More good news for Funding Circle this week, as the P2P funding platform announced it has received £82m in equity investment. That comes a week after the government, through the agency fo the British Business Bank was channeling another £40m through the platform.
Funding Circle raised the money from a asynidcate of investors that includes Baillie Gifford, DST Global, Index Ventures, Ribbit Capital, Rocket Internet, Sands Capital Ventures, Temasek and Union Square Ventures.
The deal is a further demonstration, Funding Circle’s founders say, of the platform’s longevity and pre-eminence in the P2P lending space. “Funding Circle is changing the financial landscape for small businesses and investors globally, ensuring a better deal for everyone and helping to create a more sustainable and fairer economy,” said chief executive and co-founder of Funding Circle Samir Desai
“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.”
“A real success story for British fintech”
The announcement was also welcomed by the chancellor Phillip Hammond, who called Funding Circle “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.”
The deal follows a successful 2016 for the platform, which reported that more than £1bn was lent through its various P2P channels.