Doug Lebda, LendingTree founder and online lending pioneer, died Sunday in an all-terrain vehicle accident, the company announced Monday. He was 57.
LendingTree Inc. announced Lebda’s death and extended condolences to his family. The company said its board, management, and team send their heartfelt condolences during this challenging time. Details of the October 12 accident were not released. This announcement began a series of leadership changes at LendingTree.
Lebda founded the Charlotte-based fintech firm in 1996 to bring transparency to mortgage lending. His idea — a digital marketplace for lenders to compete for borrowers — changed how consumers approached financial decisions. Over nearly three decades, LendingTree grew into a major online platform, connecting consumers with lenders for mortgages, credit cards, personal loans, and insurance.
Under Lebda, LendingTree expanded its mission. The company simplified financial choices for millions. The board said, “Doug’s vision centered around simplifying financial decisions and fostering opportunities for everyone. His innovation transformed how financial products are accessed.”
LendingTree’s board appointed Scott Peyree, formerly Chief Operating Officer and President, as its new President and CEO, following Lebda’s passing. Peyree, who joined via the 2018 QuoteWizard acquisition, has played a key role in the company’s growth.
“I am deeply honored to carry forward the vision Doug built,” Peyree said in a company statement. “He was a mentor, a friend, and a leader who inspired excellence. Together with our incredible team, we will continue the mission of helping consumers make confident financial choices.”
The board also named Steve Ozonian, a member since 2008, as its new Chairman. Ozonian expressed confidence in Peyree’s leadership and commitment to honoring Lebda’s legacy and focus on innovation.
Analysts called the appointments a clear sign of stability after an unexpected tragedy. A fintech analyst told CNBC, “The company acted fast to ensure executive continuity, reassuring both investors and employees. Lebda’s vision drives LendingTree’s culture and business model.”
LendingTree employs about 940 people nationwide, including over 300 at its Charlotte headquarters. The firm partners with more than 430 financial institutions and recently reported a 43 percent year-over-year increase in first-quarter revenue, from $167.8 million to $239.7 million.
Industry peers and North Carolina officials remembered Lebda as an innovator and community builder. Former Governor Pat McCrory, a past board member, wrote, “North Carolina has lost one of America’s greatest entrepreneurs. Doug could have headquartered LendingTree anywhere, but chose Charlotte.”
Beyond his achievements in fintech, Lebda was regarded as a passionate advocate for financial literacy and access. Colleagues shared that his leadership radiated care, inclusion, and a passion for empowering others—a spirit they vowed would carry on under Peyree’s direction. Life will continue to drive everything we do.”
As the company navigates this transition, it remains focused on honoring its founder’s legacy. “Doug’s company navigates this transition; it remains focused on honoring its founder’s legacy. “Doug’s entrepreneurial spirit and commitment to empowering consumers will define LendingTree,” Peyree added
