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Online Lending Startup Earnest Said to Look for a Buyer

  • Company said to struggle to raise funds as market matures
  • Other public companies in fintech have seen shares decline
Photographer: Bloomberg
Updated on

Earnest Inc., the financial-technology startup backed by venture capital firms including Andreessen Horowitz, is looking for a buyer as the market for peer-to-peer lending matures, and it struggles to raise new funds.

The San Francisco-based company, which offers student loan refinancing as well as personal loans, is shopping itself for about $100 million, according to people familiar with the matter.