Funding Circle raises $37m in equity funding to expand UK operations and launch in the US
Today we’re excited to announce that we have completed a $37 million series C investment, led by Facebook backers Accel Partners.
This is one of the largest investment rounds made in Europe this year, showing how far Funding Circle has come in the past 3 years. In the last 12 months alone more than 1,800 businesses have accessed a total of £110 million from over 20,000 investors. The funds will be used to expand in the UK and launch in the US.
In the UK, the funds will be used to improve our service and introduce a range of new borrowing products for businesses, such as commercial property and asset finance. These will significantly increase the number of lending opportunities for investors.
Our vision is to give businesses a better way to borrow and investors a better way to earn a return. Since our launch in the UK, we have developed technology to allow businesses to borrow in a faster and more efficient way whilst allowing investors to make a better return on their money. We’re now excited to be taking this technology to the US.
We are joining forces with Endurance Lending Network to help millions of businesses across the US access finance. Endurance will now operate under the Funding Circle brand and their team will be based in San Francisco. Together as one business we combine their local knowledge and talent with our experience and innovative technology. The US business will operate separately from Funding Circle in the UK, so there will be no change to your lending experiences.
Today’s news is the beginning of an exciting 12 months at Funding Circle. You will soon see improvements and new functions appearing across the site and we’ll also be launching our mobile bidding app very soon.
We are talking about today’s news on our forum, so please do join the conversation.
The Funding Circle team