Led by Accel, the round saw participation from existing Funding Circle investors, including Baillie Gifford, DST Global, Index Ventures, Ribbit Capital, Rocket Internet, Sands Capital Ventures, Temasek and Union Square Ventures.
The new investment follows significant growth at Funding Circle over the last 12 months. Globally, investors on the Funding Circle platform lent more than GBP 1.1 billion to small businesses in 2016, with approximately GBP 400 million lent in Q4 alone. More than that, in Q4 Funding Circle UK, recorded 90% year-on-year growth and reached profitability.
Funding Circle facilitates lending to small businesses from investors including 60,000 individuals, local and national government, the European Investment Bank and financial institutions such as pension funds. The investment comes as lending to small businesses through the platform passes GBP 2.5 billion globally, benefitting over 25,000 businesses and creating 50,000 new jobs.
In total, Funding Circle has now raised more than GBP 300 million in equity funding.
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