market 13:45: Tactical advice to founders raising their first-ever credit facilities and warehouse lines 16:37: Acquiring Uplift, what drew Renaud to them, and key lessons/guiding principles for M&A he's learned over his career 26:15: His growth as a leader and the hardest part of his job 27:54: His lifelong love of sailing and how it has helped him as a leader 29:28: How Upgrade is deploying AI internally 31:36: Rapid fire round (managing VCs, sailing memories, fintechs he's watching, what retirement might look like) -- Renaud Laplanche is the co-founder and CEO of Upgrade. Prior to co-founding Upgrade, Renaud founded LendingClub, a Fintech pioneer that quickly became America’s largest provider of personal loans. In recent years Renaud received multiple awards and nominations. Among other distinctions, Renaud was recognized on Bloomberg Markets’ Most Influential List, an annual ranking of the World’s top 50 most influential leaders across technology, finance, and politics. Renaud also won the Economist Innovation Award, and was recognized by the Clinton Global Initiative for expanding access to affordable credit. Renaud holds the Newport-Bermuda sailing record, with the only crossing ever achieved under 24 hours. He received an MBA from HEC and London Business School and a law degree from Montpellier University in France. Ryan Zauk is the Host of the This Month in Fintech Podcast and Bay Area lead for the broader This Week in Fintech platform. In his day job, Ryan is an investor on the Ventures team at OMERS, the direct investing arm of one of the world’s largest pension plans with over $130Bn in net assets. Prior to OMERS, he worked in Morgan Stanley’s Tech Investment Banking team focused on M&A and capital markets. You can find him on Linkedin or Twitter.

Emmalyn Shaw is the Co-founder and Managing Partner at Flourish Ventures, specializing in financial services, while Satya Patel is Co-founder and Partner at Homebrew, known for fintech investments. They share their inspiring journeys in fintech, discussing early experiences that shaped their careers. The conversation dives into the challenges of investing in AI, the rise of embedded finance, and the innovation opportunities within the sector. They also recommend impactful books that have influenced their perspectives and reflect on personal milestones.

René Lacerte, founder of BILL, and Frank Mastrangelo, co-founder of Bancorp and PayAmigo, share their remarkable journeys in shaping the FinTech landscape. They reminisce about their pivotal dinner meeting in 2006 and the exhilarating experience of taking their companies public. The duo discusses the persistent challenges in global commerce, the transformative potential of blockchain and AI, and the emotional lessons learned from their fathers. Personal stories about adoption and community through sports also make for a heartwarming exploration.

Explore the transformative moments in fintech from 2024, highlighting the rise of super apps like Nubank. Discover how companies like Revolut navigated regulatory waters while facing the tension of innovation and scrutiny. Unpack the burgeoning role of stablecoins and cutting-edge AI in reducing currency volatility and enhancing security. Delve into the government's impact on innovation, including the introduction of free tax filing software. Finally, reflect on Ripple's advancements and the ethical considerations shaping the industry's future.

Join Tomer London, Co-founder and CPO of Gusto, dedicated to empowering small businesses, and Anu Hariharan, Co-founder of Avra and former Y Combinator partner, as they explore fintech's evolution. They discuss the complexities of payroll systems, the impact of AI on finance, and the transformative potential of startups. Personal insights reveal their inspirations—from historical icons to morning routines—while sharing lessons from setbacks that shaped their resilient journeys in the ever-changing fintech landscape.

In this engaging discussion, Dave Glaser, CEO of Dwolla and former executive at Visa and Mastercard, shares insights from his extensive fintech career. He delves into the evolution of payment solutions, highlighting the shift from credit cards to bank payments. Glaser discusses the impact of regulations and innovations like biometric payment technologies. Beyond fintech, he shares his journey training for an Ironman, balancing professional and personal passions while enjoying the transformative nature of triathlons.

Nik Koblov, VP of Engineering at Ramp, shares his insights on building a fast-paced, innovative engineering organization. He discusses Ramp's unique hiring practices, attracting talent from diverse backgrounds, including high school dropouts and gamers. The conversation dives into balancing rapid product launches with user experience and how Ramp leverages generative AI to enhance efficiency. Nik also emphasizes the importance of structured beta testing and nurturing young talent through internships, shaping the future of fintech.

Dive into the intriguing world of AI-powered payment agents and their impact on personal finance. Learn about the security concerns tied to delegating financial decisions to AI, including fraud and transaction disputes. The discussion reveals how neobanks like N26 are thriving while traditional institutions adapt. Explore the evolving role of AI in complex financial operations and the importance of balancing technology with financial literacy. Innovations in security measures are essential as we navigate this transformative landscape in fintech.

Tom Brown, a pivotal figure in Visa's IPO and now investing in fintech at NYCA, joins Edward Woodford, founder of ZeroHash, focused on cryptographic technology infrastructure. They discuss the evolution of fintech into next-gen financial services, tackling challenges like regulatory roadblocks and identity security. The duo celebrates innovations such as Tap to Pay and earned wage access, sharing personal stories about their career journeys, favorite books, and quirky tales. Join them for an enlightening and entertaining perspective on the fintech landscape!

Join Michael Sindicich, CEO of Navan Expense, a corporate travel innovator with a background in insurance and tech, as he discusses a groundbreaking partnership with Brex. Michael shares insights on mastering collaborations with rivals and transforming business travel through automated processes. He reflects on his unique journey, the shift towards AI in travel management, and the culture of promoting growth within tech firms. Add in some amusing stories from his travels, and it’s a compelling dive into the future of fintech!