Funding Circle announces $150 million investment to fuel growth
Today we’re delighted to announce that we have completed a $150 million equity investment, in a round led by DST Global, with participation from Baillie Gifford, a fund managed by BlackRock, Sands Capital Ventures and Temasek. 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 welcome David Yu and Chitra Nayak to the team. David is the former CEO and CTO of Betfair and joins us as Global Chief Product Officer. He will oversee both technology and product going forward and we look forward to introducing you to him soon. Chitra joins us from Salesforce and is our new Chief Operating Officer in the States.
Your collective lending, both here in the UK and in the US, has now passed $1 billion globally. This is a huge milestone and we want to thank you for your continued support and lending. You are on track to lend $1 billion over the next year, showcasing the huge potential of marketplace lending on the global economy.
You can read the full press release for today’s news here and read some of the coverage in the Financial Times, New York Times and Reuters. Our CEO, Samir Desai, was also on the Today Programme this morning discussing the news. Listen in at 23 minutes 50 seconds here.
We are talking about today’s news on our forum, so come and join the conversation.
The Funding Circle team