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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.

http://www.crowdsourcing.org/editorial/funding-circle-raises-150m-in-series-e-round/48960