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Funding Circle Will Invest In Technology & Talent To Help Small Businesses Get Loans

small business loans
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Funding Circle, the world’s leading online marketplace for business lending, today announces it has raised $150 million (~£100 million) in equity capital, in a round led by DST Global, with participation from Baillie Gifford, a fund managed by BlackRock, Sands Capital Ventures and Temasek. Goldman Sachs acted as exclusive placement agent for the oversubscribed round. The new funding will be used to consolidate the UK and US markets and fuel further growth.

The investment comes as lending to small businesses via the marketplace surges past the $1 billion mark globally, following sustained growth in both the UK and US markets. Investors at Funding Circle are on track to lend $1 billion over the next year, showcasing the huge potential of marketplace lending on the global economy.

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Editor’s Notes:

  • According to the Co-founder of Funding Circle, Sam Hodges, the fast-growing lending platform was already well-funded and were not in need of the money, but they saw a great opportunity to acquire new shareholders and expand as a business.
  • Funding Circle is making it clear that they are focused on helping American startups get the small business loans that they need to thrive and grow. They plan to invest heavily in bringing in more talent and employing state-of-the-art technology to help American businesses.
  • By bringing together industry leading risk management and cutting edge technology, Funding Circle’s proven marketplace model enables businesses to access finance much faster than traditional banks, oftentimes it's a matter of days.

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