Menu visibility control

Video

Events

Startup Surgery

Most Recent

News

Iris Capital launches €250m European tech investment fund

News

Startup Weekly: Welsh tech accelerator calls for applications, Virgin StartUp partners with WeWork and more

Tech City Voices

Culture. There’s no app for that, Kalanick

Press Releases

‘Connected finance’ app Curve hits £50m spend ahead of UK launch
“Coffee, networking and productivity”: Workspace disruptor ‘Lounge’ launches in London
Kompli-Global’s Technology Will Make Life Harder for Money Launderers

P2P lending platform Funding Circle raises $100m

Investment
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Funding Circle, a peer-to-peer lending marketplace, has raised $100m.

Led by Accel, the round also drew support from funding Circle investors including Baillie Gifford, DST Global, Index Ventures, Ribbit Capital, Rocket Internet, Sands Capital Ventures, Temasek and Union Square Ventures.

Samir Desai, co-founder and CEO of Funding Circle, said: “Today’s news is the next step on our journey to create a category-defining company that helps thousands of small businesses access finance and create jobs. Over the next 12 months, lending through the Funding Circle platform will create a further 50,000 new jobs, supporting economic growth in the UK, US and continental Europe.”

As Apple upgrades its payments offering, do UK P2P startups stand a chance?

Launched in 2010, Funding Circle has facilitated investments from a wide range of individuals and financial institutions, with £1.1bn being invested through the platform in 2016. The new round of investment comes as total lending to small businesses through Funding Circle passes £2.5bn globally.

Harry Nelis, partner at Accel, said: “We’ve been impressed by the Funding Circle team since our early investment in the company. It has achieved significant growth across multiple international markets by delivering an appealing lending option to SMEs and attractive risk-adjusted returns to investors on the platform. This investment makes Funding Circle the largest and best capitalised SME lending platform in the world, and we’re thrilled to continue to support its journey.”

Chancellor of the Exchequer, Philip Hammond, commented: “Funding Circle has become a real success story for British FinTech and news that it has attracted £80m of investment is further evidence of the growing importance of this industry. This is another vote of confidence in a UK firm that plays an important role in our economy – helping businesses to grow and create jobs.”

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Paris

Iris Capital launches €250m European tech investment fund
posted 10 hours ago

Startup Weekly: Welsh tech accelerator calls for applications, Virgin StartUp partners with WeWork and more
posted 13 hours ago

Culture. There’s no app for that, Kalanick
posted 15 hours ago

startup life

Uber’s CEO resigns, over £368m in UK tech funding, a new $3.3bn fund and more in The Week in Tech
posted 18 hours ago

inploi-co-founders

EXCLUSIVE: London-based Inploi raises £500,000, brings total to £1m
posted on June 22, 2017

Peter-Smith-Nic-Cary-Feb-2016

UK-founded tech startup Blockchain secures $40m Series B
posted on June 22, 2017