LendUp splits in two, names new CEO

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LendUp is splitting in two, with the company continuing to focus on subprime lending while a new business called Mission Lane focuses on the fintech’s credit card operations. Talk of a possible split at the San Francisco-based fintech emerged in October, with some speculating that investors placed greater value on the company’s two main lines of business as separate entities. “Both are valuable businesses, but valued differently. The loans business is profitable, and there’s a lot of investor...

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