4 things to know about LendingTree, the Charlotte fintech whose CEO died suddenly
AI-generated summary reviewed by our newsroom.
- LendingTree founder Doug Lebda died in an ATV crash; COO Scott Peyree becomes CEO.
- LendingTree operates an online lending and insurance marketplace with 500+ partners.
- Company posted five straight quarters of revenue growth; FY revenue guide near $1B.
Almost 30 years ago, Doug Lebda was trying to secure his first mortgage. The process, as many homeowners know, is not easy.
He sought to simplify that process and in 1996 the Charlotte fintech company, LendingTree, was born. Lebda died on Oct. 12 in an all-terrain vehicle crash. He was 55. Details regarding the crash, reportedly at a family farm in North Carolina, weren’t immediately released.
Here are more details on what LendingTree is and the legacy of the company Lebda has left behind.
What is LendingTree?
LendingTree is an online marketplace where borrowers can browse multiple loan providers to find the best option.
The website offers a number of options for loans, including providers for personal loans, business loans, student loans, credit cards and mortgages. The latter is what moved Lebda to create the site. There’s also an insurance marketplace for home, auto and rental.
LendingTree partners with over 500 financial institutions to provide plenty of options for consumers.
By signing up for the site, borrowers can also receive free credit scores, credit monitoring and information on improving credit scores. The site also offers educational material on topics such as medical debt and retirement funds.
It’s a one-stop shop to find a lending provider and learn more about a financial topic.
Who works for LendingTree?
The site has about 940 employees, with more than 300 based in LendingTree’s Charlotte headquarters. It currently has a space in Vantage South End.
The company has had issues with its employee base, mainly missed agreements to increase staff.
LendingTree failed to create 314 jobs in Charlotte, under a 2016 agreement under the Job Development Investment Grant program from the N.C. Economic Investment Committee. In July, the company lost its performance-based incentive grants from the state for 2022 and 2023 because of that failure.
And last year, LendingTree asked to end a 2018 agreement with the Mecklenburg County to create 36 high-paying jobs over five years.
What is LendingTree worth?
In July, LendingTree announced that it had five consecutive periods of year-over-year revenue growth.
A large portion of that growth stemmed from the insurance side of the site, according to the company’s second quarter earnings report. The insurance business, the report reads, had revenue up 21% year-over-year.
At the end of the second quarter, LendingTree had consolidated revenue of $250.1 million. By the end of the year, LendingTree expects to have a total revenue between $1 billion to $1.05 billion.
What’s next for LendingTree?
Lebda was LendingTree’s CEO and chairman. Effective immediately, Lending Tree’s chief operating officer Scott Peyree was appointed by the board to serve as the company’s president and chief executive officer.
Lead Independent Director Steve Ozonian will serve as board chairman, effective immediately. Company leaders said in a statement that they mourned Lebda’s loss and plan to continue to carry out his vision for the company.
LendingTree’s next earnings report will be released Oct. 30.
This story was originally published October 13, 2025 at 4:50 PM.
