Aqush, a prominent Japanese social lending service, announced today that it has partnered with US-based Lending Club to form a new fund, giving Japanese lenders easier access to fundraising projects in America. For Japanese users interested in investing in US-based projects, you usually need to set up a local banking account there. As a result of this new partnership, Japanese lenders can invest in such projects by paying an additional 1.5% surcharge.
Lending Club was launched back in 2007, and has handled personal loans worth a total of more than $1.9 million. The company raised $125 million from Google back in May.
Exchange Corporation (or ExCo for short) is the company behind Aqush. It was launched by former investment banker Russel Cummer back in 2008, and subsequently received an undisclosed amount of investment from Silicon Valley-based startup fund 500 Startups back in 2010.