Doug Lebda, founder and CEO of LendingTree, has died following an all-terrain vehicle (ATV) accident on Sunday, Oct. 12, the Charlotte-based fintech company announced Monday. He was in his mid-50s.

LendingTree described Lebda as a “visionary leader whose innovation transformed the financial services industry and touched millions of customers’ lives.”

Lebda founded LendingTree in 1996 after his own struggles to secure a mortgage. His idea was simple yet revolutionary — a one-stop online marketplace where lenders compete for customers. The platform officially launched nationwide in 1998 and went public in 2000, changing how Americans shop for loans, credit cards, and mortgages.

Following the tragic news, Scott Peyree, the company’s Chief Operating Officer, has been appointed President and CEO, effective immediately. Steve Ozonian, who joined the board in 2008, will now serve as Chairman.

Tributes have poured in from across North Carolina and the business world. Former Governor Pat McCrory called Lebda “one of America’s greatest entrepreneurs,” noting that he chose to base LendingTree in Charlotte, helping the city become a fintech hub. Others, like Charlotte City Councilman Edwin Peacock, remembered him as “a generous philanthropist who left a lasting impact on the community.”

LendingTree, which employs around 940 people (with 300 in Charlotte), has been one of the state’s biggest fintech success stories. In recent years, the company reported strong growth, with revenue climbing 43% in the first quarter of this year.

Lebda’s legacy as a tech pioneer and community leader will continue to shape Charlotte’s financial landscape for years to come.