Funding Circle, the London-based P2P online lending platform, raised $150 million
Funding Circle, the London-based P2B online lending platform, announced that it’s raised $150 million in a Series E round. While the terms of the deal weren’t disclosed, the raise reportedly values the company at over $1 billion.
The company allows small businesses to take out loans from $25,000 to $500,000, at rates ranging from 5.99 to 20.99 percent. The platform charges a 2.99 percent origination fee on its loans.
To date, Funding Circle has helped over 8000 businesses raise over $1 billion. The company says it’s on track to lend $1 billion over the next year, as well.