Funding Circle Raises $150M in Venture Capital
Summary
Funding Circle, a London, UK-based online marketplace for business lending, raised $150m (approximately £100m) in venture capital.The round was led by DST Global, with participation from Baillie Gifford, a fund managed by BlackRock, Sands Capital Ventures and Temasek.Launched in 2010 by Samir Desai, CEO, and Sam Hodges, US Managing Director, Funding Circle operates a marketplace that allows qualified individual investors and institutions in the USA and the UK to invest in small businesses looking for growth capital.Investors include 38,000 individuals, financial institutions and the UK Government, who have now invested more than $1 billion in 8,000 businesses globally, and currently lend approx.The company, which is also led by Chitra Nayak (US Chief Operating Officer) and David Yu (Global Chief Product Officer), also signed formal referral partnerships with Santander and RBS.