9 years ago

Funding Circle Raises $100 Million to Fuel Growth

  • Funding Circle, a London-based peer-to-peer lending platform, has raised $100 million in funding led by Accel with participation from other previous investors

  • The round brings the total raised by Funding Circle to around $375 million

  • The startup says that this is the largest funding round for a financial tech company out of Europe since April 2015

  • The company itself has been growing at a rapid clip

  • In 2016, some £1.1 billion ($1.3 billion) was lent globally (it has operations in Europe and the U.S.; the U.K., which is now profitable for the company, is its biggest market, Desai said).

      • ProblemFinancial Services

      "Small and Medium-sized Enterprises (SMEs) often struggle to get loans from traditional banks, as they may not meet the strict requirements or have the necessary collateral."

      Solution

      "Funding Circle connects investors (individuals, governments, institutions) with businesses seeking loans. It provides a platform for SMEs to access capital without relying on traditional banks."

      Covered on