US peer-to-peer lender LendingClub said to reach $2.3 billion valuation in DST funding

LendingClub Corp., the largest U.S. peer-to-peer lender, received a $57 million investment from Yuri Milner’s DST Global and Coatue Management LLC as the company nears an initial public offering.

The transaction values LendingClub at $2.3 billion, said two people with knowledge of the deal, who asked not to be identified because the valuation is private. LendingClub Chief Executive Officer Renaud Laplanche said the share sale closed yesterday and consisted entirely of stock purchased from early backers.