Funding Circle raises $65m in equity funding and announces Bob Steel as new board director
Today we’re delighted to announce that we have completed a $65 million series D investment, led by Index Ventures, along with existing investors, Accel Partners, Union Square Ventures and Ribbit Capital. This latest round of funding will help us to continue to improve our offer for both borrowers and investors; helping more businesses borrow in the US and UK, and improving the investment experience for all of our investors.
We’re also pleased to announce that Bob Steel will join our board as a non-executive director. Bob is currently CEO of Perella Weinberg Partners and his expertise and experience is unparalleled. As former Under Secretary for Domestic Finance of the United States Treasury, former CEO of Wachovia, vice chairman of Goldman Sachs and Deputy Mayor of New York, we are very excited to be welcoming Bob to the team.
You can read the full press release for today’s news in our media centre. This news follows the last round we raised in October last year, which allowed us to expand into the US and helped us to tailor our loans for small businesses who develop or invest in property. Since launching in the US at the end of 2013, the Funding Circle US team has increased its lending to American businesses by 500 percent and is expected to lend $100 million by the end of 2014.
Globally, investors have now lent more than half a billion dollars of lending to over 5,000 businesses and we believe this is just the beginning. Thank you to all investors for your support over the last few years – you are helping to build a better financial world.
We are talking about today’s news on our forum, so come and join the conversation.
The Funding Circle team